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AFTER MARKET UPDATE - TUESDAY, OCTOBER 9TH, 2012
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Indices NYSE Nasdaq
DOW  -110.12 13,473.53 -0.81% Volume 612,530,350 +32% Volume 1,593,750,130 +38%
NASDAQ -47.33 3,065.02 -1.52% Advancers 694 22% Advancers 542 21%
S&P 500 -14.40 1,441.48 -0.99% Decliners 2,348 75% Decliners 1,935 75%
Russell 2000 -10.49 827.92 -1.25% 52 Wk Highs 95   52 Wk Highs 40  
S&P 600 -6.08 461.90 -1.30% 52 Wk Lows 27   52 Wk Lows 49  

Indices Fell on Higher But Below Average Volume Totals

The major averages suffered larger losses than they have in many weeks on Tuesday's session and finished near their session lows. The volume totals on the NYSE and on the Nasdaq exchange rose from the prior session's subdued volume totals, yet the NYSE volume total remained below average and the Nasdaq exchange's volume total was near average. Decliners led advancers by a 7-2 margin on the NYSE and on the Nasdaq exchange. The total number of new 52-week highs still outnumbered new 52-week lows on the NYSE, however the new lows outnumbered new highs on the Nasdaq exchange for the first time since August 2nd. There were 13 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 prior session total of 19 stocks. There were losses for every one of the 22 high-ranked companies currently included on the Featured Stocks Page, a disproportionately negative bias for high-ranked leaders versus the broader market.

 

Stocks were under pressure throughout the day as investors responded to the IMF's downward revision to global growth for 2012 and 2013. Low expectations for third-quarter earnings season also weighed on equities as investors prepared for profit tallies from Alcoa Inc (AA +0.11%) and Yum! Brands Inc (YUM -1.34%).

Nine of the 10 sectors on the S&P ended lower, led by sharp declines in tech and healthcare stocks. Edwards Lifesciences Corp (EW -21.21%) fell following a profit warning in their upcoming earnings. Shares of and DR Horton Inc (DHI -2.65%) fell and other homebuilders finished lower following reports that recent positive movements in housing may be creating a false sense of an accelerating recovery.

Turning to fixed income, Treasuries ended higher with the benchmark 10-year note adding 9/32 of a point to yield 1.72% and the 30-year bond gaining nearly a full point to yield 2.93%.

The weak action was particularly evident on the chart of the Nasdaq Composite Index. That coupled with waning leadership (fewer stocks hitting new 52-week highs) suggested that the market rally is currently under pressure, although not in a full blown correction. Investors should watch individual holdings very carefully through the coming earnings season and be prepared to take quick action. The M criteria could still argue for accumulating strong acting stocks with all-key criteria, however additional distributional action would obviously hurt the market outlook.

Watch for an announcement via email concerning the Q3 2012 WEBCAST. The webcast will also be available via an updated link highlighted at the top of the Premium Member Homepage

PICTURED 1: The Dow Jones Industrial Average fell on higher volume than the prior session, yet the volume total was still below average. An upward trendline closely coincides with its 50-day moving average (DMA) line defining important chart support along with its prior 2012 highs.

PICTURED 2: The Nasdaq Composite Index violated its 50 DMA line on higher (near average) volume, raising some concerns about the market rally's health.   


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.


Tech Sector Led Declines

The tech sector had a tough day, led lower by the Internet Index ($IIX -2.48%), followed by the Biotechnology Index ($BTK -2.15%), Networking Index ($NWX -1.93%), and the Semiconductor Index ($SOX -1.59%). The Retail Index ($RLX -1.71%) also was hit with a big loss, and losses for the Broker/Dealer Index ($XBD -0.91%) and the Bank Index ($BKX -0.63%) were also a negative influence on the major averages.  The Gold & Silver Index ($XAU -2.08%) led defensive groups lower, meanwhile the Healthcare Index ($HMO -0.68%) suffered a more modest loss. The Integrated Oil Index ($XOI -0.33%) edged lower while the Oil Services Index ($OSX +0.82%) bucked the broader market weakness and tallied a solid gain.

Charts courtesy www.stockcharts.com

PICTURED: The Internet Index ($IIX -2.48%) fell near its 50-day moving average (DMA) line.


Industry Index Symbol Close Change % Change YTD % Change
Oil Services $OSX  222.03 +1.81 +0.82% +2.66%
Healthcare $HMO  2,443.99 -16.68 -0.68% +7.12%
Integrated Oil $XOI  1,254.59 -4.15 -0.33% +2.07%
Semiconductor $SOX  373.11 -6.02 -1.59% +2.38%
Networking $NWX  199.90 -3.94 -1.93% -7.09%
Internet $IIX  316.95 -8.07 -2.48% +12.50%
Broker/Dealer $XBD  84.02 -0.77 -0.91% +0.91%
Retail $RLX  659.55 -11.50 -1.71% +26.06%
Gold & Silver $XAU  186.13 -3.95 -2.08% +3.04%
Bank $BKX  50.85 -0.32 -0.63% +29.13%
Biotech $BTK  1,553.80 -34.10 -2.15% +42.36%


Pullback Testing Prior Highs And 50-Day Moving Average

Linkedin Corp (LNKD -$4.90 or -4.15% to $113.07) fell on near average volume, retreating near prior highs in the $113 area along with its 50-day moving average (DMA) line defining important near-term support to watch. Subsequent violations may trigger technical sell signals. It was last seen in this FSU section on 9/06/12 under the headline, "Rally Above "Max Buy" Level With Big Volume-Driven Gain", after the high-ranked leader from the Internet - Content group was highlighted in yellow in the 9/05/12 mid-day report (read here). It had cleared the pivot point cited based on its 8/06/12 high plus 10 cents with a considerable gain backed by twice average volume clinching a technical buy signal.  It went on to tally an additional gain with just above average volume and then it stalled. The recent price/volume action has been indicative of mild distributional pressure. 

If it resumes its rally there is some overhead supply up through the $125 area that may hinder its upward progress after trading at higher levels in recent weeks, however it remains perched only 9.9% off its all-time high. Keep in mind that disciplined investors always limit losses by selling if ever any stock fall more than -7% from its purchase price. Proper discipline with this fact-based system always starts by only buying stocks after they have triggered a technical buy signal, but before they are extended more than +5% above their pivot point. In bullish market environments, high-ranked leaders often form multiple bases. Odds are most favorable for investors when buying fresh technical breakouts from proper bases, and odds are not as favorable when buying stocks on pullbacks near support.

Strong quarterly earnings increases satisfy the C criteria and its annual earnings history (A criteria) has been strong. It completed another Public Offering on 11/16/11 following its IPO in May '11. Its Return On Equity of 11% (previously noted) is below the 17% guideline, which is a minor concern. Ownership by top-rated funds has been on the rise, increasing from 185 in Sep '11 to 643 in Sep '12, a very reassuring sign concerning the I criteria.


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
ALXN - NASDAQ
Alexion Pharmaceuticals
DRUGS - Drug Manufacturers - Other  
$111.30 -3.94
-3.42%

$114.93

1,372,350
134.78% of 50 DAV
50 DAV is 1,018,200
$119.54
-6.89%
8/23/2012 $103.70 PP = $110.06
MB = $115.56
Most Recent Note - 10/9/2012 1:47:51 PM
Y - Color code is changed to yellow after retreating below its "max buy" level. The prior highs in the $110 area define chart support along with its 50 DMA line where violations would raise concerns and trigger technical sell signals..
>>> The latest Featured Stock Update with an annotated graph appeared on 9/26/2012. Click here.

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ASPS - NASDAQ
Altisource Ptf Sltns Sa
REAL ESTATE - Property Management/Developmen  
$108.41 -3.38
-3.02%

$111.56

246,315
144.04% of 50 DAV
50 DAV is 171,000
$115.73
-6.33%
9/24/2012 $87.24 PP = $92.39
MB = $97.01
Most Recent Note - 10/9/2012 1:48:46 PM
G - Consolidating after getting very extended from its prior base with 2 big volume-driven gains last week. Prior highs in the $92 area define initial support to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/11/2012. Click here.

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BRLI - NASDAQ
Bio Reference Labs Inc
HEALTH SERVICES - Medical Laboratories and Researc  
$30.96 -0.55
-1.75%

$31.78

323,928
117.75% of 50 DAV
50 DAV is 275,100
$32.86
-5.78%
10/3/2012 $30.90 PP = $30.25
MB = $31.76
Most Recent Note - 10/8/2012 6:13:38 PM
G - Consolidating above its "max buy" level today after triggering a technical buy signal on 10/03/12 with a considerable volume-driven gain above its pivot point. See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 10/8/2012. Click here.

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CFNL - NASDAQ
Cardinal Financial Corp
BANKING - Regional - Southeast Banks  
$14.21 -0.07
-0.49%

$14.43

97,775
128.99% of 50 DAV
50 DAV is 75,800
$14.79
-3.92%
8/17/2012 $12.84 PP = $13.31
MB = $13.98
Most Recent Note - 10/9/2012 1:53:54 PM
G - Halted its slide with volume-driven gains following the damaging loss on heavy volume previously noted on 10/03/12. That session's low ($13.80) defines near-term support above its 50 DMA line ($13.44 now) where a violation would trigger a technical sell signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/25/2012. Click here.

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CMCSA - NASDAQ
Comcast Corp Cl A
MEDIA - CATV Systems  
$35.32 -0.89
-2.46%

$36.16

12,280,387
98.70% of 50 DAV
50 DAV is 12,442,000
$36.98
-4.49%
6/11/2012 $29.94 PP = $30.98
MB = $32.53
Most Recent Note - 10/9/2012 1:56:21 PM
G - Consolidating quietly after wedging to a new 52-week high with gains in the past week lacking great volume conviction. Prior highs in the $35 area define support to watch above its 50 DMA line where violations would trigger technical sell signals. Fundamental concerns have been repeatedly noted - "Due to sub par sales and earnings growth in the Jun '12 quarter."
>>> The latest Featured Stock Update with an annotated graph appeared on 9/21/2012. 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
DVA - NYSE
Davita Inc
HEALTH SERVICES - Specialized Health Services  
$107.82 -0.59
-0.54%

$108.73

705,823
94.37% of 50 DAV
50 DAV is 747,900
$109.31
-1.36%
9/5/2012 $102.92 PP = $100.62
MB = $105.65
Most Recent Note - 10/9/2012 1:58:20 PM
G - Stubbornly holding its ground near its 52-week high after getting extended from its latest sound base. Prior highs near $100 and its 50 DMA line define near term support to watch on pullbacks where violations may trigger technical sell signals.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/5/2012. Click here.

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EXPE - NASDAQ
Expedia Inc
INTERNET - Internet Information Providers  
$55.48 -1.32
-2.32%

$56.77

2,825,514
102.25% of 50 DAV
50 DAV is 2,763,300
$60.29
-7.98%
4/27/2012 $41.80 PP = $35.57
MB = $37.35
Most Recent Note - 10/8/2012 4:02:50 PM
G - Volume totals have been below average after forming a late-stage cup-with-handle type base and it is currently perched -5.7% off its 52-week high while quietly consolidating above its 50 DMA line. It has been noted a few times in recent weeks - "No overhead supply remains to hinder its progress, however weak industry group action and iffy fundamentals were noted as causes for concern." See more details and an annotated graph in the latest FSU analysis under the headline "Online Travel Firm Resilient Despite Unfavorable Signs - Wednesday, September 19, 2012"

>>> The latest Featured Stock Update with an annotated graph appeared on 9/19/2012. Click here.

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GPX - NYSE
G P Strategies Corp
DIVERSIFIED SERVICES - Education and Training Services  
$19.56 -0.42
-2.10%

$19.97

26,161
34.11% of 50 DAV
50 DAV is 76,700
$20.67
-5.37%
10/8/2012 $20.00 PP = $20.77
MB = $21.81
Most Recent Note - 10/8/2012 4:07:52 PM
Y - Perched only -3.1% off its 52-week high today, it recently found support at its 50 DMA line. Color code is changed to yellow with new pivot point cited based on its 8/29/12 high plus 10 cents. Volume driven gains above the pivot point may trigger a new (or add-on) technical buy signal. Losses exceeding last week's low $18.82 would raise concerns and trigger technical sell signals.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/13/2012. Click here.

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LKQ - NASDAQ
L K Q Corp
WHOLESALE - Auto Parts  
$19.28 -0.13
-0.67%

$19.44

1,401,782
101.70% of 50 DAV
50 DAV is 1,378,400
$20.02
-3.67%
8/9/2012 $18.97 PP = $18.72
MB = $19.66
Most Recent Note - 10/3/2012 6:22:53 PM
Y - Rebounded above its 50 DMA line helping its technical stance with today's gain backed by above average volume, and its color code is changed to yellow again. Do not be confused by a 2:1 share split effective 9/19/12 (Featured Price, Pivot Point and Max Buy were adjusted).
>>> The latest Featured Stock Update with an annotated graph appeared on 9/17/2012. Click here.

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LNKD - NYSE
Linkedin Corp Class A
INTERNET - Internet Information Providers  
$113.07 -4.90
-4.15%

$118.00

2,570,339
106.24% of 50 DAV
50 DAV is 2,419,300
$125.50
-9.90%
9/5/2012 $113.25 PP = $113.10
MB = $118.76
Most Recent Note - 10/9/2012 6:52:17 PM
Y - Fell today on higher (near average) volume to prior highs in the $113 area and its 50 DMA line previously noted as important near-term support. Subsequent violations may trigger technical sell signals. See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 10/9/2012. 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
LULU - NASDAQ
Lululemon Athletica
MANUFACTURING - Textile Manufacturing  
$72.79 -2.62
-3.47%

$75.67

1,789,135
69.94% of 50 DAV
50 DAV is 2,558,100
$81.09
-10.24%
10/2/2012 $74.89 PP = $78.97
MB = $82.92
Most Recent Note - 10/8/2012 4:11:58 PM
Y - Following its cup-with-handle base pattern there have not yet been the volume-driven gains above its pivot point needed to confirm a technical buy signal. Fundamentals remain strong (good C and A criteria) and very little resistance from overhead supply is there to hinder its progress.
>>> The latest Featured Stock Update with an annotated graph appeared on 10/2/2012. Click here.

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MIDD - NASDAQ
Middleby Corp
MANUFACTURING - Diversified Machinery  
$117.29 -0.94
-0.80%

$119.08

42,080
41.17% of 50 DAV
50 DAV is 102,200
$122.57
-4.31%
10/8/2012 $118.46 PP = $122.67
MB = $128.80
Most Recent Note - 10/8/2012 3:54:32 PM
Y - Perched -3.4% off its 52-week high today with volume totals cooling in recent weeks while holding its ground. Color code is changed to yellow with new pivot point cited based on its 9/06/12 high plus 10 cents. Subsequent volume-driven gains above the pivot point may trigger a new (or add-on) technical buy signal. Its 50 DMA line and recent lows define near-term chart support to watch.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/18/2012. Click here.

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N - NYSE
Netsuite Inc
DIVERSIFIED SERVICES - Business/Management Services  
$59.89 -2.32
-3.73%

$62.40

597,138
99.14% of 50 DAV
50 DAV is 602,300
$64.70
-7.43%
8/20/2012 $55.88 PP = $59.32
MB = $62.29
Most Recent Note - 10/9/2012 2:01:26 PM
Y - Color code is changed to yellow while quietly consolidating back below its "max buy" level. Prior highs near $59 closely coincide with its 50 DMA line defining important chart support where subsequent violations would trigger technical sell signals.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/24/2012. Click here.

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NSM - NYSE
Nationstar Mtg Hldgs Inc
FINANCIAL SERVICES - Credit Services  
$33.29 -0.76
-2.23%

$34.22

1,175,420
101.74% of 50 DAV
50 DAV is 1,155,300
$37.20
-10.51%
8/29/2012 $27.96 PP = $28.85
MB = $30.29
Most Recent Note - 10/5/2012 5:47:11 PM
G - A steep upward trendline defines a near-term support level above its 50 DMA line. Finished today at the session low with a loss on above average volume. A worrisome "negative reversal" on 10/03/12 after hitting a new 52-week high raised some concerns after repeatedly noted as - "Extended from its prior base."
>>> The latest Featured Stock Update with an annotated graph appeared on 9/7/2012. Click here.

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OSIS - NASDAQ
O S I Systems Inc
ELECTRONICS - Semiconductor Equipment and Mate  
$75.25 -0.51
-0.67%

$75.58

79,243
59.76% of 50 DAV
50 DAV is 132,600
$78.93
-4.66%
9/5/2012 $74.39 PP = $75.10
MB = $78.86
Most Recent Note - 10/8/2012 4:13:40 PM
Y - Consolidating just -4% off its 52-week high today. It remains below its "max buy" level after bullish action recently confirmed a technical buy signal. Near term support is at its 50 DMA line.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/14/2012. 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
RNF - NYSE
Rentech Nitrogen Ptnr Lp
CHEMICALS - Agricultural Chemicals  
$35.48 -0.72
-1.99%

$36.71

314,582
67.36% of 50 DAV
50 DAV is 467,000
$40.05
-11.41%
7/27/2012 $29.58 PP = $30.60
MB = $32.13
Most Recent Note - 10/9/2012 2:24:16 PM
G - Consolidating just above its 50 DMA line ($34.69) defining important near-term support after the previously noted upward trendline violation. Gains lacked volume conviction after it halted its slide.
>>> The latest Featured Stock Update with an annotated graph appeared on 10/4/2012. Click here.

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SWI - NYSE
Solarwinds Inc
COMPUTER SOFTWARE and SERVICES - Application Software  
$54.71 -1.54
-2.74%

$56.12

779,602
77.74% of 50 DAV
50 DAV is 1,002,800
$60.95
-10.24%
7/25/2012 $47.82 PP = $47.89
MB = $50.28
Most Recent Note - 10/9/2012 2:05:22 PM
G - Color code is changed to green while slumping under its 50 DMA line on below average volume for a 3rd consecutive loss, raising concerns. A subsequent violation of the 9/26/12 low ($53.78) could raise more serious concerns and trigger technical sell signals. A secondary buy point was explained in the latest FSU analysis along with a new annotated graph, but caution is advised unless strength returns and it rises back above its 50 DMA line promptly.
>>> The latest Featured Stock Update with an annotated graph appeared on 10/3/2012. Click here.

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TDG - NYSE
Transdigm Group Inc
AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services  
$145.98 -0.86
-0.59%

$147.88

274,343
65.77% of 50 DAV
50 DAV is 417,100
$152.62
-4.35%
8/16/2012 $132.23 PP = $136.44
MB = $143.26
Most Recent Note - 10/4/2012 7:24:04 PM
G - Rallied further above its "max buy" level to another new 52-week high with above average volume behind today's 3rd consecutive gain. Its 50 DMA line and prior highs define near-term support to watch in the $135-136 area on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/20/2012. Click here.

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ULTA - NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other  
$95.75 -2.42
-2.47%

$98.05

324,328
42.86% of 50 DAV
50 DAV is 756,700
$103.52
-7.51%
9/4/2012 $93.17 PP = $98.52
MB = $103.45
Most Recent Note - 10/9/2012 2:20:54 PM
Y - Slumping near recent lows and its 50 DMA line defining important near-term chart support. Its Relative Strength Rating has slumped to 80, the minimum rank for ideal buy candidates under the fact-based investment system. The latest FSU analysis discussed its waning Relative Strength under the headline "Relative Strength Line Did Not Provide Confirmation - Friday, October 05, 2012".
>>> The latest Featured Stock Update with an annotated graph appeared on 10/5/2012. Click here.

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ULTI - NASDAQ
Ultimate Software Group
INTERNET - Internet Software and Services  
$98.94 -1.96
-1.94%

$101.19

133,159
80.60% of 50 DAV
50 DAV is 165,200
$106.40
-7.01%
8/27/2012 $98.36 PP = $99.19
MB = $104.15
Most Recent Note - 10/5/2012 8:02:08 PM
Y - Erased its prior gain today, closing back below its "max buy" level and its color code is changed to yellow. Recent lows define initial support to watch along with its 50 DMA line in the $96 area where violations would raise concerns and trigger technical sell signals.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/27/2012. 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
VSI - NYSE
Vitamin Shoppe Inc
SPECIALTY RETAIL - Specialty Retail, Other  
$57.03 -1.15
-1.98%

$58.27

135,314
38.00% of 50 DAV
50 DAV is 356,100
$61.83
-7.76%
6/29/2012 $54.93 PP = $55.03
MB = $57.78
Most Recent Note - 10/9/2012 2:10:09 PM
G - Volume totals have been below average in recent weeks while consolidating near its 50 DMA line. It faces some resistance due to overhead supply up through the $60 area after recently stalling. Recent lows near $55 define the next important chart support below its short-term average.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/10/2012. Click here.

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WPI - NYSE
Watson Pharmaceuticals
DRUGS - Drugs - Generic  
$87.18 -0.65
-0.74%

$87.81

733,099
74.97% of 50 DAV
50 DAV is 977,900
$88.06
-1.00%
8/24/2012 $82.90 PP = $81.10
MB = $85.16
Most Recent Note - 10/9/2012 2:12:55 PM
G - Holding its ground this week with light volume totals after hitting new 52-week highs with gains on higher volume, It is extended from its prior base, and prior lows and its 50 DMA line in the $82 area define important support to watch on pullbacks.
>>> The latest Featured Stock Update with an annotated graph appeared on 9/28/2012. Click here.

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