Thursday’s Stock Watch

• June 12, 2002
• TradingMarkets Editors

The markets closed positive
on the day, with above average volume qualifying for accumulation on the NYSE
and Nasdaq. Semiconductors, oil service, and computer technology,
were the biggest gainers; with gold and silver, financial, broker/dealers, and
healthcare down modestly. There were no sectors making 52-week highs with ten or
more, as the 52-week lows list was dominated by drugs, electronics, and
software. There was only one gainer from our watch list.

Market breadth was mostly negative, with NYSE
declining issues over advancing issues by a ratio of 1.08, and down volume over
up volume by a 1.42 ratio. Nasdaq declining issues over advancing issues came in
at 1.25, and up volume beat down volume by a 1.29 ratio.

The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 1.05% at 9617.71. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up 0.65% at 1020.26.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed up
1.46% at 1519.13.

 

Top sectors:

Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating), up 3.57% at
434.43, and the

Oil Service Sector Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating),
up 2.91% at 95.97.

Losing sectors:

Gold and Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), down 2.86% at
75.58, and the

Nasdaq Combined Finance Index
(
$OFIN.X |
Quote |
Chart |
News |
PowerRating), down
1.68% at
2183.26.

Sectors with Most New 52-Week Highs (10 or more):

None

Watch List Action:

Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating) was our only gainer of the day as it rose 1.35%
on below average volume. The stock appears to be forming a handle.

Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating) was our biggest loser of the day as it fell 1.60%
on below average volume for a distribution day. The stock has made no
accumulation days and six distribution days in the past three weeks. Pretty
ugly.

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), down 0.68% on
below-average volume.

Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), down
0.18% on below-average volume.

Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), down 1.60% on
below-average volume for a distribution day.

size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 1.43%

on below-average volume.

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)	93	40.47	– 0.28	703,100	38.08	42
Christopher & Banks	( CHBS | Quote | Chart | News | PowerRating)	93	42.81	– 0.08	414,200	33.60	42.45
Group 1 Automotive	( GPI | Quote | Chart | News | PowerRating)	77	38.56	– 0.63	276,400	42.23	50.08
size=2>Panera Bread Co	size=2> ( PNRA | Quote | Chart | News | PowerRating)	92	69.30	+ 0.98	459,500	66.23	73.60

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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