TC2000.com• Download software • Tutorial videos • Subscription & data-feed pricing • Class schedule
TC2000Brokerage.com• New account application • Trading resources • Margin rates • Stock & option commissions
Worden Discussion Forum
Just an observation I had while reviewing charts this weekend. There are new issues beginning to appear that are new among the performers that I try to track...(price, volume, chart pattern, BOP, RS) and fundamentals(these are a real pain in the ass to research).
In the Semiconductor sector, specifically the IBD Elect-Semiconductor manufacturing group, there are 3 charts with good fundamentals that have made a pretty strong move up the food chain recently. There are 2 additional charts that appear alongside these that do not look as strong but have made strong price moves as well. The Industry Group has moved from #159 seven months ago to #118 three months ago to the #80 spot today. The 80 spot would not be considered a leading group, but the way these have moved have definitely got my attention.
These five charts have moved anywhere from around 15% to 25% since the March 20 follow through day. They are;
Would this be considered sector rotation taking place? Or might this be just the result of short term rally speculation that will not last?
Nice entry I think, only 1.31% above what I would consider a buy point of 26.78. Another positive I noticed is that the green BOP is heavy even on the pullback. Volume on the pullback is a little strong but after the huge volume days with a couple of gap ups, I expect a little above average profit taking is taking place. Nice one, Goodluck!
That training video is pretty much the scan I mentioned above, and it is where I based that scan off of. I would offer one caution about using Dame Lerner's exact settings, EPS values are very low, and if you are truly interested in the type of stocks IBD attempts to Point out using the PE ratio set at 15 and below will, I think , eliminate many strong growth stocks as many of the strongest breakouts in the past have occured where the stock had PE's in the 20's 30's and even the 40"s.
All that said I gather you are more of a short term trader from most of your posts so this will not really matter much to you.
You may consider building a Tab with EPS Change Latest Qrtr, EPS Change 1st Qrtr back, second Qrtr back, 4th Qrtr back etc. So you can flip right over to it to get a snapshot of the EPS Performance of that stock over several quarters versus quarters the prior year. I have also added EPS change latest year, the 5 year growth rate,% shares held by insiders, and % change of the stocks 50 day average volume.