Dow Jones Industrial Average Produces Follow Through Gains
The major averages surged on Thursday, as the Dow Jones Industrial Average scored a follow-through day which confirmed the market's latest rally attempt. The benchmark S&P 500 Index ended its most volatile week in 70 years, according to an S&P study of daily price swings in the S&P 500. The index has advanced or declined 1% or more on 28 days this year, which is more than half the trading sessions in 2008 and the highest ratio since 1938. Volume totals exploded on both exchanges behind Thursday's widespread gains, largely due to the quadruple witching options expiration process which occurs at the end of each quarter. Advancers led decliners by nearly 3-to-1 ratio on the NYSE and by nearly a 2-to-1 ratio on the Nasdaq exchange. However, there were only 8 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net
BreakOuts Page. That total was lower than the 15 stocks that appeared on the prior session, and still a far cry from a healthy or robust level of leadership. Once again, new 52-week lows solidly trumped new 52-week highs on both the Nasdaq exchange and the NYSE.
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On Thursday the Dow Jones Industrial Average surged +2.16% with heavier volume than the prior session, which, on the eighth day of its current rally attempt, helped it score a follow-through day. On March 11, 2008 all of the major averages began a new rally attempt when the Dow surged +416 points - its 5th largest single-day advance in history! Less than a week later, on March 17, 2008 each of the major averages, except for the Dow Industrials, flushed out below their March 11th lows, which effectively ended that rally attempt. However, due to the fact that the Dow Jones Industrial Average avoided a violation of its March 11th low, technically, the blue chip index was still in a legitimate rally attempt. On March 18, 2008 the bulls returned and sent the major averages soaring, sending the Dow to enjoy a gain of +420 points, which was its 4th largest advance on record. However, volume, a critical component of institutional demand, was lighter than the prior session, which prevented the Dow Industrials from producing a sufficient follow-through day. Finally, on Thursday, March 20th, the blue chip index vaulted +2.16% on very heavy volume and the much anticipated follow-through day occurred. Remember that there are three components needed in order for the market to produce a solid follow-through day: a price gain of at least +1.7%, with volume heavier than the prior session, along with a healthy batch of leadership that appears. At this point, a small batch of high-ranked stocks have been able to break out of sound bases, which helps meet this criteria. Looking forward, ideally, one would like to see this number increase as the major averages continue to rally.
It has been repeatedly noted in numerous CANSLIM.net reports that the market is in the process of exhibiting similar behavior as prior market bottoms. Perhaps, the most important characteristic has been the enormous amount of volatility we have seen in recent weeks as the market remains perched slightly above support. Here are several important events that tend to correspond with market bottoms and were discussed in prior CANSLIM.net reports: large price swings as the bulls manage to defend support (i.e. churning near the lows), several "extreme" readings in important psychological indicators that normally appear during bottoms, high-profile financial implosions (i.e. Bear Stearns BSC +11.82%), excessive action from the Federal Reserve (i.e. aggressive rate cuts coupled with large capital infusion into the troubled financial system), hundreds of billions of dollars in emergency aid from Washington D.C., massive changes in existing lending practices (i.e. the actions seen in Fannie Mae FNM +11.69% and Freddie Mac FRE +8.96%), a slew of disconcerting national headlines (i.e. a slowing economy, weaker jobs data, higher inflation, soaring energy and food prices, etc) and direct involvement from the President of the United States. As we have mentioned several times in recent reports, if the bulls manage to defend support and a new batch of healthy leadership emerges, then a reliable market bottom could be forged. What we know for sure is that the market is in a new confirmed rally attempt, which means that the overall environment is now more favorable for accumulating stocks. Buy high-ranked leaders properly, and remember that a great way to stay ahead of the crowd is to always monitor CANSLIM.net's daily reports.
PICTURED: The Dow Jones Industrial Average scored a follow-through day which means the market is now in a confirmed rally attempt. It also closed above its 50-day moving average line.
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
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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
Financial and Retail Groups Bounce Back: Gold Nosedives Financial shares were the leading gainers on Thursday as the Bank ($BKX +7.41%) and Broker/Dealer ($XBD +8.27%) indexes powered their way to big gains. In fact, the XBD closed +24.9% above Monday's intra-day low and the BKX closed the very volatile week back above its 50-day moving average (DMA) line. The Retail Index ($RLX +4.88%) also rallied for a considerable gain. The Networking ($NWX +2.26%), Internet ($DOT +2.19%), Semiconductor ($SOX +1.48%), and Biotechnology ($BTK +1.17%) indexes closed unanimously higher. The Healthcare ($HMO +1.80%) group bounced back moderately from its extreme lows (mentioned in Wednesday's Industry Group Watch section). The energy group ended mixed, with a small loss for the Oil Services Index ($OSX -0.47%) and a gain for the Integrated Oil Index ($XOI +0.78%). The Reuters/Jefferies CRB Index plunged -8.4% for the week, the largest decline since at least 1956. After reaching records this week, gold fell a whopping $110 per ounce and crude oil plunged $11 per barrel.
PICTURED: The Gold & Silver Index ($XAU -3.45%) violated its 50 DMA line and upward trendline during this holiday-shortened week, closing an amazing -17.8% off last Friday's lows.
- 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.
Disciplined Investors Do Not Chase Extended Stocks
A classic example of the success enjoyed by many CANSLIM.net readers usually starts when an investor reads a CANSLIM.net report and buys a featured stock before it has risen above the pivot point by greater than 5%. After a stock breaks out above its pivot point, there is only a +5% window that investors have to purchase the stock under the proper guidelines. Once a stock rises above the "maximum buy price" the risk of a shake out balloons, meaning that even a normal retracement in the stock might force you to employ the 7-8% loss cutting rule. Much can be told by the stock's daily action in the weeks and months that follow a breakout. Typically, a light volume and orderly pullback suggests that the bulls remain in control. However, high volume pullbacks that violate support paint a totally different picture.
FTI Consulting Inc. (FCN +$3.66 or 5.45% to $70.77) galloped to a fresh all time high close on Thursday as volume swelled for its third gain on above average volume in the past 4 sessions. In late February it demonstrated strong action with a big gap up on 2/29/08 for a considerable gain on very heavy volume after it reported better than expected earnings results and gave FY '08 earnings and revenues guidance above Street expectations. However, it was noted in prior reports that the quarter ended Dec 31, 2007 had only a +20% earnings per share increase, giving cause for concern. Nonetheless, FCN vaulted above its 50-day moving average line ($59.02 now) and triggered a fresh technical buy signal as the stock soared above its pivot point on monstrous volume. Prior chart highs in the $63 area are important support to watch on pullbacks. Deterioration into the prior base would raise concerns and trigger technical sell signals.
FCN still sports decent ranks, although its Earnings Per Share (EPS) slid to a 79, its Relative Strength (RS) rating is a very healthy 98. It announced new acquisitions on 3/18/08 and its color code was changed to green as it rose well above its max buy level. The stock is now too extended to be considered buyable under the current guidelines. Disciplined investors know the importance of avoiding the temptation of "chase" stocks above their maximum buy price. A low volume pullback towards its prior chart highs and pivot point may allow patient investors to accumulate this strong leader. FTI Consulting was first featured on Friday, December 28, 2007 in the CANSLIM.net Mid Day Breakouts Report (read here) with a $62.53 pivot point and a $65.66 maximum buy price. It is important to note that FCN has rallied 14% since it was featured while the major averages tanked. Initially, the stock was unable to make significant price progress as it almost immediately encountered resistance and spent the next couple of months pulling back and violating its 50 DMA line. However, the bulls promptly showed up and defended its longer term 200 DMA line ($52.43 now) before sending it back into new high territory.
- 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.
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Last Updated Thursday, March 20, 2008 at 4:32:00 PM by Kenneth Gruneisen and the expert staff at CANSLIM.net
Most Recent Note - 3/20/2008 6:30:15 PM
Y - Encouraging positive reversal today, finding support just above its 50 DMA line and prior chart highs while continuing to build on a base-on-base pattern. Perched near its 52-week high with very little resistance in its way, but a 50 DMA line breach and any deterioration into the prior base would raise concerns and trigger technical sell signals. See the Featured Stock Update section of the 3/10/08 CANSLIM.net After Market Update for analysis and an annotated graph (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 |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 6:27:21 PM
Y - Positive reversal today for a small gain on above average volume, but concerns remain while it is continuing to trade below its 50 DMA line. Recent chart lows near $29 and its 200 DMA line are key support levels to watch now, where violations would trigger technical sell signals. On 3/07/08 it was noted as its violation of its 50 DMA line raised concerns. Featured in a 2/28/08 CANSLIM.net Stock Bulletin with detailed analysis and an annotated graph (read
here). Decent earnings satisfy the C and A criteria for this high-ranked leader in a strong group (good L criteria). Sales revenues increases have been improving, but below the +25% guidelines, which is of some concern. Increasing institutional ownership interest is reassuring concerning the I criteria. View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 6:24:33 PM
Y - Loss on more than twice average volume led to a violation of its 50 DMA line, again raising concerns. Considerable gain on 3/13/08 with slightly above average volume (not meeting the +50% above average volume guideline) helped it rise above stubborn resistance at its 50 DMA line and close above a new pivot point. That action was highlighted in the Featured Stock Update section of the 3/13/08 CANSLIM.net After Market Update with detailed analysis and an annotated graph (read
here), serving as a great reminder as to the importance of a proper buy discipline. 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
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 6:14:13 PM
Y - Negatively reversed for the second consecutive session, violating its 50 DMA line with a loss on heavy volume. That raises concerns it is encountering distributional pressure. See the Featured Stock Update section of the 3/18/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Hit a new 52-week high on strong earnings news and guidance last month as its latest strong quarterly report showed accelerating sales revenues and earnings growth. However, it negatively reversed on 2/14/08, erasing its early gains above resistance in the $26 area. That action was previously noted as a sign it was encountering distributional selling pressure. 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 |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 6:09:15 PM
Y - Encountering resistance, and the volume behind its gains has been very light since the violation of its 50 DMA line raised concerns. It has failed to make headway since featured in the 2/21/08 CANSLIM.net Mid-Day BreakOuts Report (read
here) and later that afternoon in a more detailed CANSLIM.net Stock Bulletin (read
here). 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
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 6:06:22 PM
Y - Gain on above average volume led to its second best close ever, ending near its session high. Very little resistance remains due to overhead supply, and its color code is changed to yellow with a new pivot point and max buy level noted. See the Featured Stock Update section of the 3/05/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). 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 243 in Dec '07, a strong sign of institutional buying demand (the I criteria). View all notes |
Alert
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CANSLIM.net Company
Profile
LKQX- NASDAQ
L K Q Corp
WHOLESALE - Auto Parts Wholesale
Most Recent Note - 3/20/2008 6:00:42 PM
Y - Made some headway above prior chart highs in the $23 area on very heavy volume, but didn't quite clear the pivot point cited. Featured in yellow in today's CANSLIM.net Mid-Day BreakOuts Report (read
here). Bullish action in a tough market since its 2/27/08 gap up above its 50 DMA line. Sales revenues and earnings growth each quarter has been mostly near guidelines, however it showed a big jump in sales revenues and earnings in the latest quarter ended Dec 31, 2007. Increasing ownership by top rated funds also satisfies the I criteria nicely. This previously featured stock is an ideal buy candidate to have on your watchlist again while waiting for a convincing technical buy signal and improving market conditions (better M criteria). View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:47:40 PM
Y - Considerable gain on above average volume lifted it above its max buy level. Support is at prior chart highs in the $50 area, and patience may allow disciplined investors to accumulate shares on light volume pullbacks. Featured in the 3/18/08 CANSLIM.net Mid-Day BreakOuts Report after a gap up and considerable gain on very heavy volume to a new all-time high after its latest strong earnings report and raised guidance (read
here). Good annual earnings history and its 3 latest quarterly earnings increases were above the +25% guideline good C & A criteria). While acknowledging its recent technical buy signal, proper buy discipline suggests that new buying efforts should be restrained until the overall market (the M criteria) improves with a new follow-through day. View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:43:57 PM
Y - Positively reversed for a small gain on light volume, still closing below its 200 DMA line ($24.01 now). Just featured in the March 2008 CANSLIM.net News with detailed technical information and an annotated chart (read
here). Look for the stock to confirm a new technical buy signal by breaking out above its $31.59 pivot point with gains on heavy volume in the coming days and weeks. Remember that buyable breakouts require three important components: the stock must clear its pivot point with considerable gains, those gains must be backed by at least +50% above average volume, and the overall market environment must also be healthy. Its small supply of shares and light trading volumes could lead dramatic price volatility, especially if the institutional crowd rushes in or out. View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:37:56 PM
Y - Closed at the session high with a gain on above average volume for another new all-time high, nearing its max buy level. See the Featured Stock Update section of the 3/14/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Traded up above its pivot point on 3/12/08 to new all-time highs with volume more than double its average daily trading total, enough to trigger a new technical buy signal. Featured in the 2/28/08 CANSLIM.net Mid-Day BreakOuts Report with a $46.14 pivot point (read
here). Gapped up on 2/27/08 after reporting strong earnings and raising its profit outlook. Good annual and quarterly earnings growth history satisfies the C and A criteria. View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:35:25 PM
Y - Positively reversed for a considerable gain on above average volume after an intra-day dip below its 50 DMA line. A violation of its latest chart lows would raise concerns and trigger technical sell signals. Recently encountered stubborn resistance near prior chart highs in the $68 area. Gains above its pivot point on heavy volume would be a welcome reassurance to help confirm a technical buy signal. See the Featured Stock Update section of the 3/11/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Decelerating sales revenues growth is a concern. Featured in the 1/31/08 CANSLIM.net Mid-Day BreakOuts Report (read
here). Hails from the high-ranked Containers group, 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 |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:31:48 PM
Y - Recently found support near its 50 DMA ($95.14 now) line. Any subsequent violation of its short-term average or breach of its latest chart lows would raise more concerns and trigger technical sell signals. Featured in the 2/28/08 CANSLIM.net Mid-Day BreakOuts Report (read
here). As previously noted, closing under its December high close raised concerns by negating all of its impressive 2/28/08 gain that occurred on nearly 4 times average volume as it fell back into its prior base. Reported strong earnings and sales increases for the quarter ended Dec 31, 2007. It has a history of strong quarterly earnings and sales revenues increases. Recently crept quietly to new highs from a choppy base-on-base type pattern. View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:28:10 PM
Y - Considerable loss on heavy volume today, falling under its pivot point and raising concerns. Negatively reversed for a loss on 3/19/08 after hitting new all-time highs above its max buy level. It was repeatedly noted that volume behind the recent gains above its pivot point failed to meet the minimum guideline for a proper technical buy signal. Breakouts should come with at least +50% above average volume, preferrably more, to indicate great institutional buying demand which could lead to a sustained advance into new high ground. See the Featured Stock Update section of the 3/07/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Number of top rated funds owning an interest rose from 39 in Mar '07 to 47 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 (good C criteria) and sales revenues increases. Its annual earnings growth rate (the A criteria) has been steady but not especially impressive, and sales revenue growth had been below the +25% guideline up until its latest quarter ended Dec 31, 2007, which showed a solid +37% increase. View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:25:04 PM
Y - Traded under its 200 DMA line intra-day but ended well above it, still closing with a loss on above average volume. Its 3/19/08 violation of its 50 DMA line raised concerns. It promptly encountered resistance and fell back into its prior base after technically breaking out from a double bottom type pattern on 2/26/08 with above average volume behind a gain above its $22.09 pivot point. High ranked leader in the strong Oil & Gas US Exploration/Production group with a good annual earnings growth history (good A criteria). Showing strong quarterly sales revenues increases, and earnings were well above the +25% guideline in the 2 latest quarterly comparisons versus the year earlier period. View all notes |
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CANSLIM.net Company
Profile
BABY- NASDAQ
Natus Medical Inc
HEALTH SERVICES - Medical Appliances & Equipment
Most Recent Note - 3/20/2008 5:16:50 PM
Y - Second consecutive small loss on above average volume, still trading below its 50 DMA line. Positive reversal on 3/13/08 for a small gain on heavy volume after trading below its 200 DMA and hitting a new 2008 low was somewhat encouraging. See the Featured Stock Update section of the 3/12/08 CANSLIM.net After Market Update for analysis and an annotated graph as it triggered another technical sell signal when gapping down under its 50 DMA line (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). View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 6:32:23 PM
G - See the Featured Stock Update section of this evening's CANSLIM.net After Market Update for analysis and an annotated graph (read
here). New high close today after its third gain on above average volume in the past 4 sessions. Prior chart highs in the $63 area are important support to watch on pullbacks. Deterioration into the prior base would raise concerns and trigger technical sell signals. Announced new acquisitions on 3/18/08 and its color code was changed to green as it rose well above its max buy level. Strong action since a big gap up on 2/29/08 for a considerable gain on very heavy volume after it reported better than expected earnings results and gave FY '08 earnings and revenues guidance above Street expectations. The quarter ended Dec 31, 2007 had only a +20% earnings per share increase, giving cause for concern. See the Featured Stock Update section of the 2/20/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). 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. Completed an additional share offering on 10/03/07. View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 6:16:40 PM
G - Positive reversal today for a gain on above average volume, however it encountered resistance at its 50 DMA line this week. Important support to watch now is its 200 DMA line and earlier chart highs in the $23 area. See the Featured Stock Update section of the 3/06/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Feature data was updated to reflect a 2:1 stock split effective 3/4/2008. First featured with a pivot point of $43.64 in the August '07 CANSLIM.net News (read
here). View all notes |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 6:15:25 PM
G - Encouraging gain on above average volume. Its 50 DMA line recently acted as support, however a subsequent breach would raise concerns and trigger a technical sell signal. It gapped up for a considerable 2/15/08 gain on heavy volume, blasting above resistance at its 50 DMA line after reporting solid Q4 earnings and a favorable outlook. See the Featured Stock Update section of the 3/17/08 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 |
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CANSLIM.net Company
Profile
ICLR- NASDAQ
Icon Plc Ads
DIVERSIFIED SERVICES - Research Services
Most Recent Note - 3/20/2008 5:42:42 PM
G - Considerable loss on above average volume led to a violation of its upward trendline, raising concerns. That upward trendline was discussed as an important support level to watch in the Featured Stock Update section of the 3/19/08 CANSLIM.net After Market Update analysis and annotated graph (read
here). Gapped up on 2/21/08 from a base-on-base type pattern after its latest strong earnings report. See the Featured Stock Update section of the 2/13/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). 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 |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:40:35 PM
G - High volume and lack of upward price progress today raises more concerns while it remains under its 50 & 200 DMA lines. Color code was changed to green since recent deterioration pressured it from its highs. Signs of weakness make it a less compelling buy candidate. Its recent failure to follow through on its breakout was noted as cause for concern, especially after weakness on 2/29/08 which promptly negated the prior session's breakout and made it fall back into its prior base. Gain on 2/28/08 with +76% above average volume helped it trade and close above its pivot point to trigger a proper technical buy signal. Featured on 2/21/2008 as early gains on high volume had it nearly challenging prior chart highs in the $47 area after reporting stronger earnings and sales revenues increases for the latest quarter ended Dec 31, 2007 (read
here). 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 |
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CANSLIM.net Company
Profile
Most Recent Note - 3/20/2008 5:27:36 PM
G - Closed below its 50 DMA line, raising concerns with another loss on above average volume. Color code is changed to green since recent deterioration has pressured it from its highs. Recent signs of weakness make it a less compelling buy candidate. Traded above its pivot point to a new high on 3/07/08 but quickly reversed most of its gain and closed weak. Featured in the March 2008 CANSLIM.net News with detailed technical information and an annotated chart (read
here). Look for the stock to confirm a new technical buy signal by breaking out above its $77.60 pivot point with gains on heavy volume in the coming days and weeks. Much of EBIX's success will depend on the broader market's ability to sustain a meaningful rally, otherwise 3 out of 4 stocks are likely to struggle. Its small supply of shares and very light trading volumes could lead dramatic price volatility, especially if the institutional crowd rushes in or out. View all notes |
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Most Recent Note - 3/20/2008 10:33:09 AM
G - Gapped down under its 50 DMA line today, a sign of heavy institutional selling pressure, triggering technical sell signals and falling well below its latest pivot point amid a widespread pullback in the gold group. This follows 3 consecutive losses on above average volume after hitting a new all-time high on 3/17/08 and negatively reversing. See the Featured Stock Update section of the 2/26/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). First featured at $15.89 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. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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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
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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.
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