Ten Percenters

Hunting ten "percenters," or stocks that rise ten percent in a day, is fun, and often lucrative. Rare are the days when one gets 3 for 3.

The obvious one is ERY, written up this morning before pre-market. It broke out Friday and carried through this morning. It reached its 50-day moving average and tarried there for the balance of the day. Reaching its target of 24.50 was thought to take three days, but it nearly achieved it today.

TZA reflected and amplified a drop of nearly 4% in the Russell 2000. The market has entered into the long-expected first bull-market correction. TZA gapped outside its previous channel on opening, and finished the day on a second leg up. Note it is still within its new channel. Its 50-day moving average is at 27.42, within reach of another day like today.

FAZ was the late star of the day, after closing well down in the channel Friday, then popping out this morning, and running some more in the afternoon. Its 50-day moving average is at 6.33, within another day's effort. FAZ also closed in mid-channel, indicating a desire to continue.

Tomorrow may be a pause day in the market's decline. Many of the indices are closing at their 200-day and 50-day moving averages simultaneously. These three will reflect that pause. Then, again, the indices may not pause, but accelerate, which will reflect in these.