Here Are Monday’s Top Names…
Today’s session goes to show that
a market is able to fall on its own weight
and that light volume can still inflict worrisome
percentage losses. Institutional
heavyweights JP Morgan and Deutsche Bank were looming over the market with
downgrades of the semiconductor sector. This added fuel to a market already
feeling a bit uneasy due to investor concerns over rising commodity prices, a
weakening dollar and the usual geopolitical concerns that seem to receive
special attention before weekends, as nervous money heads to the sidelines.
Technically, the ETFs all finished at their
worst levels of the week, but on decidedly light volume. This, and the
fact that the averages continue to hold their uptrends off the October lows are
the bulls’ only consolation at this time. Judging by today’s closing prices,
momentum, with or without the support of volume, looks to be pointing south as
we head into Monday’s session. As daytraders of course, our concern is to be
prepared to trade, whether the market is up or down. Our best resource in making
money consistently is within ourselves. A good starting place to find potential
setups that are exhibiting a trading edge is right here each and every night.
Have a good weekend.
Hottest Sectors (HOLDRs):
Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating) and Utilities
(
UTH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating)
and Software
(
SWH |
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.
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 |
| Emulex | ( ELX | Quote | Chart | News | PowerRating) | 93 | 19.86 | 4,000,000 | 2,367,000 |
| Expeditors Int’l. | ( EXPD | Quote | Chart | News | PowerRating) | 80 | 34.10 | 577,000 | 1,101,000 |
| Storage Technology | ( STK | Quote | Chart | News | PowerRating) | 94 | 21.11 | 788,000 | 714,000 |
| Fastenal | ( FAST | Quote | Chart | News | PowerRating) | 77 | 37.92 | 663,000 | 999,000 |
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
SPX
Corp
(
SPW |
Quote |
Chart |
News |
PowerRating)
9
37.18
1,380,000
6,230,000
Regis
Corp
(
RGIS |
Quote |
Chart |
News |
PowerRating)
13
24.87
431,000
660,000
Beckman
Coulter
(
BEC |
Quote |
Chart |
News |
PowerRating)
19
29.45
970,000
1,104,000
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 |
| Teva Pharmaceuticals | ( TEVA | Quote | Chart | News | PowerRating) | 98 | 38.81 | 3,600,000 | 1,075,000 |
| Cree | ( CREE | Quote | Chart | News | PowerRating) | 84 | 19.14 | 3,170,000 | 1,815,000 |
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.
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 |
| Cerner Corp | ( CERN | Quote | Chart | News | PowerRating) | 20 | 28.19 | 783,000 | 2,479,000 |
| Deluxe | ( DLX | Quote | Chart | News | PowerRating) | 20 | 41 | 398,000 | 471,500 |
| Nucor | ( NUE | Quote | Chart | News | PowerRating) | 19 | 42,61 | 734,000 | 652,000 |
Stocks in Slim
Jims
High RS at or near high.
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>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 |
| Pixar | ( PIXR | Quote | Chart | News | PowerRating) | 82 | 60.18 | 459,000 | 746,000 |
| Panera Breads | ( PNRA | Quote | Chart | News | PowerRating) | 88 | 36.61 | 672,000 | 345,000 |
| AngloGold | ( AU | Quote | Chart | News | PowerRating) | 82 | 33.99 | 657,000 | 2,105,000 |
Weak RS issues near lows.
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 |
| Ryland | ( RYL | Quote | Chart | News | PowerRating) | 15 | 33.63 | 829,000 | 880,500 |
| DaimlerChrysler | ( DCX | Quote | Chart | News | PowerRating) | 13 | 31.67 | 679,000 | 808,000 |
| InVision | ( INVN | Quote | Chart | News | PowerRating) | 6 | 22.97 | 895,000 | 1,132,000 |
| Northrop Grumman | ( NOC | Quote | Chart | News | PowerRating) | 13 | 91.23 | 2,440,000 | 2,234,000 |
Best of luck with your trading Monday. Please use
protective stops on trades.