Monday’s Hit List
The indices mounted
another late-day rally to end the session in the green Friday, the seventh
upper-range close in the last eight sessions. In spite of the bullish strong
closes, trading remains choppy and news driven with many earnings reports coming
out next week. So while the bias remains bullish as the market has not taken a
nose dive, volatility has been a benefit to the daytrader in both directions –
continue to play it both ways.
Biotech issues, retail
and computer technology were Friday’s leaders, with insurance and transports
giving up ground.
Monday’s stocks to
watch:
3
Month RS of 90 and higher and Close in Top of Range
|
Name
|
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| Advanced Fibre Communications |
(AFCI) | 93 | 21.98 | 2,523,627 | 2,760,600 |
| WebEx Communications |
(WEBX) |
95 | 29.77 | 1,765,777 |
2,140,200 |
| QLogic |
(QLGC) | 98 |
38.50 | 11,914,272 | 13,848,400 |
| Emulex | (EMLX) | 99 | 24.65 | 7,677,468 | 17,617,600 |
3 Month RS of 20
or lower and close in bottom of range
| Company Name |
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| Northern Trust |
(NTRS) | 20 | 50.20 | 1,551,400 | 1,780,400 |
Fifth Third Bancorp |
(FITB) | 17 | 54.71 | 3,294,450 | 2,182,900 |
COR Therapeutics |
(CORR)) | 13 | 20.80 | 1,318,736 | 1,191,600 |
| Adelphia Communications |
(ADLAC) | 4 | 23.90 | 2,959,772 | 1,559,400 |
3 Month RS of 80
and higher with volume surge in last hour
| Company Name |
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| Ross Stores |
(ROST) | 89 | 30.81 | 1,661,800 | 615,300 |
| SeaChange International |
(SEAC) | 93 | 24.15 | 450,100 | 527,600 |
| Advanced Fibre Communications |
(AFCI) | 93 | 21.98 | 2,523,627 | 2,760,600 |
| Cell Therapeutics |
(CTIC) | 96 | 29.42 | 1,379,313 | 1,130,600 |
Stocks in
Slim Jims
At or near
high
| Company Name |
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| CDW Computer |
(CDWC) | 94 | 44.99 | 1,099,492 | 712,200 |
| Emulex | (EMLX) | 99 | 24.65 | 5,748,448 | 7,637,400 |
| Gilead Sciences |
(GILD) | 95 |
64.90 | 2,216,698 | 2,152,500 |
At or near
low
None Today
Best of luck with your
trading Monday. Please use protective stops on trades.