Here Are Monday’s Top Stocks
The ETFs ended the day, as well as the week in mixed fashion. On
lighter volume, and more uncertainty hanging over the markets, the DIAs and SPYs
managed to eke out small percentage gains of approximately half a point, while
the QQQs finished down about one and a half percent. For the week, the end
results were marked by similar scores, as the two former market proxies finished
up about two percent, and the QQQs came out essentially flat for the five day
stretch. Warnings out of PeopleSoft
(
PSFT |
Quote |
Chart |
News |
PowerRating), Affymetrix
(
AFFX |
Quote |
Chart |
News |
PowerRating), and
STMicroelectronics
(
STM |
Quote |
Chart |
News |
PowerRating) were primary culprits responsible for softness in
the tech-heavy NASDAQ in Friday’s trade.
TGIF. Although the indices have
continued to hold up well overall, the market landscape has been riddled with
casualties from earnings and / or guidance landmines. The fact that the VIX and
other sentiment indicators are still showing a wee bit too much enthusiasm, is
also waving a flag of caution. For a market who’s only bullish underpinnings
seem to be headlines out of the Middle East, and how quickly we’re wrapping up
our military campaign, is also a concern for me, to be quite frank. But, since my
name is Chris and not Frank, my real concern is making sure that I’m ready for
Monday by having my list of High and Low RS stocks from which to base my trades,
as they setup during the next trading session.Â
Hottest Sectors :Â Banking Index
(
$BKX.X |
Quote |
Chart |
News |
PowerRating) and Utilities
(
UTH |
Quote |
Chart |
News |
PowerRating)Â
Weakest Sectors :Â Software
(
SWH |
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 |
Pharmaceutical Resources | ( PRX | Quote | Chart | News | PowerRating) | 93 | 44 | 538K | 468K |
OmniVision Technology | ( OVTI | Quote | Chart | News | PowerRating) | 90 | 22 | 1,662M | 717M |
Â
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 |
Cephalon | ( CEPH | Quote | Chart | News | PowerRating) | 17 | 42.45 | 2,291M | 1,289M |
Techne Corp. | ( TECH | Quote | Chart | News | PowerRating) | 6 | 19.45 | 547K | 1,242M |
General Dynamics | ( GD | Quote | Chart | News | PowerRating) | 11 | 54.55 | 2,183M | 1,587M |
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.
class=890430920-15102001>
None Today.
Stocks in Slim
Jims Â
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>
None Today.
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 |
Intuit | ( INTU | Quote | Chart | News | PowerRating) | 8 | 38.42 | 4,863M | 3,063M |
State Street | ( STT | Quote | Chart | News | PowerRating) | 13 | 33.10 | 2,349M | 1,542M |
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 |
| Xilinx | ( XLNX | Quote | Chart | News | PowerRating) | 57 | 24.17 | SJ with session lows above daily price supports and 200-DEMA | 11,583M | 8,746M |
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
FavoritesÂ
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) | 91 | 24.05 | 10,673M | 24,876M |
Merck | ( MRK | Quote | Chart | News | PowerRating) | 67 | 57.20 | 5,658M | 5,4403M |
Merrill Lynch | ( MER | Quote | Chart | News | PowerRating) | 65 | 38.33 | 6,371M | 6,702M |
Â
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 |
Freddie Mac | ( FRE | Quote | Chart | News | PowerRating) | 34 | 55.39 | 3,753M | 2,969M |
Altria | ( MO | Quote | Chart | News | PowerRating) | 5 | 28.33 | 11,726M | 33,198M |
Â
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
class=890430920-15102001>
you’d like more information, click
here.