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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 - 19
Stocks Screened- 8,200
Bull side - Good number of breakouts today as market rallies strongly in the afternoon. Bulls be aggressive with high-earnings growth stocks.
Long-Term Environment for bulls: Favorable.
Market Status (Daily) - NYSE Bullish, Nasdaq Bullish
Market Status (Weekly) - NYSE Bullish, Nasdaq Bullish
VSEA, based in Gloucester, Ma., is a major producer of ion implantation systems, which beam ions into semiconductor wafers to alter their conductivity in certain areas. Annual revenues: $730 million. VSEA breaks out from a well-formed, six-week flat base today and hits an all-time high (see long-term chart). Semiconductor stocks are acting strong now. Volume for VSEA so far today is running a 2.7 million shares, almost double its normal daily volume of 1.4 million shares.
TTD highlighted VSEA as a breakout at our midsession show on the Web today.
The stock showed strong accumulation late on Tuesday. Our clip from the tape shows a big block of 49,600 shares crossing on a nice up tick to $49.27 from the prior trade at $49.22.
VSEA has a common equipment platform, the VIISta single-wafer system, which it configures into specific models for different applications, for high-current, medium-current, and high-energy doses of ions.
The company also offers consumables, product upgrades, services, spare parts, and support. VSEA has shipped more than 3,300 ion implanters worldwide, and has sold systems to each of the 20 largest chip makers in the world.
VSEA's stock has been showing outstanding Relative Strength. A look at TTD's daily chart of VSEA shows the stock has been trending higher while the stock market has been moving lower. Earlier this month, the company increased its stock buy back plan to $400 million from $300 million.
The breakout today came on a gap move, which is bullish. The base is a bit short in time but TTD sees that as okay.
The stock's TTD momentum indicator is solidly bullish. The accumulation - distribution line is bullish. So, all systems are go!
For the fiscal year ending Sept. 30, VSEA's net should climb 56% to $2.60 a share from $1.66 a year ago. The stock sells with a price-earnings ratio of 19, which is reasonable.
For the fiscal second quarter ending March 31, earnings should surge 154% to 66 cents a share from 26 cents a year ago. The company is on record forecasting net between 62 to 68 cents a share.
Profits for the following fiscal third quarter should be up 55% to 67 cents a share from 43 cents a year ago.
Strategy Opinion: VSEA is acting much stronger than the general stock market. Today, it moved higher nicely as the market rallied. So, the stock is in sync.
TTD suggests a full position on this breakout. We are targeting the stock for a move to 63 within a few months. A protective stop can be placed near 47. TTD rates VSEA more of a trading play, unless the earnings outlook for the next fiscal year is boosted. Currently, the Street sees just a 5% rise in net for fiscal 2008.
Sponsorship: Very Good. The largest fund buyer recently was 4-star rated Calamos Growth Fund which purchased 642,000 shares. It has a 1.2% stake. Another key buyer was Hartford Small Company Fund, 4-star rated, which purchased 215,000 shares.
Insider Activity: Bullish. Some big buying late last year around 41. No selling by insiders since. 11 analysts follow the stock, 7 have a buy, up sharply from 4 three months ago.
| TTD's Breakout Profile
Rating Varian Semiconductor Equipment (VSEA) |
| 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 | 14 | 0 | 0 |
(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 - 4
Stocks Screened - 8,200
Long-Term Environment for bears: Unfavorable.
Bear Side - Only a few breakdown stocks today as market continues to rally. Bears be selective looking for breakdowns of companies with fundamental problems.
(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.)
MEG, based in Richmond, Va., has interests in publishing, broadcasting, and newsprint production. Annual revenues: $918 million. MEG gaps lower today to set off a TTD short play. The stock has been in a down trend since topping out around 70 back in 2005. The stock's breakdown comes after a brief rally. So far today, MEG is trading 232,400 shares. Its average daily volume is 149,000 shares.
The stock got off to a bearish start in the morning when a big block of 6,800 shares crossed the tape on a big down tick to $39 from the prior trade at $39.20.
The company publishes 25 daily newspapers in Alabama, Florida, North and South Carolina, and Virginia, including The Tampa Tribune.
It also publishes 150 weekly newspapers and other periodicals.
The company also owns 33% of SP Newsprint Company. The company's TV division operates about 25 network-affiliated stations, most of which are in the southeastern US. It also has about 75 Web sites for some of its newspapers and TV stations.
The company reported that revenues for February rose 6.4% to $73.6 million. However, the company said it experienced difficult market conditions in January and February. It said the year has started out much weaker than expected. The Street has been forecasting a 57% drop in earnings for the first quarter. The bearish forecast reinforces the weak outlook.
Technically, the stock looks great for bears. Today, it gaps lower on expanding volume. TTD is targeting MEG for a drop to 32 within the next few months.
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.)