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Ticker Tape Digest

Monday, April 7, 2008


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 positions both as trades or for longer-term plays. These stocks

will do very well during bear markets or market corrections

TTD's multi-media updates include a slide-show that presents charts and analysis at midsession. Some times TTD presents feature analysis on stocks and the market. TTD uses Windows Media Files. (WMV).

Quote or chart

TTD also presents a "Breakout Watch List" that is up dated daily. This list consists of key stocks in position to breakout. A close watch of this list can put you in the stock just as it breaks out.

TTD often suggests using stop buy orders to enter. It is very important to buy a breakout stock as close as possible to the break point. The idea is to get "elbow room" if the stock should follow through to the upside. This is very important in being successful in making big money with breakout stocks.

TTD also has  special feature sections on  Educational Tips on Investing.

To email Mr. Leo Fasciocco  leo@tickertapedigest.com.For service, email Beverly Owen owen@tickertapedigest.com. TTD’s Tel: 1-480-926-1680.


Breakout Stocks

Total Buy Breakouts so far today - 13

Stocks Screened - 8,200

Bull side -  Good number of breakouts dominated by heavy industry stocks. Bulls be selective.

Long- term Environment for bulls:  Bearish

Market Status (Daily) - NYSE Bullish, Nasdaq Bullish

Market Status (Weekly) -NYSE Bullish, Nasdaq Bullish

Market Status (Monthly) NYSE Bullish, Nasdaq Bullish


Today's Featured Breakout Stock

Flowserve Corp. (FLS) - 116.31, up 5.59 - Breakpoint 112.60

Hits New High, Profits to Jump 30% This Year, TTD Targets 140

  FLS, based in Irving, Tex., makes fluid-handling equipment and related components, primarily for the specialty chemical and petroleum and food-processing industries. Annual revenues: $3.8 billion. FLS breaks out from a seven, cup-and-handle base today and hits a new high. The stock is one of the few that have made new all-time highs. The action could well bring in more buying on Tuesday.

  TTD highlighted FLS as a breakout at our midsession show on the Web. We also put out an accumulation buy recently.

  So far today, FLS is trading is trading 1.2 million shares. Its average daily volume is 887,000 shares.

  The stock showed stunningly bullish action late on Friday. TTD's clip captures a big block of 90,000 shares crossing the tape late Friday. It went off at $110.81, a modest up tick from the prior trade at $110.72. The action showed big institutional accumulation right before the stock broke out to a new high.

 TTD's performance chart of FLS (see below) shows the stock appreciating almost 100% the past 12 months compared with a about a 5% decline in the S&P 500.

  FLS produces metallic and nonmetallic centrifugal pumps and related components, as well as automatic-control, rotary, and anti-noise valves that are sold under various brand names. The company markets its products through independent distributors, sales representatives, and direct sales force.   

  FLS long-term chart shows the stock in a powerful bull market that began in 2003. The stock has since soared from 20 to 115. It remains in a strong up trend.

  TTD's daily chart shows the breakout today which clears the top of the base easily. The base was set up after FLS rallied from 75 to 110. The base is well formed.

  The stock's technicals are bullish. The TTD momentum indicator (top of the chart) is modestly bullish. The accumulation - distribution line (bottom of chart) is an overall up trend.

  FLS is expected to report a big first quarter. Analysts predict a 60% jump in net to 95 cents a share from 59 cents a year ago. The highest estimate on the Street is at $1.07 a share.

  TTD sees good chances for an upside earnings surprise - possibly a big one. The past four quarters FLS topped the consensus Street estimate by 5 to 37 cents a share.

 FLS' net for the year is projected by the Street to climb 30% to $5.38 a share from $4.15 a year ago. The stock sells with a price-earnings ratio of  just 21 based on this year's projected net. TTD sees that as reasonable. Next year, analysts forecast a 22% rise in profits to $6.54 a share.

  The company is benefiting from a 23% growth in sales with improving margins.

  Strategy Opinion: FLS's breakout looks very good. It only lacks strong volume. TTD is targeting the stock for a move to 140. The stock could get a boost from a stock split. It recently boosted its quarterly dividend. A protective stop can be placed near 105 and should be honored. TTD rates FLS a good intermediate-term play.

  Sponsorship: Excellent. The largest fund buyer recently was 5-star rated American Century Heritage Fund, which purchased 360,000 shares. Also, 4-star rated American Century Vista Fund added 354,000 shares.

  Insider Activity: Neutral. Insiders were buyers using stock options. They turned around and sold. Five analysts follow the stock, 2 have a buy, up from one three months ago.


  


  Stock Performance Chart for One Year versus the S&P 500 index.


TTD's Breakout Profile Rating
Flowserve Corp. (FLS)
TTD Check List Bullish Bearish Neutral
Near 52-week High YES  
Volume Expansion   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

All Timely Breakout Stocks From Tape Action Today

(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)

  


Charts of Breakout Stocks





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Ticker Tape Digest’s

Stocks To “Sell or Short”

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: Neutral

Bear Side -  Small list of breakdown stocks today. Gaming issues moving lower, especially slot stocks.  Bears be selective.


List of Stocks To Sell or Short

(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.)


Commentary on TTD’s Feature Bear Play

Elbit Systems Ltd. (ESLT) - 53.56, off 1.58

Stock Drops Below Support, TTD Sees Drop to 45

  ESLT, based in Israel, makes electronic systems for military use. Annual revenues: $1.5 billion. ESLT's systems are used in submarines, military aircraft, tanks, unmanned air vehicles, day-night observation and data-transmission systems, tactical trainers, and artillery command and control systems.  Today, ESLT breaks below key support with an expansion in volume. TTD sees the stock moving lower.

  So far today, ESLT is down about 1.50 points. Volume is about double normal. The stock is thinly traded. The stock got off to a bearish start. TTD's clip shows a block of 5,886 shares crossing the tape on a modest down tick to $53.12 from the prior trade at $53.13.

  The company markets its products in Israel and overseas. Revenues outside of Israel account for a majority of the revenues. The company makes night-vision goggles heads up displays too.

  This year, analysts predict a 24% increase in net for the first quarter to 56 cents a share form 45 cents a year ago. In the prior quarter, ESLT came in a penny under Street estimates. For the year, the Street is looking for a 23% gain in net.

  TTD's daily chart shows ESLT peaking near 65 in late January. Since then the stock has pulled back and looks wobbly. Today, the stock falls on expanding volume The stock's TTD momentum indicator (top of the chart) is very bearish. The accumulation - distribution line (bottom of chart) has turned down.

  TTD sees ESLT as a trading short. The stock looks very vulnerable. WE are targeting ESLT for a drop to 45 within the next few months, or sooner.


  


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.”

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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.)