Friday’s Stock Watch
The broader
markets moved
higher today as talk of “window dressing” and taxes circulated
through the
markets. Volume was again exceptionally light, edging out yesterday’s total by a
slight margin. The stocks on our watch list were mixed, with both impressive gains
and losses made.
Market breadth was positive and
nearly identical to yesterday, with
NYSE advancing issues over declining issues by a ratio of 1.85, and up volume
over down volume by a 2 to 1 margin. Nasdaq advancing issues over declining
issues came in at 1.40, and up volume beat down volume by over a 2.75 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up
0.43% to
10,131.31. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up
0.61% to
1,156.38.
The Nasdaq [$COMPQ |$COMPQ] closed up
0.802% to
1,976.42.
| NYSE | NASDAQ | |
| Advancing Issues | 2,048 |
2,152 |
| Declining Issues | 1,104 |
1,527 |
| Advancing Volume |
598,626,000 |
892,216,000 |
| Declining Volume |
250,998,000 |
324,046,000 |
| Total Volume | 873,231,000 |
1,238,041,000 |
| New 52-week Highs | 31 | 25 |
| New 52-week Lows | 0 | 0 |
Top sectors:
Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) up
1.90% at 530.61
Amex Internet Index
(
$IIX.X |
Quote |
Chart |
News |
PowerRating) up
1.80% at 146.81.
Losing sectors:
Morgan Stanley Health Care Product Index
(
$RXP.X |
Quote |
Chart |
News |
PowerRating)
down 0.38% to 1097.96.
Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating)
down 0.29% to 82.35.
Sectors With New Highs:
Business Services – 7
Drugs – 6
Electronics – 3
Home Furnishings – 3
Medical – 9
REITs – 7
Residential Construction – 5
Restaurants – 5
Trucking – 4
Watch List Action
Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating), gained 2.68% on average volume today, putting further
distance on its breakout made December 19th.
One of our biggest losers of the day was Integra Life Sciences
(
IART |
Quote |
Chart |
News |
PowerRating),
down 1.69 on low volume. We have had this stock on our “handles” list, and are
alerted to weakness in the price action, as it crossed and closed below its
50-day MA.
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 4.26% on average volume for an
accumulation day.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), down 0.72% on half of
its
average volume.
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating), down 0.25% on low volume.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating), up 3.17% on
half of its average volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), up 0.43% on
average
volume.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 2.31% on below-average volume.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), down 1.35% on
low volume.
PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), up 7.73% on half its
average volume for an accumulation day.
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating), down 2.47% on half its
average volume for a distribution day.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
98 | 32.97 | + 1.33 | 277,300 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
93 | 37.92 | – 0.58 | 694,300 |
| Ebay | ( EBAY | Quote | Chart | News | PowerRating) |
89 | 66.09 | – 0.25 | 8,470,900 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
99 | 68.20 | + 1.75 | 2,712,200 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
95 | 45.45 | + 0.98 | 875,900 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
97 | 16.01 | – 0.21 | 473,800 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
97 | 69.24 | + 1.43 | 5,565,200 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
95 | 52.95 | – 0.98 | 274,100 |
| PEC Solutions | ( PECS | Quote | Chart | News | PowerRating) |
99 | 36.33 | + 1.83 | 597,400 |
| THQ Inc. | ( THQI | Quote | Chart | News | PowerRating) |
89 | 51.24 | – 1.26 | 647,600 |
Stocks Forming a Handle
Career Education Corp.
(
CECO |
Quote |
Chart |
News |
PowerRating), down .69% on
half its average volume.
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating), up 4.57% on
low volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| Career Education Corp. | ( CECO | Quote | Chart | News | PowerRating) |
89 | 35.81 | – 0.29 | 768,600 |
| Direct Focus Inc. | ( DFXI | Quote | Chart | News | PowerRating) |
93 | 30.85 | + 1.34 | 684,600 |
| Integra LifeSciences | ( IART | Quote | Chart | News | PowerRating) |
90 | 26.35 | – 1.35 | 309,100 |
Stocks Building A Base
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| None |