Fast Money's Summer Breakout Stocks
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Created by barrons3
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Date updated:05-26-2009

Patterns in three areas of the market suggest a breakout could be near, according to Dan Fitzpatrick, of StockMarketMentor.com.

symbol name last price % change open
  • +
  • XHB
    Spdr Homebuilders
  • $14.76
  • +1.23%
  • $14.74

We’ve had a series of lower highs and lower lows. That’s bearish. But back in April we had the first higher high in quite a while. That suggests the sector could start moving higher if we now get a higher low. In other words the sellers could be done selling.

People owning XHB also tend to own: HANSSPYBSXIRAKAMDVNGW

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  • +
  • XLE
    Energy Select Spd
  • $57.33
  • +1.29%
  • $57.67

There’s consolidation just below the 200-day moving average and that pattern looks bullish to me.

People owning XLE also tend to own: ATVICCJCELGCRZODSXDVNEMC

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  • +
  • SMH
    Ml Semicond Hldr1
  • $25.35
  • +1.08%
  • $25.35

The sector is up 21% since the low but compared to most other sectors that’s nothing, says Fitzpatrick. Patterns in this chart suggest it could move to the upside.

People owning SMH also tend to own: ATVICCJCELGCRZODSXDVNEMC

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