Here Are Monday’s Top Stocks
The long and short of
it is this… you should be neither at the moment. The
ETFs closed somewhere between essentially flat to up about a half percentage
point, depending on your ETF flavor, on volume that was still high compared to recent
year-to-date statistics. The market had a great run up off an oversold condition
from the lows of Wednesday afternoon, and with the uncertainty of the
geopolitical situation hanging heavy over the market, along with the
commensurate price resistance, my neutral stance is predicated by thoughts of
the weekend, and the guarantee that the markets will reopen on Monday morning.
No upgrades too speak of, maybe
Monday, but nonetheless the ETFs did manage to gap higher, before pulling back
into what could be called a lateral consolidation for most of the session.
Markets, like people, often like to catch their breath after a big sprint. The
question is, will this runner keep his legs and continue, or decide to keel over
if there’s no further impetus, like well-planted rumors of unwavering goodwill
towards our hostile neighbors? “Can’t we all just get along?”….I
doubt it. Regardless of my thoughts though, we are squarely situated in
resistance, and with the percentage moonshot, the weekend seems like an awfully
good time to be contemplating a beer, rather than one’s stock position.
As daytraders, we have the very good
fortune to be able to come in with a clean slate, ready to trade whatever the
markets offer us that particular day. All it takes to enjoy this lil’ bit of
heaven is a lil’ bit of time over the weekend going through our list of the best
High and Low RS stocks. Come Monday, we’ll be ready to “trade em’ up or
down,” depending on how Wall Street decides to react to the rumors and news
of that particular trading day.
Hottest Sectors : Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating)
and Software
(
SWH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Health Maintanence
(
$HMO.X |
Quote |
Chart |
News |
PowerRating)
and Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)
Monday’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.
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 |
Biovail | ( BVF | Quote | Chart | News | PowerRating) | 90 | 39.06 | 1,168M | 1,666M |
Nike | ( NKE | Quote | Chart | News | PowerRating) | 84 | 49.75 | 1,351M | 2,340M |
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 |
| McKesson | ( MCK | Quote | Chart | News | PowerRating) | 26 | 23 | 1,472M | 2,406M |
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.
class=890430920-15102001>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 |
| Amerisourcebergen | ( ABC | Quote | Chart | News | PowerRating) | 16 | 46.76 | 1,662M | 1,962M |
| Ross Stores | ( ROST | Quote | Chart | News | PowerRating) | 31 | 36.12 | 1,764M | 1,719M |
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.
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 |
| Silicon Laboratories | ( SLAB | Quote | Chart | News | PowerRating) | 94 | 29.02 | 1,127M | 1,907M |
| Valero | ( VLO | Quote | Chart | News | PowerRating) | 84 | 39.94 | 1,406M | 1,012M |
| Expedia | ( EXPE | Quote | Chart | News | PowerRating) | 88 | 37.14 | 4,833M | 2,912M |
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.
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 |
| Altria..”oh look, a new listing” | ( MO | Quote | Chart | News | PowerRating) | 33 | 34.93 | 8,350M | 12,347M |
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.
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 |
| Nabors | ( NBR | Quote | Chart | News | PowerRating) | 68 | 38.02 | Low level Cup & Handle | 2,045M | 1,627M |
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.
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 |
| IDEC Pharmaceuticals | ( IDPH | Quote | Chart | News | PowerRating) | 45 | 30.28 | Asc.Triangle out of counter-uptrend | 3,501M | 5,632M |
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 |
Yahoo | ( YHOO | Quote | Chart | News | PowerRating) | 90 | 20.69 | 9,241M | 9,135M |
eBay | ( EBAY | Quote | Chart | News | PowerRating) | 89 | 83.91 | 6,046M | 7,609M |
Intuit | ( INTU | Quote | Chart | News | PowerRating) | 76 | 49.90 | 3,552M | 4,377M |
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 |
Biogen | ( BGEN | Quote | Chart | News | PowerRating) | 15 | 31.72 | 3,920M | 7,643M |
Boeing | ( BA | Quote | Chart | News | PowerRating) | 15 | 25..55 | 3,329M | 6,361M |
Cardinal Health | ( CAH | Quote | Chart | News | PowerRating) | 23 | 50.31 | 2,934M | 6,068M |
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.