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Friday, October 7, 2011

High Activity Detected: (FAS), (F), (QQQ), (EEM), (SDS)

The following stocks were detected to be trading among the most active on October 7: Direxion Daily Financial Bull 3X Shares, Ford Motor Co, PowerShares QQQ, iShares MSCI Emerging Markets Index, and ProShares UltraShort S&P500. 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 Direxion Daily Financial Bull 3X Shares (FAS) fell by 2.61% or $-0.30/share to $11.21. In the past year, the shares have traded as low as $8.43 and as high as $34.29. On average, 54732950 shares of FAS exchange hands on a given day and today's volume is recorded at 29904564. 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 $13.96 area but be careful because the stock may face selling pressure at this level.

Shares of Ford Motor Co. (F) traded higher by 1.14% or $0.13/share to $11.11. In the past year, the shares have traded as low as $9.05 and as high as $18.96. On average, 71772140 shares of F exchange hands on a given day and today's volume is recorded at 23737440. 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 $13.97 represents resistance and the 50-day moving average of $10.58 would be an area of support.

Shares of PowerShares QQQ (QQQ) fell by 0.31% or $-0.17/share to $54.26. In the past year, the shares have traded as low as $48.63 and as high as $59.72. On average, 88320700 shares of QQQ exchange hands on a given day and today's volume is recorded at 22577410. 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 $56.03 represents resistance and the 50-day moving average of $53.97 would be an area of support.

Shares of iShares MSCI Emerging Markets Index (EEM) traded higher by 0.42% or $0.15/share to $37.03. In the past year, the shares have traded as low as $33.41 and as high as $49.92. On average, 74903820 shares of EEM exchange hands on a given day and today's volume is recorded at 21292772. 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 $40.29 area but be careful because the stock may face selling pressure at this level.

Shares of ProShares UltraShort S&P500 (SDS) fell by 0.17% or $-0.04/share to $23.83. In the past year, the shares have traded as low as $19.48 and as high as $28.99. On average, 49210450 shares of SDS exchange hands on a given day and today's volume is recorded at 19500936. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $24.22 represents resistance and the 200-day moving average of $22.14 would be an area of support.