Friday’s Stock Watch
The markets pushed higher
today, with the three major indexes closing at the top of their daily
ranges on below average volume. Leading the action was biotechnology, Internet,
airline, software, and gold and silver; with semiconductors, networking, and
pharmaceuticals down slightly. NYSE 52-week highs perked up, with the Nasdaq
still lagging here. Stocks on our watch list were all green.
Market breadth was positive, with NYSE
advancing issues over declining issues by a ratio of 1.71, and up volume over
down volume by a 2.83 ratio. Nasdaq advancing issues over declining issues came
in at 1.43, and up volume beat down volume by a 2.13 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 0.57% at 10216.08. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up 0.98% at 1096.71.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed up 1.44% at 1697.62.
Â
1,983
2,028
Issues
1,158
1,423
846,527,000
1,171,538,000
298,951,000
549,708,000
Total
Volume
1,169,094,000
1,749,951,000
Highs
58
18
5
11
Top sectors:
Biotechnology Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), up 7.40% at
431.24.
Dow Jones Internet Commerce Index
(
$ECM.X |
Quote |
Chart |
News |
PowerRating),
up 3.49% at 47.74.
Losing sectors:
Semiconductor
Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) down
0.54% at
543.54.
Networking Index
(
$NWX.X |
Quote |
Chart |
News |
PowerRating), down 0.07% at
213.37.
Sectors with Most New 52-Week Highs:
Due to a technical problem, this data will not be available.
Watch List Action:
Right Management Consultants
(
RMCI |
Quote |
Chart |
News |
PowerRating) advanced 2.21% on low volume. Lack
of volume for the day’s gain suggests the upside may be losing steam. Until we
see distribution, the bias remains bullish.
Chicos FAS
(
CHS |
Quote |
Chart |
News |
PowerRating) was our biggest gainer today as it rose 6.60% on above
average volume. For the past three weeks, the stock put in four accumulation
days and two distribution days. So far the breakout is holding.
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), up 6.59% on
above-average volume.
Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), up
2.97% on below-average volume.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), up 4.54% on
average volume.
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 1.19%
on below-average
volume.
Right Mgt. Consultants
(
RMCI |
Quote |
Chart |
News |
PowerRating), up 2.20% 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 | + 2.45 | 609,000 | 38.08 | 42 |
Christopher & Banks | ( CHBS | Quote | Chart | News | PowerRating) | 93 | 40.85 | + 0.86 | 437,800 | 33.60 | 42.45 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 95 | 46.26 | + 2.01 | 261,400 | 42.23 | 50.08 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 89 | 67.55 | + 0.80 | 401,000 | 66.74 | 73.60 |
Right Mgt. Consultants | ( RMCI | Quote | Chart | News | PowerRating) | 91 | 31.50 | + 0.68 | 290,200 | 290,200 | 28.95 |
Stocks Forming a Handle
DR Horton Inc.
(
DHI |
Quote |
Chart |
News |
PowerRating), up 1.48%
on below-average volume for an accumulation day.
Winnebago Industries
(
WGO |
Quote |
Chart |
News |
PowerRating) up 2.31%
on below average volume for an accumulation day.
| 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 |
DR Horton Inc. | ( DHI | Quote | Chart | News | PowerRating) | 85 | 25.29 | + 0.37 | 2,132,800 | 27.14 |
Winnebago Industries | ( WGO | Quote | Chart | News | PowerRating) | 94 | 47.78 | + 1.08 | 232,700 | 49.60 |
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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