Friday’s Top Stocks
Even though investors and traders were “AT” on ( T ), due to a
disappointing earnings report and guidance going foward, the
markets preferred to concentrate on good news in today’s trade, sending the ETFs
into the plus column for the first time in a six sessions.
Plenty of solid reports, an apparent lack of “breaking news” out of
Iraq, and a market due for a technical bounce were the backdrop for the
percentage gains ranging from .75 up to roughly 2% in the major averages.
Although telecom
proved to be an area of sector weakness within technology, it was the NASDAQ,
and the QQQs that proved to be the backbone for the overall markets performance
today. The DIAs slipped through the December lows intraday, while the SPYs
tested yesterdays levels, but the QQQs held steady in the green on reports out
of PSFT, QCOM, TXN, CHKP, and SEBL.Â
Suffice it to say, it
was nice to see some stabilization in the ETFs off of support zones, especially
in light of the AT & T news. We have CVR I and II buy signals, with a
carryover III. Remember though, even though the background technical evidence
suggests long entries, as daytraders always stay focused on the issues that best
fit the conditions of the day, and increase your percentages from both the long
and short side.
Hottest Sectors (HOLDRs): Software
(
SWH |
Quote |
Chart |
News |
PowerRating)
and Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs):Â Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating) and Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating)
Friday’s HELVETICA>stocks to watch:
High
RS issues
closing in Top of Range.
Stocks are scanned from 3 Month RS of 80 or higher
and TM’s Proprietary and Technology 10 Momentum lists on the Indicators page.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Mercury Interactive | ( MERQ | Quote | Chart | News | PowerRating) | 87 | 36.93 | 3,554,000 | 4,634,000 |
| Abercrombie & Fitch | ( ANF | Quote | Chart | News | PowerRating) | 92 | 27.90 | 1,722,000 | 3,255,000 |
| Avid Technology | ( AVID | Quote | Chart | News | PowerRating) | 87 | 22.79 | 552,000 | 842,000 |
Â
Weak RS issues closing in
Bottom of Range.
Stocks
are scanned from 3 Month RS of 35 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Biogen | ( BGEN | Quote | Chart | News | PowerRating) | 23 | 36.26 | 3,099,000 | 3,199,000 |
| Take-Two Interactive | ( TTWO | Quote | Chart | News | PowerRating) | 8 | 21.45 | 1,870,000 | 1,639,000 |
Â
class=890430920-15102001>
High RS issues with Volume
Surge in last hour.
Stocks are scanned from 3 Month
RS of 80 or higher and TM’s Proprietary and Technology 10 Momentum lists on the
Indicators page.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Varian Semiconductor | ( VSEA | Quote | Chart | News | PowerRating) | 84 | 28.62 | 1,041,000 | 1,303,000 |
Â
Weak RS issues with
Volume Surge in last hour.
Stocks are scanned
from 3 Month RS of 35 or lower and TM’s Implosion and Technology Implosion Lists
on the Indicators page.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Hotels.com | ( ROOM | Quote | Chart | News | PowerRating) | 7 | 44.61 | 1,144,000 | 566,000 |
Stocks in Slim
Jims
High RS Slim Jims.
class=890430920-15102001>Stocks are
scanned from 3 Month RS of 80 or higher and TM’s Proprietary and Technology 10
Momentum lists on the Indicators page.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Emulex | ( ELX | Quote | Chart | News | PowerRating) | 87 | 21.33 | 3,378,000 | 4,248,000 |
| Anglogold | ( AU | Quote | Chart | News | PowerRating) | 83 | 36.61 | 991,000 | 1,818,000 |
| NBTY Inc | ( NBTY | Quote | Chart | News | PowerRating) | 73 | 18.51 | 660,000 | 819,000 |
class=890430920-15102001>
Anglogold is
an example of a potential Shake -n- Bake version of the Slim
Jim.
Â
Weak RS
Slim Jimsclass=890430920-15102001>.
class=890430920-15102001>Stocks
are scanned from 3 Month RS of 35 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Harrah’s Entertainment | ( HET | Quote | Chart | News | PowerRating) | 9 | 36.26 | 1,264,000 | 964,000 |
| Whole Foods Market | ( WFMI | Quote | Chart | News | PowerRating) | 33 | 49 | 889,000 | 781,000 |
class=890430920-15102001>
Harrah’s
Entertainment is an upsloping Slim Jim off lows on the intraday and extended
intraday charts.
class=890430920-15102001>Whole
Foods Market is forming a potential Shake -n- Bake Slim Jim, testing multiday
lows from January 15th.
High RS
Reversal Patterns.
Stocks with 3 Month RS of 80 and / or
Institutional Favorites that are setting up on a closing basis as potential long reversal pattern
candidates. Patterns include 1,2,3s and Slim Jim consolidations. Background
supports in the form of Fibonacci levels, EMAs, and former price supports are
used in the decision making process.
None Today.
class=890430920-15102001>New Category
class=890430920-15102001>Low RS
Reversal Patterns.
Stocks with 3 Month RS of 35 and / or
Institutional Favorites that are setting up on a closing basis as potential
short reversal pattern
candidates. Patterns include 1,2,3s and Slim Jim consolidations. Whenever
possible background evidence of resistance in the form of Fibonacci levels, EMAs, and former price supports are
used in the decision making process.
None Today.
class=890430920-15102001>
Institutional Favorites.
The following stocks are selected from
the Nasdaq, S&P 500 & 600 Indices. These are normally heavily traded,
liquid issues that
are exhibiting strength, pattern (Slim
Jims), or last hour volume surges, indicative of follow through in the very near term. Due to the
institutional participation, which can provide additional follow through not
always found in less active issues, the relative
strength criteria is more subjective, and quite often less stringent in
evaluating an issues near term prospects. Program trading (which affects many of these
issues) can also be viewed as a potential beneficial factor when stocks listed
below are exhibiting price pattern setups on an intraday and / or daily chart
basis.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Yahoo | ( YHOO | Quote | Chart | News | PowerRating) | 77 | 19.08 | 9,655,000 | 8,990,000 |
| eBay | ( EBAY | Quote | Chart | News | PowerRating) | 79 | 75.72 | 5,973,000 | 6,285,000 |
class=890430920-15102001>Institutional
Laggards.
The following stocks are selected from
the NASDAQ, S&P500 & 600 Indices. These are normally, heavier traded issues that
are exhibiting relative weakness, pattern setups (Slim Jims), or last hour
volume surges indicative of follow through in the very near term. Due to the
institutional participation, which can provide additional follow through not
always found in less active issues, the relative
strength criteria is more subjective, and quite often less stringent in
evaluating an issues near term prospects. Program trading (which affects many of these
issues) can also be viewed as a potential beneficial factor when stocks listed
below are exhibiting price pattern setups on an intraday and / or daily chart
basis.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Philip Morris | ( MO | Quote | Chart | News | PowerRating) | 38 | 39.50 | 9,883,000 | 9,958,000 |
| Freddie Mac | ( FRE | Quote | Chart | News | PowerRating) | 39 | 60.88 | 3,010,000 | 5,388,000 |
| Chevrontexaco | ( CVX | Quote | Chart | News | PowerRating) | 16 | 65 | 2,918,000 | 4,087,000 |
Â
Best of luck with your trading Friday. Please use
protective stops on trades.