Here Are Wednesday’s Top Stocks

  • February 25, 2003
  • Chris Tyler

The markets took a
“Q” from James Bond today, as the early headlines were classic
material, worthy of this “SPYs” support. North
Korea shooting a test missile and a “shaken, but not stirred”
Consumer Confidence number
set the stage
for an early morning drubbing. Soon thereafter, a rumor, “From Russia With
Love” (trader talk of potential disarmament conversations between Russia
and Iraq) apparently set reversal patterns out of the sinister “trap door,” and upside continuation patterns in motion. 

By the closing bell it
was quite apparent that at least in today’s session, “DIAs are Forever.” Of course the “SPY Who Loved Me” was universally
revered and cherished by all who took the technical reversal and continuation
plays in today’s trade, but let’s not forget about our dear beloved
“Q” (QQQ). While not receiving top billing in today’s show, it
nonetheless managed to go along for the ride. Although this character was
showing a few gray hairs, it did close up on the day, while the other major
players took center stage with gains of a percentage point.

Technically the ETFs
put in a nice day. Volume was the strongest in several sessions on wide-range
bars that closed at session highs. What more could a position trader want? I’m
glad you ask, because it still looks like our friend the master “SPY”
007, is still surrounded by an enemy known as The Resistance. While today’s SPY
games were exciting and gave bulls the opportunity to get long and profit in
enemy territory, it must be reminded that today’s Russian friend, might once
again turn into a bear. It’s nice to know that as daytraders focusing on our
High and Low RS lists, we’ll be ready to profit from whatever SPY games are
played tomorrow, and not be concerned about being left out in the cold, deep
inside enemy territory.

Hottest Sectors (HOLDRs): Retail
(
RTH |
Quote |
Chart |
News |
PowerRating) and Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors (HOLDRs): Oil
Services
(
OIH |
Quote |
Chart |
News |
PowerRating) and Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)


Wednesday’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.




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size=2 Helvetica>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Cognizant
Technology
(
CTSH |
Quote |
Chart |
News |
PowerRating)		 84 69.91 1,129M 892K
NetScreen
Technologies
(
NSCN |
Quote |
Chart |
News |
PowerRating)		 88 20.27 1,205M 1,508M



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>







class=890430920-15102001>







size=2 Helvetica>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Scholastic
(
SCHL |
Quote |
Chart |
News |
PowerRating)		 3 23.68 848K 563K

class=890430920-15102001>

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.




















































size=2 Helvetica>Name

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

Power
Integrations

(
POWI |
Quote |
Chart |
News |
PowerRating)
82
22.58
612K
1,075M

Avocent

(
AVCT |
Quote |
Chart |
News |
PowerRating)
88
27.49
506K
648K

OmniVision

(
OVTI |
Quote |
Chart |
News |
PowerRating)
97
17.50
1,253M
1,690M

American
Pharmaceuticals

(
APPX |
Quote |
Chart |
News |
PowerRating)
65
22.10
627K
2,681M

Amgen

(
AMGN |
Quote |
Chart |
News |
PowerRating)
83
53.84
12,782M
14,069M

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.


None Today.


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.




class=890430920-15102001>







class=890430920-15102001>







size=2 Helvetica>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Wallace
Computers
(
WCS |
Quote |
Chart |
News |
PowerRating)		 89 25.46 793K 741K\




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>
None Today.


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 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 and Slim Jim (SJ) consolidations. 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>










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size=2 Helvetica>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica>Price Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Halliburton
(
HAL |
Quote |
Chart |
News |
PowerRating)		 80 19.94 Slim Jim 4,453M 5,304M

class=890430920-15102001>
State
Street
class=890430920-15102001>

(
STT |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
19
class=890430920-15102001>
36.16
class=890430920-15102001>
Cup & Handle Reversal
class=890430920-15102001>
2,079M
class=890430920-15102001>
2,682M

class=890430920-15102001>
Ross
Stores
class=890430920-15102001>

(
ROST |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
16
class=890430920-15102001>
34.70
class=890430920-15102001>
Cup & Handle Rev.
class=890430920-15102001>
1,787M
class=890430920-15102001>
1,568M

class=890430920-15102001>Halliburton
is forming a Slim Jim between the 38 and 50% Fib levels from the 2/20 Low to the
2/25 High.


class=890430920-15102001>State
Street and Ross Stores are Low RS potential longs out of Intraday Cup &
Handle formations. STT looks particularly interesting due to the volume activity
during the final hour of trade.


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 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>None Today.


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>Name

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

EchoStar
Communications

(
DISH |
Quote |
Chart |
News |
PowerRating)
92
26.50
3,806M
2,742M

Paccar

(
PCAR |
Quote |
Chart |
News |
PowerRating)
80
48.14
1,158M
1,586M

Symantec

(
SYMC |
Quote |
Chart |
News |
PowerRating)
76
47.92
3,562M
3,550M

Yahoo

(
YHOO |
Quote |
Chart |
News |
PowerRating)
84
20
9,033M
5,920M

Apollo

(
APOL |
Quote |
Chart |
News |
PowerRating)
68
44.88
1,908M
1,478M

Nextel

(
NXTL |
Quote |
Chart |
News |
PowerRating)
78
13.95
17,358M
24,159M

class=890430920-15102001>Institutional
Laggards



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class=890430920-15102001>









class=890430920-15102001>









size=2 Helvetica>Name

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

Amerada Hess

(
AHC |
Quote |
Chart |
News |
PowerRating)
19
43.81
920K
2,235M

Boeing

(
BA |
Quote |
Chart |
News |
PowerRating)
25
28.19
2,808M
4,816M

Best of luck with your trading. Please use
protective stops on class=890430920-15102001> all trades.


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just released a new trading module on Intraday Breakouts. If


class=890430920-15102001>
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here.