Here Are Thursday’s Top Stocks

  • February 26, 2003
  • Chris Tyler

It seems the only
thing in the black today, was “black gold,” as oil gushed to 12-year highs.

The ETFs, on the other hand, erased about
two thirds of yesterday’s gains, as reports out of Turkey and Hewlett
Packard gave nervous traders a reason to book some quick profits from
yesterday’s aberration. This action has anyone who followed
yesterday’s hero
(007) into resistance, feeling a bit betrayed by the “SPY Who Loved
Me” so much only yesterday, as the ETFs closed down over a percentage point
and change, and near day lows.

Technically the ETFs put in another
nice day —  that is, if you took the reversal setup against resistance levels
in today’s early trade. Kevin Haggerty could be heard saying, “It’s too
easy!!!” Tonight’s closing action means that as daytraders we can prepare
for tomorrow, and be ready for whatever the market dishes out to us. We do this
consistently every day by having our lists of High and Low RS issues, and
executing the setups as we see them present themselves on a daily basis.
Wednesday’s hero was no longer 007, but the well-loved 123. Who will be our
friend tomorrow, could it be the ever generous Mr. Slim? I don’t know ahead of
time, but I do know that I’ll always be prepared to greet an old friend as I see
them arrive.

Hottest Sectors (HOLDRs): Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating) and Oil
Services
(
OIH |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors (HOLDRs): Software
(
SWH |
Quote |
Chart |
News |
PowerRating) and Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)


Thursday’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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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
Apache
(
APA |
Quote |
Chart |
News |
PowerRating)		 89 65.80 1,975M 2,279M
Biovail
(
BVF |
Quote |
Chart |
News |
PowerRating)		 87 34.86 1,112M 664K



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>







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
XL
Capital
(
XL |
Quote |
Chart |
News |
PowerRating)		 30 69.94 785K 853K
United
Parcel
(
UPS |
Quote |
Chart |
News |
PowerRating)		 36 57.28 2,232M 2,540M

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.


None Today.


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.


















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
Omnicom
(
OMC |
Quote |
Chart |
News |
PowerRating)		 21 53.96 1,762M 4,221M

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
BMC
Software
(
BMC |
Quote |
Chart |
News |
PowerRating)		 85 19.78 2,069M 6,014M





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>










class=890430920-15102001>




























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
Xilinx
(
XLNX |
Quote |
Chart |
News |
PowerRating)		 57 20.98 SJ
w/closing “shake”		 10,164M 13,113M

class=890430920-15102001>
Avocent
class=890430920-15102001>

(
AVCT |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
86
class=890430920-15102001>
28.33
class=890430920-15102001>
Intra Trendline b/o
class=890430920-15102001>
539K
class=890430920-15102001>
2,069M

class=890430920-15102001>
Boeing
class=890430920-15102001>

(
BA |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
25
class=890430920-15102001>
27.84
class=890430920-15102001>
SJ on Sept.2000 test
class=890430920-15102001>
2,832M
class=890430920-15102001>
3,838M

class=890430920-15102001>Xilinx
is forming a potential shake -n- bake version of the SJ with a 50% Fib.
retracement (2/10-2/21), and the 13-Day EMA as support.



class=890430920-15102001>
Avocent
has broken out of an intraday downtrend, and reversed off of a test of the
prior Year-To-Date High (feb 5th), and closed in the top 38% of the day’s
trading range.


class=890430920-15102001>Boeing,
although a Low RS issue, made a test of the Sept. 2000 lows as it establishes a
potential SJ reversal pattern.


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>










class=890430920-15102001>



















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
Quest
Diagnostics
(
DGX |
Quote |
Chart |
News |
PowerRating)		 55 53.91 SJ
w/50-Day EMA resistance		 1,104M 2,409M

class=890430920-15102001>
Northrop
Grumman
class=890430920-15102001>

(
NOC |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
40
class=890430920-15102001>
87.87
1,2,3 SELL
class=890430920-15102001>
1,439M
class=890430920-15102001>
1,852M


class=890430920-15102001>
Quest
Diagnostics has broken a SJ which formed against 50-Day EMA resistance. The
stock is now consolidating below this larger pattern.


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)
90
26.39
3,795M
4,272M

Home Depot

(
HD |
Quote |
Chart |
News |
PowerRating)
63
22.88
15,129M
13,457M

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

General
Dynamics

(
GD |
Quote |
Chart |
News |
PowerRating)
15
60.35
1,922M
1,789M

Ross Stores

(
ROST |
Quote |
Chart |
News |
PowerRating)
14
33.77
1,793M
1,349M

Cintas

(
CTAS |
Quote |
Chart |
News |
PowerRating)
5
30.90
1,573M
1,852M

Microsoft

(
MSFT |
Quote |
Chart |
News |
PowerRating)
28
23.60
71,661M
57,231M

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


P.S. I’ve
just released a new trading module on Intraday Breakouts. If


class=890430920-15102001>
you’d like more information, click
here.