Friday’s Top Names
Thursday’s late afternoon rally gave us a strong
close across the indices, and appears to have corrected the correction mode.
Therefore, focus on the long side, but stay on your toes in case the market
turns in the opposite direction. The market has the ability to turn on its heel
and reverse; most traders do not and get caught flat-footed. Keep alert and
don’t get caught standing on the tracks if a train comes through; rather, be one
of the few able to hitch a ride on it
Hottest Sectors: Semiconductors
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) and Computer Technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating).
Weakest Sectors: Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating).
Friday’s stocks to
watch:
3 Month RS of 80 and higher and close in top
part of
range
|
Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Abgenix |
( ABGX | Quote | Chart | News | PowerRating) |
93 | 35.65 |
1,641,672 |
1,071,400 |
| Emulex | ( EMLX | Quote | Chart | News | PowerRating) |
97 | 32.69 | 7,807,455 | 13,596,100 |
Genesis Microchip |
( GNSS | Quote | Chart | News | PowerRating) |
97 | 58.20 | 2,134,118 |
3,641,300 |
| Internet Security Systems | ( ISSX | Quote | Chart | News | PowerRating) |
97 | 32.65 | 2,145,114 | 9,289,500 |
3 Month RS of 20 or lower
and close in bottom part of range
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Alpharma | ( ALO | Quote | Chart | News | PowerRating) |
6 | 23.97 | 445,229 | 245,200 |
| Astoria Financial | ( ASFC | Quote | Chart | News | PowerRating) |
10 | 50.38 | 589,920 | 562,200 |
| BJ’s Wholesale |
( BJ | Quote | Chart | News | PowerRating) |
11 | 44.20 | 832,603 |
1,156,300 |
| VeriSign | ( VRSN | Quote | Chart | News | PowerRating) |
18 | 37.73 | 12,187,532 | 16,264,400 |
3 Month RS of 80
and higher with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| McData | ( MCDT | Quote | Chart | News | PowerRating) |
98 | 25.06 | 1,751,923 | 4,338,600 |
| Scientific-Atlanta | ( SFA | Quote | Chart | News | PowerRating) |
91 | 27.69 | 1,772,623 | 2,045,900 |
| Millennium Pharmaceuticals | ( MLNM | Quote | Chart | News | PowerRating) |
92 | 33.10 | 3,090,857 | 5,015,900 |
| ImClone Systems | ( IMCL | Quote | Chart | News | PowerRating) |
95 | 72.96 | 1,879,266 | 1,485,700 |
Stocks in Slim Jims
High RS at
or near high
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Check Point Software | ( CHKP | Quote | Chart | News | PowerRating) |
82 | 39.92 | 10,326,572 | 9,595,300 |
Genesis Microchip |
( GNSS | Quote | Chart | News | PowerRating) |
97 | 58.20 | 2,134,118 |
3,641,300 |
| Sage, Inc. | ( SAGI | Quote | Chart | News | PowerRating) |
97 | 32.68 | 461,505 | 1,007,400 |
Low RS at
or near low
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Alpharma | ( ALO | Quote | Chart | News | PowerRating) |
6 | 23.97 | 445,229 | 245,200 |
| CSG Systems | ( CSGS | Quote | Chart | News | PowerRating) |
2 | 30.76 | 792,257 | 1,700,800 |
| Syncor International | ( SCOR | Quote | Chart | News | PowerRating) |
4 | 27.00 | 340,165 | 313,200 |
Best of luck with your trading Friday. Please use
protective stops on trades.