Wednesday’s Stock Watch
The broader markets
put in an impressive performance to the upside today, with the indexes
rallying for another strong close. Average volume marked an accumulation day,
with up volume swamping down volume by a ratio of over 6:1 on the Nasdaq,
and over 3:1 on the NYSE. Positive breadth on the session saw advancing
issues over declining issues by a ratio of 2:1. Today’s action was once
again lead by technology, though there was strength across all but the health
care-related sectors. The number of new 52-week highs made was another positive
sign, with the Nasdaq and NYSE making over forty each. The stocks on our watch
were mixed, with key accumulation and distribution days made.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 1.33% to
9,893.84. The
S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating) closed up
1.31% to
1,138.22. The Nasdaq [COMPQ| COMPQ] closed up
3.06% to
1,963.1.
| NYSE | NASDAQ | |
| Advancing Issues | 2,188 | 2,284 |
| Declining Issues | 931 | 1,328 |
| Advancing Volume | 1,000,312,000 | 1,611,028,000 |
| Declining Volume |
280,174,000 | 264,248,000 |
| Total Volume | 1,292,096,000 | 1,888,505,000 |
| New 52-week Highs | 49 | 46 |
| New 52-week Lows | 5 | 1 |
Top sectors:
Street.com Internet Index
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) was up 7.78%
to 192.32.
Networking Index
(
$NWX.X |
Quote |
Chart |
News |
PowerRating) was up 7.25% to 339.56.
Semiconductor Index
(
SOX.X |
Quote |
Chart |
News |
PowerRating)
was up
6.47% to 544.11.
Losing sectors:
S&P Health Care Index
(
$HCX.X |
Quote |
Chart |
News |
PowerRating) was down
0.51%
to 841.51.
Pharmaceutical Index
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) was down 0.38%
to 397.24..
Sectors With New Highs:
Business Equipment — 1
Business Services — 3
Business Software and Services — 1
Drug Manufacturers — 3
Watch List Action
Pec
Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating) came in with another accumulation day, up 4.23% on the
session on twice normal volume. The company’s CEO, David Karlgaard, was
highlighted in IBD today for his ability to focus his time and money into
accomplishing his goals.
The star of the day was NVIDIA Corporation
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 8.05% for an
accumulation day with another 52-week high. This maker, marketer and
distributor of interactive entertainment software is rolling with three
accumulation days and no distribution days for the past two weeks.
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) was up 5.16% on
above average volume for an accumulation day.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating) was down 5.10% on above average volume
for an accumulation day.
eBay
(
EBAY |
Quote |
Chart |
News |
PowerRating) was up 4.36% on
average volume for an accumulation day.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating) was up 0.73% on twice
average volume for an accumulation day.
Krispy Kreme Doughnuts
(
KKD |
Quote |
Chart |
News |
PowerRating) was down 1.23% on
below average volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating) was down 12.65% on
twice average
volume for a distribution day.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating) was down 4.11% on above average
volume for a distribution day. This marks two distribution days in a row for
the stock.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
99 | 33.60 | + 1.65 | 214,800 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
94 | 35.38 | + 1.72 | 816,800 |
| Ebay | ( EBAY | Quote | Chart | News | PowerRating) |
92 | 70.00 | + 2.93 | 9,130,800 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
99 | 59.03 | + 0.43 | 2,432,300 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
94 | 36.74 | – 0.46 | 854,000 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
96 | 11.94 | – 1.73 | 304,100 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
96 | 58.14 | + 4.33 | 9,986,100 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
96 | 48.70 | – 2.09 | 320,700 |
| Pec Solutions | ( PECS | Quote | Chart | News | PowerRating) |
99 | 38.41 | + 1.56 | 431,300 |
Stocks Forming a Handle
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating) was up 4.73% on average volume for an
accumulation day.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| THQ Inc. | ( THQI | Quote | Chart | News | PowerRating) |
96 | 60.66 | + 2.74 | 1,500,600 |
Stocks Building A Base
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| None |