Here Are Monday’s Top Stocks

  • May 2, 2003
  • Chris Tyler

Friday’s trade was decision time, and an end to our three dojis.

I guess one could liken the ETFs action to that of the three blind mice
characters, not knowing which way to go until they reached out with their ‘big
white stick’. In their case the cane was used for direction, while in the case
of the market, traders ‘saw the light’, by ending the day with a white, wide
range bar. All three of our central characters were up between 1.5 and 2% on the
session, with solid volume and breadth statistics to back up closing prices.

The three blind mice did a nice job of finding
their footing in today’s trade, let’s just hope that they keep that ‘stick
raised’ in the upright position. With today’s action, we are at the high end of
some serious resistance. Channel and trendline resistance on weekly and
60-Minute charts, as well as pattern resistance based on Fibonacci cycles (Derrik
Hobbes), as well as December and January pivot highs are now at arms length.
Will the mice find a helping hand to pull them over this formidable obstacle?
Today, we saw nice crowd support (volume) to indicate the necessary help that
will be needed is available…lets just hope that Wall Street doesn’t decide to stop playing
the pied piper to ‘our mice’. We always have to be on the lookout for the less
friendly game of musical chairs. When Wall Street does decide to stop the music,
we don’t want to be the last one to take a seat. 

Of course, if the game does change, we’ll be
ready as always, because we were able to do the work ahead of time. With an
extra couple of days, you’ll have plenty of candidates ready for Monday. Whether
or not Mr. Market leads with the white stick, or decides to stop the music, and
taking a seat becomes a necessity, we’ll be going along for the ride with the
best stocks available for the game of the day.

Hottest Sectors :  Software
(
SWH |
Quote |
Chart |
News |
PowerRating) and
Broker / Dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)


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

ADTRAN 

(
ADTN |
Quote |
Chart |
News |
PowerRating)
84
43.65
834K
1,334M

eResearch

(
ERES |
Quote |
Chart |
News |
PowerRating)
94
33.50
360K
779K

 




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

Valero

(
VLO |
Quote |
Chart |
News |
PowerRating)
28
30.35
785K
686K

 


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 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

Pacificare Health 

(
PHSY |
Quote |
Chart |
News |
PowerRating)
91
35.20
514K
1,225M

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.

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 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

Hyperion Solutions 

(
HYSL |
Quote |
Chart |
News |
PowerRating)
67
29.90
736K
743K

Adobe

(
ADBE |
Quote |
Chart |
News |
PowerRating)
87
37.92
4,069M
5,778M

Digital Insight

(
DGIN |
Quote |
Chart |
News |
PowerRating)
95
16.43
342K
330K

Sandisk

(
SNDK |
Quote |
Chart |
News |
PowerRating)
96
25.52
3,194M
4,407M





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

short or 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 Direction Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Microstrategy
(
MSTR |
Quote |
Chart |
News |
PowerRating)		 92 28.75 SHORT SJ Near
session lows after attempt to reverse price action into daily chart
downward gap		 532K 717K

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 or long 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 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price Direction Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating)		 42 38.59 SHORT Head
& Shoulders intraday after YTD pivot high test		 2,409M 2,686M

class=890430920-15102001>
Cognizant
Technology
class=890430920-15102001>

(
CTSH |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
9
class=890430920-15102001>
18.30
class=890430920-15102001>
LONG
class=890430920-15102001>
1,2,3 Daily
class=890430920-15102001>
2,626M
class=890430920-15102001>
2,256M


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

Merrill Lynch

(
MER |
Quote |
Chart |
News |
PowerRating)
67
41.69
6,137M
6,910M

USA Interactive

(
USAI |
Quote |
Chart |
News |
PowerRating)
94
34.96
8,352M
21,450M

NVIDIA

(
NVDA |
Quote |
Chart |
News |
PowerRating)
90
15.90
6,574M
14,120M

Electronic Arts

(
ERTS |
Quote |
Chart |
News |
PowerRating)
66
61.78
3,012M
3,642M

Echostar

(
DISH |
Quote |
Chart |
News |
PowerRating)
76
32.12
3,637M
7,378M

Institutional
Laggards.



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

Starbucks

(
SBUX |
Quote |
Chart |
News |
PowerRating)
23
23.78
4,792M
6,851M

Kohls

(
KSS |
Quote |
Chart |
News |
PowerRating)
37
55.45
4,055M
5,540M

 

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.