Here Are Tuesday’s Names
Looking
at all that is transpiring in the world,
it
is no wonder we are
experiencing such seesaw moves in the markets. As we
updated our timing composites this
weekend, we knew what to
expect…no change of course. The composite we
are using looks at the indices,
as well as the advancers and decliners. Although the point count has
risen, breadth on the composite is still lagging.
Also, looking at the
technical models, not all are flashing green except for one,
which uses the CBOE Volatility Index ($VIX.X).
For
those who went to Tradingmarkets2001, we
told you that we would only use
this as a gauge in combination with other timing indicators,
especially on an intermediate–term
basis.
D.K Healthcare Resources (DKWD)
is moving higher in an ascending symmetrical triangle.
Blockbuster Inc. (BBI)
is forming an ascending triangle,
and
volatility is drying up (as we can see in price),
which could be related to the fact that the company is scheduled to
report earnings on Oct.
24.
Here are some stocks that you should include on your
watchlist.
Stocks
Breaking out on High Volume with a Relative Strength of 80 or Better:
|
Company |
Symbol |
Relative |
Price |
Average |
Today’s |
|
Advance |
ADVP |
95 |
79.19 |
1,307,800 |
2,041,600 |
Stocks
Building A Base With A Minimum Relative Strength of 80.
|
Company |
Symbol |
Relative |
Price |
Average |
Today’s |
|
Public |
PSA |
90 |
34.25 |
261,800 |
65,100 |
|
Highwood |
HIW |
95 |
25.96 |
246,300 |
191,200 |
|
First |
FPFC |
98 |
13.96 |
31,200 |
9,700 |
Stocks forming a Handle
|
Company |
Symbol |
Relative |
Price |
Average |
Today’s |
|
Respironics |
RESP |
94 |
35.22 |
246,800 |
152,600 |
Sectors
moving higher in the session were the GSTI Internet Index ($GIN.X),
gaining 1.4%.
The
Securities/Broker Dealer Index ($XBD.X),
tacking on 1.2% and the Airline Index ($XAL.X),
closing up 0.8%.
Lagging in
the session was
the Semiconductor Index ($SOX.X),
which fell 4.2%.
The Oil
Services Sector ($OSX.X),
slid 3.0% and the Oil Index ($XOI.X),
lost
2.1%
Remember that all securities
are risky. In any trade, you should always reduce your risk by
adjusting position size and placing open protective stops where
you will sell your long or cover your short in case the market turns
against you. For an introduction to combining price stops with
position sizing, see Loren’s lesson, Risky
Business.