Here Are Friday’s Top Stocks

  • April 24, 2003
  • Chris Tyler

More earnings reports out of
Corporate America had our venerable herd consolidating their recent meal of
equities. After two days of nice
posturing into more fertile ground, today’s price action had the bulls pulling
back into a “sitting position” on their newly claimed turf. The ETFs closed down
between roughly one half, and a full percentage point. Heavy
“relative” volume
was not enough to establish a day of distribution, so maybe today’s losses could
be more of a sign of slight indigestion than anything else.

Price supports held in both the SPYs and the QQQs,
while the DIAs continue to be bound by an ascending triangle on the daily chart.
On weaker volume, the action still looks good, but I can’t emphasize enough that
the VIX continues to wave a red flag of caution. What this represents to
position players, is a way to play smarter. There have been plenty of
“mines” in some leading issues the last three days, so if you’re going
to ride the bull, you might as well “do it from a better position.”

For the rest of us daytraders out there, the best
way to navigate through the ebbs and flows of the marketplace is by keeping our
list of High and Low RS stocks by our sides. By having our stocks and levels
prepared ahead of time, we’ll be ready to listen, and able to act decisively to
the markets next siren song, affording us a safe journey to our ultimate
destination of consistent, profitable trading.

Hottest Sectors : Biotech
(
BBH |
Quote |
Chart |
News |
PowerRating) and Software
(
SWH |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors : Broker / Dealers
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)
and Semiconductors
(
SMH |
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.




class=890430920-15102001>









class=890430920-15102001>









class=890430920-15102001>









size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Citrix Systems


(
CTXS |
Quote |
Chart |
News |
PowerRating)
82
18.18
3,558M
22,148M

Netease

(
NTES |
Quote |
Chart |
News |
PowerRating)
93
22.31
1,086M
2,201M




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>

















size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
VolumeR

Reebok

(
RBK |
Quote |
Chart |
News |
PowerRating)
48
31.16
723K
1,631M

Cabot Microelectronics

(
CCMP |
Quote |
Chart |
News |
PowerRating)
58
44.44
952K
1,537M

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 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
VolumeR

Hyperion Solutions

(
HYSL |
Quote |
Chart |
News |
PowerRating)
55
292.1
716K
1,353M

Silicon Laboratories

(
SLAB |
Quote |
Chart |
News |
PowerRating)
89
31.15
961K
1,468M

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 face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
VolumeR

Anglogold

(
AU |
Quote |
Chart |
News |
PowerRating)
16
28.62
983K
1,076M

Fifth Third Bancorp

(
FITB |
Quote |
Chart |
News |
PowerRating)
14
47.72
2,732M
2,713M


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 face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Getty Images


(
GYI |
Quote |
Chart |
News |
PowerRating)
74
33.44
288K
757K





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>









class=890430920-15102001>









class=890430920-15102001>









size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Investors Financial
Services


(
IFIN |
Quote |
Chart |
News |
PowerRating)
17
22.55
845K
1,064M

Adolph Coors

(
RKY |
Quote |
Chart |
News |
PowerRating)
18
48.79
429K
1,022M

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

short or 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 face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price Direction Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Lexmark
(
LXK |
Quote |
Chart |
News |
PowerRating)		 70 69.89 LONG SJ 1,603M 977K

class=890430920-15102001>
Hotels.com
class=890430920-15102001>

(
ROOM |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
93
class=890430920-15102001>
68.70
class=890430920-15102001>
SHORT
class=890430920-15102001>
Low level SJ w/daily 2week trendline break
class=890430920-15102001>
1,284M
class=890430920-15102001>
518K

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 or long 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 face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price Direction Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Fiserv
(
FISV |
Quote |
Chart |
News |
PowerRating)		 29 29.75 LONG Intraday
DoubleBottom w/test of approx. 70%fib.retrace. & Boll.Bands (21,2.612)		 1,721M 4,392M


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 face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Veritas

(
VRTS |
Quote |
Chart |
News |
PowerRating)
79
22.15
8,034M
24,338M

Gilead Sciences

(
GILD |
Quote |
Chart |
News |
PowerRating)
81
46.73
class=890430920-15102001>
3,930M
6.506M

Starbucks

(
SBUX |
Quote |
Chart |
News |
PowerRating)
64
25.23
4,464M
5,304M

Genzyme

(
GENZ |
Quote |
Chart |
News |
PowerRating)
42
39.38
3,103M
8,042M

Institutional Laggards



class=890430920-15102001>









class=890430920-15102001>









class=890430920-15102001>









size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

Qualcomm

(
QCOM |
Quote |
Chart |
News |
PowerRating)
13
32.63
15,561M
25,564M

3M Company

(
MMM |
Quote |
Chart |
News |
PowerRating)
32
125.72
2,708M
3,750M

Best of luck to everyone. Please use
protective stops on class=890430920-15102001> all trades.


P.S. I’ve
just released a new trading module on Intraday Breakouts. If
you’d like more information, click
here.