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AFTER MARKET UPDATE - WEDNESDAY, DECEMBER 5TH, 2012
Previous After Market Report Next After Market Report >>>
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DOW |
+82.71 |
13,034.49 |
+0.64% |
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Volume |
759,434,820 |
+13% |
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Volume |
1,738,618,690 |
+2% |
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NASDAQ |
-22.99 |
2,973.70 |
-0.77% |
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Advancers |
1,573 |
50% |
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Advancers |
1,057 |
41% |
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S&P 500 |
+2.23 |
1,409.28 |
+0.16% |
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Decliners |
1,426 |
46% |
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Decliners |
1,381 |
54% |
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Russell 2000 |
-1.52 |
820.60 |
-0.18% |
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52 Wk Highs |
70 |
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52 Wk Highs |
51 |
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S&P 600 |
-1.30 |
461.54 |
-0.28% |
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52 Wk Lows |
24 |
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52 Wk Lows |
41 |
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Major Averages End Mixed as Tech Leader Drags Nasdaq Down
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The major averages finished mixed on Wednesday The Dow was up 82 points to 13,034 and the S&P 500 Index gained 2 points to 1,409. However, the tech-heavy Nasdaq Composite Index lost nearly 23 points to 2,973. Volume totals were reported slightly higher than the prior session on the Nasdaq exchange and on the NYSE. Advancing shares led decliners by a narrow margin on the NYSE, meanwhile decliners led advancers by almost 7-5 on the Nasdaq exchange. The total number of stocks hitting new 52-week highs outnumbered new 52-week lows on the NYSE and also on the Nasdaq exchange. There were 34 high-ranked companies from the CANSLIM.net Leaders List making new 52-week highs and appearing on the CANSLIM.net BreakOuts Page, down from the prior session total of 53 stocks. Any sustainable rally requires a healthy crop of companies hitting new 52-week highs, so it is important for leadership to remain present. There were gains for 5 of the 11 high-ranked companies currently included on the Featured Stocks Page.
After trading in a tight range for two days, markets pushed higher on Wednesday.. Optimism surrounding the looming fiscal cliff helped lift stocks. President Obama said an agreement on budget negotiations could be reached in a week and some Republicans joined a bipartisan call to break the impasse over higher taxes for wealthy Americans.
A round of economic data provided additional support. Ahead of Friday's non-farm payrolls number, the private sector created 118,000 jobs in November. In addition, the ISM's non-manufacturing index expanded at a faster than expected pace in November. Factory orders also topped expectations, rising for the second consecutive month in October.
Nearly all sectors finished in positive territory. Utility and financial shares led markets higher as Sempra Energy (SRE +3.02%) and Citigroup Inc (C +6.33%) rallied. Technology was the worst performing sector. Apple Inc's (AAPL -6.43%) largest decline in more than a year weighed on the Nasdaq as the tech-giant slumped.
In fixed-income, Treasuries were virtually unchanged as the 10-year note gained 3/32 to yield 1.59%.
The market direction (M criteria) is currently a "confirmed uptrend" and new buying efforts may be justified only in worthy high-ranked leaders. See the noteworthy companies included on the Featured Stocks Page.
Watch for an announcement via email concerning the next WEBCAST. The webcast will also be available via an updated link highlighted at the top of the Premium Member Homepage.
PICTURED: The Nasdaq Composite Index has recently encountered resistance at its downward sloping 50-day moving average (DMA) line and slumped back below its 200 DMA line again.
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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 Shares Showed Recent Resilience
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
The Broker/Dealer Index ($XBD +0.88%) and Bank Index ($BKX +1.67%) were influential gainers on Wednesday. The defensive Gold & Silver Index ($XAU -3.94%) was a standout decliner while slumping to lows it has not seen since August. The Retail Index ($RLX -0.28%) edged lower and small losses from the Internet Index ($IIX -0.61%), Networking Index ($NWX -0.04%), Biotechnology Index ($BTK -0.19%) and the Semiconductor Index ($SOX -0.15%) hurt the tech-heavy Nasdaq Composite Index The Healthcare Index ($HMO +0.15%) edged higher and modest gains in energy-related shares helped the Oil Services Index ($OSX +0.45%) and Integrated Oil Index ($XOI +0.57%) post small gains.
Charts courtesy www.stockcharts.com
PICTURED: The Bank Index ($BKX +1.67%) showed resilience after undercutting its 200-day moving average (DMA) line again recently. Financial shares are recognized as a reliable "leading indicator" so it will be important for this index to halt its slide and stay above that important long-term average, otherwise the broader market outlook may turn uglier.
| Oil Services |
$OSX |
220.97 |
+0.98 |
+0.45% |
+2.17% |
| Healthcare |
$HMO |
2,490.16 |
+3.71 |
+0.15% |
+9.14% |
| Integrated Oil |
$XOI |
1,212.03 |
+6.89 |
+0.57% |
-1.39% |
| Semiconductor |
$SOX |
374.46 |
-0.57 |
-0.15% |
+2.75% |
| Networking |
$NWX |
213.37 |
-0.08 |
-0.04% |
-0.83% |
| Internet |
$IIX |
318.00 |
-1.96 |
-0.61% |
+12.87% |
| Broker/Dealer |
$XBD |
87.54 |
+0.76 |
+0.88% |
+5.13% |
| Retail |
$RLX |
665.00 |
-1.90 |
-0.28% |
+27.10% |
| Gold & Silver |
$XAU |
160.39 |
-6.58 |
-3.94% |
-11.21% |
| Bank |
$BKX |
48.64 |
+0.80 |
+1.67% |
+23.51% |
| Biotech |
$BTK |
1,526.01 |
-2.86 |
-0.19% |
+39.82% |
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Fundamental and Technical Weakness Raising More Concerns
Kenneth J. Gruneisen - Passed the CAN SLIM® Master's Exam
G P Strategies Corp (GPX -$0.21 or -1.07% to $19.39) was noted after it recently negated its technical breakout and encountered distributional pressure. It finished in the lower half of its intra-day range with above average volume behind today's 4th consecutive loss while slumping further below its 50-day moving average (DMA) line. Its Earnings Per Share Rank (EPS) has slumped to 79, below the 80+ minimum guideline for buy candidates, faltering after the most recent report of earnings +0% on +12% sales revenues for the Sep '12 quarter, below the +25% minimum earnings guideline (C criteria) raised fundamental concerns. It will be dropped from the Featured Stocks list tonight. Disciplined investors may note its fundamental flaw coupled with weak technical action making a stronger fact-based argument in favor of selling.
Its last appearance in this FSU section was on 11/15/12 with an annotated graph under the headline, "Strong Despite Earnings Below +25% Guideline Raising Concerns." A downturn in FY '09 earnings was previously noted as a flaw concerning the A criteria, and its mediocre Group Relative Strength Rating was another concern noted with respect to the L criteria. Investors' odd are usually most favorable when choosing a stock with robust leadership in the same industry group. The number of top-rated funds owning its shares rose from 158 in Mar '12 to 173 in Sep '12, a slightly reassuring trend concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 still hints that its shares have been under accumulation during the past 50 days. Company management reportedly owns 25% of its shares, which keeps the directors keenly focused on building and maintaining shareholder value. Its small supply (S criteria) of 14.3 million shares in the public float is a favorable characteristic that was found in most of the market's greatest winners, however that can contribute to greater price volatility in the event of institutional buying or selling. Disciplined investors always limit losses if any stock falls more than -7% from their purchase price.
It made limited headway after the stock was long ago highlighted in yellow in the 6/29/12 mid-day report (read here) and noted - "It cleared a valid base earlier this week with volume-driven gains and no overhead supply remains. Quarterly earnings increases above the +25% guideline in the 8 latest quarterly comparisons through Dec '11 satisfy the C criteria. Recent cluster of Insider buying in May-Jun looks similar to that which was reported in Nov, Dec, and Jan as it rose toward and above prior resistance in the $14 area."
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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 |
CFNL
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NASDAQ
Cardinal Financial Corp
BANKING - Regional - Southeast Banks
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$15.73
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+0.03
0.19% |
$16.00
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221,444
114.50% of 50 DAV
50 DAV is 193,400
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$16.21
-2.96%
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12/3/2012
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$15.20
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PP = $16.31
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MB = $17.13
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Most Recent Note - 12/3/2012 11:57:33 AM
Y - Color code is changed to yellow with a new pivot point cited based on its 11/06/12 high while still building on a short base-on-base pattern. Recently consolidating above prior highs and its 50 DMA line defining near-term chart support where violations may trigger technical sell signals. Volume-driven gains above its pivot point may trigger a new (or add-on) technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 11/20/2012. Click here.
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C
A N
S L
I M
|
CMCSA
-
NASDAQ
Comcast Corp Cl A
MEDIA - CATV Systems
|
$36.88
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-0.32
-0.86% |
$37.29
|
11,378,355
92.80% of 50 DAV
50 DAV is 12,261,300
|
$37.96
-2.85%
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12/3/2012
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$37.08
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PP = $38.06
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MB = $39.96
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Most Recent Note - 12/3/2012 4:59:48 PM
Y - Color code is changed to yellow with new pivot point cited based on its 11/02/12 high plus 10 cents while currently building on a short flat base. Subsequent volume-driven gains above the pivot point may trigger a new (or add-on) technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 11/19/2012. Click here.
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C
A N
S L
I M
|
GPX
-
NYSE
G P Strategies Corp
DIVERSIFIED SERVICES - Education and Training Services
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$19.39
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-0.21
-1.07% |
$19.92
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88,143
146.91% of 50 DAV
50 DAV is 60,000
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$21.44
-9.56%
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10/8/2012
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$20.00
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PP = $20.77
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MB = $21.81
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Most Recent Note - 12/5/2012 5:24:24 PM
Recently negated the prior technical breakout and encountered distributional pressure while undercutting its 50 DMA line with above average volume behind today's 4th consecutive loss. Based on fundamental and technical concerns it will be dropped from the Featured Stocks list tonight. See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 12/5/2012. Click here.
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C
A N
S L
I M
|
LKQ
-
NASDAQ
L K Q Corp
WHOLESALE - Auto Parts
|
$21.80
|
+0.23
1.07% |
$21.91
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1,378,035
62.88% of 50 DAV
50 DAV is 2,191,600
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$22.29
-2.18%
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8/9/2012
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$18.97
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PP = $18.72
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MB = $19.66
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Most Recent Note - 12/4/2012 1:50:29 PM
G - Churning above average volume in recent weeks without making meaningful price progress. Encountering resistance after a worrisome "negative reversal" and finish near the session low on 11/26/12 followed by additional losses on above average volume. Results below the +25% minimum earnings guideline (C criteria) for Sep '12 recently raised fundamental concerns.
>>> The latest Featured Stock Update with an annotated graph appeared on 11/30/2012. Click here.
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C
A N
S L
I M
|
MIDD
-
NASDAQ
Middleby Corp
MANUFACTURING - Diversified Machinery
|
$129.85
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+1.63
1.27% |
$129.99
|
89,789
123.34% of 50 DAV
50 DAV is 72,800
|
$128.96
0.69%
|
10/8/2012
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$118.46
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PP = $122.67
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MB = $128.80
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Most Recent Note - 12/3/2012 6:18:44 PM
Y - Still consolidating in a tight trading range near its all-time high. Recently reported earnings +23% on +18% sales for the Sep '12 quarter, below the +25% minimum earnings guideline (C criteria), raising fundamental concerns.
>>> The latest Featured Stock Update with an annotated graph appeared on 11/16/2012. Click here.
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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 |
RAX
-
NYSE
Rackspace Hosting Inc
INTERNET - Internet Software and; Services
|
$66.81
|
+0.22
0.33% |
$67.60
|
1,831,324
114.09% of 50 DAV
50 DAV is 1,605,100
|
$70.00
-4.56%
|
11/26/2012
|
$66.26
|
PP = $67.18
|
|
MB = $70.54
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Most Recent Note - 12/3/2012 6:36:05 PM
Y - Encountered mild distributional pressure today. Confirming gains above its pivot point with at least +40% above average volume would be a welcome reassurance. Disciplined investors may be wise to use a tactic called "pyramiding" to allow the market action to dictate their weighting in new buys while always limiting losses by selling if any stock ever falls more than -7% from their purchase price.
>>> The latest Featured Stock Update with an annotated graph appeared on 11/27/2012. Click here.
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C
A N
S L
I M
|
RGR
-
NYSE
Sturm Ruger & Co Inc
CONSUMER DURABLES - Sporting Goods
|
$52.52
|
-1.91
-3.51% |
$54.79
|
1,030,288
210.91% of 50 DAV
50 DAV is 488,500
|
$60.11
-12.63%
|
11/20/2012
|
$52.23
|
PP = $52.65
|
|
MB = $55.28
|
Most Recent Note - 12/5/2012 12:17:21 PM
G - Trading lower as stock goes ex-dividend today for its $4.50/sh special dividend. Previously noted - "It is extended from its previously noted base and may form a high handle on its larger 7-month cup shaped base, however the minimum length for a proper handle is 1 week for it to be recognized as a valid cup-with-handle base. Prior highs near $52 define initial chart support to watch where violations may trigger technical sell signals."
>>> The latest Featured Stock Update with an annotated graph appeared on 11/21/2012. Click here.
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C
A N
S L
I M
|
RNF
-
NYSE
Rentech Nitrogen Ptnr Lp
CHEMICALS - Agricultural Chemicals
|
$38.50
|
-0.38
-0.98% |
$39.67
|
231,888
60.62% of 50 DAV
50 DAV is 382,500
|
$41.15
-6.44%
|
11/1/2012
|
$39.11
|
PP = $40.15
|
|
MB = $42.16
|
Most Recent Note - 12/4/2012 1:46:03 PM
Y - It is perched within close striking distance of its 52-week high. Recent gains with below average volume indicate lackluster buying demand from the institutional crowd. Disciplined investors may watch for volume-driven gains for a new high close to trigger a technical buy signal.
>>> The latest Featured Stock Update with an annotated graph appeared on 11/26/2012. Click here.
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C
A N
S L
I M
|
ULTA
-
NASDAQ
Ulta Salon Cosm & Frag
SPECIALTY RETAIL - Specialty Retail, Other
|
$100.19
|
-0.19
-0.19% |
$100.70
|
676,794
91.20% of 50 DAV
50 DAV is 742,100
|
$103.52
-3.22%
|
12/4/2012
|
$100.29
|
PP = $103.62
|
|
MB = $108.80
|
Most Recent Note - 12/4/2012 5:26:19 PM
Y - Perched within close striking distance of its 52-week high following a considerable gap up gain on 11/30/12 with heavy volume. Color code was changed to yellow with new pivot point based on its 9/07/12 high plus 10 cents. Disciplined investors will watch for volume-driven gains above the pivot point to trigger a new technical buy signal. See latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 12/4/2012. Click here.
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C
A N
S L
I M
|
VSI
-
NYSE
Vitamin Shoppe Inc
SPECIALTY RETAIL - Specialty Retail, Other
|
$57.88
|
+0.32
0.56% |
$58.40
|
210,535
83.85% of 50 DAV
50 DAV is 251,100
|
$61.89
-6.48%
|
12/3/2012
|
$59.06
|
PP = $61.99
|
|
MB = $65.09
|
Most Recent Note - 12/4/2012 11:46:25 AM
G -Violated its 50 DMA line today, encountering distributional pressure, and its color code is changed to green. The $61 area has been a stubborn resistance level in recent months. See the latest FSU analysis for more details and a new annotated graph.
>>> The latest Featured Stock Update with an annotated graph appeared on 12/3/2012. Click here.
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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 |
WPI
-
NYSE
Watson Pharmaceuticals
DRUGS - Drugs - Generic
|
$88.07
|
-0.23
-0.26% |
$88.74
|
839,784
106.73% of 50 DAV
50 DAV is 786,800
|
$90.00
-2.14%
|
8/24/2012
|
$82.90
|
PP = $81.10
|
|
MB = $85.16
|
Most Recent Note - 12/4/2012 1:48:03 PM
G - Consolidating within close striking distance of its 52-week high today with very little resistance remaining due to overhead supply. Quarterly comparisons for sales revenues and earnings increases have shown sequential deceleration in its growth rate raising some fundamental concerns, as recently noted.
>>> The latest Featured Stock Update with an annotated graph appeared on 11/23/2012. Click here.
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C
A N
S L
I M
|
|
|
|
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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