Here Are Thursday’s Top Stocks

  • April 30, 2003
  • Chris Tyler

Investors…are you ready? Well
if you believe in the ever prescient ‘smart money’ edge, then today’s low
volatility inside day, coupled with yesterday’s consolidation type action is
perfect action for nipping and tucking the portfolio before tomorrow’s much-anticipated ISM report. Today’s trade also witnessed a solid increase in volume,
as the ETFs all closed down on the session. The SPYs and DIAs were ever so
slightly underwater, while the QQQs, being weighed down by the semiconductor
sector
(
SMH |
Quote |
Chart |
News |
PowerRating), closed off about a percentage point. Interestingly enough, in
the churn, advancing issues held the edge over decliners in Wednesday’s trade.

Status quo, as far as my thoughts on the market.
The VIX is still consolidating, which for those in the bullish camp, an argument
could be made that there has been some hedging of the ‘unbridled enthusiasm’
apparent in the marketplace, as of late. Hmm??? This, as all contrarians know,
is a good thing. Volume days have also been signaling accumulation on a whole,
another positive sign. For the bears, well let’s just say that it’s been their
market for quite some time now, and there continues to be overhead resistance
for which to make their case…growl. 

As I said yesterday, I’m willing to sit on my
hands until Mr. Market decides the path of least resistance. Until then, we
always have our daily setups comprised of our High and Low RS issues that
present
‘gifts’ to us, each and everyday. 

Hottest Sectors : 
Health Medical
(
$HMO.X |
Quote |
Chart |
News |
PowerRating) and Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors :  Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating) 
and Retail
(
RTH |
Quote |
Chart |
News |
PowerRating) 


Thursday’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 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

United Online 

(
UNTD |
Quote |
Chart |
News |
PowerRating)
88
22.36
1,378M
4,155M

Sandisk

(
SNDK |
Quote |
Chart |
News |
PowerRating)
94
24.19
3,148M
3,141M

class=890430920-15102001>
NetScreen Technology
class=890430920-15102001>

(
NSCN |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
66
class=890430920-15102001>
20.28
class=890430920-15102001>
1,836M
class=890430920-15102001>
1,775M

class=890430920-15102001>
Cognos
class=890430920-15102001>

(
COGN |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
65
class=890430920-15102001>
27.14
class=890430920-15102001>
1,087M
class=890430920-15102001>
810K

class=890430920-15102001>
Lexmark
class=890430920-15102001>

(
LXK |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
70
class=890430920-15102001>
74.51
class=890430920-15102001>
1,627M
class=890430920-15102001>
4,350M

 




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.

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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

Northrop Grumman 

(
NOC |
Quote |
Chart |
News |
PowerRating)
46
87.95
1,734M
1,048M

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.




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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

Lockheed Martin 

(
LMT |
Quote |
Chart |
News |
PowerRating)
43
49.99
3,483M
2,470M

Dreyer’s

(
DRYR |
Quote |
Chart |
News |
PowerRating)
15
63.88
1,587M
322K


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

Capital One 

(
COF |
Quote |
Chart |
News |
PowerRating)
87
41.77
3,924M
7,466M

Panera Breads

(
PNRA |
Quote |
Chart |
News |
PowerRating)
66
34.01
731K
469K





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>









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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

CDW Computers 
[CDWC|CDWC}
4
42.64
2,176M
2,649M

Reebok

(
RBK |
Quote |
Chart |
News |
PowerRating)
35
31.07
767K
994K

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.




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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 Direction Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Nextel
(
NXTL |
Quote |
Chart |
News |
PowerRating)		 88 14.77 LONG Daily
price support of 5-Month SJ b/o		 25,091M 39,040M

class=890430920-15102001>
Lowes
class=890430920-15102001>

(
LOW |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
76
class=890430920-15102001>
43.89
class=890430920-15102001>
SHORT
class=890430920-15102001>
Low level SJ intraday, with daily trendline break on volume
class=890430920-15102001>
4,996M
class=890430920-15102001>
6,957M

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
HCA
Inc.
(
HCA |
Quote |
Chart |
News |
PowerRating)		 5 32.10 SHORT Session
long SJ with daily test of resistance		 5,284M 4,821M


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)
63
41.05
6,069M
7,977M

Wachovia

(
WB |
Quote |
Chart |
News |
PowerRating)
55
38.21
3,147M
3,830M

Echostar

(
DISH |
Quote |
Chart |
News |
PowerRating)
72
29.95
3,537M
2,755M

Institutional
Laggards.



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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

Peoplesoft

(
PSFT |
Quote |
Chart |
News |
PowerRating)
13
15.07
9,172M
7,553M

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.