Here Are Monday’s Top Stocks

  • February 28, 2003
  • Chris Tyler



A mixed session for the market ETFs,
and anything but the placing of the proverbial "chips on the table" (volume)
needed to send a clear technical message.
“Up,
down, and all around, and when you get off the carousel you’ll find yourself at
home, in the ‘range’…that is.”
As said, the averages were
mixed, with the QQQs up a percentage point, the DIAs flat on the session, and
the SPYs finding itself somewhere between this “range”…how
appropriate.

Technically
we remain entrenched, but for those of you who like to keep the chips on the
table after the casino closes, keep a close eye on the leading sector at this
juncture, namely the semiconductors and their respective HOLDR, the
(
SMH |
Quote |
Chart |
News |
PowerRating).
Am I crazy, or does this look like a Cup & Handle at breakout levels? Look at
the daily chart from the Jan. 17 gap down, and then for some expert
analysis do yourself a favor and check out
Ed Allen’s article.

For all others, meaning us daytraders,
there continue to be good trades for those who have done their work the night before,
regardless if the semis break out, or break down from here. This is “the
one” table, besides the seat behind the Specialist counter that continues
to offer trade opportunities. So, even though it’s the weekend, remember to keep
some time open to do your nightly work. Come Monday you’ll have the
confidence needed, to put your chips down on a good bet (trade).

Hottest Sectors (HOLDRs): Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating) and Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors (HOLDRs): Software
(
SWH |
Quote |
Chart |
News |
PowerRating) and Oil
Services
(
OIH |
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.




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class=890430920-15102001>







size=2>Name

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

Mylan

(
MYL |
Quote |
Chart |
News |
PowerRating)
89		 28.56
1,615M		 1,946M

St.
Judes

(
STJ |
Quote |
Chart |
News |
PowerRating)
94		 45.68
1,842M		 833K




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.

None Today.

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.


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.



None Today.


Stocks in Slim
Jims


High RS Slim Jims.

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>Name

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

Yahoo

(
YHOO |
Quote |
Chart |
News |
PowerRating)
87		 20.86
8,766M		 11,756M

Barr
Labs

(
BRL |
Quote |
Chart |
News |
PowerRating)
87		 72.91
736K		 396K





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>Name

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

Ross
Stores

(
ROST |
Quote |
Chart |
News |
PowerRating)
13		 34.21
1,813M		 1,198M

Automatic
Data Processing

(
ADP |
Quote |
Chart |
News |
PowerRating)
18		 32.50
2,607M		 1,841M


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>Name

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

Apache

(
APA |
Quote |
Chart |
News |
PowerRating)
87
65.28		 SJ from
3-Day downtrend		 1,980M
1,739M

class=890430920-15102001>
Storage
Technology


class=890430920-15102001>

(
STK |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
66
class=890430920-15102001>
23.12


class=890430920-15102001>
3-Day asc.triangle
class=890430920-15102001>
768K
class=890430920-15102001>
528K


class=890430920-15102001>
Storage
Technology ascending triangle is forming using the 15-Minute extended chart.




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>










class=890430920-15102001>



















size=2>Name

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

Wendy’s

(
WEN |
Quote |
Chart |
News |
PowerRating)
38
25.33		 SJ
Reversal		 1,127M
675K

class=890430920-15102001>
Cheesecake
Factory

class=890430920-15102001>

(
CAKE |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
22
class=890430920-15102001>
29.59


Doubledecker SJ
class=890430920-15102001>
853K
class=890430920-15102001>
625K

class=890430920-15102001>

Cheesecake
Factory was on the same list yesterday, but established slightly higher levels,
that ultimately penetrated a one-and-a-half month downtrend line by approx. .30.
This high established a Slim Jim consolidation that broke down into another
formation of the same name. Closing levels have the stock testing pattern lows.
A break of this support, assuming we open within .15 of the close, would set up
short entries with initial stop losses at either prior supports, or the top of
the prior pattern, with less shares to compensate for additional risk.

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>Name

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

Xilinx

(
XLNX |
Quote |
Chart |
News |
PowerRating)
76
22.90

10,240M
12,765M

Apollo

(
APOL |
Quote |
Chart |
News |
PowerRating)
66
46.31

1,907M
2,088M

Intuit

(
INTU |
Quote |
Chart |
News |
PowerRating)
65

47.43
3,340M
4,577M

Starbucks

(
SBUX |
Quote |
Chart |
News |
PowerRating)
73

23.42
3,877M
5,847M

Institutional
Laggards.



























size=2>Name

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

Eli Lilly

(
LLY |
Quote |
Chart |
News |
PowerRating)
26
56.56

3,037M
2,901M

United Parcel

(
UPS |
Quote |
Chart |
News |
PowerRating)
34

57.62
2,228M
2,294M

Best of luck with your trading. Please use
protective stops on 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.