Wednesday’s Top Names
So much for Mr. Greenspan and crew’s magic. Just
as things started to really get cooking, Merck
(
MRK |
Quote |
Chart |
News |
PowerRating) had to come in
with its earnings bomb and be a wet blanket on the party. Let today’s activity
be a lesson in just how quickly the legs can get knocked out from under any
market. Always, always have trades ready to go each way in the event of a market
turn. The indices held up fairly well in spite of the bad news, and the charts
are still showing uptrends, with a pullback from highs. Look to go to the long
side if we get another push to the upside, or short if the three-day trend
continues.
Hottest Sectors: Semiconductors
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) and Chemicals
(
$CEX.X |
Quote |
Chart |
News |
PowerRating).
Weakest Sectors: Drugs
(
$DRG.X |
Quote |
Chart |
News |
PowerRating) and
Utilities
(
$UTY.X |
Quote |
Chart |
News |
PowerRating).
Wednesday’s stocks to
watch:
3 Month RS of 80 and higher and close in top
part of
range
|
Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
Action Performance Companies |
( ACTN | Quote | Chart | News | PowerRating) |
96 | 35.69 | 411,883 |
454,800 |
| Cabot Microelectronics | ( CCMP | Quote | Chart | News | PowerRating) |
80 | 78.55 | 1,514,649 | 1,467,100 |
| eBay | ( EBAY | Quote | Chart | News | PowerRating) |
82 | 70.10 | 9,049,163 |
8,295,300 |
| Insight Enterprises | ( NSIT | Quote | Chart | News | PowerRating) |
84 | 22.60 | 301,665 | 470,900 |
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 |
| Cardinal Health | ( CAH | Quote | Chart | News | PowerRating) |
10 | 63.70 | 2,445,406 | 2,754,600 |
| Dominion Resources | ( D | Quote | Chart | News | PowerRating) |
13 | 56.20 | 1,120,203 | 814,700 |
Pinnacle West Capital |
( PNW | Quote | Chart | News | PowerRating) |
13 | 39.35 | 378,154 |
300,600 |
| TOO Inc. | ( TOO | Quote | Chart | News | PowerRating) |
16 | 25.36 | 335,188 | 806,00 |
3 Month RS of 80
and higher with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Sanmina | ( SANM | Quote | Chart | News | PowerRating) |
95 | 25.60 | 11,152,947 | 28,934,900 |
| Macromedia | ( MACR | Quote | Chart | News | PowerRating) |
94 | 25.46 | 1,080,990 | 3,140,800 |
| F5 Networks |
( FFIV | Quote | Chart | News | PowerRating) |
98 | 27.45 | 655,066 |
2,631,600 |
| Jabil Circuit | ( JBL | Quote | Chart | News | PowerRating) |
90 | 30.71 | 2,087,109 | 1,433,000 |
Stocks in Slim Jims
High RS at
or near high
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Action Performance Companies | ( ACTN | Quote | Chart | News | PowerRating) |
96 | 35.69 | 411,883 | 454,800 |
Computer Sciences Corp. |
( CSC | Quote | Chart | News | PowerRating) |
81 | 49.16 | 1,201,937 |
1,219,500 |
| Microtune | ( TUNE | Quote | Chart | News | PowerRating) |
94 | 23.56 | 945,215 | 1,457,700 |
Low RS at
or near low
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Dominion Resources | ( D | Quote | Chart | News | PowerRating) |
13 | 56.20 | 1,120,203 | 814,700 |
| The Kroger Company |
( KR | Quote | Chart | News | PowerRating) |
6 | 19.92 | 3,351,589 |
41,105,100 |
| Pinnacle West Capital | ( PNW | Quote | Chart | News | PowerRating) |
13 | 39.35 | 378,154 | 300,600 |
Â
Best of luck with your trading Wednesday. Please use
protective stops on trades.