Thursday’s Stock Watch
The major
indices were able to squeeze out slight gains today as volume
continued to remain on the light side. Gold and silver, oil, and energy issues
were big gainers, with telecom, Internet, and semiconductors down slightly as
the biggest losers. Market breadth on the NYSE was notably positive as it ratios
came in over 2 to 1 for advancing issues and up volume. New 52-week highs made
another bullish statement with a combined 130. Stocks on our watch list were
mixed on low volume.
Market breadth was positive, with NYSE
advancing issues over declining issues by a ratio of 2.03, and up volume over
down volume by a 2.47 ratio. Nasdaq advancing issues over declining issues came
in at 1.24, and up volume beat down volume by a 1.10 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 0.71%Â to
10,426.91. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up 0.53% to
1144.58.
The Nasdaq [$COMPQ |$COMPQ] closed up 0.14% to 1826.75.
Â
2,112
1,921
Issues
1,039
1,551
812,532,000
827,618,000
329,165,000
753,793,000
Volume
1,156,049,000
1,598,328,000
Highs
77
53
2
6
Top sectors:
Gold and
Silver
Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating)
up 5.94% at 72.18.
Oil Service Sector Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) up
4.54% at 102.51.
Losing sectors:
North American
Telecoms
Index
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) down 1.00% at 608.67.
Biotechnogy
Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) down
0.83% to 504.60.
New 52-Week Highs Consolidations:
Banking – 42
Real Estate – 17
Health Services – 16
Metals and Mining – 14
Diversified Services – 13
Utilities – 12
Computer Software – 10
Consumer Non-Durables – 9
Energy – 9
Specialty Retail – 9
Leisure – 8
Food and Beverage – 7
Manufacturing – 7
Retail – 7
Wholesale -Â 7
Electronics – 6
Chemicals – 5
Drugs – 5
Transportation – 5
Insurance – 4
Aerospace/Defense – 4
Consumer Durables – 4
Financial Services – 4
Telecommunications – 4
Conglomerates – 3
Internet – 3
Media – 3
Tobacco – 3
Watch List Action:
Panera Bread Company
(
PNRA |
Quote |
Chart |
News |
PowerRating) rose 0.096% today on almost half its daily
average volume. So far the stock is forming a decent handle as it slopes down
and volume drops off.
Group 1
Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating) fell 0.447% on below average volume for a distribution day.
The stock has put in four accumulation days and three distribution days for the
past three weeks.
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.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), down 0.44% on below-average volume for a
distribution day.
size=2>Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), down 0.76% on almost half its 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 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 95 | 39.98 | -0.18 | 315,400 | 33.14 | 43.69 |
size=2>Multimedia Games Inc. | size=2> ( MGAM | Quote | Chart | News | PowerRating) | size=2>99 | 33.94 | -0.26 | 367,400 | 30.91 | 37.05 |
Stocks Forming a Handle
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating) up 0.08% on
low-volume.
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating), down 0.33% on
almost half its average volume for its second distribution day in a row.
size=2>
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 0.22%
on less than half its 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 |
Direct Focus Inc. | ( DFXI | Quote | Chart | News | PowerRating) | 91 | 35.34 | +0.03 | 811,700 | 36.54 |
Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) | 81 | 41.15 | -0.14 | 706,500 | 44.12 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 95 | 62.83 | + 0.06 | 448,800 | 66.23 |
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 |
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href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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