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Contributors: Douglas McIntyre Jon C. Ogg

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Monday, September 25, 2006

NASDAQ Sub-$5.00 Still Losing Interest, Yet Stocks Up

As you will see on the chart below, there has been a rotation out of some of the old sub-$5.00 most active names from this list with some new names. SUNW and LVLT have been hanging up above that $5.00 mark. We just lost CIEN due to its sham 1 for 7 reverse stock split, and soon we'll be losing JDS Uniphase (JDSU) to the same sort of reverse stock split. The only time it will likely appear back on the most actives is when it has substantial news. These new top 8 list of the "usual suspects" is representing less and less of the NASDAQ volume, although we'll have to check how that is during earnings season next month.

Ticker Last Change Volume
FNSR $ 3.46 $ 0.17 7,036,759
JDSU $ 2.20 $ 0.03 22,981,562
LVLT $ 5.34 $ 0.18 28,606,296
SIRI $ 3.92 $ 0.02 21,467,364
SUNW $ 5.13 $ 0.11 44,793,096
PMCS $ 6.60 $ 0.13 6,635,093
CNXT $ 1.86 $ 0.09 14,661,934
CHTR $ 1.53 $(0.02) 9,469,211




Total

155,651,315




NASDAQ

1,515,479,000



The market is playing follow my leader right now, and there is no refuting that. It is fairly easy to see where the money flows have been heading by looking at the volume today.

ORCL 46.2 million shares
MSFT 44.9 million shares
INTC 44.6 million shares
CSCO 31.3 million shares
AMAT 30.9 million shares
AAPL 27.3 million shares
BRCM 24.7 million shares

Total Volume from the horsemen leaders in each of their sectors: 249.9 million........

You wouldn't even want to compare the dollar volume of the shares at average prices. It is astronomically different. ORCL beat earnings and appears to have won in its field; MSFT is closer to Windows Vista, Zune, and anti-PS3 from Xbox360; INTC still getting bottom fishers, CSCO winning in convergence as the true winner, AMAT been catching bids, AAPL winning on iPod craze, and even BRCM re-catching some bids.

Jon C. Ogg
September 25, 2006
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