Here Are Tuesday’s Top Names
After a gap higher
established new multiweek highs in the ETFs, traders reversed the price gains into
small fractional losses before settling into a very choppy session by the second
hour of trade. All said and done, with the lack of real news on the corporate
front, and traders arguably becoming increasingly comfortable with the political
saber rattling, it seems appropriate that the indices finished mixed, but all
very flat in Monday’s session.Â
As stated, the ETFs did see price
gains early on that took them to relative highs. This might be viewed as a
positive, as the absence of news didn’t provoke price declines, and subsequently
our consolidation of recent gains continues. Volume was lighter in today’s
trade, and with many earnings reports due out this week we’ll know quickly which
way the Generals are going to point the troops. With that said, let’s stay
prepared for wherever the markets lead us, by keeping our lists of stocks that
perform best under whatever battle conditions come our way on
Tuesday. Â
Have a good evening.
Hottest Sectors (HOLDRs): Internet
(
HHH |
Quote |
Chart |
News |
PowerRating)
and Biotechs
(
BBH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Oil Services
(
OIH |
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 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| SafeNet | ( SFNT | Quote | Chart | News | PowerRating) | 93 | 31.94 | 304,000 | 538,000 |
Weak RS issues closing in
Bottom of Range.
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 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Autozone | ( AZO | Quote | Chart | News | PowerRating) | 10 | 66.45 | 975,000 | 1,548,000 |
| Cognizant Technology | ( CTSH | Quote | Chart | News | PowerRating) | 22 | 61.98 | 548,000 | 911,000 |
| Electronic Arts | ( ERTS | Quote | Chart | News | PowerRating) | 5 | 49.95 | 5,530,000 | 5,026,000 |
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 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Benchmark Electronics | ( BHE | Quote | Chart | News | PowerRating) | 94 | 35.70 | 382,000 | 572,000 |
Â
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 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| InterMune | ( ITMN | Quote | Chart | News | PowerRating) | 4 | 21.90 | 1,001,000 | 1,111,000 |
| Hotels.com | ( ROOM | Quote | Chart | News | PowerRating) | 22 | 47.47 | 1,086,000 | 1,722,000 |
| Scholastic | ( SCHL | Quote | Chart | News | PowerRating) | 5 | 34.09 | 462,000 | 859,000 |
| Charles River Labs | ( CRL | Quote | Chart | News | PowerRating) | 5 | 32.01 | 513,000 | 1,941,000 |
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 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Valero | ( VLO | Quote | Chart | News | PowerRating) | 82 | 38.85 | 1,382,000 | 1,213,000 |
Weak RS
Slim Jimsclass=890430920-15102001>.
class=890430920-15102001>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 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Cheesecake Factory | ( CAKE | Quote | Chart | News | PowerRating) | 34 | 32.39 | 683,000 | 1,580,000 |
| WalMart | ( WMT | Quote | Chart | News | PowerRating) | 22 | 51.28 | 8.372,000 | 6,928,000 |
class=890430920-15102001>New Category
High RS
Reversal Patterns.
Stocks with 3 Month RS of 80 or higher
that are setting up on a closing basis as potential reversal pattern
candidates.
None Today.
class=890430920-15102001>New Category
Institutional Favorites.
The following stocks are selected from
the Nasdaq, S&P 500 & 600 Indices. These are normally heavily traded,
liquid issues that
are exhibiting strength, pattern (Slim
Jims), or last hour volume surges, indicative of follow through in the very near term. Due to the
institutional participation, which can provide additional follow through not
always found in less active issues, the relative
strength criteria is more subjective, and quite often less stringent in
evaluating an issues near term prospects. Program trading (which affects many of these
issues) can also be viewed as a potential beneficial factor when stocks listed
below are exhibiting price pattern setups on an intraday and / or daily chart
basis.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Banc of America | ( BAC | Quote | Chart | News | PowerRating) | 66 | 72.38 | 5,079,000 | 6,232,000 |
| Amazon | ( AMZN | Quote | Chart | News | PowerRating) | 55 | 22.05 | 8,615,000 | 7,131,000 |
| Chiron | ( CHIR | Quote | Chart | News | PowerRating) | 35 | 40.58 | 1,799,000 | 2,187,000 |
| Intuit | ( INTU | Quote | Chart | News | PowerRating) | 52 | 50.62 | 3,192,000 | 1,935,000 |
class=890430920-15102001>Institutional
Laggards.
The following stocks are selected from
the NASDAQ, S&P500 & 600 Indices. These are heavily traded issues that
are exhibiting relative weakness, pattern setups (Slim Jims), or last hour
volume surges indicative of follow through in the very near term. Due to the
institutional participation, which can provide additional follow through not
always found in less active issues, the relative
strength criteria is more subjective, and quite often less stringent in
evaluating an issues near term prospects. Program trading (which affects many of these
issues) can also be viewed as a potential beneficial factor when stocks listed
below are exhibiting price pattern setups on an intraday and / or daily chart
basis.
size=2 Helvetica>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2 Helvetica>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Dell Computers | ( DELL | Quote | Chart | News | PowerRating) | 48 | 26 | 23,488,000 | 57,728,000 |
| Cardinal Health | ( CAH | Quote | Chart | News | PowerRating) | 23 | 60.63 | 3,006,000 | 2,860,000 |
| Northrop Grumman | ( NOC | Quote | Chart | News | PowerRating) | 11 | 98.05 | 1,999,000 | 1,277,000 |
Â
Best of luck with your trading Tuesday. Please use
protective stops on trades.