Friday’s Stock Watch

CBOE Internet
Index
(
$INX.X |
Quote |
Chart |
News |
PowerRating) down 6.16% at
98.40.

North American Telecoms
Index
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) down 5.05% to 536.76.

New 52-Week Highs Consolidations:

Banking – 59

Real Estate – 27

Consumer Non-Durables – 22

Leisure – 20

Diversified Services – 19

Retail – 18

Insurance – 15

Manufacturing – 13

Metals and Mining – 13

Food and Beverage – 12

Health Services – 11

Utilities – 10

Automotive – 9

Materials and Construction – 8

Specialty Retail – 8

Consumer Durables – 7

Financial Services – 7

Drugs – 6

Wholesale – 5

Aerospace/Defense – 4

Chemicals – 4

Electronics 4

Media – 4

Telecommunications – 4

Conglomerates – 3

Watch List Action:

Panera Bread Company
(
PNRA |
Quote |
Chart |
News |
PowerRating) followed up its breakout with a 1.55% loss
on over twice average volume. We like to see breakouts follow through with some
upside, and the heavy volume suggests a heavy battle at hand.

Movie Gallery
(
MOVI |
Quote |
Chart |
News |
PowerRating), followed up its breakout with a 6.50% loss on
almost three times average volume. This isn’t what we want to see here, and
looks to be coming off our list. 

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.

Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), 
down 2.19% on below-average volume.

Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), down 4.84% on
below-average volume.

Movie Gallery
(
MOVI |
Quote |
Chart |
News |
PowerRating),
down 6.51% on almost three times average volume.

size=2>Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), down 2.39% below-average volume.

size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), down 1.55% on
over twice average volume.