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System Trading with Woodshedder

Woodshedder
Joined Nov 11, 2007
1,458 Blog Posts

The Daily Breakout: Number of Breakouts Explode

Woodshedder Wed Apr 16, 2008 10:13pm EST 1 Comment

A proprietary screening system has identified 19 breakouts from a cup with handle pattern. 19 is the most breakouts this system has identified in one day since October 2006.

Here are some of my favorites from the screen.

KSU

[[KSU]]

NSC

[[NSC]]

RKT

[[RKT]]

SOHU

[[SOHU]]

MXI

[[MXI]] Odd that this ETF is breaking out…

I do not recommend buying these names tomorrow. I would wait for a pullback. After a day like today, where breadth was extremely bullish, weakness is more likely than strength, over the next five days. More on this in the next post.

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One comment

  1. Danny
    Danny
    April 17, 2008 at 3:34 am

    today was extremely bullish on the iBC machine.

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