Tyler

Here Are Friday’s Top Stocks By Chris Tyler TradingMarkets.com March 21, 2003 10:30 AM ET

Christopher A. Tyler was an Equity Options Market Maker for 8 years on the American and Pacific Exchanges, then broadened his career by becoming an equities trader. He writes the Nightly Daytraders Report, as well as the Nightly Options Report for TradingMarkets.com, and provides daily stock and options analysis for the TradingMarkets War Room.

The ETFs reversed early
losses to close in the green in Thursday’s trade.
For the Dow Jones proxy, the (DIA), it was a record seventh session in a row, a
feat not seen in well over two years.
Volume was lighter on both the
NYSE and the Nasdaq, but intraday volatility was alive and well as a combination
of fear, greed, and speculation seem to be the major players in today’s market,
as the situation overseas holds investors’ pockets and imaginations hostage.

There is an abundance of charts
looking incredibly similar if one takes a gander at the daily perspective… way
overbought, after a way oversold condition. This doesn’t mean that the market
can’t go higher, just look at last October for a clue if you don’t believe me.
As I stated in a recent column, in this environment, someone’s going to get
hurt. Unfortunately, (and we hope that isn’t the case ) that someone could be
either our brave soldiers on the front, the “Generals” (Institutions) scrambling to align their own strategic front in the market place, or both.
God bless them all.

With the ETFs closing well, it might
suggest upside momentum going in to Friday’s trade. Fortunately, as a
daytrader I can anticipate the next day without having to suffer any overnight
hostilities placed on carryover positions, because we don’t need to take on the
extra supplies when we can’t see what’s going on. My own participation in the
markets only “triggers” during the relative safety of Stateside trade.
Of course it goes without saying that when I do make the decision to go to the
front line, I go there with the best artillery possible, my nightly list of High
and Low RS stocks.

Hottest Sectors : Internet
(
HHH |
Quote |
Chart |
News |
PowerRating)
and Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)

Weakest Sectors : Biotechs
(
BBH |
Quote |
Chart |
News |
PowerRating) and
Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating)

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Friday’s HELVETICA>stocks to watch:

High

RS issues
closing in Top of Range.

Stocks are scanned from 3 Month RS of 80 or higher
and TM’s Proprietary and Technology 10 Momentum lists on the Indicators page.

Weak RS issues closing in
Bottom of Range.

Stocks
are scanned from 3 Month RS of 35 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.