Breakouts for Sep 23rd: My initial scan turned up over 30 breakouts, but the stocks featured were mostly penny stocks, or stocks in the latter phases of exhaustion runs. The select three for today have merits, ALDN perhaps the best of the three, but given the reversal in the market I would remain hesitant taking a long position in any of these. For the record, I do own GIGM. The first pick, ALDN, is building the RHS of a new base. The stock has come off an extended rally that took prices from $0.85 to $28.75. Given that I remain skeptical if it can break past $28.75 - but should it do then there is no overhead resistance to send it even further. Cautious buyers could use GTC buy orders at $20.95 and/or $20.00 to catch a pullback (if any). There was no stock specific news to account for today's move. The second pick, GIGM, has been a laggard for a long time (personal experience!). The current breakout is too extended to be buying, but GTC orders somewhere inside the breakout gap and/or nearest support of $1.28 should be good for a fill over the coming days if overall market sentiment remains weak. However, if there was a powerful move past $1.43 it would make such events unlikely. For my analysis I am using $1.02 as a stop - but something closer to $1.28 returns a better risk:reward, although it still looks vulnerable to whipsaw at that. The big move came on its first profitable quarter. Technical strength, MACD in particular, is good. The third pick, PWLX, is perhaps the best of a speculative bunch of penny stocks. Some positive PR helped push this out of its recent slumber but it still has plenty of work to do to reach resistance. Long term holders could look to $0.50 as a price target (the last high with respect to open and close price only). Improving technicals help.

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"IBD" refers to Investors Business Daily

"*" Wrong chart was featured - consequently, incorrect trade prices were featured. All the more frustrating as the stock jumped 52% the next day. Apologies.