Tuesday’s Top Stocks
More testing with the
leading-laggard semiconductor sector taking center stage in Monday’s trade added
up to more ‘non-cents’ than anything else, in one cautious bull’s humble
opinion. With the Nasdaq Composite and
S&P500 closing out the day in mixed fashion, down .48% to a miniscule gain of
.05% on lethargic trade, I think I preferred last Monday’s nonperformance a
whole lot more.
Nothing has changed of course, except for this
cautious bull’s own conviction that the market is still on shaky ground. Further
testing of supports is typically a good thing, and I do love looking for
reversal lows more than the next guy. However, with zone supports (Fibonacci and
Channel) stretching all the way down to the 31.50 area in our leading laggard
the SMH, the technical disrepair of most leading growth stocks still a big
concern, and historically low implied volatility levels continuing to plague any
bovine thoughts–I honestly don’t mind steering these horns clear for the time
being.
Volatility Readings:
| Volatility Index | Close | Net Change | Signals/Direction | % Above/Below 10 Day Moving Average | Significance |
| VXO ( $VXO | Quote | Chart | News | PowerRating) |
16.20 | up .71 | na | 5% above | not at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
21.77 | down .58 | cvn 2 buy | 4% above | not at extreme |
Hottest Sectors : Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Semiconductor
(
SMH |
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 |
| TASER | ( TASR | Quote | Chart | News | PowerRating) |
41.55 | Top of range close in weekly handle consolidation |
9,821 | 5,407 |
^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 |
| NA | NA | NA | NA | NA | NA |
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 |
| Gilead Sciences | ( GILD | Quote | Chart | News | PowerRating) |
65.63 | 3,214 | 2,343 |
| IBM | ( IBM | Quote | Chart | News | PowerRating) |
84.95 | 5,039 | 6,005 |
Institutional Shorts
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| InterActive Corp | ( IACI | Quote | Chart | News | PowerRating) |
29.48 | 4,504 | 3,196 |
| Oil Services | ( OIH | Quote | Chart | News | PowerRating) |
71.86 | 1,916 | 1,048 |
| Apple | ( AAPL | Quote | Chart | News | PowerRating) |
29.14 | 6,593 | 9,086 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler