AOK
Wednesday
a.m., if you’re like the vast majority of investors, you might have
looked at the day’s activity at that point and said “no big deal.”
You would have seen the Dow and Nasdaq
basically flat.
You might have noticed the negative
breadth on the NYSE and Nasdaq.
You might have seen the dull volume
and wondered when volume is going to pick up and stay up.
But even in the a.m., deep beneath the
surface of the big averages and a-d line, things were happening.
I don’t mean an
“everything’s-taking-off” happening.
But rather a
“lots-of-stocks-are-doing-what-they-should-be-doing”
happening…meaning that they were stubbornly refusing to come off even after
some of the chunky gains witnessed earlier in the week and during last week.
This while turnover faded.
The key point to recognize is that
there were very few glamours showing any distribution in the a.m.
Or in the afternoon for that matter.
Or in any session recently.
Though this won’t be the case forever,
all that’s important is that it’s happening in the present.
Both glamours and genomics experienced
breadth that was close to 3 to 2 in favor of winners Wednesday.
Not great
breadth, but certainly respectable in light of the gains of late.
In the genomics, a few names tacked up
double-digit-percentage rises.
Among the names, Art Tech
(
ARTG |
Quote |
Chart |
News |
PowerRating)
came back on lighter trade.
Aurora
(
ABSC |
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Chart |
News |
PowerRating) hung there in its
narrow range on thinning activity.
Broadvision
(
BVSN |
Quote |
Chart |
News |
PowerRating), whose 15%
rise Tuesday was one of that session’s most encouraging developments, tacked on
another 3%.
Celgene
(
CELG |
Quote |
Chart |
News |
PowerRating) broke out of a
15-week base on dense volume.
Checkpoint
(
CHKP |
Quote |
Chart |
News |
PowerRating) continues to
trace a handle to go with its 12-week cup.
GSI Lumonics
(
GSLI |
Quote |
Chart |
News |
PowerRating) tiptoed back
on light flow after Tuesday’s heavy-volume flirtation with the top of its
handle.
Millennium Pharmaceuticals
(
MLNM |
Quote |
Chart |
News |
PowerRating)
continued to race up the right side of its cup, with turnover brisk.
SDL
(
SDLI |
Quote |
Chart |
News |
PowerRating) churned, lower for the
second day.
In all, a decent performance.