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Monday, October 17, 2011

Active Stocks: (QQQ), (WFC), (XLF), (IWM), (F)

The following stocks were detected to be trading among the most active on October 17: PowerShares QQQ, Wells Fargo & Company, Financial Select Sector SPDR, iShares Russell 2000 Index, and Ford Motor Co. 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 PowerShares QQQ (QQQ) fell by 0.67% or $-0.39/share to $57.79. In the past year, the shares have traded as low as $49.84 and as high as $59.72. On average, 87706620 shares of QQQ exchange hands on a given day and today's volume is recorded at 26163388. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $56.09 area.

Shares of Wells Fargo & Company (WFC) fell by 6.04% or $-1.61/share to $25.06. In the past year, the shares have traded as low as $22.58 and as high as $33.96. On average, 45153580 shares of WFC exchange hands on a given day and today's volume is recorded at 23061100. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $28.47 represents resistance and the 50-day moving average of $24.59 would be an area of support.

Shares of Financial Select Sector SPDR (XLF) fell by 1.9% or $-0.24/share to $12.36. In the past year, the shares have traded as low as $10.95 and as high as $17.03. On average, 123771110 shares of XLF exchange hands on a given day and today's volume is recorded at 22542912. 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 $12.45 area but be careful because the stock may face selling pressure at this level.

Shares of iShares Russell 2000 Index (IWM) fell by 1.81% or $-1.29/share to $69.85. In the past year, the shares have traded as low as $60.09 and as high as $86.22. On average, 88399670 shares of IWM exchange hands on a given day and today's volume is recorded at 22237956. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $77.72 represents resistance and the 50-day moving average of $68.15 would be an area of support.

Shares of Ford Motor Co. (F) fell by 0.69% or $-0.08/share to $11.48. In the past year, the shares have traded as low as $9.05 and as high as $18.97. On average, 72719650 shares of F exchange hands on a given day and today's volume is recorded at 22416674. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $13.81 represents resistance and the 50-day moving average of $10.51 would be an area of support.