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By Leo Fasciocco -- TTD
Ticker Tape Digest presents its daily breakout and Short Selling report. It contains Breakout Stocks and Stocks under Significant Accumulation.Data is from tape action for the day. These stocks are most suitable for aggressive investors seeking ideal entry points for leading stocks.
These stocks will do very well during bull markets and strong market rallies.
TTD also presents Stocks To Sell or Sell Short.These issues are suitable for aggressive investors willing to take short positionsboth as trades or for longer-term plays. These stocks will do very well during bear markets or market corrections
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Total Buy Breakouts so far today - 21
Stocks Screened- 8,200
Bull side - Large number of breakouts today and some interesting plays. Bulls be selective and keep tight stops.
Long-Term Environment for bulls: Unfavorable.
Market Status (Daily) - NYSE Bearish, Nasdaq Bearish
Market Status (Weekly) - NYSE Bearish, Nasdaq Bearish
ZUMZ, based in Everett, Wa., sells sports clothing and gear to young people involved in sports such as snowboarding, BMX, skateboarding, and surfing. Annual revenues: $260 million. ZUMZ breaks out from a nine-week flat base today and hits and all-time high. The stock has been one of the strongest of the 2005 IPO crowd. The stock has climbed from 12 to 39.
The stock's strong move today was triggered by a favorable earnings report.
ZUMZ came in with net for the fiscal fourth quarter ended Feb. 3 up 64% to 41 cents a share from 25 cents a share a year ago. The company's profits for fiscal 2007 came in at 76 cents a share, up 52% from the 50 cents a share a year ago.
The company forecast net for the fiscal year ending in 2008 should hit 94 to 96 cents a share. The Street has been forecasting net at 92 cents a share. So, the forecast was a little better than expected. So, the company expects net to climb around 25% for the coming fiscal year.
The stock moved higher early in the session and showed good strength throughout the session. Volume swelled to 2.6 million shares, six times its average daily volume of 440,000 shares.
TTD's clip of the big blocks for the session show most in the blue, which means they are bullish, with the trade having gone off at a price above the offer. There were not bearish trades. One neutral trade took place and it is in black.
The online and mall-based retailer sells clothing, shoes, accessories. It has about 190 stores in 19 states.
The company sells popular youth brands like Billabong, Burton, Hurley, Quiksilver, Vans, and Spy Optic, as well as private-label goods. Besides the usual hoodies, T-shirts, puffy skater shoes, and snowboarding goggles, stores also sport couches, video games designed to encourage kids to hang out.
TTD's daily chart shows the stock rallying from 20 back in September to around 36. It then set up its base. Note that the stock rallied sharply six sessions ago, possibly in anticipation of the good numbers.
Today's breakout comes with strong volume. The stock's accumulation - distribution line is trending higher and affirms the strong action of the price of the stock.
Strategy Opinion: TTD is calling for ZUMZ to zoom ahead to 47 within the next few months. A protective stop can be placed near 36 and should be honored. TTD rates ZUMZ a very good intermediate-term play with potential to surprise on the upside with earnings.
Sponsorship: Average. The largest fund holder is 3-star rated Fidelity Advisor Growth Opportunities Fund with a big 4.2% stake. It was a recent buyer of 67,000 shares. Another key buyer was Fidelity Advisor Equity Growth Fund, 3-star rated, which purchased 315,000 shares recently.
Zumiez was founded in 1978 by its chairman Thomas Campion, who owns 25% of the company's stock.
Insider Activity: Bearish. Insiders have been modest sellers recently around 33. TTD does not see it as a big negative, but something to be watched. Ten analysts follow the stock, 8 have a buy, up from 6 three months ago.
| TTD's Breakout Profile
Rating Zumiez Inc. (ZUMZ) |
| TTD Check List | Bullish | Bearish | Neutral |
| Near 52-week High | YES | ||
| Volume | YES | ||
| Tick Volume | YES | ||
| Price Trend - Daily | YES | ||
| Price Trend - Long Term | YES | ||
| Price Daily Spread | YES | ||
| Base Structure | YES | ||
| Base - A-D | YES | ||
| Earnings-Quarterly | YES | ||
| Earnings-Long Term | YES | ||
| Earnings Outlook | YES | ||
| Industry Group | YES | ||
| Prior Breakout Success | YES | ||
| Fund Sponsorship | YES | ||
| Total Score | 13 | 0 | 1 |
(The “breakout List” gives all stocks breaking out of a base of five weeks or more. These stocks have a good chance to trend higher. However, a stop should be used to avoid those that do not work.
(Trading strategy: One should buy breakout stocks at breakpoint by using market order or stop buy)
Ticker Tape Digest’s Daily List of “Stocks To Sell or Sell Short” ranks stocks well timed to be sold immediately based on daily trading. The list can be used as an alert to reduce current long-term positions.
Shorts from tape action so far today - 3
Stocks Screened - 8,200
Long-Term Environment for bears: Favorable.
Bear Side - Not many breakdowns today as market lifts slightly. Bears remain on the prowl for weak stocks breakingdown with problem fundamentals.
(Trading strategy: These stocks can be sold short, or if held should be sold. If a stock is sold short, a protective stop buy should be placed. Short plays work best when the stock market is in a down trend.)
RVBD, based in San Francisco, provides hardware and software used in wide area network traffic optimization. Annual revenues: $90 million. RVBD falls sharply today an undercuts key technical support at 28. The stock's drop comes after the company made a presentation to analysts at a conference hosted by Citigroup in Las Vegas.
So far today, RVBD is trading 3.2 million shares, triple its normal daily volume of 1.1 million shares. The stock got off to a bearish start in the morning. A big block of 20,000 shares crossed the tape on a down tick to $28.35 from the prior trade at $28.40. That set the tone for the day.
The company develops hardware and software that improves the performance of applications that are shared over networks. Its Steelhead network appliances can be scaled to fit customers ranging from small businesses to large firms.
RVBD's Steelhead Central Management Console software keeps track of Steelhead appliances on a WAN, managing up to 500 appliances on one network.
RVBD's largest shareholders include Accel Partners with a 20% stake, Lightspeed Venture Partners 20%, and UV Partners 10%.
This year, RVBD's earnings should rise to 7 cents a share from a loss of 59 cents a share a year ago. For the first quarter, the Street expects a loss of 2 cents a share compared with a loss of one cent a share a year ago.
The stock had been acting well basing after a strong move up from 15 last September to a peak near 35. However, today's technical breakdown is significant. The stock's TTD momentum indicator (Top of the chart) is extremely bearish. The accumulation - distribution line is in a nose dive. TTD is calling for RVBD to sink to to 20 within the next few months, or sooner. TTD would treat the stock as short trading play and look to cover around the target area.
TTD columnist Leo Fasciocco has covered the stock market for over 20 years. His articles appear in many publications. He is also a speaker at the Intershow conferences. He has been on television and radio. He is author of many educational articles about stock investing and the book “Guide To High-Performance Investing.”
For information to subscribe to the Ticker Tape Digest Services call: B. J. Owen at 1-480-926-1680. Distributed by Corona Publishing Enterprises. Ticker Tape Digest Inc. P.O. Box 2044 Chandler, Az. 85244-2044. TTD “Professional Report” is available on the World Wide Web: $100 per month. Password needed. “TTD Professional“ Faxed is $200 per month. The TTD Daily Report is $39.95. Credit cards accepted.
(The information contained has been prepared from data deemed reliable but there is no guarantee of complete accuracy. Ticker Tape Digest Inc. is not affiliated with any broker, dealer or investment advisor. Nothing in this publication constitutes an offer, recommendation or solicitation to buy or sell any securities. Further research is advised. This report is copyrighted and no redistribution is permitted with out permission. Some of the charts are from Telescan, Insight Trading, First Alert and other sources.)