Stocks Showing Unusually Heavy Volume - Ambac Financial Group, Corning Inc, Newport Corp, Idenix Pharmaceuticals

9/4/2008 7:51 AM

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Here are the results for today's unusual stock volume scan. The scan looks at the previous day's volume and compares it to the recent average volume. It then sorts the stocks based on those that showed the biggest increase (the "unusual" part) in volume.

Companies included in today's scan are: Idenix Pharmaceuticals (IDIX), Union Drilling, Inc. (UDRL), Joy Global (JOYG), Corning Incorporated (GLW), Forest Laboratories (FRX), Ceradyne (CRDN), Shanda Interactive Entertainment (SNDA), ConAgra Foods (CAG), Timberland (TBL), Clean Energy Fuels Corp. (CLNE), Super Micro Computer, Inc. (SMCI), Temple-Inland (TIN), Regeneron Pharmaceuticals (REGN), Ciber (CBR), Newport Corp. (NEWP), E.W. Scripps (SSP), Trex Co (TWP), Take-Two Interactive Software (TTWO), Tenet Healthcare (THC), Isle of Capris Casinos (ISLE), Analog Devices (ADI), Applera Corp. (CRA), MEMC Electronic Materials (WFR), Human Genome Sciences (HGSI), Ambac Financial Group (ABK).

These are the top stocks from today's scan, which has some basic filters to eliminate penny stocks and those that don't trade frequently. A description of the column headings is below.

Move Previous Day - yesterday's percent return.
Volume Increase - looks at the previous day's volume and compares it to the recent average volume. It then sorts the stocks based on those that showed the biggest increase (the "unusual" part) in volume.
Close - yesterday's closing price.
Total Ratings - number of analysts who track the stock, according to Zacks.
Buy Percent - percent of the analysts who rate the stock as a "buy". I use this to help gauge sentiment and potential buying demand. If everyone already loves a stock, that means a steady stream of new money will need to enter the stock to fuel a rally.

Note - sentiment data is current as of the previous trading day...

-posted by Nick Perry
9/4/2008 7:51 AM