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Breakouts for Oct 11th: A very weak selection of breakouts, reflecting the lack of interest from institutions to put money to work in the market. My scan was dominated by penny stocks, I have included two of the better ones here. The first pick, APCS, gained from a strong Q3 and revised guidance. It was one of the few quality picks on the scan that has merits. GTC buy orders above $8.52 can be used to add to a position taken from Monday's open at $8.94. Breakouts in OBV and MACD, combined with a rising slow stochastic (but not yet overbought) favors further gains. The stock has enjoyed a good year, so we are looking at a mature rally. Based on that, a relatively conservative price target is set. The second pick, AGT, has traded some very heavy volume recently. Financing news sparked further trading, although today's doji at resistance marks indecision. A move past $0.85 breaks this resistance, but it should be possible to trade here with a stop just below today's lows. There is room to the next level of resistance, making this an aggressive play. Technicals are strong, if a little over extended in the short term, but the MACD trigger line over zero is long term bullish. The third pick, BPTR, broke base resistance of $0.72. There is a decent tradable move to $1.16 resistance, but watch for psychological resistance at $1.00. MACD over zero is bullish and slow stochastics, although weakening, are above previous reaction highs.

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"IBD" refers to Investors Business Daily