Here Are Tuesday’s Top Stocks

  • May 5, 2003
  • Chris Tyler

On a positive note, in Monday’s trade the bulls had the opportunity to notch
fresh relative highs on positive market breadth.

The other side of coin, which seems to be
carrying some extra weight going into tomorrow morning’s trade, is that all of
the ETFs ended the day with slight losses. Over on the NASDAQ, this occurred on
heavier trade, translating into some profit taking on some of our recent
favorites, while some other groups such as the semis, ended in the green, but
well off their best levels of the day.

With today’s trade two of our ETFs, the SPYs and
QQQs, tested significant resistance in the form of prior highs. For the QQQs,
session highs came in within .10 of the early December pivot, while the SPYs
reversed off of the January 03′ highs. So, while the ‘white stick’ looked to be
raised in the early going, by the afternoon it was clearly time to take a seat
as the music had stopped, at least temporarily. Resistance levels are in place,
and now as long as the immediate trend remains intact, traders can look to
possibly establish longs out of pullbacks. More aggressive traders may also
consider shorts on those issues that have tested significant resistance, and
provide one with suitable risk to reward measures.

For the rest of us daytraders out there, we’ll
continue to trade the intraday swings with the best issues of the day. Keeping
our list of High and Low RS issues, we’ll be ready to trade from either side,
using the best ‘acting’ stocks for whatever show Wall Street decides to put on
in tomorrow’s session.

Hottest Sectors :  Health Medical
(
$HMO.X |
Quote |
Chart |
News |
PowerRating)  and
Broker / Dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors :  Telecomm
(
TTH |
Quote |
Chart |
News |
PowerRating) and
Regional Banks
(
RKH |
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.




class=890430920-15102001>









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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

OmniVision 

(
OVTI |
Quote |
Chart |
News |
PowerRating)
95
28.31
1,517M
1,686M

Artisan Components

(
ARTI |
Quote |
Chart |
News |
PowerRating)
82
21.19
240K
658K

class=890430920-15102001>
Interdigital
Communications
class=890430920-15102001>

(
IDCC |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
94
class=890430920-15102001>
23.59
class=890430920-15102001>
1,119M
class=890430920-15102001>
907K

 




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

H & R Block 

(
HRB |
Quote |
Chart |
News |
PowerRating)
16
37.95
1,712M
1,913M

Cephalon

(
CEPH |
Quote |
Chart |
News |
PowerRating)
25
42.09
1,882M
1,895M

 


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

Netease 

(
NTES |
Quote |
Chart |
News |
PowerRating)
95
26.67
1,332M
2,633M

F5 Networks

(
FFIV |
Quote |
Chart |
News |
PowerRating)
77
15.22
553K
865K

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.




















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

Met Life 

(
MET |
Quote |
Chart |
News |
PowerRating)
35
28.16
1,806M
2,776M


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

Cognos 

(
COGN |
Quote |
Chart |
News |
PowerRating)
72
28
1,090M
1,249M

Silicon Laboratories

(
SLAB |
Quote |
Chart |
News |
PowerRating)
80
31.32
1,130M
1,521M





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>









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

Kohl’s  

(
KSS |
Quote |
Chart |
News |
PowerRating)
21
54.32
4,112M
4,916M

Northrop Grumman

(
NOC |
Quote |
Chart |
News |
PowerRating)
33
88.44
1,714M
1,368M

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.


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 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.



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 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

Amazon

(
AMZN |
Quote |
Chart |
News |
PowerRating)
83
29.96
8,811M
11,149M

Schlumberger

(
SLB |
Quote |
Chart |
News |
PowerRating)
68
43.66
3,434M
2,835M

Mercury Interactive

(
MERQ |
Quote |
Chart |
News |
PowerRating)
45
35.19
5,151M
4,273M

National Semiconductor

(
NSM |
Quote |
Chart |
News |
PowerRating)
89
20.45
2,774M
4,524M

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

Boeing

(
BA |
Quote |
Chart |
News |
PowerRating)
13
27.62
4,741M
7,039M

3M Company

(
MMM |
Quote |
Chart |
News |
PowerRating)
17
124.81
2,777M
1,929M

 

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.