Here’s Tuesday’s Names
Looking at
all that is transpiring in the world it is no wonder we
are experiencing such see saw 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 |
Quote |
Chart |
News |
PowerRating), and 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 |
Quote |
Chart |
News |
PowerRating)
is moving higher in an ascending symmetrical triangle.
Blockbuster Inc.
(
BBI |
Quote |
Chart |
News |
PowerRating) is forming
an ascending triangle, 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 Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Advance PCS |
ADVP |
95 |
79.19 |
1,307,800 |
2,041,600 |
Stocks
Building A Base With A Minimum Relative Strength of 80.
| Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Public Storage |
PSA |
90 |
34.25 |
261,800 |
65,100 |
| Highwood Properties |
HIW |
95 |
25.96 |
246,300 |
191,200 |
| First Place Financial |
FPFC |
98 |
13.96 |
31,200 |
9,700 |
Stocks forming a Handle
| Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Respironics |
RESP |
94 |
35.22 |
246,800 |
152,600 |
Sectors moving
higher in the session were the GSTI Internet Index
(
$GIN.X |
Quote |
Chart |
News |
PowerRating),
gaining 1.4%.
The
Securities/Broker Dealer Index
(
$XBD.X |
Quote |
Chart |
News |
PowerRating),
tacking on 1.2% and the Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating),
closing up 0.8%.
Lagging in the
session was
the Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating),
which fell 4.2%.
The Oil Services
Sector
(
$OSX.X |
Quote |
Chart |
News |
PowerRating),
slid 3.0% and the Oil Index
(
$XOI.X |
Quote |
Chart |
News |
PowerRating),
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.