Intraday's "STALK LIST" for Tuesday May 29 2001
Below is a list of some stocks we’ll be watching Tuesday along with key price levels that will lead us to consider a trade. We will be generating this list for our online clients several times each week, sometimes more frequently as market conditions warrant.
Please note that just because a stock trades to the alert price specified, it doesn’t mean we’ll necessarily enter… we’ll also be looking at the broader market action, related sector action, intraday price & volume charts for that issue, 3-minute futures charts, market internals/volume, relevant breaking news, etc. So please feel free to ask more in-depth educational questions of Deron, Ed, and myself online in the educational room.
Note, there are many more attractive long setups than short setups. That simply reflects the fact that the market has been soft for a few days. The Nasdaq, Dow, and S&P could easily pull in some more Tuesday... but we see it as risky to short against this multi-day pullback (on low volume) in what's basically a bullish environment. That doesn’t preclude shorting intraday patterns tomorrow if the market has a bad day, of course!
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Potential Shorts:
BAC < 58.50 with weakness in financials
caution, this would be a counter-trend trade
BAC appears to have begun a multi-day pullback on Friday.
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Potential Longs:
AFCI >21.60
ALL > 46.60 (pullback on declining volume)
AXP > 44.00 with strong financials
AZA > 47.80 w/strong $DRG
AMD >32.50 "
AMZN - watch for breakout >18, if $IIX strong
APCC >19 (pullback on declining volume)
BHI > 40 if $OSX strong
BRCD > 47 if $NWX rebounds, strong
BRCM > 41 w/positive $SOX
CSCO > 22.30 rebounding $NWX
DISH >34.30
EMLX 42.50 strong $NWX
EXTR >35 $NWX
FNSR >21 scalp long
GENE could scalp >13.80 careful- extended!
HGSI > 70 if $BTK strong
IDTI >44.50 if $SOX strong
IMNX >16.50 if $BTK strong
IWOV >21.80
MERQ > 68
MXIM > 55
NVLS > 53
PMCS > 38
QCOM > 68
RFMD > 30.5
SUNW > 20.80
TLAB > 39
VRSN > 63
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SECTOR NOTES
Make sure you check for relevant sector strength before entering a trade. We like the Semis and the Networkers as potential comeback plays early this week. Keep an eye on the internets, they rolled over last Tu/Wed, tried to recover Thu then gave it back Friday. Similar with the Biotechs - TBD this week. The Dow broke and uptrend line and we may see some much-needed corrective action there this week. Oil and Oil service looks poised for a rebound after a multi-week pullback in an uptrend. Consumer stocks rolled over Friday, and are setup for some weakness. And be on the lookout for Gold stocks to resume their climb, at least to the highs of a week ago Friday. In a nutshell, sector action is mixed and the market could do anything here, so enter selectively, stay nimble & keep the stops tight!
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BASING STOCKS
The following stocks appear to be building BASES after selling off... we'll track them for signs that they are starting to recover... some of these may make for very nice multi-day, or even multi-week LONGS at some point:
AKAM, ARTG, AVCI, AVNX, EPNY, GSPN, HAND, INKT, INTC, JDSU, JNPR, LVLT, MACR, MCHP, NEWP, NTAP, NTIQ, NUAN, NUFO, NXTL, ORCL, PWAV, PWER, QLTI, RBAK, RMBS, SAPE, SCMR, SEPR, SSTI, STOR TIBX, TXCC, VRSN, YHOO
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VOLATILITY HONOR ROLL
Here is a list of the MOST VOLATILE stocks on the Nasdaq, sorted by decreasing volatility. The most volatile stock in the Nasdaq (based on a 5-day average of the daily range) is NVDA (an incredible 6.8 point daily range). The least volatile stock in this list of wild stocks (SANM) still trades with a 2.4 point average daily range.
NVDA, FCEL, CCMP, PDLI, VRTS, QLGC, ABGX, GILD, WEBM, MERQ, BLDP, BRCD, DIGL, VRSN, CHKP, ENZN, EMLX, GHSI, SEBL, ISSX, GENZ, PLUG, NETE, IDPH, TMPW, CMVT, KLAC, MUSE, QCOM, BRCM, OPWV< EBAY, SMTC, RIMM, PMCS, PWER, ISIL, CPST, IDTI, RFMD, MEDI, LLTC, VRTX, SYMC, VSEA, XLNX, MCDT, ERTS, MXIM, CIEN, IMCL, AFFX, ONIS, GMST, JNPR, SCIO, TWTC, MANU, NVLS, MLNM, NEWP, QSFT, EXTR, AMGN, SNPS, VSTR, VTSS, CREE, AMAT, CHIR, SANM.
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Good trading,
Steve, Deron, & Ed
Intraday Investments |
