Here Are Tuesday’s Top Names…
It looks like the retailers
aren’t the only ones who know how to discount around the holidays. Wall
Street slashed prices across the board in the retail space as some heavyweights
in the sector, Wal-Mart
(
WMT |
Quote |
Chart |
News |
PowerRating) and Federated
(
FD |
Quote |
Chart |
News |
PowerRating) both came out with
disappointing sales trends, as the typically robust holiday season is coming to
a close.
The ETFs ended mixed on Monday. The DIAs and SPYs finished on both
sides of the unchanged mark, producing very little in percentage terms either
way. The QQQs on the other hand did manage to show a percentage gain on the day.
On strength within the semis, biotech and software sectors, the Nasdaq
finished the day up over 1.35%.
Volume was
the weakest that Wall Street has seen since last month’s Turkey season. The song remains the same as far as the technical picture is concerned.
This means that supports are still holding after a two-week sell off, but volume
has not shown any real institutional interest on the buy side, so the bias is
neutral until the money trail shows up again.
I know some of you might have been
wishing for a “Here comes Santa Claus…” as far as the song was
concerned, but so far the long-awaited Christmas rally is producing more of a “ha
ha ha” than a “ho, ho, ho.” Tomorrow is an abbreviated session thanks to our friends at the NYSE. If today is any indication Tuesday should
be very light trade. As daytraders who thrive on liquidity and momentum, it will
be especially important to keep to your trading rules and making sure you have
your list of those stocks who have been naughty or nice close at hand.
Have a good night.
Hottest Sectors (HOLDRs): Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating) and Software
(
SWH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDR’s): Retail
(
RTH |
Quote |
Chart |
News |
PowerRating) and
Utilities
(
UTH |
Quote |
Chart |
News |
PowerRating)
Tuesday’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 |
| IGEN Int’l. | ( IGEN | Quote | Chart | News | PowerRating) | 90 | 44.42 | 256,000 | 523,000 |
| Garmin Ltd. | ( GRMN | Quote | Chart | News | PowerRating) | 94 | 30.28 | 361,000 | 916,000 |
| Royal Gold | ( RGLD | Quote | Chart | News | PowerRating) | 91 | 426,000 | 426,000 | 852,000 |
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) | 7 | 36.50 | 1,548,000 | 914,500 |
| Ryland | ( RYL | Quote | Chart | News | PowerRating) | 22 | 34.92 | 776,000 | 271,200 |
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) | 98 | 23.01 | 454,000 | 1,219,000 |
| Newmont Mining | ( NEM | Quote | Chart | News | PowerRating) | 81 | 29.60 | 4,595,000 | 3,186,000 |
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 |
| CDW Computers | ( CDWC | Quote | Chart | News | PowerRating) | 26 | 43.09 | 2,102,000 | 1,600,000 |
| Progressive | ( PGR | Quote | Chart | News | PowerRating) | 23 | 49.87 | 598,000 | 830,100 |
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 |
| Agilent | ( A | Quote | Chart | News | PowerRating) | 82 | 18.54 | 2,693,000 | 3,042,000 |
| Halliburton | ( HAL | Quote | Chart | News | PowerRating) | 87 | 19.29 | 5,082,000 | 3,751,000 |
| Fastenal | ( FAST | Quote | Chart | News | PowerRating) | 83 | 39.10 | 751,000 | 1,295,000 |
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 |
| Moody’s | ( MCO | Quote | Chart | News | PowerRating) | 19 | 41.85 | 841,000 | 1,013,000 |
Best of luck with your trading Tuesday. Please use
protective stops on trades.