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 MIDDAY BREAKOUTS REPORT - WEDNESDAY, AUGUST 10TH, 2011
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DOW 10862.45 -377.32 (-3.36%) | NASDAQ 2426.02 -56.5 (-2.28%) | S&P 500 1136.68 -35.85 (-3.06%)
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Time of Screening :
8/10/2011 11:38:16 AM Report Released :
8/10/2011 12:32:38 PM
Price is:
Above 52W High and Less Than 52W High
but within 8% of the 52 Week High
Volume Is:
At least 57.5% of 50 Day Average at
the time of the screening.
More details about this report...
At around
mid-way through each trading day we run
a screen against our database of
high-ranked stocks, searching for
possible buy candidates that are trading
at or near their 52-week high on above
average volume. The results of that
screen are split into the two sections
you see below. The first, titled
"TODAY's FEATURED STOCKS" shows stocks
that our experts have recently
identified as among the strongest candidates to
consider. Stocks highlighted in yellow
are the most timely and noteworthy, so
particular attention and prompt action
may be appropriate. The second section,
titled "TODAY's BREAKOUT SCREEN" shows
the remainder of stocks meeting today's
screen parameters. Our experts have
reviewed and included notes on these
stocks as well, but found that they may
not match up as favorably.
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Y - Today's strongest
candidates
highlighted
by our staff
of experts.
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G - Previously featured in
this report as yellow and
now may no longer be buyable
under the guidelines.
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Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(50 DAV) |
52 Wk Hi
% From Hi |
Date
Featured |
Price
Featured |
Pivot Point |
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Max Buy |
MG
- NYSE
Mistras Group Inc
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$17.89
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+1.76
10.91%
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$18.07
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320,264
311.24% of 50 DAV
50 DAV is 102,900
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$18.46
-3.09%
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8/10/2011 |
$17.89
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PP = $17.58
MB = $18.46 |
Most Recent Note - 8/10/2011
Y - Considerable gain today driven by heavy volume, rallying from a base formed since the previously noted Public Offering on 5/05/11. It found support well above its 200 DMA line after it was dropped from the Featured Stocks list on 6/14/11. Color code is changed to yellow with new pivot point cited based on its 8/01/11 high plus 10 cents. It faces very little resistance due to overhead supply up to its 52-week high. Its Accumulation/Distribution rating of E (see red circle) is a concern, however the number of top-rated funds owning its shares rose from 99 in Sep '10 to 147 in Jun '11, a reassuring sign concerning the I criteria.? The M criteria still argues against new buying efforts, and disciplined investors know that.
>>> The latest Featured Stock Update with an annotated graph appeared on 5/12/2011. Click here.
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A N
S L
I M
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Symbol - Exchange - Industry Group
Company Name |
Last |
Chg |
Day
High |
52 WK Hi |
% From Hi |
Volume
% DAV |
DAV |
AUY
- NYSE - METALS & MINING - Gold
Yamana Gold Inc
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$14.53 |
+0.39
2.76%
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$14.72
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$14.72
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-1.29% |
10,695,594
111.86%
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9,561,600
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Most Recent Note for AUY - 8/10/2011 11:43:56 AM
Hitting a new 52-week high today with its 4th consecutive gain driven by above average volume adding to a recent spurt of volume-driven gains, finally making meaningful price progress above stubborn resistance in the $13 area. Quarterly sales revenues and earnings increases in the 4 latest comparisons through June 30, 2011 were well above the +25% guideline satisfying the C criteria. The downturn in FY '09 earnings is a fundamental flaw concerning the A criteria. With respect to the I criteria, the number of top rated funds owning its shares fell from 906 in Mar '11 to 860 in Jun '11. It survived but failed to impress since 4/23/2008 when it was dropped from the Featured Stocks list and subsequently fell from $13 to $3 over the next 6 months. First it had traded up as much as +25.4% after it was first featured at $15.89 in the February 2008 CANSLIM.net News (read here).
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A N
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I M
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AZO
- NYSE - RETAIL - Auto Parts Stores
Autozone Inc
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$278.77 |
-1.33
-0.47%
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$281.90
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$302.00
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-7.69% |
271,139
74.31%
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364,900
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Most Recent Note for AZO - 8/10/2011 11:46:01 AM
Tested support near its 200 DMA line this week. Last noted in the 6/20/11 mid-day report - "Reported +28% earnings on +9% sales revenues for the quarter ended April 30, 2011. Its 4 latest quarterly comparisons (C criteria) showed earnings increases above the +25% minimum guideline while sales revenues increases were in the +1-13% range and gradually accelerating. It is heavily owned by mutual funds already, and top-rated funds owning shares fell from 1,105 in Dec '10 to 1,062 in Mar '11, not a reassuring sign concerning the I criteria. While consumers are fixing their old cars and holding off on new car purchases, AZO and similar players in the auto-repair arena have shown some leadership."
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A N
S L
I M
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CHD
- NYSE - CONSUMER NON-DURABLES - Cleaning Products
Church & Dwight Inc
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$40.22 |
+0.33
0.83%
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$40.35
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$42.84
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-6.12% |
938,427
116.11%
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808,200
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Most Recent Note for CHD - 8/10/2011 11:50:19 AM
Rallying from support at its 200 DMA line toward its its 50 DMA line which may now act as resistance. This soap maker has been considered a "safe haven" by certain investors. Its earnings and sales growth history is below guidelines and has been previously noted as "lackluster".
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A N
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I M
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EGO
- NYSE - METALS & MINING - Gold
Eldorado Gold Corp
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$19.24 |
+0.71
3.85%
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$19.43
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$20.23
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-4.89% |
4,298,787
97.97%
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4,387,900
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Most Recent Note for EGO - 8/10/2011 11:56:45 AM
Rallying above prior 2011 highs today while adding to a recent spurt of volume-driven gains that are helping it approach its 2010 all-time high of $20.23. It survived but failed to impress since it was dropped from the Featured Stocks list on 8/19/10. Reported earnings +40% on +22% sales revenues for the latest quarter ended June 30, 2011, but the 3 prior quarterly comparisons showed earnings increases below the +25% guideline concerning the C criteria.
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A N
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I M
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MCD
- NYSE - LEISURE - Restaurants
Mcdonalds Corp
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$83.66 |
-2.27
-2.64%
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$85.08
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$89.57
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-6.60% |
5,340,048
82.55%
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6,469,100
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Most Recent Note for MCD - 8/10/2011 11:59:02 AM
Consolidating near its 50 DMA line with wider than usual intra-day swings in the past week that are indicative of worrisome uncertainty in the market. The global burger giant's stock is viewed as a "safe haven" and longtime favorite for some institutional investors, however, with 1.04 billion shares outstanding it is unlikely to be a sprinter capable of many-fold price increases. Earnings increases in the quarterly comparisons have not met the +25% minimum guideline, and sales revenues increases have been sub par.
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A N
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I M
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NGD
- AMEX - METALS & MINING - Gold
New Gold Inc
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$11.34 |
+0.42
3.85%
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$11.37
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$11.95
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-5.10% |
2,500,780
80.48%
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3,107,400
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Most Recent Note for NGD - 8/10/2011 12:07:30 PM
Up today for a 3rd consecutive volume-driven gain, rallying within -3% of its 52-week high with little resistance remaining due to overhead supply. Found support near its 200 DMA during its consolidation since noted in the 3/21/11 mid-day report - "Recent quarterly comparisons show sales revenues and earnings increases but its up and down annual earnings (A criteria) history leaves fundamental concerns."
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NGLS
- NYSE - ENERGY - Oil & Gas Refining & Marketing
Targa Resources Prtnrs
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$33.85 |
+0.56
1.68%
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$34.11
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$36.40
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-7.01% |
187,616
59.75%
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314,000
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Most Recent Note for NGLS - 8/10/2011 12:10:04 PM
The past week included deep plunge below its 200 DMA line and today's gain helped it rally above it. This MLP showed big earnings in the Mar and Jun '11 quarters but its prior earnings history has been erratic and below the fact-based investment system's guidelines.
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PRA
- NYSE - INSURANCE - Property & Casualty Insurance
Proassurance Corp
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$69.85 |
-2.92
-4.01%
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$72.28
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$72.98
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-4.29% |
107,270
68.32%
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157,000
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Most Recent Note for PRA - 8/10/2011 12:11:42 PM
Consolidating near its 50 DMA line today after wild intra-day trading volatility this week. The 8/09/11 mid-day report noted - "Recently rallied above its 2008 high ($71.16) to reach new all-time high territory. Annual earnings (A criteria) history has been steady but estimates are calling for -15% earnings for FY '11. Quarterly comparisons show earnings increases near the +25% guideline but sub par sales growth is a concern."
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RGLD
- NASDAQ - METALS & MINING - Gold
Royal Gold Inc
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$68.07 |
+2.38
3.62%
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$67.16
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$70.86
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-3.94% |
630,411
92.78%
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679,500
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Most Recent Note for RGLD - 8/10/2011 12:14:05 PM
Trading wider than usual intra-day price swings during the past week, enduring distributional pressure after recently spiking to new all-time highs. No resistance remains to hinder its progress. Prior mid-day reports noted - "Its up and down annual earnings (A criteria) history does not meet the investment system guidelines, but recent quarterly comparisons showed mostly strong sales revenues and earnings increases versus the year ago period."
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TNH
- NYSE - CHEMICALS - Agricultural Chemicals
Terra Nitrogen Co Lp
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$160.38 |
+1.55
0.97%
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$161.60
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$167.83
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-4.44% |
51,727
71.45%
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72,400
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Most Recent Note for TNH - 8/10/2011 12:16:10 PM
Wider than usual intra-day price swings indicate recent uncertainty after repeatedly noted as extended from any sound base pattern, yet it found support near its 50 DMA line and well above prior chart resistance. Reported earnings +78% on +19% sales revenues for the quarter ended June 30, 2011 versus the year ago period and recent quarters were strong, but its up and down annual earnings (questionable A) history remains a fundamental concern. There is a small supply of only 4.26 million shares in its float, which can contribute to greater price volatility in the event of institutional buying or selling.
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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.
We are 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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