Friday’s Stock Watch
The broader
markets went
into a buying frenzy as technology issues closed out with big gains
on the day. Volume was above average, as the major indexes put in accumulation
days. The Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) defied all sectors with a
8.28% gain, while breaking out of a four-month base. Stocks on our watch lists
were mixed, with only one accumulation day made.
Market breadth was positive, with
NYSE advancing issues leading declining issues by a ratio of 2 to 1, and down volume
over up volume by a 1.30 ratio. Nasdaq advancing issues over declining
issues came in at 1.68, and up volume beat down volume by over a 3.3 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed
up
0.98% to
10,172.14. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up
0.91% to
1,165.15.
The Nasdaq [$COMPQ |$COMPQ] closed up
3.28% to
2,044.23.
| NYSE | NASDAQ | |
| Advancing Issues | 2,108 |
2,289 |
| Declining Issues | 1,054 |
1,358 |
| Advancing Volume |
779,633,000 |
1,670,968,000 |
| Declining Volume |
599,555,000 |
504,195,000 |
| Total Volume | 1,397,567,000 |
2,186,339,000 |
| New 52-week Highs | 32 | 34 |
| New 52-week Lows | 3 | 1 |
Top sectors:
Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) up 8.28% at 590.62
Networking Index
(
$NWX.X |
Quote |
Chart |
News |
PowerRating) up
5.92% at 356.02.
Losing sectors:
Biotechnology
Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) down 2.03% at 559.60.
Morgan Stanley Healthcare Product Index
(
$RXP.X |
Quote |
Chart |
News |
PowerRating) down
1.28% to 1064.87.
Sectors With New Highs:
There were no consolidations in today’s action.
Watch List Action
Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating), went against today’s overall trend by falling .41%
on below-average volume. The stock did not trade below yesterday’s low, and has
possibly reversed its down trend.
Our biggest gainer of the day was NVIDIA Corp
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 6.55% on below-average volume. This designer, developer, and marketer of graphics software is
a member of the strong semiconductor group. There have been five distribution days,
and 10 accumulation days in the past three months.
Recent Breakouts
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.
American Healthways Inc
(
AMHC |
Quote |
Chart |
News |
PowerRating), down 2.22% on above average volume for its
second
distribution day in a row.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), up 3.50% on below -verage volume.
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating), up 2.76% on below-average
volume.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating), up 2.48% on
average volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), up 1.20% on
average volume.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 1.41% on
below-average volume.
PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), up 2.24% on half its
average volume.
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating), up 5.82% on below-average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
97 | 29.87 | – 0.68 | 305,300 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
90 | 36.62 | + 1.24 | 690,400 |
| Ebay | ( EBAY | Quote | Chart | News | PowerRating) |
91 | 68.00 | + 1.83 | 7,628,600 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
99 | 68.86 | + 1.67 | 2,597,800 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
94 | 42.82 | – 0.18 | 905,200 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
97 | 15.18 | + 0.18 | 482,200 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
98 | 71.74 | + 4.44 | 9,443,600 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
95 | 51.50 | + 0.72 | 277,600 |
| PEC Solutions | ( PECS | Quote | Chart | News | PowerRating) |
99 | 37.82 | + 0.83 | 626,300 |
| THQ Inc. | ( THQI | Quote | Chart | News | PowerRating) |
83 | 49.59 | + 2.73 | 1,575,300 |
Stocks Forming a Handle
Career Education Corp.
(
CECO |
Quote |
Chart |
News |
PowerRating), up 0.29% on low volume.
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating), up 1.90% on
average volume.
Integra Lifesciences
(
IART |
Quote |
Chart |
News |
PowerRating) up 3.94% on
above-average
volume for an accumulation day.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| Career Education Corp. | ( CECO | Quote | Chart | News | PowerRating) |
84 | 34.50 | + 0.10 | 613,700 |
| Direct Focus Inc. | ( DFXI | Quote | Chart | News | PowerRating) |
92 | 30.00 | + 0.56 | 667,300 |
| Integra Lifesciences | ( IART | Quote | Chart | News | PowerRating) |
86 | 26.60 | + 1.01 | 300,500 |
Stocks Building A Base
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| None |