Here Are Tuesday’s Top Stocks

  • April 14, 2003
  • Chris Tyler

On Monday, investors were “banking
on it,” after some high-profile

financial stocks such as Citigroup
(
C |
Quote |
Chart |
News |
PowerRating), Bank of
America
(
BAC |
Quote |
Chart |
News |
PowerRating), and Fannie Mae
(
FNM |
Quote |
Chart |
News |
PowerRating) reported better-than-expected results.
The bottom line: By the closing bell,
all of the ETFs finished at their best levels of the day, up 2% following the
financial sector’s charge higher. Volume was tepid as it once again closed well
below average, but the trading that did take place, showed advancers clearly in
favor by those who did participate.

Today just goes to show why price action comes
first. Volatility levels are continuing south, and although there continues to
be plenty of resistance overhead, there were some long trade opportunities out
of of pattern setups today. Turn off the “talking heads” and your
ego, and then, listen and wait for the market to point you in the right
direction. This morning it was higher, after consolidation entries, or Opening
Reversals, out of a small positive gap opening in the ETFs. Who knew? Judging by
Friday’s action, the downside looked like the more likely bedfellow, but today
the market told those who were willing to listen, early on, a different story.

Preparing your nightly list of High and Low
RS issues is the first step in learning to listen to the market. Learn to

turn off the “boob” tube and when the setups occur in the
products you watch trigger, take ’em as you see ’em, and then let Bob P. and
company tell you all about “your” trade later that day.

Hottest Sectors : Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)
and Broker / Dealers
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors : Internet
(
HHH |
Quote |
Chart |
News |
PowerRating)
and Oil Services
(
OIH |
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>









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

Fedex

(
FDX |
Quote |
Chart |
News |
PowerRating)
57
58.26
1,652M
1,710M

Sepracor

(
SEPR |
Quote |
Chart |
News |
PowerRating)
88
16.40
1,067M
1,375M

class=890430920-15102001>
Celgene
class=890430920-15102001>

(
CELG |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
65
class=890430920-15102001>
25.55
class=890430920-15102001>
1,060M
class=890430920-15102001>
1,425M

class=890430920-15102001>
Fedex and Celgene
both look stronger than their 3 month RS suggests, and their inclusion on
our list.




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>

None Today.


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>









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

Panera Breads

(
PNRA |
Quote |
Chart |
News |
PowerRating)
39
32.12
888K
443K


class=890430920-15102001>
Panera Breads is
what I would term “deceptively strong,” as the 3 Month doesn’t
reflect a potential breakout candidate. PNRA is technically qualified as a
potential Low ADX triangle candidate breakout, now testing pattern highs


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>









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

Baker Hughes

(
BHI |
Quote |
Chart |
News |
PowerRating)
39
29.13
2,257M
2,637M

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.




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

Biovail


(
BVF |
Quote |
Chart |
News |
PowerRating)
90
41.69
1,287M
873K

Yahoo

(
YHOO |
Quote |
Chart |
News |
PowerRating)
87
24.35
12,229M
15,149M





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>









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

Anglogold


(
AU |
Quote |
Chart |
News |
PowerRating)
17
28.01
1,097M
307K

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>



















size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

class=890430920-15102001>
Genzyme
class=890430920-15102001>

(
GENZ |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
78
class=890430920-15102001>
35.27
class=890430920-15102001>
2-Day(15min.)extended Cup & Handle off
50-DEMA support
class=890430920-15102001>
3,274M
class=890430920-15102001>
2,088M

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>





















size=2 Helvetica face=”Arial”>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica face=”Arial”>Price Long/short Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume

class=890430920-15102001>
Qualcomm
class=890430920-15102001>

(
QCOM |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
12
class=890430920-15102001>
33.06
class=890430920-15102001>
LONG BIAS
class=890430920-15102001>
WideRangeBar closing well on 3 day volume
class=890430920-15102001>
15,272M
class=890430920-15102001>
13,547M


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)
46
39.80
6,271M
4,563M

Adobe

(
ADBE |
Quote |
Chart |
News |
PowerRating)
73
33.50
3,784M
3,033M

Bed Bath & Beyond

(
BBBY |
Quote |
Chart |
News |
PowerRating)
67
38.55
3,449M
3,815M

Lowes

(
LOW |
Quote |
Chart |
News |
PowerRating)
82
44.44
4,873M
3,440M

Institutional
Laggards.



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

IDEC Pharmaceuticals

(
IDPH |
Quote |
Chart |
News |
PowerRating)
35
31.37
3,799M
2,390M

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 Intraday Breakouts. If
you’d like more information, click
here.