These Are Friday’s Top Names
The ETFs weren’t able to
make good on their early bids pushing for a “never-too-late” Santa
Claus rally. By the end of the
session, which marked another light participation effort by the institutions,
the ETFs all finished within fractions of a percent of the unchanged level. Ho
Ho Ho. More negative news out of Wal-Mart, which looked to be all but discounted
early on in the trading day, eventually gave way to the usual geopolitical
tensions and related concerns over escalating oil prices, ultimately sending
the indices back to unchanged levels.
The edge will be back soon enough. The
volume-and-price contractions we are witnessing are consistent with a trading
range, so sit tight, and stay prepared. Going into tomorrow’s session, downside
momentum is favored, but considering the lack of conviction, your best bet is to
stay prepared to trade from both sides of the market.
There’s not much we can do about a market’s
inertia, but we can continue to dictate our own plan. The way we do that, even
during difficult market periods, is by keeping our lists of relative strength
leaders and laggards, waiting for proper setups when they do occur and then,
without exception, sticking to our rules. The rules are there to protect us.
During the good times, they allow us to participate in the many opportunities
that the market affords, and during those days when the pickings are lean, the
rules allow us to persevere and stay ready for the time when the markets are
able and willing once more.
Have a good evening.
Hottest Sectors (HOLDRs): Telecom
(
TTH |
Quote |
Chart |
News |
PowerRating) and Retail
(
RTH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating) and
Internet
(
HHH |
Quote |
Chart |
News |
PowerRating)
Friday’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 |
| Royal Gold | ( RGLD | Quote | Chart | News | PowerRating) | 95 | 25.40 | 438,000 | 583,000 |
| Anglogold | ( AU | Quote | Chart | News | PowerRating) | 90 | 34.52 | 777,000 | 903,000 |
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 |
| Progressive Corp. | ( PGR | Quote | Chart | News | PowerRating) | 20 | 49.98 | 602,000 | 441,900 |
| Cerner | ( CERN | Quote | Chart | News | PowerRating) | 13 | 29.59 | 724,000 | 522,000 |
| Electronic Arts | ( ERTS | Quote | Chart | News | PowerRating) | 9 | 51.69 | 6,037,000 | 2,798,000 |
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 |
| Anglogold | ( AU | Quote | Chart | News | PowerRating) | 90 | 34.52 | 777,000 | 903,000 |
| Newmont | ( NEM | Quote | Chart | News | PowerRating) | 85 | 29.98 | 4,560,000 | 2,429,000 |
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 |
| SPX Corp | ( SPW | Quote | Chart | News | PowerRating) | 7 | 36.90 | 1,540,000 | 480,000 |
| Abbott Labs | ( ABT | Quote | Chart | News | PowerRating) | 15 | 36.70 | 3,962,000 | 3,761,000 |
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 |
| *Avid Technology | ( AVID | Quote | Chart | News | PowerRating) | 98 | 22.62 | 482,000 | 169,000 |
| *Gtech Holdings | ( GTK | Quote | Chart | News | PowerRating) | 89 | 28.98 | 637,000 | 239,000 |
| *Panera Bread | ( PNRA | Quote | Chart | News | PowerRating) | 80 | 36.22 | 633,000 | 246,000 |
| *Garmin Ltd. | ( GRMN | Quote | Chart | News | PowerRating) | 96 | 29.81 | 377,000 | 227,000 |
* All four High RS Slim Jims are 1 to 3
session extended Slim Jim formations within the longer uptrends on the daily
charts.
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 |
| Take Two Interactive | ( TTWO | Quote | Chart | News | PowerRating) | 14 | 24.05 | 2,174,000 | 772,000 |
Best of luck with your trading Friday. Please use
protective stops on trades.