Here’s What’s Acting Well In This Illiquid Environment

  • August 14, 2003
  • Tim Truebenbach

The
major averages pushed higher, but volume came in
lighter than yesterday.  For the most part, trading desks are empty and
institutional dollars are not moving around a whole lot as we approach the end
of the summer.


image src=”https://tradingmarkets.com/media/2003/Tim/tt081403-01.gif”
width=”418″ height=”348″ />


image src=”https://tradingmarkets.com/media/2003/Tim/tt081403-02.gif”
width=”418″ height=”348″ />


Boston Scientific
(
BSX |
Quote |
Chart |
News |
PowerRating) is the standout
poor-performer in the growth, breakout arena. The stock took a nice hit below
its pivot of 64.81 and has yet to recover.


image src=”https://tradingmarkets.com/media/2003/Tim/tt081403-03.gif”
width=”418″ height=”348″ />

For the most part, breakouts
have acted very well in this illiquid environment. E
Speed
(
ESPD |
Quote |
Chart |
News |
PowerRating) has continued higher for two straight days,
although volume came in lighter on Thursday’s follow-through session. We also
saw the company report poor earnings growth of only 15% for the most recent
quarter and -10% growth for the quarter in sales. 


image src=”https://tradingmarkets.com/media/2003/Tim/tt081503-04.gif”
width=”418″ height=”348″ />


Krispy
Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating)
ripped higher on above-average volume.  The stock surpassed its pivot point of
45.87.


image src=”https://tradingmarkets.com/media/2003/Tim/tt081403-05.gif”
width=”418″ height=”348″ />

We continue to await a solid
confirmation from the market, and it may not come until institutions get back
on their trading desks.

Have a great weekend!


Tim Truebenbach