Wednesday’s Top Stocks
Select your comfort
level–and then always use stops. It looks like some investors woke
up on the wrong side of the bed as Select Comfort (SCSS) found very little in
the way of support in today’s trade–down more than 30% intraday. I seriously
wish that it might have been different on this, my last hurrah at TM, but
unfortunately the market was less-than-comfortable with the prospects of
cheerfully rising to the occasion. Oh well, with the S&P500 and Nasdaq Composite
rounding out the final thirty minutes of trade in mixed fractional, light volume
fashion I guess I’ll just have to say ‘Oh Yahoo’ for my own prospects going
forward.
A departure song, ‘Now it’s time to say goodbye,
to all my family….CHR–IST–OPHER….’ Everything is changing for this
cautious bull, unfortunately the song remains the same for some other bull out
there. With our leading-laggard, the semiconductor sector (SMH) showing little
in the way of wanting to move higher within its downtrend channel, and all the
other ongoing technical flags of caution still waving violently in the winds of
caution–this cautious bull’s final note will also be about the LZ. No, not the
Landing Zone, more humming of that famous Led Zeppelin song–’cause if you want
to land upright each and every day, continue to stick with your 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) |
15.64 | down .29 | na | 2% above | not at extreme |
| VXN ( $VXN | Quote | Chart | News | PowerRating) |
21.42 | down .31 | na | 1% above | not at extreme |
Hottest Sectors : Retail
(
RTH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors : Software
(
SWH |
Quote |
Chart |
News |
PowerRating)
Wednesday’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 |
| Deckers | ( DECK | Quote | Chart | News | PowerRating) |
29.60 | Wide range bullish bar within daily handle |
341 | NA |
^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 |
| Wal-Mart | ( WMT | Quote | Chart | News | PowerRating) |
53 | 10,037 | 8,397 |
Institutional Shorts
| Name | Symbol | Price | Average Volume 000’s | Today’s Volume |
| InterActive Corp | ( IACI | Quote | Chart | News | PowerRating) |
29.17 | 4,504 | 1,914 |
| Oil Services | ( OIH | Quote | Chart | News | PowerRating) |
71.33 | 1,916 | 1,225 |
| KLA-Tencor | ( KLAC | Quote | Chart | News | PowerRating) |
43.20 | 7,262 | 12,256 |
Best of luck to everyone. Please use protective stops on all trades.
Chris Tyler