Tuesday’s Top Stocks
Hmm? When it rains, it pours. The ETFs were seen visibly ‘hacking’ in Monday’s session as valuation concerns, losses on the European bourses, and corporate malfeasance were all cited as reasons for today’s ‘cough, cough’, pullback. In other news, Philip Morris, ‘cough, cough’, I mean Altria
(
MO |
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(
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(
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(
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I know, I know, what we really have is four out of five sessions, not five for five, in which ‘profit-taking’ has been visible off of our recently established highs. All I really see though, is yet another harsh reality for those willing to listen to everything but the market. Five days with lower highs, and now all the excuses are starting to weigh on investors’ newly market-weighted portfolios. I’d personally like to see the Spyders test the 96.50 area before anticipating a decent reversal from a position standpoint. But, since I don’t listen to the talking heads on TV, I’ll have to be content with using only price, pattern,and volume, and ‘hope’ for the best…Ha!!! In the meanwhile, we can always ‘fall back on’, our usual M.O. (and I don’t mean Philip Morris) of daytrading stocks.
By sticking to our list of High and Low RS stocks and waiting for proper continuation and reversal patterns, we can continue to prosper. Regardless of what your neighbor’s broker is telling you, we’ll stay on top because we’re listening to ‘the brokers’, and the rest of the sectors by way of our 5-Minute charts one trade at a time, and not some firm’s latest ‘smoking gun’ or ‘dirty little lie.’
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VIX ( $VIX.X | Quote | Chart | News | PowerRating) |
22.66 | up 1.57 | CVR 2 Sell | 1% above | Not At Extreme |
| VXN ( $VXN.X | Quote | Chart | News | PowerRating) |
31.80 | down .54 | None | 7% below | Not At Extreme |
Hottest Sectors :Â Homebuilders
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$HGX.X |
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PowerRating)
Weakest Sectors : Biotechs
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Semiconductors
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Tuesday’s HELVETICA>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 | Today’s Volume |
| AAI Pharmaceuticals | ( AAII | Quote | Chart | News | PowerRating) |
17.86 | Pullback consolidation off intraday highs on 52-week b/o from trading range on substantial volume |
618k | 1,816m |
| University of Phoenix |
( UOPX | Quote | Chart | News | PowerRating) |
49.29 | Top of range consolidation on daily reversal bar off technical 50-Day EMA support, with confirming volume |
242k | 821k |
| Echelon | ( ELON | Quote | Chart | News | PowerRating) |
14.35 | 1-Month closing high, breakout above pattern pivots on volume, to close in consolidation pattern from session highs |
193k | 516k |
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 | Today’s Volume |
| Microstrategy | ( MSTR | Quote | Chart | News | PowerRating) |
34.98 | continuation day lower off technical breakdown below initial daily supports with volume confirmation |
619k | 859k |
| Cigna | ( CI | Quote | Chart | News | PowerRating) |
47.41 | Low RS stock finishing at bottom of intraday trading range |
1,359m | 726k |
| Universal Health | ( UHS | Quote | Chart | News | PowerRating) |
39.93 | bottom of range consolidation at daily price supports, on volume and below 50 and 200-Day EMAs |
785k | 1,250m |
class=890430920-15102001>
class=890430920-15102001>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.
class=890430920-15102001>Long Reversals class=890430920-15102001>Closing Basis.
| Name | Symbol | Price | Technical Strength | Average Volume | Today’s Volume |
| Gtech Holdings | ( GTK | Quote | Chart | News | PowerRating) |
37.37 | Test of prior 52-week highs in a spinning top reversal bar. Intraday triangle pattern close |
657k | 405k |
class=890430920-15102001>
Short
Reversals
Closing Basis.
None Today.
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 | Today’s Volume |
| eBay | ( EBAY | Quote | Chart | News | PowerRating) |
102.30 | 6,875m | 5,458m |
| Microchip Technologies | ( MCHP | Quote | Chart | News | PowerRating) |
23.66 | 4,308m | 4,632m |
| Echostar | ( DISH | Quote | Chart | News | PowerRating) |
35.60 | 3,773m | 2,633m |
| Lennar | ( LEN | Quote | Chart | News | PowerRating) |
74.50 | 1,644m | 1,812m |
Institutional
Laggards.
| Name | Symbol | Price | Average Volume | Today’s Volume |
| Biotech Holders | ( BBH | Quote | Chart | News | PowerRating) |
122.05 | 1,264m | 2,872m |
| Tenant Health | ( THC | Quote | Chart | News | PowerRating) |
12.01 | 4,702m | 36,133m |
| Morgan Stanley | ( MWD | Quote | Chart | News | PowerRating) |
42.81 | 5,677m | 5,872m |
Best of luck to everyone. Please use
protective stops on class=890430920-15102001> all trades.
Chris Tyler