Friday’s Stock Watch

The broader markets
were mixed after yesterday’s explosive session.
The Dow and S&P 500 were
down slightly, while the Nasdaq managed to eek out a small gain. Overall volume
was above average, with no clear indication of a bullish or bearish bias. New
52-week highs on the day came in at even higher levels than yesterday. Business,
medical, and semiconductors continue to have the strongest concentrations of
breakouts, while REITS, restaurants, electronics, and home furnishing type
products are showing signs of strength. Our watch list experienced some heavy
selling, with a couple of profound distribution days.


The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating)
closed down

0.15% to

10,099.14. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)

closed down

0.29% to

1,166.98.
The Nasdaq [COMPQ | COMPQ] closed up

0.36% to

2,054.27.


NYSE NASDAQ
Advancing Issues
1,580

2,068
Declining Issues
1,540

1,564
Advancing Volume
698,430,000

1,196,471,000
Declining Volume

698,430,000

916,559,000
Total Volume
1,450,747,000

2,144,145,000
New 52-week Highs 100 80
New 52-week Lows 7 1

Top sectors:

CBOE Internet Index
(
$INX.X |
Quote |
Chart |
News |
PowerRating)
up 3.11% to
144.27.

Securities Broker/Dealer Index
(
$INSR.X |
Quote |
Chart |
News |
PowerRating)

up 2.30% to 515.92.

Networking Index
(
$NWX.X |
Quote |
Chart |
News |
PowerRating)
up 7.72 to
369.62.

Losing sectors:

Oil Service Sector Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating)
down
3.48% to 81.12.

Oil Index
(AMEX)
(
$XOI.X |
Quote |
Chart |
News |
PowerRating)
down
2.60% to 497.92.

Sectors With New Highs:

Business Equipment – 1

Business Services – 6

Business Software and Services – 4

Electronic Equipment – 1

Electronics Stores – 2

Electronics Wholesale – 1

Home Furnishings stores – 2

Home Furnishings Fixtures – 1

Home Improvement Stores – 1

Medical Appliances and Equipment – 1

Medical Equipment and Wholesale – 1

Mecical Instruments and Supplies – 2

Medical Laboratories and Equipment – 1

REIT Construction – 3

REIT Retail – 3

Restaurants – 5

Semiconductors Integrated Circuits – 3

Semiconductor Specialized – 3

Trucking – 2

Trucks and Other Vehicles – 2

Watch List Action

PEC
Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating)
fell 3.79% on over twice average volume. Since its 11/14
breakout, the stock has experienced very little in the way of a pullback.

THQ Inc
(
THQI |
Quote |
Chart |
News |
PowerRating)
saw the gains of yesterday’s breakout quickly
erased with a loss of 7.97%, and almost three times average volume for a distribution
day. Yesterday’s breakout volume came in at almost twice average volume. This is
not the type of action we like to see follow a breakout.

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)
up 1.46% on
above-average volume.

Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating)
down 1.05% on below-average volume.

Ebay

(
EBAY |
Quote |
Chart |
News |
PowerRating)
up 1.69% on

below-average volume.

Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating)
down 4.91% on
twice
average volume for a distribution day.

Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating)
up 1.75% on
below-average volume.

MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating)
up 2.48% on
twice average
volume.

Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating)
down 1.57% on average volume.

Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating)
up 0.24% on average
volume.


Company
Name

Symbol

12 Month RS

Price

Price Change

Average
Volume
American Healthways Inc.
(
AMHC |
Quote |
Chart |
News |
PowerRating)
99 34.55 + 0.50 214,800
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating)
94 35.62 – 0.38 816,800
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating)
92 70.15 + 1.17 9,130,800
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating)
99 60.42 – 3.12 2,432,300
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating)
94 38.90 + 0.67 854,000
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating)
96 12.77 + 0.31 304,100
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating)
96 61.84 – 0.99 9,986,100
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating)
96 50.03 + 0.12 320,700
Pec Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating)
99 37.05 – 1.46 431,300
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating)
96 58.24 – 5.05 1,500,600

Stocks Forming a Handle



Company
Name

Symbol

12 Month RS

Price

Price Change

Average
Volume
None

Stocks Building A Base


Company
Name

Symbol

12 Month RS

Price

Price Change

Average
Volume
None

danielb@tradingmarkets.com