Thursday, May 27, 2010
Two leading break outs that appear to be working so far...
These two leaders broke out yesterday on above average volume and appear to be working so far. They also broke out on volume in early March soon after the markets confirmed a new up trend in late February.
In addition, it appears that APKT is attempting to break out again today after the shake out yesterday. I have decided to try to reestablish a position in APKT once again this time with a much smaller position size in light of the fact that we are still in a correction.
Hopefully, stocks like APKT, VMW and SNDK will later form high handles and hence offer a second opportunity to get long of/add to them after the markets have confirmed a new up trend.
I am still trying to enter GENT. However, the price gapped above my limit order ($4.50) and I am stilling waiting to get filled. I am in no hurry to enter this stock. If I miss it so be it. There will be more opportunities.
Good luck and good trading!