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AFTER MARKET UPDATE - FRIDAY, OCTOBER 20TH, 2017
Previous After Market Report Next After Market Report >>>
Indices NYSE Nasdaq
DOW  +165.59 23,328.63 +0.71% Volume 900,174,230 +27% Volume 1,796,806,317 -2%
NASDAQ +23.98 6,629.05 +0.36% Advancers 1,785 61% Advancers 1,495 59%
S&P 500 +13.11 2,575.21 +0.51% Decliners 1,146 39% Decliners 1,041 41%
Russell 2000 +7.20 1,509.25 +0.48% 52 Wk Highs 249   52 Wk Highs 248  
S&P 600 +5.21 913.75 +0.57% 52 Wk Lows 39   52 Wk Lows 36  

Major Indices Extend Record Rally

For the week, the S&P 500 climbed 0.8% while the Dow gained 2.0% and the Nasdaq advanced 0.3%. Stocks finished at record highs Friday. The Dow added 165 points to 23328. The S&P 500 gained 13 points to 2575. The Nasdaq Composite climbed 23 points to 6629. Volume totals reported were mixed, higher than the prior session total on the NYSE and lower on the Nasdaq exchange. Advancers led decliners by about a 3-2 margin on the NYSE and on the Nasdaq exchange. There were 128 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 51 on the prior session. New 52-week highs totals expanded and solidly outnumbered new 52-week lows totals on the Nasdaq exchange and on the NYSE. ThFeatured Stocks Page provides the latest analysis on noteworthy high-ranked leaders.
Charts used courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index is perched at a new record high.

The major averages' (M criteria) are in a confirmed uptrend. Leadership has remained healthy.  Investors should buy stocks meeting all key criteria of the fact-based investment system on a case-by-case basis as they trigger technical buy signals.

The major averages posted gains for the sixth consecutive week as investors remained optimistic that tax reform will occur before year end. On Thursday, the Senate passed a budget measure, which will allow the Republicans to pass reforms without the Democrats support. On the data front, a report today showed existing home sales unexpectedly rose 0.7% in September versus projections of a 1.0% decline.

Nine of 11 S&P 500 sectors were higher Friday. Financials stocks rallied as JP Morgan (JPM +1.43%) and Goldman Sachs (GS +1.98%) rose on positive analyst commentary. Technology also outperformed as PayPal (PYPL +5.53%) rallied after its earnings topping analyst estimates. In other earnings news, General Electric (GE +1.06%) pared earlier losses and finished higher after a mixed earnings release. In Healthcare, Celgene (CELG -10.76%) fell on negative analyst commentary, while Intuitive Surgical (ISRG +3.39%) rose after topping analyst forecasts.

Treasuries were lower as the yield on the benchmark 10-year note climbed six basis points to 2.38%. In commodities, NYMEX WTI crude rose 0.3% to $51.47/barrel. COMEX gold declined 0.7% to $1277.40/ounce amid a stronger dollar.

Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.

Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.


Financial and Tech Groups had Positive Bias

On Friday the Bank Index ($BKX +1.58%) and the Broker/Dealer Index ($XBD +0.89%) posted solid gains and outpaced the Retail Index ($RLX +0.06%)The tech sector was mixed, with modest a small loss for the Biotechnology Index ($BTK -0.22%) as the Semiconductor Index ($SOX +0.51%) and the Networking Index ($NWX +1.03%) both ended higher. The Gold & Silver Index ($XAU -0.60%) and the Oil Services Index ($OSX -0.86%) fell while the Integrated Oil Index ($XOI +0.43%) edged higher.

Charts courtesy www.stockcharts.com

PICTURED: The Broker/Dealer Index ($XBD +0.89%) is consolidating above prior highs, perched near its record.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  131.71 -1.15 -0.87% -28.34%
Integrated Oil $XOI  1,220.80 +5.28 +0.43% -3.72%
Semiconductor $SOX  1,231.34 +6.29 +0.51% +35.84%
Networking $NWX  468.12 +4.76 +1.03% +4.94%
Broker/Dealer $XBD  246.30 +2.17 +0.89% +19.98%
Retail $RLX  1,545.52 +0.95 +0.06% +15.08%
Gold & Silver $XAU  85.01 -0.51 -0.60% +7.80%
Bank $BKX  101.17 +1.57 +1.58% +10.22%
Biotech $BTK  4,243.06 -9.41 -0.22% +37.98%


Violation of 50 Day Moving Average Line Hurt Technical Stance

Marine Products Corp (MPX -$0.15 or -0.98% to $15.19) has sputtered since violating its 50-day moving average (DMA) line ($15.37) with higher volume behind damaging losses triggering a technical sell signal. Only a prompt rebound above the 50 DMA would help its outlook improve.

It was noted with caution in prior reports - "Recent losses negated the breakout attempt and it slumped back into the prior base raising concerns. Confirming volume-driven gains above the pivot point and for new highs would be a very reassuring sign of fresh institutional buying demand,"

In the 9/26/17 mid-day report it was highlighted in yellow with pivot point cited based on its 7/12/17 high plus 10 cents (read here). MPX is a high-ranked leader in the Recreational Vehicles Industry Group. 

It is due to report earnings for eh Sep '17 quarter. Recently it reported earnings +38% on +10% sales revenues for the Jun '17 quarter. Three of the past 4 quarterly earnings increases were above the +25% minimum guideline (C criteria), however sequential comparisons show sales revenues growth decelerating. Its annual earnings (A criteria) history has been good."

The number of top-rated funds owning its share rose from 116 in Sep '16 to 127 in Sep '17 (I criteria). Its current Up/Down Volume Ratio of 1.5 is an unbiased indication its shares have been under accumulation over the past 50 days. Its small supply of only 7.7 million shares in the public float and 34.9 million shares outstanding (S criteria) can contribute to greater price volatility in the event of institutional buying or selling.

Charts used courtesy of www.stockcharts.com

Color Codes Explained :
Y - Better candidates highlighted by our staff of experts.
G - Previously featured in past reports as yellow but may no longer be buyable under the guidelines.

***Last / Change / Volume data in this table is the closing quote data***
Symbol/Exchange
Company Name
Industry Group
PRICE CHANGE
(%Change)
Day High Volume
(% DAV)
(% 50 day avg vol)
52 Wk Hi
% From Hi
Featured
Date
Price
Featured
Pivot Featured
Max Buy
MPX - NYSE
Marine Products Corp
AUTOMOTIVE - Recreational Vehicles  
$15.19 -0.15
-0.98%

$15.51

30,652
95.79% of 50 DAV
50 DAV is 32,000
$17.12
-11.27%
9/26/2017 $16.30 PP = $16.35
MB = $17.17
Most Recent Note - 10/20/2017 5:41:40 PM
G - Still sputtering below its 50 DMA line ($15.41). Only a prompt rebound above the 50 DMA would help its outlook improve. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Violation of 50 Day Moving Average Line Hurt Technical Stance - 10/20/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
THO - NYSE
Thor Industries Inc
AUTOMOTIVE - Recreational Vehicles  
$132.10 +1.74
1.33%

$133.29

690,811
99.40% of 50 DAV
50 DAV is 695,000
$131.34
0.58%
8/14/2017 $106.67 PP = $110.01
MB = $115.51
Most Recent Note - 10/19/2017 3:21:15 PM
G - Volume totals have been cooling in recent weeks, perched at its all-time high after 8 consecutive weekly gains, very extended from the previously noted base. Prior highs in the $115 area define initial support to watch on pullbacks. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base With Volume Totals Cooling - 10/13/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
PFBC - NASDAQ
Preferred Bank Los Angls
BANKING - Regional - Pacific Banks  
$58.96 +0.14
0.24%

$59.63

46,793
73.11% of 50 DAV
50 DAV is 64,000
$60.99
-3.33%
10/10/2017 $59.38 PP = $59.08
MB = $62.03
Most Recent Note - 10/17/2017 5:24:05 PM

Y - Ended slightly lower with near average volume. It was highlighted in yellow with pivot point cited based on its 7/20/17 high plus 10 cents in the 10/10/17 mid-day report. Hit new 52-week highs, triggering a technical buy signal with considerable volume-driven gains on 9/27 and 9/28. Faces no resistance due to overhead supply. Reported earnings +31% on +26% sales revenues for the Jun '17 quarter, its 3rd consecutive quarterly comparison above the +25% minimum guideline (C criteria). See the latest FSU analysis for more details and an annotated graph.


>>> FEATURED STOCK ARTICLE : Perched Near High Following Volume-Driven Breakout Gains - 10/11/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
AVGO - NASDAQ
Avago Technologies Ltd
ELECTRONICS - Semiconductor - Broad Line  
$244.24 -0.05
-0.02%

$247.00

2,321,834
90.18% of 50 DAV
50 DAV is 2,574,600
$259.36
-5.83%
8/24/2017 $252.44 PP = $256.89
MB = $269.73
Most Recent Note - 10/19/2017 12:25:54 PM
G - Still sputtering below its 50 DMA line ($246.24), and its Relative Strength rating has slumped to 76, below the 80+ minimum guideline for buy candidates. A rebound above that short-term average is needed for its outlook to improve. Subsequent losses below the recent low ($231.53 on 9/25/17) would raise serious concerns and trigger a more worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Slumped Below 50-Day Moving Average Line Again - 10/17/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
YY - NASDAQ
YY Inc Ads
INTERNET - Internet Service Providers  
$93.12 +0.35
0.38%

$94.05

858,881
48.39% of 50 DAV
50 DAV is 1,775,000
$97.59
-4.58%
9/25/2017 $80.26 PP = $83.10
MB = $87.26
Most Recent Note - 10/19/2017 5:21:38 PM
G - Extended from its prior base and prior highs in the $83 area defining initial support to watch above its 50 DMA line. See the latest FSU analysis for more details and a new annotated graph.
>>> FEATURED STOCK ARTICLE : Extended After Rallying From Base - 10/19/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
Symbol/Exchange
Company Name
Industry Group
PRICE CHANGE
(%Change)
Day High Volume
(% DAV)
(% 50 day avg vol)
52 Wk Hi
% From Hi
Featured
Date
Price
Featured
Pivot Featured
Max Buy
STMP - NASDAQ
Stamps.com Inc
INTERNET - Internet Software and Services  
$221.85 +2.00
0.91%

$224.35

255,139
78.99% of 50 DAV
50 DAV is 323,000
$226.00
-1.84%
9/11/2017 $193.65 PP = $220.35
MB = $231.37
Most Recent Note - 10/19/2017 1:15:28 PM
Y - Faces no resistance, however recent gains have been "wedging" with a lack of great volume conviction indicative of fresh institutional buying demand. Gains above the pivot point must have at least +40% above average volume to trigger a proper new (or add-on) technical buy signal under the fact-based investment system. Its 50 DMA line ($205.79) defines important near-term support above the recent low ($195.05 on 9/28/17) where violations would trigger technical sell signals.
>>> FEATURED STOCK ARTICLE : Perched Near Pivot Point With No Resistance Remaining - 10/4/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
HTHT - NASDAQ
China Lodging Group Ads
LEISURE - Lodging  
$134.52 +2.15
1.62%

$138.41

462,578
119.84% of 50 DAV
50 DAV is 386,000
$138.44
-2.83%
9/29/2016 $46.12 PP = $47.82
MB = $50.21
Most Recent Note - 10/16/2017 4:04:24 PM
G - Rallying today near its record high hit on 10/09/17, very extended from any sound base. Earnings +19% on +18% sales revenues for the Jun '17 quarter were below the +25% minimum earnings guideline (C criteria). Its 50 DMA line ($115.41) defines near-term support.
>>> FEATURED STOCK ARTICLE : Holding Ground Stubbornly After Considerable Rally - 10/5/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
LMAT - NASDAQ
Lemaitre Vascular Inc
Medical-Products  
$39.01 +0.64
1.65%

$39.88

290,901
172.13% of 50 DAV
50 DAV is 169,000
$39.29
-0.72%
7/28/2017 $33.50 PP = $33.32
MB = $34.99
Most Recent Note - 10/20/2017 5:43:37 PM
G - Hit a new high with today's volume-driven gain, but it ended in the lower half of its intra-day range. Found support at its 50 DMA line and prior highs in the $36 area. Violations would raise concerns and trigger technical sell signals. Due to report Sep '17 quarterly earnings on 10/26/17 after the close. See the latest FSU analysis for more details and an annotated graph.
>>> FEATURED STOCK ARTICLE : Consolidating Above 50-Day Moving Average Before Earnings - 10/18/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
ESNT - NYSE
Essent Group Ltd
Finance-MrtgandRel Svc  
$44.50 +0.02
0.04%

$45.10

779,088
106.58% of 50 DAV
50 DAV is 731,000
$44.50
0.00%
10/9/2017 $39.75 PP = $41.54
MB = $43.62
Most Recent Note - 10/16/2017 11:53:53 AM
Y - Hitting new all-time highs with today's 5th consecutive gain on ever-increasing volume. Prior session's volume total was only +22% above average. Members were reminded - "Gains above the pivot point must have at least +40% above average volume to trigger a proper technical buy signal under the fact-based investment system's rules."
>>> FEATURED STOCK ARTICLE : Perched Within Close Striking Distance of Prior High - 9/29/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
FIVE - NASDAQ
Five Below Inc
Retail-DiscountandVariety  
$57.49 +0.46
0.81%

$57.65

687,664
78.68% of 50 DAV
50 DAV is 874,000
$57.65
-0.28%
10/6/2017 $57.13 PP = $54.23
MB = $56.94
Most Recent Note - 10/17/2017 5:13:58 PM
Y - Posted a 3rd consecutive small gain today with below average volume. Prior highs in the $54 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Finished Strong With Above Average Volume Behind Big Gain - 10/6/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
Symbol/Exchange
Company Name
Industry Group
PRICE CHANGE
(%Change)
Day High Volume
(% DAV)
(% 50 day avg vol)
52 Wk Hi
% From Hi
Featured
Date
Price
Featured
Pivot Featured
Max Buy
OLED - NASDAQ
Universal Display Corp
Elec-Misc Products  
$134.30 -1.65
-1.21%

$136.75

635,511
76.11% of 50 DAV
50 DAV is 835,000
$145.30
-7.57%
8/31/2017 $128.22 PP = $127.78
MB = $134.17
Most Recent Note - 10/16/2017 4:27:41 PM
G - Color code is changed to green after a gain with light volume lifted it above its "max buy" level. Its 50 DMA line and recent lows define important near-term support to watch in the $123-124 area.
>>> FEATURED STOCK ARTICLE : Consolidating Near Prior Highs Following Recent Breakout - 9/28/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
ANET - NYSE
Arista Networks Inc
TELECOMMUNICATIONS - Communication Equipment  
$191.68 +1.55
0.82%

$192.95

320,506
50.16% of 50 DAV
50 DAV is 639,000
$196.27
-2.34%
8/4/2017 $173.31 PP = $163.07
MB = $171.22
Most Recent Note - 10/16/2017 4:11:16 PM
G - Pulled back today for a 3rd consecutive small loss on light volume. Still perched near its all-time high, extended from any sound base. Its 50 DMA line ($179.60) and prior highs in the $176 area define important near-term support to watch on pullbacks. Fundamentals remain very strong.
>>> FEATURED STOCK ARTICLE : Perched Near All-Time High, Extended From Any Sound Base - 10/16/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
GRUB - NYSE
Grubhub Inc
COMPUTER SOFTWARE and SERVICES - Technical and System Software  
$52.34 +0.57
1.10%

$53.11

1,800,770
116.93% of 50 DAV
50 DAV is 1,540,000
$57.61
-9.15%
6/21/2017 $47.33 PP = $46.94
MB = $49.29
Most Recent Note - 10/19/2017 3:19:10 PM
G - Recent lows in the $49-50 area define near-term support above prior highs in the $47 area. A rebound above its now downward sloping 50 DMA line ($53.78) is needed for its outlook to improve. Due to report Sep '17 quarterly results before the open on Wednesday, October 25th. Volume and volatility often increase near earnings news. Earnings rose only +13% on +32% sales revenues for the Jun '17 quarter, below the +25% minimum earnings guideline (C criteria).
>>> FEATURED STOCK ARTICLE : Gain Above 50-Day Moving Average Line Helped Technical Stance - 10/2/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
IBP - NYSE
Installed Building Prod
DIVERSIFIED SERVICES - Business/Management Services  
$65.80 +0.30
0.46%

$66.30

84,452
54.84% of 50 DAV
50 DAV is 154,000
$67.15
-2.01%
9/19/2017 $59.15 PP = $60.10
MB = $63.11
Most Recent Note - 10/17/2017 5:18:08 PM
G - Still stubbornly holding its ground, extended from prior highs in the $60 area that define initial support above its 50 DMA line ($59.88).
>>> FEATURED STOCK ARTICLE : Building - Maintenance & Service Firm Extended From Latest Base - 10/9/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
NCOM - NASDAQ
National Commerce Corp
BANKING - Regional - Southeast Banks  
$42.75 +0.10
0.23%

$43.10

22,952
57.38% of 50 DAV
50 DAV is 40,000
$43.80
-2.40%
4/25/2017 $38.95 PP = $40.09
MB = $42.09
Most Recent Note - 10/17/2017 5:25:23 PM
G - Volume totals have been cooling while stubbornly holding its ground near its 52-week high following an impressive spurt of volume-driven gains. Recently reported Jun '17 earnings +23% on +45% sales revenues, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns.
>>> FEATURED STOCK ARTICLE : Holding Ground Following Impressive Volume-Driven Gains - 10/12/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
Symbol/Exchange
Company Name
Industry Group
PRICE CHANGE
(%Change)
Day High Volume
(% DAV)
(% 50 day avg vol)
52 Wk Hi
% From Hi
Featured
Date
Price
Featured
Pivot Featured
Max Buy
OLLI - NASDAQ
Ollie's Bargain Outlet
Retail-DiscountandVariety  
$45.10 +0.70
1.58%

$45.35

348,226
65.58% of 50 DAV
50 DAV is 531,000
$46.90
-3.84%
9/8/2017 $45.20 PP = $46.18
MB = $48.49
Most Recent Note - 10/17/2017 5:22:49 PM
Y - Volume totals have been cooling while hovering near its all-time high and above its 50 DMA line ($44.78). Recent gains above the latest pivot point did not meet the minimum +40% above average volume threshold necessary to trigger a proper new (or add-on) technical buy signal. Confirming volume-driven gains would be a reassuring sign of fresh institutional buying demand. Fundamentals remain strong.
>>> FEATURED STOCK ARTICLE : Quietly Hit New Highs Without Great Volume Conviction - 10/3/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
HLI - NYSE
Houlihan Lokey Inc Cl A
Finance-Invest Bnk/Bkrs  
$41.56 +0.18
0.43%

$41.78

138,378
62.61% of 50 DAV
50 DAV is 221,000
$41.48
0.19%
9/18/2017 $37.04 PP = $39.78
MB = $41.77
Most Recent Note - 10/16/2017 4:24:42 PM
Y - Matched its all-time high with today's 4th consecutive small gain lacking great volume conviction. Gains above the pivot point must be backed by at least +40% above average volume to trigger a proper new (or add-on) technical buy signal. Subsequent losses below the recent low ($34.41 on 8/18/17) would raise more serious concerns and trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Rebounding Toward Prior High and New Pivot Point - 9/27/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 
ICHR - NASDAQ
Ichor Holdings Ltd
ELECTRONICS - Semiconductor Equipment  
$33.86 +0.52
1.56%

$35.51

883,003
128.53% of 50 DAV
50 DAV is 687,000
$34.70
-2.42%
10/10/2017 $29.39 PP = $28.36
MB = $29.78
Most Recent Note - 10/19/2017 12:48:39 PM
G - Prior highs in the $29 area define initial support to watch on pullbacks. Very extended from its prior base after a streak of gains.
>>> FEATURED STOCK ARTICLE : Semiconductor Equipment Firm Finished Strong After Highlighted - 10/10/2017
 |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I 

THESE ARE NOT BUY RECOMMENDATIONS!  Comments contained in the body of this report are technical opinions only. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. This site is not an investment advisor, hence it does not endorse or recommend any securities or other investments. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. All trademarks, service marks and trade names appearing in this report are the property of their respective owners, and are likewise used for identification purposes only.

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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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