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Toll Brothers Is a Top Gainer

By Gary Morrow

 About this article:
 Toll Brothers is ramping following last night's very strong preliminary fourth-quarter outlook. The stock is one of the top percentage gainers on the NYSE this morning with a 15% gain. Volume is exploding and is already the heaviest upside day of the year at four times the stock's daily average. The breakout today is a sharp reversal from the weak action over the past 12 weeks. Despite the fact that Toll Brothers had put in nine straight positive closes prior to today's breakout, the stock finished yesterday right in the middle of the bearish channel it has been tracing out since the August double weekly top. By the first day of trading this month, it was becoming obvious that 10 weeks of downside was running out of steam. Heading into last night's post-close report, the stock was set up well for a big rally. Today's huge...

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