Here Are Wednesday’s Top Stocks

  • April 1, 2003
  • Chris Tyler

The ETFs posted gains
after four days of downward pressure. Volume
was moderate as the indices gapped higher off what could be best labeled a
technical rally off of price supports. The index proxies were able to maintain a
fairly decent posture in Tuesday’s trade, with all three closing on either side
of the plus 1% mark. Rumors and speculation continue to make their way into the
market, with today’s top trick being the disappearing act of Saddam Hussein. No
comment.

Today’s action has the
averages holding their 50% Fibonacci retracement levels that were tested during
yesterday’s session. Two of the three ETFs forged “inside days,” with
accumulation on the NYSE, but not the Naz. At the moment, it’s nice to see that
some price supports held, but with the mixed signals, the fact the QQQs are now
lagging, and the low readings in the VIX continue to persist, I personally heed
caution in assuming unhedged positions at this juncture.

The position environment may be a bit
of an enigma, but one “puzzle” that has a solution, is that of
successful daytrading. Using our list of High and Low RS stocks, and then
trading the setups off of our technical levels as they happen, is one the only
key that works consistently for solving that particular puzzle day after day,
week after week.

Hottest Sectors : Telecomm
(
TTH |
Quote |
Chart |
News |
PowerRating)
and Broker / Dealer
(
$XBD.X |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors : Health Medical
(
$HMO.X |
Quote |
Chart |
News |
PowerRating) and Internet
(
HHH |
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.




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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

UTStarcom

(
UTSI |
Quote |
Chart |
News |
PowerRating)
84
20.65
2,145m
1,943m

Barr Labs

(
BRL |
Quote |
Chart |
News |
PowerRating)
98
58.78
1,449M
1,145M

class=890430920-15102001>
Biovail
class=890430920-15102001>

(
BVF |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
95
class=890430920-15102001>
29.65
class=890430920-15102001>
1,206M
class=890430920-15102001>
1,194M

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j2 Global Communications
class=890430920-15102001>

(
JCOM |
Quote |
Chart |
News |
PowerRating)
class=890430920-15102001>
95
class=890430920-15102001>
29.65
class=890430920-15102001>
368K
class=890430920-15102001>
802K



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>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

Techne Corp.

(
TECH |
Quote |
Chart |
News |
PowerRating)
11
20.54
530K
488K

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.


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.




class=890430920-15102001>









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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

ADTRAN

(
ADTN |
Quote |
Chart |
News |
PowerRating)
85
36.95
861K
622K

Coach

(
COH |
Quote |
Chart |
News |
PowerRating)
83
37.81
1,086M
1,098M

Electronic Arts

(
ERTS |
Quote |
Chart |
News |
PowerRating)
81

58.85
3,625M
2,743M




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>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

Intuit

(
INTU |
Quote |
Chart |
News |
PowerRating)
8
37.02
4,785M
4,589M

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>










class=890430920-15102001>










size=2 Helvetica>Name

 class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength 		class=890430920-15102001> size=2 Helvetica>Price Pattern
Type		 class=890430920-15102001>Average
Volume 		class=890430920-15102001>Today’s
Volume
Hotels.com
(
ROOM |
Quote |
Chart |
News |
PowerRating)		 86 55.64 Double
Bottom Intraday		 1,223M 1,288M

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

Johnson &
Johnson

(
JNJ |
Quote |
Chart |
News |
PowerRating)
72
58.42
7,665M
7,054M

Teva
Pharmaceuticals

(
TEVA |
Quote |
Chart |
News |
PowerRating)
85
43.60
2,373M
3,284M

Linear
Technologies

(
LLTC |
Quote |
Chart |
News |
PowerRating)
78
31.38
6,730M
6,197M

Merrill Lynch

(
MER |
Quote |
Chart |
News |
PowerRating)
42
36.30
6,360M
5,750M

class=890430920-15102001>Institutional
Laggards.



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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)
7
28.10
9,726M
40,177M

Fifth Third
Bancorp

(
FITB |
Quote |
Chart |
News |
PowerRating)
20
49.91
2,690M
3,903M

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


class=890430920-15102001>
you’d like more information, click
here.