Stocks Worth Watching
Stocks are moving lower today after a new
economic report showed a decline in existing home sales, and investors braced
themselves for the coming earnings pre-announcement season.
In early afternoon trading, the Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating)
is down 84 to 10344. The blue chip indicator fell 52.17 on Friday. The Nasdaq
Composite Index
(
$COMPX |
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Chart |
News |
PowerRating) has lost 27.20 to 1824.20, after slipping 17.44
in the previous session. The
S&P 500
(
$SPX |
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Chart |
News |
PowerRating) started lower today and is currently at a three-week low.
Energy shares, including
Exxon Mobil
(
XOM |
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Chart |
News |
PowerRating) and Royal Dutch Petroleum
(
RD |
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Chart |
News |
PowerRating), declined with
the price of crude oil as the threat of military conflict in Iraq has receded.
Market internals are firmly in the bearish camp (decliners are leading advancers
by a 2:1 margin, while down-volume is outpacing up-volume by a 5:2 ratio).
The June contract for the Dow Jones Industrial
Average
(
DJM2 |
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News |
PowerRating), S&P 500
(
SPM2 |
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News |
PowerRating) and Nasdaq 100
(
NDM2 |
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PowerRating) have all
hit five-day lows.
The PHLX Semiconductor Sector
(
$SOX.X |
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Chart |
News |
PowerRating) is
-1.2%, AMEX Oil Index
(
$XOI.X |
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Chart |
News |
PowerRating) -0.2%, and the AMEX Biotech
Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) -2.5%.
One positive sector on the day is April gold
(
GCJ2 |
Quote |
Chart |
News |
PowerRating), which broke out above a descending triangle on Friday, 3/22/02. Its trading range has been between 300.00 to 200.00. As gold moves
up in price, it has a positive influence on the PHLX Gold & Silver Index
(
XAU.X |
Quote |
Chart |
News |
PowerRating).
Some other stocks it affects in the gold sector are Anglogold
(
AU |
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Chart |
News |
PowerRating),
Barrick Gold
(
ABX |
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PowerRating), and Newmont Mining
(
NEM |
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Chart |
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PowerRating), all of which are trading
positive in the first half of trading.
Rowan Companies
(
RDC |
Quote |
Chart |
News |
PowerRating)) is pulling back
from its high following a solid move to the upside. RDC is holding a
3-month relative strength rank of 86 and an uptrending
ADX of 32 from TradingMarkets.com.
Cooper Cameron
(
CAM |
Quote |
Chart |
News |
PowerRating)
is pulling back from its high. CAM tested its support at 49.40. CAM has a
TradingMarkets.com RS3 rating of 88 and an uptrending
ADX of 40.
Anglogold
(
AU |
Quote |
Chart |
News |
PowerRating)
has broken above its resistance level on increasing volume. AU has a
TradingMarkets.com RS3 rating of 97 and an uptrending
ADX
of 41. April gold (GCJ2)
has been positive most of the morning, which influences gold stocks like AU.
Ann Taylor Stores
(
ANN |
Quote |
Chart |
News |
PowerRating) is pulling back to
its 20-day moving average. ANN is carrying a
3-month relative strength rank of 82 from TradingMarkets.com.
Digene
(
DIGE |
Quote |
Chart |
News |
PowerRating) is pulling back from its
high. DIGE is holding a
3-month relative strength rank of 80 along with an uptrending
ADX of 38 from TradingMarkets.com.