Friday’s Stock Watch
The broader markets
traded down on light volume today, as the indexes experienced mild
losses. Going into the long Thanksgiving weekend, little action was expected.
NYSE down volume dominated up volume by 2 to 1, though volume on the Nasdaq was
equally balanced. We saw some breakouts to new highs in new sectors, which is an
encouraging sign as far as adding breadth to solidify a base. Some of the stocks on
our watch lists suffered heavy losses today, as the quest for leadership in this
market still remains an issue. Technology has been the hardest hit this week,
bringing it down a notch from its recent run.
The Dow Jones Industrial Average
(
$INDU.X |
Quote |
Chart |
News |
PowerRating) closed down
0.68% to
9,834.54. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down
0.52% to
1,136.72.
The Nasdaq
(
$COMPQ.X |
Quote |
Chart |
News |
PowerRating) closed
down
0.29%
to
1,874.98.
| NYSE | NASDAQ | |
| Advancing Issues | 1,264 |
1,719 |
| Declining Issues | 1,813 |
1,780 |
| Advancing Volume | 334,650,000 |
756,839,000 |
| Declining Volume |
664,360,000 |
785,809,000 |
| Total Volume | 1,009,412,000 |
1,560,412,000 |
| New 52-week Highs | 16 | 17 |
| New 52-week Lows | 7 | 2 |
Top sector gainers:
Semiconductor Sector Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) up
1.89% to
503.47
Pharmaceutical Index
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) up
1.35%
to
401.85.
Losing sectors:
High Technology
Index
(
$PSE.X |
Quote |
Chart |
News |
PowerRating) down
2.67% to
661.54.
Computer Technology
Index
(
$XCI.X |
Quote |
Chart |
News |
PowerRating)
down 1.13%
to 758.21
Leading Sectors
with new highs:
Restaurants – 5
Scientific and Technological Instruments – 4
Drug Manufacturers – 3
PEC
Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), was able to make up for yesterday’s losses by gaining
4.22% on twice normal volume. The Internet sector as a whole was slightly down
for the day, which makes this stock’s performance stand out in a show of
strength.
Experiencing a clear distribution day was EPIQ Systems
(
EPIQ |
Quote |
Chart |
News |
PowerRating), down 15.97% on over
five times average volume. This company which specializes in bankruptcy
procedures has retraced all of its gains since its breakout a couple of weeks
ago. It is just another example of a stock with superior technical and
fundamental qualities that is unable to lead. Recent downgrades of the stock
didn’t help matters.
Recent Breakouts
We monitor the action of Recent Breakouts as an indicator of the market
health for IT traders. When breakouts are acting well, this is a good sign for
the likelihood of further sustainable breakouts. When breakouts are failing, IT
traders should be even more cautious.
American Healthways Inc.
(
AMHC |
Quote |
Chart |
News |
PowerRating) was down – 1.14 on
well-below average volume.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating) was down 1.73% on well-below average volume.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating)
was up 1.57% on half normal volume.
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating) was down 3.43%
on almost twice normal volume, suggesting more distribution.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating)
was down 1.28% on below -verage volume.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating) was down 0.12 on
below-average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
99 | 31.70 | – 0.49 | 146,300 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
96 | 30.02 | – 0.53 | 806,000 |
| EPIQ Systems | ( EPIQ | Quote | Chart | News | PowerRating) |
98 | 31.70 | – 6.03 | 165,900 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
98 | 45.78 | + 0.71 | 2,424,600 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
94 | 49.26 | – 0.64 | 9,960,700 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
96 | 46.51 | – 0.06 | 318,500 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
95 | 39.91 | – 1.42 | 801,000 |
| PEC Solutions | ( PECS | Quote | Chart | News | PowerRating) |
98 | 31.33 | + 1.27 | 371,900 |
Stocks Forming a Handle
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating) was down 3.89% on above-average
volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| THQ Inc. | [THQI|THQI} | 96 | 52.00 | – 2.11 | 1,141,600 |
Stocks Building A Base
Metro One Telecomm Inc
(
MTON |
Quote |
Chart |
News |
PowerRating) was down 0.18%
on well below-average volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating) was up 2.17% on
half normal volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| Metro One Telecomm Inc | ( MTON | Quote | Chart | News | PowerRating) |
96 | 37.72 | + 0.07 | 805,400 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
95 | 12.70 | + 0.27 | 669,300 |
Remember that all securities are
risky. In any trade, you should always reduce your risk by adjusting position
size and placing open protective stops where you will sell your long or
cover your short in case the market turns against you.