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AFTER MARKET UPDATE - WEDNESDAY, MARCH 19TH, 2014
Previous After Market Report Next After Market Report >>>
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DOW |
-114.02 |
16,222.17 |
-0.70% |
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Volume |
650,800,860 |
+13% |
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Volume |
1,871,922,290 |
+3% |
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NASDAQ |
-25.71 |
4,307.60 |
-0.59% |
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Advancers |
760 |
24% |
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Advancers |
935 |
34% |
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S&P 500 |
-11.48 |
1,860.77 |
-0.61% |
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Decliners |
2,311 |
73% |
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Decliners |
1,752 |
63% |
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Russell 2000 |
-9.38 |
1,195.66 |
-0.78% |
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52 Wk Highs |
120 |
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52 Wk Highs |
124 |
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S&P 600 |
-5.09 |
677.82 |
-0.75% |
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52 Wk Lows |
23 |
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52 Wk Lows |
12 |
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Major Averages Encountered Distributional Pressure
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Wednesday the major averages ended lower on the session. Volume totals were reported higher on the NYSE and on the Nasdaq exchange, a sign of distributional selling pressure coming from the institutional crowd. Breadth was negative as decliners led advancers by more than a 3-1 margin on the NYSE and nearly 2-1 on the Nasdaq exchange. There were 42 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, down from the total of 48 stocks on the prior session. The list of stocks hitting new 52-week highs easily outnumbered new 52-week lows on the Nasdaq exchange and on the NYSE. There were gains for only 3 of the 11 high-ranked companies currently included on the Featured Stocks Page. The Market (M criteria) uptrend faced some recent pressure and yet the rally has continued. 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 Dow Jones Industrial Average gave up 114 points to 16,222, the S&P 500 shed 11 points to 1,860 and the NASDAQ was off 25 points with the index closing at 4307. Stocks extended their losses in afternoon trading following the Federal Reserve's policy announcement. While the $10 billion reduction in bond purchases was expected, stocks sank as Fed Chair Yellen said interest rates could be raised as soon as 6 months after the end of quantitative easing.
All 10 sectors on the S&P ended lower, led by decline in utility stocks including Duke Energy (DUK -2.18%). On the earnings front, shares of Oracle (ORCL -0.75%) was slightly lower as the company reported disappointing results citing weak tech spending and increased competition. In other news JP Morgan Chase & Co (JPM +0.41%) inched higher on reports that the company was selling its commodities unit to Swiss firm Mercuria for $3.5 billion.
Turning to fixed income markets, Treasuries ended higher along the curve. The benchmark 10-year note was up 11/32 to yield 2.66% and the 30-year bond gained 5/8 of a point to yield 3.60%.
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 consolidating above its 50-day moving average (DMA) line.
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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 Group Rallied Against Mostly Negative Group Action
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Financial shares fared better than most other industry groups on Wednesday's session as the Bank Index ($BKX +0.78%) posted a modest gain while the Broker/Dealer Index ($XBD +0.03%) finished flat. The Gold & Silver Index ($XAU -3.72%) was a standout decliner. Energy-related groups pulled back as the Integrated Oil Index ($XOI -1.22%) outpaced the Oil Services Index ($OSX -0.28%) to the downside. The Biotechnology Index ($BTK -1.13%) led the tech sector's retreat while the Networking Index ($NWX -0.32%) edged lower and the Semiconductor Index ($SOX -0.09%) held its ground. A small loss for the Retail Index ($RLX -0.76%) rounded out the mostly negative session.
Charts courtesy www.stockcharts.com
PICTURED: The Networking Index ($NWX -0.32%) recently found support near its 50-day moving average (DMA) line.
| Oil Services |
$OSX |
279.76 |
-0.78 |
-0.28% |
-0.45% |
| Integrated Oil |
$XOI |
1,474.87 |
-18.18 |
-1.22% |
-1.88% |
| Semiconductor |
$SOX |
576.69 |
-0.50 |
-0.09% |
+7.79% |
| Networking |
$NWX |
342.02 |
-1.09 |
-0.32% |
+5.58% |
| Broker/Dealer |
$XBD |
161.75 |
+0.04 |
+0.03% |
+0.74% |
| Retail |
$RLX |
922.75 |
-7.11 |
-0.76% |
-1.81% |
| Gold & Silver |
$XAU |
98.28 |
-3.80 |
-3.72% |
+16.79% |
| Bank |
$BKX |
71.32 |
+0.55 |
+0.78% |
+2.97% |
| Biotech |
$BTK |
2,806.61 |
-31.94 |
-1.13% |
+20.43% |
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Following Violation 50-Day Moving Average Acted as Resistance
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Ultimate Software Group (ULTI -$2.99 or -1.88% to $155.69) encountered resistance at its 50-day moving average (DMA) line. A rebound above that important short-term average would help its outlook improve. It posted light volume gains following damaging losses which led to a slump back into its prior base. Meanwhile, the Relative Strength rating has slumped to 76, below the 80+ minimum guideline for buy candidates.
ULTI was in healthier shape when last shown in this FSU section on 3/04/14 with annotated graphs under the headline, "Near 52--Week High Following Another Volume-Driven Gain". It found support above its 50-day moving average (DMA) line following a worrisome "negative reversal" on 2/05/14, but the latest slump below the 50 DMA line has not been met with such a prompt show of resilience.
Fundamentals remain strong after solid Dec '13 earnings up +42% on +21% sales revenues, continuing its strong earnings history satisfying the C and A criteria. The Computer Software - Enterprise firm saw the number of top-rated funds owning its shares rise from 396 in Jun '13 to 447 funds as of Dec '13, a reassuring trend in place concerning the I criteria. Its small supply of only 26.6 million shares (S criteria) in the public float can contribute to greater price volatility in the event of institutional buying or selling. Disciplined investors avoid chasing stocks extended more than +5% above prior highs and always limit losses by selling if any stock falls more than -7% from their purchase price. Any stock that is sold can always be bought again if strength returns.
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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 |
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Max Buy |
EQM
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NYSE
E Q T Midstream Partners
ENERGY - Oil and Gas Pipelines
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$66.18
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-0.78
-1.16% |
$66.93
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73,353
69.20% of 50 DAV
50 DAV is 106,000
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$67.80
-2.39%
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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 - 3/17/2014 6:45:35 PM
G - Posted a gain today, finding support above its 50 DMA line. 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 ($63.49 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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News |
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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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$68.24
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-0.95
-1.37% |
$69.29
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43,827,210
74.04% of 50 DAV
50 DAV is 59,196,000
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$72.59
-5.99%
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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 - 3/14/2014 5:36:57 PM
G - Pulling back after getting extended from any sound base. Its 50 DMA line ($63 now) defines near-term support to watch. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Pulling Back After Getting Extended From Prior Base - 3/14/2014
View all notes |
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C
A N
S L
I M
|
FLT
-
NYSE
Fleetcor Technologies
DIVERSIFIED SERVICES - Business/Management Services
|
$118.32
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-2.16
-1.79% |
$120.54
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632,786
54.96% of 50 DAV
50 DAV is 1,151,400
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$132.22
-10.51%
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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 - 3/17/2014 6:50:43 PM
Y - Recent slump below its old high close ($122.70 on 12/02/13) raised concerns as it completely negated the recent breakout. Still consolidating above its 50 DMA line, but its Relative Strength rating has slumped to 78, below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Consolidating Following Recent Breakout to New High Territory - 3/5/2014
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Chart |
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C
A N
S L
I M
|
GNRC
-
NYSE
Generac Hldgs Inc
Electrical-Power/Equipmt
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$60.57
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-0.10
-0.16% |
$61.25
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507,428
51.88% of 50 DAV
50 DAV is 978,000
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$62.50
-3.09%
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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 - 3/14/2014 5:43:54 PM
G - Color code is changed to green after finishing near the session high and above its "max buy" level with a solid gain today backed by +31% above average volume.
>>> 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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$40.42
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-0.45
-1.10% |
$40.97
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383,986
59.90% of 50 DAV
50 DAV is 641,000
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$42.47
-4.82%
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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 - 3/17/2014 12:10:11 PM
Y - Halting its 4-session losing streak with a gain today. Prior highs in the $40 area define near-term support. Highlighted in yellow with pivot point cited based on its 12/02/13 high plus 10 cents in the 3/07/14 mid-day report (read here) and covered in greater detail with annotated graphs in that evening's report.
>>> FEATURED STOCK ARTICLE : Encountered Distributional Pressure Following Recent Breakout - 3/7/2014
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News |
Chart |
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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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$98.71
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+1.94
2.00% |
$99.20
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3,020,546
84.49% of 50 DAV
50 DAV is 3,575,000
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$101.04
-2.31%
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3/12/2014
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$98.03
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PP = $101.14
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MB = $106.20
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Most Recent Note - 3/19/2014 6:07:36 PM
Y - Still stubbornly holding its ground in a very tight range near its 52-week high. Its 50 DMA line ($90) defines the nearest support above prior highs in the $84 area.
>>> FEATURED STOCK ARTICLE : Formed Advanced Base Pattern With Volume Totals Cooling - 3/12/2014
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C
A N
S L
I M
|
PCLN
-
NASDAQ
Priceline.com Inc
INTERNET - Internet Software and Services
|
$1,287.23
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-17.20
-1.32% |
$1,314.70
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707,789
89.03% of 50 DAV
50 DAV is 795,000
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$1,378.96
-6.65%
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12/18/2013
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$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 - 3/17/2014 12:14:38 PM
G - Halting its slide today after 2 consecutive big losses and closes near the session lows. Near-term support to watch is its 50 DMA line ($1,235).
>>> 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
|
$81.10
|
+1.54
1.94% |
$82.81
|
45,167
70.57% of 50 DAV
50 DAV is 64,000
|
$87.40
-7.21%
|
2/28/2014
|
$74.65
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PP = $76.93
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MB = $80.78
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Most Recent Note - 3/18/2014 5:08:56 PM
Y - Halted its slide with a solid gain today following 5 consecutive losses. Prior highs in the $78 area may act as support. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Halted Slide After Undercutting Prior Highs on Pullback - 3/18/2014
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C
A N
S L
I M
|
SILC
-
NASDAQ
Silicom Ltd
COMPUTER HARDWARE - Networking andamp; Communication Dev
|
$69.47
|
+0.57
0.83% |
$69.73
|
91,494
107.64% of 50 DAV
50 DAV is 85,000
|
$73.44
-5.41%
|
12/23/2013
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$44.62
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PP = $46.25
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MB = $48.56
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Most Recent Note - 3/19/2014 6:08:40 PM
G - Posted a 4th consecutive gain today. Previously noted - "Extended from any sound base. 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
|
ULTI
-
NASDAQ
Ultimate Software Group
INTERNET - Internet Software and Services
|
$155.69
|
-2.99
-1.88% |
$158.69
|
95,194
44.63% of 50 DAV
50 DAV is 213,300
|
$171.96
-9.46%
|
1/27/2014
|
$153.75
|
PP = $162.98
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MB = $171.13
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Most Recent Note - 3/19/2014 6:05:37 PM
G - Remains below its 50 DMA line after damaging losses. A rebound above that important short-term average would help its outlook improve. Its Relative Strength rating has slumped to 76, below the 80+ minimum guideline. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Following Violation 50-Day Moving Average Acted as Resistance - 3/19/2014
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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 |
VRX
-
NYSE
Valeant Pharmaceuticals
DRUGS - Drug Manufacturers - Other
|
$140.79
|
-3.39
-2.35% |
$144.43
|
1,520,603
87.04% of 50 DAV
50 DAV is 1,747,000
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$153.10
-8.04%
|
9/11/2013
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$100.26
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PP = $105.50
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MB = $110.78
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Most Recent Note - 3/17/2014 6:44:14 PM
G - Consolidating just above its 50 DMA line ($137.66) which defines near-term support. A more damaging violation may raise serious concerns and trigger a more worrisome technical sell signal. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Finding Support Above 50-Day Moving Average Line - 3/17/2014
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C
A N
S L
I M
|
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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.
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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