Monday’s Top Stocks
It actually felt a lot like a nothing kind of day, but if you’re involved
with Microsoft (MSFT)–that certainly wasn’t the case. With Mr. Softy’s volume
accounting for approximately 10% of a very heavy, increased volume day in
the Nasdaq (strongest in about three months), it was probably something else in
fact, especially if your last name is Gates. Today’s price extension of .83%
capped off a week of gains, after some pretty heady volatility, to the tune of
2.71% in the Nasdaq. All I can say is this cautious bull’s hat goes off to all
those smart money folks who truly put on one heck of a show with this week’s
episode of the greatest game on Earth.
It’s always amazing how quickly oversold and feeling like a yahoo, can
quickly become overbought and feeling like saying, ‘yahoo!’ If the move is truly
for real, and I’m personally still sidelined on that one, growth stocks will
once again take over the reigns as they carve out weekly consolidations worthy
of consideration. While some have definitely recouped lost ground during the
past two or three days, I’m personally thinking time is still on our side. Throw
in the lower highs on the daily charts that are still set in place in all three
major indices, growth stocks, as mentioned, that don’t look to be in any
particular hurry, low volatility readings, and a nice percentage move already in
place–and there probably just isn’t enough juice to pull it off in a straight
line…that is, if it can be done at all. Until then, and always–we can just
continue to stick it out with our disciplined, consistent brand of daytrading.
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VXO ( $VXO | Quote | Chart | News | PowerRating) |
13.96 | down .65 | na | 12% below | at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
20.79 | down .56 | na | 6% below | not at extreme |
Hottest Sectors : Software
(
SWH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Internet
(
HHH |
Quote |
Chart |
News |
PowerRating)
Monday’s stocks to watch:
Technical Strength.
Stocks are scanned from TM’s Proprietary and Technology 10 Momentum lists on
the Indicators page, as well as being hand selected, based on the most recent
technical action. This may include some or all of the following: abnormal
volume, price patterns, as well as bullish action off of technical price
supports or clearance of technical resistance in that day’s session.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| Integra Lifesciences | ( IART | Quote | Chart | News | PowerRating) |
32.71 | increased, above average follow-thru day within weekly triangle base |
138 | 238 |
| SFBC Intl. | ( SFCC | Quote | Chart | News | PowerRating) |
31.90 | increased, above average trade testing 3.5 month lateral base pivots |
80 | 138 |
| VASCO Data Security | ( VDSI | Quote | Chart | News | PowerRating) |
3.00 | high volume b/o attempt of daily and weekly chart bases | 154 | 3,794 |
Technical Weakness.
Stocks are scanned from TM’s Implosion and Technology Implosion Lists on the
Indicators page, as well as being hand selected, based on the most recent
technical action. This may include some or all of the following: abnormal
volume, price patterns, as well as bearish technical action at key support,
or resistance levels based on closing prices.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| NA | NA | NA | NA | NA | NA |
Stock Reversal Setups Closing Basis.
Stocks that are setting up on a closing basis as potential long or short 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 basing patterns (Slim Jims, 1,2,3s,
Double bottoms) consolidations, and triangle reversals. Background technical
supports in the form of Fibonacci levels, EMAs (DEMA=daily ema), RS, and former
price action are used in the decision making process.
Long Reversals Closing Basis.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| NA | NA | NA | NA | NA | NA |
Short Reversals Closing Basis.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| NA | NA | NA | NA | NA | NA |
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, patterns (consolidations or Slim Jims) , or
last hour volume surges, indicative of follow through in the very near term.
Institutional Favorites
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Adobe | ( ADBE | Quote | Chart | News | PowerRating) |
43.71 | 3,437 | 3,304 |
Institutional Laggards.
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Caterpillar | ( CAT | Quote | Chart | News | PowerRating) |
61.96 | 2,547 | 3,505 |
| Broadcom | ( BRCM | Quote | Chart | News | PowerRating) |
42.21 | 9,271 | 18,852 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler