Here Are Monday’s Names

The ETFs all closed strong
after a string of losing sessions took the averages down to key technical levels
of support in yesterday’s trade.

Today’s upward momentum from the opening bell off of these price supports was
also fueled by a bit of an oversold condition and general market sentiment,
which measured by the volatility index
(
$VIX |
Quote |
Chart |
News |
PowerRating)
, was showing signs of investor
stress. A settlement between Wall Street dealers and Federal regulators, a void
of news regarding the Iraqi situation, and no bombs from US companies, in
the form of negative earnings and/or guidance all contributed to today’s
rally.

Volume was the strongest that the markets have
seen in over three weeks, but since it was a quadruple witching expiration
(single stock futures included…ho ho ho, I mean ha ha ha) it’s difficult to
get too excited about this figure. As mentioned, the VIX was helpful as a
secondary indicator, but somewhat troubling is the VXN. It’s at its lowest
levels in over two weeks while the Nasdaq is currently underperforming the other
averages. Is it a leading indicator? It would be nice from an investor’s
standpoint, as it would suggest higher prices if the trend can continue, but
from a daytrading point of view it’s another sign to stay on my toes.

This tells
me to keep my lists ready, stay prepared to trade both sides of the market, and
let CNBC (snicker) tell us whether we put in a bottom or not. Momentum going into Monday’s session suggests leaning towards the long side, but our best bet,
especially in light of the mixed signals is to be prepared by continuously doing
our homework, and establishing our own holy grail for trading.

Have a good
weekend.

Hottest Sectors (HOLDRs): Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating)
and Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)


Weakest Sectors (HOLDRs): Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)

and Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating)


Monday’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.




class=890430920-15102001>







class=890430920-15102001>







class=890430920-15102001>







class=890430920-15102001>







class=890430920-15102001>






size=2>Name

class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength
class=890430920-15102001> size=2>Price class=890430920-15102001>Average
Volume
class=890430920-15102001>Today’s
Volume
Dentsply
(
XRAY |
Quote |
Chart |
News |
PowerRating)
61 38 1,150,000 4,055,000
Varian
(
VAR |
Quote |
Chart |
News |
PowerRating)
81 50.38 538,000 638,900
Boston
Scientific

(
BSX |
Quote |
Chart |
News |
PowerRating)
91 44.19 2,000,000 2,062,000
Websense
(
WBSN |
Quote |
Chart |
News |
PowerRating)
89 22.12 850,000 998,900


Weak RS issues closing in
Bottom of Range.

Stocks
are scanned from 3 Month RS of 20 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.

class=890430920-15102001>

























size=2>Name

class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength
class=890430920-15102001> size=2>Price class=890430920-15102001>Average
Volume
class=890430920-15102001>Today’s
Volume
Triad
Hospitals

(
TRI |
Quote |
Chart |
News |
PowerRating)
20 29.90 1,212,000 738,000
Tech
Data Corp

(
TECD |
Quote |
Chart |
News |
PowerRating)
24 27.72 1,151,000 470,600


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>Name

class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength
class=890430920-15102001> size=2>Price class=890430920-15102001>Average
Volume
class=890430920-15102001>Today’s
Volume
Avid
Technology

(
AVID |
Quote |
Chart |
News |
PowerRating)
97 22.03 424,000 1,460,000
Diebold
(
DBD |
Quote |
Chart |
News |
PowerRating)
67 40.79 321,000 508,800
IGEN
Int’l.

(
IGEN |
Quote |
Chart |
News |
PowerRating)
89 41.96 253,000 367,,400
XTO
Energy

(
XTO |
Quote |
Chart |
News |
PowerRating)
85 26.08 921,000 1,398,000


Weak RS issues with
Volume Surge in last hour.

Stocks are scanned
from 3 Month RS of 20 or lower and TM’s Implosion and Technology Implosion Lists
on the Indicators page.




class=890430920-15102001>







class=890430920-15102001>







class=890430920-15102001>







class=890430920-15102001>







size=2>Name

class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength
class=890430920-15102001> size=2>Price class=890430920-15102001>Average
Volume
class=890430920-15102001>Today’s
Volume
Inter-Tel
Corp

(
INTL |
Quote |
Chart |
News |
PowerRating)
27 21.08 385,000 465,000
CDW
Computers

(
CDWC |
Quote |
Chart |
News |
PowerRating)
29 44.09 2,096,000 1,739,000
Tenet
Healthcare

(
THC |
Quote |
Chart |
News |
PowerRating)
3 15.35 14,761,000 26,622,000

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.




class=890430920-15102001>







class=890430920-15102001>







size=2>Name

class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength
class=890430920-15102001> size=2>Price class=890430920-15102001>Average
Volume
class=890430920-15102001>Today’s
Volume
Pulte
Homes

(
PHM |
Quote |
Chart |
News |
PowerRating)
76 49.70 643,000 692,000





Weak RS
Slim Jimsclass=890430920-15102001>.

class=890430920-15102001>Stocks
are scanned from 3 Month RS of 20 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.

































size=2>Name

class=890430920-15102001>Symbol
class=890430920-15102001>Relative
Strength
class=890430920-15102001> size=2>Price class=890430920-15102001>Average
Volume
class=890430920-15102001>Today’s
Volume
**Hutchinson
(
HTCH |
Quote |
Chart |
News |
PowerRating)
65 21.29 482,000 434,000
**Krispy
Kreme

(
KKD |
Quote |
Chart |
News |
PowerRating)
29 33 676,000 1,420,000
Biovail
(
BVF |
Quote |
Chart |
News |
PowerRating)
19 25.49 1,093,000 1,326,000

**Explanation: Hutchinson is
forming an extended countertrend Slim Jim. Krispy Kreme is showing a day-long
Slim Jim after a prolonged downtrend from earlier this week.


Best of luck with your trading Monday. Please use
protective stops on trades.