Mixed Bag
Note: Greg Che is on vacation this
week. In his absence, this commentary is being written by Brice
Wightman.
With the major indices trading in
relatively narrow ranges today, it was a bit of a yawner–welcome to
summer. I thought we might re-visit two stocks Greg talked about last
week, and take a look at three new ones.
First, Register.com, with a 91 EPR, is
waking up from a ten-month base, on increasing volume.
Qlogic, which Greg mentioned last week,
has broken down after a fake-out rally, which was still good for a 2
1/2
point move. QLGC has an TradingMarkets EPR of 76.
Another stock Greg mentioned, Biomet,
has broken down below its channel and 50-day moving average.
Americredit (ACF) is forming a
high-level cup and handle. Americredit has a TradingMarkets.com EPR of
79.
Universal Health Services (UHS) is
challenging seven month highs at this level.
The Biotech HOLDRs look weak.
Overall, a mixed bag.
See you tomorrow.
Brice