Thursday’s Stock Watch

February 13, 2002
TradingMarkets Editors

The major
averages made decent gains on a thinly traded session, with the
semiconductors leading technology to the biggest gains of the day. Airline and
telecom stocks led the action to the downside. The number of new 52-week highs
made for the combined NYSE and Nasdaq came in at an encouraging 69, with very
little action on the lows list. Once again, a lack of volume to the upside
indicates a lack of conviction, as the Nasdaq was halted by its downward trend
line.Â Stocks on our watch list were mostly green, with disappointing
action from the two candidates recently added to our “handles” list.

Market breadth was positive, with NYSE
advancing issues over declining issues by a ratio of 1.73, and up volume over
down volume by a 1.85 ratio. Nasdaq advancing issues over declining issues came in
at 1.37, and up volume beat downÂ volume by a 1.57 ratio.

cellPadding=0 width=”70%” border=1 height=”202″>

Â	NYSE	size=2>NASDAQ
Advancing Issues	1,989	2,031
Declining Issues	1,147	1,480
Advancing Volume	758,621,000	954,821,000
Declining Volume	409,408,000	607,539,000
Total Volume	1,195,273,000	1,579,521,000
New 52-week Highs	45	24
New 52-week Lows	9	1

Top sectors:

Semiconductor Index

(
$SOX.X |
Quote |
Chart |
News |
PowerRating) up 1.22% at 60.27.

Dow

Jones Internet Commerce Index
(
$ECM.X |
Quote |
Chart |
News |
PowerRating) up
0.90% at 321.01.

Â Losing sectors:

Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) down 7.23% at 177.58.

North American Telecom Index
(
$XTC.X |
Quote |
Chart |
News |
PowerRating) down
5.12% to 531.79.

Sectors With New Highs:

Watch List Action:

Our biggest gainer of the day was MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), rising 2.71%
on average volume for an accumulation day. This stock has closed above its
50-day moving average for the second day in a row, and has notched in four
accumulation days against five distribution days in the last month.

American Medical Systems Holdings
(
AMMD |
Quote |
Chart |
News |
PowerRating) hit a new 52-week high today,
knocking out the previous high by 10 cents. Volume was twice its daily average,
but this was by no means an invitation to buy. Ideally we want to see the handle
last at least five trading sessions, and slope down to shake out the weak
holders. This move was very premature, decreasing the prospects as a successful
breakout. We will continue to watch and see how the stock behaves at these
levels.

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.

size=2>Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), up 1.23% on low volume.

size=2>Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating), up 0.72% on below-average volume.

size=2>Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), down 1.28% on above average volume.

Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 1.19% 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
size=2>Copart Inc.	size=2> ( CPRT \| Quote \| Chart \| News \| PowerRating)	88	23.03	+ 0.28	1,045,200	8.60	25.82
size=2>Genesis Microchip	size=2> ( GNSS \| Quote \| Chart \| News \| PowerRating)	94	47.19	+ 0.34	3,363,900	38	74.90
size=2>MTR Gaming Group	size=2> ( MNTG \| Quote \| Chart \| News \| PowerRating)	95	15.92	+ 0.42	574,100	14.30	17.16
size=2>Nvidia Corp.	size=2> ( NVDA \| Quote \| Chart \| News \| PowerRating)	94	61.40	– 0.80	8,464,900	52.67	72.66
size=2>Panera Bread Co.	size=2> ( PNRA \| Quote \| Chart \| News \| PowerRating)	96	57.56	+ 0.68	347,700	14.55	64.94

Stocks Forming a Handle

DRS Technologies
(
DRS |
Quote |
Chart |
News |
PowerRating), down 2.69%Â on
almost twice average volume for a distribution day. This is not the way we
like to see the price action break out of a handle. The stock will be
eliminated from the list.

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
American Medical Systems Holdings	( AMMD \| Quote \| Chart \| News \| PowerRating)	94	25.54	+ 0.39	257,600
DRS Technologies	( DRS \| Quote \| Chart \| News \| PowerRating)	94	36.10	– 1.00	260,100

Stocks Building A Base

size=2>Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), up 0.37% 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>Multimedia Games Inc.	size=2> ( MGAM \| Quote \| Chart \| News \| PowerRating)	size=2>99	29.29	+ 0.11	210,800

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

Thursday’s Stock Watch

BUY THE FEAR, SELL THE GREED

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