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 MIDDAY BREAKOUTS REPORT - THURSDAY, OCTOBER 28TH, 2010
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DOW 11096.46 -29.82 (-0.27%) | NASDAQ 2500.82 -2.44 (-0.10%) | S&P 500 1181.07 -1.38 (-0.12%)
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Time of Screening :
10/28/2010 12:05:32 PM Report Released :
10/28/2010 2:03:29 PM
Price is:
Above 52W High and Less Than 52W High
but within 8% of the 52 Week High
Volume Is:
At least 75% 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 |
EBIX
- NASDAQ
Ebix Inc
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$25.87
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+1.23
4.99%
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$26.36
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891,630
151.82% of 50 DAV
50 DAV is 587,300
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$26.36
-1.86%
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9/23/2010 |
$21.78
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PP = $22.74
MB = $23.88 |
Most Recent Note - 10/28/2010 12:51:21 PM
G - Gapped up today and hit a new all-time high, clearing a brief consolidation that is not a valid new base, yet no overhead supply remains to act as resistance. Support to watch is its recent low ($22.12 on 10/26/10) and its 50 DMA line. (JOBS was recently noted as an example of a "3 weeks tight" pattern, after it made more meaningful progress following an earlier breakout.)
>>> The latest Featured Stock Update with an annotated graph appeared on 9/24/2010. Click here.
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I M
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HS
-
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$26.96
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+0.42
1.58%
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$27.61
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1,115,505
158.97% of 50 DAV
50 DAV is 701,700
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$28.10
-4.06%
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8/27/2010 |
$19.91
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PP = $19.75
MB = $20.74 |
Most Recent Note - 10/28/2010 12:58:03 PM
G - Gapped down today following its latest earnings report. It briefly traded near its 50 DMA line, yet it has rebounded back into positive ground from its early lows, a sign of prompt support near that important short term average. Earnings were +23% with sales revenues +10% for the quarter ended September 30, 2010 versus the year ago period. That marks its weakest earnings increase in 5 quarterly comparisons, and the deceleration in sales raises concerns too.
>>> The latest Featured Stock Update with an annotated graph appeared on 10/22/2010. Click here.
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IGTE
- NASDAQ
Igate Corp
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$20.42
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+0.11
0.54%
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$21.10
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1,175,066
234.73% of 50 DAV
50 DAV is 500,600
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$21.10
-3.22%
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10/26/2010 |
$17.29
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PP = $19.55
MB = $20.53 |
Most Recent Note - 10/28/2010 1:15:13 PM
Y - Touched a new 52-week high today and traded above its "max buy" level earlier. Prior chart highs in the $19 area define initial chart support above its 50 DMA line. Its strong finish on 10/26/10, after it was last noted, confirmed a technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/10/2010. Click here.
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SVR
-
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$30.55
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+6.76
28.42%
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$31.14
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11,423,066
1,690.30% of 50 DAV
50 DAV is 675,800
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$31.21
-2.11%
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9/22/2010 |
$23.60
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PP = $23.87
MB = $25.06 |
Most Recent Note - 10/28/2010 1:47:58 PM
G - Considerable gain today after news Carlyle Group will buy Syniverse Technologies for $31 per share. Color code was changed to green after spiking above its "max buy" level.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/22/2010. Click here.
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Symbol - Exchange - Industry Group
Company Name |
Last |
Chg |
Day
High |
52 WK Hi |
% From Hi |
Volume
% DAV |
DAV |
AEM
- NYSE - METALS & MINING - Gold
Agnico Eagle Mines Ltd
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$74.00 |
+3.04
4.28%
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$74.11
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$74.72
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-0.96% |
2,503,101
118.37%
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2,114,600
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Most Recent Note for AEM - 10/28/2010 12:11:41 PM
Gapped up today, challenging its 52-week high. This Canadian firm reported huge sales revenues and earnings increases for the quarter ended September 30, 2010 versus the year ago period. Early October mid-day reports noted - "Rallying near its 52 week high toward multi-year highs. Recent quarterly sales revenues and earning increases have been very strong after a streak of negative comparisons. Its annual earnings (A criteria) history has also been up and down, not strong and steady. See the high-ranked leaders in the Mining - Gold/Silver/Gems group (L criteria) currently listed on the Featured Stocks page."
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AFOP
- NASDAQ - ELECTRONICS - Semiconductor - Specialized
Alliance Fiber Optic
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$10.37 |
-0.36
-3.36%
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$10.50
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$10.91
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-4.95% |
75,955
342.14%
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22,200
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Most Recent Note for AFOP - 10/28/2010 12:17:02 PM
Holding its ground above prior chart highs after a 10/22/10 technical breakout and follow-through gain. This Sunnyvale, CA based Telecom - Fiber Optics firm showed big increases in sales and earnings for the Jun and Sept '10 quarters versus the year ago period. Prior quarterly and annual earnings history has been below the fact-based investment system's guidelines.
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AKAM
- NASDAQ - INTERNET - Internet Software & Services
Akamai Technologies Inc
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$51.74 |
+1.35
2.68%
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$53.64
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$53.64
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-3.54% |
7,086,912
151.46%
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4,679,000
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Most Recent Note for AKAM - 10/28/2010 12:24:40 PM
Touched a new 52-week high today after gapping up for a second consecutive gain with above average volume. It slumped below its 50 DMA line after it was last noted in the 9/02/10 mid-day and earlier reports - "Gain on heavier volume helping it rally from the previously noted 'double bottom' type base pattern. Sales revenues and earnings history are below the fact-based investment system's guidelines."
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ARLP
- NASDAQ - METALS & MINING - Nonmetallic Mineral Mining
Alliance Res Partners Lp
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$58.39 |
-1.06
-1.78%
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$59.50
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$62.91
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-7.18% |
76,764
83.71%
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91,700
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Most Recent Note for ARLP - 10/28/2010 12:29:19 PM
Enduring distributional pressure this week and testing support at its 50 DMA line and its old 2008 highs. It had wedged higher without substantial volume behind subsequent gains after making it to new all-time highs while several mid-day reports noted- "This MLP in the Energy - Coal industry has a quarterly and annual earnings history that has not been strong and steady."
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BRKR
- NASDAQ - Medical-Systems/Equip
Bruker Corp
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$15.12 |
+0.20
1.31%
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$15.41
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$15.85
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-4.64% |
681,765
118.86%
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573,600
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Most Recent Note for BRKR - 10/28/2010 12:37:43 PM
After a streak of 9 weekly gains without great volume conviction, its gain with above average volume today has it approaching the 52-week high that it quietly crept to following its 4/12/10 mid-day report appearance. It has rebounded impressively after its subsequent trip below its long-term 200 DMA line. Sales revenues increases have been in the +10-20% range while earnings increases were above the +25% guideline in the past 5 quarterly comparisons through September 30, 2010. That followed a streak of negative comparisons. Its annual earnings (A criteria) have been up and down, leaving concerns.
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CEVA
- NASDAQ - ELECTRONICS - Semiconductor - Specialized
Ceva Inc
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$18.05 |
-0.05
-0.28%
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$18.86
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$19.25
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-6.23% |
482,008
245.67%
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196,200
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Most Recent Note for CEVA - 10/28/2010 12:42:04 PM
At its 52-week high and on track for a 4th consecutive gain backed by above average volume, extended from any sound base. It reported +17% earnings on +11% sales revenues for the quarter ended September 30, 2010 versus the year ago period. Held its ground stubbornly and continued rallying since noted in mid-day reports in September - "Rising above stubborn resistance in the $13 area with no overhead supply remaining to hinder its progress. Sales (+16%) and earnings (+50%) increases in the June 30, 2010 ended quarter showed acceleration after streak of comparisons showing weak or negative sales revenues versus the year ago period. It has a good annual earnings (A criteria) history."
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CRR
- NYSE - MATERIALS & CONSTRUCTION - General Building Materials
Carbo Ceramics Inc
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$83.36 |
-2.49
-2.90%
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$87.03
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$87.62
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-4.86% |
216,828
88.00%
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246,400
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Most Recent Note for CRR - 10/28/2010 12:47:53 PM
Hovering near all-time highs, there is no overhead supply to act as resistance. It failed to make meaningful price progress since last noted in the 10/21/10 mid-day report, which may be considered a distributional characteristic. Recent quarterly results showed great earnings and sales increases versus the year ago period. Prior quarterly and annual earnings (A criteria) history is below guidelines.
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CYD
- NYSE - MANUFACTURING - Diversified Machinery
China Yuchai Intl Ltd
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$24.33 |
-1.26
-4.92%
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$26.00
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$26.00
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-6.42% |
392,383
149.65%
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262,200
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Most Recent Note for CYD - 10/28/2010 12:49:46 PM
Pulling back today after a streak of 6 consecutive gains with heavy volume helped it hit new 52-week highs and clear stubborn resistance. Recent mid-day reports noted - "It found support near its 200 DMA line since it was last noted in the 4/30/10 mid-day report. Once again, no overhead supply remains to act as resistance, but the $22 area acted as a resistance level in the past. This Singapore-based maker of diesel engines for trucks and busses in China also went through a deep correction since noted in the mid-day report on 1/12/10. - 'Up and down annual earnings (A criteria) leaves fundamental concerns.'"
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IDCC
- NASDAQ - TELECOMMUNICATIONS - Wireless Communications
Interdigital Inc
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$32.83 |
+1.55
4.96%
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$33.59
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$33.63
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-2.38% |
880,286
208.06%
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423,100
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Most Recent Note for IDCC - 10/28/2010 1:02:47 PM
Gapped up today for a considerable gain and new 52-week high. It reported +14% earnings on +22% sales revenues for the quarter ended September 30, 2010. Gains earlier this week with above average volume helped it inch to new 52-week highs. Volume totals had been drying up while trading in a tight range since the 10/04/10 mid-day report noted - "Recent quarterly comparisons showed strong earnings (C criteria) and sales revenues increases, but its annual earnings (A criteria) history has not been strong and steady."
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ININ
- NASDAQ - COMPUTER SOFTWARE & SERVICES - Business Software & Services
Interactive Intelligence
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$24.25 |
+0.32
1.34%
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$24.38
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$24.38
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-0.53% |
110,045
92.24%
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119,300
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Most Recent Note for ININ - 10/28/2010 1:27:08 PM
Stubbornly held its ground and inched higher since a breakaway gap on 10/12/10, and topping its October 2009 highs today. No overhead supply remains to hinder its progress. Recent quarterly comparisons showed sales revenues accelerating from flat or single digit percentages up to the +18-19% range in the Mar and Jun '10 quarters , but its earnings rose only +8% in the quarter ended June 30, 2010. The downward turn in its FY '08 earnings (bad A criteria) is a concern. Weak technical action prompted its removal from the Featured Stocks list on 1/7/08, shortly after it had been featured in the December 2007 issue of CANSLIM.net News (read here).
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MKTX
- NASDAQ - FINANCIAL SERVICES - Investment Brokerage - Nationa
Marketaxess Holdings Inc
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$18.48 |
-0.02
-0.11%
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$18.64
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$18.64
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-0.86% |
119,090
88.28%
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134,900
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Most Recent Note for MKTX - 10/28/2010 1:34:42 PM
Hovering near its 52-week high, stubbornly holding its ground after recent volume driven gains helped it rise from a 5-month "V" shaped consolidation that included a trip below its 200 DMA line. The most current quarterly quarterly comparisons versus the year ago period showed great very strong earnings increases (good C criteria) and great sales revenues growth. Its history of up and down annual earnings (A criteria) is cause for concern, and the Finance - Investment Bankers industry group currently has a Relative Strength rating of 23 which indicates the group has been a weak laggard rather than a strong leader (L criteria).
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ORLY
- NASDAQ - RETAIL - Auto Parts Stores
O Reilly Automotive Inc
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$57.20 |
+2.80
5.15%
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$57.59
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$57.59
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-0.68% |
1,287,501
120.63%
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1,067,300
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Most Recent Note for ORLY - 10/28/2010 1:39:35 PM
Gapped up today, blasting to a new 52-week high after an orderly consolidation above earlier highs. Quarterly earnings increases have been accelerating from the +5 -13% range while earnings increases have been solidly above the +25% guideline and satisfying the C criteria. Several auto-parts firms are showing concurrent leadership, which is a common theme whenever economic conditions pressure more consumers into repairing their clunkers rather than buying new cars they cannot afford. Its annual earnings history has been sluggish (A criteria).
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POT
- NYSE - CHEMICALS - Agricultural Chemicals
Potash Corp Saskatchewan
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$143.62 |
-3.70
-2.51%
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$145.48
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$153.29
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-6.31% |
6,357,092
93.90%
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6,770,000
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Most Recent Note for POT - 10/28/2010 1:41:24 PM
The Chemicals-fertilizers firm gapped down today for a small loss, trading back under its 50 DMA line toward recent lows. Held its ground since a considerable gap up gain on 8/17/10 as it rejected an unsolicited bid to be acquired by BHP Billiton Ltd. Earnings and sales have been very strong in the 3 most recent quarterly comparisons versus the year earlier after streak of negative comparisons. Its annual earnings history (A criteria) was very strong until a downward turn in FY '09 marred its impressive track record.
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QTM
- NYSE - COMPUTER HARDWARE - Data Storage Devices
Quantum Corp Dssg
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$3.31 |
+0.11
3.44%
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$3.40
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$3.40
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-2.65% |
9,645,657
323.64%
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2,980,400
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Most Recent Note for QTM - 10/28/2010 1:47:34 PM
Low-priced stock hit a new 52-week and multi-year high today while on track for a 7th consecutive weekly gain with above average volume. Annual earnings history (A criteria) has been good in recent years, but recent quarterly comparisons showed sub par earnings growth. Sales revenues in all of the past quarterly comparisons have been flat, which shows no great demand for the company's products or services. Low-priced stocks are discouraged under the investment system's guidelines.
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SYNT
- NASDAQ - COMPUTER SOFTWARE & SERVICES - Information Technology Service
Syntel Inc
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$48.96 |
+0.66
1.37%
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$49.50
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$49.72
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-1.53% |
74,661
82.96%
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90,000
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Most Recent Note for SYNT - 10/28/2010 1:49:32 PM
Volume totals have been cooling while stubbornly holding its ground near its 52 week high. Noted in recent mid-day reports - "Sales revenues improved in recent quarterly comparisons but its earnings history does not match favorably with the C and A criteria."
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TQNT
- NASDAQ - ELECTRONICS - Semiconductor - Integrated Cir
Triquint Semiconductor
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$10.31 |
+0.02
0.19%
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$10.75
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$10.75
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-4.09% |
3,416,755
81.49%
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4,192,700
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Most Recent Note for TQNT - 10/28/2010 1:58:01 PM
No resistance remains due to overhead supply as it is hitting another new 52-week high today after finishing the prior session with a gain backed by great volume conviction. This followed a brief consolidation in a tight range above prior highs in the $8.50 area. Reported earnings +170% on +37% sales revenues for the quarter ended September 30, 2010. The C criteria is satisfied as its sales revenues and earnings increases in the 3 latest quarterly comparisons showed great improvement. Its annual earnings (A criteria) history is a concern as since FY '07 results have been nearly flat.
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USNA
- NYSE - DRUGS - Drug Related Products
U S A N A Health Science
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$44.90 |
-0.17
-0.38%
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$45.05
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$45.50
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-1.32% |
126,055
252.11%
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50,000
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Most Recent Note for USNA - 10/28/2010 2:03:13 PM
Holding its ground today after a considerable gap up gain on the prior session helped it touch a new 52-week high and break out of a "double bottom" base. This network marketer of dietary supplements, health foods, and skin care products reported sales revenues up +22% and earnings per share up +55% in the quarter ended September 30, 2010 versus the year ago period. It was last noted in the 9/03/10 mid-day report - "Showing recent improvement, but fundamentally the C and A criteria are not satisfied. Current earnings per share should be up +25% or more and in the 3 or 4 latest comparisons versus the year earlier, and ideally growth should be accelerating in recent quarters. Quarterly sales should also be up +25% or more or accelerating over prior quarters."
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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.
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