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AFTER MARKET UPDATE - MONDAY, SEPTEMBER 23RD, 2013
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Indices NYSE Nasdaq
DOW  -49.71 15,401.38 -0.32% Volume 690,082,100 -67% Volume 1,645,733,090 -29%
NASDAQ -9.44 3,765.29 -0.25% Advancers 1,274 41% Advancers 1,085 42%
S&P 500 -8.07 1,701.84 -0.47% Decliners 1,726 56% Decliners 1,443 55%
Russell 2000 -0.70 1,072.13 -0.06% 52 Wk Highs 81   52 Wk Highs 124  
S&P 600 -0.27 605.01 -0.04% 52 Wk Lows 36   52 Wk Lows 27  

Major Averages Pull Back With Lighter Volume Totals on Exchanges

On Monday the major averages finished slightly lower. Volume totals were lighter on the NYSE and on the Nasdaq exchange, down from Friday's totals which had been inflated by options expirations. Breadth was negative as decliners led advancers by almost a 3-2 margin on the NYSE and by a 7-5 margin on the Nasdaq exchange.  There were 48 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, down from the total of 70 stocks on the prior session. The list of stocks hitting new 52-week highs contracted yet still easily outnumbered new lows on the NYSE and on the Nasdaq exchange. There were gains for 7 of the 20 high-ranked companies currently included on the Featured Stocks Page.

 

The major averages declined as the federal budget deadline drew closer without a resolution to fund the government beyond October 1. Investors also digested conflicting monetary policy speeches. Regional Fed Presidents Dudley and Lockhart defended the central bank's commitment to its bond-buying program. However, their colleague Richard Fisher said last week's decision to hold off on tapering stimulus harmed the Fed's credibility. As a result of the cautious tone, positive economic data was on the back burner. A Chinese manufacturing index rose to a six-month high and euro zone services growth accelerated as demand and confidence improved.

Overall, most sectors were down. Financials and Consumer Staples were the worst performers as Citigroup Inc (C -3.20%) and The Coca-Cola Co (KO -1.95%) fell. The more defensive Utilities group finished higher as FirstEnergy Corp (FE +2.67%) rose. Technology also gained ground thanks to Apple Inc (AAPL +4.97) advance after posting record iPhone sales over the weekend.

In fixed-income, Treasury prices rose ahead of this week's auctions totaling $97 billion in government paper. The 10-year note was up 9/32 to yield 2.70% and the 30-year bond gained 21/32 to yield 3.73%.

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.net Featured 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 Nasdaq Composite Index is consolidating after rallying above its August highs to new 2013 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.


Financial, Retail, and Tech Groups Led Decliners

The Bank Index ($BKX -1.64%) and the Broker/Dealer Index ($XBD -0.53%) fell and created a drag on the major averages on Monday. The Retail Index ($RLX -0.98%) also fell, and the tecvh sector saw unanimous losses from the Biotechnology Index ($BTK -1.37%), Networking Index ($NWX -1.25%), Internet Index ($IIX -1.11%), and the Semiconductor Index ($SOX -0.38%).  The Oil Services Index ($OSX -0.74%) and the Gold & Silver Index ($XAU -1.75%), meanwhile the Healthcare Index ($HMO +1.11%) was a standout gainer.

Charts courtesy www.stockcharts.com

PICTURED: The Integrated Oil Index ($XOI -0.19%) recently rallied near its 2013 high.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  271.08 -2.03 -0.74% +23.13%
Healthcare $HMO  3,461.64 +37.97 +1.11% +37.68%
Integrated Oil $XOI  1,411.00 -2.65 -0.19% +13.62%
Semiconductor $SOX  491.29 -1.86 -0.38% +27.92%
Networking $NWX  300.95 -3.80 -1.25% +32.84%
Internet $IIX  416.51 -4.67 -1.11% +27.37%
Broker/Dealer $XBD  139.00 -0.74 -0.53% +47.36%
Retail $RLX  847.03 -8.39 -0.98% +29.70%
Gold & Silver $XAU  94.07 -1.68 -1.75% -43.19%
Bank $BKX  62.55 -1.04 -1.64% +21.98%
Biotech $BTK  2,186.71 -30.40 -1.37% +41.35%


Pullback Following Friday's Technical Buy Signal

Generac Hldgs Inc (GNRC  -$0.72 or -1.65%  to $42.88) pulled back today with lighter but still above average volume. The high-ranked Electrical - Power/Equipment firm on Friday ended at a new high close after rallying above its pivot point with +47% above average volume triggering a new technical buy signal. Disciplined investors avoid chasing stocks if they get extended more than +5% above their pivot point, and they always limit losses by selling if any stock falls more than -7% from their purchase price. 

GNRC was last shown in this FSU section with an annotated graph on 8/22/13 under the headline, "Finding Support Well Above 50-Day Average".  It subsequently slumped below its 50-day moving average (DMA) line and then rebounded with gains lacking great volume conviction while building a sound new base pattern. It reported earnings +64% on +45% sales for the June '13 quarter versus the year ago period. Recent quarterly comparisons show impressive sequential acceleration in its sales revenues and earnings growth, making it a better match with the C criteria of the fact-based system. Consensus estimates are calling for FY '13 earnings growth of +18%, yet FY '14 earnings are forecast at down -1%, and its currently low P/E valuation (0.7 X SP) suggests that the market has a timid outlook for future growth which is cause for some concern.

The number of top-rated funds owning its shares rose from 201 in Dec '12 to 379 in Jun '13, an encouraging sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.7 is also an unbiased indication that it 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  
$25.34 -0.87
-3.32%

$26.40

1,180,129
134.40% of 50 DAV
50 DAV is 878,100
$26.56
-4.58%
9/13/2013 $23.06 PP = $23.88
MB = $25.07
Most Recent Note - 9/23/2013 12:13:52 PM
G - Retreating from its 52-week high today after getting extended from its prior base with a spurt of volume-driven gains. Prior highs in the $23 area define initial support to watch.
>>> 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  
$15.94 +0.06
0.38%

$16.05

403,691
106.07% of 50 DAV
50 DAV is 380,600
$18.10
-11.93%
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  
$146.78 -3.08
-2.05%

$149.83

2,420,351
95.72% of 50 DAV
50 DAV is 2,528,700
$151.95
-3.40%
9/12/2013 $149.50 PP = $150.02
MB = $157.52
Most Recent Note - 9/20/2013 5:41:39 PM

Y - Hit a new 52-week high today with +208% above average volume, but it finished just below the new pivot point recently cited. See the latest FSU analysis for more details and a new annotated graph.


>>> The latest Featured Stock Update with an annotated graph appeared on 9/20/2013. Click here.

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EGBN - NASDAQ
Eagle Bancorp Inc
BANKING - Regional - Mid-Atlantic Banks  
$27.75 +0.37
1.35%

$27.85

129,591
184.08% of 50 DAV
50 DAV is 70,400
$28.24
-1.74%
9/16/2013 $27.48 PP = $27.77
MB = $29.16
Most Recent Note - 9/23/2013 6:15:09 PM
Y - Churned above average volume behind today's small gain and ended the session just below the pivot point recently cited based on its 7/25/13 high plus 10 cents. Additional volume-driven gains may help to clinch a more convincing technical buy signal.
>>> 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  
$109.87 -0.81
-0.73%

$111.88

650,355
104.78% of 50 DAV
50 DAV is 620,700
$112.50
-2.34%
8/19/2013 $99.01 PP = $100.97
MB = $106.02
Most Recent Note - 9/20/2013 5:50:19 PM
G - Perched near all-time highs after completing a Secondary Offering on 9/11/13. FLT has traded up as much as +58% 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  
$42.88 -0.72
-1.65%

$43.70

1,009,683
124.18% of 50 DAV
50 DAV is 813,100
$44.30
-3.21%
9/12/2013 $41.40 PP = $43.27
MB = $45.43
Most Recent Note - 9/23/2013 6:17:19 PM
Y - Pulled back today with lighter but above average volume. Closed at a new high after rallying above its pivot point on Friday with +47% above average volume triggering a new 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 9/23/2013. Click here.

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KORS - NYSE
Michael Kors Hldgs Ltd
RETAIL - Apparel Stores  
$75.01 -0.97
-1.28%

$75.48

2,991,406
82.01% of 50 DAV
50 DAV is 3,647,500
$78.62
-4.59%
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  
$39.03 -0.01
-0.03%

$39.25

315,415
79.99% of 50 DAV
50 DAV is 394,300
$39.99
-2.40%
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  
$25.86 +0.04
0.15%

$26.02

43,085
115.82% of 50 DAV
50 DAV is 37,200
$26.96
-4.08%
9/9/2013 $23.75 PP = $24.03
MB = $25.23
Most Recent Note - 9/20/2013 6:00:33 PM
G - Color code is changed to green as it is extended from its prior base. Perched at its 52-week high, stubbornly holding its ground and wedging higher with gains lacking great volume conviction since recently paying a $2.00 per share Special Dividend (latest Pivot Point, Max Buy and Featured Price were adjusted to accordingly).
>>> 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  
$996.76 -6.25
-0.62%

$1,008.50

445,019
72.01% of 50 DAV
50 DAV is 618,000
$1,007.15
-1.03%
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  
$59.17 +0.08
0.14%

$59.48

354,592
68.61% of 50 DAV
50 DAV is 516,800
$59.94
-1.28%
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  
$79.28 +1.00
1.28%

$79.75

608,940
151.63% of 50 DAV
50 DAV is 401,600
$78.28
1.28%
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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SFUN - NYSE
Soufun Hldgs Ltd Ads A
INTERNET - Internet Information Providers  
$49.98 +2.36
4.96%

$50.85

1,885,397
198.92% of 50 DAV
50 DAV is 947,800
$53.77
-7.05%
7/16/2013 $29.54 PP = $27.90
MB = $29.30
Most Recent Note - 9/23/2013 1:04:44 PM
G - Gapped up today, rebounding toward its prior highs. 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  
$38.79 -0.60
-1.52%

$39.67

525,182
119.85% of 50 DAV
50 DAV is 438,200
$39.94
-2.88%
9/5/2013 $36.01 PP = $38.90
MB = $40.85
Most Recent Note - 9/20/2013 6:12:47 PM
Y - Posted a solid gain today with above average volume, finishing back above the pivot point cited based on its 8/02/13 high plus 10 cents. Recently announced a Secondary Offering while perched at all-time highs.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/5/2013. Click here.

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SSYS - NASDAQ
Stratasys Ltd
COMPUTER HARDWARE - Computer Peripherals  
$98.23 -1.26
-1.27%

$101.00

1,112,410
104.10% of 50 DAV
50 DAV is 1,068,600
$113.49
-13.45%
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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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  
$44.64 +0.12
0.27%

$44.90

84,215
65.38% of 50 DAV
50 DAV is 128,800
$46.47
-3.94%
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  
$18.16 -0.07
-0.38%

$18.29

224,783
131.07% of 50 DAV
50 DAV is 171,500
$18.38
-1.20%
9/4/2013 $16.26 PP = $16.79
MB = $17.63
Most Recent Note - 9/20/2013 6:02:09 PM
G - Rallied for a new high close with near average volume today. 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  
$23.42 -0.04
-0.17%

$23.88

711,454
135.21% of 50 DAV
50 DAV is 526,200
$23.75
-1.39%
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  
$103.08 -1.33
-1.27%

$104.72

1,118,213
94.65% of 50 DAV
50 DAV is 1,181,400
$106.98
-3.65%
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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YNDX - NASDAQ
Yandex N V Class A
INTERNET - Internet Information Providers  
$36.69 +0.10
0.27%

$36.82

3,442,778
142.52% of 50 DAV
50 DAV is 2,415,600
$38.10
-3.70%
9/5/2013 $34.24 PP = $34.79
MB = $36.53
Most Recent Note - 9/23/2013 1:22:12 PM
G - Consolidating near its 52-week high after volume-driven gains lifted it above its "max buy" level. Prior highs in the $34 area define support above its 50 DMA line to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/18/2013. 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

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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