Here Are Friday’s Top Stocks

  • March 6, 2003
  • Chris Tyler

The ETFs all ended the day in the red, in yet another session marked by chop, light volume, and
good intraday opportunities for the disciplined daytrader (that’s right). Losses
in the index proxies were between a fraction of a percent for the QQQs to more
than a full percentage point for the DIAs. Gains for those trading intraday
setups were there once more, while the Generals (Institutions) continued to sit
on the sidelines, waiting for more clarity. Maybe they’ll get some of that
medicine tonight as Intel has a mid quarter update after the close, and
President Bush addresses the nation about issues related to Iraq. Does that mean
“Must See” TV will be delayed?

And then again, maybe
there won’t be clarity, and trading volume as well as volatility will continue
to wane. I can only speculate that this won’t continue for much longer, as
“something” has to give. Personally, the feeling is that with the
Year-To-Date Lows so close, and the October levels not much further South, that
a test of these supports will happen. During the past couple of weeks it seems
that with every little rally off the trading range lows, volatility levels
quickly test their range lows, signaling a red flag for yours truly. Aaah, good
to see everyone getting comfortable with the recent contracting gyrations of the
market as we approach supports.

Remember, this is only
an educated guess, which in the scheme of an ongoing news-driven market means
very little, and will probably be made to look very foolish shortly. I honestly
don’t know, but I can say with 100% conviction that the best opportunities for
daytraders continue to be available for those willing to do the work, and trade
the high-probability setups that occur each and every day, even if the rest of
Wall Street continues to sit “this one” out.

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


Weakest Sectors (HOLDRs): Regional
Banks
(
RKH |
Quote |
Chart |
News |
PowerRating) and Telecom
(
TTH |
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
H&R
Block
(
HRB |
Quote |
Chart |
News |
PowerRating)		 82 39.67 1,278M 960K
Biovail
(
BVF |
Quote |
Chart |
News |
PowerRating)		 93 38.19 1,103M 2,351M

class=890430920-15102001>
Apache
class=890430920-15102001>

(
APA |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
90
class=890430920-15102001>
66.59
class=890430920-15102001>
1,952M
class=890430920-15102001>
1,244M



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>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
General
Dynamics
(
GD |
Quote |
Chart |
News |
PowerRating)		 32 54.82 1,464M 4,569M

class=890430920-15102001>

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>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
NetScreen
Technologies
(
NSCN |
Quote |
Chart |
News |
PowerRating)		 82 19.14 1,372M 2,453M

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
Ross
Stores
(
ROST |
Quote |
Chart |
News |
PowerRating)		 16 32.97 1,749M 1,645M

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
Zimmer
Holdings
(
ZMH |
Quote |
Chart |
News |
PowerRating)		 88 44.79 1,127M 1,137M




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>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
Harley
Davidson
(
HDI |
Quote |
Chart |
News |
PowerRating)		 17 35.95 2,412M 3,493M
Lockheed
Martin
(
LMT |
Quote |
Chart |
News |
PowerRating)		 29 44.57 2,951M 5,234M

class=890430920-15102001>
Overture
class=890430920-15102001>

(
OVER |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
7
class=890430920-15102001>
16.90
class=890430920-15102001>
2,490M
class=890430920-15102001>
1,454M

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
Garmin
(
GRMN |
Quote |
Chart |
News |
PowerRating)		 93 32.34 SJ
w/extended intraday trendline breakout		 459K 220K

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.

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

Xilinx

(
XLNX |
Quote |
Chart |
News |
PowerRating)
79
22.71
10,448M
8,908M

eBay

(
EBAY |
Quote |
Chart |
News |
PowerRating)
85
78.86
5,803M
3,064M

Expedia

(
EXPE |
Quote |
Chart |
News |
PowerRating)
72
70.35
2,329M
1,610M

Adobe

(
ADBE |
Quote |
Chart |
News |
PowerRating)
51
26.75
2,782M
4,932M

class=890430920-15102001>Institutional
Laggards.



































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

Northern Trust

(
NTRS |
Quote |
Chart |
News |
PowerRating)
20
29.72
1,269M
2,662M

Omnicom

(
OMC |
Quote |
Chart |
News |
PowerRating)
14
49.02
1,956M
4,703M

Wal-Mart

(
WMT |
Quote |
Chart |
News |
PowerRating)
42
47.47
7,916M
9,128M

Best of luck with your trading. 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.