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AFTER MARKET UPDATE - THURSDAY, SEPTEMBER 11TH, 2014
Previous After Market Report Next After Market Report >>>
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DOW |
-19.71 |
17,049.00 |
-0.12% |
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Volume |
590,971,510 |
-1% |
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Volume |
1,569,527,460 |
-6% |
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NASDAQ |
+5.29 |
4,591.81 |
+0.12% |
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Advancers |
1,725 |
54% |
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Advancers |
1,637 |
56% |
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S&P 500 |
+1.76 |
1,997.45 |
+0.09% |
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Decliners |
1,336 |
42% |
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Decliners |
1,176 |
40% |
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Russell 2000 |
+7.36 |
1,172.34 |
+0.63% |
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52 Wk Highs |
43 |
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52 Wk Highs |
69 |
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S&P 600 |
+4.37 |
671.40 |
+0.66% |
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52 Wk Lows |
43 |
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52 Wk Lows |
50 |
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Major Averages Rebounded From Early Losses
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Stocks recovered from early losses to finish mixed on Thursday. The Dow rebounded from an 85 point decline to close down 20 at 17,049. The S&P 500 gained 2 points to 1,997. The NASDAQ was 5 points higher at 4,591. Volume totals were reported lighter than the prior session total on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 4-3 margin on the NYSE and by 7-5 on the NASDAQ exchange. There were 30 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 prior session total of 25 stocks. New 52-week highs outnumbered new 52-week lows on the Nasdaq exchange while new highs and new lows totals matched on the NYSE. There were gains for 7 of the 13 high-ranked companies currently included on the Featured Stocks Page. The broader market (M criteria) has encountered distributional pressure while leadership (stocks hitting new 52-week highs) has waned. Remember that disciplined investors buy stocks with superior fundamentals only after they have triggered a proper technical buy signal.
PICTURED: The Nasdaq Composite index is hovering near its 2014 high, well above prior highs and its 50-day moving average (DMA) lines defining near-term support.
The major averages were little changed as investors weighed renewed geopolitical tensions after President Obama announced plans to fight Islamic State militants and the E.U. approved new sanctions against Russia. Speculation of the Fed indicating its intention on interest rates at next week's policy meeting was also cited as a market headwind. Stocks moved higher in afternoon trading as a rebound in crude oil off its eight month lows lifted the energy sector. Williams Company (WMB +1.1%) and EOG Resources (EOG +1%) posted gains.
Utilities were the best performing group on the session. Shares of Exelon (EXC +0.6%) edged higher. Lululemon (LULU +13.09%) was a notable gainer, rallying after the yoga apparel maker posted earnings above estimates. Health care was down the most led by a decline in biotech stocks. Celgene (CELG -2.3%) fell.
Treasuries gave back early gains to finish little changed. Benchmark 10-year notes fell 2/32 to yield 2.55%. In commodity trading, WTI crude oil jumped +1.7% to $93.26/bbl. on the NYMEX. COMEX gold fell -0.2% to $1,241.70/oz.
The CANSLIM.net Featured Stocks Page shows the most action-worthy candidates and their latest notes and a Headline Link directs members to the latest detailed analysis with data-packed graphs annotated by a Certified expert along with links to additional resources. The Premium Member Homepage includes "dynamic archives" to all prior pay reports published.
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Kenneth J. Gruneisen started out as a licensed stockbroker in August 1987, a couple of months prior to the historic stock market crash that took the Dow Jones Industrial Average down -22.6% in a single day. He has published daily fact-based fundamental and technical analysis on high-ranked stocks online for two decades. Through FACTBASEDINVESTING.COM, Kenneth provides educational articles, news, market commentary, and other information regarding proven investment systems that work in good times and bad.
Comments contained in the body of this report are technical opinions only and are not necessarily those of Gruneisen Growth Corp. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities. |
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Financial, Networking and Commodity-Linked Groups Rose
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Bank Index ($BKX +0.50%) and the Broker/Dealer Index ($XBD +0.94%) had a positive influence on the major averages while the Retail Index ($RLX -0.02%) finished flat. The Semiconductor Index ($SOX +0.25%) and the Networking Index ($NWX +0.63%) tallied modest gains on Thursday while the Biotechnology Index ($BTK -0.91%) backpedaled. Commodity-linked shares had a mostly positive bias as the Gold & Silver Index ($XAU +0.80%) and the Oil Services Index ($OSX +0.78%) rose while the Integrated Oil Index ($XOI -0.23%) was down slightly.
Charts courtesy www.stockcharts.com
PICTURED: The Semiconductor Index ($SOX +0.25%) is consolidating after recently rallying for a new 2014 high.
| Oil Services |
$OSX |
286.10 |
+2.21 |
+0.78% |
+1.80% |
| Integrated Oil |
$XOI |
1,624.98 |
-3.82 |
-0.23% |
+8.11% |
| Semiconductor |
$SOX |
648.14 |
+1.60 |
+0.25% |
+21.14% |
| Networking |
$NWX |
342.91 |
+2.16 |
+0.63% |
+5.85% |
| Broker/Dealer |
$XBD |
172.72 |
+1.61 |
+0.94% |
+7.57% |
| Retail |
$RLX |
942.24 |
-0.18 |
-0.02% |
+0.26% |
| Gold & Silver |
$XAU |
93.00 |
+0.74 |
+0.80% |
+10.52% |
| Bank |
$BKX |
72.19 |
+0.36 |
+0.50% |
+4.23% |
| Biotech |
$BTK |
3,113.18 |
-28.73 |
-0.91% |
+33.59% |
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Consolidating Above Near-Term Support Levels
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
Westlake Chemical Corp (WLK -$0.38 or -0.40% to $94.85) is consolidating above prior highs in the $92 area and its 50-day moving average (DMA) line ($90.14). For investors who may be continuing to give it the benefit of the doubt despite the recently noted fundamental flaw any subsequent violations would raise greater concerns and trigger technical sell signals. Technical strength has continued despite having reported earnings +11% on +6% sales revenues for the Jun '14 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns.
Its 50 DMA line acted as support during its consolidation since last shown in this FSU section on 8/21/14 under the headline, "Technically Strong Despite Fundamental Concerns Raised By Most Current Quarterly Earnings". WLK traded up as much as +35.2% from when it was first featured in yellow at $72.79 rallying from a "double bottom" base in the 4/29/14 mid-day report (read here).
The Chemicals - Basic industry group has a Group Relative Strength rating of 82 and strong action and leadership from others in the group is a reassuring sign concerning the L criteria. WLK's annual earnings growth rate (A criteria) has been strong after a downturn in FY '08 and '09. The number of top-rated funds owning its shares rose from 381 in Sep '13 to 465 in Jun '14, a reassuring trend concerning the I criteria. Its current Up/Down Volume Ratio of 1.6 is an unbiased indication its shares have been under accumulation over the past 50 days. The small supply of only 40 million shares (S criteria) in the public float is ideal, while it can contribute to greater price volatility in the event of new institutional buying or selling.
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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 |
|
Max Buy |
ACT
-
NYSE
Actavis plc
Medical-Generic Drugs
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$232.74
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+1.49
0.64% |
$233.37
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1,180,484
53.17% of 50 DAV
50 DAV is 2,220,000
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$234.00
-0.54%
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6/20/2014
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$216.53
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PP = $230.87
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MB = $242.41
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Most Recent Note - 9/10/2014 4:44:57 PM
Y - Pulled back with higher volume today, encountering mild distributional pressure while perched at its 52-week high. Subsequent volume-driven gains to new highs may trigger a technical buy signal.
>>> FEATURED STOCK ARTICLE : Quietly Perched Within Striking Distance of 52-Week High - 8/28/2014
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C
A N
S L
I M
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AFSI
-
NASDAQ
Amtrust Financial Svcs
INSURANCE - Property and; Casualty Insurance
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$42.23
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+0.03
0.07% |
$42.34
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603,026
118.19% of 50 DAV
50 DAV is 510,200
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$47.10
-10.34%
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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 - 9/8/2014 6:24:37 PM
G - Churned above average volume without making price progress recently, a sign of distributional pressure. Relative Strength Rating is currently 72, below the 80+ minimum guideline for buy candidates. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Distributional Action; Sub Par Relative Strength Remains Concern - 9/8/2014
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C
A N
S L
I M
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BITA
-
NYSE
Bitauto Hldgs Ltd Ads
Internet-Content
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$82.43
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-1.45
-1.73% |
$83.51
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3,659,386
233.08% of 50 DAV
50 DAV is 1,570,000
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$98.28
-16.13%
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6/26/2014
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$46.20
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PP = $47.03
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MB = $49.38
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Most Recent Note - 9/11/2014 6:26:45 PM
G - Finished near the session high today but suffered another loss with heavy volume, enduring distributional pressure. Fundamentals remain strong. Noted repeatedly with caution - "Has the look of a 'climax run' with volume-driven gains getting very extended from its prior base."
>>> FEATURED STOCK ARTICLE : Finished Near Session Low - Noted With Look of "Climax Run" - 8/27/2014
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C
A N
S L
I M
|
EQM
-
NYSE
E Q T Midstream Partners
ENERGY - Oil and Gas Pipelines
|
$94.39
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-0.87
-0.91% |
$94.97
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75,951
44.42% of 50 DAV
50 DAV is 171,000
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$102.51
-7.92%
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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 - 9/10/2014 4:48:00 PM
G - Posted a gain today, consolidating above its closely coinciding 50 and 200 DMA lines. Little resistance remains due to overhead supply while perched within close striking distance of its 52-week high with volume totals cooling in recent weeks. Reported earnings +37% on +21% sales revenues for the Jun '14 quarter, an improvement after 2 sub par quarterly earnings comparisons.
>>> FEATURED STOCK ARTICLE : Forming New Base But Fundamental Flaws Remain a Concern - 9/3/2014
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C
A N
S L
I M
|
FB
-
NASDAQ
Facebook Inc Cl A
INTERNET
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$77.92
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+0.49
0.63% |
$78.36
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32,201,829
87.99% of 50 DAV
50 DAV is 36,596,000
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$78.17
-0.32%
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9/9/2014
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$76.67
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PP = $76.84
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MB = $80.68
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Most Recent Note - 9/10/2014 4:49:18 PM
Y - Posted a small gain today on light volume. Color code was changed to yellow with new pivot point cited based on its 7/24/14 high plus 10 cents. Recent gains lacked great volume conviction while gains above a stock's pivot point must have at least +40% above averages volume to trigger a proper new (or add-on) technical buy signal. See the latest FSU analysis for more details and annotated graphs. Prior highs in the $72 area define initial support along with its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Wedging Gains Not Indicative of Institutional Conviction - 9/9/2014
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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 |
|
Max Buy |
NXPI
-
NASDAQ
Nxp Semiconductors N V
ELECTRONICS - Semiconductor - Broad Line
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$71.34
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+0.71
1.01% |
$71.46
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2,211,875
68.69% of 50 DAV
50 DAV is 3,220,000
|
$73.09
-2.39%
|
8/29/2014
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$68.50
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PP = $67.89
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MB = $71.28
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Most Recent Note - 9/9/2014 12:17:26 PM
Y - Pulling back today following a streak of 8 consecutive gains for new 52-week highs. It remains below its "max buy" level. No overhead supply remains to act as resistance. Prior highs in the $67 area define initial support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Gap Up For New High With Volume Triggered Technical Buy Signal - 8/29/2014
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C
A N
S L
I M
|
PANW
-
NYSE
Palo Alto Networks
Computer Sftwr-Security
|
$100.49
|
+1.74
1.76% |
$102.45
|
5,292,754
340.92% of 50 DAV
50 DAV is 1,552,500
|
$99.90
0.59%
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7/30/2014
|
$84.21
|
PP = $85.88
|
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MB = $90.17
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Most Recent Note - 9/11/2014 12:27:44 PM
G - Hitting another new 52-week high today with heavy volume behind gains while getting extended from any sound base. No resistance remains due to overhead supply. Prior highs in the $87 area define initial support to watch above its 50 DMA line. Reported earnings +43% on +59% sales revenues for the Jul '14 quarter, continuing its strong earnings history satisfying the C criteria, however its Earnings Per Share (EPS) Rating has slumped below the 80+ minimum guideline for buy candidates.
>>> FEATURED STOCK ARTICLE : Pulling Back Following New Technical Breakout - 9/4/2014
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C
A N
S L
I M
|
STRT
-
NASDAQ
Strattec Security Corp
AUTOMOTIVE - Auto Parts
|
$86.87
|
+0.83
0.96% |
$87.82
|
16,463
78.40% of 50 DAV
50 DAV is 21,000
|
$89.87
-3.34%
|
8/22/2014
|
$71.47
|
PP = $73.97
|
|
MB = $77.67
|
Most Recent Note - 9/10/2014 4:40:39 PM
G - Perched at its 52-week high, extended from its prior base. Prior highs in the $74-77 area define initial support to watch on pullbacks. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Extended From Prior Highs and Previously Noted Base - 9/10/2014
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C
A N
S L
I M
|
TARO
-
NYSE
Taro Pharmaceutical Inds
DRUGS - Drug Manufacturers - Other
|
$156.49
|
-0.91
-0.58% |
$157.64
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38,037
43.22% of 50 DAV
50 DAV is 88,000
|
$165.30
-5.33%
|
7/30/2014
|
$144.24
|
PP = $149.99
|
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MB = $157.49
|
Most Recent Note - 9/10/2014 12:56:21 PM
G - Consolidating above its 50 DMA line and only -5.1% off its 52-week high. Recently enduring distributional pressure and noted with caution - "Extended from any sound base. Recently reported earnings for the Jun '14 quarter below the +25% minimum earnings guideline (C criteria) raising fundamental concerns."
>>> FEATURED STOCK ARTICLE : Churning Action Indicative of Distributional Pressure - 9/2/2014
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C
A N
S L
I M
|
TRN
-
NYSE
Trinity Industries Inc
TRANSPORTATION - Railroads
|
$47.87
|
+0.64
1.36% |
$47.97
|
1,912,676
78.04% of 50 DAV
50 DAV is 2,451,000
|
$50.43
-5.08%
|
4/30/2014
|
$37.79
|
PP = $38.03
|
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MB = $39.93
|
Most Recent Note - 9/9/2014 7:04:41 PM
G - Pulled back today with higher volume. There was a "negative reversal" at its 52-week high on 9/03/14. It has not formed a sound base. Prior highs near $46-47 define near-term support above its 50 DMA line.
>>> FEATURED STOCK ARTICLE : Rallying Into New High Territory Without Forming New Base - 8/25/2014
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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 |
|
Max Buy |
UA
-
NYSE
Under Armour Inc Cl A
CONSUMER NON-DURABLES - Textile - Apparel Clothing
|
$69.92
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-0.20
-0.29% |
$70.37
|
1,856,319
79.33% of 50 DAV
50 DAV is 2,340,000
|
$73.42
-4.77%
|
7/10/2014
|
$58.50
|
PP = $60.79
|
|
MB = $63.83
|
Most Recent Note - 9/9/2014 7:08:21 PM
G - Finished near the session low today with a loss on higher volume indicative of distributional pressure. No resistance remains due to overhead supply. Fundamental concerns were raised by earnings reported +0% on +34% sales revenues for the Jun '14 quarter, below the +25% minimum earnings guideline (C criteria), yet the company raised its guidance.
>>> FEATURED STOCK ARTICLE : Holding Ground Near All-Time Highs Despite Fundamental Concerns - 8/26/2014
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C
A N
S L
I M
|
WLK
-
NYSE
Westlake Chemical Corp
CHEMICALS - Specialty Chemicals
|
$94.85
|
-0.38
-0.40% |
$95.14
|
350,816
69.19% of 50 DAV
50 DAV is 507,000
|
$98.44
-3.65%
|
4/29/2014
|
$72.79
|
PP = $69.31
|
|
MB = $72.78
|
Most Recent Note - 9/11/2014 6:28:28 PM
G - Consolidating above prior highs in the $92 area defining support above its 50 DMA line. Subsequent violations would raise greater concerns and trigger technical sell signals. Technical strength has continued despite recent fundamental concerns. See the latest FSU analysis for more details and new annotated graphs.
>>> FEATURED STOCK ARTICLE : Consolidating Above Near-Term Support Levels - 9/11/2014
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C
A N
S L
I M
|
YY
-
NASDAQ
YY Inc Ads
INTERNET - Internet Service Providers
|
$89.99
|
-1.04
-1.14% |
$92.20
|
1,285,769
87.77% of 50 DAV
50 DAV is 1,465,000
|
$96.39
-6.64%
|
8/19/2014
|
$85.81
|
PP = $91.03
|
|
MB = $95.58
|
Most Recent Note - 9/8/2014 6:27:29 PM
G - Hit another new 52-week high with today's volume-driven gain and rallied beyond its "max buy" level. Getting extended from its prior base, its color code is changed to green. Prior highs near $90 define near-term support to watch on pullbacks.
>>> FEATURED STOCK ARTICLE : Perched at High After Triggering Technical Buy Signal - 9/5/2014
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C
A N
S L
I M
|
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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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