Wednesday’s Top Names
The ETFs gapped higher on Tuesday, and then
after consolidating for much of the session, rallied to close well off of an
oversold technical condition. Volume was
light on the day with mixed internals as many market participants stayed on the
sidelines ahead of an intraday FOMC meeting that wrapped up during the second
half of trade.
Wednesday should provide better technical evidence as to
what the next move will be, as institutional volume should once again pick up.
With prices closing well after a several days of selling, the long side will be
favored going into the day, but as always, the only way to stay in the game is
to be prepared for action from both sides of the market.
Hottest Sectors (HOLDRs): Semiconductors
(
SMH |
Quote |
Chart |
News |
PowerRating), Internet
(
HHH |
Quote |
Chart |
News |
PowerRating), and Software
(
SWH |
Quote |
Chart |
News |
PowerRating)
Weakest Sectors (HOLDRs): Biotech
(
BBH |
Quote |
Chart |
News |
PowerRating) and
Pharmaceuticals
(
PPH |
Quote |
Chart |
News |
PowerRating)
Wednesday’sHELVETICA> stocks to watch:
color=#008000 Helvetica>3 Month RS of 80 and highercolor=#000000 Helvetica> color=#008000 Helvetica> and close in top part of
range
size=2>Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Expeditors Int’l. | ( EXPD | Quote | Chart | News | PowerRating) | 81 | 34.20 | 570,000 | 1,306,000 |
| Omnivision Tech. | ( OVTI | Quote | Chart | News | PowerRating) | 98 | 17.65 | 822,000 | 1,130,000 |
| Verisity | ( VRST | Quote | Chart | News | PowerRating) | 84 | 19.02 | 248,000 | 410,000 |
Weak RS issues closing in
Bottom of Range.
Stocks
are scanned from 3 Month RS of 20 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.
| color=#ffffff size=2>Company Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Activision | ( ATVI | Quote | Chart | News | PowerRating) | 4 | 17.01 | 3,700,000 | 9,129,000 |
| Amerisourcebergen | ( ABC | Quote | Chart | News | PowerRating) | 13 | 59.91 | 1,850,000 | 2,900,000 |
| IDEC Pharmaceuticals | ( IDPH | Quote | Chart | News | PowerRating) | 8 | 34.12 | 5,200,000 | 4,650,000 |
3 Month RS of 80 and higher with
volume surge in last hour
| color=#ffffff size=2>Company Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Expeditors Int’l. | ( EXPD | Quote | Chart | News | PowerRating) | 81 | 34.20 | 570,000 | 1,306,000 |
| Covance Inc. | ( CVD | Quote | Chart | News | PowerRating) | 83 | 24.13 | 418,000 | 647,000 |
Weak RS issues
closing in Bottom of Range with
volume surge in last hour.
Stocks are scanned
from 3 Month RS of 20 or lower and TM’s Implosion and Technology Implosion Lists
on the Indicators page.
| color=#ffffff size=2>Company Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Trimeris | ( TRMS | Quote | Chart | News | PowerRating) | 15 | 42.85 | 561,000 | 309,000 |
| Activision | ( ATVI | Quote | Chart | News | PowerRating) | 4 | 17.01 | 3,700,000 | 9,129,000 |
| Catalina Marketing | ( POS | Quote | Chart | News | PowerRating) | 5 | 18.51 | 592,000 | 501,600 |
Stocks in Slim
Jims
High RS at or near high
| color=#ffffff size=2>Company Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Patterson Energy | ( PTEN | Quote | Chart | News | PowerRating) | 86 | 31.71 | 1,114,000 | 1,265,000 |
| Black Box Corp. | ( BBOX | Quote | Chart | News | PowerRating) | 85 | 47.40 | 397,000 | 480,056 |
Weak RS issues near lows.
Stocks
are scanned from 3 Month RS of 20 or lower and TM’s Implosion and Technology
Implosion Lists on the Indicators page.
| color=#ffffff size=2>Company Name | class=890430920-15102001>Symbol | class=890430920-15102001>Relative Strength | class=890430920-15102001> size=2>Price | class=890430920-15102001>Average Volume | class=890430920-15102001>Today’s Volume |
| Forest Labs | ( FRX | Quote | Chart | News | PowerRating) | 63 | 93.11 | 2,200,000 | 5,200,000 |
Best of luck with your trading Wednesday. Please use
protective stops on trades.