Roller Coaster | stockbee

10/24/2007

Roller Coaster

Market keeps swinging from one end to another. Yesterday market looked strong. Today it was very weak till mid day and then the futures started rallying and market recovered bulk of the losses.

Both bulls and bears lack conviction and a rumor of Fed discount rate cut had the panicky shorts covering in hurry. But overall the breakouts on downside exceeded the breakout on upside.

Stocks down 8% or more on high volume

ABK,Ambac Financial Group (Google Yahoo Earnings Chart)
ALTR,Altera Corp (Google Yahoo Earnings Chart)
AMIS,Amis Holdings (Google Yahoo Earnings Chart)
AMZN,Amazon.Com Inc (Google Yahoo Earnings Chart)
ANAD,Anadigics Inc (Google Yahoo Earnings Chart)
BCR,C.R. Bard Inc (Google Yahoo Earnings Chart)
BRCM,Broadcom Corp Cl A (Google Yahoo Earnings Chart)
CAVM,Cavium Networks Inc (Google Yahoo Earnings Chart)
CFC,Countrywide Financial (Google Yahoo Earnings Chart)
CTS,Cts Corp (Google Yahoo Earnings Chart)
DDUP,Data Domain Inc (Google Yahoo Earnings Chart)
DSTI,Daystar Technologies Inc (Google Yahoo Earnings Chart)
EFII,Electronics For Imaging (Google Yahoo Earnings Chart)
ELON,Echelon Corporation (Google Yahoo Earnings Chart)
FFIV,F5 Networks Inc (Google Yahoo Earnings Chart)
HAFC,Hanmi Financial Corp (Google Yahoo Earnings Chart)
HYTM,Hythiam Inc (Google Yahoo Earnings Chart)
IMB,Indymac Bancorp Inc (Google Yahoo Earnings Chart)
INFN,Infinera Corporation (Google Yahoo Earnings Chart)
JNPR,Juniper Networks (Google Yahoo Earnings Chart)
LDK,LDK Solar Co Ltd (Google Yahoo Earnings Chart)
MELI,Mercadolibre Inc. (Google Yahoo Earnings Chart)
NVTL,Novatel Wireless Inc (Google Yahoo Earnings Chart)
PLT,Plantronics Inc (Google Yahoo Earnings Chart)
PNRA,Panera Bread Co Cl A (Google Yahoo Earnings Chart)
RES,RPC Inc (Google Yahoo Earnings Chart)
RFMD,Rf Micro Devices Inc (Google Yahoo Earnings Chart)
RVBD,Riverbed Technologies Inc (Google Yahoo Earnings Chart)
SCA,Security Capital Assurance Ltd (Google Yahoo Earnings Chart)
SIFY,Sify Ltd Adr (Google Yahoo Earnings Chart)
SMDI,Sirenza Microdevices (Google Yahoo Earnings Chart)
SUPX,Supertex Inc (Google Yahoo Earnings Chart)
SVVS,SAVVIS Inc (Google Yahoo Earnings Chart)
SWIR,Sierra Wireless Inc (Google Yahoo Earnings Chart)
VLCM,Volcom Inc (Google Yahoo Earnings Chart)
WIRE,Encore Wire Corp (Google Yahoo Earnings Chart)
WSFG,WSB Financial Group Inc (Google Yahoo Earnings Chart)
WWY,William Wrigley Jr Co (Google Yahoo Earnings Chart)

The upside breakouts were dominated by earnings related breakouts. The 65 days ratio continues to be bullish and till that turns, it is still better to keep bullish options open.

Select stocks up on high volume
ANO,Anooraq Resources Corp (Google Yahoo Earnings Chart)
ARCI,Appliance Recycling Centers of America Inc (Google Yahoo Earnings Chart)
ASIA,Asiainfo Holdings Inc (Google Yahoo Earnings Chart)
ATAC,Aftermarket Tech Corp (Google Yahoo Earnings Chart)
ATRM,Aetrium Inc (Google Yahoo Earnings Chart)
BTJ,Bolt Technology Corp (Google Yahoo Earnings Chart)
CEC,Cec Entertainment Inc (Google Yahoo Earnings Chart)
CIA,Citizens Inc (Google Yahoo Earnings Chart)
CME,Cme Group Inc (Google Yahoo Earnings Chart)
CRI,Carter Holdings Inc (Google Yahoo Earnings Chart)
CYD,China Yuchai Int Ltd (Google Yahoo Earnings Chart)
EEFT,Euronet Worldwide Inc (Google Yahoo Earnings Chart)
EJ,E-House China Holdings Limit (Google Yahoo Earnings Chart)
EXAS,Exact Sciences (Google Yahoo Earnings Chart)
FLML,Flamel Technologies Sa (Google Yahoo Earnings Chart)
FRPT,Force Protection Inc (Google Yahoo Earnings Chart)
ICE,Intercontinental Exchange Inc (Google Yahoo Earnings Chart)
ISRG,Intuitive Surgical Inc (Google Yahoo Earnings Chart)
ITI,Iteris Inc (Google Yahoo Earnings Chart)
KMT,Kennametal Inc (Google Yahoo Earnings Chart)
LUNA,Luna Innovations Inc (Google Yahoo Earnings Chart)
NRMX,Neurochem (Google Yahoo Earnings Chart)
PCAR,Paccar Inc (Google Yahoo Earnings Chart)
PFWD,Phase Forward Inc. (Google Yahoo Earnings Chart)
PKX,Posco (Google Yahoo Earnings Chart)
QLGC,QLogic Corp (Google Yahoo Earnings Chart)
SCON,Superconductor Tech (Google Yahoo Earnings Chart)
TMTA,Transmeta Corporation (Google Yahoo Earnings Chart)
TVIN,TVI Corporation (Google Yahoo Earnings Chart)
VOCS,Vocus Inc (Google Yahoo Earnings Chart)

2 comments:

Carter said...

Pradeep,

I am looking at BTJ, one of the IBD 200 breakouts mentioned above. It gained more than 10% today. Would you still enter a stock the next day after such a drastic move upwards the day before or do you prefer to open positions on breakouts in the 2-4% range?

Pradeep Bonde said...

Lo float stocks are more volatile than large float stock, so they tend to make larger moves. In this case with just around 5 million float, this stock when it moves, it moves big. So if you limit to 4%, you are not likely to get a entry.

The way to control the risk is by how much you risk. See my post at Trading Goddess blog here I explained how you can enter with 1% risk on such stocks.

I enter on the day of breakout or next day.