I ran across these this morning. Could be a fluke, but I think I found a great new scan. If it bears out over the next week or so, I'll share it with you. Here's what I found: PDCO, GIS, PHS, SKX, VTRU, LNET, PTA, and JAH. This is the entire output of the scan, so I think there is some less exciting stuff here - Sketchers is a good example, but taken as a whole, a pretty strong group.
Of particular interest is Penn Treaty:
Most of the other issues in this list are in solid trends, or have just broken out in the last few months. PTA seems to be about to start a new uptrend. If it does (and other indicators look awfully good), then it will be a breakout move. There is a bit of resistance at 2.55ish, but I think it should move past that with good momentum. Definitely one to put on the watch list. I'll be putting in a buy this morning, with a stop at 2ATR, or .14 below my entry, which also happens to be just below that nice W formation.
Another consistent player in a firmly established trend, but with a recent momentum surge, is Jarden:
Yesterday's blip may make you a little nervous, but I think it will prove to be an anomaly. Money has been flowing into this stock consistently since '02, but the pace of inflows has picked up as of late.
The last chart I'll show you today is General Mills:
Now I have done some business (or tried to) with General Mills, and have to say they didn't impress me all that much as an organization. (Note the thinly disguised sour grapes.) But I guess you can't argue with every kid on earth eating Count Chocula for breakfast.
There is generally held belief among traders that a new breakout will generally be equal in size to it's preceding base. The breakout will be as tall as the breakout was long. I always wondered how to set up my chart to get this measurement, but regardless of how you do it, GIS has some legs to it. Also going on my buy list this morning. I'm looking for run to at least 56, but there may be a rest along the way.
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