Tuesday’s Top Names
While the market continues to churn into more and
more overbought territory, all we can do as traders is follow the tape. Strong
closes are bullish, weak closes are bearish. Monday, we had all three major
indices close at the top of their range, so go with the charts for now, then
follow the intraday trend when it becomes apparent. Continue to pick and choose
your spots and remain aware of news, as this is a market that could explode or
implode depending on how it processes information regarding outside factors.
Hottest Sectors: Biotech
(
$BTK.X |
Quote |
Chart |
News |
PowerRating) and
Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating).
Weakest Sectors: Semiconductors
(
$SOX.X |
Quote |
Chart |
News |
PowerRating).
Tuesday’s stocks to
watch:
3 Month RS of 80 and higher and close in top
part of
range
Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Aviron |
( AVIR | Quote | Chart | News | PowerRating) |
88 | 37.25 | 680,974 |
538,100 |
Brocade Communications | ( BRCD | Quote | Chart | News | PowerRating) |
93 | 33.02 | 16,908,246 | 19,980,400 |
Check Point Software |
( CHKP | Quote | Chart | News | PowerRating) |
95 | 42.48 | 10,005,622 |
9,208,800 |
ImClone Systems | ( IMCL | Quote | Chart | News | PowerRating) |
87 | 63.34 | 2,264,735 | 2,624,500 |
Â
3 Month RS of 20 or lower
and close in bottom part of range
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
BJ Wholesale Club | ( BJ | Quote | Chart | News | PowerRating) |
13 | 43.70 | 719,075 | 4,375,800 |
CSG Systems | ( CSGS | Quote | Chart | News | PowerRating) |
3 | 33.60 | 662,266 | 3,065,200 |
Direct Focus |
( DFXI | Quote | Chart | News | PowerRating) |
11 | 26.60 | 587,925 |
2,380,500 |
Medtronic | ( MDT | Quote | Chart | News | PowerRating) |
17 | 41.00 | 4,276,280 | 3,268,700 |
3 Month RS of 80
and higher with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Mercury Interactive |
( MERQ | Quote | Chart | News | PowerRating) |
86 | 33.98 | 3,755,672 |
5,415,600 |
Macromedia | ( MACR | Quote | Chart | News | PowerRating) |
98 | 23.72 | 1,791,072 | 798,900 |
Millennium Pharmaceuticals | ( MLNM | Quote | Chart | News | PowerRating) |
90 | 32.00 | 3,157,400 | 3,185,300 |
Myriad Genetics | ( MYGN | Quote | Chart | News | PowerRating) |
92 | 56.98 | 957,786 | 1,011,800 |
Â
Stocks in Slim Jims
High RS at
or near high
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Automatic Data Processing | ( ADP | Quote | Chart | News | PowerRating) |
80 | 56.97 | 1,853,217 | 1,514,500 |
F5 Networks | ( FFIV | Quote | Chart | News | PowerRating) |
99 | 23.37 | 673,482 | 562,900 |
Guidant Corp. | ( GDT | Quote | Chart | News | PowerRating) |
82 | 46.41 | 2,819,298 | 2,699,900 |
Low RS at
or near low
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
GATX Corp. | ( GMT | Quote | Chart | News | PowerRating) |
11 | 29.75 | 332,938 | 409,200 |
Starwood Hotels |
( HOT | Quote | Chart | News | PowerRating) |
18 | 18 | 2,583,443 |
1,421,200 |
Myriad Genetics | ( MYGN | Quote | Chart | News | PowerRating) |
92 | 56.98 | 957,786 | 1,011,800 |
Â
Best of luck with your trading Tuesday. Please use
protective stops on trades.