Thursday’s Stock Watch
The broader markets
extended yesterday’s selling today
as technology put in the worst
performance. Overall volume favored the down side as the S&P 500 notched
in a distribution day. The Nasdaq was able to show some strength with 31 new
highs, three of which were in the semiconductor industry, and three in the
information technology sector. Our watch list fell victim to selling
pressure, with Epiq Systems being taken down with a heavy distribution day.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down
1.63% to
9,711.86. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down
1.71% to
1,129.81.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed down
2.47% to
1,888.02.
| NYSE | NASDAQ | |
| Advancing Issues | 1,039 |
1,762 |
| Declining Issues | 2,119 |
1,917 |
| Advancing Volume | 220,899,000 |
997,309,000 |
| Declining Volume |
1,159,724,000 |
1,065,763,000 |
| Total Volume | 1,390,243,000 |
2,113,208,000 |
| New 52-week Highs | 3 | 31 |
| New 52-week Lows | 7 | 1 |
Top sector gainers:
None
Losing sectors:
CBOE Internet Index
(
$INX.X |
Quote |
Chart |
News |
PowerRating) down 6.96% to 129.24.
Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) down
6.34% to 83.95.
GSTI Multimedia Index
(
$GIP.X |
Quote |
Chart |
News |
PowerRating)
down 5.01% to 133.41.
Sectors With New Highs:
Business Equipment – 2
Business Services – 2
Business Software – 1
Gaming Activities – 3
Information Technology – 3
Medical Appliances and Equipment – 1
Semiconductor Integrated Circuits – 2
Semiconductor Memory Chips – 1
Watch List Action
PEC
Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating) beat the markets again today by gaining 1.28% on almost
double volume.
American Healthways Inc
(
AMHC |
Quote |
Chart |
News |
PowerRating) up 3.14% had a 3-for-2 split.
Usually when a stock splits more than 2-for-1 or 3-for-2 it creates an
overabundance of shares that dilutes the price action. This company currently
has 14 million shares — a relatively small number — which keeps it out of this
potential trap. This company provides disease management services to health
plans and hospitals to reduce the cost of care. With 133% rise in earnings last
quarter and an estimated 134% increase in earnings for the year 2002, the company
easily meets our requirements for fundamental strength. The stock also has an RS
of 83.
Recent Breakouts
We monitor the action of Recent Breakouts as an indicator
of the market health for IT traders. When breakouts are acting well, this is a
good sign for the likelihood of further sustainable breakouts. When breakouts
are failing, IT traders should be even more cautious.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating) down 2.16% on over twice average
volume.
Epiq Systems
(
EPIQ |
Quote |
Chart |
News |
PowerRating) down 7.68% on almost twice
average volume, just about knocking it off our watch list.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating)
up 1.29% on above-average volume.
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating) down 1.64% on
average volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating) down 5.14% on above-average volume.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating)
down 5.04% on below-average volume.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating) down 0.33% on above-average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
99 | 29.25 | + 0.89 | 210,500 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
96 | 33.49 | – 0.74 | 795,100 |
| EPIQ Systems | ( EPIQ | Quote | Chart | News | PowerRating) |
98 | 27.99 | – 2.33 | 185,800 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
98 | 53.11 | + 0.68 | 2,426,800 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
94 | 51.36 | – 2.73 | 9,846,100 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
96 | 50.34 | – 0.17 | 317,100 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
95 | 36.70 | – 1.64 | 846,800 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
95 | 12.90 | – 0.70 | 306,900 |
| PEC Solutions | ( PECS | Quote | Chart | News | PowerRating) |
98 | 34.89 | + 0.44 | 402,700 |
Stocks Forming a Handle
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating) down 4.54% on below average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| THQ Inc. | ( THQI | Quote | Chart | News | PowerRating) |
96 | 52.05 | – 2.48 | 1,572,500 |
Stocks Building A Base
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating) up 0.50% on above average volume
for an accumulation day.
Metro One Telecomm Inc
(
MTON |
Quote |
Chart |
News |
PowerRating) down 2.11% on
half average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| Ebay | ( EBAY | Quote | Chart | News | PowerRating) |
88 | 65.10 | + 0.33 | 9,318,900 |
| Metro One Telecomm Inc | ( MTON | Quote | Chart | News | PowerRating) |
96 | 35.70 | – 0.77 | 783,100 |