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AFTER MARKET UPDATE - WEDNESDAY, JULY 15TH, 2009
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DOW |
+256.72 |
8,616.21 |
+3.07% |
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Volume |
1,374,467,320 |
+40% |
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Volume |
2,588,992,620 |
+35% |
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NASDAQ |
+63.17 |
1,862.90 |
+3.51% |
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Advancers |
2,777 |
89% |
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Advancers |
2,272 |
80% |
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S&P 500 |
+26.84 |
932.68 |
+2.96% |
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Decliners |
293 |
9% |
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Decliners |
481 |
17% |
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Russell 2000 |
+19.12 |
515.64 |
+3.85% |
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52 Wk Highs |
44 |
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52 Wk Highs |
38 |
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S&P 600 |
+9.73 |
274.85 |
+3.67% |
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52 Wk Lows |
3 |
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52 Wk Lows |
2 |
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Major Averages Post Big Gains On Higher Volume As Leadership Expands
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The market averages posted big gains on Wednesday, spending the entire session ascending steadily with an expansion in volume revealing greater buying conviction from the institutional crowd. More recent levels have been unimpressive, which often signals a lack of conviction. A better-than-expected second quarter reported by semiconductor giant Intel (INTC +7.25%) helped the tech sector surge and allowed the major averages to post some of their best gains in the last few months. Further emphasizing the solid accumulation day, advancers dramatically led decliners by more than a 9-to-1 on the NYSE, meanwhile on the Nasdaq exchange advancers led by nearly a 5-to-1 ratio. There were 20 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, up nicely from the 12 issues that appeared on the prior session.
Widespread gains helped all three major indices close above their 50-day moving average (DMA) lines as well as their 200 DMA lines. American Express (AXP +11.28%) was a primary leader in the Dow after the company reported encouraging news that credit card delinquencies declined. A regulatory filing said its accounts at least 30 days past due shrunk to 4.4% of total loans during the month ended June 30, after falling to 4.7% in May and 4.9% in April.
Renewed strength among financial stocks has helped revive the broader market rally. Financials are currently up more than 10% week-to-date, and we take a closer look at the financial indices in this report's Industry Group Watch section. Among the positive catalysts earlier this week, a prominent analyst made encouraging predictions about the short-term prospects of banks. The FOMC's release of the minutes from its June meeting may have inspired some of the stronger trading as the Fed raised its 2009-2010 forecast for the economy. Earnings announcements are expected from banking giant JPMorgan Chase (JPM +4.50%) on Thursday morning before the opening bell. Bank of America (BAC +3.95%), Citigroup (C +8.56%), and General Electric (GE +5.15%) are due to report on Friday morning.
The Consumer Price Index, a widely-watched inflationary gauge, showed a sharper-than-expected +0.7% increase for June, the sharpest increase since July 2008. A -0.4% drop in June industrial production meant that production has fallen in 17 out of 18 months, however, the decline was less than expected and the softest downturn since a positive reading in October 2008.
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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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Strength In Financial Group Spearheads More Market Gains
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Widespread gains on Wednesday lifted most of the indices cited daily in this section. The Networking Index ($NWX +5.30%), Semiconductor Index ($SOX +4.43%), and the Internet Index ($IIX +4.10%) outpaced the Biotechnology Index ($BTK +2.27%) as the tech sector's upward bias helped the Nasdaq Composite lead its peers. Financial shares also were a positive influence as the Bank Index ($BKX +4.26%) outpaced the Broker/Dealer Index ($XBD +2.76%), and the Retail Index ($RLX +2.49%) also tacked on a solid gain. Commodity-linked areas produced big gains too, with the Gold & Silver Index ($XAU +4.63%), Integrated Oil Index ($XOI +3.44%), and Oil Services Index ($OSX +3.94%) posting solid gains. The Healthcare Index ($HMO +0.81%) was a relative laggard as it put up a modest gain.
Charts courtesy www.stockcharts.com
PICTURED 1: The Broker/Dealer Index ($XBD +2.76%) rallied above its 50-day moving average (DMA) line toward prior chart resistance.
Charts courtesy www.stockcharts.com
PICTURED 2: The Bank Index ($BKX +4.26%) outpaced the Broker/Dealer group and rose above a multi-month downward trendline as well as its 50 DMA line, but remains under its 200 DMA line.
| Oil Services |
$OSX |
161.07 |
+6.10 |
+3.94% |
+32.69% |
| Healthcare |
$HMO |
1,067.70 |
+8.59 |
+0.81% |
+11.20% |
| Integrated Oil |
$XOI |
910.85 |
+30.29 |
+3.44% |
-7.03% |
| Semiconductor |
$SOX |
281.56 |
+11.95 |
+4.43% |
+32.70% |
| Networking |
$NWX |
186.68 |
+9.40 |
+5.30% |
+29.74% |
| Internet |
$IIX |
191.84 |
+7.55 |
+4.10% |
+43.41% |
| Broker/Dealer |
$XBD |
99.67 |
+2.68 |
+2.76% |
+28.66% |
| Retail |
$RLX |
330.90 |
+8.03 |
+2.49% |
+18.49% |
| Gold & Silver |
$XAU |
141.12 |
+6.24 |
+4.63% |
+13.94% |
| Bank |
$BKX |
37.96 |
+1.55 |
+4.26% |
-14.35% |
| Biotech |
$BTK |
664.71 |
+14.76 |
+2.27% |
+2.71% |
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Recent Lows Are Important Support To Watch During Consolidation
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Shanda Interactive Ent Ltd (SNDA +$1.79 or +3.44% to $53.84) posted a gain on average volume today but it remains under its 50-day moving average (DMA) line. Concerns increase the longer it trades below that short-term average, meanwhile, convincing gains back above its 50 DMA line would be a nice reassurance that it was attracting institutional support. Subsequent deterioration below its recent chart low near $50 could raise more serious concerns and trigger a more worrisome technical sell signal, especially if volume swells behind more damaging losses. Losses on heavy volume in recent weeks were noted as they signaled distributional pressure leading to violations of it upward trendline and 50 DMA line. Its Accumulation/Distribution rank also reflects the recent action, having fallen from a respectable B on June 3rd, to a rather dismal D- today!
A closer look at its chart identified a worrisome "island reversal" pattern in the annotated graph included with and earlier appearance in this FSU section on June 25th, and any members who may not have noted that ominous pattern before should take time now to review that earlier report (read here). After featured in the June 2009 issue of CANSLIM.net News (read here), SNDA quickly got too extended from a proper buy point. Its outlook now grows increasingly questionable the longer and deeper it slumps into its prior base below it previous chart highs in the $53 area. More time is needed for it to form a new sound base such as "double bottom" in the coming weeks.
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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 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 |
CPLA
- NASDAQ
Capella Education Co
DIVERSIFIED SERVICES - Education and Training Services
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$59.29
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N/A
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N/A
N/A
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7/9/2009
(Date
Featured) |
$59.69
(Price
Featured) |
PP = $62.06 |
G |
| MB = $65.16 |
Most Recent Note - 7/15/2009 7:32:15 PM
G - Small gain today on very light volume. A positive reversal on 7/13/09 was a sign of impressive institutional support after initially gapping down following an analyst downgrade. It had negatively reversed for a loss on the prior 2 sessions after it was featured in yellow in the 7/09/09 Mid-Day BreakOuts Report (read here). Color code was changed to green based on weak action. The group has shown some leadership, yet currently has a D- for a Relative Strength Rating. CPLA is a high-ranked leader in the Commercial Services-Schools Group. Its small supply of only 13.9 million shares in the float could contribute to greater price volatility in the event of institutional accumulation or distribution. The number of top-rated funds owning an interest rose from 91 in Sept '08, to 129 as of March '09, which is reassuring with respect to the I criteria. It has a very good earnings history that satisfies the C & A criteria, while recent quarters showed steady sales revenues increases in the +17-18% range.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/9/2009. click here.
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News |
Chart |
SEC
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Profile
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GMCR
- NASDAQ
Green Mtn Coffee Roastrs
FOOD & BEVERAGE - Processed & Packaged Goods
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$60.59
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N/A
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N/A
N/A
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1/1/2008
(Date
Featured) |
$27.13
(Price
Featured) |
PP = $28.66 |
G |
| MB = $30.09 |
Most Recent Note - 7/15/2009 7:43:45 PM
G - Another gain today with average volume boosted it further from its 50 DMA line after an intra-day breach on Monday's session. Its short-term average is a very important support level to watch above its recent chart low ($51.65), where violations would raise concerns and trigger technical sell signals. On 6/09/09 it reached a new all-time high with a gain on light volume as a 3:2 stock split took effect. GMCR traded up more than +144% since appearing with an annotated graph under the headline "It May Soon Be Time To Go Green" when featured in the January 2009 CANSLIM.net News (read here).
>>> The latest Featured Stock Update with an annotated graph appeared on 7/6/2009. click here.
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C
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I |
News |
Chart |
SEC
View all notes Alert
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Company
Profile
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HMSY
- NASDAQ
H M S Holdings Corp
COMPUTER SOFTWARE & SERVICES - Healthcare Information Service
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$41.38
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N/A
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N/A
N/A
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2/20/2009
(Date
Featured) |
$34.08
(Price
Featured) |
PP = $38.38 |
G |
| MB = $40.30 |
Most Recent Note - 7/15/2009 7:45:12 PM
G - Today was its 4th consecutive gain on light volume, closing at its second best high ever. Recently tested prior highs in the $38 area which are a very important initial support level above its 50 DMA line. Last week it sank under an upward trendline connecting its April-June lows. A gap up gain on 6/16/09 with heavy volume triggered a technical buy signal. No overhead supply is left to hinder the progress for this Commercial Services - Healthcare firm.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/13/2009. click here.
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News |
Chart |
SEC
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Company
Profile
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NTES
- NASDAQ
Netease Inc Adr
INTERNET - Internet Information Providers
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$36.16
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N/A
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N/A
N/A
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5/21/2009
(Date
Featured) |
$31.19
(Price
Featured) |
PP = $32.75 |
G |
| MB = $34.39 |
Most Recent Note - 7/15/2009 7:52:55 PM
G - Began with a small gap up and rose for a 5th consecutive session, with today's gain on higher volume. It found support and promptly repaired its 7/08/09 violation of its 50 DMA line which had triggered a technical sell signal. Prior chart highs near $32 are an important technical support level to watch now. 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 7/14/2009. click here.
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News |
Chart |
SEC
View all notes Alert
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Company
Profile
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NVEC
- NASDAQ
N V E Corp
ELECTRONICS - Semiconductor - Specialized
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$47.00
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N/A
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N/A
N/A
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3/13/2009
(Date
Featured) |
$33.85
(Price
Featured) |
PP = $45.50 |
G |
| MB = $47.78 |
Most Recent Note - 7/15/2009 7:53:49 PM
G - Gapped up today for a decent gain backed by light volume. Recently found support near its 50 DMA line and prior highs - important support to watch, where violations would raise concerns and trigger technical sell signals. Color code was changed to green based deterioration after its 6/19/09 breakout from an "ascending base" type pattern was completely negated. Sales increases in recent comparisons have been under the +25% guideline and still rather minuscule, leaving concerns, especially in the event of any hiccups. This is a reason to be especially disciplined about proper entries and exits.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/8/2009. click here.
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C
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I |
News |
Chart |
SEC
View all notes Alert
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Company
Profile
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SNDA
-
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$53.84
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N/A
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N/A
N/A
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5/31/2009
(Date
Featured) |
$57.62
(Price
Featured) |
PP = $53.95 |
G |
| MB = $56.65 |
Most Recent Note - 7/15/2009 7:55:10 PM
G - Gain on near average volume today leaves it still trading under its 50 DMA line, and concerns increase the longer it trades below that short-term average. Meanwhile, subsequent deterioration below its recent chart low near $50 could raise more serious concerns and trigger a worrisome technical sell signal. Detailed analysis was included when recently 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 7/15/2009. click here.
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C
A
S
I |
News |
Chart |
SEC
View all notes Alert
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Company
Profile
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SYNA
- NASDAQ
Synaptics Inc
COMPUTER SOFTWARE & SERVICES - Information Technology Service
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$32.75
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N/A
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N/A
N/A
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5/18/2009
(Date
Featured) |
$32.58
(Price
Featured) |
PP = $34.52 |
G |
| MB = $36.25 |
Most Recent Note - 7/15/2009 7:56:43 PM
G - Held its ground today after a considerable loss on 7/14/09 with heavy volume indicated heavy distributional pressure, raising more concerns. A 50 DMA line violation on 7/08/09 triggered a technical sell signal. For its outlook to improve it would need to rally back above its 50 DMA line. 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 201 in March '09, which is good news concerning the I 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. Its small supply of shares (the S criteria) outstanding could contribute to especially great volatility in the event of institutional accumulation or distribution.
>>> The latest Featured Stock Update with an annotated graph appeared on 7/10/2009. click here.
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C
A
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I |
News |
Chart |
SEC
View all notes Alert
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Company
Profile
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TNDM
- NASDAQ
Tandem Diabetes Care Inc
TELECOMMUNICATIONS - Wireless Communications
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$28.90
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N/A
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N/A
N/A
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3/2/2009
(Date
Featured) |
$18.89
(Price
Featured) |
PP = $29.85 |
G |
| MB = $31.34 |
Most Recent Note - 7/15/2009 7:57:38 PM
G - Today it posted a 5th consecutive small gain on very light volume and rose further above its 50 DMA line. Its choppy chart offers no sound base per the investment system's guidelines. It 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 7/7/2009. click here.
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News |
Chart |
SEC
View all notes Alert
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Company
Profile
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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
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