While the bulk of the market corrected, there were 21 stocks up 2% or more from the IBD 200 list. Not all of them had qualifying volume. The recent earnings breakout CCF made another 5% move today. When you buy an earnings breakout on neglected stocks the catalyst lasts for few weeks and so pullbacks of few days should not shake you out.Also if you noticed it came in to IBD 200 post earnings. That is why following earnings gets in in to many of the stocks which go in to IBD 200 and IBD 100 much before they are discovered by majority. In fact you should plot earning dates on the stock charts of IBD 100 and see what triggered off their major moves( www.bigcharts.com allows you to do this). See these HRT and MICC charts with earnings plotted on it.
Many rallies of significant magnitude both in price terms and number of months or years term are triggered by earnings announcements.
In this 2% plus list see how many were triggered by earnings.
ARCAF,Arcadis Nv (Google Yahoo Earnings BW Chart)
BWP,Boardwalk Pipeline Partners LP (Google Yahoo Earnings BW Chart)
CCF,Chase Corp (Google Yahoo Earnings BW Chart)
CHL,China Mobile Ltd (Google Yahoo Earnings BW Chart)
CTRP,Ctrip.com International (Google Yahoo Earnings BW Chart)
DHIL,Diamond Hill Investment Group Inc (Google Yahoo Earnings BW Chart)
DLB,Dolby Laboratories Inc (Google Yahoo Earnings BW Chart)
DSW,DSW Inc (Google Yahoo Earnings BW Chart)
ELK,Elkcorp (Google Yahoo Earnings BW Chart)
FTEK,Fuel Tech Inc (Google Yahoo Earnings BW Chart)
HMIN,Home Inns and Hotels Management (Google Yahoo Earnings BW Chart)
HRT,Arrhythmia Research Tech (Google Yahoo Earnings BW Chart)
IGLD,Internet Gold-Golden (Google Yahoo Earnings BW Chart)
MBT,Mobile Telesys Ojsc Ads (Google Yahoo Earnings BW Chart)
MICC,Millicom Intl Cellular Sa (Google Yahoo Earnings BW Chart)
MS,Morgan Stanley (Google Yahoo Earnings BW Chart)
PRFT,Perficient Inc (Google Yahoo Earnings BW Chart)
PSPT,Peoplesupport Inc (Google Yahoo Earnings BW Chart)
SORL,SORL Auto Parts Inc (Google Yahoo Earnings BW Chart)
VIP,Vimpel Communication Ads (Google Yahoo Earnings BW Chart)
WFR,Memc Electronic Material (Google Yahoo Earnings BW Chart)
You can look at chart patterns or you can look at event triggers. Event triggers are more objective and quantifiable. But to understand that you have to first escape from the technical analysis jungle.
Earlier posts in this series:
How to beat the market for $1.25 per week- Part3
How to beat the market for $1.25 per week- Part2
How to beat the market for $1.25 per week
3 comments:
It looks like QQQQ is now in the middle of a drop to mid 42s. I don't know if I'd call this a true correction as it is only dropping back into previous range and people have been calling a correction for weeks now.
Buying pressure has not been able to sustain meaningful rallies the past 3 days. We may see some type of failed recovery rally before next clean down leg.
I've been lookingf for the earnings date for HRT but can't find it. By my estimate it should be towards ebd of next week. This stock has been very good to me but what a wild ride!
Keep an eye on RKT who reports on Thursday I believe.
It has only 2.4 million shares float, so it jumps all over the place. It has been in IBD 200 for several weeks now.
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