It’s about that time again to run through some breakout highlights of the past couple weeks.. and there have been many. In the past two weeks (using the 10 trading days between July 19th and July 29th), a total of 61 breakouts have occurred and of those 61 breakouts, 47 currently have a gain (through Friday’s data).
The biggest gainer award belongs to LMI Aerospace (LMIA). The manufacturer of aluminum and specialty alloys for the aerospace, tech and commercial sheet metal industries has vaulted 28% since breaking out on July 22nd and is at 6 year highs.
The biggest loser award belongs to Schmitt Industries (SMIT). The manufacturer of electronic and mechanical components for machine tool products and laser measurement systems worldwide, reversed sharply after breaking out on July 19th and is down 18% from the pivot.
The following is a screenshot of one of the several filters of the SelfInvestors.com Breakout Tracker database, which allows you to pinpoint opportunities in the world’s fastest growing companies very quickly. The screenshot belows shows breakouts of the past 2 weeks with a rank of 50 (out of 60) or better. Of course, the more powerful screen is the screen that lists stocks BEFORE the breakout – that is available to premium members of SelfInvestors.com.
(The larger pop up image is still a bit difficult to see, so I’ve created a separate page for viewing this screen.)
At the top of the list is Apple Computer (AAPL), which isn’t too much of a surprise. The stock gapped up with heavy volume out of a "less than perfect" double bottom base after reporting strong earnings, which presented a first buy point. Many stocks will provide a few different entry points while carving out the right side. I like to initiate a position at the first entry point and possibly add smaller increments to a position upon further breakouts. For example, in this case maybe I add a full position after the stock breaks out above 41, then add a smaller position to that should it break out above the handle that is currently forming at 44.48. Another way to play this position is initiating a position on a return to the pivot around 41, if you missed the first entry point. It just may provide that entry point, which would be low risk considering there is strong support there.
Considering USANA Health Sciences (USNA) exhibits outstanding fundamentals and one of the best looking bases i’ve come across recently, it’s also no suprise that it sits atop the "Top Breakouts" list. The stock broke Friday and tacked on more gains today.. I second Paris Hilton when I say "that’s hot." Did I just say that?