Friday’s Stock Watch

January 31, 2002
TradingMarkets Editors

The major
averages extended yesterday’s rally with above-average volume pushing
oil service and Internet stocks to the biggest gains of the day, as health care
and networking stocks trailed in the red. New 52-week highs came in at an
impressive 117 for the combined NYSE and Nasdaq markets, with only a handful of
lows. Stocks on our watch list were mixed, with key accumulation and
distribution made.

Market breadth was positive, with NYSE
advancing issues over declining issues by a ratio of 2.07, and up volume
over down volume by a 2.71 ratio. Nasdaq advancing issues over declining issues came in
at 1.20, and up volume beat down volume by a 1.27 ratio.

cellPadding=0 width=”70%” border=1>

	NYSE	size=2>NASDAQ
Advancing Issues	2,087	1,947
Declining Issues	1,008	1,625
Advancing Volume	1,101,759,000	1,128,677,000
Declining Volume	405,642,000	889,521,000
Total Volume	1,518,087,000	2,047,692,000
New 52-week Highs	75	42
New 52-week Lows	1	2

Top sectors:

Oil Service Sector Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) up
3.57% to 86.02.

Dow Jones Internet Commerce Index
(
$ECM.X |
Quote |
Chart |
News |
PowerRating)
up 2.59% to 54.09.

Losing sectors:

Disk Drive Index
(
$DDX.X |
Quote |
Chart |
News |
PowerRating) down 1.58% at
103.28.

Morgan Stanley Health Provider Index
(
$RXH.X |
Quote |
Chart |
News |
PowerRating) down
0.49% to 309.39.

Sectors With New
Highs:

Watch List Action

Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating) moved little, yet lost -.39% on less than
average volume.

American Healthways Inc
(
AMHC |
Quote |
Chart |
News |
PowerRating) fell 3.10% on above-average volume today.
The stock has now violated its pivot buy point of 24.93, and is currently parked
between its 50- and 200-day moving averages. The heavy distribution made in early
January was a precursor to this month’s price action.

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), up 1.11% on over four and a half times
average volume for an accumulation day.

size=2>Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating), up 4.80% on average volume.

MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), down 0.06% on below-average
volume.

size=2>Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 0.45% on below-average volume.

Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 4.07% on average volume.

size=2>PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), down 1.27% on low 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
size=2>American Healthways Inc.	size=2> ( AMHC \| Quote \| Chart \| News \| PowerRating)	97	27.13	– 0.87	313,200
size=2>Copart Inc.	size=2> ( CPRT \| Quote \| Chart \| News \| PowerRating)	87	22.60	+ 0.25	1,000,300
size=2>Direct Focus Inc.	size=2> ( DFXI \| Quote \| Chart \| News \| PowerRating)	92	35.71	-0.14	907,800
size=2>Genesis Microchip	size=2> ( GNSS \| Quote \| Chart \| News \| PowerRating)	98	60.47	+ 2.77	3,050,000
size=2>MTR Gaming Group	size=2> ( MNTG \| Quote \| Chart \| News \| PowerRating)	96	16.55	– 0.01	586,800
size=2>Nvidia Corp.	size=2> ( NVDA \| Quote \| Chart \| News \| PowerRating)	95	65.74	+ 0.30	9,010,900
size=2>Panera Bread Co.	size=2> ( PNRA \| Quote \| Chart \| News \| PowerRating)	96	62.50	+ 2.45	273,800
size=2>PEC Solutions	size=2> ( PECS \| Quote \| Chart \| News \| PowerRating)	95	26.35	– 0.34	743,100

Stocks Forming a Handle

Integra Lifesciences
(
IART |
Quote |
Chart |
News |
PowerRating) down 0.48% on
below-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>Integra Lifesciences	size=2> ( IART \| Quote \| Chart \| News \| PowerRating)	90	31.01	– 0.19	344,100

Stocks Building A Base

size=2>Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), up 4.32% on above average volume
for its third accumulation day in a row.

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	37.00	+ 1.85	187,600

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

Friday’s Stock Watch

BUY THE FEAR, SELL THE GREED

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