Tuesday’s Stock Watch
Traders brought the markets
down this Monday, as fears of terrorism revisited headlines. Overall
volume was on the light side. Gold and silver, utilities, and energy stocks made
the biggest gains of the day, with healthcare, software, Internet, computer
hardware stocks making the biggest losses. New 52-week highs and lows remained
quiet. Stocks on our watch list were mixed, with our most recent breakout
following through.
Market breadth was negative, with NYSE
declining issues over advancing issues by a ratio of 1.62, and down volume over
up volume by a 1.67 ratio. Nasdaq declining issues over advancing issues came in
at 1.93, and down volume beat up volume by a 2.12 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down 1.19% at 10353.08. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down 1.33% at 1091.87.
The Nasdaq
(
$COMPQ |
Quote |
Chart |
News |
PowerRating) closed down 2.28% at 1701.60.
Â
1,194
1,205
Issues
1,938
2,326
365,531,000
449,805,000
611,466,000
954,920,000
Total
Volume
986,022,000
1,418,302,000
Highs
25
22
2
6
Top sectors:
Gold and Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating), up 3.11% at
83.18.
Utility Sector Index
(
$UTY.X |
Quote |
Chart |
News |
PowerRating),
up 1.84% at 326.91.
Losing sectors:
Morgan
Stanley Healthcare
Index
(
$HMO.X |
Quote |
Chart |
News |
PowerRating) down
3.77% at
595.86.
Combined Computer Index
(
$XCO.X |
Quote |
Chart |
News |
PowerRating), down 3.34% at 809.96.
Sectors with Most New 52-Week Highs:
Due to a technical issue, this data is not available.
Watch List Action:
Carrying over from its breakout, Right Management Consultants
(
RMCI |
Quote |
Chart |
News |
PowerRating)
gained 3.39% on over twice its average volume. So far, so good, the last two
breakouts were canceled the next day.
Our biggest loser of the day was Winnebago Industries
(
WGO |
Quote |
Chart |
News |
PowerRating) as it fell 1.89%
on below average volume. This handle is already flawed with an upward slant, and
today being its third day of distribution in as many weeks makes it even less
attractive. As with the breakout with Right Management Consultants above, this
one will be beneficial to watch as a breakout, but is not an ideal buy
candidate.
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.
Chicos FAS Inc.
(
CHS |
Quote |
Chart |
News |
PowerRating), up 0.02% on below-average volume
for an accumulation day.
Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating), down
0.73% on below-average volume.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), up 0.41% on
below-average volume for an accumulation day.
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), down 1.76%
on
on below-average volume.
Right Mgt. Consultants
(
RMCI |
Quote |
Chart |
News |
PowerRating), up 3.39% on
over twice its 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 |
| Chicos FAS Inc. | ( CHS | Quote | Chart | News | PowerRating) | 93 | 40.94 | + 0.01 | 609,000 | 38.08 | 42 |
Christopher & Banks | ( CHBS | Quote | Chart | News | PowerRating) | 93 | 40.74 | – 0.30 | 437,800 | 33.60 | 42.45 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 95 | 48.75 | + 0.20 | 261,400 | 42.23 | 50.08 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 89 | 68.52 | – 1.23 | 401,000 | 66.74 | 73.60 |
Right Mgt. Consultants | ( RMCI | Quote | Chart | News | PowerRating) | 91 | 32.29 | + 1.06 | 290,200 | 290,200 | 28.95 |
Stocks Forming a Handle
DR Horton Inc.
(
DHI |
Quote |
Chart |
News |
PowerRating), down 0.07% on below-average
volume.
Winnebago Industries
(
WGO |
Quote |
Chart |
News |
PowerRating) down 1.89%
on below-average volume for a distribution day.
| 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 |
DR Horton Inc. | ( DHI | Quote | Chart | News | PowerRating) | 85 | 25.75 | – 0.02 | 2,132,800 | 27.14 |
Winnebago Industries | ( WGO | Quote | Chart | News | PowerRating) | 94 | 48.61 | – 0.94 | 232,700 | 49.60 |
Stocks Building A Base
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 |
None | Â | Â | Â | Â | Â |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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