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AFTER MARKET UPDATE - MONDAY, APRIL 19TH, 2010
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Indices NYSE Nasdaq
DOW  +73.39 11,092.05 +0.67% Volume 1,267,229,350 -28% Volume 2,109,100,560 -25%
NASDAQ -1.15 2,480.11 -0.05% Advancers 1,333 42% Advancers 1,026 36%
S&P 500 +5.39 1,197.52 +0.45% Decliners 1,693 54% Decliners 1,679 60%
Russell 2000 -3.22 711.40 -0.45% 52 Wk Highs 100   52 Wk Highs 117  
S&P 600 -0.51 378.27 -0.13% 52 Wk Lows 13   52 Wk Lows 17  

Indices Overcome Jitters Following SEC Fraud Charges Against Goldman

The major averages ended mixed after Daimler AG (DAI +5.70%) and Citigroup (C +7.02%) reported better-than-expected results and news broke that the Securities and Exchange Commission did not unanimously approve pursuing a case against Goldman Sachs Group Inc. (GS +1.63%). As expected, volume, an important indicator of institutional sponsorship, slid compared to Friday's heavier options-related totals. Decliners led advancers by a 3-to-2 ratio on the Nasdaq exchange and by a 17-to-13 ratio on the NYSE. New 52-week highs still easily trumped new lows on both exchanges. There were only 16 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, lower than the 37 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally, but that number abruptly contracted amid the latest bout of distribution.

Goldman Sachs ended the session higher but below its 50-day moving average (DMA) line after word spread that the SEC voted 3-2 along party lines to charge the investment giant with fraud. Citigroup gapped higher and closed near its intra-day high after reporting solid Q1 results. The company said earnings more than doubled in the first quarter and said it would not be here without the help of the US taxpayer. Auto giant, Daimler AG rallied after posting preliminary profit of 1.2 billion euros ($1.62 billion).

After Monday's close, International Business Machine (IBM +1.22%) reported stronger than expected Q1 results. The company raised its full year EPS to $11.20, from $11.12. Remember, it is important to note that the major averages have been steadily rallying since early February and a pullback of some sort should be expected. The prior commentary's observation, "Since the March 1, 2010 follow-though-day (FTD) a handful of distribution days has not been the least bit damaging to the market's confirmed rally" - was immediately followed with the 6th distribution day for the S&P 500 Index, a sign of mounting pressure on this 8-week rally. Trade accordingly. 

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PICTURED: The Nasdaq Composite Index traded under a steep upward trendline but finished the session strong.




Financial Groups Bounce Back With Small Gains

On Monday the market overcame jitters after fraud charges last week against Goldman Sachs had rattled investors, and financial groups including the Broker/Dealer Index ($XBD +0.73%) and Bank Index ($BKX +0.99%) posted small gains.  The Healthcare Index ($HMO +2.79%) was a standout gainer, but most other groups backpedaled. The tech sector was mainly dragged lower by the Semiconductor Index ($SOX -1.04%) and small losses from the Networking Index ($NWX -0.54%) and Internet Index ($IIX -0.49%).  The Biotechnology Index ($BTK -0.14%), Gold & Silver Index ($XAU -0.12%), and the Retail Index ($RLX -0.09%) edged lower, and energy shares were quiet as the Oil Services Index ($OSX -0.09%) and Integrated Oil Index ($XOI +0.04%) were virtually unchanged.

Charts courtesy www.stockcharts.com

PICTURED: The Gold & Silver Index ($XAU -0.12%) slumped back toward its 50-day and 200-day moving average lines and the previously shown trendline which it has impressively rallied above at the start of April.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  211.42 -0.19 -0.09% +8.47%
Healthcare $HMO  1,554.84 +42.15 +2.79% +5.56%
Integrated Oil $XOI  1,112.31 +0.48 +0.04% +4.13%
Semiconductor $SOX  389.66 -4.09 -1.04% +8.27%
Networking $NWX  269.10 -1.47 -0.54% +16.46%
Internet $IIX  254.65 -1.26 -0.49% +8.89%
Broker/Dealer $XBD  120.83 +0.88 +0.73% +5.02%
Retail $RLX  474.94 -0.44 -0.09% +15.52%
Gold & Silver $XAU  168.47 -0.20 -0.12% +0.13%
Bank $BKX  55.29 +0.54 +0.99% +29.45%
Biotech $BTK  1,224.29 -1.76 -0.14% +29.95%


Distributional Pressure Quickly Eroded Recent Gains

Cninsure Inc (CISG -$0.23 or -0.89% to $25.47) ended with a small loss today. Distributional pressure is weighing on the current rally, and 3 out of 4 stocks tend to follow the direction of the broader market (M criteria). Heavy distributional pressure on 4/16/10 raised concerns as the first ugly action seen in CISG since its appearance with an annotated graph under the headline, "More Extended After Gain Today With Three Times Average", in the Featured Stock Update section of the 3/23/10 After Market Update.  Prior chart highs and its 50-day moving average (DMA) line in the $24 area define an important support level.

Some investors might be bold enough to consider accumulating shares, as institutional investors often accumulate shares in healthy companies when they pull back near their short term average lines. An aggressive investor might have courage to "buy the dips" as some patient investors may have been waiting in recent weeks for an opportunity to accumulate shares under its "max buy" level.  Disciplined investors may be wise to continue waiting for another ideal entry point, and to see it the broader market (M criteria) improves.  Meanwhile, more worrisome damage to the stock's chart and additional distribution in the market would serve as more serious warning signals prompting investors to reduce exposure, rather than accumulate more shares.

CISG traded up as much as +17.4% since featured in yellow as it rose from a 20-week double bottom base with 8 times average volume and was featured in the 3/03/10 mid-day report (read here) color coded yellow with pivot point cited based on its 11/18/09 high. This China-based insurance broker has shown strong earnings and sales growth above the +25% guideline but generally decelerating over the course of recent years. The lack of leadership in the Insurance-Brokers industry group also remains a concern with respect to the investment system's L criteria.


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
$13.06 -0.11 1,604,393
99% DAV
1,628,100
2/19/2010
(Date Featured)
$12.71
(Price Featured)
PP = $11.94 G
MB = $12.54
Most Recent Note - 4/19/2010 4:07:05 PM
G - Closed in the upper third of its intra-day range today, a sign of prompt support after early lows near previously noted support levels to watch - its 50 DMA line and recent chart low $12.21 on 3/19/10.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/31/2010. 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
$613.50 -18.87 1,965,007
122% DAV
1,613,100
1/13/2010
(Date Featured)
$431.25
(Price Featured)
PP = $426.75 G
MB = $448.09
Most Recent Note - 4/19/2010 4:10:38 PM
G - Pulled back today for a considerable loss, with slightly higher volume indicative of distribution. It has been repeatedly noted as extended from any sound base after 10 consecutive weekly gains, however it could produce more climactic gains, especially due to the small supply (S criteria) of shares outstanding.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/24/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
BPI - NYSE
Bridgepoint Education
DIVERSIFIED SERVICES - Education &; Training Services
$26.31 +0.88 386,184
92% DAV
417,800
4/13/2010
(Date Featured)
$25.59
(Price Featured)
PP = $25.76 Y
MB = $27.05
Most Recent Note - 4/19/2010 4:12:29 PM
Y- Gain today on near average volume after a light volume pullback above its prior high close ($25.40 on 3/24/10). Consolidating near its 52 week high since appearing in yellow in the 4/13/10 mid-day report (read here), when it triggered a new technical buy signal as it rose from a cup-with-high-handle
>>> The latest Featured Stock Update with an annotated graph appeared on 4/13/2010. 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
$47.28 +0.52 150,036
152% DAV
99,000
2/12/2010
(Date Featured)
$39.02
(Price Featured)
PP = $40.97 G
MB = $43.02
Most Recent Note - 4/19/2010 4:17:37 PM
G - Perched at its all-time high today after wedging higher for a streak of 9 consecutive small gains without great volume conviction. Its recent chart low ($42.54 on 3/26/10) is an initial support level to watch near its short-term average.
>>> The latest Featured Stock Update with an annotated graph appeared on 4/16/2010. 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
$25.47 -0.23 341,051
137% DAV
249,400
3/3/2010
(Date Featured)
$24.38
(Price Featured)
PP = $23.10 G
MB = $24.26
Most Recent Note - 4/19/2010 4:19:42 PM
G - Small loss today on above average volume after a big loss on 4/16/10 with 3 times average volume indicative of heavy distributional pressure. Pulled back near prior chart highs and its 50 DMA line in the $24 area which define an important support level. It traded up as much as +17.4% since featured in yellow in the 3/03/10 mid-day report (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 4/19/2010. 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
$82.65 -0.83 1,784,814
99% DAV
1,806,600
3/5/2010
(Date Featured)
$72.28
(Price Featured)
PP = $75.53 G
MB = $79.31
Most Recent Note - 4/19/2010 4:31:14 PM
G - Consolidating near all-time highs, extended from prior chart highs and well above its "max buy" level. Volume totals were below the investment system guidelines as it rallied above its latest pivot point.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/25/2010. 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
$37.12 -1.96 3,816,117
194% DAV
1,968,500
3/25/2010
(Date Featured)
$40.74
(Price Featured)
PP = $39.40 G
MB = $41.37
Most Recent Note - 4/19/2010 4:33:16 PM
G - Down considerably today with above average volume after a gap down, closing just under its 50 DMA line. Its color code was changed to green based on weakness under its pivot point. Encountered distributional pressure since 3/25/10 when a detailed Stock Bulletin with annotated graph and expert analysis was published (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 4/12/2010. 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
$21.95 +0.56 476,242
93% DAV
509,900
4/14/2010
(Date Featured)
$21.80
(Price Featured)
PP = $22.29 Y
MB = $23.40
Most Recent Note - 4/19/2010 4:40:03 PM
Y - Today's gain leaves it perched on the right side of a better than 5-week flat base with no overhead supply to act as resistance. Last week its color code was changed to yellow with new pivot point noted. Its 50 DMA line and its recent chart low ($19.73 on 3/16/10) define near-term support for this high-ranked Finance - Consumer/Commercial Loans firm.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/29/2010. 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
$90.69 -3.66 1,642,543
161% DAV
1,022,900
2/26/2010
(Date Featured)
$84.39
(Price Featured)
PP = $88.75 G
MB = $93.19
Most Recent Note - 4/19/2010 4:43:12 PM
G - Gapped down today with heavier volume behind its 6th consecutive loss. Testing support at its 50-day moving average (DMA) line now, this high-ranked leader may build a late-stage base after already rallying more than 6-fold from its November '08 low.
>>> The latest Featured Stock Update with an annotated graph appeared on 4/5/2010. 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
$361.98 +1.59 1,028,366
186% DAV
554,100
4/13/2010
(Date Featured)
$363.46
(Price Featured)
PP = $367.10 G
MB = $385.46
Most Recent Note - 4/19/2010 4:47:37 PM
G - Held its ground today. Considerable loss with 4 times average volume on 4/16/10 after reporting earnings negated its latest breakout with a close below its old high close. Color code was changed to green. ISRG was featured again in the 4/13/10 mid-day report (read here) with new pivot point cited based on its 3/03/10 high.
>>> The latest Featured Stock Update with an annotated graph appeared on 4/7/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
LOPE - NASDAQ
Grand Canyon Education
DIVERSIFIED SERVICES - Education &; Training Services
$26.99 +0.03 267,442
79% DAV
337,800
4/13/2010
(Date Featured)
$27.71
(Price Featured)
PP = $27.33 Y
MB = $28.70
Most Recent Note - 4/19/2010 4:51:40 PM
Y - Small gain today, but it ended near the session low. Recently consolidating below its pivot point, any subsequent weakness leading to a close below its old high close ($26.64 on 3/25/10) would raise concerns. Featured in the 4/13/10 mid-day report (read here), its gain triggered a technical buy after an advanced "3-weeks tight" type pattern.
>>> The latest Featured Stock Update with an annotated graph appeared on 4/14/2010. 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 3/30/2010. 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
$37.82 -0.19 131,421
73% DAV
179,400
2/26/2010
(Date Featured)
$36.00
(Price Featured)
PP = $38.55 Y
MB = $40.48
Most Recent Note - 4/19/2010 4:56:18 PM
Y - Ended in the upper third of its intra-day range today with a small loss on below average volume. A violation of its 50 DMA line or its recent low ($36.42 on 4/12/10) would raise concerns and trigger technical sell signals. Volume totals have been quiet while consolidating since 3/15/10, staying in a tight trading range near support.
>>> The latest Featured Stock Update with an annotated graph appeared on 4/6/2010. 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
$36.87 -0.73 622,404
47% DAV
1,334,700
2/25/2010
(Date Featured)
$33.54
(Price Featured)
PP = $34.87 G
MB = $36.61
Most Recent Note - 4/19/2010 4:58:38 PM
G - Quietly consolidating today only -4.2% off its 52-week high, perched above prior chart highs and its 50 DMA line coinciding in the $34 area which define an important support level to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 4/8/2010. 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
$38.94 +0.13 572,617
97% DAV
589,300
2/16/2010
(Date Featured)
$36.43
(Price Featured)
PP = $36.15 G
MB = $37.96
Most Recent Note - 4/19/2010 5:04:05 PM
G - Held its ground today, continuing to hover near its 52-week high. Prior chart highs and its 50 DMA line in the $36 area define an initial support level to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 3/26/2010. 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
$22.17 -1.44 431,919
110% DAV
391,900
3/12/2010
(Date Featured)
$22.81
(Price Featured)
PP = $21.72 G
MB = $22.81
Most Recent Note - 4/19/2010 5:07:16 PM
G - Considerable loss today with slightly above average volume, sinking toward prior chart highs and its 50 DMA line which define support to watch in the $21 area. It made very little progress since the detailed Stock Bulletin and 3/12/10 mid-day report appearance.
>>> The latest Featured Stock Update with an annotated graph appeared on 4/1/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
VIT -

$24.15 -0.15 655,344
101% DAV
650,300
4/9/2010
(Date Featured)
$23.79
(Price Featured)
PP = $23.95 Y
MB = $25.15
Most Recent Note - 4/19/2010 5:09:26 PM
Y - Consolidating near its 52-week high, but it has faced some distributional pressure. On 4/09/10 it triggered a technical buy signal as a solid gain with heavy volume more than 4 times average helped it trade above its pivot point after a 5-week consolidation. Color code was yellow with new pivot point noted in the 4/09/10 mid-day report (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 4/9/2010. 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
$59.44 +0.21 414,272
111% DAV
372,400
3/1/2010
(Date Featured)
$57.72
(Price Featured)
PP = $59.70 G
MB = $62.69
Most Recent Note - 4/19/2010 5:10:21 PM
G - Held its ground again today, and it has recently found impressive support near its 50 DMA line. A subsequent violation of the short-term average or recent chart low ($55.45) would raise concerns and trigger technical sell signals. It did not trigger a new technical buy signal since it was featured in the March 2010 CANSLIM.net News monthly newsletter (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 4/15/2010. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile

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