Wednesday’s Stock Watch
The broader
markets turned in gains for the day, as the
Dow and the S&P 500 flirted with their 50-day moving averages while making
accumulation days. Volume on the Nasdaq was lighter, ahead of a key earnings
announcement from tech bellwether Intel. Our watch lists were full of action
today, as Krispy Kreme found its way off our “recent breakout” list, and key
accumulations and distributions were made in NVIDIA and PEC Solutions.
Market breadth was slightly positive, with
NYSE advancing issues over declining issues by a ratio of 1.46, and up volume
over down volume by a 1.13 ratio. Nasdaq advancing issues over declining
issues came in at 1.04, and down volume beat up volume by a 1.05 ratio.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed up 32.73 to 9924.15. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed up 7.78 to 1,146.19.
The Nasdaq [$COMPQ |$COMPQ] closed up 10 points to 2000.91.
Issues
Volume
723,835,000
826,517,000
636,689,000
790,208,000
Volume
1,370,979,000
1,637,197,000
Highs
Lows
Top sectors:
Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating) up 6.02% at 93.51.
Mexico Index
(
$MXY.X |
Quote |
Chart |
News |
PowerRating) up
2.93% at 105.20.
Losing sectors:
Japan Index
(
$JPN.X |
Quote |
Chart |
News |
PowerRating) down 2.24% at
108.29.
The Street.com Internet Index
(
$DOT.X |
Quote |
Chart |
News |
PowerRating) down
2.10% to 191.43.
Sectors With New
Highs:
Business Services – 3
Health Care – 4
Medical – 4
REITs – 11
Restaurants – 5
Watch List Action
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating) fell 0.2% on average volume for a distribution
day. The stock has now filled the gap made 01/09.
Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating) fell 5.63% on above average volume to negate the gains
made since its breakout, and to fall 9% below the 42.15 buy point. This action
now classifies it as a breakout failure, and it will be removed from this
report.
Recent Breakouts
size=2>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 0.26% on
average volume.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), up 1.30% on average
volume.
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating), up 1.37% on average volume for an
accumulation day.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), down 4.57% on average
volume.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 9.33% on above-average
volume for an accumulation day.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), up 0.57% on below-average volume.
PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), down 6.62% on above-average volume
for an accumulation day.
| color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume |
| size=2>American Healthways Inc. | size=2> ( AMHC | Quote | Chart | News | PowerRating) | size=2>96 | 29.80 | + 0.08 | 318,900 |
| size=2>Copart Inc. | size=2> ( CPRT | Quote | Chart | News | PowerRating) | 77 | 31.93 | + 0.41 | 738,800 |
| size=2>Direct Focus Inc. | size=2> ( DFXI | Quote | Chart | News | PowerRating) | 94 | 34.00 | – 0.01 | 812,400 |
| size=2>Ebay | size=2> ( EBAY | Quote | Chart | News | PowerRating) | 83 | 64.03 | + 0.87 | 6,366,500 |
| size=2>Genesis Microchip | size=2> ( GNSS | Quote | Chart | News | PowerRating) | size=2>99 | 68.49 | + 1.35 | 2,548,800 |
| size=2>Krispy Kreme Doughnuts | size=2> ( KKD | Quote | Chart | News | PowerRating) | 92 | 38.50 | – 2.30 | 938,700 |
| size=2>MTR Gaming Group | size=2> ( MNTG | Quote | Chart | News | PowerRating) | 97 | 14.60 | – 0.70 | 510,400 |
| size=2>Nvidia Corp. | size=2> ( NVDA | Quote | Chart | News | PowerRating) | 96 | 65.34 | + 5.58 | 9,398,100 |
| size=2>Panera Bread Co. | size=2> ( PNRA | Quote | Chart | News | PowerRating) | 95 | 56.67 | – 0.33 | 274,400 |
| size=2>PEC Solutions | size=2> ( PECS | Quote | Chart | News | PowerRating) | 98 | 32.12 | – 2.28 | 684,200 |
Stocks Forming a Handle
Integra Lifesciences
(
IART |
Quote |
Chart |
News |
PowerRating) up 0.20% on
less than average volume.
| color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume |
| size=2>Integra Lifesciences | size=2> ( IART | Quote | Chart | News | PowerRating) | size=2>86 | 29.32 | + 1.22 | size=2>297,700 |
Stocks Building A Base
Multimedia Games Inc.
(
MGAM |
Quote |
Chart |
News |
PowerRating), down 3.63% on
average volume for a distribution day.
| color=#ffffff size=2>Company Name | color=#ffffff size=2>Symbol | color=#ffffff size=2>12 Month RS | color=#ffffff size=2>Price | color=#ffffff size=2>Price Change | color=#ffffff size=2>Average Volume |
| size=2>Multimedia Games Inc. | size=2> ( MGAM | Quote | Chart | News | PowerRating) | size=2>99 | 34.18 | – 1.29 | size=2>187,400 |
href=”mailto:danielb@tradingmarkets.com”>danielb@tradingmarkets.com