Tuesday’s Hit List
The indices were hammered in Monday’s session for
a solid trend day to the downside. They all closed on their low tick, so be
aware of potential continuation early in Tuesday’s trading. The bias appears to
the the short side, but keep some long candidates in mind in case we get a
“reversal of the reversal” like we did on October 18. The Nasdaq
Composite
(
$COMPX |
Quote |
Chart |
News |
PowerRating) is hugging its upward trendline, which could give us a
bounce if the market stabilizes.
Hottest Sectors: Utilities
(
$UTX.X |
Quote |
Chart |
News |
PowerRating)
and Gold
(
$XAU.X |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors: Semiconductors
(
$SOX.X |
Quote |
Chart |
News |
PowerRating),
Computer Tech
(
$XCI.X |
Quote |
Chart |
News |
PowerRating) and Banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating)
Monday’s stocks
to watch:
3 Month RS of 80 and higher and close in top
part of
range
|
Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| MSCI Inc. |
( MCSI | Quote | Chart | News | PowerRating) |
95 | 23.99 | 370,477 |
1,155,400 |
| Apache Corp. |
( APA | Quote | Chart | News | PowerRating) |
84 | 54.42 | 1,665,813 | 2,898,100 |
| Baker Hughes |
( BHI | Quote | Chart | News | PowerRating) |
84 | 37.71 | 2,515,122 |
4,162,700 |
| Chiron | ( CHIR | Quote | Chart | News | PowerRating) |
83 | 53.23 | 2,210,704 | 4,494,300 |
3 Month RS of 20 or lower
and close in bottom part of range
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Boeing |
( BA | Quote | Chart | News | PowerRating) |
5 | 33.76 | 6,703,600 |
9,806,500 |
| PanAmSat Corp. | ( SPOT | Quote | Chart | News | PowerRating) |
7 | 20.73 | 923,677 | 1,189,700 |
| King Pharmaceuticals |
( KG | Quote | Chart | News | PowerRating) |
15 | 37.01 | 1,728,654 |
3,173,200 |
| Bed, Bath and Beyond | ( BBBY | Quote | Chart | News | PowerRating) |
18 | 24.30 | 3,878,922 | 6,000,300 |
3 Month RS of 80
and higher with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Michael’s Stores |
( MIKE | Quote | Chart | News | PowerRating) |
93 | 52.01 | 628,831 |
605,200 |
| Applied Biosystems | ( ABI | Quote | Chart | News | PowerRating) |
86 | 29.60 | 1,283,672 | 736,800 |
| Chiron | ( CHIR | Quote | Chart | News | PowerRating) |
83 | 53.23 | 2,210,704 | 4,494,300 |
| Avnet | ( AVT | Quote | Chart | News | PowerRating) |
80 | 21.05 | 516,549 | 345,100 |
Stocks in Slim Jims
High RS at
or near high
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Transkaryotic Therapies | ( TKTX | Quote | Chart | News | PowerRating) |
96 | 38.03 | 355,257 | 264,000 |
| Mohawk Industries | ( MHK | Quote | Chart | News | PowerRating) |
80 | 45.56 | 324,625 | 286,100 |
| Apache Corp. |
( APA | Quote | Chart | News | PowerRating) |
84 | 54.42 | 1,665,813 | 2,898,100 |
Low RS at
or near low
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Gemstar-TV Guide | ( GMST | Quote | Chart | News | PowerRating) |
3 | 20.14 | 4,560,437 | 10,433,600 |
| King Pharmaceuticals | ( KG | Quote | Chart | News | PowerRating) |
15 |
37.01 | 1,728,654 | 3,173,200 |
| SEI Investments | ( SEIC | Quote | Chart | News | PowerRating) |
16 | 31.98 | 652,111 | 521,800 |
Best of luck with your trading Tuesday. Please use
protective stops on trades.