Here Are Monday’s Top Stocks

  • May 9, 2003
  • Chris Tyler

Apparently the Diamonds (DIA)
are safe. After a two-session bout of
profit-taking, the Wall Street gang decided it was time to go bargain-hunting in
Friday’s session. Volume was on par with yesterday’s lighter “relative” volume
as the ETFs gained between 1.25 to 2.3%. Technology led the way today,
specifically on news out of semiconductor heavyweight, Intel
(
INTC |
Quote |
Chart |
News |
PowerRating).
A well-received earnings report out of NVIDIA
(
NVDA |
Quote |
Chart |
News |
PowerRating), closed out the
“1-2 Punch” that sent the sector flying
(
SMH |
Quote |
Chart |
News |
PowerRating), up 4%. Market breadth
was decidedly bullish as advancers led decliners by over 2:1 on Nasdaq issues, and a ‘whooping’ 3:1 on the NYSE.

Today the market was lent a helping hand (volume)
by those who are used to working a five-day work week. As mentioned, volume was
relatively light compared to some of the recent accumulation action, but all
things considered, it looked like investors were more than willing to “reach
out” today, and help along their favorite friends (stock). This lends itself to
a somewhat bullish bias, especially considering that it was “a Friday,” and the
markets finished strong, after going up on decent volume during the first part
of Friday’s trade. Today’s gains made up for much that was lost during the prior
two sessions, but on a weekly basis, the gains were less significant, as they
were held between .4 – .8%.

The VIX struck a new multi-year low, and I’m sure
that all of those sentiment indicators such as the Investors Intelligence survey
(are they really?) will be confirming caution as we head into Monday’s trade.
The only thing I’ll be urging though, is that you stay at least one step ahead
of this crowd by continuing to prepare your nightly list of High and Low RS
issues. Some might call it crazy or absurd, but the way to make consistent gains
as a daytrader is by always taking the quality setups, long or short, as you
see them appear each and every day. Of course this only happens on a daily
basis, if you’re prepared to act intelligently “on the madness of crowds,” that seems
to be an everyday occurrence. Have a good weekend, and I’ll be back to greet you
all in another week. Aloha!!!

Hottest Sectors : Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)
and Biotech
(
BBH |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors : Utilities
(
UTH |
Quote |
Chart |
News |
PowerRating) and Regional
Banks
(
RKH |
Quote |
Chart |
News |
PowerRating)


Monday’s HELVETICA>stocks to watch:


High

RS issues
closing in Top of Range.

Stocks are scanned from 3 Month RS of 80 or higher
and TM’s Proprietary and Technology 10 Momentum lists on the Indicators page.




class=890430920-15102001>









class=890430920-15102001>









class=890430920-15102001>

















size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Artisan Components


(
ARTI |
Quote |
Chart |
News |
PowerRating)
84
22.75
319K
1,826M

Boston Scientific

(
BSX |
Quote |
Chart |
News |
PowerRating)
58
46.91
2,751M
2,839M

class=890430920-15102001>
Protein Design Labs
class=890430920-15102001>

(
PDLI |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
74
class=890430920-15102001>
10.51
class=890430920-15102001>
1,166M
class=890430920-15102001>
2,683M




Weak RS issues closing in
Bottom of Range.

Stocks
are scanned from 3 Month RS of 35 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.

class=890430920-15102001>



















size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Styker


(
SYY |
Quote |
Chart |
News |
PowerRating)
24
64.10
3,752M
1,162M


High RS issues with Volume
Surge in last hour.

Stocks are scanned from 3 Month
RS of 80 or higher and TM’s Proprietary and Technology 10 Momentum lists on the
Indicators page.




class=890430920-15102001>









class=890430920-15102001>









class=890430920-15102001>









size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

OmniVision


(
OVTI |
Quote |
Chart |
News |
PowerRating)
91
28.64
1,492M
827K

Gen-Probe

(
GPRO |
Quote |
Chart |
News |
PowerRating)
95
35.56
405K
956K

Weak RS issues with
Volume Surge in last hour.

Stocks are scanned
from 3 Month RS of 35 or lower and TM’s Implosion and Technology Implosion Lists
on the Indicators page.




class=890430920-15102001>









class=890430920-15102001>









size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

SLM Corp.


(
SLM |
Quote |
Chart |
News |
PowerRating)
29
109.30
987K
1,434M


Stocks in Slim
Jims


High RS Slim Jims.

class=890430920-15102001>Stocks are
scanned from 3 Month RS of 80 or higher and TM’s Proprietary and Technology 10
Momentum lists on the Indicators page.




























size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Mid-Atlantic Medical


(
MME |
Quote |
Chart |
News |
PowerRating)
81
45.94
485K
739K

Hovnanian

(
HOV |
Quote |
Chart |
News |
PowerRating)
78
43.31
478K
755K





Weak RS



Slim Jimsclass=890430920-15102001>.

class=890430920-15102001>Stocks
are scanned from 3 Month RS of 35 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.

class=890430920-15102001>






class=890430920-15102001>









class=890430920-15102001>









class=890430920-15102001>









size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Fiserv


(
FISV |
Quote |
Chart |
News |
PowerRating)
8
29.32
1,919M
2,106M

Krispy Kreme

(
KKD |
Quote |
Chart |
News |
PowerRating)
21
30.60
685K
1,114M

class=890430920-15102001>
High RS
Reversal Patterns.

Stocks with 3 Month RS of 80 and / or
Institutional Favorites that are setting up on a closing basis as potential

short or long reversal pattern
candidates. Candidates listed may have triggered on a closing basis, or close to
triggering ( my general rule is to list the pattern setup if it is within +/-.15
of trigger price). Patterns include 1,2,3s
,Slim Jim (SJ)
consolidations, and Triangles. Background
supports in the form of Fibonacci levels, EMAs (DEMA=daily ema), and former price supports are
used in the decision making process.




class=890430920-15102001>











class=890430920-15102001>











size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price Direction Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Avocent
(
AVCT |
Quote |
Chart |
News |
PowerRating)		 59 28.05 LONG Angular SJ
off 38% Daily Fibonacci support		 958K 657K



class=890430920-15102001>Low RS
Reversal Patterns.

Stocks with 3 Month RS of 35 and / or
Institutional Favorites that are setting up (within .15 of trigger) on a closing basis as potential

short or long reversal pattern
candidates. Patterns include 1,2,3s and Slim Jim (S.J.) consolidations. Whenever
possible background evidence of resistance in the form of Fibonacci levels, EMAs, and former price supports are
used in the decision making process.




class=890430920-15102001>











class=890430920-15102001>











size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price Direction Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
j2
Global
(
JCOM |
Quote |
Chart |
News |
PowerRating)		 47 28.95 LONG SJ HOD off
daily double pivot reversal bar		 608K 536K



class=890430920-15102001>


Institutional
Favorites

and Institutional
Laggards.



The following stocks are selected from
the Nasdaq, S&P 500 & 600 Indices, and HOLDRs. These are normally heavily traded,
liquid issues that
are exhibiting relative strength or weakness, pattern (Slim
Jims), or last hour volume surges, indicative of follow through in the very near term. Due to the
institutional participation, which can provide additional follow through not
always found in less active issues, the 3 Month RS criteria is more subjective, and quite often less stringent in
evaluating an issues near term prospects. Program trading (which affects many of these
issues) can also be viewed as a potential beneficial factor when stocks listed
below are exhibiting price pattern setups on an intraday and / or daily chart
basis.

Institutional
Favorites











































size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Network Appliance

(
NTAP |
Quote |
Chart |
News |
PowerRating)
84
15.71
7,100M
8,636M

Checkpoint Software

(
CHKP |
Quote |
Chart |
News |
PowerRating)
73
18.05
3,184M
5,737M

National Semiconductor

(
NSM |
Quote |
Chart |
News |
PowerRating)
88
21.80
2,698M
4,184M

Linear Technologies

(
LLTC |
Quote |
Chart |
News |
PowerRating)
77
36.34
7,204M
7,138M

Institutional
Laggards.



class=890430920-15102001>









class=890430920-15102001>









size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

3M Corp

(
MMM |
Quote |
Chart |
News |
PowerRating)
15
122.81
2,847M
2,756M

Best of luck to everyone. Please use
protective stops on class=890430920-15102001> all trades.


P.S. I’ve
just released a new trading module on Intraday Breakouts. If
you’d like more information, click
here.