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Thursday, September 8, 2011

Active Stocks: (XLF), (MU), (IWM), (FAS), (QQQ)

The following stocks were detected to be trading among the most active on September 8: Financial Select Sector SPDR, Micron Technology Inc, iShares Russell 2000 Index, Direxion Daily Financial Bull 3X Shares, and PowerShares QQQ. 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 Financial Select Sector SPDR (XLF) fell by 0.81% or $-0.10/share to $12.81. In the past year, the shares have traded as low as $11.81 and as high as $17.10. On average, 109105190 shares of XLF exchange hands on a given day and today's volume is recorded at 19906572. 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 $13.98 area but be careful because the stock may face selling pressure at this level.

Shares of Micron Technology Inc. (MU) traded higher by 6.45% or $0.39/share to $6.45. In the past year, the shares have traded as low as $5.18 and as high as $11.95. On average, 38747440 shares of MU exchange hands on a given day and today's volume is recorded at 16960876. 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 $6.73 area but be careful because the stock may face selling pressure at this level.

Shares of iShares Russell 2000 Index (IWM) traded higher by 0.2% or $0.14/share to $70.99. In the past year, the shares have traded as low as $62.29 and as high as $86.54. On average, 80371020 shares of IWM exchange hands on a given day and today's volume is recorded at 17932408. 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 $76.04 area but be careful because the stock may face selling pressure at this level.

Shares of Direxion Daily Financial Bull 3X Shares (FAS) fell by 2.06% or $-0.29/share to $13.76. In the past year, the shares have traded as low as $8.72 and as high as $34.29. On average, 39652970 shares of FAS exchange hands on a given day and today's volume is recorded at 16312111. 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 $19.44 area but be careful because the stock may face selling pressure at this level.

Shares of PowerShares QQQ (QQQ) traded higher by 0.48% or $0.26/share to $54.9. In the past year, the shares have traded as low as $45.45 and as high as $59.83. On average, 76877460 shares of QQQ exchange hands on a given day and today's volume is recorded at 15994175. 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 $55.61 area but be careful because the stock may face selling pressure at this level.