Tuesday’s Top Stocks
I know why I had to stick it out on the lightest volume day of the year, but
this cautious bull certainly can’t speak for anyone else. Besides volume, or
lack thereof– adding to the pre-holiday festivities was the fact that both
the S&P500 and Nasdaq Composite closed, very much around the zippo,
nada, unched mark. No ‘yahoo’ or soda ‘pop’ today–as Hansen finished slightly
lower after a favorable ruling and the broader market as stated, was completely
flat and without any fizz of its own. Oh well, I guess there’s always a chance
for both those things this weekend.
Nothing has changed here, except that today shouldn’t even count as far as
this cautious bull is concerned. Don’t get me wrong, some stocks were zigging
and zagging and making moves. Realistically though, after maybe a morning move
into the plus column, the opportunities were very much limited in scope, as the
price continuity was anything but high-probability stuff. There have been times
when the pre-holiday trade does actually offer a surprise treat, but today
didn’t happen to be one of those special days. With the Boys Of Summer having
already taken off their Wall Street shark suits, in favor of their Speedos,
sunglasses and sandals, I personally don’t expect to see much from days like today. However, I’ll gladly watch it in favor of some other things that are even more
unsightly in this guy’s opinion. Come Tuesday we can get back to some of our disciplined, consistent daytrading tactics. Who knows, maybe we’ll enjoy some soda ‘pop’ in that
session, or come to enjoy our old friend HANS ‘Soldo’, as investors try another
flavor of the week.
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VXO ( $VXO | Quote | Chart | News | PowerRating) |
15.82 | up .29 | cvr 2, 3, 6 sell | 12% below | at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
21.33 | down .17 | cvn 3, 6 sell | 16% below | at extreme |
Hottest Sectors : Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Gold & Silver (XAU)
Tuesday’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 |
| Digital River | ( DRIV | Quote | Chart | News | PowerRating) |
31.46 | third day consolidation action off price supports | 803 | 841 |
| Nanometrics | ( NANO | Quote | Chart | News | PowerRating) |
12.88 | Top of range consolidation on daily b/o of congestion pattern on increased, above-average trade |
440 | 795 |
| EFJ Inc | ( EFJI | Quote | Chart | News | PowerRating) |
8.32 | 6-Week pattern b/o attempt on increased, above-average trade |
254 | 900 |
^next^
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 |
| WCI | ( WCI | Quote | Chart | News | PowerRating) |
22.25 | inside gravestone bar below technical resistance | 367 | 248 |
| Newmont Mining | ( NEM | Quote | Chart | News | PowerRating) |
39.71 | Bottom of range consolidation, daily reversal bar out of countertrend rally from lows |
5,644 | 4,120 |
| J.B.Hunt Transport | ( JBHT | Quote | Chart | News | PowerRating) |
32.74 | Continuation bar of double top reversal pattern | 728 | 464 |
Institutional Longs and Institutional Shorts.
The following stocks are selected from the Nasdaq, S&P 500 & 600 Indices,
and HOLDRs, and are based on a combination of daily and intraday analysis.
Institutional Longs
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Teva Pharma | ( TEVA | Quote | Chart | News | PowerRating) |
66.28 | 2,657 | 1,381 |
| NVIDIA | ( NVDA | Quote | Chart | News | PowerRating) |
23.49 | 4,637 | 5,316 |
| Microchip | ( MCHP | Quote | Chart | News | PowerRating) |
31.65 | 3,012 | 2,327 |
Institutional Shorts
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Ask Jeeves | ( ASKJ | Quote | Chart | News | PowerRating) |
40.40 | 4,137 | 2,705 |
| Halliburton | ( HAL | Quote | Chart | News | PowerRating) |
29.04 | 4,061 | 4,500 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler