Stocks ended lower for a third straight day after jobless claims rose and the latest round of Q2 earnings fell short of analysts' estimates. Volume totals were reported lower on the NYSE and on the Nasdaq exchanges versus the prior session which was a somewhat welcoming sign. Decliners led advancers by approximately a 3-to-2 ratio on the NYSE and on the Nasdaq exchange. New 52-week highs outnumbered new 52-week lows on the NYSE but trailed new lows by a large margin on the Nasdaq exchange. There were only 3 high-ranked companies from the CANSLIM.net Leaders List made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, one more than the 2 issues that appeared on the prior session.

US stocks fell but ended near their intra-day highs after the Labor Department said unemployment claims unexpectedly rose to the highest level in five months and several well-known tech stocks got whacked after Cisco Systems (CSCO -9.99%) released their Q2 results. The uptick in jobless claims was the latest in a series of tepid economic reports released this week which sparked concerns that the global economic recovery will slow in the latter half of the year. Cisco, the world’s largest manufacturer of networking equipment, plunged nearly -10% after sales fell short of analysts’ estimates. The sour outlook weighed on the Nasdaq Composite Index where many high profile tech stocks reside. 

The technical action in the major averages has deteriorated significantly.  Not all of the major averages managed to rally above their recent chart highs, and all have now sliced back below their respective 200-day moving average (DMA) lines. It is also worrisome to see the number of distribution days pile up in recent weeks which puts pressure on the current five-week rally.  Whenever a market rally becomes under pressure (as it is now), it is usually wise to err on the side of caution and adopt a strong defensive stance until the bulls regain control. Trade accordingly.

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PICTURED: The Dow Jones Industrial Average traded near its 50 DMA line after a 200 DMA violation on the prior session.

The Biotechnology Index ($BTK +1.30%) and Gold & Silver Index ($XAU +2.00%) were standout gainers on Thursday.  The Bank Index ($BKX -0.35%) and Broker/Dealer Index ($XBD -0.48%) edged lower and the Retail Index ($RLX -0.03%) and Healthcare Index ($HMO +0.02%) ended flat.  Energy-related shares ended with small losses and the Integrated Oil Index ($XOI -0.61%) and Oil Services Index ($OSX -0.45%) closed lower.  The Internet Index ($IIX -1.50%) and Semiconductor Index ($SOX -1.31%) suffered losses.

Charts courtesy www.stockcharts.com

PICTURED: The Networking Index ($NWX -3.69%) was a standout laggard. The tech sector created a drag on the tech-heavy Nasdaq Composite Index as a large loss for Cisco Systems Inc (CSCO -9.99%) made a big impact.

Medicis Pharmaceutical Corp's (MRX -$0.36 or -1.35% to $26.40) was featured in the mid-day report today (read here) and noted for its strong quarterly and annual earnings history. Pulling back from its 52-week high after its 8/06/10 breakout from a sound base, the high-ranked Medical - Ethical Drugs firm had rebounded into positive territory after initially gapping down.  However, its early resilience faded today and it closed below its pivot point as a loss on higher volume amounted to another distribution day and some technical damage. In a bullish market environment, healthy stocks do not slump more than -7% below their pivot point. Disciplined investors always limit losses by selling if any stock falls more than -7% from their purchase price.

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
AAPL - NASDAQ Apple Inc COMPUTER HARDWARE - Personal Computers	$251.79	+1.60 0.64%	$253.10	19,081,450 76.15% of 50 DAV 50 DAV is 25,057,300	$279.01 -9.76%	6/17/2010	$270.95	PP = $272.56
								MB = $286.19
Most Recent Note - 8/11/2010 5:05:12 PM G - Gapped down today amid broad-based market weakness, slumping below its 50 DMA line and raising concerns. Color code is changed to green based on the deterioration, and it would need to rally above its recent high near $266 for its outlook to improve. Recent chart low ($239) defines an important support level. >>> The latest Featured Stock Update with an annotated graph appeared on 8/9/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
ABV - NYSE Comp De Bebidas Adr FOOD and BEVERAGE - Beverages - Brewers	$104.45	+0.63 0.61%	$104.83	316,073 47.01% of 50 DAV 50 DAV is 672,300	$112.60 -7.24%	6/29/2010	$104.74	PP = $109.33
								MB = $114.80
Most Recent Note - 8/11/2010 5:09:25 PM G - This Brazil-based beverage firm closed under its 50 DMA line with a loss today on light volume. Color code is changed to green. It churned a lot of volume last week without making progress above prior chart highs. >>> The latest Featured Stock Update with an annotated graph appeared on 7/20/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
BIDU - NASDAQ Baidu Inc Ads INTERNET - Internet Information Providers	$82.65	-1.58 -1.88%	$84.10	12,279,929 105.53% of 50 DAV 50 DAV is 11,636,700	$88.32 -6.42%	7/14/2010	$75.03	PP = $78.59
								MB = $82.52
Most Recent Note - 8/12/2010 4:33:24 PM G - Closed in the upper third of its intra-day range, a sign of support arriving after gapping down again today. Prior highs define technical support along with its 50 DMA line. >>> The latest Featured Stock Update with an annotated graph appeared on 7/14/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
CACC - NASDAQ Credit Acceptance Corp FINANCIAL SERVICES - Credit Services	$58.09	-0.05 -0.09%	$58.27	33,738 64.63% of 50 DAV 50 DAV is 52,200	$59.75 -2.78%	7/29/2010	$52.04	PP = $54.07
								MB = $56.77
Most Recent Note - 8/11/2010 5:12:42 PM G - Stubbornly holding its ground today near its 52-week high after getting extended from its base with recent gains on above average volume. Prior highs in the $54 area define initial chart support to watch. >>> The latest Featured Stock Update with an annotated graph appeared on 8/2/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
CRM - NYSE Salesforce.Com Inc INTERNET - Internet Software and Services	$96.95	-0.96 -0.98%	$97.79	2,638,475 108.42% of 50 DAV 50 DAV is 2,433,600	$104.44 -7.17%	6/2/2010	$88.44	PP = $89.60
								MB = $94.08
Most Recent Note - 8/11/2010 11:57:11 AM G - Gapped down today from an all-time high amid broad-based market weakness after recently wedging above prior highs near $97 with gains lacking volume conviction. >>> The latest Featured Stock Update with an annotated graph appeared on 7/15/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | 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
DTSI - NASDAQ D T S Inc CONSUMER DURABLES - Electronic Equipment	$34.63	-0.12 -0.35%	$34.91	108,131 110.68% of 50 DAV 50 DAV is 97,700	$37.60 -7.90%	7/27/2010	$37.00	PP = $36.28
								MB = $38.09
Most Recent Note - 8/11/2010 5:15:51 PM G - Second consecutive loss today with above average volume, completely negating its recent breakout and sinking near its 50 DMA line. The high-ranked Consumer Products - Electronic firm's latest quarter ended June 30, 2010 showed earnings -67% on -28% sales revenues versus the year ago period. The fundamental flaw in its earnings history is very disappointing with respect to the C criteria now, and its color code was changed to green. >>> The latest Featured Stock Update with an annotated graph appeared on 7/27/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
FFIV - NASDAQ F 5 Networks Inc INTERNET - Internet Software and Services	$82.77	-4.05 -4.66%	$84.68	3,857,357 229.50% of 50 DAV 50 DAV is 1,680,800	$92.70 -10.71%	6/16/2010	$74.50	PP = $74.10
								MB = $77.81
Most Recent Note - 8/12/2010 11:53:32 AM G - Up from today's early lows after a second consecutive gap down. Recently noted as -"extended from any sound base after recent volume-driven gains, it could go on to produce more climactic gains." >>> The latest Featured Stock Update with an annotated graph appeared on 8/4/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
FOSL - NASDAQ Fossil Inc CONSUMER DURABLES - Recreational Goods, Other	$44.18	+0.00 0.00%	$44.34	916,229 105.27% of 50 DAV 50 DAV is 870,400	$46.30 -4.58%	8/10/2010	$45.54	PP = $42.69
								MB = $44.82
Most Recent Note - 8/11/2010 12:01:46 PM Y - Down today, pulling back below its "max buy" level amid broad-based market weakness following a considerable "breakaway gap" for a new 52-week high and all-time high. It faces no resistance due to overhead supply after triggering a technical buy signal. FOSL was featured in yellow in the 8/10/10 mid-day report (read here). Sales revenues and earnings increases showed impressive acceleration in the 3 latest quarters (Dec '09, Mar and Jun '10) following a streak of 4 negative comparisons versus the year ago period. The lack of leadership in the Retail/Wholesale - Jewelry group (L criteria) is a concern. >>> The latest Featured Stock Update with an annotated graph appeared on 8/11/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
MELI - NASDAQ Mercadolibre Inc INTERNET - Internet Software and; Services	$66.42	+0.80 1.22%	$67.40	683,141 65.35% of 50 DAV 50 DAV is 1,045,400	$68.67 -3.28%	5/13/2010	$54.21	PP = $55.85
								MB = $58.64
Most Recent Note - 8/12/2010 4:35:04 PM G - Consolidating after getting extended from any sound base, prior highs in the $62 area define initial chart support. >>> The latest Featured Stock Update with an annotated graph appeared on 7/23/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
MRX - NYSE Medicis Pharmaceut Cl A DRUGS - Biotechnology	$26.40	-0.36 -1.35%	$27.00	1,793,979 165.73% of 50 DAV 50 DAV is 1,082,500	$28.15 -6.22%	8/12/2010	$26.88	PP = $26.71
								MB = $28.05
Most Recent Note - 8/12/2010 4:45:11 PM Y - Its early resilience faded and it closed below its pivot point as a loss on higher volume amounted to another distribution day. Pulling back from its 52-week high after its 8/06/10 breakout from a sound base, the high-ranked Medical - Ethical Drugs firm was featured in the mid-day report today (read here) and noted for its strong quarterly and annual earnings history. >>> The latest Featured Stock Update with an annotated graph appeared on 8/12/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | 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
MWIV - NASDAQ M W I Veterinary Supply HEALTH SERVICES - Medical Instruments and; Supplies	$49.18	+1.01 2.10%	$49.59	35,122 47.33% of 50 DAV 50 DAV is 74,200	$54.48 -9.73%	7/29/2010	$52.05	PP = $52.09
								MB = $54.69
Most Recent Note - 8/12/2010 4:48:02 PM G - Today's gain on very light volume followed a damaging violation of its 50 DMA line and 2 considerable losses on heavier volume. Color code was changed to green and recent lows in the $46 area define the next chart support level below its short-term average. >>> The latest Featured Stock Update with an annotated graph appeared on 7/30/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
NEM - NYSE Newmont Mining Corp METALS and MINING - Gold	$57.75	+1.71 3.05%	$58.16	6,788,432 82.12% of 50 DAV 50 DAV is 8,266,300	$63.38 -8.88%	6/22/2010	$59.60	PP = $59.67
								MB = $62.65
Most Recent Note - 8/12/2010 4:55:29 PM G - Gain on light volume today, still closing below its 50 DMA line. Distributional action in recent weeks has been followed by no gains with average or higher volume. >>> The latest Featured Stock Update with an annotated graph appeared on 8/6/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
NEOG - NASDAQ Neogen Corp DRUGS - Diagnostic Substances	$27.54	+0.04 0.15%	$27.95	62,964 67.41% of 50 DAV 50 DAV is 93,400	$30.39 -9.38%	7/22/2010	$27.19	PP = $27.87
								MB = $29.26
Most Recent Note - 8/12/2010 5:03:07 PM Y - Halted its slide today with a small gain on light volume after distributional pressure led to trading near its 50 DMA line and prior highs in the $27 area defining important technical support. The prior session's loss on higher volume led to a close below its pivot point that negated its recent breakout, raising concerns. >>> The latest Featured Stock Update with an annotated graph appeared on 7/22/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
NFLX - NASDAQ Netflix Inc SPECIALTY RETAIL - Music and Video Stores	$133.05	+6.58 5.20%	$133.79	10,279,237 273.57% of 50 DAV 50 DAV is 3,757,500	$128.42 3.61%	8/10/2010	$124.05	PP = $124.00
								MB = $130.20
Most Recent Note - 8/12/2010 5:26:18 PM G - Gain today and strong close with more than twice average volume for a new all-time high. Rallied above its "max buy" level, its color code was changed to green. Its 8/10/10 gain with more than 3 times average volume lifted it above the pivot point after an 8-week "double bottom" base, and it may be considered a late-stage technical breakout. >>> The latest Featured Stock Update with an annotated graph appeared on 8/10/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
ROVI - NASDAQ Rovi Corp COMPUTER SOFTWARE andamp; SERVICES - Security Software andamp; Services	$42.06	-0.13 -0.31%	$42.07	1,359,349 113.83% of 50 DAV 50 DAV is 1,194,200	$44.96 -6.45%	6/3/2010	$38.70	PP = $40.16
								MB = $42.17
Most Recent Note - 8/11/2010 12:12:18 PM Y - Gapped down today amid broad-based market weakness, dipping under its "max buy" level toward recent chart lows. Color code is changed to yellow. Prior highs in the $40 area and its 50 DMA line define chart support. >>> The latest Featured Stock Update with an annotated graph appeared on 7/21/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | 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
SHOO - NASDAQ Steven Madden Limited CONSUMER NON-DURABLES - Textile - Apparel Footwear	$35.88	-0.12 -0.33%	$36.05	338,111 79.22% of 50 DAV 50 DAV is 426,800	$40.98 -12.45%	8/5/2010	$39.55	PP = $41.08
								MB = $43.13
Most Recent Note - 8/11/2010 11:40:28 AM Y - Gapped down today amid broad-based market weakness, forming a handle after a 16-week cup shaped pattern. A technical breakout above the $40 threshold would trigger a buy signal, meanwhile it is ideal for disciplined investors' watchlists. >>> The latest Featured Stock Update with an annotated graph appeared on 8/5/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
ULTA - NASDAQ Ulta Salon Cosm & Frag SPECIALTY RETAIL - Specialty Retail, Other	$22.97	+0.02 0.09%	$23.25	265,798 37.18% of 50 DAV 50 DAV is 714,900	$26.75 -14.13%	8/4/2010	$24.90	PP = $26.85
								MB = $28.19
Most Recent Note - 8/11/2010 11:43:11 AM G - Today's 7th consecutive loss has led to a 50 DMA line violation and its color code is changed to green. It would need to rally above the new pivot point cited with volume conviction to trigger a proper technical buy signal. >>> The latest Featured Stock Update with an annotated graph appeared on 7/19/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M
VIT - NYSE Vanceinfo Tech Inc Ads COMPUTER SOFTWARE and SERVICES - Business Software and Services	$26.17	-0.13 -0.49%	$26.46	353,760 72.52% of 50 DAV 50 DAV is 487,800	$27.96 -6.40%	7/8/2010	$25.20	PP = $26.58
								MB = $27.91
Most Recent Note - 8/11/2010 11:45:46 AM Y - Pulling back considerably today amid broad-based market weakness after recently wedging to new all-time highs with gains on lighter than average volume. It has not triggered a confirming buy signal with volume yet since featured in the 7/08/10 mid-day report. Its 7/29/10 low ($24.55) defines initial support above its 50 DMA line. >>> The latest Featured Stock Update with an annotated graph appeared on 7/26/2010. Click here. View all notes | Alert me of new notes | CANSLIM.net Company Profile | SEC | Zacks Reports | StockTalk | News | Chart |  Request a new note C A N S L I M