Wednesday’s Hit List

  • October 16, 2001
  • TradingMarkets Editors

The indices rallied in the second half of trading to chalk up their fifth
consecutive bullish close in the top of the range. In spite of the markets
overbought condition, the strong closes continue to leave a bullish bias to the
overall market.

Sector action had the banks
(
$BKX.X |
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PowerRating) and the semis
(
$SOX.X |
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leading the way, with the telecommunication index
(
$XTC.X |
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PowerRating) the only
laggard in the red. 

 

Wednesday’s stocks to watch:

3 Month RS of 80 and higher and Close
in Top of Range

 





Company
Name		 Symbol
 Relative
Strength
 Price Average
Volume
 Today’s
Volume
Analog
Devices 		 ADI
 92
 42.07
 4,413,085
 4,098,000
Nvidia
 NVDA
 93
 44.30 9,496,285
 11,874,600
Microsemi
 MSCC
 95
 38.42 1,605,028 1,988,900
Juniper
Networks		 JNPR 98 22.95 21,414,957 32,676,800





















 

3 Month RS of 20 or lower and close in bottom of range





Company
Name		 Symbol
 Relative
Strength
 Price Average
Volume
 Today’s
Volume
Adelphia
Communications		 ADLAC
 2
 24.20
3,017,985		 1,353,000
General
Motors
 GM
 13
 43.97 3,895,476
2,540,600
Macrovision
 MVSN
 16
 35.57 1,291,490 1,689,300
Micron
Technology		 MU 18 22.05 9,972,538 9,513,800

 

3 Month RS of 80 and higher with
volume surge in last hour





Company
Name		 Symbol
 Relative
Strength
 Price Average
Volume
 Today’s
Volume
Invitrogen IVGN
 85 72.70
953,290		 1,152,300
Taro
Pharmaceuticals
 TARO
 87
 40.45 970,671
1,370,700
Microchip
Technology
 MCHP
 90
 32.58 2,867,104 2,029,300
WebEx
Communications		 WEBX 96 27.38 2,073,576 852,000

 

Stocks in Slim Jims to possibly
carry over

Up





Company
Name		 Symbol
 Relative
Strength
 Price Average
Volume
 Today’s
Volume
Boston
Scientific		 BSX
 90 23.44
1,734,200		 2,044,300
Rome
and Haas
 ROH
 80
 33.72 774,654
602,600
XL
Capital
 XL
 94
 94.83 1,678,894 1,739,500

 

Down





Company
Name		 Symbol
 Relative
Strength
 Price Average
Volume
 Today’s
Volume
Adelphia
Communications		 ADLAC
 2
 24.20
3,017,985		 1,353,000
Allergan
 AGN
 18
 68.73 935,923
585,600
Golden
State Bancorp
 GSB
 13
 26.69 590,442 766,900

 

Best of luck with your trading Wednesday.
Please use protective stops on trades.