Thursday’s Stock Watch

The markets
put in an intraday reversal today
, with above-average volume chalking
in accumulation for the Nasdaq. The semiconductor, oil service, and retail
stocks led the action, while Internet stocks bore the heaviest brunt of the
selling. Stocks on our watch lists were mixed, with nice accumulation made in
one of the gaming stocks.


Market breadth was positive, with NYSE
advancing issues over declining issues by a ratio of 1.55, and up volume
over down volume by a 1.33 ratio. Nasdaq advancing issues over declining issues came in
at 1.20, and up volume beat down volume by a 1.27 ratio.


The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating)
closed up

1.50% to
9,762.86. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)

closed up

0.98% to
1,111.4.
The Nasdaq [$COMPQ |$COMPQ] closed up

1.08% to
1,913.42.






cellPadding=0 width=”70%” border=1>

































NYSE size=2>NASDAQ
Advancing Issues 1,892 1,947
Declining
Issues
1,218 1,625
Advancing Volume
1,114,063,000

1,128,677,000
Declining Volume

837,626,000

889,521,000
Total
Volume

1,966,088,000

2,047,692,000
New 52-week
Highs
35 19
New 52-week Lows 12 6

Top sectors:

Semiconductor Index
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
up
4.15% to 554.88.

Oil Service Sector Index
(
OSX.X |
Quote |
Chart |
News |
PowerRating)

up 2.92 83.05.

Losing sectors:

GSTI Internet Index
(
$GIN.X |
Quote |
Chart |
News |
PowerRating)
down 2.31% at
98.89

Amex Hong Kong Index
(
$HKX.X |
Quote |
Chart |
News |
PowerRating)
down 2.31% to 531.20.

Sectors With New
Highs:

Construction – 7 –
(
NVR |
Quote |
Chart |
News |
PowerRating)
,
(
SHLR |
Quote |
Chart |
News |
PowerRating)
,
(
BZH |
Quote |
Chart |
News |
PowerRating)
,
(
DHI |
Quote |
Chart |
News |
PowerRating)
,
(
LEN |
Quote |
Chart |
News |
PowerRating)

(
RYL |
Quote |
Chart |
News |
PowerRating)

(
CTX |
Quote |
Chart |
News |
PowerRating)
.

Restaurants – 5 –
(
CMPP |
Quote |
Chart |
News |
PowerRating)
,
(
BOBE |
Quote |
Chart |
News |
PowerRating)
,
(
STAR |
Quote |
Chart |
News |
PowerRating)
,
(
RYAN |
Quote |
Chart |
News |
PowerRating)
,
(
PFCB |
Quote |
Chart |
News |
PowerRating)
.

Trucking – 5 –
(
HTLD |
Quote |
Chart |
News |
PowerRating)
,
(
WERN |
Quote |
Chart |
News |
PowerRating)
,
(
KNGT |
Quote |
Chart |
News |
PowerRating)
,
(
SWFT |
Quote |
Chart |
News |
PowerRating)
,
(
JBHT |
Quote |
Chart |
News |
PowerRating)
.

Business Services – 5 –
(
XRX |
Quote |
Chart |
News |
PowerRating)
,
(
GKSRA |
Quote |
Chart |
News |
PowerRating)
,
(
PXR |
Quote |
Chart |
News |
PowerRating)
,
(
EEFT |
Quote |
Chart |
News |
PowerRating)
,
(
ABCO |
Quote |
Chart |
News |
PowerRating)
.

Medical – 3 –
(
IMDC |
Quote |
Chart |
News |
PowerRating)
,
(
ZMH |
Quote |
Chart |
News |
PowerRating)
,
(
HSIC |
Quote |
Chart |
News |
PowerRating)
.

Recreational Vehicles – 3 –
(
THOR |
Quote |
Chart |
News |
PowerRating)
,
(
COA |
Quote |
Chart |
News |
PowerRating)
,
(
WGO |
Quote |
Chart |
News |
PowerRating)
.

Gold – 3 –
(
BVN |
Quote |
Chart |
News |
PowerRating)
,
(
GG |
Quote |
Chart |
News |
PowerRating)
,
(
AEM |
Quote |
Chart |
News |
PowerRating)
.

Textiles – 3 –
(
COH |
Quote |
Chart |
News |
PowerRating)
,
(
NKE |
Quote |
Chart |
News |
PowerRating)
,
(
AIN |
Quote |
Chart |
News |
PowerRating)
.

Watch List Action


Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating)
put in a gain of 2.52% as it attempted to
regain some ground from its last two days of distribution.




From our “Stocks Building a Base” list, Multimedia Games
(
MGAM |
Quote |
Chart |
News |
PowerRating)
gained
5.26% on average volume for its second accumulation day in a row, and was our
biggest gainer of the day. This leisure and gaming company provides linked
high-stakes and electronic based games to the Indian gaming industry. The
company’s last two quarters of earnings came in at 71% and 80% respectively, and
has a 2002 estimated earnings growth rate of 106%.




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.


American Healthways Inc.
(
AMHC |
Quote |
Chart |
News |
PowerRating)
, up 2.33% on
below-average volume.


size=2>Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating)
, down 0.62% on below-average volume for a
distribution day.


size=2>Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating)
, down 0.53% on above-average volume.


MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating)
, up 4.61% on below-average
volume.


size=2>Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating)
, up 1.15% on above-average volume.


size=2>PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating)
, up 2.85% on below-average volume.


Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating)
, up 0.87% on above-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
size=2>American Healthways Inc. size=2>
(
AMHC |
Quote |
Chart |
News |
PowerRating)

97

28.00

+ 0.64

313,200
size=2>Copart Inc. size=2>
(
CPRT |
Quote |
Chart |
News |
PowerRating)

87

22.35

– 0.14

1,000,300
size=2>Direct Focus Inc. size=2>
(
DFXI |
Quote |
Chart |
News |
PowerRating)

92

35.85

+ 0.88

907,800
size=2>Genesis Microchip size=2>
(
GNSS |
Quote |
Chart |
News |
PowerRating)

98

57.70

– 0.31

3,050,000
size=2>MTR Gaming Group size=2>
(
MNTG |
Quote |
Chart |
News |
PowerRating)

96

15.56

+ 0.73

586,800
size=2>Nvidia Corp. size=2>
(
NVDA |
Quote |
Chart |
News |
PowerRating)

95

65.44

+ 0.78

9,010,900
size=2>Panera Bread Co. size=2>
(
PNRA |
Quote |
Chart |
News |
PowerRating)

96

60.05

+ 0.51

273,800
size=2>PEC Solutions size=2>
(
PECS |
Quote |
Chart |
News |
PowerRating)

95

26.69

+ 0.74

743,100

Stocks Forming a Handle


Integra Lifesciences
(
IART |
Quote |
Chart |
News |
PowerRating)
down 0.22% 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
size=2>Integra Lifesciences size=2>
(
IART |
Quote |
Chart |
News |
PowerRating)

90

31.20

– 0.07

344,100


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
size=2>Multimedia Games Inc. size=2>
(
MGAM |
Quote |
Chart |
News |
PowerRating)
size=2>99
37.00
+
1.85

187,600


href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com