Squidward: The noises, how are you two making those noises?
Patrick: That’s easy, all you need is a box…
Spongebob: And imagination. [he spreads his arms from the top of his head to his sides, forming a rainbow in-between]
Squidward: Are you trying to say that I have no imagination? I have more imagination in one tentacle than you two have in your whole bodies.
Patrick: That’s good. Now all you need is a box.
[Spongebob and Patrick close the cardboard box, Squid storms back to his house]
– The Idiot Box, Spongebob Squarepants
About a month ago, I listed some of the Investor’s Business Daily Top 100 charts that were "boxed", meaning that they were in a good buy range based on CANSLIM methods, and that passed some of my secondary tests. The performance of those stocks was respectable, with 3 winners, 1 draw and 1 loser.
06/21/05 7/23/05 %
CTSH $48.27 $48.32 0.1%
CBG 40.99 42.55 3.8%
CVH 71.66 68.90 -3.8%
CDIS 50.98 58.09 13.9%
CIB 15.75 19.99 26.9%
Average 8.18%
S&P 1213 1233 1.2%
NASDAQ 2091 2179 4.2%
Here are the charts that I find most attractive in this week’s IBD Top 100. Always remember that the majority of the IBD stocks in the top 100 don’t work unless we’re in a raging bull market (the M in CANSLIM). These are not recommendations, just growth stock ideas to do some more work on. And while some of these stocks are a bit more extended than I would like, I think that’s only natural in the strong market we’ve seen. I would consider using a tighter stop on some of these stocks.
BOOM is a chart that can go either way. I’m going to list it with an "asterisk" because its an interesting chart that can go up or down, depending on which way it breaks, so its a good one for traders…
