It is so much more important, at least from my point of view, to identify bullish groups rather than looking for stocks on an individual basis. Put simply, when the group acts in a homogeneously bullish fashion it makes stock selection easier (relatively speaking, of course) and it implies that the move will have tenure and durability.

That's not to say that a stock in a morose group can't double -- because it can. It just says that it is easier to have confidence when all of the stocks in a particular group are behaving in the same fashion.

Last week the

S&P MidCap Electronic Group

enjoyed bullish action as the two stocks (I know, it's a pretty weak group if it only has two stocks) in the group both gapped upward.

Arrow Electronics

(ARW) - Get Report

and

Avnet

(AVT) - Get Report

both had big weeks last week and both are tremendously bullish and will work higher. Reasonable targets include 40 for Arrow and 87 for Avnet.

Because of the action in these two stocks I thought it would be a good idea to screen for stocks in the same sector in the hopes of finding some other bullish names. Using

Bloomberg

, I screened based on the

Standard Industrial Code

, or SIC, reported for both Arrow and Avnet -- 5065 Electronic Parts. Here's what I found: These are all essentially small-cap electronics companies:

Act Manufacturing

(ACTM)

: consolidating since early December 1999 between 30 and 40. Stock gets the benefit of the doubt until it closes under 30. Very bullish on a close above 40 for a first target of 50.

Jaco Electronics

(JACO)

: breakout last Thursday on good volume to a new 52-week high. Pretty small and quite thin, but my target on the stock is 14.

Kent Electronics

(KNT)

: an Arrow and Avnet redux. Big action last Friday in a catch-up play with Arrow and Avnet. It has been a steady performer since May 1999 with multiple upside gaps (in October and November 1999, January and February of 2000). I would not be surprised to see the stock run to the old high of 43 3/4 (back in April 1996).

Nu Horizons Electronics

(NUHC)

: new 52-week high (and highest level since April 1996) on a huge volume surge last Thursday (2.1 million shares or nearly seven times the 10-day average of volume). 20 is a conservative target, and 24 seems doable.

Pioneer Standard Electronics

(PIOS)

: The stock is at its highest level since early 1998. Volume over the last three days says the stock has gas in its tank to work higher. There is resistance for the stock up to 19 1/4, but 25 seems like a done deal.

John Roque is the technical analyst at Arnhold & S. Bleichroeder, a New York-based investment brokerage firm specializing in Europe and the U.S., and a frequent guest on CNBC. At time of publication, Roque had no position in any of the securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Roque appreciates your feedback at

jroque@thestreet.com.