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Monday, October 10, 2011

High Activity Detected: (S), (BAC), (SPY), (XLF), (SIRI)

The following stocks were detected to be trading among the most active on October 10: Sprint Nextel Corp, Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, and SIRIUS XM Radio Inc. 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 Sprint Nextel Corp. (S) fell by 6.22% or $-0.15/share to $2.26. In the past year, the shares have traded as low as $2.25 and as high as $6.45. On average, 68634680 shares of S exchange hands on a given day and today's volume is recorded at 84771912. 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 $3.38 area but be careful because the stock may face selling pressure at this level.

Shares of Bank of America Corporation (BAC) traded higher by 5.93% or $0.35/share to $6.25. In the past year, the shares have traded as low as $5.13 and as high as $15.27. On average, 288570650 shares of BAC exchange hands on a given day and today's volume is recorded at 75099664. 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 $7.20 area but be careful because the stock may face selling pressure at this level.

Shares of SPDR S&P 500 (SPY) traded higher by 2.82% or $3.26/share to $118.97. In the past year, the shares have traded as low as $107.43 and as high as $135.80. On average, 308822410 shares of SPY exchange hands on a given day and today's volume is recorded at 64196296. 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 $126.73 represents resistance and the 50-day moving average of $117.57 would be an area of support.

Shares of Financial Select Sector SPDR (XLF) traded higher by 3.89% or $0.46/share to $12.29. In the past year, the shares have traded as low as $10.95 and as high as $17.03. On average, 121677060 shares of XLF exchange hands on a given day and today's volume is recorded at 25310332. 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 $12.63 area but be careful because the stock may face selling pressure at this level.

Shares of SIRIUS XM Radio Inc. (SIRI) traded higher by 6.57% or $0.10/share to $1.62. In the past year, the shares have traded as low as $1.24 and as high as $2.44. On average, 90715410 shares of SIRI exchange hands on a given day and today's volume is recorded at 22404488. 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 $1.76 area but be careful because the stock may face selling pressure at this level.