Here Are Thursday’s Top Names
The ETFs finished mixed
once again in Tuesday’s session. The SPYs
and DIAs managed to hold onto positive ground for the session, a feat not
matched on a yearly basis for three years as
we say goodbye to 2002. Consumer Confidence was the highlight of the day for
those who haven’t been to the shopping malls this holiday season (duh), and
trading volume was once again best described by the words tepid (another duh). A
few spikes in activity during the day, as one might expect as we wrap up the
year, but all in all, the action was best described by a lack of buyers and
sellers.
The Consumer Confidence report was good for some
quick intraday volatility plays as the ETFs retested prior lows and reversed to
close off of key price supports. We have breached significant levels on an
intraday basis in both the SPYs and DIAs, while the QQQs, which closed slightly
off today, have held their November pivot lows. This level is also reinforced by
the 50% Fibonacci retracement level from the October lows.
Normally, the bias
off of these levels would be for long entries on a swing basis, but the lack of
participation (volume), and a neutral bias with the CVR signals say one thing to
me at the moment. Stay nimble. The mantra of the daytrader is more important
than ever. The daily charts continue to exhibit a great deal of chop, but if you
keep ready to trade from both sides of the market, with your levels, lists, and
an open mind, intraday opportunities such as today’s early extended 1,2,3 in
the ETFs are still there for the taking.
Have a great holiday.
Hottest Sectors (HOLDRs): Internet
(
HHH |
Quote |
Chart |
News |
PowerRating) and Oil Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Semiconductor
(
SMH |
Quote |
Chart |
News |
PowerRating)
and Biotech
(
BBH |
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>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 |
| Halliburton | ( HAL | Quote | Chart | News | PowerRating) | 81 | 18.64 | 5,043,000 | 2,974,000 |
| SafeNet | ( SFNT | Quote | Chart | News | PowerRating) | 89 | 25.35 | 285,000 | 230,000 |
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.
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 |
| Electronic Arts | ( ERTS | Quote | Chart | News | PowerRating) | 7 | 49.65 | 5,939,000 | 3,951,000 |
| Ryland | ( RYL | Quote | Chart | News | PowerRating) | 26 | 33.36 | 739,000 | 446,000 |
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 |
| Cognos | ( COGN | Quote | Chart | News | PowerRating) | 92 | 23.33 | 622,000 | 1,065,000 |
| Teva Pharmaceutical | ( TEVA | Quote | Chart | News | PowerRating) | 99 | 38.60 | 3,789,000 | 2,093,000 |
| CBRL Group | ( CBRL | Quote | Chart | News | PowerRating) | 85 | 30.13 | 604,000 | 892,000 |
| Martek Biosciences | ( MATK | Quote | Chart | News | PowerRating) | 94 | 25.16 | 263,000 | 331,000 |
Weak RS issues with
Volume Surge in last hour.
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 |
| Express Scripts | ( ESRX | Quote | Chart | News | PowerRating) | 18 | 48.02 | 1,717,000 | 937,000 |
| Take Two Interactive | ( TTWO | Quote | Chart | News | PowerRating) | 14 | 23.49 | 2,094,000 | 1,185,000 |
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 |
| **Hewlett Packard | ( HPQ | Quote | Chart | News | PowerRating) | 88 | 17.34 | 13,692,000 | 6,345,000 |
class=890430920-15102001>
**Hewlett
Packard is an extended low level Slim Jim reversal play on a High RS stock.
Proper entry would be a breakout above current resistance (view 15 minute
extended).
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.
None Today.
Best of luck with your trading Thursday. Please use
protective stops on trades.