Texas Roadhouse Inc (TXRH) – 05-01-2012
Earnings were somewhat lukewarm with some mixed news on a settlement, but the stock still had a solid volume breakout. A large chunk of the early gains were given back today, so this one isn’t too far off the buy point. I usually play these kinds of things on inside bar breakouts if it looks like it’s going to follow through.
Michael Kors Holdings (KORS) – 05-01-2012
Another IBD stock, but this one hasn’t broken out yet. KORS at $50 looks interesting, but since it just ran up 100%+ at the beginning of the year, I wouldn’t bet on it breaking out of its consolidation phase too soon. I’ll be interested to see what it can do if/when it does though.
Cirrus Logic, Inc (CRUS) – 05-01-2012
Cirrus Logic on the nice breakout with good volume and a declining volume pullback. It needs to come back a little further before it’s at a new buy point, but it’s something to keep an eye on.
Coinstar (CSTR) – 04-13-2012
Coinstar is probably something you’ve heard of. They’re all over the place with their change machines and also their Redbox kiosks. The breakout has a lot of warning signs — enough that I wouldn’t classify it as a real breakout yet. Low volume and a high open/low close should apply the brakes, and the general market weakness should knudge your hand over to the parking brake. You shouldn’t trade against the market, but it’s a positive sign that despite a 1% drop in the market CSTR managed a positive 7% day. I like this one if the market manages to recover its strength.
Questcor Pharmaceuticals, Inc (QCOR) – 03-15-2012
Another IBD stock, but this one will be interesting with a support test. The initial breakout last year proved to be a decent support zone for this year, so it’ll be interesting to see if this falls through $32 in some general market weakness. I know I just said I’m not screening for bearish positions, but I also like this as a potential short if the market does breakdown and this stock dips below support.
Cummins Inc (CMI) – 03-15-2012
I was just going through the IBD list to see what’s interesting and CMI’s chart fit the bill. Nice numbers and it’s on a breakout. While it’s not actually overextended right now, it looks like it would be really solid on a support test.