Wednesday’s Hit List
Indices slid lower
Tuesday following a first hour rally, let still managed to trace out a higher
high and a higher low alongside Monday’s action. This puts the Nasdaq
Composite ($COMPX)
holding at the 50-day moving average and the uptrend intact – for now. Weak
closes never give hope for higher openings the following day, but remember that
the trading day is longer than the first 15 minutes after the open. Continue to
trade both sides and trade what is there, not what should be.
The Transports ($TRX.X)
was the sector with the biggest upside move, while Healthcare ($HCX.X)
and Telecommunications ($XTC.X)
again were laggards.
Wednesday’s stocks to
watch:
3
Month RS of 80 and higher and Close in Top of Range
|
Name
|
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| Symantec | (SYMC) | 98 | 56.44 | 1,582,568 | 3,283,300 |
| CDW Computer |
(CDWC) |
94 | 48.04 | 1,432,007 |
1,566,500 |
| Transkaryotic Therapies |
(TKTX) | 89 |
35.28 | 317,248 | 2,105,700 |
| eBay | (EBAY) | 86 | 55.45 | 10,259,854 | 12,365,500 |
3 Month RS of 20
or lower and close in bottom of range
| Company Name |
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| LifePoint Hospitals |
(LPNT) | 9 | 33.13 | 568,227 | 3,263,800 |
Providence Healthcare |
(PRHC) | 9 | 30.25 | 1,194,836 | 1,785,300 |
Express Scripts |
(ESRX) | 3 | 41.87 | 3,014,722 | 2,614,300 |
| Macrovision | (MVSN) | 2 | 32.79 | 1,253,863 | 1,252,900 |
3 Month RS of 90
and higher with volume surge in last hour
| Company Name |
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| Illuminet Holdings |
(ILUM) | 97 | 43.35 | 1,645,063 | 783,100 |
| CBRL Group |
(CBRL) | 94 | 25.02 | 741,672 | 1,018,400 |
| SeaChange International |
(SEAC) | 93 | 24.91 | 456,636 | 416,800 |
| Whole Foods Markets |
(WFMI) | 92 | 35.54 | 727,945 | 828,900 |
Stocks in
Slim Jims
At or near
high
| Company Name |
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| eBay | (EBAY) | 86 | 55.45 | 10,259,854 | 12,365,500 |
| Movie Gallery |
(MOVI) | 94 | 24.00 | 326,635 | 396,900 |
| RF Micro Devices |
(RFMD) | 87 |
21.05 | 11,216,852 | 7,585,900 |
At or near
low
| Company Name |
Symbol |
Relative Strength |
Price | Average Volume |
Today’s Volume |
| LifePoint Hospitals |
(LPNT) | 9 | 33.13 | 467,705 |
3,302,100 |
Providence Healthcare |
(PRHC) | 9 | 30.25 | 1,194,836 | 1,785,300 |
| Universal Health |
(UHS) | 18 | 43.13 | 530,000 | 360,800 |
Best of luck with your
trading on Wednesday. Please use protective stops on trades.