January 31, 2013 at 17:58 PM EST
Few Stocks Failed In January, But They Offer Clues
Among January's breakouts, stocks that fell 8% below their ideal buy points were rare. Yet, it's helpful to study failure. Mortgage services and REIT Walter Investment (WAC) broke out of a cup-with-handle base on Jan. 7. The buy point was 45.71. Volume was 218% above average on the 8% gap-up gain. Sound good? There were reasons to doubt this breakout. Trade in a handle should be quiet, but this handle had two days of heavy downside volume. Also,
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