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Wednesday, August 24, 2011

Substantial Trading Activity: (BAC), (SPY), (XLF), (GLD), (IWM)

The following stocks were detected to be trading among the most active on August 24: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, SPDR Gold Shares, and iShares Russell 2000 Index. These stocks are highly traded usually because new relevant information on the company has become available. Being on the highly active list isn't always positive as high activity may be a result of negative news. Regardless, high activity means high liquidity. High volume, combined with price movement is what traders require to make profits.

Shares of Bank of America Corporation (BAC) traded higher by 7.59% or $0.48/share to $6.78. In the past year, the shares have traded as low as $6.01 and as high as $15.29. On average, 212052770 shares of BAC exchange hands on a given day and today's volume is recorded at 231971072. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $9.49 area but be careful because the stock may face selling pressure at this level.

Shares of SPDR S&P 500 (SPY) traded higher by 0.43% or $0.50/share to $116.94. In the past year, the shares have traded as low as $102.24 and as high as $136.50. On average, 261600780 shares of SPY exchange hands on a given day and today's volume is recorded at 72027456. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $126.72 area but be careful because the stock may face selling pressure at this level.

Shares of Financial Select Sector SPDR (XLF) traded higher by 1.67% or $0.21/share to $12.57. In the past year, the shares have traded as low as $11.81 and as high as $17.08. On average, 105082270 shares of XLF exchange hands on a given day and today's volume is recorded at 37604560. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $14.37 area but be careful because the stock may face selling pressure at this level.

Shares of SPDR Gold Shares (GLD) fell by 2.46% or $-4.37/share to $173.3. In the past year, the shares have traded as low as $118.71 and as high as $184.81. On average, 19179830 shares of GLD exchange hands on a given day and today's volume is recorded at 27866196. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $157.95 area where the stock will likely see buying pressure.

Shares of iShares Russell 2000 Index (IWM) traded higher by 0.59% or $0.40/share to $68.59. In the past year, the shares have traded as low as $58.09 and as high as $86.55. On average, 78855160 shares of IWM exchange hands on a given day and today's volume is recorded at 25048036. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $77.83 area but be careful because the stock may face selling pressure at this level.