Wednesday’s Stock Watch
The broader
markets were
slightly down in an abbreviated trading session. With many traders on
vacation for the week, we are careful not to look too deeply into the market
action. Extremely light volume cancels any credible analysis of accumulation or
distribution, though some of the stocks on our watch list made some good gains.
Market breadth was slightly positive, with
NYSE advancing issues over declining issues by a ratio of 1.4, and up volume
over down volume by only a slight margin. Nasdaq advancing issues over declining
issues came in at 1.5, and up volume beat down volume by over 2 to 1.
The Dow Jones Industrial Average
(
$INDU |
Quote |
Chart |
News |
PowerRating) closed down
0.14 to
10,035.20. The S&P 500
(
$SPX |
Quote |
Chart |
News |
PowerRating)
closed down
0.24 to
1,144.65.
The Nasdaq [$COMPQ |$COMPQ] closed down
1.32 to
1,944.50.
| NYSE | NASDAQ | |
| Advancing Issues | 1,740 |
2,249 |
| Declining Issues | 1,202 |
1,444 |
| Advancing Volume |
216,669,000 |
1,473,340,000 |
| Declining Volume |
203,875,000 |
661,485,000 |
| Total Volume | 435,785,000 |
2,190,168,000 |
| New 52-week Highs | 27 | 0 |
| New 52-week Lows | 0 | 1 |
Top sectors:
Forest & Paper Products Sector
(
$FPP.X |
Quote |
Chart |
News |
PowerRating), up
2.42% at 86.15.
Morgan Stanley Healthcare Provider
(
$RXH.X |
Quote |
Chart |
News |
PowerRating) up
1.07% at 313.03.
Losing sectors:
Airline Index
(
$XAL.X |
Quote |
Chart |
News |
PowerRating)
down 3.54% to 82.52
Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating)
down 1.05% to 515.08.
Sectors With New Highs:
Apparel Stores – 3
Business Services – 3
Drug – 6
Mortgage Investment – 3
Regional Banks – 3
REITS – 3
Watch List Action
Krispy Kreme
(
KKD |
Quote |
Chart |
News |
PowerRating), up 0.341 on light volume, held ground today as
it remains a member of our recent breakout list.
Ebay
(
EBAY |
Quote |
Chart |
News |
PowerRating) fell 1.81% on below-average volume, as the stock tests
its breakout levels.
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 2.20% on below average volume.
Copart Inc.
(
CPRT |
Quote |
Chart |
News |
PowerRating), up 4.37% on below-average volume.
Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating), down 2.20% on
below-average volume.
MTR Gaming Group
(
MNTG |
Quote |
Chart |
News |
PowerRating), up 2.21% on
average
volume.
Nvidia Corp.
(
NVDA |
Quote |
Chart |
News |
PowerRating), up 2.43% on below-average volume.
Panera Bread Co.
(
PNRA |
Quote |
Chart |
News |
PowerRating), down 0.83% on
below-average volume.
PEC Solutions
(
PECS |
Quote |
Chart |
News |
PowerRating), down 0.86% on below-average volume.
THQ Inc.
(
THQI |
Quote |
Chart |
News |
PowerRating), down 2.66% on below-average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| American Healthways Inc. | ( AMHC | Quote | Chart | News | PowerRating) |
98 | 31.07 | + 0.67 | 277,300 |
| Copart Inc. | ( CPRT | Quote | Chart | News | PowerRating) |
93 | 37.90 | + 1.59 | 694,300 |
| Ebay | ( EBAY | Quote | Chart | News | PowerRating) |
89 | 63.81 | – 1.18 | 8,470,900 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
99 | 64.39 | – 1.45 | 2,712,200 |
| Krispy Kreme Doughnuts | ( KKD | Quote | Chart | News | PowerRating) |
95 | 44.10 | + 0.15 | 875,900 |
| MTR Gaming Group | ( MNTG | Quote | Chart | News | PowerRating) |
97 | 15.23 | + 0.33 | 473,800 |
| Nvidia Corp. | ( NVDA | Quote | Chart | News | PowerRating) |
97 | 66.15 | + 1.57 | 5,565,200 |
| Panera Bread Co. | ( PNRA | Quote | Chart | News | PowerRating) |
95 | 53.36 | – 0.45 | 274,100 |
| PEC Solutions | ( PECS | Quote | Chart | News | PowerRating) |
99 | 34 | + 0.29 | 597,400 |
| THQ Inc. | ( THQI | Quote | Chart | News | PowerRating) |
89 | 51.58 | – 1.41 | 647,600 |
Stocks Forming a Handle
Career Education Corp.
(
CECO |
Quote |
Chart |
News |
PowerRating), up 1.29% on
below-average volume for an accumulation day.
Direct Focus Inc.
(
DFXI |
Quote |
Chart |
News |
PowerRating), up 1.59% on below-average volume.
Integra LifeSciences
(
IART |
Quote |
Chart |
News |
PowerRating),
on below-average volume.
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| Career Education Corp. | ( CECO | Quote | Chart | News | PowerRating) |
89 | 36 | + 0.46 | 768,600 |
| Direct Focus Inc. | ( DFXI | Quote | Chart | News | PowerRating) |
93 | 29.97 | + 0.47 | 684,600 |
| Integra Lifesciences | ( IART | Quote | Chart | News | PowerRating) |
90 | 27.54 | – 0.44 | 309,100 |
Stocks Building A Base
Company Name |
Symbol |
12 Month RS |
Price |
Price Change |
Average Volume |
| None |