Mid-Day Breakouts Report - Friday, May 24th, 2013

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MIDDAY BREAKOUTS REPORT - FRIDAY, MAY 24TH, 2013
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DOW 15259.94 -34.56 (-0.23%) | NASDAQ 3449.22 -10.2 (-0.29%) | S&P 500 1644.29 -6.22 (-0.38%)

Time of Screening : 5/24/2013 12:15:43 PM Report Released : 5/24/2013 1:07:28 PM
Price is: Above 52W High and Less Than 52W High but within 10% 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...

To View Current Notes and Data on currently Featured Stocks go to the latest
Featured Stocks Page

NONE OF OUR FEATURED STOCKS MET TODAY'S SCREENING CRITERIA FOR VOLUME AND PRICE ACTION.

Symbol - Exchange - Industry Group Company Name	Last	Chg	Day High	52 WK Hi	% From Hi	Volume % DAV	DAV
AFOP - NASDAQ - ELECTRONICS - Semiconductor - Specialized Alliance Fiber Optic	$20.14	+0.13 0.65%	$20.40	$20.49	-1.71%	69,946 138.51%	50,500
Most Recent Note for AFOP - 5/24/2013 12:17:44 PM Very extended from any sound base following considerable gap up gains for new 52-week highs this week after raising guidance for its 2nd quarter. Noted in the prior mid-day reports repeatedly with caution - "This Sunnyvale, CA based Telecom - Fiber Optics firm showed better increases in sales and earnings for the Sep, Dec '12, and Mar '13 quarters versus the year ago period, above the +25% minimum guideline (C criteria). Prior quarterly and annual earnings (A criteria) history has been below the fact-based investment system's guidelines."
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ALKS - NASDAQ - Medical-Biomed/Biotech Alkermes Plc	$33.41	+0.41 1.24%	$34.30	$34.30	-2.59%	1,054,915 73.84%	1,428,600
Most Recent Note for ALKS - 5/24/2013 12:19:49 PM Rallying to new 52-week highs today after an impressive "positive reversal" on the prior session. Reported earnings +233% on +25% sales revenues for the Mar '13 quarter versus the year ago period, but fundamental concerns remain. Prior mid-day reports cautioned- "Earnings history is not a match with the fact-based investment system's guidelines."
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APFC - NASDAQ - CHEMICALS - Synthetics American Pacific Corp	$27.81	+0.06 0.22%	$27.93	$28.33	-1.84%	18,500 59.68%	31,000
Most Recent Note for APFC - 5/24/2013 12:20:12 PM Still perched at its 52-week high after a spurt of volume-driven gains. Prior mid-day reports recently cautioned - "Earnings history is not a match with the fact-based investment system's guidelines (C and A criteria)."
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BOFI - NASDAQ - BANKING - Savings & Loans B O F I Holding Inc	$41.19	+0.20 0.49%	$41.48	$41.84	-1.55%	72,619 68.90%	105,400
Most Recent Note for BOFI - 5/24/2013 12:21:51 PM Found support at its 50 DMA line and now perched at its 52-week high. The 5/23/13 mid-day report noted - "Quarterly earnings increases in 3 of the past 4 comparisons through Mar '13 have been above the +25% minimum guideline (C criteria). It has earned high ranks, however a downturn in its FY '11 earnings is a flaw with respect to the A criteria. The Finance - Savings & Loan industry currently has a 36 Group Relative Strength Rating, however some Finance firms are providing leadership. There are 11.9 million shares reportedly in the publicly traded float, and the small supply (S criteria) of shares can contribute to greater price volatility upon any institutional buying or selling."
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BRFS - NYSE - Food-Meat Products B R F S A Adr	$23.77	-0.09 -0.38%	$24.04	$24.89	-4.50%	1,131,738 65.57%	1,726,100
Most Recent Note for BRFS - 5/24/2013 12:24:21 PM This Food - Meat Products firm's earnings history is not a match with the fact-based investment system's guidelines (C and A criteria). Lack of sales revenues growth indicates no great demand for new (N criteria) products or services.
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BX - NYSE - FINANCIAL SERVICES - Asset Management Blackstone Group Lp	$22.61	+0.36 1.62%	$22.74	$23.80	-5.00%	3,128,724 61.82%	5,060,800
Most Recent Note for BX - 5/24/2013 12:26:01 PM Found support above its 50 DMA line and prior highs after losses with above average volume this week. Reported earnings +164% on +31% sales revenues for the Mar '13 quarter, but fundamental concerns remain due to its erratic earnings history. When rallying above its 2011 high into new high territory it was noted in 3/13/13 mid-day report with caution - "Quarterly and annual earnings history (C and A criteria) is not a match with the fact-based investment system's guidelines."
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CPA - NYSE - TRANSPORTATION - Regional Airlines Copa Holdings Sa	$133.15	+1.36 1.03%	$133.41	$140.89	-5.49%	233,856 64.64%	361,800
Most Recent Note for CPA - 5/24/2013 12:28:47 PM Perched near its 52 week high, consolidating after volume-driven gains into new high territory. Gapped up when last noted in the 5/14/13 mid-day report with caution - "Reported earnings +37% on +18% sales revenues for the Mar '13 quarter. The 5 prior quarterly comparisons had earnings below the +25% guideline (C criteria), leaving fundamental concerns. Despite fundamental shortcomings its shares found support and then rallied considerably since dropped from the Featured Stocks list on 9/30/11."
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CSPI - NASDAQ - COMPUTER SOFTWARE & SERVICES - Business Software & Services C S P Inc	$8.12	-0.22 -2.64%	$8.33	$8.70	-6.67%	15,729 59.35%	26,500
Most Recent Note for CSPI - 5/24/2013 12:30:26 PM Today it is pulling back from its 52-week high after stubbornly holding its ground in a tight range following an impressive spurt of volume-driven gains. Found support at its 200 DMA line during its consolidation since noted in the 2/12/13 mid-day report with caution amid news headlines concerning a North & Webster $7.00 per share all-cash offer - "Earnings history is not a match with the fact-based investment system's guidelines (C & A criteria). Low-priced stocks are discouraged from consideration unless all key criteria are solidly satisfied."
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EGHT - NASDAQ - TELECOMMUNICATIONS - Communication Equipment Eight By Eight Inc	$7.87	-0.09 -1.13%	$7.93	$8.10	-2.84%	571,018 101.37%	563,300
Most Recent Note for EGHT - 5/24/2013 12:36:27 PM Holding its ground today following an impressive "positive reversal" after a gap down tested support at its 50 DMA line on the prior session. Reported earnings +25% on +18% sales revenues for the Mar '13 quarter, but fundamental concerns remain. Found support at its 200 DMA line during the choppy consolidation since noted in the 12/18/12 mid-day report with caution - "Prior earnings history has not been strong and steady, leaving some fundamental concerns. Low-priced stocks are discouraged from consideration under the fact-based investment system unless all key criteria are solidly satisfied."
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FNGN - NASDAQ - FINANCIAL SERVICES - Asset Management Financial Engines Inc	$42.34	-0.06 -0.14%	$42.39	$44.33	-4.49%	186,594 58.96%	316,500
Most Recent Note for FNGN - 5/24/2013 12:42:31 PM Hovering near its 52-week high, enduring mild distributional pressure this week following a previous spurt of volume-driven gains. Held its ground stubbornly and rallied further into new high territory since last noted in the 5/08/13 mid-day report with caution - "Reported earnings +50% on +29% sales revenues for the Mar '13 quarter, an improvement from earnings +14% on +26% sales revenues for the Dec '12 quarter (below the +25% minimum earnings guideline). Prior mid-day reports cautioned - 'It has earned high ranks but its earnings history is not a good match with the investment system's guidelines (C and A criteria).'"
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IIIN - NASDAQ - METALS & MINING - Steel & Iron Insteel Industries Inc	$18.18	+0.08 0.46%	$18.33	$18.89	-3.74%	136,491 270.28%	50,500
Most Recent Note for IIIN - 5/24/2013 12:46:06 PM This Mount Airy, NC-based maker of steel wire reinforcements and prestressed concrete strands has an erratic earnings history that is not a match with the fact-based investment system's guidelines (C and A criteria). Lack of sales revenues growth indicates no great demand for new (N criteria) products or services.
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IRG - NASDAQ - LEISURE - Restaurants Ignite Restaurant Group	$18.80	-0.09 -0.48%	$18.97	$20.42	-7.93%	105,807 148.81%	71,100
Most Recent Note for IRG - 5/24/2013 12:48:13 PM Encountering mild distributional pressure this week after wedging to a new 52-week high with recent gains lacking great volume conviction. This Retail - Restaurant firm's earnings history is not a match with the fact-based investment system's guidelines (C and A criteria).
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MGA - NYSE - AUTOMOTIVE - Auto Parts Magna Intl Inc	$65.10	-0.68 -1.03%	$65.62	$66.71	-2.41%	407,126 57.54%	707,600
Most Recent Note for MGA - 5/24/2013 12:49:24 PM Still holding its ground stubbornly near its 52-week high since gapping up when noted in the 5/10/13 mid-day report with caution - "Its earnings history is below guidelines. Shares split 2:1* on 11/26/10 and it survived but failed to impress since noted with caution in the 1/12/11 mid-day report."*
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PBH - NYSE - CONSUMER NON-DURABLES - Personal Products Prestige Brands Holdings	$28.55	+0.30 1.06%	$28.55	$35.21	-18.92%	171,122 64.02%	267,300
Most Recent Note for PBH - 5/24/2013 12:51:36 PM Retreating from its 52-week high following a "negative reversal" last week. No resistance remains due to overhead supply, however it is extended from any sound base pattern. Reported earnings +38% on +15% sales revenues for the Mar '13 quarter, marking its 5th consecutive quarter with earnings above the +25% minimum guideline (C criteria) following 3 sub par quarterly comparisons. Its annual earnings (A criteria) history has not been especially strong, and consensus estimates are calling for FY '14 earnings +7% and FY '15 earnings +9%.
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TARO - NYSE - DRUGS - Drug Manufacturers - Other Taro Pharmaceutical Inds	$59.30	-3.92 -6.20%	$63.00	$64.24	-7.69%	66,198 300.90%	22,000
Most Recent Note for TARO - 5/24/2013 1:00:58 PM Reported earnings +7% on +14% sales revenues for the Mar '13 quarter, below the fact-based investment system's guidelines. Gapped down for a damaging loss with above average volume, now trading near its 50 DMA line, up from earlier lows. This Israel-based Medical - Generic Drugs firm faced no resistance due to overhead supply when last noted in the 5/14/13 mid-day report with caution - "Rallying from an orderly flat base pattern above its 50 DMA line. Reported earnings +40% on +25% sales revenues for the Dec '12 quarter, a solid improvement following its previously noted sub par results for the Sep '12 quarter (below the +25% minimum guideline for the C criteria). The number of top-rated funds owning its shares from 2 in Mar '12 to 20 as of Mar '13, a reassuring sign concerning the I criteria."
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TM - NYSE - AUTOMOTIVE - Auto Manufacturers - Major Toyota Motor Corp Adr	$120.03	-4.63 -3.71%	$121.76	$130.99	-8.37%	705,412 107.30%	657,400
Most Recent Note for TM - 5/24/2013 1:02:32 PM Gapped down again today, abruptly retreating from its 52-week high hit earlier this week, enduring heavy distributional pressure. Reported earnings +127% on -10% sales revenues for the Mar '13 quarter. Cleared an orderly 8-week flat base when noted in the 4/08/13 mid-day report with caution - "Erratic earnings history is not a match with the fact-based investment system's guidelines."
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TXRH - NASDAQ - LEISURE - Restaurants Texas Roadhouse Inc	$23.73	-0.17 -0.71%	$23.92	$24.63	-3.65%	428,298 58.12%	736,900
Most Recent Note for TXRH - 5/24/2013 1:05:18 PM Volume totals have been cooling while holding its ground stubbornly since gapping up on 4/30/13 for a new 52-week high. The 4/30/13 mid-day report cautioned - "The 3 latest quarterly comparisons through Mar '13 showed earnings increases below the +25%* minimum guideline (C criteria). Fundamental concerns remain..."*
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WSM - NYSE - RETAIL - Home Furnishing Stores Williams Sonoma Inc	$55.31	-1.39 -2.45%	$56.45	$57.22	-3.34%	1,780,350 130.97%	1,359,400
Most Recent Note for WSM - 5/24/2013 1:07:15 PM Churning above average volume in recent weeks while holding its ground near its 52-week high and well above its 50 DMA line. Last noted in the 1/17/13 mid-day report with caution - "Earnings and sales revenues increases are not a match with the fact-based investment system's guidelines."
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