Thursday’s Stock Watch
All three major indexes
posted gains on average volume for the day. Big caps were the day’s
leaders, with healthcare, retail, and broker/dealers advancing modestly; as gold
and silver, oil service, networking, and utilities weighed down the minus
column. There were no standouts in the 52-week highs and lows department. Stocks
on our watch list posted nice gains, with one of our recent breakouts hitting a
stop loss.
Market breadth was mostly positive, with NYSE
advancing issues over declining issues by a ratio of 1.23, and up volume over
down volume by a 1.38 ratio. Nasdaq declining issues over advancing issues came
in at 1.05, and up volume beat down volume by a 1.04 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 1.12% at 9797.15. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up 0.88% at 1049.94.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed up 1.09% at 1595.25.
Â
1,742
1,666
Issues
1,411
1,748
720,972,000
815,250,000
523,439,000
786,032,000
Total
Volume
1,287,118,000
1,617,483,000
Highs
15
8
14
16
Top sectors:
Morgan Stanley Healthcare Index
(
$HMO.X |
Quote |
Chart |
News |
PowerRating), up 3.07% at
622.11.
Securities Broker/Dealer Index
(
$XBD..X |
Quote |
Chart |
News |
PowerRating),
up 2.03% at 359.34.
Losing sectors:
Gold and Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), down 5.09% at
139.28.
Oil Service Sector Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating), down
2.27% at 97.35.
Sectors with Most New 52-Week Highs:
No sectors were able to post 10 or more.
Watch List Action:
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating) rose 4.19% on above average volume. The stock
has posted six days of distribution with no accumulation over the past three
weeks. This one looks horrible technically, though it has made a decent run
since breaking out in late February.
Right Management Consultants
(
RMCI |
Quote |
Chart |
News |
PowerRating) fell 6.79% on above average volume to
become another breakout casualty. We will no longer track the stock as it has
fallen more than 8% below its pivot buy point.Â
Recent Breakouts
size=2>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.
Chicos FAS Inc.
(
CHS |
Quote |
Chart |
News |
PowerRating), up 5.77% on
heavy volume for its second accumulation day in a row.
Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), up
8.08% on average volume.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), up 4.19% on above-average volume.
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 2.47%
on above-average
volume.
Right Mgt. Consultants
(
RMCI |
Quote |
Chart |
News |
PowerRating), down 6.77% on
above-average volume for a distribution day.
| color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume | Pivot | 52-Week High |
| Chicos FAS Inc. | ( CHS | Quote | Chart | News | PowerRating) | 89 | 39.35 | + 2.15 | 660,700 | 38.08 | 42 |
Christopher & Banks | ( CHBS | Quote | Chart | News | PowerRating) | 92 | 39.15 | + 2.93 | 418,900 | 33.60 | 42.45 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 84 | 39.75 | + 1.60 | 255,400 | 42.23 | 50.08 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 89 | 64.15 | + 1.55 | 413,200 | 66.74 | 73.60 |
Right Mgt. Consultants | ( RMCI | Quote | Chart | News | PowerRating) | 92 | 25.33 | – 1.84 | 336,400 | 28.15 | 33.57 |
Stocks Forming a Handle
| color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume | Pivot |
None | Â | Â | Â | Â | Â | Â |
Stocks Building A Base
color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume |
None | Â | Â | Â | Â | Â |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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