Tuesday’s Top Stocks
How’s that song go, ‘it’s just another Manic Monday?’ For a day in which most
of the broader averages stayed coiled in an ultra-tight intraday consolidation,
and in fact, even finished the session for all intensive purposes as being an
‘inside day’ within the low volatility daily chart trading range–it was pretty
kooky in one guy’s humble opinion. For the session the S&P500 and Nasdaq
Composite finished down between .43% to .62%, as the final 90-minutes of trade
broke support for enjoying an afternoon siesta–and just as traders seem to be
getting more comfortable within their relatively new perch up against
intermediate-term resistance.
Nope, it still is far from being ‘EASI’–although that particular growth
stock and a couple other recent breakouts are doing the right thing for the first time in a long while. However, with all the other technical elements such as historically
low volatility levels, extremely divergent price action in many issues, the
majority of growth issues still not showing the right stuff, the leading
semiconductors pointing down, and of course major technical resistance within
the intermediate downtrend all still very much waving big yellow flags of
caution–this guy can continue to keep the bullish party horns and Roman garb
off to side until proven otherwise, and continue to focus on 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) |
14.63 | down .12 | cvr 6 sell | 1% below | not at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
19.73 | down .29 | cvn 6 sell | 7% below | not at extreme |
Hottest Sectors : Retail
(
RTH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
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 |
| Central Euro. Distributors | ( CEDC | Quote | Chart | News | PowerRating) |
24.75 | Increased, above-average volume cup and handle b/o | 80 | 762 |
| Chico’s Fashion | ( CHS | Quote | Chart | News | PowerRating) |
43.85 | Increased volume top of range close out of hammer, within daily chart handle |
1,126 | 747 |
^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 |
| Hansen Natural | ( HANS | Quote | Chart | News | PowerRating) |
23.92 | high volume bearish engulfing bar out of Fibonacci and channel resistance |
238 | 1,019 |
| Apollo | ( APOL | Quote | Chart | News | PowerRating) |
91.85 | Increased, above-average volume bearish two day pattern testing supports |
1,706 | 4,050 |
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 |
| TASER | ( TASR | Quote | Chart | News | PowerRating) |
30.38 | 6,406 | 24,041 |
| Mercury Interactive | ( MERQ | Quote | Chart | News | PowerRating) |
48.37 | 2,213 | 1,850 |
Institutional Shorts
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| Wal-Mart | ( WMT | Quote | Chart | News | PowerRating) |
54.93 | 9,157 | 7,904 |
| Amgen | ( AMGN | Quote | Chart | News | PowerRating) |
52.82 | 8,500 | 6,030 |
| Marvell Technology | ( MRVL | Quote | Chart | News | PowerRating) |
47.25 | 3,203 | 4,368 |
| Dow Jones ETF | ( DIA | Quote | Chart | News | PowerRating) |
103.81 | 7,085 | 4,151 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler