Here Are Monday’s Top Names
A solid trend day lower has
the ETFs testing the legs on which the bull stands. With
a day in which light volume prevailed once again, those that did decide to
participate did so at markedly lower prices. No specific news catalyst for
today’s distribution, except that Santa’s best efforts to give Wall Street a
Merry Christmas was obviously as much fiction as the fat guy himself. With the
lack of news, and all the usual geopolitical
tensions and related concerns over escalating prices in oil that receive special
attention in investment decisions before a weekend, the market was
able to fall very methodically on its own weight.
Technically, we are at critical levels that
define the uptrend off the October lows. As mentioned, volume was light, but
today was nonetheless a day of distribution. Will the Generals ever be back? Of
course, and the participation will be a welcome addition, but even in a tough
environment, keeping your faith in a well-structured trading plan, rather than the
next bit of market yore (can you say January effect?), will prepare you to
trade in the reality that is. We are currently at price supports after today’s
session, but as daytraders we have the luxury, if we prepare each and every
night, to trade the best stocks for the occasion. Keep your lists of low
relative strength stocks for continuation plays, and have your list of high
relative strength issues — from which reversal plays should be best rewarded.Â
Have
a good weekend.
Hottest Sectors (HOLDRs): Utilities
(
UTH |
Quote |
Chart |
News |
PowerRating) and Retail
(
RTH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Biotech
(
BBH |
Quote |
Chart |
News |
PowerRating) and
Internet
(
HHH |
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 |
| Covance | ( CVD | Quote | Chart | News | PowerRating) | 84 | 24.63 | 409,000 | 431,700 |
| Gtech Holdings | ( GTK | Quote | Chart | News | PowerRating) | 88 | 29.12 | 618,000 | 261,000 |
| Garmin Ltd. | ( GRMN | Quote | Chart | News | PowerRating) | 94 | 29.75 | 385,000 | 194,600 |
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 |
| Hotels.com | ( ROOM | Quote | Chart | News | PowerRating) | 34 | 53.15 | 847,000 | 843,000 |
| Ross Stores | ( ROST | Quote | Chart | News | PowerRating) | 42 | 40.98 | 1,150,000 | 495,000 |
| Cardinal Health | ( CAH | Quote | Chart | News | PowerRating) | 23 | 57.97 | 3,212,000 | 1,057,000 |
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.
None Today.
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 |
| Biovail | ( BVF | Quote | Chart | News | PowerRating) | 22 | 25.75 | 427,000 | 805,000 |
| CDW Computer | ( CDWC | Quote | Chart | News | PowerRating) | 21 | 41.91 | 1,641,000 | 1,377,000 |
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>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 |
| Royal Gold | ( RGLD | Quote | Chart | News | PowerRating) | 95 | 26.08 | 446,000 | 869,000 |
| **Verint Systems | ( VRNT | Quote | Chart | News | PowerRating) | 98 | 21.10 | 226,000 | 380,000 |
**Verint Systems is an extended Slim Jim.
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 |
| Goldman Sachs | ( GS | Quote | Chart | News | PowerRating) | 27 | 67.80 | 4,115,000 | 2,594,000 |
| Daimlerchrysler | ( DCX | Quote | Chart | News | PowerRating) | 11 | 29.88 | 625,000 | 391,000 |
| Chubb Group | ( CB | Quote | Chart | News | PowerRating) | 20 | 52.33 | 1,713,000 | 661,000 |
| Scholastic | ( SCHL | Quote | Chart | News | PowerRating) | 8 | 34.80 | 283,000 | 368,800 |
Best of luck with your trading Monday. Please use
protective stops on trades.