Tuesday’s Stock Watch
The markets
were mixed in low volume action today, as the Dow and S&P 500 turned
in slight losses, and the Nasdaq advanced. Computer hardware, networking, and
semiconductor stocks took the top spots, with Japan, airline, and retail stocks
holding the biggest losses. New 52-week highs were tempered for a combined 62 on
the NYSE and Nasdaq. Our watch list action was mixed, with two new issues added
to our “handles”.
Market breadth was mostly negative, with NYSE
declining issues over advancing issues by a ratio of 1.18, and down volume over
up volume by a 1.36 ratio. Nasdaq declining issues over advancing issues came in
at 1.24, though up volume beat down volume by a 1.93 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down 0.39%Â to
10,362.70. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down 0.07% to
1146.55.
The Nasdaq [$COMPQ |$COMPQ] closed up 0.93% to 1862.62.
Â
1,441
1,593
Issues
1,698
1,982
427,329,000
996,457,000
580,421,000
516,633,000
1,032,878,000
1,112,055,000
1,539,425,000
Highs
35
27
6
4
Top sectors:
GSTI Multimedia Networking
Index
(
$XGIPX |
Quote |
Chart |
News |
PowerRating)
up 2.94% at 102.72.
Computer Hardware
Index
(
$HWI.X |
Quote |
Chart |
News |
PowerRating) up
2.93% at 154.22.
Losing sectors:
Japan
Index
(
$JPN.X |
Quote |
Chart |
News |
PowerRating) down 2.73% at 116.20.
Airline
Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) down 2.46% to 102.51.
New 52-Week Highs Consolidations:
Banking – 19
Real Estate – 15
Energy – 13
Computer Software – 12
Specialty Retail – 8
Retail – 8
Diversified Services – 7
Food and Beverage – 7
Media – 7
Telecommunications – 7
Consumer Non-Durables – 6
Leisure – 6
Utilities – 5
Manufacturing – 5
Electronics – 5
Consumer Durables – 5
Internet – 4
Materials and Construction – 3
Watch List Action:
Showing another day of strength, Direct Focus
(
DFXI |
Quote |
Chart |
News |
PowerRating) rose 3.52% on
over twice average volume. This maker of leisure products has been increasing
its earnings at least eight consecutive years and had its last two quarters of
earning come in at 48% and 54%. 2002 estimated growth is at 28%.
Group 1
Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating) took another step south today with a 1.22% loss on below
average volume for a distribution day. The stock has been in a narrow trading
range for over two weeks.
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.
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating) up 3.52% on over
twice average volume.
Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), down 1.22% on below-average volume for a
distribution day.
size=2>Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), down 1.04% 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 | 52-Week High |
Direct Focus Inc. | ( DFXI | Quote | Chart | News | PowerRating) | 89 | 39.39 | + 1.34 | 830,800 | 36.54 | 39.82 |
Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) | 95 | 38.57 | – 0.48 | 309,200 | 33.14 | 43.69 |
size=2>Multimedia Games Inc. | size=2> ( MGAM | Quote | Chart | News | PowerRating) | size=2>99 | 34.98 | – 0.37 | 365,200 | 30.91 | 37.05 |
Stocks Forming a Handle
Christopher & Banks Corporation
(
CHBS |
Quote |
Chart |
News |
PowerRating),Â
down 3.74% on
below-average volume.
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating), down 1.32% on average volume
for a distribution day.
Movie Gallery
(
MOVI |
Quote |
Chart |
News |
PowerRating), down 6.11% on low
volume.
size=2>
size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), down 2.21%
on low 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 |
Christopher & Banks | ( CHBS | Quote | Chart | News | PowerRating) | 85 | 31.62 | – 1.23 | 498,100 | 33.60 |
Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) | 82 | 40.31 | -0.54 | 632,800 | 44.12 |
Movie Gallery | ( MOVI | Quote | Chart | News | PowerRating) | 97 | 16.12 | – 1.05 | 408,600 | 17.99 |
size=2>Panera Bread Co | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 93 | 62.30 | – 1.41 | 442,400 | 66.23 |
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 |
Â
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com
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