I ran the potential breakout screen without have any volume requirements. Not as many showed up as I was thinking there would be, and some good looking charts. They are worth watching Monday, as usual I'd set an alert 20 above Friday's close and take a look at the stock after the it alerts. Often you can pick them up near the high or even near the previous close after they alert, since many will get profit taking on the move to higher ground before continuing the move up. This were you have to make a judgement on whether a running stock has enough momentum to keep going.
When they alert at the open you have a couple options, buy a 1/2 position at the opening price, then pick up the other 1/2 either breaking the high made during the first 20 minutes, or buying on a dip when/if the stock tests the support at the previous day's high or close.
Remember something upwards of 80% of the breakouts come back down to test support within a few days, so these are best day trades or exited near the open of the next day.
Claires Stores (CLE) is very close to breaking its 52-week high. We haven't watched this one in a long time and after seeing the chart it looks like the only thing that would have kept it coming up as a short term trade potential the first of June was its lack of volume.
Corinthian Colleges (COCO) was on our breakout list 6/16 and 6/20, performing very well. It took several days for it to retrace those gains.
Del Monte Foods (DLM) was another that broke out in June, but not making the list due to volume concerns.
H&R Block (HRB) is a stock we follow weekly and have commented the last few weeks about the channel it is in, could be staging a breakout of that channel now.
Interstate Bakeries (IBC) is another we have had for the last several weeks since it has been regularly moving up in steps.
Lennar (LEN), another we have been following. A home builder.
MDC (MDC) is a another home builder, that I know nothing about, but I should for several reasons. Nice looking chart too.
Olin (OLN) is extended chart wise (distance above support), but not percentage wise on the chart. Valuation may be another question all together for this stock. There are some product reasons why the stock has been resistant to the current downtrend in most stock groups.
That is all that came up, hope it is useful.
Sam
