High Volume High- Jan 23 Trading Day Edition

Quite a few names making new highs all considering the weakness in the overall market in Thursday's trading. One name that jumped out to me, for no other reason that I am looking at the company/stock for other reasons, is RFP. The wood, newsprint, and pulp producer recently emerged from a 2009 bankruptcy, and now has little debt and assets that far surpass the total liability profile. The stock is of interest to me as it looks attractive on an adjusted balance sheet value screen I am working on. Potentially more on this to come.

Volume Off the High- Jan 23 Trading Day Edition

Many a name came off their highs in last Thursday trading, with most being earnings related. One that did stick out to me was BIDU, which was off after the SEC essentially called into question the integrity of Chinese auditing firms (wow, that is a little late to game.). Technically speaking, BIDU looks weak, as it not only broke its 50 day moving average on volume, but also moved through the Oct. 30 resistance level. The next price/volume resistance is the gap that opened between the $110 and $120 price level, some $40 lower from present prices. Although a judge's ruling may not be the omnipresent reason for a gap to close it still bears watching.

High Volume High- Jan. 24 Trading Day Edition

Most of the action in last Friday's trading occurred on the other side of ledger. I guess with the S&P 500 down 200 basis points, investors were not in a buying mood. That said, the names that did gain in such a weak market should be watched in my opinion.

Volume Off the High- Jan 24 Trading Day Edition

Just way too many to go through each individually. The number of names undoubtedly increased with the market getting hammered. One theme I did discern from perusing the 200+ names making the initial screening test was that there were quite a few companies coming off hard, on volume, that I would characterize as manufacturing sensitive names. This includes companies like (and not all made the final cut mind you) KMT, FAST, KEY, and other industrial related names. Probably something to be mindful of.