Friday’s Stock Watch

• June 13, 2002
• TradingMarkets Editors

The major indexes turned in
another negative performance, as a worse than expected retail sales
report set a dim mood on Wall Street. Leading the advancers list were oil
service, natural gas, utilities, and biotechnology with slight gains; while
computer hardware, networking, gold and silver, retail, banks, and insurance
companies were hit with the heaviest selling pressure. Once again, there were no
groups making 52-week highs of ten or more. The 52-week lows list stood out with
names from the telecommunications, electronics, and software sectors. Stocks on
our watch list were all down.

Market breadth was negative, with NYSE
declining issues over advancing issues by a ratio of 1.59, and down volume over
up volume by a 2.01 ratio. Nasdaq declining issues over advancing issues came in
at 1.68, and down volume beat up volume by a 1.80 ratio.

The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down 1.19% at 9502.80. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down 1.05% at 1009.52.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed down 1.46%
at 1496.89.

 

Top sectors:

Oil Service Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating), up 1.07% at
97.00.

Natural Gas Index
(
$XNG.X |
Quote |
Chart |
News |
PowerRating),
up 0.96% at 160.35.

Losing sectors:

Disk Drive Index
(
$DDX.X |
Quote |
Chart |
News |
PowerRating), down 4.70% at
70.09.

GSTI Services Index
(
$GSV.X |
Quote |
Chart |
News |
PowerRating), down
2.86% at
142.22.

Sectors with Most New 52-Week Highs (10 or more):

None

Watch List Action:

Chicos FAS
(
CHS |
Quote |
Chart |
News |
PowerRating) fell 2.16% on low volume. The stock has been decreasing
in volume as it sloped down, which suggests it may be pulling back before
resuming an uptrend.

Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating) fell 3.78% on below average volume for a slight
distribution day. The stock is approaching its pivot buy point of 42.23.

Recent Breakouts

size=2>

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.

Chicos FAS Inc.
(
CHS |
Quote |
Chart |
News |
PowerRating), down 2.17% on
low volume.

Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), down
2.73% on low volume.

Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), down 3.78% on
below-average volume for its second distribution day in a row.

size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), down 2.69%

on below-average volume.

color=#ffffff size=2>Company Name	color=#ffffff size=2>Symbol	color=#ffffff size=2>12 Month RS	color=#ffffff size=2>Price	color=#ffffff size=2>Price Change	color=#ffffff size=2>Average Volume	Pivot	52-Week High
Chicos FAS Inc.	( CHS | Quote | Chart | News | PowerRating)	93	39.59	– 0.88	703,100	38.08	42
Christopher & Banks	( CHBS | Quote | Chart | News | PowerRating)	93	41.64	– 1.17	414,200	33.60	42.45
Group 1 Automotive	( GPI | Quote | Chart | News | PowerRating)	77	37.10	– 1.46	276,400	42.23	50.08
size=2>Panera Bread Co	size=2> ( PNRA | Quote | Chart | News | PowerRating)	92	67.43	– 1.87	459,500	66.23	73.60

Stocks Forming a Handle

color=#ffffff size=2>Company Name	color=#ffffff size=2>Symbol	color=#ffffff size=2>12 Month RS	color=#ffffff size=2>Price	color=#ffffff size=2>Price Change	color=#ffffff size=2>Average Volume	Pivot
None	Â	Â	Â	Â	Â	Â

Stocks Building A Base

color=#ffffff size=2>Company Name	color=#ffffff size=2>Symbol	color=#ffffff size=2>12 Month RS	color=#ffffff size=2>Price	color=#ffffff size=2>Price Change	color=#ffffff size=2>Average Volume
None	Â	Â	Â	Â	Â

href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com

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