re: "So what do we do?"
As the old zen trading masters sometimes advise, "doing" isn't always the answer.
Are the apparent odds sufficient to take long positions or make good short term trades?
1. July 4th period is usually positive
2. After that its been down going into August
3. Interest rate cut anticipation next week and some buying on warnings dips giving the appearance of complacency.
4. As you note this is showing in VIX / VXN.
Therefore the minor trend seems to be up, if only to get out after the holidays.
In anticipation of a short the most overbought mid value Naz stocks right now are:
Symbol Name Close Change % Change Volume % Off 52-Wk High % Off 52-Wk Low
ADRX Andrx Corporation 70.89 -0.96 -1.34% 598,400 31.72% 68.28% C | J | Q | E | N
APOL Apollo Group, Inc. 38.60 -0.67 -1.71% 572,700 47.64% 52.36% C | J | Q | E | N
CEGE Cell Genesys, Inc. 19.90 -0.45 -2.21% 366,000 79.24% 20.76% C | J | Q | E | N
CITC Citadel Communications 25.91 +0.06 0.23% 671,800 68.92% 31.08% C | J | Q | E | N
CPRT Copart, Inc. 26.41 -0.59 -2.19% 768,700 4.42% 95.58% C | J | Q | E | N
DFXI Direct Focus, Inc. 41.90 0.00 0.00% 272,200 19.45% 80.55% C | J | Q | E | N
EXPE Expedia, Inc. 39.57 -1.48 -3.61% 1,404,500 29.78% 70.22% C | J | Q | E | N
IMMU Immunomedics, Inc. 19.79 +0.35 1.80% 349,400 55.10% 44.90% C | J | Q | E | N
INHL Inhale Therapeutic Syst. 34.65 -0.79 -2.23% 1,453,000 51.04% 48.96% C | J | Q | E | N
LAMR Lamar Advertising Company 43.50 -0.42 -0.96% 304,300 69.77% 30.23% C | J | Q | E | N
LNCR Lincare Holdings Inc. 64.99 -1.46 -2.20% 513,700 4.77% 95.23% C | J | Q | E | N
LPNT Lifepoint Hospitals, Inc. 39.70 -0.07 -0.18% 414,700 28.56% 71.44% C | J | Q | E | N
MVSN Macrovision Corporation 58.55 -0.35 -0.59% 590,600 63.51% 36.49% C | J | Q | E | N
NPSP NPS Pharmaceuticals, Inc. 36.00 -0.63 -1.72% 252,400 41.12% 58.88% C | J | Q | E | N
NYCB New York Community Bncrp. 37.29 +0.23 0.62% 324,700 37.95% 62.05% C | J | Q | E | N
OPMR Optimal Robotics Corp. 36.90 +1.81 5.16% 1,056,000 25.01% 74.99% C | J | Q | E | N
OSIP OSI Pharmaceuticals, Inc. 53.05 -1.09 -2.01% 264,600 40.49% 59.51% C | J | Q | E | N
PETM PETsMART, Inc. 6.16 0.00 0.00% 1,595,100 93.34% 6.66% C | J | Q | E | N
RCGI Renal Care Group, Inc. 29.23 -0.39 -1.32% 451,700 5.27% 94.73% C | J | Q | E | N
SEPR Sepracor Inc. 36.05 -0.05 -0.14% 791,000 74.28% 25.72% C | J | Q | E | N
SONE S1 Corporation 13.85 +0.34 2.52% 304,700 93.21% 6.79% C | J | Q | E | N
TWTR Tweeter Home Entertain. 32.25 +1.27 4.10% 1,213,100 35.91% 64.09% C | J | Q | E | N
WEBX WebEx Communications, Inc 26.30 -0.35 -1.31% 1,432,100 59.88% 40.12% C | J | Q | E | N
Most Oversold mid valuation Naz stocks are:
Symbol Name Close Change % Change Volume % Off 52-Wk High % Off 52-Wk Low
ADTN ADTRAN, Inc. 20.10 +0.46 2.34% 399,700 75.06% 24.94% C | J | Q | E | N
AKAM Akamai Technologies, Inc. 6.93 -0.01 -0.14% 1,789,200 99.58% 0.42% C | J | Q | E | N
AMCC Applied Micro Circuits 13.89 -0.16 -1.14% 11,945,500 97.32% 2.68% C | J | Q | E | N
ASMI ASM International N.V. 19.44 +0.38 1.99% 429,300 64.09% 35.91% C | J | Q | E | N
CAKE Cheesecake Factory, The 25.45 -1.22 -4.57% 415,000 74.68% 25.32% C | J | Q | E | N
CHRT Chartered Semiconductor 25.98 +0.33 1.29% 429,400 94.64% 5.36% C | J | Q | E | N
CKFR CheckFree Holdings Corp. 32.35 -0.20 -0.61% 302,300 91.84% 8.16% C | J | Q | E | N
CRUS Cirrus Logic, Inc. 18.65 -0.51 -2.66% 705,900 75.53% 24.47% C | J | Q | E | N
EAGL EGL, Inc. 14.76 -0.72 -4.65% 1,612,700 99.96% 0.04% C | J | Q | E | N
EDSN Edison Schools, Inc. 19.50 -0.50 -2.50% 348,600 74.04% 25.96% C | J | Q | E | N
EMBT Embarcadero Technologies 20.76 -2.67 -11.40% 393,400 81.32% 18.68% C | J | Q | E | N
EPNY E.piphany, Inc. 8.95 -0.83 -8.49% 647,500 98.91% 1.09% C | J | Q | E | N
EXTR Extreme Networks, Inc 24.36 -3.41 -12.28% 8,463,700 81.18% 18.82% C | J | Q | E | N
GBBK Greater Bay Bancorp 24.20 -0.90 -3.59% 630,100 92.18% 7.82% C | J | Q | E | N
ICIX Intermedia Communications 13.52 -0.71 -4.99% 3,980,200 86.58% 13.42% C | J | Q | E | N
IDTI Integrated Device Tech. 27.09 +0.53 2.00% 1,893,000 94.66% 5.34% C | J | Q | E | N
ISIL Intersil Holding Corp. 30.05 0.00 0.00% 318,300 77.00% 23.00% C | J | Q | E | N
IWOV Interwoven, Inc. 15.00 -2.41 -13.84% 3,441,400 93.02% 6.98% C | J | Q | E | N
KLIC Kulicke and Soffa Inds. 14.45 +0.03 0.21% 328,500 84.27% 15.73% C | J | Q | E | N
MACR Macromedia, Inc. 19.40 -0.86 -4.24% 423,700 94.40% 5.60% C | J | Q | E | N
MCCC Mediacom Communications 16.26 +1.04 6.83% 18,215,300 42.84% 57.16% C | J | Q | E | N
MENT Mentor Graphics Corp. 20.05 -1.88 -8.57% 2,095,300 40.38% 59.62% C | J | Q | E | N
MUSE Micromuse, Inc. 25.38 -1.60 -5.93% 4,113,100 88.32% 11.68% C | J | Q | E | N
NETA Networks Associates, Inc. 10.60 -1.97 -15.67% 5,720,300 78.34% 21.66% C | J | Q | E | N
NETE Netegrity, Inc. 30.14 -3.65 -10.80% 2,384,800 62.73% 37.27% C | J | Q | E | N
PLAB Photronics, Inc. 23.20 +1.06 4.79% 260,800 50.15% 49.85% C | J | Q | E | N
PLUG Plug Power Inc. 18.73 -1.00 -5.05% 291,100 93.48% 6.52% C | J | Q | E | N
PLXS Plexus Corp. 24.61 -1.03 -4.02% 701,200 90.77% 9.23% C | J | Q | E | N
PRSF Portal Software Inc. 3.75 -0.28 -6.95% 932,000 95.78% 4.22% C | J | Q | E | N
RTEC Rudolph Technologies Inc. 40.88 -0.17 -0.41% 299,900 49.57% 50.43% C | J | Q | E | N
SIVB Silicon Valley Bancshares 22.05 -3.81 -14.73% 3,824,000 89.02% 10.98% C | J | Q | E | N
STLW Stratos Lightwave, Inc. 9.84 +0.24 2.50% 587,800 92.05% 7.95% C | J | Q | E | N
TXCC TranSwitch Corporation 7.23 -0.17 -2.30% 2,156,500 99.21% 0.79% C | J | Q | E | N
UTSI UTStarcom, Inc. 20.54 +0.19 0.93% 873,200 89.87% 10.13% C | J | Q | E | N
VECO Veeco Instruments, Inc. 36.35 -1.48 -3.91% 392,200 69.91% 30.09% C | J | Q | E | N
VRTA Virata Corporation 9.49 +0.40 4.40% 434,200 97.43% 2.57% C | J | Q | E | N
XOXO Nextlink Communications 1.83 +0.20 12.27% 8,235,200 99.14% 0.86% C | J | Q | E | N |
