Tuesday’s Stock Watch

• March 11, 2002
• TradingMarkets Editors

The markets
ended mixed today as average volume led the Dow and the S&P 500 to
slight gains, and the Nasdaq to a slight loss. Internet, gold and silver, and
airline stocks held the day’s top spots, with the semiconductors weighing down
the losers. On a relatively quiet day, our two most recent breakouts put in nice
gains.

Market breadth was positive, with NYSE
advancing issues over declining issues by a ratio of 1.05, and up volume over
down volume by a 1.64 ratio. Nasdaq advancing issues over declining issues came
in at 1.23, and up volume beat down volume by a 3.27 ratio.
The
VIX was up 0.76 to 22.37. The TRIN
was down 0.06 to 0.64.

The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 0.36% to
10,611.24 The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up
0.33% to
1,168.26.
The Nasdaq [$COMPQ |$COMPQ] closed down 0.008 to
1,929.79.

 

Top sectors:

GSTI Internet Index

(
$GIN.X |
Quote |
Chart |
News |
PowerRating) up 3.75% at 107.42.

Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) up
2.89% at 114.33.

Losing sectors:

Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) down 2.41% to 622.51.

Computer Hardware Index
(
$HWI.X |
Quote |
Chart |
News |
PowerRating) down
1.52% to 146.34.

Watch List Action:

Multimedia Games
(
MGAM |
Quote |
Chart |
News |
PowerRating), had a good day by gaining 2.61% on below
average volume for an accumulation day. The stock now has five accumulation days
and two clear distribution days fro the pat three weeks. 

Group 1
Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating) was in bull mode again today as it gained 3.37% on below
average volume.

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.

Group 1 Automotive
(
GPI |
Quote |
Chart |
News |
PowerRating), up 3.37% on below average volume.

size=2>Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), up 2.60% on below-average volume
for an accumulation day.

size=2>Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), down 1.16% on almost half its average volume.

size=2>Panera Bread Co
(
PNRA |
Quote |
Chart |
News |
PowerRating), down 1.50%
on above 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
Group 1 Automotive	( GPI | Quote | Chart | News | PowerRating)	96	41.39	+ 1.35	314,200	33.14	41.50
size=2>Multimedia Games Inc.	size=2> ( MGAM | Quote | Chart | News | PowerRating)	size=2>99	31.50	+ 0.80	361,100	30.91	33.74
size=2>Nvidia Corp.	size=2> ( NVDA | Quote | Chart | News | PowerRating)	85	57.61	– 0.68	11,155,300	52.67	72.66
size=2>Panera Bread Co.	size=2> ( PNRA | Quote | Chart | News | PowerRating)	94	57.02	– 0.87	427,900	14.55	64.94

Stocks Forming a Handle

DRS Technologies
(
DRS |
Quote |
Chart |
News |
PowerRating), down 0.25% on
below-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
DRS Technologies	( DRS | Quote | Chart | News | PowerRating)	95	39.90	– 0.10	231,600	42.90s

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