Wednesday’s Top Names
The indices’ weak close and
short-term downtrends give a downside bias for Wednesday’s trading.
Lean to the short side while keeping an eye out for
a possible reversal intraday. When they occur, like they did on Monday, the
opportunity to make money on both sides of the market is a good way to
potentially add to your bottom line.
Hottest Sectors:
Retail
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) and Banks
(
$BKX.X |
Quote |
Chart |
News |
PowerRating).
Weakest Sectors: Computer Technology
(
$XCI.X |
Quote |
Chart |
News |
PowerRating)
and Semiconductors
(
$SOX.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 |
| American Axle | ( AXL | Quote | Chart | News | PowerRating) |
91 | 32.10 | 326,829 | 669,700 |
| Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) |
85 | 41.29 | 299,974 | 297,600 |
| OSI Systems |
( OSIS | Quote | Chart | News | PowerRating) |
87 | 24.85 | 752,649 |
1,271,000 |
| Wendy’s | ( WEN | Quote | Chart | News | PowerRating) |
82 | 37.30 | 810,309 | 2,206,900 |
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 |
| Andrx Corp. | ( ADRX | Quote | Chart | News | PowerRating) |
2 | 35.63 | 2,368,580 | 849,900 |
| Cabot Microelectronics | ( CCMP | Quote | Chart | News | PowerRating) |
10 | 57.85 | 1,288,752 | 1,238,000 |
| Enzon | ( ENZN | Quote | Chart | News | PowerRating) |
11 | 38.85 | 1,298,705 |
1,411,600 |
| IDEC Pharmaceuticals | ( IDPH | Quote | Chart | News | PowerRating) |
19 | 57.94 | 4,030,926 | 3,502,800 |
3 Month RS of 80
and higher with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Fortune Brands | ( FO | Quote | Chart | News | PowerRating) |
87 | 51.60 | 588,671 | 833,000 |
| SangStat Medical | ( SANG | Quote | Chart | News | PowerRating) |
90 | 26.72 | 414,161 | 542,400 |
| Pennzoil-Quaker State | ( PZL | Quote | Chart | News | PowerRating) |
98 | 21.50 | 1,833,595 | 644,400 |
| Rockwell-Collins | ( COL | Quote | Chart | News | PowerRating) |
86 | 23.06 | 469,066 | 576,500 |
Â
3 Month RS of 20 and lower with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| BellSouth | ( BLS | Quote | Chart | News | PowerRating) |
17 | 32.05 | 3,456,319 | 7,498,700 |
| Affymetrix | ( AFFX | Quote | Chart | News | PowerRating) |
10 | 23.30 | 1,218,780 | 983,000 |
| Macrovision | ( MVSN | Quote | Chart | News | PowerRating) |
5 | 22.81 | 469,080 | 635,600 |
| Cabot Microelectronics | ( CCMP | Quote | Chart | News | PowerRating) |
10 | 57.85 | 1,288,752 | 1,238,000 |
Stocks in Slim Jims
High RS at
or near high
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Group 1 Automotive | ( GPI | Quote | Chart | News | PowerRating) |
85 | 41.29 | 299,974 | 297,600 |
| ITT-Industries | ( ITT | Quote | Chart | News | PowerRating) |
85 | 66.30 | 437,189 | 399,100 |
| Laboratory Corp. | ( LH | Quote | Chart | News | PowerRating) |
86 | 97.15 | 667,198 | 595,600 |
Â
Low RS at
or near low
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Kronos | ( KRON | Quote | Chart | News | PowerRating) |
17 | 36.03 | 382,763 | 7,699,700 |
| Qualcomm | ( QCOM | Quote | Chart | News | PowerRating) |
4 | 35.02 | 16,124,834 | 10,076,400 |
| Veritas | ( VRTS | Quote | Chart | News | PowerRating) |
13 | 34.36 | 12,521,137 | 10,620,700 |
Â
Best of luck with your trading Wednesday. Please use
protective stops on trades.