Here Are Monday’s Top Names
The ETFs managed to stand firm in
Friday’s session
after a celebratory New Year’s rally from Thursday’s
trade had the potential to cause a serious hangover.
The QQQs squeezed out a percentage point gain on the session while the DIAs and
SPYs held onto yesterday’s 3% gains, closing near day highs with fractional
gains. Volume and volatility were light and tight on this “last”
official day of the holiday season, but as always, there were some individual
standouts.
Home Depot
(
HD |
Quote |
Chart |
News |
PowerRating) was the big news of the day as it came out in the
pre-market with an earnings warning, affecting the stock prices of suppliers and
competitors alike in the retail space. Investors came out of the
"woodwork" to sell the issue, “nailing” the stock and
related issues in the process. Rising energy and gold prices were also notable
on the day, as the latter notched a 52 Week High. All things considered, the
market was resilient in the face of potentially heavy (Home Depot)
news weighing (gold) in on the market. Monday will mark the return
of trading desks to normal capacity, and the official start to a new year of
trading.
With the ETFs digesting yesterday’s sizable gains
in the form of narrow trading ranges for the better part of the session, there is
not a whole lot to add at the moment. Monday should bring back some
normalcy to the trading environment, as participation should pick
up. Price supports as previously mentioned have held, but more important in
gauging the market’s intentions will be volume in the next couple of sessions.
Apparently, there was some strong institutional participation yesterday (read Kevin
Haggerty’s Friday article). The ETFs are very close to technical pivot
highs, so if the Generals are really interested, it will be easy enough to
discern. Without their support, entries will favor the short side and we’ll have
better levels to initiate than from those just two days ago. As always, stay
prepared with your lists of strong and weak relative strength stocks, especially
now that school looks to be back in session.
Have a good weekend.
Hottest Sectors (HOLDRs): Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating) and Software
(
SWH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Retail
(
RTH |
Quote |
Chart |
News |
PowerRating) and Oil
Services
(
OIH |
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 |
| Hyperion Solutions | ( HYSL | Quote | Chart | News | PowerRating) | 86 | 27.83 | 505,000 | 486,000 |
| Storage Technology | ( STK | Quote | Chart | News | PowerRating) | 95 | 23.58 | 780,000 | 1,099,000 |
| Verizon | ( VZ | Quote | Chart | News | PowerRating) | 85 | 40.45 | 7,141,000 | 5,114,00 |
| Cymer, Inc | ( CYMI | Quote | Chart | News | PowerRating) | 94 | 35.80 | 1,943,000 | 1,929,000 |
Weak RS issues closing in
Bottom of Range.
Stocks
are scanned from 3 Month RS of 30 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 |
| Take-Two Interactive | ( TTWO | Quote | Chart | News | PowerRating) | 6 | 22.67 | 1,984,000 | 1,832,000 |
| Ryland | ( RYL | Quote | Chart | News | PowerRating) | 19 | 35.27 | 705,000 | 548,000 |
| Costco | ( COST | Quote | Chart | News | PowerRating) | 16 | 28.20 | 5,984,000 | 3,375,000 |
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>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 | 23.70 | 517,000 | 270,000 |
| SBC Communications | ( SBC | Quote | Chart | News | PowerRating) | 86 | 28.93 | 7,591,000 | 5,985,000 |
| **Ebay | ( EBAY | Quote | Chart | News | PowerRating) | 77 | 69.99 | 5,431,000 | 5,107,000 |
| Expedia | ( EXPE | Quote | Chart | News | PowerRating) | 88 | 70.85 | 2,428,000 | 1,405,000 |
**Ebay with a 3Month
RS of 77(under threshold) is being put in tonight’s list under this category, as
new categories are currently in the works to include some of the larger-cap
stocks that have solid short-term prospects which might otherwise go
unnoticed.
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>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 |
| Silicon Labs | ( SLAB | Quote | Chart | News | PowerRating) | 33 | 19.73 | 1,394,000 | 839,000 |
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 |
| **Ticketmaster | ( TMCS | Quote | Chart | News | PowerRating) | 80 | 22.62 | 730,000 | 292,000 |
class=890430920-15102001>
**Ticketmaster is
an example of a downsloping extended intraday 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 |
| Home Depot | ( HD | Quote | Chart | News | PowerRating) | 8 | 21.37 | 15,720,000 | 65,000,000 |
| Payless | ( PSS | Quote | Chart | News | PowerRating) | 20 | 50.34 | 255,000 | 558,000 |
| Autozone | ( AZO | Quote | Chart | News | PowerRating) | 14 | 73.05 | 1,305,000 | 1,105,000 |
| Kohls | ( KSS | Quote | Chart | News | PowerRating) | 16 | 56.42 | 3,507,000 | 3,472,000 |
Best of luck with your trading Monday. Please use
protective stops on trades.