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AFTER MARKET UPDATE - TUESDAY, MARCH 11TH, 2014
Previous After Market Report Next After Market Report >>>
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DOW |
-67.43 |
16,351.25 |
-0.41% |
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Volume |
629,778,150 |
+2% |
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Volume |
2,335,937,130 |
+20% |
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NASDAQ |
-27.26 |
4,307.19 |
-0.63% |
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Advancers |
988 |
31% |
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Advancers |
705 |
26% |
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S&P 500 |
-9.54 |
1,867.63 |
-0.51% |
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Decliners |
2,044 |
65% |
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Decliners |
1,907 |
71% |
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Russell 2000 |
-13.49 |
1,187.05 |
-1.12% |
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52 Wk Highs |
107 |
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52 Wk Highs |
127 |
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S&P 600 |
-6.86 |
673.45 |
-1.01% |
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52 Wk Lows |
26 |
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52 Wk Lows |
12 |
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Volume Increased as Major Averages Endured Distributional Pressure
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major averages ended lower again on Tuesday's session. The volume totals were reported higher on the NYSE and on the Nasdaq exchange, indicating more distributional selling pressure coming from institutional investors. Decliners led advancers by a 2-1 margin on the NYSE and 8-3 on the Nasdaq exchange. There were 38 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, up from the total of 31 stocks on the prior session. The list of stocks hitting new 52-week highs still easily outnumbered new 52-week lows on the Nasdaq exchange and on the NYSE. There were losses for all of the 12 high-ranked companies currently included on the Featured Stocks Page. The Market (M criteria) environment has been noted as a "Confirmed Uptrend". For any rally to be sustained it is critical for there to be healthy leadership, so it remains crucial for many stocks to continue hitting new 52-week highs.
The major averages extended their losses into the closing bell. The Dow Jones Industrial Average fell by 67 points to 16,351, the S&P 500 gave up 9 points to 1,867 and the NASDAQ shed 27 points with the index closing at 4,307.
Selling accelerated in the final hours of trading, leading all 10 S&P sectors into the red. Exxon Mobil Corp (XOM -1.56%) fell and energy stocks were among the session's worst performers as crude oil prices fell to their lowest levels since Valentine's Day. Shares of On the earnings front, Dick's Sporting Goods (DKS +4.31%) rose after the company reported earnings that were in-line with analysts' estimates. On the downside, Urban Outfitters (URBN -4.27%) fell as the retailer warned that its current-quarter results could fall short of its prior forecast. In other news, shares of Jos A Bank (JOSB +3.87%) rose after reaching a deal to be acquired by Men's Wearhouse (MW +4.71%) for $65 per share.
Turning to fixed income markets, Treasuries were modestly higher along the curve. The benchmark 10-year note was up 3/32 to yield 2.77% and the 30-year bond added 1/4 of a point to yield 3.71%.
The CANSLIM.net Featured Stocks Page shows the most action-worthy candidates and their latest notes and a Headline Link directs members to the latest detailed analysis with data-packed graphs annotated by a Certified expert along with links to additional resources. 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 Dow Jones Industrial Average is perched -1.43% off its all-time high hit on 12/31/13.
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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. |
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Financial, Tech, and Energy-Related Groups Led Decliners
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD -1.41%) and the Bank Index ($BKX -1.08%) lost ground and weighed negatively on the major averages on Tuesday. The Networking Index ($NWX -1.62%) led the tech sector lower while the Biotechnology Index ($BTK -1.08%) and the Semiconductor Index ($SOX -0.55%) followed with smaller losses. The Retail Index ($RLX -0.66%) edged lower. Energy-related shares fell and the Oil Services Index ($OSX -1.18%) and Integrated Oil Index ($XOI -0.91%) lost ground while the Gold & Silver Index ($XAU +0.01%) finished flat.
Charts courtesy www.stockcharts.com
PICTURED: The Retail Index ($RLX -0.66%) recently stalled near its prior highs after rebounding from a test of suport at its longer-term 200-day moving average (DMA) line.
| Oil Services |
$OSX |
278.75 |
-3.34 |
-1.18% |
-0.81% |
| Integrated Oil |
$XOI |
1,479.49 |
-13.57 |
-0.91% |
-1.57% |
| Semiconductor |
$SOX |
570.08 |
-3.14 |
-0.55% |
+6.55% |
| Networking |
$NWX |
342.66 |
-5.65 |
-1.62% |
+5.78% |
| Broker/Dealer |
$XBD |
161.91 |
-2.31 |
-1.41% |
+0.84% |
| Retail |
$RLX |
932.87 |
-6.20 |
-0.66% |
-0.74% |
| Gold & Silver |
$XAU |
99.87 |
+0.01 |
+0.01% |
+18.68% |
| Bank |
$BKX |
70.60 |
-0.77 |
-1.08% |
+1.93% |
| Biotech |
$BTK |
2,800.98 |
-30.59 |
-1.08% |
+20.19% |
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Bullish Gap Up Followed By Wedging and Stalling Action
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Generac Hldgs Inc (GNRC -$1.10 or -1.87% to $57.67) has been "wedging" higher in recent weeks, not showing compelling evidence of recent institutional accumulation while making limited headway above prior resistance in the $57 area. The volume totals have been below average behind all of its recent gains since its big gap up gain on 2/13/14. Members were previously cautioned - "Volume should be at least +40% above average as a stock rallies above its pivot point to trigger a proper technical buy signal."
It was last shown in this FSU section on 2/14/14 with annotated graphs under the headline, "Following Island Reversal Prior Highs May Act as Resistance", as it had gapped up on the prior session for a considerable volume-driven gain completing a bullish "island reversal" pattern (see yellow highlighted area on the daily graph). The "island" was created by its 1/24/14 gap down and then the 2/13/14 gap up, which helped its technical stance improve by rebounding from below its 50-day moving average (DMA) line to challenge its 52-week high. In the 2/14/14 mid-day report (read here) it was highlighted in yellow as it returned to the Featured Stocks list with a new pivot point based on its 1/06/14 high plus 10 cents. Members were previously reminded - "It may likely encounter resistance near prior highs, however, any more convincing volume-driven gains into new high territory may confirm a new technical buy signal."
The high-ranked Electrical - Power/Equipment firm reported earnings +28% on +10% sales revenues for the Dec '13 quarter, continuing its strong earnings history satisfying the C criteria. Consensus estimates are calling for FY '14 earnings down -13%, and its currently low P/E valuation (0.8 X SP) suggests that the market has a timid outlook for future growth which is cause for some concern. 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 has seen an increase in the number of top-rated funds owning its shares from 280 in Dec '12 to 440 in Dec '13, an encouraging sign concerning the I criteria. Its small float of only 42.6 million shares (S criteria) can contribute to greater price volatility in the event of institutional buying or selling.
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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 |
EQM
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NYSE
E Q T Midstream Partners
ENERGY - Oil and Gas Pipelines
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$64.69
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-0.56
-0.86% |
$65.78
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39,391
34.86% of 50 DAV
50 DAV is 113,000
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$67.80
-4.59%
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12/12/2013
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$53.17
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PP = $56.51
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MB = $59.34
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Most Recent Note - 3/10/2014 3:47:05 PM
G - Still stubbornly holding its ground since reporting earnings -2% on +22% sales revenues for the Dec '13 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns. Its 50 DMA line ($62.85 now) defines near-term support where a violation may trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Resilient Despite Fundamental Concerns - 3/3/2014
View all notes |
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C
A N
S L
I M
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FB
-
NASDAQ
Facebook Inc Cl A
INTERNET
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$70.10
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-1.93
-2.68% |
$72.59
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59,348,188
100.12% of 50 DAV
50 DAV is 59,280,000
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$72.15
-2.84%
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12/12/2013
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$51.40
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PP = $54.93
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MB = $57.68
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Most Recent Note - 3/10/2014 3:48:57 PM
G - Hitting another new all-time high with today's gain. Getting more extended from any sound base and its 50 DMA line ($61.97 now) defining near-term support to watch.
>>> FEATURED STOCK ARTICLE : High-Ranked Internet Group Leader is Extended From Base - 2/25/2014
View all notes |
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C
A N
S L
I M
|
FLT
-
NYSE
Fleetcor Technologies
DIVERSIFIED SERVICES - Business/Management Services
|
$122.92
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-1.15
-0.93% |
$124.78
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515,536
45.14% of 50 DAV
50 DAV is 1,142,000
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$132.22
-7.03%
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3/5/2014
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$125.40
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PP = $124.06
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MB = $130.26
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Most Recent Note - 3/11/2014 5:38:07 PM
Y - Volume totals have been cooling while consolidating near prior highs in the $123 area defining initial support to watch. Deterioration leading to a close below its old high close ($122.70 on 12/02/13) would raise greater concerns and completely negate the recent breakout.
>>> FEATURED STOCK ARTICLE : Consolidating Following Recent Breakout to New High Territory - 3/5/2014
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C
A N
S L
I M
|
GNRC
-
NYSE
Generac Hldgs Inc
Electrical-Power/Equipmt
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$57.67
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-1.10
-1.87% |
$59.25
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450,783
47.90% of 50 DAV
50 DAV is 941,000
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$59.74
-3.46%
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2/14/2014
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$56.50
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PP = $57.39
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MB = $60.26
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Most Recent Note - 3/11/2014 5:27:34 PM
Y - Wedging higher in recent weeks while making limited headway above prior resistance in the $57 area. Volume should be at least +40% above average as a stock rallies above its pivot point to trigger a proper technical buy signal. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Bullish Gap Up Followed By Wedging and Stalling Action - 3/11/2014
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C
A N
S L
I M
|
ICON
-
NASDAQ
Iconix Brand Group Inc
CONSUMER NON-DURABLES - Textile - Apparel Footwear
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$40.70
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-0.49
-1.19% |
$41.34
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406,414
66.73% of 50 DAV
50 DAV is 609,000
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$42.47
-4.16%
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3/7/2014
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$41.46
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PP = $40.88
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MB = $42.92
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Most Recent Note - 3/10/2014 3:54:30 PM
Y - Holding its ground above prior highs in the $40 area defining near-term support. Encountered distributional pressure on the prior session after highlighted in yellow with pivot point cited based on its 12/02/13 high plus 10 cents in the mid-day report (read here). See the latest FSU analysis for more details and annotated daily and weekly graphs.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure Following Recent Breakout - 3/7/2014
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C
A N
S L
I M
|
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 |
KORS
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NYSE
Michael Kors Hldgs Ltd
RETAIL - Apparel Stores
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$98.04
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-0.23
-0.23% |
$99.46
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1,570,581
43.72% of 50 DAV
50 DAV is 3,592,000
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$101.04
-2.97%
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2/4/2014
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$90.92
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PP = $84.68
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MB = $88.91
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Most Recent Note - 3/11/2014 5:40:56 PM
G - Still stubbornly holding its ground in a tight range near its 52-week high with volume totals cooling in recent weeks indicating that few investors have headed for the exit. Its 50 DMA line ($88) defines the nearest support above prior highs in the $84 area.
>>> FEATURED STOCK ARTICLE : Extended From Sound Base and Wedging Higher - 2/19/2014
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C
A N
S L
I M
|
LEAF
-
NYSE
Springleaf Holdings Inc
Finance-Consumer Loans
|
$27.29
|
-0.57
-2.05% |
$27.57
|
441,711
149.73% of 50 DAV
50 DAV is 295,000
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$29.50
-7.49%
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2/24/2014
|
$28.60
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PP = $27.44
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MB = $28.81
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Most Recent Note - 3/11/2014 12:34:56 PM
Y - Still consolidating above prior highs in the $27 area defining initial support to watch. Disciplined investors avoid chasing extended stocks more than +5% above prior highs and always limit losses by selling any stock that falls more than -7% from their purchase price.
>>> FEATURED STOCK ARTICLE : Breakout Backed by Four Times Average Volume - 2/24/2014
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C
A N
S L
I M
|
PCLN
-
NASDAQ
Priceline.com Inc
INTERNET - Internet Software and Services
|
$1,326.30
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-17.14
-1.28% |
$1,347.69
|
628,119
81.79% of 50 DAV
50 DAV is 768,000
|
$1,378.96
-3.82%
|
12/18/2013
|
$1,156.20
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PP = $1,198.85
|
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MB = $1,258.79
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Most Recent Note - 3/10/2014 5:33:40 PM
G - Volume totals have been cooling while perched near its 52-week high, stubbornly holding its ground. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Perched At Highs With Volume Totals Cooling - 3/10/2014
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C
A N
S L
I M
|
PSIX
-
NASDAQ
Power Solutions Intl Inc
Machinery-Gen Industrial
|
$83.91
|
-0.54
-0.64% |
$87.40
|
80,176
133.63% of 50 DAV
50 DAV is 60,000
|
$86.00
-2.43%
|
2/28/2014
|
$74.65
|
PP = $76.93
|
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MB = $80.78
|
Most Recent Note - 3/7/2014 4:00:13 PM
G - Hit another new 52-week high today's considerable volume-driven gain and its color code is changed to green after rallying beyond its "max buy" level. The prior gain above the pivot point was backed by +92% above average volume triggering a technical buy signal.
>>> FEATURED STOCK ARTICLE : Earnings Solid and Forming a Cup-With-Handle - 2/28/2014
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C
A N
S L
I M
|
SILC
-
NASDAQ
Silicom Ltd
COMPUTER HARDWARE - Networking andamp; Communication Dev
|
$67.35
|
-0.06
-0.09% |
$68.05
|
94,143
114.81% of 50 DAV
50 DAV is 82,000
|
$73.44
-8.29%
|
12/23/2013
|
$44.62
|
PP = $46.25
|
|
MB = $48.56
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Most Recent Note - 3/10/2014 3:59:39 PM
G - Pulled back from all-time highs with today's 3rd consecutive loss. Very extended from any sound base after a streak of 11 straight weekly gains. Patient investors may watch for a new base or secondary buy point to possibly develop and be noted in the weeks ahead.
>>> FEATURED STOCK ARTICLE : Very Extended From Prior Base After 11 Straight Weekly Gains - 3/6/2014
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C
A N
S L
I M
|
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 |
ULTI
-
NASDAQ
Ultimate Software Group
INTERNET - Internet Software and Services
|
$155.12
|
-2.51
-1.59% |
$159.42
|
271,333
188.43% of 50 DAV
50 DAV is 144,000
|
$171.96
-9.79%
|
1/27/2014
|
$153.75
|
PP = $162.98
|
|
MB = $171.13
|
Most Recent Note - 3/11/2014 5:32:29 PM
G - Volume was higher behind today's 5th consecutive damaging loss. Weak action triggered a technical sell signal while slumping below its 50 DMA line and its color code is changed to green. Only a prompt rebound above the 50 DMA line would help its outlook improve.
>>> FEATURED STOCK ARTICLE : Near 52--Week High Following Another Volume-Driven Gain - 3/4/2014
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C
A N
S L
I M
|
VRX
-
NYSE
Valeant Pharmaceuticals
DRUGS - Drug Manufacturers - Other
|
$139.96
|
-0.78
-0.55% |
$141.38
|
1,297,900
77.07% of 50 DAV
50 DAV is 1,684,000
|
$153.10
-8.58%
|
9/11/2013
|
$100.26
|
PP = $105.50
|
|
MB = $110.78
|
Most Recent Note - 3/7/2014 1:16:35 PM
G - Testing its 50 DMA line ($134) which defines near-term support. A more damaging violation may raise serious concerns and trigger a more worrisome technical sell signal.
>>> FEATURED STOCK ARTICLE : Strong Earnings Report; On Track for 9th Weekly Gain in 10 Weeks - 2/27/2014
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C
A N
S L
I M
|
|
|
|
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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