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Scan New Highs List Each Day To Track The Strongest Sectors.(MAKING MONEY)(INVESTOR'S CORNER)
Byline: NANCY GONDO
In a healthy market, how do you quickly spot high-quality stocks breaking out? The strongest industry sectors give clues.
Check IBD's new highs list each day (today on page B8). Stocks breaking out of bases soon hit new highs as they run up. Many may be too extended in price from their ideal buy point. But in a strong market, others in those sectors tend to follow suit into new high ground.
IBD research found that industry group and sector strength account for up to half of a great stock's power. That's why we rank all 197 industry groups based on their stocks' daily price performance over the past six months.
Stocks on the new highs list get put in broader sectors than the 197 industry groups. Sectors with the most new highs lead the list. In Friday's issue, for instance, 41 energy stocks hit new highs. These include oil and gas explorers, drillers, refiners, gear makers and so forth. Next on the list: finance, with 31 stocks. Medical and banks followed with 20 stocks each, chemicals with 18.
Within each sector, stocks are listed in order by biggest increase in volume. Boldfaced stocks score an Earnings Per Share Rating of 95 or better. An asterisk means the stock also shows up in that day's Stocks In The News columns so you can get more info and study its chart.
Look at the end of ...
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