Monday’s Top Stocks
Did I get it wrong? Well considering the potpourri of both closing prices and
volume statistics in today’s trade–this cautious bull doesn’t think so. With
a .32% loss on lower volume in the Nasdaq, to a .75% gain in the still glittering
Dow Jones Diamonds (DIA), but also on below-average trade, it sure looked like
a strange one to these hazel orbs. But, we’re not done yet. Throw the S&P
500 into the mix, with a fractional gain of .50%, on its heaviest volume in
over a month, and this most certainly confirmed the head-spinning in today’s
trade. And to that, all I have to say is, ‘thank god it’s Friday.’
So go ahead, shoot me if you think I’ve gotten it wrong–but please, just use
one of those fancy weapons from Taser (TASR), ’cause for the second day in a
row, that little momentum issue has kept the market from ‘stinging’ too much.
From a 102 entry out of an intraday triangle pattern, some of our chat members
got to enjoy at least some of the ride up to 115. Who knew? I most certainly
didn’t know how long the ride would last, but I did get to ‘kill it’ for those
that read my intraday analysis–and that’s what matters most. Will the run continue?
I dunno, but I would like our own little run in Taser to keep on going, and
going, and going. So thank you Taser, but more importantly–thanks go out to
our disciplined, consistent daytrading tactics–adding to the only bottom line
of importance in this little guy’s universe.
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VXO ( $VXO | Quote | Chart | News | PowerRating) |
15.67 | down .57 | cvn 1 sell | 0% | not at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
22.47 | down .36 | cvr 1 buy | 3% above | not at extreme |
Hottest Sectors : Oil Services
(
OIH |
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PowerRating)
Weakest Sectors : Semiconductors
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SMH |
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Monday’s stocks to watch:
Technical Strength.
Stocks are scanned from TM’s Proprietary and Technology 10 Momentum lists on
the Indicators page, as well as being hand selected, based on the most recent
technical action. This may include some or all of the following: abnormal
volume, price patterns, as well as bullish action off of technical price
supports or clearance of technical resistance in that day’s session.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| FARO Tech | ( FARO | Quote | Chart | News | PowerRating) |
22.44 | Top of range, increased volume daily hammer bar on 123 daily chart reversal pattern |
475 | 390 |
| Whole Foods | ( WFMI | Quote | Chart | News | PowerRating) |
76.90 | top of range consolidation on angular base b/o |
715 | 680 |
| Misonix | ( MSON | Quote | Chart | News | PowerRating) |
10.90 | top of range close on increased, above-average momentum b/o of short daily base to fresh 52-week highs |
182 | 890 |
Technical Weakness.
Stocks are scanned from TM’s Implosion and Technology Implosion Lists on the
Indicators page, as well as being hand selected, based on the most recent
technical action. This may include some or all of the following: abnormal
volume, price patterns, as well as bearish technical action at key support,
or resistance levels based on closing prices.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| Coach | ( COH | Quote | Chart | News | PowerRating) |
39.85 | increased, above-average b/o of key daily supports, closing bottom of range |
1,432 | 1,388 |
| Symantec | ( SYMC | Quote | Chart | News | PowerRating) |
45.70 | Bottom of range consolidation on increased, above-average volume break of two week price supports |
4,788 | 5,914 |
Stock Reversal Setups Closing Basis.
Stocks that are setting up on a closing basis as potential long or short 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 basing patterns (Slim Jims, 1,2,3s,
Double bottoms) consolidations, and triangle reversals. Background technical
supports in the form of Fibonacci levels, EMAs (DEMA=daily ema), RS, and former
price action are used in the decision making process.
Long Reversals Closing Basis.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| NA | NA | NA | NA | NA | NA |
Short Reversals Closing Basis.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| NA | NA | NA | NA | NA | NA |
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, patterns (consolidations or Slim Jims) , or
last hour volume surges, indicative of follow through in the very near term.
Institutional Favorites
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Biogen Idec | ( BIIB | Quote | Chart | News | PowerRating) |
59.46 | 5,259 | 4,823 |
| Citrix | ( CTXS | Quote | Chart | News | PowerRating) |
21.64 | 3,198 | 3,066 |
| Dell | ( DELL | Quote | Chart | News | PowerRating) |
35.37 | 17,891 | 14,701 |
Institutional Laggards.
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Dow Jones ETF | ( DIA | Quote | Chart | News | PowerRating) |
104.66 | 6,742 | 5,904 |
| Intuit | ( INTU | Quote | Chart | News | PowerRating) |
42.09 | 2,539 | 3,357 |
| Juniper | ( JNPR | Quote | Chart | News | PowerRating) |
25.17 | 17,252 | 15,190 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler