Thursday, April 11, 2013

Thursday's Breakouts

Thursday, April 11:

Of 2,212 stocks and exchange-traded funds in this week's analytical universe, 54 that are traded on the major American stock exchanges broke beyond their 20-day price channels, 42 to the upside and 12 to the downside.

The symbols that I analyzed have a better than even chance of producing a profitable trade in at least one direction using the Turtle Trading method for entry signals.

Seven symbols survived my initial screens, all but one with bull signals. The bear signal is HPQ, a highly liquid stock trading 26 million shares a day. In descending volume order, the bull signals are HYF, SHOS, RYF, IXUS, PFD and FEMS.

Only SHOS and HPQ are stocks; the rest are exchange-traded funds.

The signals that are confirmed on Friday by trading beyond the 20-day price channel will merit further analysis.

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