Major Averages Opened With Gains But Closed With Losses
The major US equities market indices ended in the red after a lower-than-expected manufacturing report and higher stockpiles of oil sparked concern the economy has fallen into a recession. Volume totals reported were lower on the NYSE and almost even on the Nasdaq exchange. There were 19 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net
BreakOuts Page, higher than the 14 stocks that appeared on the prior session. It would be a welcome improvement in the market's health to see the number of 52-week highs begin expanding, however new lows have solidly outnumbered new 52-week highs on both exchanges in recent weeks. As mentioned countless times before, these totals must improve for any rally to have legs. We would like to thank all of you that attended CANSLIM.net's 1st Quarter 2008 Webcast Wednesday night. For those of you that missed the event Click here or visit: http://www.canslim.net/webcast/ to view the On-Demand video. During the Webcast we take an in depth look at the current market environment, the February 13th follow-through day, the Fed's impact on the market, leading and lagging sectors, and we cover in detail some timely high-ranked buy candidates with strong characteristics.
Stocks opened higher but closed lower as investors digested the latest round of economic data. Stocks sold off after a larger-than-expected decline in the Federal Reserve Bank of Philadelphia's general economic index suggested the manufacturing sector remains sluggish. The Philadelphia Fed's index fell to -24 in February from -20.9 the previous month. This was lower than the Street's forecast of a -10 reading. Negative readings signal contraction. Investors also dumped stocks after the Conference Board's gauge of leading US economic indicators fell -0.1%. The Conference Board's index attempts to measure the direction of the economy over the next three to six months. Last month's drop in the index brings the decline for the last six months to -2%, which the NY-based firm said can be one of the "reasonable criteria for a recession warning."
Crude oil snapped its winning streak and fell -1.47% after the Energy Department said crude inventories boomed. The Energy Department said inventory rose by +4.2 million barrels to the highest since November. Crude oil enjoyed sizeable gains in recent sessions and hit a new all-time high of $101.32 a barrel on Wednesday after signs OPEC may cut output. One of the catalysts of higher energy prices in recent years has been an inordinately tight supply/demand equation. Therefore, it is not unreasonable for crude to sell off on news that supplies are adequate.
PICTURED: The NYSE Composite negatively reversed on Thursday as stocks sold off in afternoon trade.
Adam Sarhan, Contributing
Writer, www.CANSLIM.net
Adam Sarhan is a Registered Representative and Vice President of Investments with Source Capital Group (Member FINRA,SIPC) and offers a suite of services for individual and institutional investors. Mr. Sarhan earned a BA and MA in Political Science from Florida Atlantic University and he is well versed in capital markets. In addition, Mr. Sarhan completed the CAN SLIM® Masters Program presented by Investor's Business Daily. Investors with a significant financial interest may inquire about opening an account by calling the office locally at 954-785-1990 or 1-888-237-8399 or emailing to asarhan@sourcegrp.com. Further information is always available upon request. Contact us if you know anyone that may have an interest in receiving this or any of our other products. asarhan@sourcegrp.com
The recommendations made by CAN SLIM®
certified individuals are their own and may not be attributed to
the CAN SLIM®
Certification Program, William O'Neil & Co., Investor's Business
Daily or their affiliates. The CAN SLIM®
Certification indicates only that the individual has
successfully completed the CAN SLIM®
Certification Program. CAN SLIM®,
William O'Neil & Co., Investor's Business Daily and any of their
affiliates are in no way responsible for any loss or damage
caused as a result of the services provided by these
individuals.
Comments contained in the body of this report are technical
opinions only and are not necessarily those of Source Capital
Group, Inc. 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. Source Capital Group, Inc. is a FIRNA/SIPC
member firm.
INDUSTRY
GROUP
WATCH
The commentary
and table below will show you important industry and/or
sector information through today's close. Tracking
certain areas or sectors for leadership characteristics
helps you to find individual stocks with the "L" in
CAN SLIM®
- Leaders in a leading group
Energy, Financial, Retail, and Healthcare Groups Led Decliners
The Oil Services ($OSX -2.82%) and Integrated Oil ($XOI -1.96%) indexes fell as crude oil prices eased slightly. Financial shares backpedaled as the Bank ($BKX -1.90%) and Broker/Dealer ($XBD -1.41%) indexes lost ground. The Retail Index ($RLX -1.88%) fell, also weighing on the major market averages. Tech shares showed mostly modest losses as the Networking ($NWX -0.85%), Semiconductor ($SOX -0.28%), and Internet ($DOT -0.22%) indexes each fell less than -1%. However, the Biotechnology Index ($BTK -1.54%) was weaker along with the Healthcare ($HMO -1.30%) group. Meanwhile, the Gold & Silver Index ($XAU +0.53%) was a bit of a standout by posting a small gain while gold prices hit new highs.
PICTURED: The Retail Index ($RLX -1.88%) continues its downward trend, and it slumped today after encountering resistance at its 50-day moving average (DMA) line.
- by Kenneth J.
Gruneisen, Founder & Contributing Writer,
www.CANSLIM.net
The stocks below have
been recently featured by CANSLIM.net. Our experts
monitor these stocks and post updates on noteworthy
action here.
Completed Head And Shoulders Pattern Triggers Sell Signal
One of the critical characteristics of successful investing is knowing when to sell. Investors are best served when they buy based on the combination of strong fundamentals and technicals, then sell based on the technicals. The reason is because fundamentals often tend to lag a stock's technical condition and come to light later to help explain the technical chart action after the fact.
Team Inc (TISI -$3.28 or -13.56% to $27.46) plunged below critical support of its prior chart lows, triggering technical sell signals as volume surged behind the damaging loss. CANSLIM.net's ongoing notes have repeatedly mentioned the fact that this high-ranked leader was threatening to trace out an ominous head-and-shoulders pattern. Remember that stocks should be sold based upon early signs of technical weakness, not necessarily on fundamental deterioration. TISI still sports a strong Earnings Per Share (EPS) rating of 94 after posting healthy increases in the earnings and sales department in recent quarters. However, history has many times proven that a company's fundamentals tend to very often be a lagging indicator, revealing disappointments weeks or months after the price and volume action has already turned negative. This stock was first featured on Tuesday, December 18, 2007 in the CANSLIM.net Mid-Day BreakOuts Report (read here) with a $34.83 pivot point and a $36.57 maximum buy price. Initially, the stock rallied nearly 13%, but then it started encountering heavy distributional action in January. After its 50-day moving average (DMA) violation on 1/17/08 it was noted as follows - "Its second consecutive loss on above average volume pressured it under its 50 DMA line today and further below its latest pivot point, raising more concerns." Then it encountered resistance when it rallied back up to that important short-term average. The stock is currently testing its longer-term 200 DMA line which is an area where institutional investors often tend to support a reasonably healthy stock. However, if this stock is unable to find support at its 200 DMA line and continues to fall, then this candidate will be dropped from the CANSLIM.net Featured Stocks list.
- by
Kenneth J. Gruneisen, Founder & Contributing Writer,
www.CANSLIM.net
Kenneth J. Gruneisen
- Has successfully completed the CAN SLIM® Certification Program. Mr. Gruneisen is a Registered Principal and manages a Source Capital Group Member FINRA,SIPC) branch office offering personalized assistance. Investors with a significant financial interest in equities may inquire about opening an account by calling the office locally at (954) 785-1990 or 1-888-237-8399 or emailing to
kgruneisen@sourcegrp.com Further
information is always available upon request. Contact us if you know anyone that may have an interest in receiving this or any of our other reports.
The recommendations made by CAN SLIM® certified individuals are their own and may not be attributed to the CAN SLIM®
Certification Program, William O'Neil & Co., Investor's Business Daily or their affiliates. The CAN SLIM® Certification indicates only that the individual has successfully completed the CAN SLIM® Certification Program. CAN SLIM®, William O'Neil & Co., Investor's Business Daily and any of their affiliates are in no way responsible for any loss or damage caused as a result of the services provided by these individuals.
Comments contained in the body of this report
are technical opinions only and are not
necessarily those of Source Capital Group, Inc.
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.
Source Capital Group, Inc. is a FINRA/SIPC
member firm.
Y -
Today's better buy candidates
based on the
CAN SLIM®
investment system and highlighted by our staff of
experts.
G -
Previously featured in this report as yellow and now may
no longer be buyable under the guidelines.
NOTE :
ADDED FEATURES: Click the company name to view each
selection's CANSLIM.net Stock Profile including a full summary
of recent and previous analysis by our experts. On the
CANSLIM.net Featured Stocks Page you can now click the
column headings to alternately sort all currently Featured
Stocks in ascending/descending order.
Denotes link to Daily Graphs Online®
Last Updated Thursday, February 21, 2008 at 4:39:00 PM by Kenneth Gruneisen and the expert staff at CANSLIM.net
Most Recent Note - 2/21/2008 6:05:40 PM
Y - Pulled back for a 5th consecutive day, consolidating from all-time highs it recently reached with gains on above average volume after reporting strong earnings and guidance. It has fallen back under its max buy level in a healthy fashion, so its color code is changed to yellow again. See the Featured Stock Update section of the 2/05/08 CANSLIM.net After Market Update for recent analysis and an annotated graph as it pulled back under its prior chart highs (read
here). This high-ranked gaming issue was featured in the 8/26/07 Special Report titled '7 Stocks That Should Now Be On Your Watch List' (read
here). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 5:48:44 PM
Y - Considerable loss today on more than twice average volume led to a violation of its 50 DMA line and close near its 200 DMA line, an important long-term average. After hitting a new 52-week high on strong earnings news and guidance it negatively reversed on 2/14/08. The action erased its early gains above resistance in the $26 area, previously noted as a sign it was encountering distributional selling pressure. The latest weakness makes it appear less likely to produce a technical buy signal by clearing its pivot point. See the Featured Stock Update section of the 2/12/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Its latest strong quarterly report showed accelerating sales revenues and earnings growth. Featured in the May 2007 edition of the CANSLIM.net News (read here) while it was trading above its pivot point of $20.37 and below its maximum buy price of $21.38. View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 5:47:02 PM
Y - Featured in today's CANSLIM.net Mid-Day BreakOuts Report (read
here). Gapped up and briefly reached a new all-time high with gains on above average volume before pulling back considerably off its highs. Very little resistance now remains due to the fact it is less than -1% under its all-time high after blasting up from its 50 DMA line on 2/20/08 with heavy volume gains. It had a steady uptrend for many months in 2007 where it rested above support at its 50 DMA line, but during the broader market's correction in January it violated its 50 DMA line and tested support near its 200 DMA line. It has shown steady annual earnings growth and its quarterly earnings increases have been borderline, but not especially impressive (for the C and A criteria) in respect to the system's +25% guideline. View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 4:33:30 PM
Y - Fifth consecutive loss, and during the slide it violated its 50 DMA line, raising concerns. Mostly trading quiet volume for the past couple of weeks while hovering within close striking distance of prior chart highs in the $68 area. See the Featured Stock Update section of the 2/07/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). This high-ranked leader recently recovered back above its 50 & 200 DMA lines to challenge prior chart highs in the $68 area. Featured in the 1/31/08 CANSLIM.net Mid-Day BreakOuts Report (read
here). Hails from the high-ranked Containers group which is high on the Industry Groups list, which is reassuring concerning the L criteria. It was previously dropped from the Featured Stocks list after it failed to make headway and weakened following its appearance in the 12/21/07 CANSLIM.net Mid-Day BreakOuts Report (read
here). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 4:28:11 PM
Y - Considerable loss today on light volume, falling further below its October high close and nearing important support at its 50 DMA line. Number of top rated funds owning an interest rose from 39 in Mar '07 to 46 in Dec '07, helping satisfy the I criteria. First featured in the 1/31/08 CANSLIM.net Mid-Day BreakOuts Report (read
here) when considerable gains backed by very heavy volume helped it reach a new all-time high. The company had just reported very strong quarterly earnings and sales revenues increases. Its annual earnings growth rates (the A criteria) has been steady but not especially impressive, and sales revenue growth had been below the +25% guidelines up until its latest quarter ended Dec 31, 2007, which showed a solid +37% increase (good C criteria). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Symbol/Exchange
Company Name
Industry Group
Last
Chg.
Vol (% DAV)
Date when First Featured
Price when First Featured
Latest Pivot Point
Featured
Status
Resources
Latest Max Buy Price
BABY- NASDAQ
Natus Medical Inc
HEALTH SERVICES - Medical Appliances & Equipment
Most Recent Note - 2/21/2008 4:18:44 PM
Y - Third consecutive day of gains on above average volume, rising from support at its 50 DMA line to close less than -5% off its 52-week high. Its impressive 2/12/08 gap up for a considerable gain on heavy volume came on news the FDA gave approval to resume US shipments of its Olympic Cool-Cap device. See the Featured Stock Update section of the 2/11/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). First featured in the 12/21/07 CANSLIM.net Mid-Day BreakOuts Report (read
here). The Featured Stock Update section of the 12/21/07 CANSLIM.net After Market Update included detailed analysis and an annotated graph after it triggered a technical buy signal, rising on heavy volume to new highs from a flat base 8 months long (read
here). High ranked company in the Medical-Systems/Equip Group which is ranked in the top quartile of the Industry Group Rankings (1-197), satisfying the L criteria. Strong sales revenues and earnings growth and high ranks. View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 4:11:45 PM
Y - Gapped up today and rallied to a new high close with a considerable gain on volume +47% above average, just under the minimum +50% above average volume guideline for proper buy candidates. Within close striking distance of a new 52-week high after hovering quietly above its 50 DMA line in recent weeks. First featured in the February 2008 CANSLIM.net News with detailed technical information and an annotated chart (read
here). Strong leader in the high-ranked Metal Ores - gold/silver group. View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008
Y - Featured in today's CANSLIM.net Mid-Day BreakOuts Report as early gains on high volume had it nearly challenging prior chart highs in the $47 area (read
here). It still faces some resistance. Recently found support near its 200 DMA line. This high-ranked leader has a small supply of shares outstanding. Earnings and sales revenues increases have improved in recent quarterly comparisons, and both were especially strong in the just announced quarter ended December 31, 2007. It has a good annual earnings growth history (good A criteria). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 6:05:11 PM
G - Considerable loss on above average volume led to a violation of key chart support and triggered technical sell signals. It dove under its 200 DMA line today after recently encountering resistance at its 50 DMA line. As previously noted, a "breach of its latest lows in the $27-28 area would complete a bearish head-and-shoulders top pattern and trigger additional technical sell signals." See the Featured Stock Update section of this evening's CANSLIM.net After Market Update for analysis and an annotated graph (read
here). First featured in the 12/18/07 CANSLIM.net Mid-Day BreakOuts Report (read
here). Strong quarterly sales revenues and earnings increases and good annual earnings growth history. View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 6:04:32 PM
G - Loss on below average volume today. See the Featured Stock Update section of the 2/19/08 CANSLIM.net After Market Update for analysis and an annotated graph after it gapped up for a solid gain, rallying toward recent chart highs in the $45-46 area, with little resistance remaining due to overhead supply (read
here). Recent support arrived above its 50 and 200 DMA lines, where subsequent violations would raise more concerns and trigger technical sell signals. Damaging losses in January quickly negated its latest breakout. Featured in the 1/4/2008 CANSLIM.net Mid-Day BreakOuts Report
(read here) at $43.46. Previously featured with a pivot point of $41.79 (6/20 high of $41.69 + $.10) but it did not trigger a proper technical buy signal and went through a tough correction for at least 4 months before recovering, making this an example of why patience is so important. Strong A criteria based on great earnings growth history. This company's earnings and sales growth rate decelerated in recent quarterly comparisons. It had a very bumpy ride while more than doubling since it was first featured in the 7/25/05 CANSLIM.net Mid-Day BreakOuts Report (read
here). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Symbol/Exchange
Company Name
Industry Group
Last
Chg.
Vol (% DAV)
Date when First Featured
Price when First Featured
Latest Pivot Point
Featured
Status
Resources
Latest Max Buy Price
SMTS- NASDAQ
Somanetics Corp
HEALTH SERVICES - Medical Appliances & Equipment
Most Recent Note - 2/21/2008 6:03:08 PM
G - Loss today on above average volume, but it closed just -4.4% off its 52-week high. Its 50 DMA line and prior chart highs near $24 are key chart support levels while it is now extended above its max buy level. The Featured Stock Update section of the 1/17/08 CANSLIM.net After Market Update last included detailed analysis and an annotated graph as it fell under its 50 DMA line (read
here). This high-ranked company, with a good annual earnings history (nice A), blasted back above its 50 DMA line on 1/23/08 for a considerable gain on the heaviest volume up day since June 14th, 2007, then continued rallying. Company hails from the Medical-Systems/Equip Group which is ranked in the top quartile of the Industry Group Rankings (1-197), satisfying the L criteria. Featured in the 12/14/07 CANSLIM.net Mid-Day BreakOuts Report (read
here). Earnings were greater than +25% in 3 of the 4 most recent quarterly comparisons. Small supply of shares in float and thin trading may contribute to volatility. View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 6:01:46 PM
G - Negatively reversed for a small loss on light volume after trading a penny above its recent highs today. Held its ground above earlier chart highs for the past 4 weeks since a considerable gain on 1/24/08 with more than 6 times average volume for new all-time highs. Recently announced a pending 2:1 stock split. See the Featured Stock Update section of the 1/24/08 CANSLIM.net After Market Update for detailed analysis and an annotated graph (read
here). First featured with a pivot point of $43.64 in the August '07 CANSLIM.net News (read
here). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 5:59:18 PM
G - Loss on light volume after hitting a new 52-week high on 2/20/08 with a gain on heavy volume. Gapped up for a considerable 2/15/08 gain on heavy volume, blasting above resistance at its 50 DMA line to quickly challenge and rise above prior chart highs in the $120 area after reporting solid Q4 earnings and a favorable outlook. See the Featured Stock Update section of the 2/15/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Prompt support arrived after a recent breach of its October 2007 highs but it struggled under its 50 DMA line for weeks. First featured in the 11/09/07 CANSLIM.net Mid-Day BreakOuts Report with an annotated graph (read
here). Sales revenues improved by +29% in the latest quarter, and its earnings growth rate has been stellar - satisfying the C and A criteria. View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 4:53:44 PM
G - Quietly hovering above support at its 50 DMA line after recently challenging prior chart highs in the $220-227 area. Posted a considerable gain on 1/31/08 after a gap up above its 50 DMA line when reporting stronger than expected earnings in the latest quarter ended Dec 31, 2007. See the Featured Stock Update section of the 1/22/08 CANSLIM.net After Market Update for recent analysis including an annotated graph (read
here). Near its 200 DMA line and previously noted chart support at the $174 level it found support. Traded up as much as +22% since featured in the November 2007 issue of CANSLIM.net News (read
here). Number of top-rated funds owning an interest rose from 92 in Dec '06 to 230 in Dec '07, a strong sign of institutional buying demand (the I criteria). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
ICLR- NASDAQ
Icon Plc Ads
DIVERSIFIED SERVICES - Research Services
Most Recent Note - 2/21/2008 4:46:05 PM
G - Gapped up today from a base-on-base type pattern after its latest strong earnings report. Jumped immediately from support at its 50 DMA line to hit a new all-time high (the N criteria), with heavy volume behind its considerable gain indicative of serious institutional buying demand (the I criteria). Color code is changed to green as it has risen way above its max-buy level now. See the Featured Stock Update section of the 2/13/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Recently found support near an upward trendline and promptly repaired its 50 DMA line violation. Its gain on 12/21/07 with volume +87% above average helped it confirm a technical buy signal by rising above its latest pivot point identified on 11/30/07. High ranked company in the Medical/Dental-Services Group which is ranked in the top quartile of the Industry Group Rankings (1-197), satisfying the L criteria. First featured in yellow at $45.50 in 4/24/2007 CANSLIM.net Mid-Day Breakouts Report (read
here). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 4:30:47 PM
G - Negatively reversed today for another loss on above average volume. See the Featured Stock Update section of the 2/20/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Deterioration has raised concerns as it formed a steady downward sloping trend line for the past 7 weeks, and it has been encountering resistance while it has been stuck trading below its 50 DMA line for the past month since concerns were raised by its 1/17/08 violation. See the Featured Stock Update section of the 1/29/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). A previously noted gap down on 1/07/08 revealed that it was encountering resistance in the $63 area. Featured in the 12/28/07 CANSLIM.net Mid-Day BreakOuts Report (read
here). Increasing institutional ownership, with the number of top rated funds owning shares rising from 96 in Dec '06 to 159 in Dec '07, satisfying the I criteria. Earnings and sales revenues have improved above guidelines in the 2 most recent quarterly financial reports. Completed an additional share offering on 10/03/07. View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 4:23:06 PM
G - Ended near its session low, still hovering quietly just -4.1% off its all-time high. Important support lies at its 50 DMA line. High-ranked company in the Medical-Systems/Equip Group in the top quartile of the Industry Group Rankings (1-197), satisfying the L criteria. Traded up as much as +44% since featured in yellow in the 9/14/07 CANSLIM.net Mid-Day Breakouts Report with an annotated graph (read
here) as it was rising out of an 8-week base on more than twice its average daily volume. Further details provided in a CANSLIM.net Stock Bulletin on 9/16/07 with a headline 'High-Ranked Chinese Medical Firm Showing Strength' (read
here). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
AMED- NASDAQ
Amedisys Inc
HEALTH SERVICES - Home Health Care
Most Recent Note - 2/21/2008 4:07:55 PM
G - Gapped up on 2/20/08 rising above its 50 DMA line after an analyst upgrade. Gapped up on 2/19/08 and rallied for a considerable gain on above average volume after the company said it will buy TLC Health Care Services Inc. for $395 million in cash to expand its care delivery network. A breach of recent chart lows near $42 would be an ominous technical sell signal as it would complete a bearish head-and-shoulders pattern. Support may be expected near its August-October highs and 200 DMA line in the $40 area. To release its financial results for the quarter ended December 31, 2007 pre-market on Wednesday, February 27, 2008. See the Featured Stock Update section of the 1/31/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). A gap down on 1/22/08 and considerable losses on heavy volume in recent weeks have raised concerns. It has struggled ever since its negative reversal on 1/17/08 for a loss on above average volume (after early gains put it in position for a possible new all-time high close). High ranked company in the Medical-Outpnt/Hm Care Group which is ranked in the top quartile of the Industry Group Rankings (1-197), satisfying the L criteria. See the Featured Stock Update section of the 11/13/07 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
Most Recent Note - 2/21/2008 3:57:56 PM
G - Considerable loss today on above average volume led to a violation of support at its 50 DMA line, triggering a technical sell signal. It appears less likely to reach a technical breakout above its 2/12/08 high for the near term, since overhead supply is likely to hinder its upward price progress. Color code is changed to green since recent deterioration has pressured it from its highs. Signs of weakness make it a less compelling buy candidate. See the Featured Stock Update section of the 2/08/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). It positively reversed on 1/22/08 and bounced promptly at the previously noted support levels to watch - its 50 DMA line and earlier chart highs in the $9.50-10.00 range. First featured in yellow when it broke out above $10 on high volume, meeting the screening criteria in the 12/19/07 CANSLIM.net Mid-Day BreakOuts Report (read
here). View all notes |
Alert
me of new notes |
CANSLIM.net Company
Profile
ABBREVIATION KEY
L= Leader | ET = Extended | BO = Break Out (new) | BV = Big
Volume | F = Fundamentals C = Current Quarterly Earnings
Comparisons | A = Annual Earnings Comparisons | S = Shares
Outstanding | I = Institutional Ownership | PP = Pivot Point |
MB = Maximum Buy Price Under the Guidelines | DGO = Daily Graphs
Online®
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. CANSLIM.net 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.
This report is a service
available only to active CANSLIM.net StockNews Members. You may opt-out
of receiving report notifications at any time. Questions or comments
may be submitted by writing to CANSLIM.net 665 S.E. 10 Street, Suite 201 Deerfield Beach, FL 33441-5634 or by calling 1-800-965-8307 or 954-785-1121.
TELL-a-FRIEND about CANSLIM.net - if you know someone who might
appreciate this report or find the features on our website useful.
As CANSLIM.net's subscriber base grows, we are able to offer more great
resources to help you become a more successful investor.
We appreciate any feedback members may wish to send via the inquiry
form
here.
The recommendations made by CAN SLIM® Certified individuals are
their own and may not be attributed to the CAN SLIM® Certification
Program, William O'Neil + Co., Investor's Business Daily or their affiliates.
The CAN SLIM® Certification indicates only that the individual has
successfully completed the CAN SLIM® Certification Program. CAN SLIM®,
William O'Neil + Co., Investor's Business Daily and any of their affiliates
are in no way responsible for any loss or damage caused as a result of the services
provided by these individuals.
Adam Sarhan is a Registered Representative and Vice President of Investments with Source Capital Group (Member FINRA,SIPC) and offers a suite of services for individual and institutional investors. Mr. Sarhan earned a BA and MA in Political Science from Florida Atlantic University and he is well versed in capital markets. In addition, Mr. Sarhan completed the CAN SLIM® Masters Program presented by Investor's Business Daily. Investors with a significant financial interest may inquire about opening an account by calling the office locally at 954-785-1990 or 1-888-237-8399 or emailing to asarhan@sourcegrp.com. Further information is always available upon request. Contact us if you know anyone that may have an interest in receiving this or any of our other products.
Kenneth J. Gruneisen
- Has successfully completed the CAN SLIM® Certification Program. Mr. Gruneisen is a Registered Principal and manages a Source Capital Group Member FINRA,SIPC) branch office offering personalized assistance. Investors with a significant financial interest in equities may inquire about opening an account by calling the office locally at (954) 785-1990 or 1-888-237-8399 or emailing to 
