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AFTER MARKET UPDATE - FRIDAY, JUNE 6TH, 2014
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DOW |
+87.98 |
16,924.09 |
+0.52% |
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Volume |
628,568,470 |
+2% |
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Volume |
1,519,217,960 |
-15% |
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NASDAQ |
+25.17 |
4,321.40 |
+0.59% |
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Advancers |
2,260 |
72% |
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Advancers |
1,971 |
70% |
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S&P 500 |
+8.97 |
1,949.43 |
+0.46% |
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Decliners |
787 |
25% |
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Decliners |
748 |
27% |
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Russell 2000 |
+11.27 |
1,165.21 |
+0.98% |
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52 Wk Highs |
370 |
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52 Wk Highs |
154 |
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S&P 600 |
+2.82 |
652.24 |
+0.43% |
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52 Wk Lows |
7 |
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52 Wk Lows |
24 |
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Major Averages Continue Rallying Into Record High Ground
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks closed out the first week of June trading on a positive note. Overall, the Dow increased +1.2% this week and the S&P 500 rose +1.3%, their third straight week of gains. The Nasdaq Composite Index was up for the fifth time in six weeks as it finished with a weekly advance of +1.9%. The volume was reported higher than the prior session total on the NYSE but lower on the Nasdaq exchange. Advancers led decliners by nearly a 3-1 margin on Nasdaq exchange and on the NYSE. Leadership expanded as there were 106 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, up from the total of 85 stocks on the prior session. New 52-week highs swelled easily outnumbered new 52-week lows on the NYSE and Nasdaq exchange. There were gains for all 10 high-ranked companies currently included on the Featured Stocks Page. The S&P 500 Index and Dow Jones Industrial Average continued their surges into new high territory. The expansion in leadership (new 52-week highs) is a reassuring signal that the market direction (M criteria) is in a "confirmed uptrend". Any new buying efforts should be selective and focused in stocks meeting all key criteria of the fact-based investment system.
PICTURED: The Dow Jones Industrial Average increased 88 points to another record high of 16,924.
The S&P 500 also closed at a new all-time high as it gained nearly 9 points to 1,949. The Nasdaq Composite Index was up 25 points to 4,321. The major averages advanced on Friday thanks to data showing U.S. employment returned to its pre-recession level. Employers added 217,000 jobs in May, which was above expectations and marked the fourth straight month that payrolls rose by at least 200,000. In addition, the unemployment rate held steady at almost a six-year low of 6.3%.
Seven of the 10 S&P 500 sectors finished higher. Industrials and energy paced the advance with gains from General Electric (GE +1.53%) and Schlumberger (SLB +2.0%). Utilities and telecom lagged behind as investors shied away from defensive issues and SCANA (SCG -0.84%) and AT&T (T -0.23%) fell.
Treasuries edged lower. The 10-year note fell 3/32 to yield 2.60%. The 30-year bond declined 2/32 to yield 3.44%.
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.
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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, Retail, and Energy-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +1.53%) posted a solid gain while the Bank Index ($BKX +0.80%) tallied a smaller gain on Friday. The Retail Index ($RLX +0.30%) managed a modest gain and the Semiconductor Index ($SOX +0.48%) rose while the Networking Index ($NWX +0.09%) and the Biotechnology Index ($BTK -0.06%) finished Friday's session little changed, Energy-related shares had a positive bias as the Integrated Oil Index ($XOI +0.64%) and the Oil Services Index ($OSX +0.91%) rose. The Gold & Silver Index ($XAU +0.05%) finished flat.
Charts courtesy www.stockcharts.com
PICTURED 1: The.Broker/Dealer Index ($XBD +1.53%) posted a solid gain on Friday and rallied above its 50-day moving average (DMA) line and above prior highs this week.
Charts courtesy www.stockcharts.com
PICTURED 2: The Bank Index ($BKX +0.80%) also rallied above its 50-day moving average (DMA) line and above prior highs this week.
| Oil Services |
$OSX |
296.46 |
+2.68 |
+0.91% |
+5.49% |
| Integrated Oil |
$XOI |
1,640.77 |
+10.48 |
+0.64% |
+9.16% |
| Semiconductor |
$SOX |
617.25 |
+2.95 |
+0.48% |
+15.37% |
| Networking |
$NWX |
341.70 |
+0.32 |
+0.09% |
+5.48% |
| Broker/Dealer |
$XBD |
157.61 |
+2.37 |
+1.53% |
-1.84% |
| Retail |
$RLX |
895.49 |
+6.50 |
+0.73% |
-6.50% |
| Gold & Silver |
$XAU |
86.70 |
+0.04 |
+0.05% |
+3.03% |
| Bank |
$BKX |
70.82 |
+0.56 |
+0.80% |
+0.42% |
| Biotech |
$BTK |
2,662.52 |
-1.68 |
-0.06% |
+14.25% |
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Halted Slide at 50-Day Moving Average After Distributional Pressure
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Amtrust Financial Svcs (AFSI +$0.34 or +0.81% to $42.35) recently found support at its 50-day moving average (DMA) line following damaging losses on higher volume. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. The high-ranked Insurance - Property/Casualty/Title firm stalled and encountered distributional pressure soon after rising from an advanced "3-weeks tight" base. It was highlighted in yellow in the 5/21/14 mid-day report (read here) and it last appeared with annotated graphs in the FSU report under the headline, "Finished Strong With Gain From Advanced Base Pattern". The pivot point cited was based on its 5/13/14 high plus 10 cents.
The major averages (M criteria) have produced confirming gains coupled with an expansion in leadership (stocks hitting new 52-week highs), a welcome reassurance that the market has established a meaningful rally. It reported earnings +68% on +89% sales revenues for the quarter ended Mar '14 quarter versus the year ago period, its 7th consecutive comparison above the +25% minimum earnings guideline (C criteria). It has a great annual earnings (A criteria) history and it has earned an impressive 96 Earnings Per Share rating, well above the 80+ minimum rating for buy candidates. Among concerns, we previously noted that the number of top-rated funds owning an interest has been reported lower. Now its current Up/Down Volume Ratio of 0.9 is an unbiased indication that its shares have been under slight distributional pressure over the past 50 days.
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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 |
AFSI
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NASDAQ
Amtrust Financial Svcs
INSURANCE - Property and; Casualty Insurance
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$42.34
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+0.33
0.79% |
$42.57
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370,184
54.68% of 50 DAV
50 DAV is 677,000
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$47.10
-10.11%
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5/21/2014
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$44.85
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PP = $44.85
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MB = $47.09
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Most Recent Note - 6/6/2014 6:06:33 PM
G - Consolidating above its 50 DMA line. Disciplined investors always limit losses by selling any stock that falls more than -7% from their purchase price. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Halted Slide at 50-Day Moving Average After Distributional Pressure - 6/6/2014
View all notes |
Set NEW NOTE alert |
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News |
Chart |
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C
A N
S L
I M
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AL
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NYSE
Air Lease Corp Cl A
DIVERSIFIED SERVICES - Rental and Leasing Services
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$42.44
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+0.06
0.14% |
$42.89
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1,049,856
127.10% of 50 DAV
50 DAV is 826,000
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$42.79
-0.83%
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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 - 6/5/2014 12:24:20 PM
G - Hitting a new 52-week high today after stubbornly holding its ground following volume-driven gains. Prior highs near $40 define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Finished Near Session Low and Below "Max Buy" Level After Gain on Volume - 5/28/2014
View all notes |
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News |
Chart |
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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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$89.76
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+3.10
3.58% |
$89.82
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181,066
74.82% of 50 DAV
50 DAV is 242,000
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$86.86
3.34%
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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 - 6/6/2014 6:18:36 PM
G - Hit yet another new 52-week high with today's 9th consecutive gain on below average volume. Fundamental concerns remain after 2 consecutive sub par quarters below the +25% minimum earnings guideline.
>>> FEATURED STOCK ARTICLE : New Highs Again With Light Volume Behind Streak of Gains - 6/4/2014
View all notes |
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CANSLIM.net Company Profile |
SEC
News |
Chart |
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C
A N
S L
I M
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GRFS
-
NASDAQ
Grifols Sa Ads
Medical-Ethical Drugs
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$45.37
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+2.68
6.28% |
$45.48
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1,520,994
243.36% of 50 DAV
50 DAV is 625,000
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$43.50
4.30%
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5/15/2014
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$41.14
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PP = $43.55
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MB = $45.73
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Most Recent Note - 6/6/2014 3:56:46 PM
Y - Triggering a technical buy signal today while hitting a new 52-week high with a 4th consecutive volume-driven gain. Paid a Special Dividend on 6/05/14. Prior highs near $43 area define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Finding Support Above 50-Day Moving Average - 6/3/2014
View all notes |
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News |
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C
A N
S L
I M
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ICON
-
NASDAQ
Iconix Brand Group Inc
CONSUMER NON-DURABLES - Textile - Apparel Footwear
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$44.14
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+0.60
1.38% |
$44.35
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428,567
80.11% of 50 DAV
50 DAV is 535,000
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$44.02
0.27%
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6/5/2014
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$43.54
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PP = $43.44
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MB = $45.61
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Most Recent Note - 6/5/2014 6:40:25 PM
Y - Hit a new all-time high today with a gain on average volume. New pivot point is cited based on its 5/01/14 high plus 10 cents. The gain on the prior session was backed by +50% above average volume as it rallied for a new high close and triggered a new (or add-on) technical buy signal. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Gain With Above Average Volume an Encouraging Sign - 6/5/2014
View all notes |
Set NEW NOTE alert |
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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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$94.33
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+0.97
1.04% |
$94.45
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1,744,974
64.30% of 50 DAV
50 DAV is 2,714,000
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$101.04
-6.64%
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5/27/2014
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$96.70
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PP = $101.14
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MB = $106.20
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Most Recent Note - 6/4/2014 6:12:02 PM
Y - Relative Strength rating has improved to 83, above the 80+ minimum guideline for buy candidates. Finding support at its 50 DMA line, but deterioration below that important short-term average would raise more concerns and trigger a technical sell signal. A breakout above the pivot point with at least +40% above average volume is needed to trigger a new technical buy signal.
>>> FEATURED STOCK ARTICLE : Earnings News May Prompt Volume and Volatility - 5/27/2014
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News |
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C
A N
S L
I M
|
PANW
-
NYSE
Palo Alto Networks
Computer Sftwr-Security
|
$77.98
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+0.98
1.27% |
$78.78
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1,624,196
80.29% of 50 DAV
50 DAV is 2,023,000
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$80.84
-3.54%
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5/29/2014
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$75.95
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PP = $72.50
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MB = $76.13
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Most Recent Note - 6/5/2014 1:05:00 PM
G - Color code is changed to green after rallying above its "max buy" level with today's gain. Little overhead supply remains up through the $80 level. Prior highs near $72 define important support above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Finish Near Session Low Following Gap Up From Double Bottom Base - 5/29/2014
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C
A N
S L
I M
|
SN
-
NYSE
Sanchez Energy Corp
ENERGY - Independent Oil and Gas
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$34.82
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+0.42
1.22% |
$35.00
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1,228,991
100.57% of 50 DAV
50 DAV is 1,222,000
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$35.50
-1.92%
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5/22/2014
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$33.00
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PP = $31.59
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MB = $33.17
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Most Recent Note - 6/3/2014 12:50:58 PM
G - Pulling back further today following a "negative reversal" on the prior session after touching a new 52-week high. Prior highs near $31-32 define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Finish Near Low a Sign of Distributional Pressure Following Gap Up and New High - 5/22/2014
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C
A N
S L
I M
|
TRN
-
NYSE
Trinity Industries Inc
TRANSPORTATION - Railroads
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$82.84
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+2.61
3.25% |
$83.86
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2,416,808
160.91% of 50 DAV
50 DAV is 1,502,000
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$87.89
-5.74%
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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 - 6/6/2014 1:05:42 PM
G - Halted its slide after 5 consecutive losses and gapped up today. Prior highs in the $75-76 area coincide with its 50 DMA line ($76.48) defining important support to watch.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After +15% Rally in One Month - 6/2/2014
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C
A N
S L
I M
|
WLK
-
NYSE
Westlake Chemical Corp
CHEMICALS - Specialty Chemicals
|
$82.33
|
+1.09
1.34% |
$82.35
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569,355
74.52% of 50 DAV
50 DAV is 764,000
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$81.92
0.50%
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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 - 6/4/2014 6:10:34 PM
G - Hit a new 52-week high with today's volume-driven gain. Recent lows near $73 define important near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Extended From Prior Base After 5 Weekly Gains - 5/30/2014
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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 |
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Max Buy |
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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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