Thursday’s Stock Watch
Buyers hit the market today, with semiconductor stocks powering
the Nasdaq into positive territory. Average volume on the day made
for accumulation across the indexes. Stocks on our watch list were mixed, with
one of our recent breakouts triggering a 7% stop loss.
Market breadth was positive, with NYSE
advancing issues over declining issues by a ratio of 1.69, and up volume over
down volume by a 2.31 ratio. Nasdaq advancing issues over declining issues came
in at 1.56, and up volume beat down volume by a 2.61 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up
0.18% to
9,730.89. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up
0.75% to
1,127.74.
The Nasdaq [$COMPQ |$COMPQ] closed up
2.11% to
1,922.33.
Issues
981,808,000
1,321,349,000
424,930,000
506,831,000
Volume
1,428,324,000
1,845,618,000
Highs
Top sectors:
Oil Services
Sector Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating) up 5.37% at 79.18
Semiconductor Index
(
$RXH.X |
Quote |
Chart |
News |
PowerRating) up
0.90% at 321.01.
Losing sectors:
Morgan Stanley Healthcare Index
(
$HMO.X |
Quote |
Chart |
News |
PowerRating)
down 0.20% to 467.34.
TheStreet.com Internet Index
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) down
0.04% to 175.20.
Sectors With New
Highs:
Medical – 3
REITs – 3
Restaurants – 4
Watch List Action
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating) shot up 8.56% on over twice-average volume for
an accumulation day. The stock also hit a new 52-week high today.
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating) closed down 0.61% today on average volume for a distribution
day. Those who may have bought at the pivot buy point at 63.58 would have been
stopped out with a 7% stop loss today. At its low of the day, the stock was down
9.1% from its pivot buy.
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), down 2.97% on
below-average volume.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), up 0.23% on very low
volume.
size=2>Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating), up 1.69% on over twice average
volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), up 3.70% on below-average
volume.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 1.88% on below-volume.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 0.29% on average volume
for a distribution day.
PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), up 8.52% on 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) | 98 | 29.42 | – 0.87 | 310,200 |
| size=2>Copart Inc. | size=2> ( CPRT | Quote | Chart | News | PowerRating) | 82 | 21.62 | – 0.03 | 768,400 |
| size=2>Direct Focus Inc. | size=2> ( DFXI | Quote | Chart | News | PowerRating) | 88 | 36.49 | + 2.50 | 835,200 |
| size=2>Ebay | size=2> ( EBAY | Quote | Chart | News | PowerRating) | 72 | 59.42 | – 0.03 | 6,479,300 |
| size=2>Genesis Microchip | size=2> ( GNSS | Quote | Chart | News | PowerRating) | size=2>99 | 58.87 | + 1.17 | 2,593,200 |
| size=2>MTR Gaming Group | size=2> ( MNTG | Quote | Chart | News | PowerRating) | 93 | 16.47 | + 0.56 | 558,500 |
| size=2>Nvidia Corp. | size=2> ( NVDA | Quote | Chart | News | PowerRating) | 96 | 63.12 | + 0.92 | 9,395,900 |
| size=2>Panera Bread Co. | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 95 | 57.09 | – 0.16 | 270,100 |
| size=2>PEC Solutions | size=2> ( PECS | Quote | Chart | News | PowerRating) | 97 | 28.80 | + 2.40 | 685,700 |
Stocks Forming a Handle
Integra Lifesciences
(
IART |
Quote |
Chart |
News |
PowerRating) up 2.83% 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) | 93 | 30.69 | + 0.74 | 340,100 |
Stocks Building A Base
Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), down 3.98% 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>Multimedia Games Inc. | size=2> ( MGAM | Quote | Chart | News | PowerRating) | size=2>99 | 35.61 | – 1.01 | 179,000 |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com