Wednesday’s Top Names
Tuesday the indices made good
on several sell signals, continuing down out of false rallies on the daily chart
or triggering for day one to the downside.
With the setups tonight that look the best, the bias
remains to the downside, as they outnumber the good-looking setups to the long
side. Keep in mind, however, that things can change fast. Most traders cannot
adapt when they do, so be aware and have your longs ready to go in the event we
see buyers step in.
Hottest Sectors:
Airlines
(
$XAL.X |
Quote |
Chart |
News |
PowerRating).
Weakest Sectors: Software
(
$GSO.X |
Quote |
Chart |
News |
PowerRating)
and Broker/Dealers
(
$XBD.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) |
87 | 38.10 | 451,154 |
450,600 |
| CBRL Group | ( CBRL | Quote | Chart | News | PowerRating) |
87 | 32.51 | 929,652 | 901,000 |
| Dean Foods |
( DF | Quote | Chart | News | PowerRating) |
92 | 66.95 | 449,722 |
519,700 |
| Express Scripts | ( ESRX | Quote | Chart | News | PowerRating) |
92 | 52.25 | 1,390,542 | 2,340,700 |
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 |
| Affymetrix | ( AFFX | Quote | Chart | News | PowerRating) |
5 | 24.85 | 2,010,946 | 1,153,800 |
| Allegan | ( AGN | Quote | Chart | News | PowerRating) |
17 | 67.40 | 968,243 | 1,121,600 |
| Cabot Microelectronics |
( CCMP | Quote | Chart | News | PowerRating) |
6 | 55.03 | 1,160,318 |
1,405,300 |
| Genesis Microchip | ( GNSS | Quote | Chart | News | PowerRating) |
11 | 40.25 | 3,200,765 | 3,969,100 |
3 Month RS of 80
and higher with volume surge in last hour
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| CBRL Group | ( CBRL | Quote | Chart | News | PowerRating) |
87 | 32.51 | 929,652 | 901,000 |
| Target Stores | ( TGT | Quote | Chart | News | PowerRating) |
83 | 43.61 | 4,125,025 | 6,357,100 |
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 |
| SeaChange International | ( SEAC | Quote | Chart | News | PowerRating) |
12 | 22.10 | 907,795 | 1,567,300 |
| Abgenix | ( ABGX | Quote | Chart | News | PowerRating) |
16 | 22.08 | 1,779,175 | 3,407,200 |
| Computer Associates | ( CA | Quote | Chart | News | PowerRating) |
11 | 25.31 | 5,540,180 | 6,609,500 |
| Andrx Corp. | ( ADRX | Quote | Chart | News | PowerRating) |
2 | 42.95 | 5,571,425 | 2,109,300 |
Stocks in Slim Jims
High RS at
or near high
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Mandalay Resorts | ( MBG | Quote | Chart | News | PowerRating) |
89 | 27.80 | 577,882 | 423,800 |
| Smith International | ( SII | Quote | Chart | News | PowerRating) |
82 | 57.98 | 1,200,931 | 986,000 |
Â
Low RS at
or near low
Company Name |
Symbol |
Relative Strength |
Price |
Average Volume |
Today’s Volume |
| Lehman Bros. | ( LEH | Quote | Chart | News | PowerRating) |
15 | 55.43 | 2,258,829 | 4,259,900 |
| Mercury Interactive | ( MRCY | Quote | Chart | News | PowerRating) |
7 | 31.00 | 425,145 | 275,500 |
| Vivendi Universal | ( V | Quote | Chart | News | PowerRating) |
8 | 37.55 | 303,451 | 582,400 |
Â
Best of luck with your trading Wednesday. Please use
protective stops on trades.