Wednesday’s Top Names
Stocks surged on the FOMC’s 50 basis point
interest rate cut, as rates were lowered to 2.00%, their lowest level since
1961.Today’s action puts the Nasdaq Composite
(
$COMPX |
Quote |
Chart |
News |
PowerRating) and the
S&P 500
(
$SPX.X |
Quote |
Chart |
News |
PowerRating) over the top of their recent trading ranges, and the
Dow Industrials
(
$INDU |
Quote |
Chart |
News |
PowerRating) touching the top of its range. The charts
appear to be in a bullish position with some room to move higher, but be ready
to switch sides if the tide turns.
Hottest Sectors: Computer Technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating),
Semiconductors
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) and Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating).
Weakest Sectors: Oil
(
$OSX.X |
Quote |
Chart |
News |
PowerRating) and Airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating)
Wednesday’s stocks
to watch:
3 Month RS of 80 and higher and close in top
part of
range
Â
|
Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Accredo Health |
( ACDO | Quote | Chart | News | PowerRating) |
87 | 37.00 | 436,469 |
260,100 |
| Aviron | ( AVIR | Quote | Chart | News | PowerRating) |
91 | 34.88 | 854,652 | 438,600 |
Mercury Computer |
( MRCY | Quote | Chart | News | PowerRating) |
92 | 46.45 | 546,017 |
299,600 |
| Websense | ( WBSN | Quote | Chart | News | PowerRating) |
99 | 26.66 | 379,502 | 761,600 |
Â
3 Month RS of 20 or lower
and close in bottom part of range
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| CNA Financial | [CNA|CNA | 9 | 26.60 | 430,891 | 138,100 |
| CSG Systems | ( CSGS | Quote | Chart | News | PowerRating) |
4 | 33.96 | 656,535 | 561,700 |
Express Scripts |
( ESRX | Quote | Chart | News | PowerRating) |
5 | 43.10 | 1,991,880 |
1,458,800 |
| Rent-a-Center | ( RCII | Quote | Chart | News | PowerRating) |
6 | 23.70 | 561,417 | 570,300 |
Â
3 Month RS of 80
and higher with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Protein Design Labs |
( PDLI | Quote | Chart | News | PowerRating) |
96 | 37.15 | 2,906,681 |
2,110,400 |
| International Business Machines | ( IBM | Quote | Chart | News | PowerRating) |
80 | 114.19 | 16,028,395 | 11,140,100 |
| Nokia | ( NOK | Quote | Chart | News | PowerRating) |
80 | 23.06 | 13,237,395 | 15,07,000 |
Â
Stocks in Slim Jims
High RS at
or near high
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Aviron | ( AVIR | Quote | Chart | News | PowerRating) |
91 | 34.88 | 854,652 | 438,600 |
| Blockbuster Entertainment | ( BBI | Quote | Chart | News | PowerRating) |
96 | 28.12 | 747,029 | 1,765,300 |
| Broadcom | ( BRCM | Quote | Chart | News | PowerRating) |
92 | 41.43 | 12,922,769 | 8,818,000 |
Low RS at
or near low
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Elan Corp. | ( ELN | Quote | Chart | News | PowerRating) |
18 | 45.40 | 1,540,254 | 1,546,800 |
Â
Best of luck with your trading Wednesday. Please use
protective stops on all trades.