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AFTER MARKET UPDATE - THURSDAY, SEPTEMBER 19TH, 2013
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Indices NYSE Nasdaq
DOW  -40.39 15,636.55 -0.26% Volume 738,339,300 -10% Volume 1,728,058,200 -3%
NASDAQ +5.74 3,789.38 +0.15% Advancers 1,259 40% Advancers 1,137 43%
S&P 500 -3.18 1,722.34 -0.18% Decliners 1,765 56% Decliners 1,367 52%
Russell 2000 -1.70 1,075.27 -0.16% 52 Wk Highs 340   52 Wk Highs 240  
S&P 600 -1.28 605.96 -0.21% 52 Wk Lows 14   52 Wk Lows 20  

Major Averages End Mixed on Lighter Volume

The major averages ended a choppy session mixed as investors digested the prior session's rally on the Fed's decision to maintain its stimulus measures. Thursday's volume totals were lighter on the NYSE and on the Nasdaq exchange. Breadth was negative as decliners led advancers by nearly a 3-2 margin on the NYSE and by a 7-6 margin on the Nasdaq exchange.  Widespread leadership continued as there were 107 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, up from the total of 100 stocks on the prior session. The list of stocks hitting new 52-week highs solidly outnumbered new lows on the NYSE and on the Nasdaq exchange. There were gains for 11 of the 21 high-ranked companies currently included on the Featured Stocks Page.

 

Generally positive economic data failed to provide a tailwind to the market. On the economic front, a report showed jobless claims rose 15,000 to 309,000, less the consensus projection of 330,000.  A separate release revealed existing home sales climbed +1.7% in August to its highest level in more than six years. Additional reports showed business activity in the Mid-Atlantic region expanded at a faster-than-expected pace in September and the leading indicator index increased +0.7% last month. 

Among earnings, Oracle Corp (ORCL +0.6%) fell after providing a lower-than-expected profit forecast. ConAgra Foods Inc (CAG -3.96%) fell as its quarterly results fell short of consensus estimates. BioMarin Pharmaceutical Inc (BMRN +1.16%) rose amid reports Roche is preparing to make a bid to acquire the biotech company.

Utilities were the worst performing sector on the session with Edison International (EIX -1.2%) among the decliners. Health care also weighed on the market led by declines in managed care providers including Cigna (CI -4.34%) and United Health (UNH -3.01%) retreated. 

Treasuries declined with the 10-year note down 15/32 to yield 2.74%.

New buying efforts in stocks are justified under the fact-based system while the market (M criteria) is currently in a confirmed rally. Stay familiar with companies listed on the CANSLIM.netFeatured Stocks Page - a page showing the most action-worthy candidates' latest notes and links to additional resources including detailed analysis with data-packed graphs which are annotated by a Certified expert.  The Premium Member Homepage - includes "dynamic archives" to all prior pay reports published. Watch for an announcement via email concerning the next WEBCAST.

PICTURED: The S&P 500 Index pulled back on lighter volume after a volume-driven rally to new all-time highs.


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.


Defensive and Financial Groups Fell; Retail Index Rose

Defensive groups fell hardest as the Healthcare Index ($HMO -2.93%) and the Gold & Silver Index ($XAU -2.79%) slumped for large losses. The Bank Index ($BKX -1.38%) and Broker/Dealer Index ($XBD -0.46%) both lost ground and were a negative influence on the major averages while the Retail Index ($RLX +0.40%) eked out a modest gain. The Internet Index ($IIX +0.13%) and the Networking Index ($NWX +0.18%) edged higher while the Biotechnology Index ($BTK -0.40%) and the Semiconductor Index ($SOX -0.32%) suffered minor losses. The Oil Services Index ($OSX -0.21%) edged lower and the Integrated Oil Index ($XOI -0.01%) finished flat.

Charts courtesy www.stockcharts.com

PICTURED: The Broker/Dealer Index ($XBD -0.46%) is consolidating above prior highs.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  277.41 -0.57 -0.21% +26.00%
Healthcare $HMO  3,436.90 -103.71 -2.93% +36.70%
Integrated Oil $XOI  1,423.08 -0.20 -0.01% +14.60%
Semiconductor $SOX  496.09 -1.58 -0.32% +29.17%
Networking $NWX  306.76 +0.56 +0.18% +35.41%
Internet $IIX  422.37 +0.57 +0.13% +29.16%
Broker/Dealer $XBD  139.26 -0.64 -0.46% +47.63%
Retail $RLX  860.58 +3.42 +0.40% +31.78%
Gold & Silver $XAU  101.95 -2.93 -2.79% -38.44%
Bank $BKX  63.79 -0.89 -1.38% +24.40%
Biotech $BTK  2,237.85 -8.93 -0.40% +44.65%


Wedging to New Highs With Gains Lacking Volume Conviction

Priceline.com Inc. (PCLN +$5.53 or +0.56% to  $1,000.62) wedged to a new high with today's gain backed by below average volume. Its pivot point cited was based on its 8/09/13 high plus 10 cents. To trigger a proper technical buy signal the volume must be at least +40% above average behind a stock's gains above its pivot point. Subsequent volume-driven gains may help to clinch a proper a new (or add-on) technical buy signal.  

PCLN was last shown in the FSU section on 8/19/13 with an annotated graph under the headline, " Following Slightly Sub Par Earnings Market Slump Also Raised Concerns".  Not long ago it reported earnings +24% on +27% sales revenues for the Jun '13 quarter, just under the +25% minimum earnings guideline (C criteria), raising fundamental concerns. The Leisure - Travel Booking firm has earned stellar ranks, despite the latest quarter's slightly sub par results. Its strong annual earnings history satisfies the A criteria. 

Keep in mind, the investment system's biggest winning models were typically held by at least a few mutual funds and attracting many others. However, once a stock is very heavily owned by a long list of mutual funds, as is now the case with PCLN, investors should be especially cautious and alert for any technical sell signals or fundamental disappointments which could prompt a rush for the exits. The number of top-rated funds owning its shares rose from 1,528 in Sep '12 to 1,717 in Jun '13, and increasing interest is an encouraging sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under accumulation over the past 50 days.


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
AVG - NYSE
A V G Technologies N.V.
INTERNET - Internet Software and Services  
$25.97 +0.60
2.36%

$25.99

1,241,332
144.85% of 50 DAV
50 DAV is 857,000
$25.41
2.20%
9/13/2013 $23.06 PP = $23.88
MB = $25.07
Most Recent Note - 9/18/2013 12:23:14 PM
G - Color code is changed to green after rallying beyond its "max buy" level. Triggered a technical buy signal on 9/16/13 with 5 times average volume behind its breakout gain above the pivot point. More details and an annotated graph were included on 9/13/13 in the latest FSU analysis under the headline, "Rallying Near Pivot Point With Greater Volume Conviction".
>>> The latest Featured Stock Update with an annotated graph appeared on 9/13/2013. Click here.

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BITA - NYSE
Bitauto Hldgs Ltd Ads
INTERNET - Internet Information Providers  
$15.56 +0.96
6.58%

$15.69

398,572
108.34% of 50 DAV
50 DAV is 367,900
$18.10
-14.03%
8/7/2013 $12.01 PP = $13.30
MB = $13.97
Most Recent Note - 9/19/2013 7:14:36 PM
G - Rallied for a big gain on average volume today after a streak of 5 consecutive losses as it endured distributional pressure. Its choppy 6-week consolidation above its 50 DMA line and prior highs is not recognized as a sound base pattern.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/3/2013. Click here.

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CELG - NASDAQ
Celgene Corp
DRUGS - Drug Manufacturers - Major  
$148.52 -0.15
-0.10%

$149.79

2,343,797
93.38% of 50 DAV
50 DAV is 2,509,900
$151.20
-1.77%
9/12/2013 $149.50 PP = $150.02
MB = $157.52
Most Recent Note - 9/12/2013 4:08:38 PM
Y - Wedging into new high territory this week with a streak of gains lacking volume conviction. New pivot point is cited based on its 8/01/13 high plus 10 cents, and subsequent volume-driven gains may trigger a new (or add-on) technical buy signal. It formed a base-on-base type pattern. Its 50 DMA line defines important chart support.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/21/2013. Click here.

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EGBN - NASDAQ
Eagle Bancorp Inc
BANKING - Regional - Mid-Atlantic Banks  
$27.27 -0.33
-1.20%

$27.90

40,561
57.62% of 50 DAV
50 DAV is 70,400
$28.24
-3.43%
9/16/2013 $27.48 PP = $27.77
MB = $29.16
Most Recent Note - 9/16/2013 6:53:19 PM
Y - Finished lower today following a "negative reversal" after hitting a new 52-week high. Highlighted in yellow with a new pivot point based on its 7/25/13 high plus 10 cents. Reported earnings +33% on +15% sales revenues for the Jun '13 quarter. Found support at its 50 DMA line again since noted in the 7/26/13 mid-day report - "This Bank holding company with operations in the Northeast has shown strong sales revenues and earnings increases (C criteria) in recent quarterly comparisons. Annual earnings (A criteria) history included a downturn in FY '07-09 yet improved in recent years." See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/16/2013. Click here.

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FLT - NYSE
Fleetcor Technologies
DIVERSIFIED SERVICES - Business/Management Services  
$110.73 -0.25
-0.23%

$112.50

404,629
67.26% of 50 DAV
50 DAV is 601,600
$111.18
-0.40%
8/19/2013 $99.01 PP = $100.97
MB = $106.02
Most Recent Note - 9/12/2013 12:33:46 PM
G - Blasted beyond its "max buy" level to new highs after pricing a 2.75M share Secondary Offering at $105.25. FLT has traded up as much as +55% since first featured in yellow in the mid-day report on 3/21/13 (read here)
>>> The latest Featured Stock Update with an annotated graph appeared on 9/6/2013. Click here.

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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
GNRC - NYSE
Generac Hldgs Inc
CONSUMER DURABLES - Electronic Equipment  
$42.18 +0.11
0.26%

$42.52

315,373
38.25% of 50 DAV
50 DAV is 824,600
$44.30
-4.79%
9/12/2013 $41.40 PP = $43.27
MB = $45.43
Most Recent Note - 9/12/2013 5:47:27 PM
Y - Rebounded above its 50 DMA line, its color code is changed to yellow while building on a new base with pivot point based on its 8/14/13 high. Subsequent volume-driven gains may trigger a new technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/22/2013. Click here.

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KORS - NYSE
Michael Kors Hldgs Ltd
RETAIL - Apparel Stores  
$77.49 +1.77
2.34%

$78.62

4,462,517
124.72% of 50 DAV
50 DAV is 3,578,100
$76.74
0.98%
8/6/2013 $69.66 PP = $66.28
MB = $69.59
Most Recent Note - 9/17/2013 3:04:29 PM
G - Extended from its prior base and volume totals have been cooling while consolidating near its 52-week high. Its 50 DMA line defines support above prior highs in the $66 area.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/29/2013. Click here.

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LOPE - NASDAQ
Grand Canyon Education
DIVERSIFIED SERVICES - Education and; Training Services  
$39.60 -0.06
-0.15%

$39.99

277,530
68.59% of 50 DAV
50 DAV is 404,600
$39.90
-0.75%
6/19/2013 $31.47 PP = $34.17
MB = $35.88
Most Recent Note - 9/18/2013 7:39:16 PM
G - Surged to a new all-time high with today's gain backed by above average volume. Fundamental concerns remain while technical action has been reassuring.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/12/2013. Click here.

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MRLN - NASDAQ
Marlin Business Services
DIVERSIFIED SERVICES - Rental and Leasing Services  
$25.55 -0.24
-0.93%

$25.82

41,971
114.36% of 50 DAV
50 DAV is 36,700
$26.96
-5.23%
9/9/2013 $25.75 PP = $26.07
MB = $27.37
Most Recent Note - 9/12/2013 12:52:07 PM
Y - Trading at a new 52-week high today. The company announced plans to pay a Special Dividend to shareholders of record 9/16/13. Held its ground stubbornly and rose since a volume-driven breakout gain on 9/05/13. See the latest FSU analysis for more details and an annotated weekly graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/9/2013. Click here.

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PCLN - NASDAQ
Priceline.Com Inc
INTERNET - Internet Software and Services  
$1,000.62 +5.53
0.56%

$1,003.31

539,673
86.82% of 50 DAV
50 DAV is 621,600
$1,001.00
-0.04%
9/13/2013 $966.82 PP = $995.08
MB = $1,044.83
Most Recent Note - 9/19/2013 7:11:16 PM
Y - Inched higher on below average volume today, wedging above its new pivot point cited based on its 8/09/13 high plus 10 cents. Subsequent volume-driven gains may clinch a proper new (or add-on) technical buy signal. See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/19/2013. Click here.

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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
PRAA - NASDAQ
Portfolio Recovery Assoc
DIVERSIFIED SERVICES - Business/Management Services  
$59.52 +0.89
1.52%

$59.94

335,139
62.41% of 50 DAV
50 DAV is 537,000
$59.45
0.12%
7/31/2013 $51.43 PP = $54.72
MB = $57.46
Most Recent Note - 9/17/2013 3:19:21 PM
G - Extended from its prior base and hovering very near its 52-week high for the past week with volume totals cooling. Found support above its 50 DMA line during the latest consolidation.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/28/2013. Click here.

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PRLB - NYSE
Proto Labs Inc
MANUFACTURING - Small Tools and Accessories  
$77.83 +2.18
2.88%

$77.93

353,389
88.97% of 50 DAV
50 DAV is 397,200
$76.73
1.43%
7/29/2013 $64.86 PP = $67.50
MB = $70.88
Most Recent Note - 9/19/2013 7:19:20 PM
G - Hit a new 52-week high with today's 4th consecutive gain with near average volume. Support to watch is at prior highs and above its 50 DMA line coinciding in the $67 area.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/27/2013. Click here.

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QCOR - NASDAQ
Questcor Pharmaceuticals
DRUGS - Biotechnology  
$60.68 -4.95
-7.54%

$65.77

2,612,333
157.06% of 50 DAV
50 DAV is 1,663,300
$74.76
-18.83%
7/31/2013 $66.46 PP = $59.01
MB = $61.96
Most Recent Note - 9/19/2013 7:21:26 PM
G - Violated its 50 DMA line with today's damaging loss on above average volume triggering a technical sell signal. A breach of the prior low ($60.31 on 9/11/13) may trigger a more worrisome technical sell signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/26/2013. Click here.

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SFUN - NYSE
Soufun Hldgs Ltd Ads A
INTERNET - Internet Information Providers  
$48.75 -1.13
-2.27%

$50.93

850,741
93.35% of 50 DAV
50 DAV is 911,300
$53.77
-9.34%
7/16/2013 $29.54 PP = $27.90
MB = $29.30
Most Recent Note - 9/18/2013 12:45:14 PM
G - Rebounding toward its prior high with above average volume behind today's considerable gain. Recently noted - "It is still very extended from any sound base. Recent highs near $42 define initial support to watch on pullbacks."
>>> The latest Featured Stock Update with an annotated graph appeared on 8/30/2013. Click here.

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SSNC - NASDAQ
S S & C Technologies
COMPUTER SOFTWARE and SERVICES - Application Software  
$38.68 -0.77
-1.95%

$38.89

3,840,529
1,032.96% of 50 DAV
50 DAV is 371,800
$39.94
-3.15%
9/5/2013 $36.01 PP = $38.90
MB = $40.85
Most Recent Note - 9/19/2013 12:07:18 PM
Y - The gain above its pivot point on the prior session was backed by +160% above average volume, above the volume needed to trigger a proper technical buy signal. However, it gapped down today after pricing a 7.47 Million share Secondary Offering at $38, pulling back below the pivot point cited based on its 8/02/13 high plus 10 cents.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/5/2013. Click here.

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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
SSYS - NASDAQ
Stratasys Ltd
COMPUTER HARDWARE - Computer Peripherals  
$99.15 +1.44
1.47%

$99.59

1,341,631
126.24% of 50 DAV
50 DAV is 1,062,800
$113.49
-12.63%
7/8/2013 $91.44 PP = $95.00
MB = $99.75
Most Recent Note - 9/17/2013 3:34:35 PM
Y - Rebounding near its 50 DMA line after completing a new Public Offering on 9/13/13 perched near all-time highs.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/10/2013. Click here.

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STMP - NASDAQ
Stamps.Com Inc
INTERNET - Internet Software and Services  
$44.85 -0.22
-0.49%

$45.36

28,841
22.31% of 50 DAV
50 DAV is 129,300
$46.47
-3.49%
7/31/2013 $40.00 PP = $42.98
MB = $45.13
Most Recent Note - 9/17/2013 3:39:21 PM
Y - Poised for a best-ever close with today's small gain on light volume. Recently found encouraging support at its 50 DMA line.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/23/2013. Click here.

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TBBK - NASDAQ
Bancorp Inc
BANKING - Regional - Mid-Atlantic Banks  
$17.78 +0.00
0.00%

$17.85

130,475
77.39% of 50 DAV
50 DAV is 168,600
$18.38
-3.26%
9/4/2013 $16.26 PP = $16.79
MB = $17.63
Most Recent Note - 9/12/2013 1:03:15 PM
G - Perched at its 52-week high today following a streak of 10 consecutive gains, extended from its prior base. Prior highs define important near-term support to watch near $16 on pullbacks. Rallied +12% higher since highlighted on 9/04/13 under the headline, "Forming Sound Set-Up While "M" Correction Remains Overriding Concern".
>>> The latest Featured Stock Update with an annotated graph appeared on 9/4/2013. Click here.

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TNGO - NASDAQ
Tangoe Inc
COMPUTER SOFTWARE and SERVICES - Technical and System Software  
$23.54 +0.02
0.09%

$23.68

681,710
134.35% of 50 DAV
50 DAV is 507,400
$23.72
-0.76%
9/12/2013 $21.30 PP = $23.15
MB = $24.31
Most Recent Note - 9/17/2013 6:43:01 PM
Y - Today's gain lacked sufficient volume conviction while wedging above its pivot point cited based on its May 2012 high plus 10 cents. See the latest FSU analysis for more details and a new annotated daily graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/17/2013. Click here.

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VRX - NYSE
Valeant Pharmaceuticals
DRUGS - Drug Manufacturers - Other  
$106.12 +3.29
3.20%

$106.98

1,605,239
136.69% of 50 DAV
50 DAV is 1,174,400
$105.40
0.68%
9/11/2013 $100.26 PP = $105.50
MB = $110.78
Most Recent Note - 9/19/2013 7:17:42 PM
Y- Rose above its pivot point and hit a new 52-week high with today's 4th consecutive gain backed by +37% above average volume, just below the minimum volume threshold (+40% above average) needed to trigger a proper technical buy signal. Recent insider buying while trading near its highs has been noted as an encouraging sign.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/11/2013. Click here.

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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
YNDX - NASDAQ
Yandex N V Class A
INTERNET - Internet Information Providers  
$37.93 +1.71
4.72%

$37.97

3,490,310
139.97% of 50 DAV
50 DAV is 2,493,600
$36.45
4.06%
9/5/2013 $34.24 PP = $34.79
MB = $36.53
Most Recent Note - 9/18/2013 7:38:09 PM
Y - Hit new 52-week and all-time highs today with lighter than average volume while approaching its "max buy" level. See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/18/2013. Click here.

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