Here Are Friday’s Top Stocks

  • April 3, 2003
  • Chris Tyler

Late afternoon trade in Thursday’s session saw the “now-fattened
ducks” sink
quickly, and below sea level. The
SPYs and the DIAs each finished down roughly half a percentage point, while the
QQQs did manage to hold on to slight gains.
 From the
lunchtime hour to about 2 PM ET, it looked like the “quacking
ducks” might force the market into flight. But, as they quieted down into
the 3 o’clock hour, the ducks went from “sitting” to quickly
“diving under water.” This action has the indices closing at their
worst levels, after an initial opening gap higher on more built up enthusiasm
over progress in the Middle East. My own opinion is that if investors want to be
bulls, it’s better to just say “mooo,” rather than “quack,
quack” in a pond full of ducks trying to fly and eat at the same time.

Volume
in the averages was lower, so IBD can point out that today’s downside mix was
“just the type of action that we like to see.” As for me, I don’t like the big
red bar that marked today’s trade, and the VIX, while up today continues, at a
minimum, to raise flags of caution. Fortunately, if my opinion is wrong I always
carry my ace in the hole. By doing our homework diligently, and readying
ourselves with tomorrow’s list of High and Low RS stocks, we continue to be
ready to win. There’s no better way to sit down at the table, than knowing that
you’re an odds-on favorite, because you dealt your own hand, ahead of
time.

Hottest Sectors : Internet
(
HHH |
Quote |
Chart |
News |
PowerRating)
and Health Medical
(
$HMO.X |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors : Telecomm
(
TTH |
Quote |
Chart |
News |
PowerRating)
and Oil Services
(
OIH |
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.




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size=2 Helvetica>Name

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

Pharmaceutical
Resources

(
PRX |
Quote |
Chart |
News |
PowerRating)
92
43
527K
714K

Microstrategy

(
MSTR |
Quote |
Chart |
News |
PowerRating)
95
26.90
466K
578K

class=890430920-15102001>
Garmin
class=890430920-15102001>

(
GRMN |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
84
class=890430920-15102001>
36.48
class=890430920-15102001>
510K
class=890430920-15102001>
706K



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>Name

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

Fifth Third
Bancorp

(
FITB |
Quote |
Chart |
News |
PowerRating)
16
49.05
2,755M
2,548M

Cymer Inc.

(
CYMI |
Quote |
Chart |
News |
PowerRating)
14
24.48
1,914M
2,051M

General
Dynamics

(
GD |
Quote |
Chart |
News |
PowerRating)
11
55.34
2,552M
1,302M

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.




















size=2 Helvetica>Name

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

BMC Software

(
BMC |
Quote |
Chart |
News |
PowerRating)
21
15.82
2,871M
2,572M

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>Name

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

Cablevision

(
CVC |
Quote |
Chart |
News |
PowerRating)
88
20.35
2,358M
1,620M






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>

None Today.



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>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica>Price Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Electronic
Arts
(
ERTS |
Quote |
Chart |
News |
PowerRating)		 81 50.35 High
level intraday SJ after downside gap		 3,498M 3,707M

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>Name

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

IDEC
Pharmaceuticals

(
IDPH |
Quote |
Chart |
News |
PowerRating)
83
37.26
3,505M
7,390M

Yahoo

(
YHOO |
Quote |
Chart |
News |
PowerRating)
93
24.38
10,309M
13,882M

class=890430920-15102001>Institutional
Laggards.



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class=890430920-15102001>









size=2 Helvetica>Name

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

Symantec

(
SYMC |
Quote |
Chart |
News |
PowerRating)
26
40.25
6,575M
5,151M

State Street

(
STT |
Quote |
Chart |
News |
PowerRating)
15
32.75
2,421M
2,022M

Intuit

(
INTU |
Quote |
Chart |
News |
PowerRating)
9
37.80
4,817M
3,935M

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


class=890430920-15102001>
you’d like more information, click
here.