Gains On Better Volume Indicate Better Institutional Buying Demand
The major averages ended modestly higher and experienced their best action of any session this week after pulling back but staying above their respective 50-day moving average (DMA) lines. Volume totals reported were higher than the prior session on the NYSE and the Nasdaq exchange. Higher volume advances for several of the major market indices is a good sign of strength and accumulation by institutional investors. It was especially reassuring action, considering that volume was heavier than on the prior session, which had marked the second distribution day since the March 20, 2008 follow-through day. Breadth was positive as advancers led decliners by a 5-to-3 ratio on the NYSE and by about a 3-to-2 ratio on the Nasdaq exchange. However, the number of stocks making new 52-week highs trailed stocks making new 52-week lows on both major exchanges. Also, despite the stronger performance from the major averages than Wednesday's session, there were only 17high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net
BreakOuts Page, which was half of the 34stocks that appeared on the prior session.
It was encouraging to see the bulls show up and send the major averages higher one day after several of them had pulled back back towards their 50 DMA respective lines. For the past two quarters, the 50 DMA line had acted as formidable resistance. However, since the March 20, 2008 follow-through day, the major averages blasted above their short-term moving averages, which bodes well for this rally. This is a subtle but important change in tenor, and as long as the major averages continue trading above that important threshold, odds tend to favor further gains.
Wal-Mart (WMT +0.98%), the world's largest retailer, jumped to a three-year high after discount orientated shoppers helped lift sales. This large behemoth is not a typical stock for growth oriented investors, but it serves as a good catalyst to measure the overall economy and it is a highly influential player in the retail space. The stock's fundamentals are below the investment system's guidelines, and the fact that it has nearly 4 billion shares outstanding is somewhat prohibitive to great future growth.
Elsewhere, the Labor Department reported jobless claims decreased more than forecast last week. The report showed initial jobless claims fell by -53,000, which was more than twice economists' forecast, to 357,000 in the week ended April 5th. The four-week moving average, which is less volatile and helps smoothes out the results, increased to +378,250. This was the highest reading since October 2005.
PICTURED: The Nasdaq Composite bounced on Thursday with heavier volume after finding support near its 50 DMA 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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Comments contained in the body of this report are technical
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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
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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
Biotec and Retail Indexes Led Gainers: Broker/Dealer Index Lagged
The
Biotechnology Index ($BTK +4.81%) led the tech sector, followed by smaller gains from the Semiconductor
($SOX +1.79%), Internet ($DOT +1.33%) and Networking ($NWX +0.50%) indexes. Strength in the Retail Index ($RLX +1.78%) also helped to give the major market averages a boost. The Oil Services Index ($OSX +0.44%) posted a small gain while the Integrated Oil Index ($XOI -0.70%) suffered a small loss and the Gold & Silver Index ($XAU -0.03%) ended flat. Meanwhile, the Bank Index ($BKX -0.29%) edged lower and the Broker/Dealer Index ($XBD -1.77%) was a laggard on Thursday.
PICTURED: The Biotechnology Index ($BTK +4.81%) was inspired by a $9 billion buyout offer for Millennium Pharmaceuticals (MLNM +48.87%) from Japan's Takeda Pharmaceuticals, making the BTK a standout gainer. It closed just above its 200-day moving average (DMA) line. It is challenging a 6-month downward trendline, and more convincing gains that help it rise above that trendline would be a technical reassurance that bodes well for the group.
- 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.
Previously Featured Winner Challenges Prior Highs
Often, when a leading stock is setting up to breakout of a solid base it is highlighted in CANSLIM.net's Mid-Day Breakouts Report. The most relevant factors are noted in the report which allows prudent CANSLIM oriented investors to place the issue in their watch list. After doing any necessary backup research, the investor is prepared to act if and when the stock triggers a technical buy signal (breaks above its pivot point on more than +50% average turnover). In the event the stock fails to trigger a technical buy signal and its price declines then it will simply be removed from the watch list.
Intuitive Surgical Inc. (ISRG +$17.81 or +5.30% to $353.88) rallied on above average volume as it enjoyed its best close ever! This high ranked leader was featured again in yellow today in the CANSLIM.net Mid Day Breakouts Report (read here) with a new $359.69 pivot point and a $377.57 maximum buy price with the following note, "Y - Near its all-time highs in the $359 area after a 4-month consolidation, with no resistance remaining due to overhead supply now. It has high-ranks based on strong quarterly sales revenues and earnings increases (good C criteria). Annual earnings have grown impressively over the past 3-5 years, however 2006's earnings were actually lower than 2005's, and the lack of steady growth raises a question concerning the A criteria. It had gapped down for a considerable loss on heavier volume on 1/08/08, and based on the weak technical action it was dropped from the Featured Stocks list. This stock traded up more than 11 fold since it was first featured in yellow in CANSLIM.net report on August 18, 2004."
This stock has appeared several times over the past few years in CANSLIM.net's reports. Most recently it was featured on October 19, 2007 in the CANSLIM.net Mid Day Breakouts report (read here) as it was breaking out of an ascending base pattern with a $264.51 pivot point and a $277.74 maximum buy price. The shares rallied a very healthy +36% since that mid-October appearance before triggering a slew of technical sell signals in January, which actually prompted its last appearance with an annotated graph in the Featured Stock Update section of the January 8, 2008 After Market Update under the headline "Gap Down, Violation of 50 DMA & Upward Trendline Trigger Sell Signals" (read
here). This long-time favorite is up more than 13 fold since it was first featured in yellow in CANSLIM.net reports in July-August 2004.
- 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, April 10, 2008 at 4:34:00 PM by Kenneth Gruneisen and the expert staff at CANSLIM.net
Most Recent Note - 4/10/2008 6:44:10 PM
Y - Gapped down today after an analyst downgrade, but recovered to close near its session high. It has rallied above its pivot point from a 7-month flat base on above average volume, but not heavy enough volume. Just featured in the April 2008 CANSLIM.net News with detailed technical information and an annotated chart (read
here). Since January there has been no sign of institutional selling (distribution), which is a healthy sign. Look for the stock to confirm a new technical buy signal by producing a solid gain above its $72.91 pivot point with at least +50% above average volume. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 6:42:02 PM
Y - Negatively reversed on 4/09/08 after early gains to new all-time highs above its pivot point. Considerable gain on 4/08/08 with only +13% above average volume helped it close at its best ever, rising clear of virtually all chart resistance. See the Featured Stock Update section of the 3/31/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Recent chart lows near $29 and its 200 DMA line are key support levels to watch now, where violations would trigger technical sell signals. 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. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 6:32:10 PM
Y - Holding its gains and trading in a tight range near highs since its 4/01/08 gap up. It needs at least +50% above average volume behind gains above its pivot point to trigger a proper new technical buy signal. A subsequent breach of support at its 50 DMA line would raise concerns and trigger a technical sell signal. It gapped up for a considerable 2/15/08 gain on heavy volume 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). 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. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 6:28:35 PM
Y - Volume has been drying up while it has been quietly hovering above its 50 DMA line in recent weeks. It recently found support near its 200 DMA line, but still faces some resistance due to overhead supply up to the $26 area. 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. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 6:22:42 PM
Y - Little resistance remains as it is quietly hovering near its all-time high $28.50 yet just above its 50 DMA line. Considerable gains on +50% above average volume or more are needed to help it rally above its pivot point and trigger a new technical buy signal. Its longer-term 200 DMA line (now $24.04) is the next important support level to watch. See the Featured Stock Update section of the 3/24/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). It has failed to make headway and pulled back 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. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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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
MCRS- NASDAQ
Micros Systems Inc
COMPUTER SOFTWARE & SERVICES - Technical & System Software
Most Recent Note - 4/10/2008 5:56:52 PM
Y - Small gain on very light volume today. Traded lower on 10 of the prior 11 sessions, pulling back to its 200 DMA line. Its 4/07/08 violation of support at its 50 DMA line was noted as it recently raised concerns, and deterioration under its prior high close ($35.60 on 2/13/08) was previously noted to have raised concerns. A prompt repair of the 50 DMA breach could help it save face, however a violation of its 200 DMA line (now $32.09) could trigger additional sell signals. On 3/24/08 it traded up and closed above its pivot point, however volume +44% above average was under the minimum guidelines for a proper buy signal. Just updated on 3/23/08 in the Special Report Series (Part 1) - Dow Jones Industrial Average Follow Through (read
here). Look for MCRS to trigger a proper technical buy signal with volume at least +50% above average behind considerable gains above its pivot point. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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MANT- NASDAQ
Mantech International
COMPUTER SOFTWARE & SERVICES - Business Software & Services
Most Recent Note - 4/10/2008 5:54:16 PM
Y - Small loss on light volume today after its negative reversal on 4/09/08 from early gains on light volume that had helped it reach a new all-time high. Held its ground well since featured after it gapped up in the 4/01/08 CANSLIM.net Mid-Day BreakOuts Report (read
here). An annotated graph was included with more extensive details in that evening's CANSLIM.net After Market Update (read
here). It is challenging all-time highs in the $48 area, with little overhead supply to hinder its progress. Sales and earnings in recent quarterly comparisons show stronger increases, and its annual growth has been steady. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 5:50:45 PM
Y - Light volume gain today, hovering near all-time highs. Like prior gains above its pivot point, the volume total on 4/01/08 was short of the +50% above average volume needed to trigger a proper technical buy signal, leaving questions about the recent level of institutional buying demand. Just updated on 3/23/08 in the Special Report Series (Part 1) - Dow Jones Industrial Average Follow Through (read
here). First 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 252 in Dec '07, a strong sign of institutional buying demand (the I criteria). - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 5:44:18 PM
Y - Gains today on above average volume helped it rise near its max buy level and end at a new high close. It tested and found support at prior chart highs in the $30-31 area after its breakout. See the Featured Stock Update section of the 4/07/08 CANSLIM.net After Market Update for details and an annotated graph (read
here). Considerable gains on 4/04/08 with more than 3 times average volume helped it rise above its pivot point to confirm a technical buy signal. Previous bullish action was noted during its base as it gapped up on 3/27/08 above its 50 DMA line with nearly 4 times average volume when reporting strong quarterly sales revenues and earnings increases for the fourth quarter ended December 31, 2007. Its small supply of shares and light trading volumes could lead dramatic price volatility, especially if the institutional crowd rushes in or out. Just featured in the March 2008 CANSLIM.net News with detailed technical information and an annotated chart (read
here). - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 5:16:26 PM
Y - Featured in today's CANSLIM.net Mid-Day BreakOuts Report (read
here) and in the Featured Stock Update section of this evening's CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Considerable gain today on +49% above average volume helped it end at its best ever close. Near its all-time highs in the $359 area after a 4-month consolidation, with no resistance remaining due to overhead supply now. It has high-ranks based on strong quarterly sales revenues and earnings increases (good C criteria). Annual earnings have grown impressively over the past 3-5 years, however 2006's earnings were actually lower than 2005's, and the lack of steady growth raises a question concerning the A criteria. It had gapped down for a considerable loss on heavier volume on 1/08/08, and based on the weak technical action it was dropped from the Featured Stocks list. This stock has traded up more than 13-fold since it was first featured in yellow in CANSLIM.net report on August 18, 2004. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 5:03:05 PM
Y - Light volume loss today leaves it perched -5.1% off its all-time high. Color code is changed to yellow again with new pivot point and max buy levels noted. Increasing ownership interest by top rated funds is reassuring concerning the I criteria. See the Featured Stock Update section of the 3/27/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). It recently recovered above its 50 DMA line after finding recent support near its 200 DMA line. Its recent failure to follow through on its breakout was noted as cause for concern. 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). - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 4:48:49 PM
Y - Positively reversed today for a gain on light volume. See the Featured Stock Update section of the 4/09/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Its 3/25/08 gain above its pivot point with +52% above average volume was just above the minimum volume guideline for a proper technical buy signal. Deterioration leading to a close back under its prior high close ($68.04 on 3/05/08) would raise concerns, and a violation of its 0 DMA line would trigger technical sell signals. Decelerating sales revenues growth rate 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. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 4:47:47 PM
Y - Small gain today on lighter volume. Gapped down on 4/08/08 for a considerable loss on heavy volume following an analyst downgrade. It fell back under its latest pivot point with a loss on heavy volume, raising concerns. See the Featured Stock Update section of the 4/04/08 CANSLIM.net After Market Update for details and an annotated graph (read
here). Violation of its short-term average or breach of its latest chart lows would raise additional 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. It has a history of strong quarterly earnings and sales revenues increases. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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BABY- NASDAQ
Natus Medical Inc
HEALTH SERVICES - Medical Appliances & Equipment
Most Recent Note - 4/10/2008 4:14:06 PM
Y - Small gain on light volume today, ending pennies off its best ever close. Recent gains have been backed by light volume as it worked through resistance up to $20, approaching its original pivot point. Completed a small additional share offering on 4/04/08 raising approximately $13 million. 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). - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 4:12:20 PM
Y - Small gain on light volume for another new high close today. Color code was changed to yellow again based on its progress after finding support near its 50 DMA line. It has not yet triggered a proper technical buy signal since it was featured in the March 2008 CANSLIM.net News (read
here). The Featured Stock Update section of the 3/28/08 CANSLIM.net After Market Update provided a recent detailed analysis and an annotated graph (read
here). Considerable gain on above average volume brought an end to a positive week marked by a gain on 3/25/08 with the heaviest volume since 10/31/07. Its small supply of shares and very light trading volumes could lead dramatic price volatility, especially if the institutional crowd rushes in or out. Look for the stock to confirm a new technical buy signal by breaking out above its originally cited $77.60 pivot point with gains on heavy volume in the coming days and weeks. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/9/2008 4:16:57 PM
Y - Still trading quietly in a tight range near its highs. Featured in the April 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 and closing above its $62.62 pivot point (meets the N criteria) with gains on at least the minimum +50% above average volume or heavier volume in the coming days and weeks. As always, it is of the utmost importance to sell a stock if it drops 7-8% below your purchase price. The small supply of outstanding shares (the S criteria) could lead to dramatic price volatility, especially if the institutional crowd rushes in or out. Also, the market conditions are still somewhat questionable, largely due to the lack of leadership, which suggests this is not an ideal environment conducive for accumulating shares. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 6:36:06 PM
G - Traded under the prior chart low ($24.89 on 3/10/08) today but recovered to close near the session high for a small loss on average volume. Subsequent losses on heavy volume would trigger an additional technical sell signal, especially if its 200 DMA line (now $23.66) is breached. See the Featured Stock Update section of the 4/08/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). It negatively reversed at its 50 DMA line on 4/07/08, encountering resistance at that important short-term average. Feature data was updated to reflect a 2:1 stock split effective 3/4/2008. First featured in the August '07 CANSLIM.net News (read
here). - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 5:48:14 PM
G - Gapped down today then quickly rebounded, ultimately trading up with above average volume. Four losses on above average volume in the prior 5 sessions included gaps down on 4/03/08 and 4/08/08 which raised concerns. Previously noted as "extended well above its max buy level." Prior chart highs in the $50 area are now an important support level. First 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 following 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). - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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ICLR- NASDAQ
Icon Plc Ads
DIVERSIFIED SERVICES - Research Services
Most Recent Note - 4/10/2008 5:06:22 PM
G - Struggling in recent weeks as gains have lacked volume, and today it closed just under its 50 DMA line (now $64.24). Support is near its 2008 lows in the $58 area, and additional losses to new lows would trigger additional technical sell signals. Concerns were raised by an upward trendline violation which was covered 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. First featured in yellow at $45.50 in 4/24/2007 CANSLIM.net Mid-Day Breakouts Report (read
here). - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 5:01:51 PM
G - Second consecutive loss on light volume, pulling back near its max buy level. Rebounded to a new all-time high quickly after it found prompt support following its 3/29/08 gap down that pressured it near prior chart highs in the $46 area. 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). Good annual and quarterly earnings growth history satisfies the C and A criteria. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 4:44:30 PM
G - It has pulled back toward prior chart highs in the $63 area, an important support level previously noted. Deterioration into the prior base would raise concerns and trigger technical sell signals. See the Featured Stock Update section of the 3/20/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Gapped 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. 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 172 in Mar '08, satisfying the I criteria. Completed an additional share offering on 10/03/07. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/10/2008 3:54:40 PM
G - Gain today on lighter volume for another new all-time high. Prior chart highs in the $22-23 area are an important support level now. Most recent gains have come on above average volume, and its 4/04/08 gain on +67% above average volume met the guideline for a proper technical buy signal. Color code was changed to green after its recent winning streak lifted it above the max buy level. See the Featured Stock Update section of the 3/27/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). 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. - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/9/2008 4:18:29 PM
G - Volume is quiet with it perched near all-time highs. Due to report earnings following the close of the market on Monday, April 14, 2008. See the Featured Stock Update section of the 4/02/08 CANSLIM.net After Market Update for analysis and an annotated graph (read
here). Making steady progress in recent weeks with bullish price/volume action helping it rally above its max buy level. 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). 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. Very strong quarterly earnings increases (good C criteria). - Kenneth J. Gruneisen, CAN SLIM® Certified, Registered Principal, Source Capital Group, Inc. (Members FINRA, SIPC) View all notes |
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Most Recent Note - 4/9/2008 4:07:38 PM
G - Halted its steep slide last week and it has been hovering just above its longer-term 200 DMA line. Concerns were raised by its recent streak of damaging losses that led to a 50 DMA line violation and deterioration under its November high close ($15.49). It now faces resistance due to overhead supply after having negated all of this year's bullish action. See the Featured Stock Update section of the 3/26/08 CANSLIM.net After Market Update with an annotated graph (read
here). It has been hit by heavy institutional selling pressure that triggered technical sell signals and pushed it well below its latest pivot point. Concerns were initially noted based on weakness after hitting a new all-time high on 3/17/08 and negatively reversing. Traded up as much as +25.4% after it was first featured at $15.89 in the February 2008 CANSLIM.net News (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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