Monday’s Top Stocks
It was almost like a Tale Of Two Cities, except for the fact that nobody was
home in either one. For the session, divergence reigned supreme as the S&P500
managed a .02%, very flat finish–while the Nasdaq saw some of its participants
leave town for the session, as our technology and growth-heavy friend finished
lower by .95%. What both indices had in common is the fact that investors were
absolutely nowhere to be found, as ultra-light volume was the one ‘fugly’
element that bonded the two distinct lands of trade. Hmm?? That raises an
interesting question to one of Wall Street’s numerous contradictions, ‘is this a
market falling on its own weight, or just one of those light volume pullbacks
off technical lows that’s suppose to be healthy?’
My vote at this juncture, and I’m a cautious bull mind you, unfortunately goes
with the former Wall Street adage that a market can fall on its own weight.
Three days ago, I had the sleeves rolled up, ready to play the reversal longs
off technical supports–and we did, very successfully in our members chat. But,
I have to be honest when I say that I don’t like what I’m seeing these last
two days in the tea leaves, as well as some of the proclamations that have been
made by other unnamed publications about our recent technical low. You see,
when I start hearing about how something is the greatest thing since sliced
bread–I naturally become defensive. In this case, I read at least one comment
that stated that the lows put in were the best in twenty years. All that I can
say to that is, ‘uh-oh’, and come back fresh to play it with my own brand of
100% conviction–namely disciplined, consistent daytrading tactics.
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VXO ( $VXO | Quote | Chart | News | PowerRating) |
19.13 | down .26 | na | 5% above | not at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
27.48 | down .63 | cvn 2, 6 buy | 4% above | not at extreme |
Hottest Sectors : Gold/Silver (XAU)
Weakest Sectors : Semiconductor
(
SMH |
Quote |
Chart |
News |
PowerRating)
Monday’s stocks to watch:
Longs.
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 Assesment | Average Volume 000’s | Today’s Volume |
| American Power Conversion | ( APCC | Quote | Chart | News | PowerRating) |
16.86 | Increased volume reversal bar out of daily downtrend | 1,718 | 2,846 |
| F5 Networks | ( FFIV | Quote | Chart | News | PowerRating) |
26.95 | inside day w/ macd c/o within two week consolidation | 1,412 | 714 |
Shorts.
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 Assesment | Average Volume 000’s | Today’s Volume |
| Scientific Games | ( SGMS | Quote | Chart | News | PowerRating) |
18.91 | Bottom of range close out of daily gravestone doji reversal bar |
797 | 477 |
| Tractor Supply | ( TSCO | Quote | Chart | News | PowerRating) |
35.80 | Inside day w/in 4 day pullback from lows | 347 | 288 |
| Countrywide Financial | ( CFC | Quote | Chart | News | PowerRating) |
59.96 | Top of range close on daily pullback from lows into technical resistance |
1,999 | 2,439 |
^next^
Institutional Longs and Institutional Shorts.
The following stocks are selected from the Nasdaq, S&P 500 & 600 Indices,
and HOLDRs.
Institutional Longs
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Teva Pharmaceuticals | ( TEVA | Quote | Chart | News | PowerRating) |
65.20 | 2,740 | 3,272 |
Institutional Shorts
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Juniper Networks | ( JNPR | Quote | Chart | News | PowerRating) |
20.92 | 13,295 | 17,997 |
| Caterpillar | ( CAT | Quote | Chart | News | PowerRating) |
75.69 | 2,445 | 2,414 |
| Merrill Lynch | ( MER | Quote | Chart | News | PowerRating) |
55.73 | 5,045 | 5,333 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler