After Friday’s plunge I thought it would be interesting to take a look at the top 50 or so best performing stocks for the day excluding any oil related stocks (which for the most part were all up for the day) as well as those that moved on good earnings. I wanted to capture a list of stocks with just good old fashioned underlying strength that bucked the trend on Friday. It stands to reason that these stocks have a great chance of doing particularly well if the market can right the ship and keep the rally intact. Please note that these are not buy recommendations and in fact several may be too extended. However, the charts look solid. I’ll leave the rest up to you. It’s getting late late and I’m exhausted, so I’m not going to bother with the charts in this post. Here’s my list ordered according to my fundamental rank for each stock.
Tenaris (TS) [rank 27/30]
Ceradyne (CRDN) [26]
Ipsco (IPS) [26]
Schick Technologies (SCHK) [26]
Silicon Motion Tech (SIMO) [26]
Turkcell (TKC) [26]
Fording Canadian Coal (FDG) [26]
Color Kinetics (CLRK) [26]
Carters Apparel (CRI) [25]
Middleby (MIDD) [25]
Banco Santander Chile (SAN) [25]
Bright Family Solutions (BFAM) [24]
Unica (UNCA) [24]
US Global Investors (GROW) [24]
Falconbridge (FAL) [24]
First Republic Bank (FRC) [23]
Toronto Dominion Bank (TD) [22]
CPFL Energia (CPL) [22]
I recently re-read O’Neil’s book, and one of the things I don’t have a handle on is what to do if you buy a stock that breaks out of a sound base on good volume and the stock then falls back into it’s base and goes sideways again. This has happened to me a few times recently. Is there a time frame that you hold such a stock before selling it, or do you hold it as long as you don’t get stopped out?
Hi Eye Doc,
I never use specific time frames for holding a stock just as I never set price targets. IBD recommends setting your stop at 7-8%, but I don’t use such rigid rules there either. It really depends on the price/volume movement as well as where support is in the stock… not to mention the health of the overall market. Sometimes I’ll cut and run at a 2% loss, sometimes at a 10% loss.. just depends on a variety of factors. If you give me a couple of specific examples I’d be more than happy to mark up a few charts here and give an idea of how I’d go about playing it.