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AFTER MARKET UPDATE - TUESDAY, SEPTEMBER 17TH, 2013
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Indices NYSE Nasdaq
DOW  +34.95 15,529.73 +0.23% Volume 577,072,040 -12% Volume 1,461,638,420 -2%
NASDAQ +27.85 3,745.70 +0.75% Advancers 2,020 65% Advancers 1,707 65%
S&P 500 +7.16 1,704.76 +0.42% Decliners 988 32% Decliners 801 31%
Russell 2000 +10.14 1,066.39 +0.96% 52 Wk Highs 159   52 Wk Highs 135  
S&P 600 +4.47 601.24 +0.75% 52 Wk Lows 33   52 Wk Lows 17  

Major Averages Ended Higher on Lighter Volume

The major averages finished higher on Tuesday. Volume totals were lighter on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by more than a 2-1 margin on the NYSE and on the Nasdaq exchange.  Leadership there were 67 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 86 stocks on the prior session. The list of stocks hitting new 52-week highs swelled and solidly outnumbered new lows on the NYSE and on the Nasdaq exchange. There were gains for 18 of the 21 high-ranked companies currently included on the Featured Stocks Page.

 

The major averages ended the session in positive territory as investors awaited word from the Fed. Wall Street projections are the central bank will reduce its current monthly bond-buying program by $10 billion at the conclusion of its two-day policy meeting tomorrow. The market was also higher after a report showed consumer prices rose +0.1% in August, less than the consensus estimate for a +0.2% increase.

Consumer discretionary and technology were the best performing sectors. Safeway Inc (SWY +10.52%) rallied as it adopted a poison pill after saying an unnamed investor purchased a large amount of shares. Aeropostale Inc (ARO +18.12%) jumped higher after hedge fund Sycamore Partners disclosed an 8% stake in the company. Microsoft Corp (MSFT +0.39%) edged higher after announcing a +22% dividend increase and $40 billion share buyback. Materials and health care finished in negative territory. Fertilizer producer The Mosaic Co (MOS -1.21%) fell on its lowered sales forecast and managed care provider Aetna Inc (AET -1.40%) fell.

Treasuries gained with the 10-year note up 5/32 to yield 2.84%.

New buying efforts in stocks are justified under the fact-based system while the market (M criteria) is currently in a confirmed rally. Stay familiar with companies listed on the CANSLIM.net Featured Stocks Page - a page showing the most action-worthy candidates' latest notes and links to additional resources including detailed analysis with data-packed graphs which are annotated by a Certified expert.  The Premium Member Homepage - includes "dynamic archives" to all prior pay reports published. Watch for an announcement via email concerning the next WEBCAST.

PICTURED: The Dow Jones Industrial Average is perched -129 points from its all-time high hit 8/02/13 following 9 gains in the past 11 sessions. Gains above the prior high may help the broad-based rally gain additional upward momentum.


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, Retail, Tech, and Commodity-Linked Groups Ended Higher

The Retail Index ($RLX +0.91%) and financial indexes were a positive influence on the major averages as the Bank Index ($BKX +0.61%) and the Broker/Dealer Index ($XBD +0.92%) posted modest gains on Tuesday.  The tech sector saw unanimous gains from the Semiconductor Index ($SOX +0.62%), Internet Index ($IIX +0.83%), Biotechnology Index ($BTK +0.88%), and the Networking Index ($NWX +0.98%).  Energy-related shares also edged higher as the Oil Services Index ($OSX +0.61%) outpaced the Integrated Oil Index ($XOI +0.19%). Defensive groups were mxed as the Gold & Silver Index ($XAU +1.65%) posted a solid gain while the Healthcare Index ($HMO -0.70%) was a standout decliner.

Charts courtesy www.stockcharts.com

PICTURED: The Semiconductor Index ($SOX +0.62%) hit a new 2013 high today.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  274.95 +1.68 +0.61% +24.89%
Healthcare $HMO  3,605.92 -25.58 -0.70% +43.42%
Integrated Oil $XOI  1,403.09 +2.62 +0.19% +12.99%
Semiconductor $SOX  493.40 +3.05 +0.62% +28.47%
Networking $NWX  303.23 +2.94 +0.98% +33.85%
Internet $IIX  418.27 +3.46 +0.83% +27.91%
Broker/Dealer $XBD  141.19 +1.29 +0.92% +49.68%
Retail $RLX  842.41 +7.59 +0.91% +28.99%
Gold & Silver $XAU  96.51 +1.57 +1.65% -41.72%
Bank $BKX  64.58 +0.39 +0.61% +25.94%
Biotech $BTK  2,233.27 +19.46 +0.88% +44.36%


Gains Today Lacked Volume Conviction of Institutional Demand

Tangoe Inc (TNGO +$0.89 or +3.92% to $23.61) posted a gain lacking volume conviction today while wedging above its pivot point cited based on its May 2012 high plus 10 cents. It was highlighted in the 9/12/13 mid-day report with an annotated weekly graph (read here) as it topped its 2012 high with a recent spurt of gains backed by above average volume, and it tallied 16 weekly gains in the span of 18 weeks. Prior mid-day report repeatedly noted - "Fundamentals remain strong with great earnings increases through the Jun '13 quarter. Rebounded and rallied impressively following a deep consolidation below its 200 DMA line since dropped from the Featured Stocks list on 8/28/12."

Subsequent volume-driven gains may help to clinch a convicing technical breakout.  Volume should be at least a minimum +40% above average behind a technical breakout in order for investors to have good reason to believe that robust institutional buying demand is driving the stock higher which may lead to a sustained advance. Disciplined investors know that no advantage is gained by getting in "early" before a proper buy signal. For an example, look at the deep slump it went through after last appearing in this FSU section on 8/24/12 with an annotated graph under the headline, "Slump Below 50 DMA Line Hurts Outlook Again", as it slumped below its 50-day moving average (DMA) line after failing to break out.

One encouraging sign now is that its current Up/Down Volume Ratio of 1.8 hints that its shares have been under accumulation in the past 50 days.  TNGO completed a new Public Offering on 3/29/12, and such offerings often help companies attract more institutional interest. The number of top-rated funds owning its shares rose from 175 in Dec '12 to 210 in Jun '13, a reassuring sign concerning the I criteria. The company's management reportedly still owns 10% of its shares, keeping the directors motivated to look after and build shareholder value. There still are only 33.4 million shares (S criteria) in the publicly traded float, which can lead to more drastic price volatility in the event of institutional buying or selling.


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
AVG - NYSE
A V G Technologies N.V.
INTERNET - Internet Software and Services  
$24.42 -0.18
-0.73%

$25.12

1,195,281
142.74% of 50 DAV
50 DAV is 837,400
$24.83
-1.65%
9/13/2013 $23.06 PP = $23.88
MB = $25.07
Most Recent Note - 9/17/2013 12:04:43 PM
Y - Traded further into new high territory before reversing into the red today. Triggered a technical buy signal on the prior session with 5 times average volume behind its breakout gain above the pivot point cited in the 9/13/13 mid-day report (read here). More details and an annotated graph were included on 9/13/13 in the latest FSU analysis under the headline, "Rallying Near Pivot Point With Greater Volume Conviction".
>>> The latest Featured Stock Update with an annotated graph appeared on 9/13/2013. Click here.

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BITA - NYSE
Bitauto Hldgs Ltd Ads
INTERNET - Internet Information Providers  
$14.85 -0.77
-4.93%

$15.94

452,122
128.99% of 50 DAV
50 DAV is 350,500
$18.10
-17.96%
8/7/2013 $12.01 PP = $13.30
MB = $13.97
Most Recent Note - 9/17/2013 3:17:41 PM
G - Recently encountered distributional pressure. Its choppy 6-week consolidation above its 50 DMA line and prior highs is not recognized as a sound base pattern.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/3/2013. Click here.

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CELG - NASDAQ
Celgene Corp
DRUGS - Drug Manufacturers - Major  
$147.04 -1.00
-0.68%

$148.54

2,652,572
107.31% of 50 DAV
50 DAV is 2,471,900
$151.20
-2.75%
9/12/2013 $149.50 PP = $150.02
MB = $157.52
Most Recent Note - 9/12/2013 4:08:38 PM
Y - Wedging into new high territory this week with a streak of gains lacking volume conviction. New pivot point is cited based on its 8/01/13 high plus 10 cents, and subsequent volume-driven gains may trigger a new (or add-on) technical buy signal. It formed a base-on-base type pattern. Its 50 DMA line defines important chart support.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/21/2013. Click here.

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EGBN - NASDAQ
Eagle Bancorp Inc
BANKING - Regional - Mid-Atlantic Banks  
$27.74 +0.48
1.76%

$27.86

117,963
166.38% of 50 DAV
50 DAV is 70,900
$28.24
-1.77%
9/16/2013 $27.48 PP = $27.77
MB = $29.16
Most Recent Note - 9/16/2013 6:53:19 PM
Y - Finished lower today following a "negative reversal" after hitting a new 52-week high. Highlighted in yellow with a new pivot point based on its 7/25/13 high plus 10 cents. Reported earnings +33% on +15% sales revenues for the Jun '13 quarter. Found support at its 50 DMA line again since noted in the 7/26/13 mid-day report - "This Bank holding company with operations in the Northeast has shown strong sales revenues and earnings increases (C criteria) in recent quarterly comparisons. Annual earnings (A criteria) history included a downturn in FY '07-09 yet improved in recent years." See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/16/2013. Click here.

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FLT - NYSE
Fleetcor Technologies
DIVERSIFIED SERVICES - Business/Management Services  
$109.57 +1.10
1.01%

$109.82

349,311
57.04% of 50 DAV
50 DAV is 612,400
$110.42
-0.77%
8/19/2013 $99.01 PP = $100.97
MB = $106.02
Most Recent Note - 9/12/2013 12:33:46 PM
G - Blasted beyond its "max buy" level to new highs after pricing a 2.75M share Secondary Offering at $105.25. FLT has traded up as much as +55% since first featured in yellow in the mid-day report on 3/21/13 (read here)
>>> The latest Featured Stock Update with an annotated graph appeared on 9/6/2013. 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
GNRC - NYSE
Generac Hldgs Inc
CONSUMER DURABLES - Electronic Equipment  
$41.87 +0.30
0.72%

$41.91

463,863
55.54% of 50 DAV
50 DAV is 835,200
$44.30
-5.49%
9/12/2013 $41.40 PP = $43.27
MB = $45.43
Most Recent Note - 9/12/2013 5:47:27 PM
Y - Rebounded above its 50 DMA line, its color code is changed to yellow while building on a new base with pivot point based on its 8/14/13 high. Subsequent volume-driven gains may trigger a new technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/22/2013. Click here.

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KORS - NYSE
Michael Kors Hldgs Ltd
RETAIL - Apparel Stores  
$75.02 +0.72
0.97%

$75.06

2,182,202
61.40% of 50 DAV
50 DAV is 3,553,800
$76.74
-2.24%
8/6/2013 $69.66 PP = $66.28
MB = $69.59
Most Recent Note - 9/17/2013 3:04:29 PM
G - Extended from its prior base and volume totals have been cooling while consolidating near its 52-week high. Its 50 DMA line defines support above prior highs in the $66 area.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/29/2013. Click here.

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LOPE - NASDAQ
Grand Canyon Education
DIVERSIFIED SERVICES - Education and; Training Services  
$38.01 +1.13
3.06%

$38.11

345,284
85.15% of 50 DAV
50 DAV is 405,500
$37.48
1.42%
6/19/2013 $31.47 PP = $34.17
MB = $35.88
Most Recent Note - 9/17/2013 3:40:36 PM
G - Hitting a new all-time high with today's gain backed by light volume. Fundamental concerns remain while technical action has been reassuring.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/12/2013. Click here.

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MRLN - NASDAQ
Marlin Business Services
DIVERSIFIED SERVICES - Rental and Leasing Services  
$25.39 +0.33
1.32%

$25.63

23,444
61.69% of 50 DAV
50 DAV is 38,000
$26.96
-5.82%
9/9/2013 $25.75 PP = $26.07
MB = $27.37
Most Recent Note - 9/12/2013 12:52:07 PM
Y - Trading at a new 52-week high today. The company announced plans to pay a Special Dividend to shareholders of record 9/16/13. Held its ground stubbornly and rose since a volume-driven breakout gain on 9/05/13. See the latest FSU analysis for more details and an annotated weekly graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/9/2013. Click here.

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PCLN - NASDAQ
Priceline.Com Inc
INTERNET - Internet Software and Services  
$970.24 +2.50
0.26%

$973.42

279,055
43.34% of 50 DAV
50 DAV is 643,900
$994.98
-2.49%
9/13/2013 $966.82 PP = $995.08
MB = $1,044.83
Most Recent Note - 9/13/2013 8:30:57 PM
Y - Color code is changed to yellow with new pivot point cited based on its 8/09/13 high plus 10 cents. Consolidating in an orderly fashion above prior highs, still building a new flat base. Subsequent volume-driven gains may trigger a new (or add-on) technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/19/2013. 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
PRAA - NASDAQ
Portfolio Recovery Assoc
DIVERSIFIED SERVICES - Business/Management Services  
$59.14 +0.17
0.29%

$59.20

368,060
66.73% of 50 DAV
50 DAV is 551,600
$59.45
-0.52%
7/31/2013 $51.43 PP = $54.72
MB = $57.46
Most Recent Note - 9/17/2013 3:19:21 PM
G - Extended from its prior base and hovering very near its 52-week high for the past week with volume totals cooling. Found support above its 50 DMA line during the latest consolidation.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/28/2013. Click here.

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PRLB - NYSE
Proto Labs Inc
MANUFACTURING - Small Tools and Accessories  
$75.56 +0.81
1.08%

$76.00

291,372
73.04% of 50 DAV
50 DAV is 398,900
$76.73
-1.52%
7/29/2013 $64.86 PP = $67.50
MB = $70.88
Most Recent Note - 9/16/2013 6:54:53 PM
G - Gapped up today and posted a gain with light volume. Support to watch is at prior highs and above its 50 DMA line coinciding in the $67 area.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/27/2013. Click here.

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QCOR - NASDAQ
Questcor Pharmaceuticals
DRUGS - Biotechnology  
$65.53 +0.26
0.40%

$66.20

675,812
39.89% of 50 DAV
50 DAV is 1,694,200
$74.76
-12.35%
7/31/2013 $66.46 PP = $59.01
MB = $61.96
Most Recent Note - 9/16/2013 6:57:03 PM
G - Consolidating above its 50 DMA line defining important near-term support. A subsequent violation would trigger a technical sell signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/26/2013. Click here.

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SFUN - NYSE
Soufun Hldgs Ltd Ads A
INTERNET - Internet Information Providers  
$45.40 +0.20
0.44%

$46.04

607,044
70.49% of 50 DAV
50 DAV is 861,200
$53.77
-15.57%
7/16/2013 $29.54 PP = $27.90
MB = $29.30
Most Recent Note - 9/12/2013 3:58:49 PM
G - Retreating from all-time highs with above average volume behind today's 2nd consecutive loss. It is still very extended from any sound base. Recent highs near $42 define initial support to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/30/2013. Click here.

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SSNC - NASDAQ
S S & C Technologies
COMPUTER SOFTWARE and SERVICES - Application Software  
$38.97 +0.78
2.04%

$39.69

621,038
173.43% of 50 DAV
50 DAV is 358,100
$38.80
0.44%
9/5/2013 $36.01 PP = $38.90
MB = $40.85
Most Recent Note - 9/17/2013 3:22:08 PM
Y - Today's 4th consecutive gain has it rallying above its pivot point cited based on its 8/02/13 high plus 10 cents. Gains above the pivot point should have a minimum of +40% above average volume to trigger a proper technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/5/2013. 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
SSYS - NASDAQ
Stratasys Ltd
COMPUTER HARDWARE - Computer Peripherals  
$96.82 +3.37
3.61%

$96.84

1,619,393
153.31% of 50 DAV
50 DAV is 1,056,300
$113.49
-14.69%
7/8/2013 $91.44 PP = $95.00
MB = $99.75
Most Recent Note - 9/17/2013 3:34:35 PM
Y - Rebounding near its 50 DMA line after completing a new Public Offering on 9/13/13 perched near all-time highs.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/10/2013. Click here.

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STMP - NASDAQ
Stamps.Com Inc
INTERNET - Internet Software and Services  
$44.43 +0.96
2.21%

$44.52

91,878
70.89% of 50 DAV
50 DAV is 129,600
$46.47
-4.39%
7/31/2013 $40.00 PP = $42.98
MB = $45.13
Most Recent Note - 9/17/2013 3:39:21 PM
Y - Poised for a best-ever close with today's small gain on light volume. Recently found encouraging support at its 50 DMA line.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/23/2013. Click here.

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TBBK - NASDAQ
Bancorp Inc
BANKING - Regional - Mid-Atlantic Banks  
$17.94 +0.01
0.06%

$18.13

210,901
126.59% of 50 DAV
50 DAV is 166,600
$18.38
-2.39%
9/4/2013 $16.26 PP = $16.79
MB = $17.63
Most Recent Note - 9/12/2013 1:03:15 PM
G - Perched at its 52-week high today following a streak of 10 consecutive gains, extended from its prior base. Prior highs define important near-term support to watch near $16 on pullbacks. Rallied +12% higher since highlighted on 9/04/13 under the headline, "Forming Sound Set-Up While "M" Correction Remains Overriding Concern".
>>> The latest Featured Stock Update with an annotated graph appeared on 9/4/2013. Click here.

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TNGO - NASDAQ
Tangoe Inc
COMPUTER SOFTWARE and SERVICES - Technical and System Software  
$23.61 +0.89
3.92%

$23.67

494,342
97.70% of 50 DAV
50 DAV is 506,000
$23.72
-0.46%
9/12/2013 $21.30 PP = $23.15
MB = $24.31
Most Recent Note - 9/17/2013 6:43:01 PM
Y - Today's gain lacked sufficient volume conviction while wedging above its pivot point cited based on its May 2012 high plus 10 cents. See the latest FSU analysis for more details and a new annotated daily graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/17/2013. Click here.

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VRX - NYSE
Valeant Pharmaceuticals
DRUGS - Drug Manufacturers - Other  
$102.77 +1.55
1.53%

$103.40

1,232,818
104.18% of 50 DAV
50 DAV is 1,183,300
$105.40
-2.50%
9/11/2013 $100.26 PP = $105.50
MB = $110.78
Most Recent Note - 9/17/2013 3:23:58 PM
Y- Wedging higher with gains lacking great volume conviction while rising toward the pivot point cited based on its 8/14/13 high plus 10 cents. Recent insider buying while trading near its highs has been noted as an encouraging sign.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/11/2013. 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
YNDX - NASDAQ
Yandex N V Class A
INTERNET - Internet Information Providers  
$35.19 +0.28
0.80%

$35.50

1,531,728
60.52% of 50 DAV
50 DAV is 2,530,900
$35.88
-1.92%
9/5/2013 $34.24 PP = $34.79
MB = $36.53
Most Recent Note - 9/13/2013 8:46:28 PM
Y - Tallied a 4th consecutive small loss today while holding its ground just -4.2% off its 52-week high.Found support at its 50 DMA line, important near-term support to watch. A valid secondary buy point exists up to +5% above its prior high.
>>> The latest Featured Stock Update with an annotated graph appeared on 8/20/2013. Click here.

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