Day Trading with Hary Boxer

Today we’re going to talk about some of the stocks that appear to be breaking out. There’s certainly a lot of them. It’s tough to narrow them down and that goes to show you how many stocks are out there now that appear to be moving and surging. Sometimes when you get too many of them all at once, it’s an indication the market may be somewhat overbought or nearing an important peak. But we’ll ride it until they turn and lower.

China Automotive (CAAS), in a very strong Chinese group Monday, has a kind of head and shoulders type of basing pattern, broke up 2.14 today at 1.8 million shares, the heaviest volume in 3 - 4 weeks. It looks like it’s coming across a declining topsline. Next target 26 plus range, maybe 27.

SmartHeat (HEAT) had a strong session Monday, up 1.34 or 9% breaking out of this wedge with increasing volume. Initial target up around 17 – 171/4. Could be doable very short-term. Secondary target around 18 1/2 – 19.

Telestone Technologies (TSTC) super Chinese stock, this year has risen from under 1.00 to 22 1/2, and today broke out of a 3-day bull flag on increasing volume. Top of the short-term channel says 24 is doable. We may see that as quickly as tomorrow. Then the longer-term target, up around 30 plus, very much in the cards.

Xyratex (XRTX), portfolio position, jumped 90 cents or almost 7%, may be breaking out of the congestion range or consolidation that has held the rising trend line or moving averages. Monday was a good day because it closed at a new closing high. Long-term target up around the mid 20s. Short-term target in the high teens.

Other stocks on Harry’s chart are Brigham Exploration (BEXP), Canadian Solar (CSIQ), Geron (GERN), Green Plains Renewable Energy (GPRE), Kandi (KNDI), Origin Agritech (SEED) and Tianyin Pharmaceutical (TIP).

That’s it for tonight. Let’s see how it goes tomorrow.