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AFTER MARKET UPDATE - FRIDAY, MAY 7TH, 2010
Previous After Market Report Next After Market Report >>>
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DOW |
-139.89 |
10,380.43 |
-1.33% |
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Volume |
2,420,069,140 |
-6% |
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Volume |
4,076,744,260 |
-7% |
NASDAQ |
-54.00 |
2,265.64 |
-2.33% |
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Advancers |
893 |
28% |
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Advancers |
611 |
22% |
S&P 500 |
-17.27 |
1,110.88 |
-1.53% |
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Decliners |
2,243 |
70% |
|
Decliners |
2,130 |
75% |
Russell 2000 |
-19.23 |
653.00 |
-2.86% |
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52 Wk Highs |
16 |
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52 Wk Highs |
14 |
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S&P 600 |
-10.26 |
350.69 |
-2.84% |
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52 Wk Lows |
60 |
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52 Wk Lows |
91 |
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Stocks Continue Falling After Worrisome Technical Damage
Adam Sarhan, Contributing Writer,
Stock markets around the world plunged this week as concern spread that Greece's debt woes will spread to other countries. Volume totals were reported lower on both the NYSE and on the Nasdaq exchange compared to Thursday's very high levels. Decliners trumped advancers by more than a 2-to-1 ratio on the NYSE, and by more than a 3-to-1 ratio on the Nasdaq exchange. New 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. For the first time in many months there were 0 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 6 issues that appeared on the prior session. Waning leadership has been evidenced by the recent lack of stocks making new highs as the rally came under pressure.
On Monday, stocks rallied after news spread that the EU and the IMF will bailout Greece. The news sent the EU plunging as fear spread that other EU nations will also need assistance. In the US, billionaire investor, Warren Buffett defended Goldman Sachs Group Inc. (GS +0.47%) at his annual shareholders meeting in Omaha. Last year, Buffett invested $5 billion in the investment bank and said the bank should not be blamed for losses on lousy mortgage bets. The major averages fell into a correction on Tuesday after the NYSE composite sliced below its 50-day moving average (DMA) line and the euro plunged to a fresh 14-month low. On Wednesday, stocks edged lower sending the benchmark S&P 500 and tech-heavy Nasdaq Composite index both below their respective 50 DMA lines on heavy turnover.
On Thursday, the European Central Bank (ECB) held interest rates steady at a record low of 1% as the Greek parliament approved austerity measures demanded by the EU and IMF. Shortly after the Greek parliament approved the measures, around 2:15PM EST, the Dow Jones Industrial Average plunged nearly 1,000 points before rebounding to close down -347 points on the day. The aggressive sell off briefly sent all of the major averages below their respective 200 DMA lines before a late day rebound. That was the Dow's largest single day point decline in history which reiterates the importance of raising capital when the market (M criteria) enters a correction. Even after the rebound from the intra-day lows, the Dow plunged on heavy volume as fear spread that the EU may collapse if other European countries fall behind on their debt payments. The euro tanked to a fresh 14-month low as gold topped $1,200 per ounce which suggests investors are moving away from so-called risky assets and into higher quality names. Stocks were trading all over the place on Friday after the government said US employers added 290,000 jobs last month as the unemployment rate rose to +9.9%.
Taking the appropriate action on a case-by-case basis with your stocks prompts investors to raise cash when any holdings start getting into the trouble zone. A reminder was added to many Featured Stocks' notes this week -Broader market action (M criteria) is normally expected to impact 3 out of 4 stocks. Trade accordingly.
PICTURED: The Nasdaq Composite Index came under heavy distributional pressure leading to a 50 DMA violation and slump below its January highs, quickly slumping toward its 200 DMA line.
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Widespread Weakness Weighs On All Groups
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Defensive groups were included among widespread losses on Friday as the Healthcare Index ($HMO -3.06%), Oil Services Index ($OSX -3.63%), Integrated Oil Index ($XOI -1.65%), and Gold & Silver Index ($XAU -1.55%) fell. The tech sector was weak as the Biotechnology Index ($BTK -3.05%), Internet Index ($IIX -2.97%), Networking Index ($NWX -2.66%), and Semiconductor Index ($SOX -1.64%) ended unanimously lower. The influential Retail Index ($RLX -1.72%) and financial groups also were on the decline as the Broker/Dealer Index ($XBD -1.62%) and Bank Index ($BKX -1.52%) rounded out a clearly negative session and dismal week of trading.
Charts courtesy www.stockcharts.com
PICTURED: The Bank Index ($BKX -1.52%) violated its 50-day moving average (DMA) line with losses this week.
Oil Services |
$OSX |
187.77 |
-7.07 |
-3.63% |
-3.67% |
Healthcare |
$HMO |
1,416.94 |
-44.67 |
-3.06% |
-3.80% |
Integrated Oil |
$XOI |
1,001.22 |
-16.82 |
-1.65% |
-6.27% |
Semiconductor |
$SOX |
346.75 |
-5.79 |
-1.64% |
-3.66% |
Networking |
$NWX |
242.36 |
-6.63 |
-2.66% |
+4.89% |
Internet |
$IIX |
233.06 |
-7.12 |
-2.97% |
-0.34% |
Broker/Dealer |
$XBD |
111.25 |
-1.83 |
-1.62% |
-3.30% |
Retail |
$RLX |
443.29 |
-7.77 |
-1.72% |
+7.82% |
Gold & Silver |
$XAU |
171.88 |
-2.71 |
-1.55% |
+2.16% |
Bank |
$BKX |
51.70 |
-0.80 |
-1.52% |
+21.05% |
Biotech |
$BTK |
1,047.37 |
-32.96 |
-3.05% |
+11.17% |
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Leadership In Group Waning Under Threat Of Regulatory Changes
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Bridgepoint Education (BPI -$1.03 or -4.32% to $22.84) suffered another loss today with above average volume and closed below its 50-day moving average (DMA) line. Leadership in the Commercial Services - Schools group has waned as many for-profit schools have encountered distributional pressure in the wake of recently proposed regulatory changes. Broader market action (M criteria) is normally expected to impact 3 out of 4 stocks, and widespread losses effectively ended the latest rally. BPI was featured in yellow in the 4/13/10 mid-day report (read here) as rose from a cup-with-high-handle hit a new 52 week high after a brief consolidation above its old chart high ($21.90). It has an impressive history of very strong annual and quarterly increases in sales revenues and earnings above the +25% guideline which is good concerning the C & A criteria.
A prompt sign of support near its 50 DMA line would be encouraging, while any further deterioration leading to a slump below its August 2009 highs would raise more serious concerns.
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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 |
BIDU
-
NASDAQ
Baidu Inc Ads
INTERNET - Internet Information Providers
|
$639.49
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-28.53
-4.27% |
$670.95
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1,704,627 111.97% of 50 DAV
50 DAV is 1,522,400
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$718.00 -10.93%
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1/13/2010
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$431.25
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PP = $426.75
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MB = $448.09
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Most Recent Note - 5/7/2010 3:36:52 PM
G - Damage is mounting today as it falls toward its 50 DMA line with a 4th consecutive loss, breaking a streak of 13 consecutive weekly gains. >>> The latest Featured Stock Update with an annotated graph appeared on 4/20/2010. Click here.
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C
A N
S L
I M
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BPI
-
NYSE
Bridgepoint Education
DIVERSIFIED SERVICES - Education and; Training Services
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$22.84
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-1.03
-4.32% |
$24.14
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704,568 137.96% of 50 DAV
50 DAV is 510,700
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$27.50 -16.95%
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4/13/2010
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$25.59
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PP = $25.76
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MB = $27.05
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Most Recent Note - 5/7/2010 4:01:50 PM
G - Loss today with above average volume, closing below its 50 DMA line, raising concerns. The Commercial Services - Schools firm was featured in yellow in the 4/13/10 mid-day report (read here) as rose from a cup-with-high-handle. >>> The latest Featured Stock Update with an annotated graph appeared on 5/7/2010. Click here.
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C
A N
S L
I M
|
BRLI
-
NASDAQ
Bio Reference Labs Inc
HEALTH SERVICES - Medical Laboratories and Researc
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$20.79
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-1.37
-6.18% |
$22.11
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335,205 179.25% of 50 DAV
50 DAV is 187,000
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$24.67 -15.74%
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2/12/2010
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$39.02
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PP = $20.49
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MB = $21.51
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Most Recent Note - 5/7/2010 3:31:51 PM
G - Damaging loss today on higher volume, sinking further below its 50 DMA line. Wild action on 5/06/10 intra-day undercut its 200 DMA line and revisited its November 2009 lows, yet it rebounded to close near its 50 DMA line and in the upper part of its range. Broader market action (M criteria) is normally expected to impact 3 out of 4 stocks, and widespread losses effectively ended the latest rally. >>> The latest Featured Stock Update with an annotated graph appeared on 4/16/2010. Click here.
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C
A N
S L
I M
|
CISG
-
NASDAQ
Cninsure Inc Ads
INSURANCE - Insurance Brokers
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$23.95
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-2.78
-10.40% |
$27.00
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601,429 229.12% of 50 DAV
50 DAV is 262,500
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$28.62 -16.32%
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3/3/2010
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$24.38
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PP = $23.10
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MB = $24.26
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Most Recent Note - 5/7/2010 2:01:16 PM
G - Considerable loss today on higher volume, violating its 50 DMA line and recent chart lows, triggering technical sell signals. Its color code is changed to green based on the damaging loss. >>> The latest Featured Stock Update with an annotated graph appeared on 4/19/2010. Click here.
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C
A N
S L
I M
|
CRM
-
NYSE
Salesforce.Com Inc
INTERNET - Internet Software and Services
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$77.52
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-3.38
-4.18% |
$81.39
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3,471,327 203.43% of 50 DAV
50 DAV is 1,706,400
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$89.50 -13.39%
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3/5/2010
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$72.28
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PP = $75.53
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MB = $79.31
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Most Recent Note - 5/7/2010 4:04:48 PM
G - Down today for a 4th consecutive loss, closing below its 50 DMA line and raising concerns. Broader market action (M criteria) is normally expected to impact 3 out of 4 stocks, and widespread losses effectively ended the latest rally. >>> The latest Featured Stock Update with an annotated graph appeared on 4/21/2010. Click here.
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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 |
EZPW
-
NASDAQ
Ezcorp Inc Cl A
SPECIALTY RETAIL - Specialty Retail, Other
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$18.30
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-0.67
-3.53% |
$18.77
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1,391,932 247.63% of 50 DAV
50 DAV is 562,100
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$23.75 -22.95%
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4/14/2010
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$21.80
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PP = $22.29
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MB = $23.40
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Most Recent Note - 5/7/2010 2:11:56 PM
G - Down today for a 4th consecutive losing session, sinking toward its 200 DMA line. Based on damaging action it will be dropped from the Featured Stocks list tonight. Considerable weakness intra-day on 5/06/10 led to trading under its 200 DMA line near its $10.00 July 2009 low, yet it rebounded to close with a very small. Broader market action (M criteria) is normally expected to impact 3 out of 4 stocks, and widespread losses effectively ended the latest rally. >>> The latest Featured Stock Update with an annotated graph appeared on 4/27/2010. Click here.
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C
A N
S L
I M
|
ISRG
-
NASDAQ
Intuitive Surgical Inc
HEALTH SERVICES - Medical Appliances and Equipment
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$324.32
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-12.97
-3.85% |
$337.99
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1,286,854 220.92% of 50 DAV
50 DAV is 582,500
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$393.92 -17.67%
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4/13/2010
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$363.46
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PP = $367.10
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MB = $385.46
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Most Recent Note - 5/7/2010 4:11:32 PM
G - Considerable loss on higher volume today led to more technical damage for the week after its gap down on 5/05/10 violated its 50 DMA line. Based on weak action it will be dropped from the Featured Stocks list tonight. >>> The latest Featured Stock Update with an annotated graph appeared on 5/3/2010. Click here.
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C
A N
S L
I M
|
LL
-
NYSE
Lumber Liquidators Hldgs
RETAIL - Home Improvement Stores
|
$28.02
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-0.07
-0.25% |
$28.92
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343,799 84.31% of 50 DAV
50 DAV is 407,800
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$33.41 -16.13%
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4/22/2010
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$29.87
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PP = $29.03
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MB = $30.48
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Most Recent Note - 5/7/2010 4:13:50 PM
G - Slumping near its 50 DMA line today with a 4th consecutive loss. It closed the week under its December 2009 highs, negating its latest breakout with a loss on above average volume. First featured in yellow at $29.87 in the 4/22/10 the mid-day report (read here). >>> The latest Featured Stock Update with an annotated graph appeared on 4/26/2010. Click here.
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C
A N
S L
I M
|
LOPE
-
NASDAQ
Grand Canyon Education
DIVERSIFIED SERVICES - Education and; Training Services
|
$24.42
|
-0.48
-1.93% |
$25.21
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260,807 70.89% of 50 DAV
50 DAV is 367,900
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$28.46 -14.20%
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4/13/2010
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$27.71
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PP = $27.33
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MB = $28.70
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Most Recent Note - 5/7/2010 4:15:53 PM
G - Closed below its 50 DMA line today with its 11th loss in 13 sessions. Many for-profit schools have encountered distributional pressure in the wake of recently proposed regulatory changes. >>> The latest Featured Stock Update with an annotated graph appeared on 4/14/2010. Click here.
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C
A N
S L
I M
|
PCLN
-
NASDAQ
Priceline.Com Inc
INTERNET - Internet Software and Services
|
$225.39
|
-7.71
-3.31% |
$236.55
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1,731,657 178.82% of 50 DAV
50 DAV is 968,400
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$273.93 -17.72%
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2/18/2010
|
$232.69
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PP = $231.59
|
MB = $243.17
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Most Recent Note - 5/7/2010 4:20:02 PM
G - Another damaging loss today on above average volume, closing near its session low and below its December '09 highs. Based on weak action it will be dropped from the Featured Stocks list tonight. Broader market action (M criteria) is normally expected to impact 3 out of 4 stocks, and widespread losses effectively ended the latest rally. >>> The latest Featured Stock Update with an annotated graph appeared on 4/28/2010. Click here.
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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 |
ROVI
-
NASDAQ
Rovi Corp
COMPUTER SOFTWARE andamp; SERVICES - Security Software andamp; Services
|
$35.10
|
-0.45
-1.27% |
$36.50
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3,800,476 303.21% of 50 DAV
50 DAV is 1,253,400
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$40.06 -12.38%
|
4/20/2010
|
$37.62
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PP = $38.60
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MB = $40.53
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Most Recent Note - 5/7/2010 4:23:10 PM
G - Small loss today with heavy volume after reporting its latest strong earnings news. Concerns were raised this week as it violated its 50 DMA line. Deterioration under its October 2009 high would raise more serious concerns. >>> The latest Featured Stock Update with an annotated graph appeared on 5/5/2010. Click here.
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C
A N
S L
I M
|
SIRO
-
NASDAQ
Sirona Dental Systems
HEALTH SERVICES - Medical Instruments andamp; Supplies
|
$37.17
|
-1.12
-2.93% |
$38.85
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1,008,114 177.77% of 50 DAV
50 DAV is 567,100
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$43.45 -14.45%
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2/16/2010
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$36.43
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PP = $36.15
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MB = $37.96
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Most Recent Note - 5/7/2010 4:24:40 PM
G - Loss today with above average volume, closing the week below its 50 DMA line. On 5/05/10 it endured heavy distributional pressure after reporting +231% earnings on +15% sales revenues for the quarter ended March 31, 2010 versus the year ago period. >>> The latest Featured Stock Update with an annotated graph appeared on 4/22/2010. Click here.
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C
A N
S L
I M
|
SUMR
-
NASDAQ
Summer Infant Inc
CONSUMER NON-DURABLES - Personal Products
|
$6.58
|
+0.06
0.84% |
$6.80
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22,934 49.11% of 50 DAV
50 DAV is 46,700
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$7.24 -9.19%
|
5/4/2010
|
$6.85
|
PP = $7.09
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MB = $7.44
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Most Recent Note - 5/7/2010 4:25:59 PM
Y - Consolidating near its 50 DMA line with volume totals cooling since featured in the 5/04/10 mid-day report (read here) - "Inching into new high ground this week on the right side of a 7-week flat base above its 50 DMA line and well above prior chart highs in the $5 area. Color code is yellow with pivot point noted based upon its 3/15/10 high plus ten cents. Quarterly earnings (C criteria) in the 2 latest quarterly comparisons showed great increases while sales revenues growth accelerated to +27% in the period ended Mach 31, 2010. It has a good annual earnings (A criteria) history, and a small supply (S criteria) of only 11.0 million shares in the public float. Technically, a gain and strong close above its pivot point with heavy volume would trigger a buy signal." >>> The latest Featured Stock Update with an annotated graph appeared on 5/4/2010. Click here.
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S L
I M
|
ULTA
-
NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
|
$21.24
|
-0.75
-3.41% |
$22.47
|
285,258 66.87% of 50 DAV
50 DAV is 426,600
|
$25.76 -17.55%
|
3/12/2010
|
$22.81
|
PP = $21.72
|
MB = $22.81
|
Most Recent Note - 5/7/2010 4:29:20 PM
G - Today was its 4th consecutive loss, slumping further below its 50 DMA line and closing below its January low, raising greater concerns. Only a prompt rebound above its short-term average would help its outlook. >>> The latest Featured Stock Update with an annotated graph appeared on 4/30/2010. Click here.
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A N
S L
I M
|
VIT
-
NYSE
Vanceinfo Tech Inc Ads
COMPUTER SOFTWARE and SERVICES - Business Software and Services
|
$22.78
|
+0.29
1.29% |
$23.10
|
935,065 124.88% of 50 DAV
50 DAV is 748,800
|
$26.48 -13.97%
|
4/9/2010
|
$23.79
|
PP = $23.95
|
MB = $25.15
|
Most Recent Note - 5/7/2010 4:30:29 PM
G - Gain today helped it make a stand near its 50 DMA line. Color code was changed to green based on recent distributional action. Broader market action (M criteria) is normally expected to impact 3 out of 4 stocks, and widespread losses effectively ended the latest rally. >>> The latest Featured Stock Update with an annotated graph appeared on 5/6/2010. Click here.
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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 |
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THESE ARE NOT BUY RECOMMENDATIONS!
Comments contained in the body of this report are technical
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