Wednesday’s Hit List
Tuesday’s action saw a gap down in the indices
with a feeble attempt at a rally which fizzled into the close. Be attentive to
market action, as the GDP numbers are being released tomorrow. While Tuesday’s
price action broke the Nasdaq’s trendline, it held at the 20-day moving average,
leaving it in a pullback to that indicator. Bounces will often express
themselves at this inflection point. Don’t bet on it, but keep it in mind. Many
high RS stocks are setting up as pullback from their recent highs.
Hottest Sectors:Â Gold
(
$XAU.X |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors: Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) and
Telecommunications
(
$XTC.X |
Quote |
Chart |
News |
PowerRating)
Wednesday’s stocks
to watch:
3 Month RS of 80 and higher and close in top
part of
range
Â
|
Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Internet Security Systems |
[ISSX|ISSX] | 99 | 25.90 | 2,699,327 |
2,010,200 |
| Cabot Microelectronics |
( CCMP | Quote | Chart | News | PowerRating) |
95 | 64.88 | 1,790,340 | 1,630,000 |
ImClone Systems |
( IMCL | Quote | Chart | News | PowerRating) |
85 | 59.94 | 1,941,686 |
2,324,100 |
| Chiron | ( CHIR | Quote | Chart | News | PowerRating) |
83 | 53.34 | 2,330,813 | 3,333,600 |
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 |
| Calpine | ( CPN | Quote | Chart | News | PowerRating) |
3 | 24.55 | 5,478,136 | 4,351,700 |
| Macrovision | ( MVSN | Quote | Chart | News | PowerRating) |
4 | 23.72 | 1,057,109 | 10,021,600 |
| CVS Corp. |
( CVS | Quote | Chart | News | PowerRating) |
13 | 24.26 | 2,311,154 |
31,994,800 |
| Clear Channel Communications | ( CCU | Quote | Chart | News | PowerRating) |
14 | 37.55 | 3,026,027 | 5,001,400 |
Â
3 Month RS of 80
and higher with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Movie Gallery |
( MOVI | Quote | Chart | News | PowerRating) |
95 | 24.55 | 312,422 |
478,300 |
| CDW Computer | ( CDWC | Quote | Chart | News | PowerRating) |
90 | 45.25 | 1,243,377 | 522,400 |
| Independence Community Bank | ( ICBC | Quote | Chart | News | PowerRating) |
83 | 24.10 | 839,300 | 340,100 |
| IDEC Pharmaceuticals | ( IDPH | Quote | Chart | News | PowerRating) |
82 | 59.21 | 3,429,727 | 3,290,600 |
Â
Stocks in Slim Jims
High RS at
or near high
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Alliant Techsystems | ( ATK | Quote | Chart | News | PowerRating) |
88 | 87.55 | 295,131 | 323,200 |
ImClone Systems |
( IMCL | Quote | Chart | News | PowerRating) |
85 | 59.94 | 1,941,686 |
2,324,100 |
| Transkaryotic Therapies | ( TKTX | Quote | Chart | News | PowerRating) |
96 | 39.02 | 355,275 | 727,400 |
Low RS at
or near low
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| CSG Systems | ( CSGS | Quote | Chart | News | PowerRating) |
9 | 31.76 | 530,029 | 7,893,300 |
| CVS Corp. |
( CVS | Quote | Chart | News | PowerRating) |
13 | 24.26 | 2,311,154 |
31,994,800 |
| Target Stores | ( TGT | Quote | Chart | News | PowerRating) |
13 | 29.10 | 3,705,543 | 7,428,900 |
Â
Best of luck with your trading Wednesday. Please use
protective stops on trades.