Five Strong Names In Healthcare
The market remains choppy in early afternoon
trading. Both the Dow Jones Industrial Average
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the Nasdaq Composite
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levels of the day and are trading positive. Many sectors fell underwater in the
later morning, but are now improving. The PHLX Semiconductor sector
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is up over 15 points and is trading above the 430 level. Some traders are
showing strong interest in consumer product stocks today on Procter &
Gamble’s
(
PG |
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The QQQs have fallen to levels that
have not been seen since the September lows. Don Miller has some interesting
comments on the action in the Qs.
Click here to read Don Miller.
Safeway
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SWY |
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earnings shortfall. Safeway is stating the cut in earnings is due to several
variables, softness in the economy, competitive activity, an overly aggressive
shrink effort, and disruptions associated with the centralization of buying and
merchandising. SWY expects Q2 EPS of $0.71-0.73 (consensus $0.77) and FY02 EPS
of $2.86-2.90 (consensus $3.13).
Also, Merrill Lynch downgraded Albertson’s
(
ABS |
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PowerRating) to NT NEUTRAL from BUY and trimmed its FY02 and FY03 EPS estimates
due to a belief Safeway and Kroger
(
KR |
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the back half of 2002. It is also important to note that Wal-Mart has become
more aggressive in the grocery business with its Sam’s Club Stores offering
groceries at a competitive discount.
Sierra Health Services
(
SIE |
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52-week high while attempting to break out of an ascending triangle. Today
volume is strong, which will be helpful for a breakout. SIE has a
TradingMarkets.com
RS3 rating of 99
and an uptrending
ADX of 27. Other Healthcare providers that are strong as well are
Mid-Atlantic Medical
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ATH |
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TGH |
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Anglogold
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AU |
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is in a countertrend rally.
With August gold
(
GCM2 |
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stocks, which have been performing well. Anglogold had a strong day yesterday
and is off to a strong start in the first part of today’s trading. AU has a
TradingMarkets.com
RS3 rating of 92
and an uptrending
ADX of 32.
Moody’s
(
MCO |
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moving average with increasing volume. MCO has a
TradingMarkets.com
RS3 rating of 88
and an uptrending
ADX of 35.
NYSE Breadth: 2002-06-12 13:19:00
Adv: 1218 Dec: 1906 Net: -688
UpVol: 3293928 DnVol: 6375554 Net: -3081626
NASDAQ Breadth: 2002-06-12 13:19:00
Adv: 1210 Dec: 2076 Net: -866
UpVol: 5096523 DnVol: 5091651 Net: +4872