<HAND-HGSI>
Robert, are you subscribing to tradingmarkets.com?
<Selected stocks that have been strong relative to the market also
bucked the early downdraft and inspired the rebound. Handspring is
a case in point. Over the past week, HAND has rallied five out of
six days, while the Nasdaq has declined in the past five out of six
days. This price action shows the issue's superior strength
relative to the market. Handspring looked particularly strong
Wednesday, logging its low tick on the gap-down open and then
rallying to a fresh high on confirming volume in an outside-day-at
high pattern. Handspring is one of the session's best performer, up
10 11/16 at 88 9/16. This setup, and many others, were pointed out
on TradingMarkets' TradersWire.
Another early big winner on the session is Human Genome Sciences
(HGSI|) which is exhibiting serious signs of an intermediate-term
breakaway. The stock rallied out of its cup-with-handle after
tagging its 50-day. The past three days' action has been
particularly indicative of a runaway. After bouncing off its 50-day
MA, HGSI rallied on Oct. 16, Monday, to a new closing high on
expanded trade. On Tuesday, the stock lapped up to a new all-time
high and close. Wednesday, the stock popped lower with the
limit-down open in the Naz futures, hitting its low tick on the
open, only to turn around and rally a dozen points through par
(through 100) to a new all-time high in an outside day,
expansion-bar formation, very healthy.>
Sergio |
