Tuesday’s Top Stocks
From Lucky Seven to the Great Eight–who would have thunk it? Not this cautious
bull, as the price extension continued to tack on gains out of Friday’s FTD
in the Naz. With the two major averages up between .74% to 1.06%, price says
‘yahoo’, but with lighter, below-average trade–it might be prudent to remember
that money management works both ways. If you happen to have some gains going
on in the portfolio, remember the old adage to sell when you can, not when you
have to–otherwise you might find yourself saying, ‘Oh No Mr. Bill’ instead.
The market is an incredible mechanism–how stocks that investors wouldn’t touch
with the proverbial 10 ft. pole are now anxiously being scooped up as the market’s
duck-like participants are quacking in a mad frenzy to get a piece of the action.
Don’t get me wrong, this cautious bull likes the action, and with the Intermediate-Term
growth stocks that I follow, leading the move up–I don’t mind buying it as
long as it continues to work. I just don’t want to test the water with both
feet and be the last one standing in today’s play pen as all the ducks eventually
fly south once again. Of course, the one thing that I do consistently ‘buy’,
regardless of bull, bear, or duck, is sticking to the same ol’ disciplined daytrading
tactics, and that deserves a great big ‘yahoo.’
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VXO ( $VXO | Quote | Chart | News | PowerRating) |
13.88 | down 1.68 | cvr 3, 6 sell | 18% below | at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
21.02 | down .33 | cvn 3, 6 sell | 12% below | at extreme |
Hottest Sectors : Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
Tuesday’s stocks to watch:
Technical Strength.
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 |
| Harris & Harris | ( TINY | Quote | Chart | News | PowerRating) |
22.40 | Top of range consolidation on increased, above-average volume b/o of weekly base |
704 | 1,914 |
| Euronet | ( EEFT | Quote | Chart | News | PowerRating) |
19.78 | Top of range close on above-average inside day within daily cup pattern |
168 | 314 |
Technical Weakness.
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 |
| Halliburton | ( HAL | Quote | Chart | News | PowerRating) |
29.38 | Bottom of range consolidation on increased, above-average volume, finishing below 50-Day MA |
4,509 | 4,834 |
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 |
| NA | NA | NA | NA | NA | NA |
Short Reversals Closing Basis.
| Name | Symbol | Price | Technical Strength | Average Volume 000’s | Today’s Volume |
| NA | NA | NA | NA | NA | NA |
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 |
| Verizon | ( VZ | Quote | Chart | News | PowerRating) |
37.65 | 7,028 | 7,887 |
| Broadcom | ( BRCM | Quote | Chart | News | PowerRating) |
42.85 | 9,789 | 7,306 |
Institutional Laggards.
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Amgen | ( AMGN | Quote | Chart | News | PowerRating) |
59.69 | 9,202 | 7,221 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler