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AFTER MARKET UPDATE - MONDAY, MARCH 15TH, 2010
Previous After Market Report Next After Market Report >>>
Indices NYSE Nasdaq
DOW  +17.46 10,642.15 +0.16% Volume 925,505,591 -12% Volume 1,909,810,395 -6%
NASDAQ -5.45 2,362.21 -0.23% Advancers 1,263 40% Advancers 1,103 39%
S&P 500 +0.52 1,150.51 +0.05% Decliners 1,733 55% Decliners 1,560 56%
Russell 2000 -2.18 674.41 -0.32% 52 Wk Highs 262   52 Wk Highs 157  
S&P 600 -0.77 358.16 -0.21% 52 Wk Lows 5   52 Wk Lows 6  

Major Averages End Quiet Session Mixed Ahead of Fed Decision on Rates

The major averages ended mixed as concern spread that China and India may begin seeking measures to curb their robust economies as inflation picks up. Compared to the prior session, volume fell on the NYSE and Nasdaq exchange. Decliners led advancers by almost a 3-to-2 ratio on the NYSE and on the Nasdaq exchange. There were 43 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, down from the 58 issues that appeared on the prior session. New 52-week highs again overwhelmingly trumped new lows on both exchanges.

The US dollar rallied which put pressure on dollar denominated assets; mainly, stocks and commodities. Two important economic reports were released on Monday: Industrial production and the Empire State manufacturing index. US industrial production unexpectedly grew +0.1% last month while manufacturing in the New York region rose for an 8th consecutive month.

On Tuesday, the Federal Reserve is slated to announce its latest decision on interest rates and give its opinion on the state of the US economy. Analysts believe that the Fed will hold rates steady and largely reiterate its comments from its last meeting about the state of the economy. Inflation in Asia jumped to a 16-month high last month which led many analysts to believe that the Chinese and Indian Central banks will begin raising rates in the near future to curb their economy and combat inflation.

Looking at the market, since the March 1, follow-through-day (FTD) the market and a batch of leading stocks steadily rallied. The fact that we have not seen any serious distribution days since the FTD bodes well for this nascent rally. It is also a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data.Remember that now that a new rally has been confirmed, the window is open to start buying high quality breakouts. Trade accordingly.

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PICTURED: The benchmark S&P 500 Index is challenging its recovery highs while Nasdaq Composite and Small-Cap Indices have rallied on to new highs.




Semiconductor Index Lagging Behind Tech Sector Indices

The Biotechnology Index ($BTK +0.93%), Healthcare Index ($HMO +0.24%), and Retail Index ($RLX +0.41%) posted modest gains while offsetting weakness in other groups kept the major averages from making headway.  Financial shares showed mixed action as the Broker/Dealer Index ($XBD -0.52%) ended with a small loss while the Bank Index ($BKX +0.20%) edged higher.  Commodity-linked areas traded with a slightly negative bias as the Oil Services Index ($OSX -1.16%), Integrated Oil Index ($XOI -0.68%), and Gold & Silver Index ($XAU -0.32%) suffered small losses. The Internet Index ($IIX +0.00%) and Networking Index ($NWX +0.03%) held their ground, meanwhile the Semiconductor Index ($SOX -1.39%) was a standout laggard in the tech sector.

Charts courtesy www.stockcharts.com

PICTURED: The Semiconductor Index ($SOX -1.39%) fell for a third consecutive loss, ending -5.52% off its recovery high.  Of the tech sector indexes routinely followed in this section it is the only one without a solid year-to-date (YTD) gain.  This suggests that chip-related companies as a group are lagging, while other industry groups within the tech sector have been showing better leadership (L criteria) and could offer investors more ideal buy candidates with better odds of working out favorably on the long side.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  210.19 -2.46 -1.16% +7.83%
Healthcare $HMO  1,473.41 +3.47 +0.24% +0.03%
Integrated Oil $XOI  1,066.65 -7.25 -0.68% -0.15%
Semiconductor $SOX  350.43 -4.94 -1.39% -2.63%
Networking $NWX  256.41 +0.07 +0.03% +10.97%
Internet $IIX  245.65 +0.00 +0.00% +5.04%
Broker/Dealer $XBD  118.25 -0.62 -0.52% +2.78%
Retail $RLX  444.12 +1.67 +0.38% +8.03%
Gold & Silver $XAU  165.51 -0.53 -0.32% -1.63%
Bank $BKX  50.56 +0.10 +0.20% +18.38%
Biotech $BTK  1,239.46 +11.42 +0.93% +31.56%


Software Firm Breaks Out After Announcing Acquisition Plans

Pegasystems Inc. (PEGA +2.47 or +7.15% to $39.30) gapped up today and rallied to a new 52-week high. The considerable gain above its pivot point with more than 3 times average volume met the requirement for a technical buy signal.  The bullish action came after the high-ranked Computer Software - Financial firm announced plans to buy Chordiant Software Inc (CHRD), a firm with sub par fundamentals under the investment system guidelines. It is far more common for any company making an acquisition to pull back while the firm being acquired rises, however the market reacted positively to the news and lifted PEGA shares. Prior chart highs are now an initial support level to watch on subsequent pullbacks.

It recently found support near its 50-day moving average (DMA) line. Mostly healthy action has followed since its color code was changed to yellow 2/26/10 with a new pivot point cited and an annotated graph included under the headline "Consolidation Continues For Computer Software Firm."  It was featured in the January 2010 issue of CANSLIM.net News (read here). The company has attracted an increasing number of institutional investors, as the number of top-rated funds owning its shares rose from 43 in Sep '08 to 90 in Dec '09, which is a solid reassurance concerning the investment system's I criteria. It has shown good sales revenues increases and its earnings increases were well above the +25% guideline in the 5 last quarterly comparisons versus the year ago period.


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 quote data in this table corresponds with the timestamp on the note***
 
Symbol/Exchange
Company Name
Industry Group
Last Chg. Vol
% DAV
Date  Featured Price Featured Latest Pivot Point
Featured
Status
Latest Max Buy Price
ARUN - NASDAQ
Aruba Networks Inc
COMPUTER HARDWARE - Networking & Communication Dev
$12.96 -0.17 813,714
55% DAV
1,479,000
2/19/2010
(Date Featured)
$12.71
(Price Featured)
PP = $11.94 G
MB = $12.54
Most Recent Note - 3/15/2010 6:27:15 PM
G - Loss today on light volume, consolidating after recent gains on high volume. It is extended from its prior base, and support to watch is now defined by prior chart highs and its 50 DMA line.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/11/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
BIDU - NASDAQ
Baidu Inc Ads
INTERNET - Internet Information Providers
$576.84 +26.60 5,195,446
264% DAV
1,969,900
1/13/2010
(Date Featured)
$431.25
(Price Featured)
PP = $426.75 G
MB = $448.09
Most Recent Note - 3/15/2010 6:29:29 PM
G - Closed in the lower half of its intra-day range today after gapping up and rallying for a considerable gain with heavy volume greater than any session in over 4 weeks while headlines continue to swirl concerning search giant Google Inc. (GOOG) and its China pullout. BIDU is very extended from any sound base.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/4/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
BRLI - NASDAQ
Bio Reference Labs Inc
HEALTH SERVICES - Medical Laboratories & Researc
$44.37 -0.65 84,013
85% DAV
98,500
2/12/2010
(Date Featured)
$39.02
(Price Featured)
PP = $40.97 G
MB = $43.02
Most Recent Note - 3/15/2010 6:34:00 PM
G - Down today with lighter volume after a negative reversal on 3/12/10. It is extended from its prior base, and prior chart highs and its 50 DMA line now coincide in the $40 area defining important support to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/1/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
CACC - NASDAQ
Credit Acceptance Corp
FINANCIAL SERVICES - Credit Services
$43.00 -0.61 39,774
68% DAV
58,800
9/29/2009
(Date Featured)
$33.48
(Price Featured)
PP = $37.10 G
MB = $38.96
Most Recent Note - 3/15/2010 6:35:47 PM
G - Loss on light volume today, remaining below its 50 DMA line which has recently acted as resistance. Recent lows in the $38 area are a nearby chart support level to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/2/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
CISG - NASDAQ
Cninsure Inc Ads
INSURANCE - Insurance Brokers
$25.40 -0.11 213,058
98% DAV
216,900
3/3/2010
(Date Featured)
$24.38
(Price Featured)
PP = $23.10 G
MB = $24.26
Most Recent Note - 3/15/2010 6:36:56 PM
G - Stubbornly holding its ground while perched near its 52-week high. No overhead supply remains to act as resistance. It rose from a 20-week double bottom base with 8 times average volume as it was featured in the 3/03/10 mid-day report (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 3/3/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
CRM - NYSE
Salesforce.com Inc
INTERNET - Internet Software & Services
$75.60 -0.11 1,414,301
69% DAV
2,051,700
3/5/2010
(Date Featured)
$72.28
(Price Featured)
PP = $75.53 Y
MB = $79.31
Most Recent Note - 3/15/2010 6:39:09 PM
Y - A small loss today ended a streak of 7 consecutive small gains. It remains perched above its pivot point after wedging higher last week following a 9-week base. Its 50 DMA line and recent chart low ($64.77 on 2/25/10) define important support.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/5/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
CTRP - NASDAQ
Ctrip.com Intl Ltd Adr
LEISURE - Resorts & Casinos
$37.97 -0.68 1,297,994
60% DAV
2,163,300
3/1/2010
(Date Featured)
$38.23
(Price Featured)
PP = $38.50 Y
MB = $40.43
Most Recent Note - 3/15/2010 6:41:08 PM
Y - Down today on lighter than average volume, but slumping back below its pivot point. Completed an offering of additional shares on 3/03/10, shortly after featured in the March 2010 issue of CANSLIM.net News (read here). A gain above its pivot point or its most recent chart highs is still needed to confirm a fresh technical buy signal with +50% above average volume or more.
>>> The latest Featured Stock Update with an annotated graph appeared on 2/28/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
EZPW - NASDAQ
Ezcorp Inc Cl A
SPECIALTY RETAIL - Specialty Retail, Other
$20.40 -1.57 1,897,278
385% DAV
492,500
2/19/2010
(Date Featured)
$19.03
(Price Featured)
PP = $18.80 G
MB = $19.74
Most Recent Note - 3/15/2010 6:42:48 PM
G - Considerable loss today on heavy volume nearly 4 times average, a sign it is encountering distributional pressure after getting extended from any sound base of support. Prior chart highs in the $18 area and its 50 DMA line define an important support level to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/8/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
GMCR - NASDAQ
Green Mtn Coffee Roastrs
FOOD & BEVERAGE - Processed & Packaged Goods
$93.09 +0.44 1,151,857
87% DAV
1,329,000
2/26/2010
(Date Featured)
$84.39
(Price Featured)
PP = $88.75 Y
MB = $93.19
Most Recent Note - 3/15/2010 6:58:44 PM
Y - Posted a 4th consecutive gain with near average volume today, approaching its max buy level. Hovering near all-time highs since its gain on 3/08/10 triggered a new technical buy signal. Initial support to watch now would be prior chart highs in the $86-88 area.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/12/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
ISRG - NASDAQ
Intuitive Surgical Inc
HEALTH SERVICES - Medical Appliances & Equipment
$356.00 -2.90 315,166
62% DAV
510,600
1/22/2010
(Date Featured)
$340.40
(Price Featured)
PP = $314.00 G
MB = $329.70
Most Recent Note - 3/15/2010 7:00:48 PM
G - Small loss today on light volume, continuing its consolidation in a tight range, perched quietly near all-time highs. Prior chart highs near $346 are now a support level to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 2/24/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
PCLN - NASDAQ
Priceline.com Inc
INTERNET - Internet Software & Services
$399.55 -4.72 584,812
N/A
11/1/2002
(Date Featured)
$399.55
(Price Featured)
PP = $428.20 Y
MB = $449.61
Most Recent Note - 1/2/2011
Y - Returns to Featured Stocks list with its appearance in the January 2011 CANSLIM.net News including detailed analysis and annotated daily and weekly graphs.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/10/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
PEGA - NASDAQ
Pegasystems Inc
COMPUTER SOFTWARE & SERVICES - Business Software & Services
$39.30 +2.47 705,071
344% DAV
204,800
2/26/2010
(Date Featured)
$36.00
(Price Featured)
PP = $38.55 Y
MB = $40.48
Most Recent Note - 3/15/2010 7:04:28 PM
Y - Gapped up today and triggered a technical buy signal as it rallied with more than 3 times average volume to a new 52-week high above its pivot point. The bullish action came after announcing plans to buy Chordiant Software Inc (CHRD), a firm with sub par fundamentals under the investment system guidelines. Recently found support at its 50 DMA line, while prior chart lows in the $32 area are the next support level.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/15/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
ROVI - NASDAQ
Rovi Corp
COMPUTER SOFTWARE & SERVICES - Security Software & Services
$37.83 +0.01 1,208,911
91% DAV
1,331,300
2/25/2010
(Date Featured)
$33.54
(Price Featured)
PP = $34.87 G
MB = $36.61
Most Recent Note - 3/15/2010 7:07:03 PM
G - Ended a penny higher today for an 8th consecutive gain. Prior chart highs in the $34 area define an important support level to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 2/25/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
SIRO - NASDAQ
Sirona Dental Systems
HEALTH SERVICES - Medical Instruments & Supplies
$37.45 +0.40 713,900
126% DAV
568,700
2/16/2010
(Date Featured)
$36.43
(Price Featured)
PP = $36.15 Y
MB = $37.96
Most Recent Note - 3/15/2010 7:08:39 PM
Y - Small gain today for its second best close ever, approaching its max buy level. Prior chart highs and its 50 DMA line in the $35-36 area define important support to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/9/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
ULTA - NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
$22.11 -1.22 1,143,103
304% DAV
376,000
3/12/2010
(Date Featured)
$22.81
(Price Featured)
PP = $21.72 Y
MB = $22.81
Most Recent Note - 3/15/2010 7:10:49 PM
Y - Gapped down today for a loss on high volume after an analyst downgrade. Prior chart highs in the $21 area now define a very important technical support level. A detailed Stock Bulletin with annotated graph was published soon after it was featured in the 3/12/10 mid-day report.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/12/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
VPRT - NASDAQ
Vistaprint Nv
DIVERSIFIED SERVICES - Business/Management Services
$60.00 -0.87 442,152
89% DAV
495,300
3/1/2010
(Date Featured)
$57.72
(Price Featured)
PP = $59.70 Y
MB = $62.69
Most Recent Note - 3/15/2010 7:12:58 PM
Y - Today was its 4th consecutive small loss, yet it is still consolidating only -4.4% from its 3/09/10 all-time high. It did not yet trigger a technical buy signal since featured in the March 2010 CANSLIM.net News monthly newsletter (read here). As previously noted, "Its gain on 3/02/10 was below the volume guidelines for buyable breakouts under the investment system."
>>> The latest Featured Stock Update with an annotated graph appeared on 2/28/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile

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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