Here Are Friday’s Top Stocks
Since our last report the market hasn’t seen a great deal of buying by
investors, but apparently
consumers are finding some good bargains in the retail sector as WalMart, Gap
Stores, and Abercrombie & Fitch, amongst others, came out with some
reassuring numbers and guidance going foward. The DIAs and SPYs extended their
recent ways, down by about half a percentage point, while the QQQs managed to
eke out a small gain for the session.
Technically, we’ve tested, and are
currently sitting at levels that most technicians would consider important
benchmarks. The SPYs and DIAs are flirting with the 62% Fibonacci level, while
the QQQs are lagging, in a good sort of way, at prior price supports and the 50%
mark. “Oh where’s that Joe Battapaglia with his pom poms?” Precarious
to say the least, and the kind of situation where if you decide to take a stand,
one way or the other (best to read Dave Landry and his usual spiel about
oversold markets), you’ll end up with either horns or claws taking a piece of
your hide. Good thing our only concern is whether or not yours truly decides to
delivery the nightly package of High and Low RS issues, so we can always have a
sound foundation for which to base our trade selection (btw, sorry for the last
few days, Bunky, Highlow, Wb, Pop, Sand, Ham, F. Web, Ron F.,…and the list
goes on).Â
Hottest Sectors (HOLDRs):Â Internet
(
HHH |
Quote |
Chart |
News |
PowerRating) and Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs):Â Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating)
and Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)
Thursday’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 |
| Career Education | ( CECO | Quote | Chart | News | PowerRating) | 93 | 27.77 | 1,721,000 | 2,426,000 |
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 |
| Cheesecake Factory | ( CAKE | Quote | Chart | News | PowerRating) | 29 | 30 | 814,000 | 982,000 |
| Autozone | ( AZO | Quote | Chart | News | PowerRating) | 16 | 64 | 1,681,000 | 1,412,000 |
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.
None Today.
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 |
| Overature | ( OVER | Quote | Chart | News | PowerRating) | 24 | 22.38 | 1,784,000 | 1,781,000 |
| Freddie Mac | ( FRE | Quote | Chart | News | PowerRating) | 23 | 54.77 | 3,200,000 | 2,353,000 |
| Krispy Kreme | ( KKD | Quote | Chart | News | PowerRating) | 17 | 28.55 | 779,000 | 597,000 |
| Lincare Holdings | ( LNCR | Quote | Chart | News | PowerRating) | 17 | 27.80 | 1,099,000 | 1,267,000 |
| LifePoint Hospitals | ( LPNT | Quote | Chart | News | PowerRating) | 12 | 22.65 | 768,000 | 1,006,000 |
Stocks in Slim
Jims Â
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.
None Today.
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 |
| Intuit | ( INTU | Quote | Chart | News | PowerRating) | 11 | class=890430920-15102001>41.82 | 3,238,000 | 2,919,000 |
| Philip Morris “You’re not fooling anyone Altria” | ( MO | Quote | Chart | News | PowerRating) | 27 | 37.53 | 9,009,000 | 4,727,000 |
Â
class=890430920-15102001>
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.
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 |
| Best Buy | ( BBY | Quote | Chart | News | PowerRating) | 88 | 26.95 | 4,593,000 | 2,410,000 |
| Symantec | ( SYMC | Quote | Chart | News | PowerRating) | 76 | 46.53 | 3,482,000 | 2,445,000 |
| Macromedia | ( MACR | Quote | Chart | News | PowerRating) | 84 | 13.68 | 761,000 | 659,000 |
| Amazon | ( AMZN | Quote | Chart | News | PowerRating) | 76 | 22.08 | 7,571,000 | 4,033,000 |
Â
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.
class=890430920-15102001>
None Today.
class=890430920-15102001>
Institutional
Favorites
and Institutional
Laggards.
The following stocks are selected from
the Nasdaq, S&P 500 & 600 Indices, and HOLDRs. These are normally heavily traded,
liquid issues that
are exhibiting relative strength or weakness, 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 3 Month RS 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.
Institutional
FavoritesÂ
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 |
| Cognizant Technologies | ( CTSH | Quote | Chart | News | PowerRating) | 35 | 62.41 | 807,000 | 3,702,000 |
| Juniper | ( JNPR | Quote | Chart | News | PowerRating) | 87 | 8.97 | 13,142,000 | 11,274,000 |
| IBM | ( IBM | Quote | Chart | News | PowerRating) | 32 | 77.55 | 8,082,000 | 7,753,000 |
| Qualcomm | ( QCOM | Quote | Chart | News | PowerRating) | 51 | 36.58 | 13,106,000 | 10,287,000 |
class=890430920-15102001>Institutional
Laggards.
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 |
| Cintas | ( CTAS | Quote | Chart | News | PowerRating) | 17 | 40.04 | 1,349,000 | 2,027,000 |
| Deere & Co. | ( DE | Quote | Chart | News | PowerRating) | 27 | 41.06 | 1,423,000 | 1,951,000 |
| Toll Brothers | ( TOL | Quote | Chart | News | PowerRating) | 39 | 19.23 | 707,000 | 1,608,000 |
Â
Best of luck with your trading “Joey
B. ” Please use
protective stops on trades on all Long Market calls.