ParkTwain's Parlor

[ParkTwain]

OXPS 6-mo chart including BBands width plot:

http://stockcharts.com/def/servlet/SC.web?c=OXPS,uu[h,a]daolyyay[dc][pb50!b200][vc60][iUb14!Lyb20,2.0]&pref=G
(paste this entire URL into your browser URL field)

Notice how low the BB width line went before today's breakout.

Tell me you bought below 25.00, friends!

[Websman]

Breakout happening in OXPS today! ROCK AND ROLL!

great job! I need a pullback. lol

[ParkTwain]

TRLG and TRGL are each up more than 11% intraday today. "Fat finger" order entry at woirk?

[noshadyldy]

TRLG and TRGL are each up more than 11% intraday today. "Fat finger" order entry at woirk?

Ahahahahahhahaaaaa!

[ParkTwain]

TRLG and TRGL:

Correct answer: TRLG is breaking out today, so perhaps TRGL is the beneficiary.

[ParkTwain]

BRCM trades intraday above 50.00 today. Technicals strengthening all this week. Close today above 50.00 with followthrough tomorrow triggers buy. No points of serious overhead resistance for another 50 points of upside! This is not my preferred type of play, but that huge headroom gets my attention.

http://finance.yahoo.com/q/bc?s=BRCM&t=5y&l=on&z=m&q=l&c=

[RL]

Park no particular reason for picking GHM It was on the dart board. Also know the vice pres. James Lines one of the best people you will ever meet In your life. His father and I very good friends played a lot of golf together.

[ParkTwain]

S&P 500, Nasdaq, Russell 2000 all making new 52-week highs today so far.

[ParkTwain]

+4% followthrough today in BRCM. Good stuff.

[ParkTwain]

MOT
Expecting bullish behavior in near term. Nearing 52-wk high of 23.99.

BRCM
Acting strong again today.

OXPS
Fine bullish action this morning, another intraday 52-wk high.

DDD
Renewed strength indicates a near-term bottom was put in last week.

BTJ
Remarkable continued bullish strength today.

[ParkTwain]

Took profits in 1/2 of my OXPS position at >25% gain. Added to long position in DDD. Closed TWGP with 2% loss. Trading portfolio up 9.8% for 2006 YTD.

[ParkTwain]

There is an embarrassment of riches in all-time high (ATH) breakouts to choose from after today's market session. It required about 2 hours of my time to derive this list of trade candidates. I would say that almost every one of these is a good candidate for opening a near-term long position.

This long list of candidates is an example of why, in a bull market, I feel there is no reason for me to position-trade anything other than breakouts beyond a previous ATH price per share. Restrict myself to no more than 10% above the previous ATH resis price, so I can set a max 10% stop loss. Looking for at least 10% gain per long position over the subsequent 10 to 15 trading days, but a hold scenario that provides up to 20% gain would be considered. Would prefer an entry that requires closer to a 5% stop loss.

I would usually perform this research using 1 to 2 weeks of daily new 52-week highs lists.

Results below are presented ordered by PPS price range. I would prefer candidates with PPS under $30/sh. Actual selection of a candidate to trade depends on the likelihood of the strength of the ensuing breakout run, based on (a) examining several corroborating technical indicators, (b) length of time between previous ATH resistance and the present, and (c) span of time the PPS previously spent at or near the previous ATH resis point.

It's also interesting to see several golden oldie tech stocks (BRCM, QCOM, RHAT, THQI, YHOO) from year 2000 in this list. Tech stocks LRCX and VCLK just missed inclusion (see criteria below). GHL is another good-looking stock that didn't make this cut. GFX would be a candidate but has low avg daily volume. ORCC was also a near-miss.

From my research tonight:


All-Time High (ATH) Breakout Candidates List
(taken from Jan 9, 2006 new highs list)

* Increasing fwd e.p.s. (Yahoo data)

* 3 mo. avg. daily volume >50K sh (Yahoo data), SOME EXCEPTIONS

* RSI > 65 and already uptrending for at least prev 1 calendar month

* Price per share (PPS) @ all-time high but no more than 10% over prev all-time high resis
-or-
PPS within 5% under prev all-time high resis (imminent ATH brkout)
-or-
PPS brkout beyond recent resis but next resis is >$20.00/sh higher

* Prev ATH resis occurred at least 2 mos ago

* No REITs, buyout targets, ADRs and foreign, banks, funds, ETFs, mining and gold related



>>$0.00 to $9.99/sh
ACTG (imminent ATH brkout),
ANX (brkout today, ATH 5 yr ago on very low vol),
GIGM (brkout today, high headroom),
HOMS (imminent brkout, high headroom),
MBRX (LOW VOL EXCEPTION, imminent ATH brkout, strong ChMF),
UCTT (imminent ATH brkout, LOW VOL except recently),
YMI (ATH brkout today)


>>$10.00 to $19.99/sh
ALY (brkout 01/06/05, ATH >6 yr ago on very low vol),
BKRS (w/in 10% over prev ATH resis),
CLZR (imminent ATH brkout),
ENG (ATH brkout today),
HMT (imminent ATH brkout),
PDFS (w/in 5% under 4-yr and all-time high),
RMIX (imminent ATH brkout),
TRAD (ATH brkout today)


>>$20.00 to $29.99/sh
AGYS (imminent ATH brkout),
GNTX (w/in 5% under ATH),
RHAT (imminent brkout, high headroom),
TEN (recent brkout, high headroom),
THOR (imminent brkout, ATH 9 yr ago on very low vol),
THQI (imminent ATH brkout),
TRID (ATH brkout today),
WIRE (ATH brkout today),
WW (ATH brkout today)


>>$30.00 to $39.99/sh
AOS (w/in 10% over prev ATH resis),
DAKT (w/in 10% over prev ATH resis),
HLF (w/in 10% over prev ATH resis),
SIRF (w/in 10% over prev ATH resis),
SNA (w/in 10% over prev ATH resis),
SPSS (imminent ATH brkout)


>>$40.00 to $49.99/sh
APH (w/in 10% over prev ATH resis),
CAM (w/in 10% over prev ATH resis),
EYE (imminent ATH brkout),
FCL (w/in 10% over prev ATH resis),
QCOM (recent brkout, high headroom),
VTS (imminent brkout, high headroom),
WM (imminent ATH brkout),
YHOO (recent brkout, high headroom)


>>$50.00 to $59.99/sh
BRCM (recent brkout, high headroom),
GSF (ATH brkout today)


>>$60.00 to $69.99/sh
BDX (w/in 10% over prev ATH resis),
LMT (w/in 5% under ATH),
NOC (w/in 5% under ATH)

[RL]

Park, don't know how you did all this work In 2hrs. going to try to play your results.

[ParkTwain]

Ray, I use a particular page for the day's new 52-wk highs list.

http://www2.barchart.com/high.asp?=&sort=8&what=ALL&force=high%2easp

Notice on this page at the upper right that there is a link "FlipCharts". This opens a small, separate window in which you can click "Next" to see a stripped-down 1-year chart for each stock found on the page. I can use the FlipCharts to quickly identify which charts indicate the more interesting potential setups. For each of these I then open the Yahoo "max" timeframe chart to determine whether a given new high also is, or is near, the all-time high PPS. Then for the stocks who remain candidates I check the RSI and other qualifying technicals using stockcharts.com.

[RL]

Hay PARK thanks for the Info. Do you subscribe to bar charts?