NEW YORK (TheStreet) -- During a correction or even a bear market, clues on the next leaders can come from those stocks that outperform on the way down. Stocks that start down first and bottom first tend to get on my shopping list. Some of the gaming stocks are fitting the bill.

MGM Resorts (MGM) - Get Report, chart below, made a peak early last year and has slowly inched lower. The On-Balance-Volume line (OBV) has been pretty flat the whole time period and suggests that investors have largely held their positions. Recently the Moving Average Convergence Divergence (MACD) oscillator, a good trend following indicator, has made a positive cross in negative territory which is a signal to cover shorts. A subsequent crossing of the zero line will be a buy signal.

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Caesars Entertainment (CZR) - Get Report, in the chart below, made a double top formation in the mid-$20s and worked its way down to the single digits before doubling from $5. Both the OBV line and the MACD oscillator turned up. More base building or sideways price action on CZR may be in order before investors are dealt a more sustained rally.

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Boyd Gaming(BYD) - Get Report shows a different pattern in the chart below, doubling in the past 12 months after breaking out of a 17-month consolidation pattern. Notice the strongly rising OBV line indicating more stock is being traded on up days than down days. BYD has made a very impressive base formation since 2009, and this could support a longer-term advance to the $40 area, which sounds like a winner in our book.

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Pinnacle Entertainment(PNK) - Get Report is another name with a strong breakout from a broad consolidation pattern in the $20-$26 area. Longs doubled their money from $20 to $40 without leverage. The OBV line is still pointed higher while the MACD oscillator suggests some further profit-taking may be in order before the advance resumes.

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