Wednesday, April 30, 2008

More Charts Are Setting Up Nicely

Here are charts of the stocks I talked about earlier that put in nice, earnings-related breakouts today. I believe all of these stocks are IBD-type stocks with good fundamentals, and their charts look good as well. I am interested to see if these follow-through at all. I would be interested in a few of these on pullbacks if the market cooperates.

Charts from Telechart2007, Courtesy of Worden Brothers, Inc.

Here are some of the best charts I see setting up right now. I got more in my scans tonight than I have for the past week or so. I hope that's a good sign. I still have to wait until the market shows its true colors before I would start positions in these, those. The possibility of getting whipsawed with any new purchases still scares me here, and I will trade accordingly.

Charts from Telechart2007, Courtesy of Worden Brothers, Inc.

I don't have time to put up charts of all of these, but here are some others that I am watching if they rest a bit more. Some of these are oil-related and have pulled back in an orderly fashion. Some oils haven't been so orderly, so I am not sure what to think about the group overall. Here are the names:

REXX, BEXP, GDI, TDY, DECK, MTL(if it gets to the 50 day MA), CPO, XCO, and NUAN

Tomorrow should be interesting. Hopefully the market decides it likes the statement and we break out soon. Best of luck with your trading.

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