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AFTER MARKET UPDATE - FRIDAY, JULY 8TH, 2011
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Indices NYSE Nasdaq
DOW  -62.51 12,656.98 -0.49% Volume 767,154,820 -10% Volume 1,566,176,280 -15%
NASDAQ -12.85 2,859.81 -0.45% Advancers 886 29% Advancers 851 32%
S&P 500 -9.39 1,343.83 -0.69% Decliners 2,092 68% Decliners 1,728 64%
Russell 2000 -5.53 852.58 -0.64% 52 Wk Highs 57   52 Wk Highs 77  
S&P 600 -3.10 457.91 -0.67% 52 Wk Lows 15   52 Wk Lows 27  

Major Indices Fell On Lighter Volume Totals

For the week, the Dow Jones Industrial Average was up +0.6%, the S&P 500 Index gained +0.3%, and the Nasdaq Composite Index rose +1.5%. Friday's losses came with lighter volume totals than on Thursday's session on the NYSE and on the Nasdaq exchange, a reassuring sign indicating that institutional selling pressure was not weighing on the market following recent gains. Declining issues beat advancers 7-3 on the NYSE and by 2-1 on the Nasdaq exchange. New 52-week highs outnumbered new 52-week lows on both the Nasdaq exchange and the NYSE. There were only 27 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 160 on the prior session. There were only 5 gainers out of the 16 high-ranked leaders currently included on the Featured Stocks Page.

 

The market started the session heading lower following a dismal report on the job market that quieted enthusiasm for a quick economic rebound. The Labor Department said employers added only 18,000 workers in June, the fewest in nine months. The unemployment rate unexpectedly climbed for a third straight month to 9.2 percent. Another economic report was largely ignored. Inventories at U.S. wholesalers rose more than forecast in May, led by the biggest jump in auto stockpiles in five years.

Google Inc (GOOG -2.62%) fell after on a brokerage downgrade. Bank of America Corp (BAC -2.01%) and many influential financial shares slumped. Energy-related shares faced modest losses while crude oil prices tumbled more than $2 a barrel. Amylin Pharmaceuticals Inc (AMLN +3.72%) was a standout after the drugmaker said its experimental diabetes treatment will be resubmitted for regulatory approval earlier than expected.

The strength in stocks and expansion in the new 52-week highs list have been noted as encouraging signs for growth-oriented investors who might cautiously look to accumulate ideal buy candidates.

Our July 2011 issue of CANSLIM.net News is due to be released soon with a comprehensive summary of current market conditions that further clarifies matters concerning the M criteria!  The Q2 2011 CANSLIM.net Webcast is available "ON DEMAND" now  to UPGRADED MEMBERS ONLY - (CLICK HERE).   

PICTURED: The S&P 500 Index rallied from its 200-day moving average without great volume conviction to nearly challenge its 52-week high.


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.


Financial Groups Drag Major Averages Lower

Financial shares created a drag on the major averages on Friday as the Broker/Dealer Index ($XBD -1.81%) and Bank Index ($BKX -1.59%) were clearly laggards. The tech sector had a mostly negative bias as the Networking Index ($NWX -1.65%) and Semiconductor Index ($SOX -1.57%) slumped worse than the Internet Index ($IIX -0.53%), meanwhile the Biotechnology Index ($BTK +0.19%) eked out a small gain. The Gold & Silver Index ($XAU -0.15%) finished virtually unchanged while energy-related shares were modestly lower and the Integrated Oil Index ($XOI -0.78%) and Oil Services Index ($OSX -0.59%) lost ground.  Small losses for the Retail Index ($RLX -0.46%) and Healthcare Index ($HMO -0.65%) rounded out a mostly negative session.

Charts courtesy www.stockcharts.com

PICTURED: The Bank Index ($BKX -1.59%) has been encountering resistance at its 50-day moving average line.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  272.68 -1.61 -0.59% +11.24%
Healthcare $HMO  2,490.71 -16.22 -0.65% +47.21%
Integrated Oil $XOI  1,325.57 -10.39 -0.78% +9.27%
Semiconductor $SOX  413.80 -6.60 -1.57% +0.48%
Networking $NWX  307.17 -5.15 -1.65% +9.49%
Internet $IIX  321.63 -1.70 -0.53% +4.52%
Broker/Dealer $XBD  106.84 -1.97 -1.81% -12.08%
Retail $RLX  554.72 -2.54 -0.46% +9.12%
Gold & Silver $XAU  207.81 -0.32 -0.15% -8.28%
Bank $BKX  48.34 -0.78 -1.59% -7.41%
Biotech $BTK  1,475.24 +2.97 +0.20% +13.69%


Wedged To New Highs Without a Sound Base or Great Volume

Chipotle Mexican Grill, Inc. (CMG -$3.19 or -0.97% to $325.30) pulled back today from its all-time high after 9 gains on near average volume in the span of 10 sessions. It has been repeatedly noted as extended from prior highs that define initial chart support to watch. It was last shown in the FSU section on 6/15/11 with an annotated daily graph under the headline, "Quiet Consolidation; Latest Earnings Increase Under +25%", when consolidating near its 50-day moving average (DMA) line. It did not form a sound base pattern before then wedging to new high territory without especially great volume conviction. An upward trendline connecting its prior lows defines a near-term technical support level to watch illustrated on the weekly graph below. It is perched just -1.4% off its 52-week and all-time high with no resistance due to overhead supply.

CMG currently has an A rating for Accumulation/Distribution. Ownership by top-rated funds rose from 530 in Mar '10 to 689 in Mar '11, a nice reassurance concerning the I criteria of the investment system. Sales revenues increases have been strong, however the quarter ended March 31, 2011 showed earnings +23%. That was the first increase under the +25% guideline for the C criteria in years, raising some concerns. It has a good annual (A criteria) earnings history.


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
CACC - NASDAQ
Credit Acceptance Corp
FINANCIAL SERVICES - Credit Services  
$84.93 -0.35
-0.41%

$85.25

38,731
90.92% of 50 DAV
50 DAV is 42,600
$86.87
-2.23%
6/2/2011 $76.10 PP = $82.39
MB = $86.51
Most Recent Note - 7/5/2011 12:13:29 PM
Y - Pulling back below its "max buy" level with today's loss on higher volume, and its color code is changed to yellow. Approximately 40% of successful breakouts pull back and test support at old highs after a breakout before continuing higher. CACC triggered a technical buy signal with its rally above its pivot point backed by +52% above average volume on 6/30/11. Prior highs in the $80-82 area define initial support to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/27/2011. Click here.

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CMG - NYSE
Chipotle Mexican Grill
LEISURE - Restaurants  
$325.30 -3.19
-0.97%

$328.17

1,025,035
108.29% of 50 DAV
50 DAV is 946,600
$329.80
-1.36%
4/1/2011 $274.00 PP = $275.10
MB = $288.86
Most Recent Note - 7/8/2011 5:18:55 PM
G - Extended from prior highs and an upward trendline that define chart support to watch. See the latest FSU analysis for more details and a new annotated weekly graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/8/2011. Click here.

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EW - NYSE
Edwards Lifesciences Cp
HEALTH SERVICES - Medical Appliances and Equipment  
$90.91 -0.18
-0.20%

$90.93

669,505
88.23% of 50 DAV
50 DAV is 758,800
$91.82
-0.99%
7/6/2011 $89.19 PP = $90.48
MB = $95.00
Most Recent Note - 7/7/2011 7:30:19 PM
Y - The Medical - Products firm is challenging its 52-week and all-time highs with 8 consecutive small gains. Color code was changed to yellow, and a volume driven gain and strong close above its pivot point could trigger a technical buy signal. See the latest FSU analysis for more details and a new annotated weekly graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/7/2011. Click here.

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EZPW - NASDAQ
Ezcorp Inc Cl A
SPECIALTY RETAIL - Specialty Retail, Other  
$37.62 -0.45
-1.18%

$37.90

402,135
105.52% of 50 DAV
50 DAV is 381,100
$38.66
-2.69%
6/13/2011 $31.18 PP = $33.41
MB = $35.08
Most Recent Note - 7/7/2011 4:39:01 PM
G - Today's 10th consecutive volume-driven gain has it very extended from prior highs in the $33 area that define support to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/5/2011. Click here.

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FCFS - NASDAQ
First Cash Financial Svs
SPECIALTY RETAIL - Specialty Retail, Other  
$43.67 -0.44
-1.00%

$44.09

140,045
74.93% of 50 DAV
50 DAV is 186,900
$44.84
-2.61%
5/31/2011 $42.00 PP = $40.23
MB = $42.24
Most Recent Note - 7/5/2011 2:27:36 PM
Y - Up today for a 3rd consecutive gain, hitting a new all-time high and getting extended from its prior base. Color code is changed to green. Prior highs in the $40-42 area define initial support areas to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/22/2011. Click here.

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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
FOSL - NASDAQ
Fossil Inc
CONSUMER DURABLES - Recreational Goods, Other  
$124.65 +1.49
1.21%

$124.97

1,036,860
139.03% of 50 DAV
50 DAV is 745,800
$126.36
-1.35%
2/1/2011 $73.30 PP = $74.44
MB = $78.16
Most Recent Note - 7/7/2011 4:30:38 PM
G - Reversed into the red after hitting yet another new all-time high today. It is extended from prior highs in the $107 area that now define initial support to watch near its 50 DMA line.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/28/2011. Click here.

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HS - NYSE
Healthspring Inc
HEALTH SERVICES - Health Care Plans  
$48.20 +0.11
0.23%

$48.33

664,659
73.81% of 50 DAV
50 DAV is 900,500
$48.95
-1.53%
6/16/2011 $42.44 PP = $45.21
MB = $47.47
Most Recent Note - 7/5/2011 2:09:56 PM
G - Up again today with volume running at an above average pace while rising above its "max buy" level. Color code is changed to green after getting extended from its latest base. Prior resistance near $45 defines support after its recent streak of gains with above average volume to new all-time highs.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/16/2011. Click here.

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INFA - NASDAQ
Informatica Corp
COMPUTER SOFTWARE and SERVICES - Business Software and Services  
$60.91 -0.15
-0.25%

$60.92

1,007,022
81.88% of 50 DAV
50 DAV is 1,229,900
$62.42
-2.42%
7/1/2011 $59.36 PP = $60.08
MB = $63.08
Most Recent Note - 7/5/2011 2:29:13 PM
Y - Quiet gain today has it inching above its new pivot point recently cited based on its prior high plus 10 cents after a 5-week flat base during which it found support near its 50 DMA line. This high-ranked Computer Software - Database firm faces no overhead supply. A volume-driven breakout may trigger a new (or add-on) technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/17/2011. Click here.

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LULU - NASDAQ
Lululemon Athletica
MANUFACTURING - Textile Manufacturing  
$120.25 -1.45
-1.19%

$120.98

2,462,102
120.71% of 50 DAV
50 DAV is 2,039,600
$123.84
-2.90%
6/21/2011 $102.95 PP = $101.14
MB = $106.20
Most Recent Note - 7/8/2011 12:09:08 PM
G - Pulling back today after steadily inching higher into new all-time high territory. Its rally of better than +20% in less than 2-3 weeks after its recent technical breakout argues for investors to follow the investment system of holding stocks with such powerful early gains for 8 weeks minimum.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/21/2011. Click here.

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MWIV - NASDAQ
M W I Veterinary Supply
HEALTH SERVICES - Medical Instruments and; Supplies  
$84.18 +0.41
0.49%

$84.88

47,278
63.46% of 50 DAV
50 DAV is 74,500
$86.99
-3.23%
11/4/2010 $61.79 PP = $59.60
MB = $62.58
Most Recent Note - 7/1/2011 4:09:19 PM
G - Gains in recent weeks lacked volume conviction, yet today it quietly climbed above its 50 DMA line which has been acting as a stubborn resistance level.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/30/2011. Click here.

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C A N S L I M   Daily Graphs Online Stock Checkup IBD Graphs
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
OPNT - NASDAQ
Opnet Technologies
INTERNET - Internet Software and Services  
$40.63 -0.51
-1.24%

$41.15

70,942
57.54% of 50 DAV
50 DAV is 123,300
$42.51
-4.42%
6/28/2011 $40.87 PP = $42.61
MB = $44.74
Most Recent Note - 7/6/2011 6:49:25 PM
Y - Consolidating above its 50 DMA line. Color code was changed to yellow and a new pivot point cited based on its 52-week high plus ten cents. Disciplined investors watch for a confirming technical buy signal before taking action. Recent lows near $36 define important near-term chart support.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/1/2011. Click here.

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OTEX - NASDAQ
Open Text Corp
INTERNET - Internet Software and Services  
$67.54 -0.08
-0.12%

$67.64

225,160
73.22% of 50 DAV
50 DAV is 307,500
$68.67
-1.65%
6/1/2011 $65.86 PP = $67.18
MB = $70.54
Most Recent Note - 7/7/2011 11:28:14 AM
Y - Hit a new 52-week high and rallied above its pivot point after a small gap up today, on track for its 8th consecutive gain without great volume conviction. Volume-driven gains above the previously cited pivot point may trigger a technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/24/2011. Click here.

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QSII - NASDAQ
Quality Systems Inc
COMPUTER SOFTWARE and SERVICES - Healthcare Information Service  
$91.48 +0.32
0.35%

$92.19

413,293
180.32% of 50 DAV
50 DAV is 229,200
$92.38
-0.97%
7/6/2011 $91.26 PP = $91.67
MB = $96.25
Most Recent Note - 7/7/2011 7:33:38 PM
Y - Perched near its all-time high today and it finished at a new high close. Formed a lopsided 9-week cup shaped base without a handle. Color code was changed to yellow in the 7/06/11 mid-day report. A volume-driven gain above its pivot point is still needed to trigger a new technical buy signal. This long-ago featured Computer Software - Medical firm's earnings and sales increases in the recent quarterly comparisons showed acceleration. It has also maintained a steady and strong annual earnings history (A criteria).
QSII
>>> The latest Featured Stock Update with an annotated graph appeared on 7/6/2011. Click here.

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SWI - NYSE
Solarwinds Inc
COMPUTER SOFTWARE and SERVICES - Application Software  
$25.68 -0.62
-2.36%

$26.30

691,657
80.90% of 50 DAV
50 DAV is 855,000
$26.68
-3.75%
6/7/2011 $24.22 PP = $25.05
MB = $26.30
Most Recent Note - 7/7/2011 4:20:18 PM
G - Gapped up today and rallied to a best ever close with +47% above average volume behind its gain. Color code is changed to green. Prior resistance in the $24-25 area defines support.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/29/2011. Click here.

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ULTA - NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other  
$68.70 +2.01
3.01%

$68.74

1,059,542
124.48% of 50 DAV
50 DAV is 851,200
$68.80
-0.15%
1/6/2011 $36.12 PP = $37.34
MB = $39.21
Most Recent Note - 7/7/2011 4:32:11 PM
G - Reversed into the red after touching another new all-time high today. Extended from any sound base pattern. It may produce more climactic gains, but disciplined investors avoid chasing extended stocks.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/20/2011. Click here.

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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
ZAGG - NASDAQ
Zagg Inc
SPECIALTY RETAIL - Specialty Retail, Other  
$12.71 -0.12
-0.94%

$12.94

3,209,556
164.00% of 50 DAV
50 DAV is 1,957,000
$15.85
-19.81%
6/1/2011 $10.92 PP = $10.59
MB = $11.12
Most Recent Note - 7/7/2011 4:35:12 PM
G - Finished today's choppy session with a small gain on heavy volume, up from intra-day lows near its 50 DMA line. Distributional pressure has been noted repeatedly, and it is extended from a sound base.
>>> The latest Featured Stock Update with an annotated graph appeared on 6/23/2011. Click here.

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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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Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

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