Watch List:
SYMBOL CLOSE CHANGE CHANGE %
XCIT 110 42.5 62.96%
PSIX 34.25 5.687 19.91%
GADZ 8.75 1.312 17.64%
INTU 98.313 13.125 15.41%
RNWK 63.25 8.25 15.00%
IMON 6.563 0.719 12.30%
ORCL 51.688 4.563 9.68%
SYBS 8.844 0.563 6.80%
FRTE 8.563 0.5 6.20%
GM 88 4.687 5.63%
SEG 44 1.875 4.45%
VVUS 3.031 0.125 4.30%
QCOM 66.5 2.625 4.11%
ASND 89.438 3.25 3.77%
CYMI 21.5 0.625 2.99%
MXTR 19.313 0.375 1.98%
NOVL 20.438 0.375 1.87%
RATL 31.5 0.437 1.41%
PSTA 2.313 0.032 1.40%
CIEN 19 0.062 0.33%
INFS 11.125 -0.125 -1.11%
RDRT 19.125 -0.375 -1.92%
NAVR 17.563 -0.375 -2.09%
GBFE 1.5 -0.219 -12.74%
I wasa little surprised that GBFE showed up on the screens,
given that it was down 12.7%. The screens are composed
of a relative strength index, TRIX, Rate of Change, Bull Power,
Parabolic SAR, Stochastic Oscillator, MACD and Linear Regression
Forecast metric. It reduced the 201 equities I follow usually
to about 50 or so. In strong up markets I may get as many as 80.
Tonight I got only the 24 tickers listed above. That was interesting
as the Trading Strategy I employ to filter longer lists further
listed long positions for 62 stocks and short positions for 96.
73 stocks closed down, 8 closed equal to yesterday, and 120 closed up.
Of the 120 closing up, the average gain over Friday's close was only
about 5.6%, with 13 stocks closing above 10% gain. About 97 of the
120 stocks were up less than 6%. All of this means that there was
a broad improvement in the markets today.
The Linear Regression Forecast line since the 10/8 tanking is still
parallel with the tendline connected between the lows of 10/14/98
and 1/15/99. A low tomorrow for the SPX below 1223 to 1224 would
break that to the downside.
So the market actually looks okay for the short term (this week).
Today's high on the SPX still maintained the right shoulder pattern
of a Head and Shoulders though. Come to think of it,
if it does make a high soon, everyone will probably say its
forming a double top...
lastshadow
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