Monday’s Top Stocks
Well, they couldn’t make it a ‘Triple
Lindy’…but I think that unlike Rodney
Dangerfield, the three amigos have definitely garnered most people’s respect.
With only two of the three ETFs notching fresh 52-Week Highs, before a little
‘investor pause’ (or is that supposed to be applause), the ‘triple’ wasn’t
achieved in Friday’s trade. Nonetheless, it was a Quadruple. Investors had
to toil with that big, bad ol’ Quadruple Witching Expiration, so anyone trying
to guess the billion dollar question, ‘witch’ way will it go, received their
answer by the closing bell. Our beloved index proxies finished off the week
down between .50% to .88% on above-average volume, but less than yesterday’s
figures, with a very slight advantage to the group in favor of profit-taking…’yahoo
for the week.’
‘Looking good Billy Ray.’ ‘Feeling good Louis.’ With the movie theme going,
and the fact that the ETFs have been ‘moooving picture perfect’, let ’em have
a breather. ‘Oh, behaave’, is absolutely right Mr. Powers. It’s only natural,
and very constructive to see the ebbs within the flows of a healthy, ‘confirmed
rally.’ Today’s action, or inaction, depending on who you spoke to, was a testament
to that fact. As investors we can only wait and see what tomorrow will bring.
As daytraders adhering to our consistent, disciplined plan of attack, we already
know what’s in store for us come Monday.
Thank god it’s Friday. Two whole days to sit back and enjoy the trappings
of our hard-earned efforts from consistent, disciplined daytrading. Remember
to take a break from the ‘easy chair’ at some point, and get your list of top
stocks ready for Monday’s trade. That way, when you return to your trading
desk for the next session of battle, you’ll find your seat has miraculously
turned into its very own kind of ‘easy chair.’ Have a great weekend.
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VIX ( $VIX | Quote | Chart | News | PowerRating) |
19.07 | down .23 | CVR 5 Sell | 4% below | Not At Extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
29.74 | down .01 | none | 6% below | Not At Extreme |
Hottest Sectors : Gold/Silver (XAU) and Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Telecomm
(
TTH |
Quote |
Chart |
News |
PowerRating) and Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating)
Monday’s stocks to watch:
Technical Strength Top of Range.
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 |
| Stratasys | ( SSYS | Quote | Chart | News | PowerRating) |
49.83 | 52-Week highs on consolidation b/o with strong confirming volume to close in a top of range consolidation |
445 | 1,121 |
| ADTRAN | ( ADTN | Quote | Chart | News | PowerRating) |
67.99 | 30-Minute extended chart Cup & Handle triggering by approx. .50%, near daily triangle b/o levels |
497 | 474 |
| Exult | ( EXLT | Quote | Chart | News | PowerRating) |
9.45 | B/O of daily channel resistance on strong volume, with 20/50-Day EMA ‘crossover’ imminent |
619 | 1,498 |
| aQuantive | ( AQNT | Quote | Chart | News | PowerRating) |
9.98 | Top of range consolidation close, on wide range bar w/ confirming volume, thru EMA resistance, within larger established daily pattern |
768 | 1,425 |
Technical Weakness Bottom of Range.
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 |
| NVE Corp. | ( NVEC | Quote | Chart | News | PowerRating) |
40.20 | Bottom of range close within 30-min extended triangle pattern, and confirmed 1,2,3 daily top (volatile issue) |
378 | 614 |
| Kohls | ( KSS | Quote | Chart | News | PowerRating) |
57.48 | Bottom of range close thru price and EMA supports confirmed by above-average volume |
3,582 | 7,350 |
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 |
| Biosite | ( BSTE | Quote | Chart | News | PowerRating) |
42 | Intraday double bottom against 200-Day EMA support, on heavy, ‘exhaustion’ type volume, forming potential daily 123 long setup |
497 | 1,915 |
| Gilead | ( GILD | Quote | Chart | News | PowerRating) |
59.96 | Bottom of range consolidation on engulfing bar daily chart, and heavy volume to fill bullish price gap |
3,785 | 5,560 |
Short Reversals Closing Basis.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| Â | Â | Â | Â | Â | Â |
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 |
| Microsoft | ( MSFT | Quote | Chart | News | PowerRating) |
29.96 | 54,714 | 91,093 |
| Genentech | ( DNA | Quote | Chart | News | PowerRating) |
87.72 | 2,735 | 2,573 |
| Novellus | ( NVLS | Quote | Chart | News | PowerRating) |
38.71 | 7,709 | 6,846 |
Institutional Laggards.
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Verizon | ( VZ | Quote | Chart | News | PowerRating) |
35.25 | 6,983 | 8,158 |
| United Technologies | ( UTX | Quote | Chart | News | PowerRating) |
79.15 | 2,019 | 2,292 |
| Eli Lilly | ( LLY | Quote | Chart | News | PowerRating) |
60.21 | 3,624 | 6,145 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler