Friday’s Stock Watch
The markets
made another weak close, as the bears once again got the better part
of the day. Blue chips held positive ground for most of the session, as the
semiconductors led the technology sectors to the downside. There was no standout
action on the 52-week lists, though the NYSE gainers edged the losers. Stocks on
our ever-shrinking watch list were all down.
Market breadth was mixed, with NYSE
declining issues over advancing issues by a ratio of 1.21, and up volume over
down volume by a 1.21 ratio. Nasdaq declining issues over advancing issues came in
at 1.53, and down volume beat up volume by a 2.76 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down
0.28% to
9,625.44. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down
0.30% to
1080.17.
The Nasdaq [$COMPQ |$COMPQ] closed down
1.68% to
1,782.11.
1,396
1,386
Issues
1,691
2,127
772,406,000
520,336,000
638,356,000
1,435,673,000
Volume
1,421,818,000
1,974,798,000
Highs
21
8
8
8
Top sectors:
Gold and Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating) up 3.87% at 67.30.
Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) up
1.82% at 85.77.
Losing sectors:
Semiconductor
Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) down
4.95%
at 515.96.
Oil Service Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) down
3.08% to 80.74.
Sectors With New
Highs:
REITs – 4 –
(
WRE |
Quote |
Chart |
News |
PowerRating),
(
PSA |
Quote |
Chart |
News |
PowerRating),
(
GGP |
Quote |
Chart |
News |
PowerRating),
(
CBL |
Quote |
Chart |
News |
PowerRating).
Diversified Utilities – 3 –
(
WPS |
Quote |
Chart |
News |
PowerRating),
(
ALE |
Quote |
Chart |
News |
PowerRating),
(
PCG |
Quote |
Chart |
News |
PowerRating).
Watch List Action
Our biggest loser of the day was Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating), down 17.69%
on almost three times average volume for a heavy distribution day. The stock
still remains above its 200-day moving average.
Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating) had another down day, losing 4.54% on over five times average volume. The stock bounced off of its 50-day moving average at its
low of the day.
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.
size=2>Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), down 1.85% on below-average volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), down 2.63% on
above-average volume
for its second distribution day in a row.
size=2>Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), down 3.24% 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 |
| size=2>Copart Inc. | size=2> ( CPRT | Quote | Chart | News | PowerRating) | 85 | 22.80 | – 0.43 | 1,053,000 | 8.60 | 25.82 |
| size=2>Genesis Microchip | size=2> ( GNSS | Quote | Chart | News | PowerRating) | 98 | 44.07 | – 9.48 | 3,162,000 | 38 | 74.90 |
| size=2>MTR Gaming Group | size=2> ( MNTG | Quote | Chart | News | PowerRating) | 96 | 14.80 | – 0.40 | 605,100 | 14.30 | 17.16 |
| size=2>Nvidia Corp. | size=2> ( NVDA | Quote | Chart | News | PowerRating) | 95 | 60.01 | – 2.01 | 9,036,400 | 52.67 | 72.66 |
| size=2>Panera Bread Co. | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 97 | 57.65 | – 2.75 | 285,500 | 14.55 | 64.94 |
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 |
None |
Stocks Building A Base
size=2>Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), down 8.57% on above-average
volume for a distribution 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 |
| size=2>Multimedia Games Inc. | size=2> ( MGAM | Quote | Chart | News | PowerRating) | size=2>99 | 34.74 | – 3.26 | 192,300 |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com