Here Are Friday’s Top Stocks

  • April 10, 2003
  • Chris Tyler

Thursday wasn’t the most volatile
of sessions, and volume was definitely on the light side,

but for those paying
attention, the insignificant closing numbers didn’t mean there wasn’t
opportunity.

All
three ETFs ended the day with percentage gains between a quarter, and half of
one percent. Volume did come in slightly lighter than yesterday, and market
breadth was seen as mildly bullish as the index proxies closed at their highs of
the day.

As I said, for those paying attention there were
some solid intraday trade opportunities. Price and pattern setups were there for
the taking. Off of technical support levels sandwiched between two different
March Fibonacci cycles, both the DIAs and the SPYs presented RST opportunities
(two day 5 minute chart), confirmed by long entries off the intraday 1,2,3. The
RST actually presented itself prior to the 1,2,3, so this could have produced a
little on either the plus or minus side for those that took the first entry off
the 10:45 bar. Ultimately, a 1,2,3 was established, along with the
“new” 5 point, and that was nothing short of a beautiful, second long
entry, with the SPYs finishing up almost a full point from the buy trigger at
11:35.

With the strong close off of daily price supports
one could expect some follow thru in tomorrows session, but with the VIX still
being a secondary thorn in the bulls hide, I’m not sure what kind move is in
store. One thing’s for sure though, I’ll continue to concentrate on my list of
High and Low RS issues, and trade the setups as they present themselves. The
market may not follow thru tomorrow, but I’d sure like to continue on the same
road as today’s travels.

Hottest Sectors : Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
and Internet
(
HHH |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors :  Health Medical
(
$HMO.X |
Quote |
Chart |
News |
PowerRating)
and Biotech
(
BBH |
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

Nabors

(
NBR |
Quote |
Chart |
News |
PowerRating)
82
40.90
1,817M
1,632M

Netease

(
NTES |
Quote |
Chart |
News |
PowerRating)
93
18.93
893K
1,491M

 




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>



















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

International Rectifier

(
IRF |
Quote |
Chart |
News |
PowerRating)
14
17.09
800K
2,531M

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.


None Today.


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.


class=890430920-15102001>

None Today.



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>









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

eBay 

(
EBAY |
Quote |
Chart |
News |
PowerRating)
83
88.64
5,924M
6,041M

Expedia

(
EXPE |
Quote |
Chart |
News |
PowerRating)
94
51.26
4,942M
4,663M


 



 






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>

















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

Kraft 

(
KFT |
Quote |
Chart |
News |
PowerRating)
13
28.14
3,589M
8,112

class=890430920-15102001>
Northrop Grumman
class=890430920-15102001>

(
NOC |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
19
class=890430920-15102001>
81.38
class=890430920-15102001>
1,629M
class=890430920-15102001>
1,981M

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 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 Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Genzyme
(
GENZ |
Quote |
Chart |
News |
PowerRating)		 85 34.93 SJ
intraday continuation off 50-DEMA and 50% YTD Fib.cyc.		 3,233M 2,824M

class=890430920-15102001>
Fair Isaac
class=890430920-15102001>

(
FIC |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
94
class=890430920-15102001>
50
class=890430920-15102001>
Intraday SJ on a closing “Kings &
Queens” reversal daily
class=890430920-15102001>
554K
class=890430920-15102001>
541K

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 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>

None Today.




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

Diamonds ETF 

(
DIA |
Quote |
Chart |
News |
PowerRating)
42
82.46
9,231M
6,490M

Adobe

(
ADBE |
Quote |
Chart |
News |
PowerRating)
78
32.39
3,743M
2,099M

Linear Technology

(
LLTC |
Quote |
Chart |
News |
PowerRating)
48
31.23
6,755M
5,946M

Yahoo

(
YHOO |
Quote |
Chart |
News |
PowerRating)
87
24.27
11,012M
36,545M

Institutional
Laggards.



















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

Wyeth

(
WYE |
Quote |
Chart |
News |
PowerRating)
46
35.25
4,653M
8,001M

 

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 Intra-day Breakouts. If
you’d like more information, click
here.