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AFTER MARKET UPDATE - WEDNESDAY, MAY 14TH, 2014
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DOW |
-101.47 |
16,613.97 |
-0.61% |
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Volume |
607,124,350 |
+3% |
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Volume |
1,637,207,550 |
-6% |
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NASDAQ |
-29.54 |
4,100.63 |
-0.72% |
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Advancers |
1,162 |
37% |
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Advancers |
686 |
25% |
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S&P 500 |
-8.92 |
1,888.53 |
-0.47% |
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Decliners |
1,892 |
60% |
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Decliners |
1,996 |
72% |
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Russell 2000 |
-18.02 |
1,103.14 |
-1.61% |
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52 Wk Highs |
75 |
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52 Wk Highs |
28 |
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S&P 600 |
-11.94 |
637.26 |
-1.84% |
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52 Wk Lows |
25 |
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52 Wk Lows |
72 |
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Major Averages Fell and Uncertainty Leaves Concerns
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
On Wednesday the major indices finished lower. The volume was reported slightly higher than the prior session total on the NYSE and lower on the Nasdaq exchange. Breadth was negative as decliners led advancers by a 3-2 margin on the NYSE and by almost a 3-1 margin on the Nasdaq exchange. Leadership contracted as there were 13 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 46 stocks on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE but new lows outnumbered new highs on the Nasdaq exchange. There were gains for 2 of the 6 high-ranked companies currently included on the Featured Stocks Page. It was recently noted that the Dow Jones Industrial Average and S&P 500 Index both tallied gains into new high territory. Technically that is favorable, however, uncertain market action overall has led the newspaper to still hold off from officially shifting its view that the market direction (M criteria) is back in a "confirmed uptrend". While awaiting a more definitive read on the market any new buying efforts should be very selective and only focused in stocks meeting all key criteria of the fact-based investment system. Keep in mind that any sustained and meaningful market advance requires leadership - a healthy crop of stocks hitting new 52-week highs.
On Wednesday the Dow lost 101 points to 16,613. The S&P 500 fell more than 8 points to 1,888. Equities retreated as investors took a breather after the Dow and S&P 500 closed at record highs in consecutive sessions. As a result, most sectors declined.
Consumer discretionary stocks paced the retreat. Amazon.com (AMZN -2.3%) and Walt Disney (DIS -1.4%) fell. Industrials were also under pressure. Deere (DE -2.04%) led the group lower after the company posted weak sales and reduced its full-year revenue outlook. Financials also weighed on the market as insurance companies declined. MetLife (MET -2.11%) and shares of Prudential (PRU -2.39%) slid. In technology, Cisco Systems (CSCO -0.22%) edged lower ahead of its earnings report after the close.
On the upside, the more defensive sectors of telecommunications and utilities advanced as AT&T (T +0.52%) and ONEOK (OKE +1.9%) both rose.
Treasury prices increased for a second day. The 10-year note rose 18/32 to yield 2.54%. The 30-year bond gained more than a full point to yield 3.37%.
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 Nasdaq Composite Index declined 29 points to 4,100. It found support when consolidating above its 200-day moving average (DMA) line, but needs a rebound above its 50 DMA line for its technical stance to improve. Meanwhile, the 50 DMA line has been downward sloping for weeks, a sign that it has been struggling for a long while now.
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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 and Retail Indexes Were Negative Influence
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Weakness in financial shares created a drag on the major averages as the Broker/Dealer Index ($XBD -1.96%) and the Bank Index ($BKX -1.56%) fell. The Networking Index ($NWX -1.31%) and the Semiconductor Index ($SOX -0.87%) lost ground while the Biotechnology Index ($BTK +0.49%) eked out a modest gain. The Retail Index ($RLX -1.05%) also was a negative influence on the major indices. Energy-relaterd shares were little chganged as the Integrated Oil Index ($XOI -0.05%) and Oil Services Index ($OSX -0.02%) both finished flat.
Charts courtesy www.stockcharts.com
PICTURED: The Gold & Silver Index ($XAU +0.63%) posted a small gain. It is consolidating below its 50-day and 200-day moving average (DMA) lines, just above prior lows in the $88 area.
| Oil Services |
$OSX |
286.44 |
-0.07 |
-0.02% |
+1.93% |
| Integrated Oil |
$XOI |
1,627.64 |
-0.89 |
-0.05% |
+8.28% |
| Semiconductor |
$SOX |
576.80 |
-5.08 |
-0.87% |
+7.81% |
| Networking |
$NWX |
324.85 |
-4.32 |
-1.31% |
+0.28% |
| Broker/Dealer |
$XBD |
151.80 |
-3.03 |
-1.96% |
-5.46% |
| Retail |
$RLX |
850.71 |
-9.06 |
-1.05% |
-9.48% |
| Gold & Silver |
$XAU |
90.96 |
+0.57 |
+0.63% |
+8.09% |
| Bank |
$BKX |
67.67 |
-1.07 |
-1.56% |
-2.30% |
| Biotech |
$BTK |
2,554.68 |
+12.45 |
+0.49% |
+9.62% |
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Submit Your Request for a Featured Stock Update
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Market conditions (the M criteria) are challenging at times. There are few stocks included on the Featured Stocks list and none of the companies need additional review in detail with annotated graphs. At times like these we have an opportunity to look back and review previously featured stocks which were dropped. This can serve as an educational review of the investment system's tactics. It is also a reminder that high-ranked leaders eventually fall out of favor. If you wish to request for a specific stock to receive more detailed coverage in this section please use the inquiry form to submit your request. Thank you! |
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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 |
AL
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NYSE
Air Lease Corp Cl A
DIVERSIFIED SERVICES - Rental and Leasing Services
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$39.14
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-0.52
-1.31% |
$39.72
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495,085
70.03% of 50 DAV
50 DAV is 707,000
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$40.36
-3.02%
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5/9/2014
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$38.27
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PP = $38.25
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MB = $40.16
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Most Recent Note - 5/13/2014 5:53:03 PM
Y - Small loss today with above average volume. Rallied near its "max buy" level with volume-driven gains. Prior highs near $38 define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Volume Heavy Following Gap Up Gain for New 52-Week High - 5/9/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
C
A N
S L
I M
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EQM
-
NYSE
E Q T Midstream Partners
ENERGY - Oil and Gas Pipelines
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$77.44
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+0.56
0.73% |
$77.44
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156,271
66.78% of 50 DAV
50 DAV is 234,000
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$78.67
-1.56%
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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 - 5/13/2014 5:44:26 PM
G - Inched higher today for a 5th consecutive small gain on lighter volume, still hovering near its all-time high. Completed a new Public Offering of 10.75 Million common units on 5/01/14. Fundamental concerns remain after 2 consecutive sub par quarters below the +25% minimum earnings guideline. Its 50 DMA line ($71.34) defines near-term support where a violation may trigger a technical sell signal.
>>> FEATURED STOCK ARTICLE : Stength Contiunues; Earnings Below +25% Minimum Guideline for a 2nd Quarter - 4/28/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
C
A N
S L
I M
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ICON
-
NASDAQ
Iconix Brand Group Inc
CONSUMER NON-DURABLES - Textile - Apparel Footwear
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$41.73
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-0.36
-0.86% |
$42.28
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1,546,771
263.06% of 50 DAV
50 DAV is 588,000
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$43.34
-3.71%
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4/30/2014
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$42.50
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PP = $42.57
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MB = $44.70
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Most Recent Note - 5/14/2014 5:57:33 PM
Y - Reported earnings +33% on +11% sales revenues for the Mar '14 quarter, continuing its streak of earning increases above the +25% minimum guideline (C criteria). Finished in the upper third of its intra-day range today after slumping near its 50 DMA line. A violation of that short-term average would raise concerns and trigger a technical sell signal. Confirming gains above the pivot point with above average volume could trigger a new (or add-on) technical buy signal.
>>> FEATURED STOCK ARTICLE : Stalled After Hitting a New 52-Week High - 5/7/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
C
A N
S L
I M
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PSIX
-
NASDAQ
Power Solutions Intl Inc
Machinery-Gen Industrial
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$71.22
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-2.94
-3.96% |
$75.01
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73,819
90.02% of 50 DAV
50 DAV is 82,000
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$88.96
-19.94%
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5/6/2014
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$86.46
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PP = $87.50
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MB = $91.88
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Most Recent Note - 5/14/2014 5:54:26 PM
Slumped further below its 50 DMA line with today's loss and closed -20% off its 52-week high. Reported earnings +14% on +27% sales revenues for the Mar '14 quarter, below the +25% minimum earnings guideline (C criteria). Based on fundamental and technical deterioration it will be dropped from the Featured Stocks list tonight.
>>> FEATURED STOCK ARTICLE : Hitting New 52-Week High and New Pivot Point Cited - 5/6/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
C
A N
S L
I M
|
TRN
-
NYSE
Trinity Industries Inc
TRANSPORTATION - Railroads
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$81.15
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+0.03
0.04% |
$81.96
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1,270,419
100.67% of 50 DAV
50 DAV is 1,262,000
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$82.04
-1.08%
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4/30/2014
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$75.57
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PP = $76.05
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MB = $79.85
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Most Recent Note - 5/13/2014 5:46:36 PM
G - Rallied further above its "max buy" level with today's 8th consecutive volume-driven gain. Prior highs in the $75-76 area define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Rose Beyond "Max Buy" Level With 7th Consecutive Gain - 5/12/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
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 |
WLK
-
NYSE
Westlake Chemical Corp
CHEMICALS - Specialty Chemicals
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$74.49
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-0.30
-0.40% |
$75.10
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577,980
84.38% of 50 DAV
50 DAV is 685,000
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$77.64
-4.06%
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4/29/2014
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$72.79
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PP = $69.31
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MB = $72.78
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Most Recent Note - 5/13/2014 5:47:53 PM
G - Quietly consolidating -3.7% off its 52-week high. Prior highs in the $69 area define near-term support to watch. Reported +28% earnings on +19% sales for the Mar '14 quarter.
>>> FEATURED STOCK ARTICLE : Extended From Base Following Volume Driven Gains - 5/8/2014
View all notes |
Set NEW NOTE alert |
CANSLIM.net Company Profile |
SEC
News |
Chart |
Request a new note
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.
This report is a service available
only to active Paid Premium Members.
You may opt-out of receiving report notifications
at any time. Questions or comments may be submitted
by writing to Premium Membership Services 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307
or 954-785-1121.
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