Here Are Wednesday’s Top Names…
The market was
“focused” on Target
(
TGT |
Quote |
Chart |
News |
PowerRating), and unfortunately the retailer was
clearly off the mark as same-store comps came in below expectations. Investors
also had a “beef” with McDonalds as the company once again guided
lower for the eighth time. This was enough fodder for the bulls, along with the
usual rehashing of a weak dollar and rising oil prices, to retreat from center
stage and let the bears squeeze the market for the day.
Today’s action had the SPYs and DIAs giving
back a good size bite of what they consumed yesterday, as both ended the session
down about a percentage point. On the other hand, the QQQs were able to maintain
their composure to end the day essentially unchanged. The news that did come out
of technology, mostly centering on reaffirmations of estimates, seemed enough to quell investors’ appetites for punishing tech as much as
the other indices. Volume was once again light, and with the ETFs still
technically consolidating within a pullback from highs, the action is cautiously
bullish. But, and I know I can sound like a broken record, this market needs
some stabilization in the form of institutional buying before we can feel more
comfortable with the longer-term outlook.
Since the focus here is on daytrading equities
though, all we need to do is plan properly for whatever the market throws our
way, and be as well prepared as possible. There’s no Christmas wish
list here, just our nightly list, that hopefully makes doing your homework a
little bit easier, especially around the holidays.
Hottest Sectors (HOLDRs):
Biotech
(
BBH |
Quote |
Chart |
News |
PowerRating) and Utilities
(
UTH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Retail
(
RTH |
Quote |
Chart |
News |
PowerRating) and Oil
Services
(
OIH |
Quote |
Chart |
News |
PowerRating)
Wednesday’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 |
| Teva Pharmaceuticals | ( TEVA | Quote | Chart | News | PowerRating) | 99 | 39.35 | 3,664,000 | 2,100,000 |
| SanDisk | ( SNDK | Quote | Chart | News | PowerRating) | 85 | 23.15 | 2,627,000 | 4,252,000 |
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
Sharper
Image
(
SHRP |
Quote |
Chart |
News |
PowerRating)
17
16.11
342,000
608,000
General
Dynamics
(
GD |
Quote |
Chart |
News |
PowerRating)
26
77.56
1,910,000
1,135,000
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 |
| Lexmark | ( LXK | Quote | Chart | News | PowerRating) | 80 | 63.34 | 1,793,000 | 1,535,000 |
| Monsanto | ( MON | Quote | Chart | News | PowerRating) | 84 | 20.23 | 1,627,000 | 1,956,000 |
| Storage Tech | ( STK | Quote | Chart | News | PowerRating) | 93 | 22.46 | 789,000 | 746,800 |
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 |
| Nike | ( NKE | Quote | Chart | News | PowerRating) | 36 | 42.70 | 1,260,000 | 2,233,000 |
| Sharper Image | ( SHRP | Quote | Chart | News | PowerRating) | 10 | 16.91 | 349,000 | 585,000 |
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 |
| Black Box | ( BBOX | Quote | Chart | News | PowerRating) | 83 | 45.98 | 394,000 | 235,000 |
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 |
| L-3 Communications | ( LLL | Quote | Chart | News | PowerRating) | 9 | 41.16 | 1,803,000 | 2,435,000 |
| Moody’s | ( MCO | Quote | Chart | News | PowerRating) | 15 | 41.28 | 866,000 | 804,900 |
| Henry Schein | ( HSIC | Quote | Chart | News | PowerRating) | 12 | 44.43 | 642,000 | 383,000 |
Best of luck with your trading Wednesday. Please use
protective stops on trades.