Here Are Tuesday’s Top Stocks
After an initial
“shaking of the tree,” the ETFs reversed course in the first half hour
of trade and never looked back. Today’s
surge higher, coincidentally without the help of “Serge,” had the QQQs,
SPYs, and DIAs all closing the day with tremendous percentage gains, on lopsided
Institutional volume. The ducks were quacking, and were quite willing to reach
right into prior resistance levels today, before an anticipated Presidential
address this evening that has Saddam going to either a Club Med in Aruba or St.
Marteen. The uncertainty of this decision, only known by Messrs. Rourke & Tatoo,
did not diminish investors’ appetite for equities ahead of this Must See TV
event. Make sure to finish your green beer before 8 p.m. ET.
Today’s action has the ETFs closing at
prior resistance levels from earlier this year, and all but assuring that
someone is going to get hurt. Will it be the Frontline overseas or the Generals
on Wall Street? I don’t have the answers, and all I can say is that I wish
everyone the best of luck (here and abroad ) as we get set for something to
happen. One thing that I do continue to have the answer to, is that to stay
consistently profitable, the best way to start is with your list of High and Low
RS stocks to lead you into that day’s battle. Preparation for our daily battle
starts right here each and every night, that way regardless of what happens this
night, we’ll be ready for tomorrow.
Hottest Sectors : Internet
(
HHH |
Quote |
Chart |
News |
PowerRating)
and Broker / Dealers
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
and Utilities
(
UTH |
Quote |
Chart |
News |
PowerRating)
Tuesday’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 |
Zimmer Holdings | ( ZMH | Quote | Chart | News | PowerRating) | 88 | 48.97 | 1,186M | 1,951M |
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.
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 |
| OmniVision | ( OVTI | Quote | Chart | News | PowerRating) | 94 | 22.37 | 1,505M | 3,210M |
| CheckFree | ( CKFR | Quote | Chart | News | PowerRating) | 84 | 21.76 | 1,407M | 2,664M |
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>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 |
| Advance PCS | ( ADVP | Quote | Chart | News | PowerRating) | 88 | 29.70 | 1,450M | 2,372M |
| National Semiconductor | ( NSM | Quote | Chart | News | PowerRating) | 87 | 18.79 | 2,704M | 3,927M |
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 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>
None Today.
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
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 | 22.38 | 9,336M | 21,102M |
eBay | ( EBAY | Quote | Chart | News | PowerRating) | 91 | 87 | 6,135M | 10,049M |
Gilead Sciences | ( GILD | Quote | Chart | News | PowerRating) | 89 | 40.91 | 3,364M | 6,401M |
Linear Technologies | ( LLTC | Quote | Chart | News | PowerRating) | 85 | 34.40 | 6,457M | 10,005M |
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 |
Newmont | ( NEM | Quote | Chart | News | PowerRating) | 37 | 25.11 | 5,262M | 5,025M |
Biogen | ( BGEN | Quote | Chart | News | PowerRating) | 17 | 32.03 | 4,029M | 5,150M |
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.