Tuesday’s Top Stocks
I don’t know about you, but I thought Monday was pretty ‘good’ too. With the
indices up between .55% to .61%, price was definitely nice as the market notched
its fifth session of consolidation work since the Nasdaq’s FTD. Volume in today’s
trade might be said to be a little bit less than good, as it came in well below
average in both the S&P 500 and Nasdaq. But, considering the inside-day
technical ‘lap’, within the what I’ll call a daily chart handle–this cautious
bull is still liking the action as the market bides its time, ‘oh yahoo!!’
It’s kind of ironic, as a light-volume, inside day was established within the
daily range–which lends itself to a certain sort of investor security–that
stocks in the security sector were anything but…Magal Security (MAGS) and
International Electronics (IEIB) come to mind as they represent the gamut of
‘mo-mo’ momentum in today’s trade. Now, don’t get me wrong–I like a good story
as well as the next guy, but there does come a point where I just shake my cautious
horns, and look to ‘hide the hide’ instead. Hmm, maybe part of this little guy
steering clear has to do with the likes of Mace Security Int’l. (MACE)–nice
name indeed, but considering the company’s primary activities are still focused
on operating full car wash facilities, and secondly being a marketer of security
products–I ‘cents’ somebody is going to get cleaned inside and out if they
overstay their welcome beyond the realm of disciplined, consistent daytrading
tactics.
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VXO ( $VXO | Quote | Chart | News | PowerRating) |
15.58 | down .25 | na | 0% below | not at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
20.35 | down 1.03 | na | 8% below | not at extreme |
Hottest Sectors : Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Biotech
(
BBH |
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 |
| Artisan Components | ( ARTI | Quote | Chart | News | PowerRating) |
22.55 | Daily handle b/o on increased trade, closing high of day | 467 | 265 |
| Deckers | ( DECK | Quote | Chart | News | PowerRating) |
28.40 | Ascending triangle b/o on heavy volume, closing top of range |
263 | 1,202 |
| California Micro Devices | ( CAMD | Quote | Chart | News | PowerRating) |
15.23 | top of range consolidation on 2.5-month pattern b/o, on average trade |
448 | 425 |
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 |
| Toll Brothers | ( TOL | Quote | Chart | News | PowerRating) |
41.82 | Bottom of range consolidation on increased, above-average volume, breaking recent consolidation lows |
1,123 | 1,255 |
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 |
| Amazon | ( AMZN | Quote | Chart | News | PowerRating) |
47.96 | 8,859 | 4,336 |
| Maxim Integrated | ( MXIM | Quote | Chart | News | PowerRating) |
49.97 | 5,832 | 3,053 |
Institutional Laggards.
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| QLogic | ( QLGC | Quote | Chart | News | PowerRating) |
31.75 | 4,968 | 3,115 |
| Electronic Arts | ( ERTS | Quote | Chart | News | PowerRating) |
53.15 | 4,606 | 2,652 |
| Veritas | ( VRTSE | Quote | Chart | News | PowerRating) |
26.27 | 6,937 | 6,680 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler