Thursday’s Top Stocks From TradingMarkets

September 22, 2004
Tsutae Kamada

The biggest loser today was the
semiconductor sector. SMH (Semiconductor HOLDRs) lost more
than 2 percent of its value and closed near the day’s low on average volume.
Although it looks gloomy, the stock has managed to finish slightly above the
August 23 high and the bottom of an extended bear flag.

Diamonds Trust (DIA) broke down below the 50-day MA on heavy volume. As
you can see, it closed near the low, but slightly above the 50% Fib level.
Nasdaq-100 Index Tracking Stock (QQQ) gapped down at the open and finished
poorly just above the rising 20-day MA.

Let’s look at three stocks for Thursday:

eResearch Technology (ERES): The stock re-crossed below the 20-day MA and
closed at the day’s low. Look for a resumption of the downtrend.

Anthem Inc (ATH): In spite of the weak market, ATH held up well and
closed above the rising 200-day MA. The stock may be ready to resume its upward
move.

USG Corp (USG): The stock is in a pullback from the September 15 high. It
has closed just above its support line, and looks poised to resume its uptrend.