Wednesday’s Stock Watch
The broader markets
failed to hold ground today
as late-day selling left the major indexes in
negative territory. Average overall volume for the indexes slightly favored the
downside. There were another good round of new highs made with the semiconductor
sector coming on with a total of five. Our watch list had mixed results, with
some key accumulations and distributions made.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down
1.10% to
9,872.6. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down
0.74% to
1,148.87.
The Nasdaq [COMPQ | COMPQ] closed down
0.27% to
1,935.95.
| NYSE | NASDAQ | |
| Advancing Issues | 1,397 |
1,762 |
| Declining Issues | 1,730 |
1,917 |
| Advancing Volume | 532,902,000 |
997,309,000 |
| Declining Volume |
738,402,000 |
1,065,763,000 |
| Total Volume | 1,283,431,000 |
2,113,208,000 |
| New 52-week Highs | 30 | 38 |
| New 52-week Lows | 4 | 2 |
Top sector gainers:
S&P Insurance Index
(
IUX |
Quote |
Chart |
News |
PowerRating) up
1.18% to
729.65.
Nasdaq Finance Index
(
$IXF.X |
Quote |
Chart |
News |
PowerRating) up
1.04%
to 2284.18.
Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating)
up 0.77% to 536.60.
Losing sectors:
CBOE Internet Index
(
INX |
Quote |
Chart |
News |
PowerRating)
down 2.96% TO 138.91.
Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating)
down 2.32% to 89.64.
Computer Hardware Index
(
HWI |
Quote |
Chart |
News |
PowerRating)
down 1.48% to 154.41.
Sectors With New Highs:
Business Services – 3
Business Software – 2
Medical Appliances and
Equipment – 2
Medical Equipment Wholesale – 1
Medical Instruments and Supplies – 1
Medical Laboratories and Research – 1
Semiconductor Integrated Circuits – 2
Semiconductor Specialized – 1
Semiconductor Equipment and Materials – 1
Watch List Action
PEC
Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating) bucked the technology trend today by managing a gain of
1.06% on above-average volume.
Yesterday MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating) broke out of its cup-and-handle
formation but today fell 1.08% on over three times average volume for a
distribution day.
Recent Breakouts
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 0.14% on average
volume.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating) up 4.32% on over twice average
volume for an accumulation day.
Epiq Systems
(
EPIQ |
Quote |
Chart |
News |
PowerRating) down 10.82% on over three times
average volume for a distribution day.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating)
up 8.10% on above-average volume for another accumulation day.
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating) down 2.06% on
average volume for a distribution day.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating)
up 1.06% on average volume.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating) up 3.84% on over
three times average volume for a distribution day.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
99 | 28.36 | + 0.04 | 210,500 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
96 | 34.23 | + 0.42 | 795,100 |
| EPIQ Systems | ( EPIQ | Quote | Chart | News | PowerRating) |
98 | 30.32 | – 3.68 | 185,800 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
98 | 52.43 | + 3.93 | 2,426,800 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
94 | 54.09 | + 0.57 | 9,846,100 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
96 | 50.51 | + 0.87 | 317,100 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
95 | 38.34 | – 0.81 | 846,800 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
95 | 13.75 | + 0.86 | 306,900 |
| PEC Solutions | ( PECS | Quote | Chart | News | PowerRating) |
98 | 34.45 | + 0.36 | 402,700 |
Stocks Forming a Handle
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating) up 2.63% on half average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| THQ Inc. | ( THQI | Quote | Chart | News | PowerRating) |
96 | 54.53 | + 1.40 | 1,572,500 |
Stocks Building A Base
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating) down 0.59% on average volume,
erasing most of yesterdays cup-and-handle breakout gains.
Metro One Telecomm Inc
(
MTON |
Quote |
Chart |
News |
PowerRating) down 2.04% on
below average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| Ebay | ( EBAY | Quote | Chart | News | PowerRating) |
88 | 65.16 | + 3.61 | 9,318,900 |
| Metro One Telecomm Inc | ( MTON | Quote | Chart | News | PowerRating) |
96 | 36.47 | – 0.76 | 783,100 |