Eleven Stocks That Could Be Ready to Run

There is no doubt that the market has been very bullish in the short term. However, the low volume bothers me, since I have been around long enough to have seen many strong rallies on low volume fail badly.

Market uptrends that come with a lot of accumulation and little distribution offer up leading stocks to buy up to 13 weeks after the follow-through day. On Thursday, the DJIA had that follow-through day, and so far we have not seen a lot of great patterns.

I have only a few near-perfect to perfect charts (I listed two of them last Wednesday) that have shown up as the market hammers out a possible low. But in 1998, 1999, 2003 and during the mini rallies within the uptrend from 2004 through early 2007, I always had plenty of strong stocks making strong gains.

This rally has had a lot of beaten-up laggards making strong gains, but the leaders are few and far between. Still, though, there are some possible leading stocks that, along with my current portfolio of longs, could soon join the party to the upside if this market is in fact hammering out a bottom.

Today, let's look at these charts:

• Omega Protein (OME - commentary - Cramer's Take)
• Titan Machinery (TITN - commentary - Cramer's Take)
• Air Methods (AIRM - commentary - Cramer's Take)
• TNS (TNS - commentary - Cramer's Take)
• Greif Brothers (GEF-B - commentary - Cramer's Take)
• Integral Systems (ISYS - commentary - Cramer's Take)
• Perrigo (PRGO - commentary - Cramer's Take)
• Martek Biosciences (MATK - commentary - Cramer's Take)
• Micros Systems (MCRS - commentary - Cramer's Take)
• NewMarket (NEU - commentary - Cramer's Take)
• FTI Consulting (FCN - commentary - Cramer's Take)

Omega Protein

Click here for larger image.

Source: TeleChart Gold

If OME can pull back to the pivot point or 50-day moving average on low volume and then bounce on heavier volume, I would like to get long.

Titan Machinery

Click here for larger image.

Source: TeleChart Gold

TITN has broken out of a cup pattern on very strong volume. If it can pull back to the pivot point or 50 DMA on low volume, I would like to get long.

Air Methods

Click here for larger image.

Source: TeleChart Gold

AIRM needs a few more weeks to months to work on a right side of the base, and if it can then bounce on strong volume, I would like to get long.

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At time of publication, Hayes was long NEU.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider OME, TITN, TNS, GEF and ISYS to be small-cap stocks. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

Joshua "MauiTrader" Hayes is CEO, president and founder of Big Wave Trading LLC, a Maui, Hawaii-based stock market advisory service. Hayes also runs BigWaveTrading.com, an online stock market commentary and stock selection service for short- and intermediate-term investment strategies using CANSLIM and other strategies. Under no circumstances does the information in this commentary represent a recommendation to buy or sell stocks. Hayes appreciates your feedback; click here to send him an email.