Seven Stocks Rising, Fueled By Unusually High Volume
This morning, the University of Michigan Sentiment numbers
came in lower at 86.5 vs. the 93.0
consensus, but the Retail Sales countered that bad piece of news with good news.
The June Retail Sales came in at 1.1% vs. the 0.5%. The markets fell initially,
but have since come back.
The Nasdaq continues to trade positively in the
first half of trading. The strength in the Nasdaq is partly because the revised
guidance issued from Dell Computer
(
DELL |
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a Buy recommendation and some positive comments from Lehman Brothers. Traders
are now looking at a possible 1-2-3 top in the Nasdaq, which could trigger a
decline into afternoon trading. The way things have been going, many
traders are hesitant about taking positions home over the weekend.
The S&P 500
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$SPX.X |
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a low point of 914.25 then rallied and at the midpoint was on the verge of
forming a Double Top. Market internals are positive.
Amex
Biotechnology Index
(
$BTK.X |
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once again today, rallying from a short-term bottom. Some of the stronger stocks
that are helping push the Biotech Sector are: Genetech
(
DNA |
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Cephalon
(
CEPH |
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(
IDPH |
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Design Labs
(
PDLI |
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Other sectors that are positive on the day are:
Semiconductors, Biotechs, Computer Hardware, Networking
and Oil Services.
Weak sectors today are: Gold, Retail,
Utilities and Banks
Several stocks that are trading positive today
and have unusually high volume for this time of the day are: Stericycle
(
SRCL |
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Cognizant Technology
(
CTSH |
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(
PLB |
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Tenet Healthcare
(
THC |
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PowerRating), Commerce Bancorp
(
CBH |
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PowerRating), Engineered
Support Systems
(
EASI |
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(
BWS |
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Some of the stocks that are falling today and
have very high volume for this time of the day are: Mentor Corp
(
MNTR |
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Veeco Instruments
(
VECO |
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(
ZLC |
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PowerRating), Biosite
(
BSTE |
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Home Depot
(
HD |
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PowerRating), Duke
(
DUK |
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NASDAQ Breadth: 2002-07-12 13:53:47
Adv: 1773 UpVol: 7714354
Dec: 1428 DnVol: 4331051
Net: +345 Net: +3383303
NYSE Breadth: 2002-07-12 13:53:47
Adv: 1574 UpVol: 57114900
Dec: 1536 DnVol: 45748837
Net: +38 Net: +11366063