TradeRadar Bottom-fishing

It is getting about that time when we announce the Trade Radar Pick o' the Month. I haven't made my mind up yet but I wanted to list a few stocks that have developed promising patterns but haven't quite generated unambiguous BUY signals. The current list is as follows:

National Interstate (NATL) - provides insurance for the transportation industry (today's close: $26.70)

Diodes Inc (DIOD) - semiconductor manufacturer (today's close: $36.27)

Evergreen Energy (EEE) - provides lower emission fuel to coal-fired utilities and industries (today's close: $10.48)

Alkermes Inc (ALKS) - a pharmaceutical company with an alcoholism treatment (today's close: $15.04)

Abaxis (ABAX) - makes easy-to-use blood test kits for humans and animals (today's close: $21.80)

All of these stocks have been trending downward for the last few months, some more steeply than others, but have recently announced better earnings and/or have garnered analyst upgrades. I am definitely bottom-fishing here, looking to catch one at an inflection point. In the case of ABAX, we may already be too late as it has moved from a low of $17 to almost $22 in just a few days. Is that the start of a strong up-trend? We'll need to dig into the fundamentals in order to make a decision on that. Some of the others mentioned, however, seem to be more of a technical play with potential upside still available.

Check them out and see what you think. Try running them through the StockConsultant.com or AmericanBulls.com tools located in the left side-bar. Comment if you feel one stands out above above the rest.

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Brazil - in a bubble or on a roll?

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Thursday Bounce: Trend Busters, Swing Signals and Trend Leaders for July 9, 2009

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