Thursday’s Stock Watch
The broader
markets managed
to hold gains on extremely light volume today. This week is expected
to remain quiet as many traders are away on vacation. Due to Monday’s
abbreviated session, this report will refer to Friday’s volume to analyze
accumulation and distribution. The stocks on our watch list were mixed, with
some nice gains for the books.
Market breadth was positive, with
NYSE advancing issues over declining issues by a ratio of 1.87, and up volume
over down volume by a 2 to 1 margin. Nasdaq advancing issues over declining
issues came in at 1.45, and up volume beat down volume by over a 2.5 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up
0.53% to
10,088.07. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up
0.54% to
1,150.82.
The Nasdaq [$COMPQ |$COMPQ] closed up
0.834% to
1,960.7.
| NYSE | NASDAQ | |
| Advancing Issues | 2,052 |
2,182 |
| Declining Issues | 1,093 |
1,500 |
| Advancing Volume |
502,914,000 |
793,871,000 |
| Declining Volume |
250,813,000 |
316,972,000 |
| Total Volume | 792,634,000 |
1,126,275,000 |
| New 52-week Highs | 45 | 37 |
| New 52-week Lows | 3 | 0 |
Top sectors:
Dow Jones Internet Commerce Index
(
$ECM.X |
Quote |
Chart |
News |
PowerRating) up 4.02% at 52.41
Disk Drive Index
(
$DDX.X |
Quote |
Chart |
News |
PowerRating) up
2.53% at 106.65.
Losing sectors:
Morgan Stanley Health Care Product Index
(
$RXP.X |
Quote |
Chart |
News |
PowerRating)
down 0.25% to 1102.19.
Forrest and Paper Products Sector Index
(
$FPP.X |
Quote |
Chart |
News |
PowerRating)
down 0.10% to 326.78.
Sectors With New Highs:
No data available today.
Watch List Action
Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating), up 0.839% on above average volume for an accumulation
day, maintaining its upward momentum since its recent breakout. This stock has
left a good-sized tail on its daily bar to indicate potential short term
weakness. While IT traders don’t make decisions off of short-term indicators,
ideally we would like to see the stock put better distance on its pivot point
before going into pullback mode.
One of our biggest gainer on the day was Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating), up 3.96% on half
its average volume. The stock is currently hovering near its pivot point, and
needs to rally here to avoid hitting stop levels.
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.
American Healthways Inc
(
AMHC |
Quote |
Chart |
News |
PowerRating), up 1.83% on below-average volume.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), up 1.58% on above-average volume.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating), up 3.76% on
above-average volume for an accumulation day.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), up 6.50% on
above-average
volume for an accumulation day.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 2.44% on below-average volume.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 1.06% on
average volume.
PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), up 1.47% on below-average volume.
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating), up 1.78% on below-average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
98 | 31.64 | + 0.57 | 277,300 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
93 | 38.50 | + 0.60 | 694,300 |
| Ebay | ( EBAY | Quote | Chart | News | PowerRating) |
89 | 66.34 | + 2.53 | 8,470,900 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
99 | 66.45 | + 2.41 | 2,712,200 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
95 | 44.47 | + 0.37 | 875,900 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
97 | 16.22 | + 0.99 | 473,800 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
97 | 67.81 | + 1.62 | 5,565,200 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
95 | 53.93 | + 0.57 | 274,100 |
| PEC Solutions | ( PECS | Quote | Chart | News | PowerRating) |
99 | 34.50 | + 0.50 | 597,400 |
| THQ Inc. | ( THQI | Quote | Chart | News | PowerRating) |
89 | 52.50 | + 0.92 | 647,600 |
Stocks Forming a Handle
Career Education Corp.
(
CECO |
Quote |
Chart |
News |
PowerRating), up 0.27% on
below-average volume.
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating), down 1.53% on
above-average volume.
Integra LifeSciences
(
IART |
Quote |
Chart |
News |
PowerRating), up 0.58%
on average volume for an accumulation day.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| Career Education Corp. | ( CECO | Quote | Chart | News | PowerRating) |
89 | 36.10 | + 0.10 | 768,600 |
| Direct Focus Inc. | ( DFXI | Quote | Chart | News | PowerRating) |
93 | 29.51 | – 0.46 | 684,600 |
| Integra LifeSciences | ( IART | Quote | Chart | News | PowerRating) |
90 | 27.70 | + 0.16 | 309,100 |
Stocks Building A Base
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| None |