Here Are Wednesday’s Top Stocks
Price action in the
ETFs on Tuesday was anything but exciting, but nonetheless score another one for
the bulls as all three finished higher. Each
of the index proxies finished with gains between one half and one percent.
Technically, it was a day marked by consolidation or digestion. Maybe we’ll
be calling it indigestion shortly. Tomorrow should provide market players with
the appropriate title as traders and the corresponding ETFs narrowed their
sights in Slim Jim type fashion for much of the session on relatively heavy
volume.
The ETFs are all positioned for…
perfection, a short, decisive victory, an earnings rebound? Heck, I’m
not quite sure. Do I have an opinion? Yes. Does it matter? Not really. What I
can say is this. The only way that I know to stay consistent and profitable,
especially with all of the “experts” out there, is to do what we do
each and everyday, and that’s to stay prepared with our list of High and Low RS
issues. Our hearts go out to those on the front line, but our own line of
defense for the battle we face each trading day starts right here, each and
every night.
Hottest Sectors : Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
and Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Regional Banks
(
RKH |
Quote |
Chart |
News |
PowerRating)
and Software
(
SWH |
Quote |
Chart |
News |
PowerRating)
Wednesday’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 |
CheckFree | ( CKFR | Quote | Chart | News | PowerRating) | 90 | 22.48 | 1,447M | 2,681M |
Semtech | ( SMTC | Quote | Chart | News | PowerRating) | 95 | 16.65 | 1,479M | 1,850M |
Garmin | ( GRMN | Quote | Chart | News | PowerRating) | 91 | 34.87 | 468K | 1,322M |
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.
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 |
Northrop Grumman | ( NOC | Quote | Chart | News | PowerRating) | 30 | 86.16 | 1,573M | 2,132M |
XL Capital | ( XL | Quote | Chart | News | PowerRating) | 24 | 69.19 | 918K | 756K |
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 |
| National Semiconductor | ( NSM | Quote | Chart | News | PowerRating) | 91 | 19.18 | 2,681M | 2,628M |
| Celgene | ( CELG | Quote | Chart | News | PowerRating) | 89 | 26.08 | 838K | 1,207M |
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>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 |
| Universal Health | ( UHS | Quote | Chart | News | PowerRating) | 31 | 38.46 | 1,185M | 920K |
| CACI International | ( CAI | Quote | Chart | News | PowerRating) | 21 | 30.16 | 402K | 653K |
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 |
| Guidant | ( GDT | Quote | Chart | News | PowerRating) | 82 | 35.95 | 2,976M | 2,057M |
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 |
| Omnicom | ( OMC | Quote | Chart | News | PowerRating) | 21 | 54.50 | 2,234M | 1,914M |
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 |
KLA Tencor | ( KLAC | Quote | Chart | News | PowerRating) | 63 | 38.09 | 12,654M | 13,181M |
eBay | ( EBAY | Quote | Chart | News | PowerRating) | 92 | 88.08 | 6,182M | 8,003M |
EchoStar | ( DISH | Quote | Chart | News | PowerRating) | 94 | 30.07 | 4,158M | 2,952M |
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 |
Altria | ( MO | Quote | Chart | News | PowerRating) | 23 | 32.61 | 8,525M | 35,608M |
Wyeth | ( WYE | Quote | Chart | News | PowerRating) | 61 | 36.25 | 5,469M | 6,219M |
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.