Tuesday’s Stock Watch
The broader
markets moved higher today in an attempt to recover
some of last week’s
losses. Technology was once again the leader, with Nasdaq up volume showing over
a 2:1 command over down volume. The NYSE market breadth also favored the upside,
with a marginal edge to advancing issues and up volume. From the New Highs
category, restaurant stocks showed up with five, as medical equipment and
semiconductors also put in a good day. The Stocks on our list had mixed results,
as our breakout from last Friday did an about face to erase all of its gains.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up
0.82% to
9,891.97. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up
0.94% to
1,133.62.
The Nasdaq [$COMPQ |$COMPQ] closed up
1.76% to
1,987.45.
| NYSE | NASDAQ | |
| Advancing Issues | 1,785 |
2,076 |
| Declining Issues | 1,372 |
1,597 |
| Advancing Volume |
726,506,000 |
1,243,080,000 |
| Declining Volume |
487,379,000 |
535,474,000 |
| Total Volume | 1,226,355,000 |
1,796,335,000 |
| New 52-week Highs | 32 | 26 |
| New 52-week Lows | 12 | 0 |
Top sectors:
Biotechnology
Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating), up 4.02% at 587.33.
Dow Jones
Internet Commerce Index
(
$ECM.X |
Quote |
Chart |
News |
PowerRating), up 3.66% at 51.73.
Losing sectors:
Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating), down 1.92% at 85.61.
Oil Service
Sector Index
(
$OSX.X |
Quote |
Chart |
News |
PowerRating), down 1.91% at 79.59.
Sectors With New Highs:
Medical Appliances and Equipment – 2
Medical Instruments and Supplies – 2
Medical Laboratories and Research – 1
REITs – 3
Restaurants – 5
Semiconductor Integrated Circuits – 3
Semiconductor Specialized – 3
Watch List Action
Bioreliance Corp.
(
BREL |
Quote |
Chart |
News |
PowerRating) got its clock cleaned today after breaking out
last Friday. Down 13.20% on over twice average volume for a distribution day,
the future doesn’t look so positive anymore. When looking at the chart pattern,
we see that the handle portion of the cup-and-handle did not slope lower as it
does so often on many other patterns. The sloping lower handle usually shakes
out the “weak” and disbelieving investors. Here we have a sturdy handle, a good
breakout on double volume, then a massive sell-off. There is no telling how this
one will end up, but it’s not behaving like a successful candidate would.
Our biggest gainer of the day was Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), up 4.40% on below-average volume for an accumulation day. This stock appears to have come out of a
pullback, and with its gap up today, looks to continue heading higher.
Recent Breakouts
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 0.55% on above
average volume for its second accumulation day in a row.
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating), up 0.64% on
below-average volume.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating) down 1.30% on
average volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), up 1.45% on
six-times
above-average
volume for an accumulation day.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 3.59% on below-average volume
for an accumulation day.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 1.54% on below-average
volume.
PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating) up 1.07% on average volume
for an accumulation day.
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating), down 2.15% on below-average volume for its second distribution day in a row.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
99 | 36.55 | + 0.20 | 255,500 |
| BioReliance Corp. | ( BREL | Quote | Chart | News | PowerRating) |
99 | 31.60 | – 4.81 | 291,400 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
93 | 36.54 | + 1.54 | 713,200 |
| Ebay | ( EBAY | Quote | Chart | News | PowerRating) |
90 | 69.29 | + 2.70 | 8,606,200 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
99 | 68.90 | – 0.91 | 2,621,000 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
95 | 14.95 | + 1.45 | 352,500 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
96 | 68 | + 2.36 | 9,975,800 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
94 | 50.08 | + 0.76 | 280,200 |
| PEC Solutions | ( PECS | Quote | Chart | News | PowerRating) |
99 | 34.00 | + 0.36 | 561,400 |
| THQ Inc. | ( THQI | Quote | Chart | News | PowerRating) |
94 | 54.38 | – 1.20 | 1,615,200 |
Stocks Forming a Handle
Career Education Corp.
(
CECO |
Quote |
Chart |
News |
PowerRating), up 3.29% on
below average volume for an accumulation day.
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating), down 2.52% on
below average volume for a distribution day.
Integra LifeSciences
(
IART |
Quote |
Chart |
News |
PowerRating), up 2.73% on average
volume for its second accumulation day in a row.
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating), down 1.52% on
below average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| Career Education Corp. | ( CECO | Quote | Chart | News | PowerRating) |
92 | 36.10 | + 1.15 | 794,700 |
| Direct Focus Inc. | ( DFXI | Quote | Chart | News | PowerRating) |
91 | 29.77 | – 0.77 | 655,000 |
| Integra Lifesciences | ( IART | Quote | Chart | News | PowerRating) |
90 | 26.70 | + 0.71 | 315,200 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
94 | 39.98 | – 0.62 | 839,900 |
Stocks Building A Base
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| None |