Well, this is about as hot as it gets these days! It’s been difficult to find solid looking stock charts that are trending higher over the past three to six months but I continue to research. The overall market is still very weak so the lack of individual leaders is understandable. It’s not smart to buy against the grain of the market; swimming against the current is just plain stupid if you ask me. However, my attempt today is to post up a few positive looking charts that are showing up on my screens as potential leaders if and when a small rally occurs. Several of these stocks have crossed my screens since late 2008 and have been highlighted on the blog but LOPE is new one to the bunch.

Grand Canyon Education, Inc. (LOPE) has a great looking up-trending chart since the day of its IPO and started to show up on my daily screens in late December (the most successful IPO in a long time – out of the box). This is definitely a stock that I would purchase if the market was showing strength. For now, I will stay on the sidelines until I can see some form of a rally starting to take place.

The other stocks listed below are also displaying nice technical characteristics in this murky environment which leads me to believe that they have potential to become market leaders in a rally. APEI is closely related to LOPE as these stocks typically do well when the market is in a recession. GXDX and ENSG are related to the healthcare and/or science industry which seems to do well when the economy has turned sour as well. Stocks such as APOL, COCO and CECO were superstars after 9-11 in the months leading up to the rally of 2003. Medical related stocks were also topping my charts in late 2002 and early 2003. Times seem to be repeating so we’ll have to wait for a market signal before jumping into any of these candidates.

In any evert, keep them on your watchlist.

• APEI – American Public Education, Inc.
• GXDX – Genoptix, Inc.
• ENSG – The Ensign Group, Inc.

Several of these stocks have been highlighted in blog posts dating back to November – be patient! We’ll continue to sit on them until the time is right.

• Three Stocks to Watch
• “A”+ Stocks
• Strong Stock Charts
• Institutions Accumulating Shares

Stock of the Day – Update
Titan Machinery Inc. (TITN)
Friday’s Closing Price: TITN – $22.40

Titan Machinery Inc., which runs construction and agriculture equipment store,s raised its full-year guidance for revenue and earnings per share earlier this week. Its fiscal second-quarter profit more than doubled as all three of the company’s businesses posted revenue growth. Net income for the three months ended July 31 jumped to $3.3 million from $1.4 million a year earlier and revenue surged to $134.9 million from $85.8 million.

The stock has been holding up rather well despite the weakness in the current market (Thursday aside). Its relative strength rating is within the top 1-2% of all stocks trading and the EPS rating is in the top 1% of all stocks trading. Overall, TITN is a stock that I wouldn’t mind adding shares here at the long term moving average. Disclosure: I do own shares at this time.

Past (TITN) Titan Machinery Inc. Blog Posts

• 6/24/08: Money Makers: IPI and TITN
  

  I have been away for the past few days but IPI and TITN continue to make new highs. The two stocks are up 49% and 69% respectively.

• 6/2/08: Top Rated Stocks
  

  “TITN – 24.30, Titan Machinery Inc. is still making new all-time highs but did run into some selling pressure near the $26 level. The trend is higher and I am holding until told otherwise by the charts.”

• 5/19/08: Portfolio Stocks on the Move
• 4/25/08: Portfolio Snapshot: Growth
• 4/29/08: Young Stocks Moving on Volume
• 4/21/08: Titan Machinery (TITN)
  

  Potential Trade Set-up:
  Entry: $21.00
  Risk is set at 1.0% of total portfolio or $1,000 of $100k
  Stop Loss is 10% or $18.90
  Number of Shares: 476
  Position Size is $10,000
  Risk is $2.10
  Target is unknown (too little information)

• 2/25/08: Stocks Catching my Eye – TITN: $19.70
  

  “MTL is no longer a buy since it has become extended but TITN and RIO may be setting up for new 52-week highs.”

I have been away for the past few days but IPI and TITN continue to make new highs. The two stocks are up 49% and 69% respectively. I do need to catch up on responding to comments since last Thursday. Follow the trend – simple concept.

(IPI) Intrepid Potash, Inc.

• 4/24/08: Intrepid Potash, Inc (IPI), $49.09
  

  “I missed the HUGE up-trend in POT but IPI may give this industry one last run before the trend is over. Markets are not efficient so the greed of crowds may take this IPO higher due to the recent performance of POT.”

  “I will not hesitate to jump on a trend if IPI starts to run higher because crowds are persistent and I don’t like to fight them.”

• 6/9/08: Watchlist and Stock Portfolio Update
• 6/2/08: Top Rated Stocks
• 4/25/08: Portfolio Snapshot: Growth

(TITN) Titan Machinery Inc.

• 6/2/08: Top Rated Stocks
  

  “TITN – 24.30, Titan Machinery Inc. is still making new all-time highs but did run into some selling pressure near the $26 level. The trend is higher and I am holding until told otherwise by the charts.”

• 5/19/08: Portfolio Stocks on the Move
• 4/25/08: Portfolio Snapshot: Growth
• 4/29/08: Young Stocks Moving on Volume
• 4/21/08: Titan Machinery (TITN)
• 2/25/08: Stocks Catching my Eye – TITN: $19.70
  

  “MTL is no longer a buy since it has become extended but TITN and RIO may be setting up for new 52-week highs.”