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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 - 14
Stocks Screened- 8,200
Bull side - Breakout list expands with some good plays. Bulls be venturesome.
Long-Term Environment for bulls: Favorable.
Market Status (Daily) - NYSE Bullish, Nasdaq Bullish
Market Status (Weekly) - NYSE Bullish, Nasdaq Bullish
BLTI, based near Los Angeles, makes laser-based systems for use primarily in dental applications. Annual revenues: $62 million. BLTI breaks out - or should we say reemerges - from a four month flat base. The stock drives strongly across key resistance around 9 and gets to 9.50. Volume so far today is running at 414,666 shares, triple its normal daily volume of 161,000 shares.
TTD featured BLTI as a breakout a week ago in our March 13th TTD Report. The stock's reemergence from the base is very bullish. It shows the stock "wants to go higher."
BLTI gave a hint of a possible move higher when TTD spotted strong accumulation late in Monday's session. That is when a big block of 11,231 shares crossed the tape on an up tick to $9 from the prior trade at $8.99.
BLTI's primary product, the Waterlase dental laser, is used to improve the sanitation of hard tissue dental surgery.
The company's LaserSmile and DioLase Plus products are also used for various dentistry purposes. BLTI operates design and manufacturing facilities in California, and sells its products to dentistry firms in countries throughout the world depending on FDA clearance.
TTD's daily chart of BLTI paints a bullish picture. The stock broke out of the base a week ago. The next day when its earnings report came out it reversed and went back into the base. Now today it spikes higher clearing the prior near-term peak.
A key to note is that the two days the stock broke out volume expanded nicely, while on the selloff day volume was lower than the prior sessions. TTD sees that as a good tip off the stock could well move higher.
The stock's TTD momentum indicator (top of the chart) is extremely bullish.
The accumulation - distribution line is starting to trend higher again.
BLTI is a turnaround play. This year, analysts expect the company to show a profit of 19 cents a share compared with a loss of 20 cents a year ago.
The stock sells with a 50 price-earnings ratio based on this year's projected net.
BLTI's revenues are showing a 50% improvement. The company said its cost reduction and containment programs are positively impacting margins now.
BLTI came in with a fourth quarter profit of 4 cents a share compared with a loss of 5 cents a share a year ago. So, the turnaround is in place. For the first quarter the Street is expecting a breakeven versus a loss of 10 cents a share a year ago. The highest estimate for the quarter is at a profit of 2 cents a share.
Strategy Opinion: BLTI is a great looking play for an aggressive investor. TTD is targeting the stock for a move to 12.50. A protective stop can be placed near 8.80. TTD rates BLTI a very good intermediate-term play with potential to show a 50% appreciation within the next 12 to 15 months.
Sponsorship: Excellent. The largest fund holder is Fidelity Small Cap Stock Fund, 3-star rated, with a big 9.6% stake. It was the largest buyer recently picking up 948,000 shares. The second largest fund holder is 4-star rated American Funds Smallcap World Fund with a 3.9% stake. It recently purchased 930,000 shares.
Insider Activity: Neutral. Not much action lately. Some good insider buying late last year. That is encouraging. One analyst follows the stock, and is neutral.
| TTD's Breakout Profile
Rating Biolase Technology Inc. (BLTI) |
| 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 | 10 | 2 | 2 |
(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.
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 - 7
Stocks Screened -
Long-Term Environment for bears: Unfavorable.
Bear Side - Small number of break down plays today. However, some intersting shorts are available for aggressive bears. Several TTD shorts from Monday fall today. Robbins & Myers (RBN) drops 1.52 to 34.77, and Community Health loses 0.98 to 33.79.
(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.)
LXK, based in Lexington, Ky., makes computer printers. Annual revenues: $5.2 billion. LXK breaks down today and resumes its down trend after peaking at 74 late last year. So far today, LXK is trading 3.4 million shares, double its average daily volume of 1.4 million shares. The stock was a big winner of the past few years. However, its pattern has turned bearish as earnings growth has slowed.
TTD's clip of the tape today shows one of the largest trades of the session. It was a big block of 38,000 shares, crossing on a down tick to $57.63 from the prior trade at $57.65. The action indicates institutional selling.
LXK's printer line includes laser printers and ink jet printers.
LXK develops and makes its own devices. The company sells its products through distributors including Ingram Micro and Tech Data, and through retailers such as CompUSA and Best Buy.
This year, analysts expect LXK's earnings to drop 7% to $1 a share from $1.07 a share last year. The upcoming first quarter should be about flat with the $1.03 a share a year ago.
Technically, the key today's drop is the heavy volume. That says investors are fleeing the stock. The stock's TTD momentum indicator is very bearish. The accumulation - distribution line has now rolled over. TTD is calling for LXK to decline to 50 within the next few months, or sooner. The stock is a good play for bears.
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.)