Auto Stocks Poised to Zoom

Today is the old "rising tide lifts all boats" kind of day. All that was lost has been found and yada, yada, yada. I do think it's a good day to take profits if you'd been a buyer Wednesday. Absolutely keep a runner on, but cutting one-third to two-thirds at this point wouldn't be the worst thing. Tornier (TRNX), for instance, is up a quick 4% from the entry Wednesday, and it's 3% away from breaking the $20 trigger -- so I see no reason not to take one-third of this one off the table. Do I still like the chart? Absolutely, but that doesn't preclude me from being prudent.

The breakout scans are showing a large number of names today, but that's to be expected. In fact, I would have been shocked if that hadn't been the case. One group that may be worth taking for a spin on the long side is in the auto category -- and Tata Motors (TTM) in particular looks ready to print a breakout close for Thursday....304 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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