Tuesday’s Stock Watch
The broader
markets extended
Friday’s selling and appear to be nervous ahead of key earnings
announcements this week. Utility and REIT
stocks provided what little strength there was, as airline, biotechnology,
and computer technology stocks bore the worst of the day’s selling. Stocks on
our watch lists were mixed, with key distributions made.
Market breadth was neutral, with
NYSE declining issues over advancing issues by a ratio of 1.02, and down
volume over up volume by a 1.27 ratio. Nasdaq advancing issues over declining
issues came in at 1.003, and down volume beat up volume by a 1.02 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down
0.96% to
9,891.42. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down
0.63% to
1,138.42.
The Nasdaq [$COMPQ |$COMPQ] closed down
1.56% to
1,990.73.
Issues
Issues
Volume
331,491,000
413,852,000
902,829,000
1,345,770,000
Volume
1,243,353,000
1,772,887,000
Highs
Lows
Top sectors:
Morgan Stanley
Health Provider Index
(
$RXH.X |
Quote |
Chart |
News |
PowerRating) up 1.79% at 316.44
Utility Sector Index
(
$UTY.X |
Quote |
Chart |
News |
PowerRating) up
1.13% at 330.90.
Losing sectors:
Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) down 3.94% at
88.20.
Biotechnology Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) down
3.59% to 541.75.
Sectors With New
Highs:
Business Services – 4
Health Care – 4
Management Services – 4
Medical – 4
Regional Banks – 3
Restaurants – 5
Semiconductors – 4
Watch List Action
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating) fell 4.38% today on less than average volume.
The stock has fallen from its abbreviated flag pattern, though is holding above
the gap.
Suffering its fifth distribution day in ten weeks, Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating)
fell 6.88% on average volume. This semiconductor manufacturer will release
earnings this Thursday.
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.
American Healthways Inc.
(
AMHC |
Quote |
Chart |
News |
PowerRating), up 1.10% on
average volume.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), down 4.97% on above-average
volume for a distribution day.
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating), down 1.11% on average volume.
size=2>Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating), down 2.97% on average volume for
a distribution day.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), down 2.79% on over
twice average
volume for its second distribution day in a row.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), down 5.24% on above-average
volume..
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 1.42% on twice-average volume for its second accumulation day in a row.
PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), down 1.71% on 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 |
| size=2>American Healthways Inc. | size=2> ( AMHC | Quote | Chart | News | PowerRating) | size=2>96 | 29.72 | + 1.10 | 318,900 |
| size=2>Copart Inc. | size=2> ( CPRT | Quote | Chart | News | PowerRating) | 77 | 31.52 | – 1.65 | 738,800 |
| size=2>Direct Focus Inc. | size=2> ( DFXI | Quote | Chart | News | PowerRating) | 94 | 34.01 | – 1.56 | 812,400 |
| size=2>Ebay | size=2> ( EBAY | Quote | Chart | News | PowerRating) | 83 | 63.16 | – 0.71 | 6,366,500 |
| size=2>Genesis Microchip | size=2> ( GNSS | Quote | Chart | News | PowerRating) | size=2>99 | 67.14 | – 4.97 | 2,548,800 |
| size=2>Krispy Kreme Doughnuts | size=2> ( KKD | Quote | Chart | News | PowerRating) | 92 | 40.80 | – 1.25 | 938,700 |
| size=2>MTR Gaming Group | size=2> ( MNTG | Quote | Chart | News | PowerRating) | 97 | 15.30 | – 0.44 | 510,400 |
| size=2>Nvidia Corp. | size=2> ( NVDA | Quote | Chart | News | PowerRating) | 96 | 59.76 | – 3.31 | 9,398,100 |
| size=2>Panera Bread Co. | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 95 | 57.00 | + 0.80 | 274,400 |
| size=2>PEC Solutions | size=2> ( PECS | Quote | Chart | News | PowerRating) | 98 | 34.40 | – 0.60 | 684,200 |
Stocks Forming a Handle
Integra Lifesciences
(
IART |
Quote |
Chart |
News |
PowerRating) up 4.34% on
less than 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 |
| size=2>Integra Lifesciences | size=2> ( IART | Quote | Chart | News | PowerRating) | size=2>86 | 29.32 | + 1.22 | size=2>297,700 |
Stocks Building A Base
Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), down 2.71% on
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 |
| size=2>Multimedia Games Inc. | size=2> ( MGAM | Quote | Chart | News | PowerRating) | size=2>99 | 35.47 | – 0.99 | size=2>187,400 |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com