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  • Three Leading Stocks At Alternative Buy Points 0 comments
    Jul 12, 2012 2:12 PM | about stocks: PKT, N, ALXN

    CHARTS OF THE DAY

    Or shall we say the why it pays to NOT chase buses and more importantly why we've harped time and time again to NOT buy breakouts of the day charts. Folks this is NOT the 1990's traditional O'Neil buy any breakout with a pulse market. Those who bought the two names below off of that traditional entry have been destroyed over the last few days as shown. And rightfully so. You can not use 1990's bull market strategies in a climate like this. The better trade entries are to wait for an initial pullback to some sort of support zone which is where all of the below currently are.

    (click to enlarge)

    (click to enlarge)

    (click to enlarge)

    But now? Notice where these issues have sold off to? You got it, prior supports of some sort. Not to mention they have that Grand Slam down Pullback Off Highs (NYSE:POH) pattern showing in the charts currently.

    Themes: canslim, IBD, O'Neil Stocks: PKT, N, ALXN
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