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Contributors: Douglas McIntyre Jon C. Ogg

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Wednesday, July 12, 2006

Most Widely Traded 48 Hour Clock: The Under $5.00 Stocks

24/7 Wall St. has begun coverage of the 36 most widely traded stocks, eighteen each from the NYSE and the NASDAQ. Most of these stocks trade over 50 million shares a week. This new feature will highlight each of the 36 stocks at least every 48 hours giving investors fresh infomation and perspective on the companies whose shares are most likely to move the broader markets.

Stock Tickers: CIEN, FNSR, JDSU,LU, LVLT, SIRI, SUNW

We have been updating the "top 36" on actives by volume and by dollar volume. What is interesting is that after looking at all of the sub-$5.00 most actively traded stock is that these are almost all higher right after the open on a day that the overall market has gone weaker. These are also all related to tech and IT, and we have seen some cautionary comments on IBM (IBM) on its current business environment.

Below are the prices for these most actives, and these are all basically higher on no organic news so far. Is this a trend, or just some traders buying up the dogs in hopes that all the bad news is reflected in the prices?

Ticker Price Change
CIEN $4.22 +0.06
FNSR $3.38 +0.08
JDSU $2.19 +0.08
LU $2.23 +0.04
LVLT $4.44 +0.07
SIRI $4.32 unch.
SUNW $4.03 +0.13
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