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Byline: NANCY GONDO
The market found a bottom in mid-August to start an uptrend and ended Friday on a bullish note. What's not to like?
Well, if you were reluctant to buy back into the market, you may have missed some of this rally's best opportunities. Many of the stocks on the IBD 100 list have already broken out and are extended from their pivot points. Don't despair.
Instead of settling for lesser-quality stocks, why not look for follow-up buy signals such as pullbacks to the 50-day moving average, "three weeks tight," high handles and other sound patterns?
Always sell if a stock falls 7% to 8% below your purchase price. But if it pulls back and doesn't violate that rule or another sell signal, consider adding shares. Or make a fresh buy if you missed the initial breakout.
II-VI broke out of a five-month base the week ended June 25. The maker of laser system components rallied 16% before gently correcting to its ...