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AFTER MARKET UPDATE - MONDAY, JUNE 8TH, 2009
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Indices NYSE Nasdaq
DOW  +1.36 8,764.49 +0.02% Volume 1,076,496,420 -15% Volume 2,000,800,740 -15%
NASDAQ -7.02 1,842.40 -0.38% Advancers 1,111 36% Advancers 1,069 37%
S&P 500 -0.95 939.14 -0.10% Decliners 1,886 61% Decliners 1,679 58%
Russell 2000 -5.57 524.79 -1.05% 52 Wk Highs 10   52 Wk Highs 29  
S&P 600 -2.41 277.68 -0.86% 52 Wk Lows 2   52 Wk Lows 3  

Market Ends Mixed; Volume Light

The major averages opened lower but rallied back in the final hour and closed in the upper half of the session's range on Monday. Decliners trumped advancers by nearly a 2-to-1 ratio on the NYSE and the Nasdaq exchange. Volume was reported lower than the prior session on both major exchanges which indicated that large institutional investors were not aggressively dumping stocks. There were only 8 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 17 issues that appeared on the prior session.  The greater expansion recently occurring in the new highs list has offered encouraging news for growth oriented investors.

Before Monday's opening bell, McDonalds (MCD -1.92%) said same store sales rose +5.1% last month which topped the Street's view of +4.2%. However, the hamburger chain gapped down to its 200 day moving average before finding support and closing in the upper half of its intra day range. The stock got hit after the company said a stronger US dollar may hurt profits for the remainder of the year. The US dollar edged higher which weighed on stocks and a slew of commodities before pulling back in afternoon trade.

Around 1:00 PM EST, Apple Inc. (AAPL +0.57%) announced a handful of upgrades to its existing product line. The company said they are going to release a new version of their very popular iPhone. The new version, 3GS, will be less expensive and faster. The added "S," stands for speed. In addition, the company updated its MacBook Pro line with a built in battery that will last +40% longer than current batteries. The stock traded lower but closed near its intra day high as buyers emerged and scooped up shares.

It was encouraging to see the major averages defend support. Since breaking out last Monday (6/1/09), the market has retested its prior chart highs (formerly resistance) a few times. So far, each time the major averages manage to rally in the afternoon and close above support. Remember that the bulls remain in control until support is breached. Leadership remains scant as there are only a few high quality stocks that are "working" at this point. If this market is going to start a new leg higher then one would like to see a new batch of leadership emerge over the days and weeks ahead. Until then, proceed with caution and always protect yourself by selling a stock if it drops 7-8% below your purchase price.

PICTURED: The Dow Jones Industrial Average bounced off support (formerly resistance) on Monday.




Most Groups End Lower

The Bank ($BKX +1.29%), Retail ($RLX +0.57%) and Gold & Silver ($XAU +0.27%) indices were the three standout leaders on Monday. The rest of the groups were not so fortunate. The Semiconductor ($SOX -0.06%), Broker/Dealer ($XBD -0.16%), and Integrated Oil ($XOI -0.10%) indexes closed with modest losses. The afternoon rally helped the Broker/Dealer ($XBD -0.17%), Biotech ($BTK -0.67%), Networking ($NWX -0.69%) and Oil Services ($OSX -0.87%) groups close with modest losses. The Internet ($IIX -1.27%) and Healthcare ($HMO -3.78%) groups closed firmly in the red.

Charts courtesy www.stockcharts.com

 

PICTURED: The Bank ($BKX +1.29%) index continued consolidating its recent move.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  177.35 -1.55 -0.87% +46.10%
Healthcare $HMO  1,064.01 -41.75 -3.78% +10.81%
Integrated Oil $XOI  979.69 -0.99 -0.10% +0.00%
Semiconductor $SOX  270.59 -0.15 -0.06% +27.53%
Networking $NWX  191.84 -1.33 -0.69% +33.32%
Internet $IIX  191.49 -2.47 -1.27% +43.15%
Broker/Dealer $XBD  103.04 -0.18 -0.17% +33.01%
Retail $RLX  336.03 +1.91 +0.57% +20.33%
Gold & Silver $XAU  151.08 +0.41 +0.27% +21.99%
Bank $BKX  37.55 +0.48 +1.29% -15.28%


Coffee Stock Has Brewed Up Big Gains Since Featured

Green Mountain Coffee Roasters (GMCR $2.12 or +2.32% to $93.54) vaulted to a fresh all-time high on Monday after recently breaking out of a high tight flag. GMCR's most recent Featured Stock Update appearance was on Tuesday May 26, 2009 under the headline "Possible High Tight Flag Pattern For High Ranked Leader" (read here). The article identified that this issue may be forming a "high tight flag" pattern and identified the bullish traits that were occurring at the time. The story said, "This type of setup can occur when a stock doubles in 4 to 8 weeks, then moves sideways, correcting 10-20% in 3-5 weeks.  The buy point is the high before the sideways movement, and gains backed by sufficiently heavy volume are required to trigger a proper technical buy signal." The new technical buy signal was triggered on June 2, 2009 when this stock traded above $85.35 and enjoyed a fresh new high close. Since then, GMCR has rallied nearly +10% and is currently too extended to be considered buyable under proper guidelines. 


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
GMCR - NASDAQ
Green Mtn Coffee Roastrs
FOOD & BEVERAGE - Processed & Packaged Goods
$93.54 N/A N/A
N/A
1/1/2008
(Date Featured)
$40.70
(Price Featured)
PP = $42.99 G
MB = $45.14
Most Recent Note - 6/8/2009 4:10:42 PM
G - Hit another new all time high today on above average volume. Wedging higher in recent weeks after a 4/30/09 "breakaway gap" when it partnered with Wal-Mart Stores. Traded up more than +138.88% since featured at $39.09 in the January 2009 CANSLIM.net News (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 6/8/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
HMSY - NASDAQ
H M S Holdings Corp
COMPUTER SOFTWARE & SERVICES - Healthcare Information Service
$36.34 N/A N/A
N/A
2/20/2009
(Date Featured)
$34.08
(Price Featured)
PP = $36.55 Y
MB = $38.38
Most Recent Note - 6/8/2009 4:11:22 PM
Y - Quietly consolidating in a tight range near all-time highs since gapping up on 6/01/09. No overhead supply is left to hinder the progress for this Commercial Services - Healthcare firm. The group's Relative Strength rank has slipped from A in March to a D+ now, which is a concern. Investors' odds are usually better when chosing leaders within a leading industry group.
>>> The latest Featured Stock Update with an annotated graph appeared on 5/28/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
ILMN - NASDAQ
Illumina Inc
DRUGS - Biotechnology
$37.93 N/A N/A
N/A
5/3/2009
(Date Featured)
$38.14
(Price Featured)
PP = $39.05 Y
MB = $41.00
Most Recent Note - 6/8/2009 4:12:19 PM
Y - Pulled back for a second consecutive day on below average volume. Its Relative Strength rank has slumped to 65, however, raising concerns while consolidating in a very tight trading range for nearly 3 months. Recently found support near its 50 DMA line. Disciplined investors will watch for confirming gains above its pivot point to trigger a proper technical buy signal before taking any action. Recently featured in the May 2009 issue of CANSLIM.net News (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 5/29/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
LFT -

$30.00 N/A N/A
N/A
4/2/2009
(Date Featured)
$22.19
(Price Featured)
PP = $21.81 G
MB = $22.90
Most Recent Note - 6/8/2009 4:13:02 PM
G - Hit a new 52-week high today on above average volume, rising from a choppy (improper) base pattern. Its progress could be hindered by future share offerings. Its 5/28/09 gap up and considerable gain followed another strong quarterly financial report. Prompt repair of its recent 50 DMA line violation, and its gap up, were noted as signs of solid institutional (the I criteria) support and buying demand. This Chinese Computer Software firm recently filed a registration of approximately 16 million shares for resale, and it also revealed a planned acquisition of another Chinese service provider.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/4/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
NTES - NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
$37.49 N/A N/A
N/A
5/21/2009
(Date Featured)
$31.19
(Price Featured)
PP = $32.75 G
MB = $34.39
Most Recent Note - 6/8/2009 4:14:17 PM
G - Snapped a 7-day winning streak as this high ranked leader pulled back on below average volume. NTES is currently extended from its second-stage base. Its 5/28/09 gap up and considerable gain with +79% above average volume confirmed a technical buy signal as it rose above its pivot point. Indications of institutional (the I criteria) buying demand have been noted after earnings news on 5/20/09 a shakeout tested support near its 50 DMA line. First featured at $26.75 in the 3/31/09 CANSLIM.net Mid-Day Breakouts Report (read here). This high-ranked Chinese Internet - Content firm was also summarized in greater detail including an annotated graph in the April 2009 issue of CANSLIM.net News (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 6/5/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
NVEC - NASDAQ
N V E Corp
ELECTRONICS - Semiconductor - Specialized
$42.66 N/A N/A
N/A
3/13/2009
(Date Featured)
$33.85
(Price Featured)
PP = $39.01 G
MB = $40.96
Most Recent Note - 6/8/2009 4:14:54 PM
G - Closed lower on below average volume one day after hitting a new 52-week high. It recently found support at its 50 DMA line. Earnings per share rose +38% over the year ago period, yet sales were up just +14% and still rather minuscule.
>>> The latest Featured Stock Update with an annotated graph appeared on 5/27/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
SNDA -

$61.64 N/A N/A
N/A
5/31/2009
(Date Featured)
$57.62
(Price Featured)
PP = $53.95 G
MB = $56.65
Most Recent Note - 6/8/2009 4:16:34 PM
G - Closed lower for a second consecutive day. It is currently extended from a sound base to be considered buyable under the proper guidelines. Patient investors may watch for a pullback near its 50 DMA line, an important support level which has not been tested since breaking out in March. Just featured in the June 2009 issue of CANSLIM.net News. Be sure to review the "What to Look Out For" section and entire detailed summary - read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 6/3/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
SYNA - NASDAQ
Synaptics Inc
COMPUTER SOFTWARE & SERVICES - Information Technology Service
$36.79 N/A N/A
N/A
5/18/2009
(Date Featured)
$32.58
(Price Featured)
PP = $34.52 G
MB = $36.25
Most Recent Note - 6/8/2009 4:29:47 PM
G - Closed lower for a second consecutive day. Its 6/01/09 gap up gain was backed by +62% above average volume, and now there is no overhead supply to hinder its progress. Color code was changed to green after it distanced itself from its prior chart highs. First featured in yellow in the May 18, 2009 mid-day report (read here). The number of top-rated funds owning its shares rose from 123 in June '08 to 185 in March '09, which is good news concerning the I criteria. Strong earnings and sales revenues growth in the 4 latest quarterly comparisons satisfies the C criteria. Its annual earnings (the A criteria) history showed a dowturn in 2006, leaving concerns, but it followed that up with strong growth the next 2 years.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/1/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile
TNDM - NASDAQ
Tandem Diabetes Care Inc
TELECOMMUNICATIONS - Wireless Communications
$29.65 N/A N/A
N/A
3/2/2009
(Date Featured)
$18.89
(Price Featured)
PP = $29.85 Y
MB = $31.34
Most Recent Note - 6/8/2009 4:30:10 PM
Y - Considerable weakness led to deterioration under prior chart highs and an intra-day violation of its 50 DMA line, yet it has rallied up from earlier lows. A strong close could bode well, much like its impressive "positive reversal" on 5/14/09 was noted as a sign of prompt institutional support arriving. Gapped up on 4/30/09 for a new all-time high after reporting solid quarterly sales and earnings increases. Traded up as much as +72.42% since first featured at $18.89 in the 3/02/09 Mid-Day BreakOuts Report (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 6/2/2009. click here.
C A  S  I  |  News | Chart | SEC View all notes Alert me of new notes Company Profile

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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