Friday’s Stocks To Watch
The market was too
preoccupied with the geopolitical sabre-rattling to give
much credence to Oracle’s (ORCL) prophesizing that
the worst may be behind us, or to a book to bill in the semiconductors that beat
expectations. Positive earning news from the likes of Lehman and Goldman also
failed to keep the market in the black. After an early morning attempt to gain
ground, the ETFs retreated to finish slightly off their lows, and in the red
for the day. The averages were fairly uniform Thursday, as they all finished
with losses close to the 1% mark.
Today’s lows in the SPYs and DIAs tested the
38% Fibonacci retracement levels from the October lows with fear as a bedfellow.
The volatility index
(
$VIX |
Quote |
Chart |
News |
PowerRating) was up roughly 10% to test its Dec.6 high.
That’s good news for the bulls, but slightly disturbing is the fact that the
(
$VXN |
Quote |
Chart |
News |
PowerRating)
did not follow its companion higher. Hmmm…? Volume was sufficient to mark
another day of distribution (so score one for the bears), and with the
volatility indices giving mixed signals, let’s just say tomorrow should
prove interesting. Make sure to keep up good trading habits, especially in
markets when the signals are mixed, as the old saying “bears make money,
bulls make money, but pigs get slaughtered” is even more relevant to
trading success.
Hottest Sectors (HOLDRs): Software
(
SWH |
Quote |
Chart |
News |
PowerRating)and Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Biotech
(
BBH |
Quote |
Chart |
News |
PowerRating) and
Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating)
Friday’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.
size=2>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Avid Technologies | ( AVID | Quote | Chart | News | PowerRating) | 97 | 21.36 | 400,000 | 700,500 |
| Boston Scientific | ( BSX | Quote | Chart | News | PowerRating) | 86 | 43.70 | 2,358,000 | 1,968,000 |
| CBRL Group | ( CBRL | Quote | Chart | News | PowerRating) | 80 | 29.45 | 580,000 | 2,174,000 |
Weak RS issues closing in
Bottom of Range.
Stocks
are scanned from 3 Month RS of 20 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.
class=890430920-15102001>
size=2>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Polaris Industries | ( PII | Quote | Chart | News | PowerRating) | 14 | 56.11 | 374,000 | 1,111,600 |
| Amerisourcebergen | ( ABC | Quote | Chart | News | PowerRating) | 11 | 54.30 | 2,030,000 | 1,731,000 |
| Mckesson | ( MCK | Quote | Chart | News | PowerRating) | 24 | 26.08 | 1,804,000 | 1,164,000 |
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>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| SanDisk | ( SNDK | Quote | Chart | News | PowerRating) | 90 | 22.73 | 4,342,000 | 3,067,000 |
| Storage Tech | ( STK | Quote | Chart | News | PowerRating) | 95 | 21.32 | 798,000 | 650,400 |
Weak RS issues with
Volume Surge in last hour.
Stocks are scanned
from 3 Month RS of 20 or lower and TM’s Implosion and Technology Implosion Lists
on the Indicators page.
size=2>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| SPX Corp | ( SPW | Quote | Chart | News | PowerRating) | 7 | 37.04 | 1,537,000 | 1,361,000 |
| Waters Corp | ( WAT | Quote | Chart | News | PowerRating) | 8 | 20.48 | 1,165,000 | 1,947,000 |
| Sonic | ( SONC | Quote | Chart | News | PowerRating) | 27 | 19.66 | 578,000 | 1,153,000 |
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>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Garmin Ltd. | ( GRMN | Quote | Chart | News | PowerRating) | 91 | 28.15 | 561,000 | 482,900 |
| Hewlett Packard | ( HWP | Quote | Chart | News | PowerRating) | 86 | 18.95 | 13,925,000 | 11,863,000 |
| ***Gtech Holdings | ( GTK | Quote | Chart | News | PowerRating) | 85 | 28.62 | 643,000 | 587,000 |
class=890430920-15102001>
***Gtech Holdings
is forming what is called an Extended Slim Jim. Check out a 15 minute chart.
The past three sessions (extended intraday) have formed a .95 wide
consolidation on top of recent gains.
Weak RS Slim Jimsclass=890430920-15102001>.
class=890430920-15102001>Stocks
are scanned from 3 Month RS of 20 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.
size=2>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Chubb Corp | ( CB | Quote | Chart | News | PowerRating) | 22 | 53.80 | 1,789,000 | 1,263,000 |
| Express Scripts | ( ESRX | Quote | Chart | News | PowerRating) | 17 | 47.39 | 1,830,000 | 1,388,000 |
Best of luck with your trading Friday. Please use
protective stops on trades.