Markets were mixed as investors digest tepid economic data and mixed earnings reports. On the economic front, data was largely in-line with expectations. Weekly jobless claims only slightly beat consensus expectations with a 367,000 reading. Separately, non-farm business productivity for the fourth-quarter met expectations, while output cost rose +1.2%. Fed Chairman Ben Bernanke's testimony before Congress provided no hint at a third round of quantitative easing.

Precious metals managed to stage a strong climb with a +1.0% gain for gold to $1,754.50 per ounce. Silver scored a +2.7% gain by settling at $34.15 per ounce.  European markets closed at their session highs with the FTSE in London up +0.1% and the German DAX advancing +0.6%.  

The further expansion in leadership (stocks making new 52-week highs) has maintained the current confirmed market uptrend. As this commentary has repeated, the M criteria requires a healthy crop of strong leaders for any sustained market advance. While the market has recently produced a larger crop of stocks hitting new highs, it always remains important for investors to be selective in choosing high-ranked buy candidates while being disciplined and following sound rules for buying and selling. 

The most timely stocks worthy of consideration under the fact-based system are included on the Featured Stocks Page.  There members can drill down and review all prior analysis and annotated graphs via the links provided.  Via the Premium Member Homepage links to all prior reports and webcasts are always available.

PICTURED: The Dow Jones Industrial Average's monthly chart illustrates how the Blue Chip index has rallied 4 consecutive months from the 2011 "Bear Market" low to within -1.3% of its 2011 peak, and it is now perched -10.5% off its 2007 all-time high of 14,198.

Celgene Corp (CELG +$0.24 or +0.32% to $74.16) posted a quiet gain today and finished at a new high close for the year. Recently it has been noted while also trading within close striking distance of its all-time high ($77.39 in Aug '08). It is forming an advanced "3-weeks tight" type base well above its 50-day moving average (DMA) line and its prior highs in the $68 area which define chart support to watch on pullbacks. Its color code is changed to yellow with a new pivot point cited based on its 1/17/12 high plus 10 cents. Subsequent volume-driven gains above the pivot point cited may trigger a new (or add-on) technical buy signal.

This high-ranked Medical -Biomed/ Biotech firm's last appearance in this FSU section was on 12/29/11 with an annotated graph under the headline, "High-Ranked Biomed/Biotech Firm Perched Near High - Thursday, December 29, 2011", and its ability to subsequently power into new high territory with additional volume-driven gains (4 consecutive gains January 9-12) provided a most reassuring sign that it may be capable of a meaningful and sustained advance. Earnings increases have been strong, but the latest quarter ended Dec 31, 2011 had the smallest % gain in sales revenues in the past 2 years of comparisons.

Bullish market environments often offer multiple opportunities to accumulate the same high-ranked company's shares within the fact-based system's guidelines. As we have reminded members before, patience and discipline are required, and the fact-based system's buying tactic called pyramiding can be especially helpful to investors who may have struggled to make progress with their portfolios. As always, disciplined investors limit losses if any stock ever falls more that -7% from their buy point.