The major averages ended slightly higher, shrugging off disappointing earnings from some financial firms as oil prices rallied to a one-year high .  Volume was near the prior session total on the NYSE and lower than the prior session on the Nasdaq exchange. Decliners led advancers by about a 5-to-4 ratio on the Nasdaq exchange with the mix was virtually even on the NYSE. There were 48 high-ranked companies from the CANSLIM.net Leaders List, making a new 52-week high and appearing on the CANSLIM.net BreakOuts Page, down from the 74 issues that appeared on the prior session. New 52-week highs substantially outnumbered new 52-week lows on both major exchanges, and new lows were again in the single digits.

The Labor Department said inflation will not be a threat as the economy emerges from the worst recession since the Great Depression. A separate report showed that jobless claims decreased more than forecast which was the latest round of data from the jobs market.

Citigroup Inc. (C -5%) and Goldman Sachs Group Inc. (GS -1.9%) fell after reporting their latest quarterly results which disappointed some investors. Event though both companies reported stronger than expected results, both stocks fell which suggested investors were not happy with the actual results. Elsewhere, a slew of oil-related companies rallied after crude oil jumped above $77 a barrel on an unexpected decline in US gasoline inventories.

The rally which began on March 12, 2009 remains intact as investors continue buying stocks and this rally marks its 7-month anniversary. Remember to always remain disciplined and sell a stock if it drops -7% below your purchase price.

PICTURED: The S&P 500 Index posted its 8th gain in the past 9 sessions, rallying from its 50-day moving average line to new 2009 highs.

Charts courtesy www.stockcharts.com

PICTURED: The Healthcare Index ($HMO -1.79%) continues to struggle below its 50-day moving average line.

Credit Acceptance Corp (CACC +$0.19 or +0.52% to $36.50) posted a 10th consecutive gain for a new high close well above its "max buy" level.  Prior chart highs in the $32 area are now an important support level to watch on pullbacks.  Disciplined investors might watch for a light volume pullback to offer an opportunity to accumulate shares without chasing them more than +5% above its prior chart highs.  The high-ranked Finance-Consumer/Commercial Loans firm found prompt support near its prior chart highs during a brief pullback immediately following its 9/29/09 breakout with a considerable gain backed by more than 2 times average volume.  Since triggering a technical buy signal we have noted that, "There is no overhead supply to hinder its upward price progress."  However, it is now extended from its latest sound base, thus it is no longer buyable under the investment system guidelines. Since featured it has also risen above its 2006-2007 highs ($33-34) to new all-time highs, which is a very reassuring sign of strength. CACC was featured in yellow in the 9/29/09 mid-day report (read here).

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.