21 Apr
Daily Market Commentary

Stocks End Mixed On Renewed Greek Woes

Wednesday April 21, 2010
Market Commentary:

The major averages ended mixed after speculation spread that the international aid package will not be enough to help Greece avoid defaulting on its debt. Volume, an important indicator of institutional sponsorship, rose compared to Tuesday’s totals. Advancers led decliners by over 21-to-17 ratio on the NYSE and by a 14-to-13 ratio on the Nasdaq exchange. New 52-week highs still easily trumped new lows on both exchanges. There were 46 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 37 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally, but that number abruptly contracted amid the latest bout of distribution.

Earnings, Earnings, & More Earnings!

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20 Apr
Daily Market Commentary

Stocks Close Higher On Healthy Earnings Data

Tuesday, April 20,2010
Market Commentary:

The major averages ended higher on Tuesday after Goldman Sachs (GS -2.05%) said Q1 earnings almost doubled and reaffirmed that it did not mislead investors in the SEC case. Volume, an important indicator of institutional sponsorship, slid compared to Monday’s totals. Advancers led decliners by over a 4-to-1 ratio on the Nasdaq exchange and by a 3-to-1 ratio on the NYSE. New 52-week highs still easily trumped new lows on both exchanges. There were only 37 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 16 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally, but that number abruptly contracted amid the latest bout of distribution.

Earnings, Earnings, & More Earnings!

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19 Apr
Daily Market Commentary

Stocks End Mixed As Investors Digest A Slew of Earnings

Monday, April 19, 2010
Market Commentary:

The major averages ended mixed after Daimler AG (DAI +5.70%) & Citigroup (C +7.02%) reported better-than-expected results and news broke that the Securities and Exchange Commission did not unanimously approve pursuing a case against Goldman Sachs Group Inc. (GS +1.63%). As expected, volume, an important indicator of institutional sponsorship, slid compared to Friday’s heavy options related totals. Decliners led advancers by nearly a 11-to-8 ratio on the Nasdaq exchange and by nearly a 17-to-10 ratio on the NYSE. New 52-week highs still easily trumped new lows on both exchanges. There were only 16 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, lower than the 37 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally. Regular readers know we have repeatedly noted in this commentary -“the recent expansion in leadership has been a welcome improvement.”

SEC Split On Goldman Case & Healthy Earnings Lift Stocks:

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16 Apr
Daily Market Commentary

7-Week Rally Under Pressure

Friday, April 16, 2010
Market Commentary:

The major averages rallied during the first half of the week but gave back those gains on Friday’s ugly distribution day. Volume jumped on Friday compared to Thursday’s levels after the SEC charged investment giant Goldman Sachs (GS) with fraud when they sold CDO’s in 2007. Decliners trumped advancers by nearly a 4-to-1 ratio on the Nasdaq exchange and by nearly a 3-to-1 ratio on the NYSE. New 52-week highs easily trumped new lows on both exchanges. There were 37 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, lower than the 89 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally. Regular readers know we have repeatedly noted in this commentary –“the recent expansion in leadership has been a welcome improvement.”

Strong Start To The Week But Rally Fizzles:

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15 Apr
Daily Market Commentary

Stocks Edge Higher On Latest Economic & Earnings Data

Thursday, April 15, 2010
Market Commentary:

Stocks ended higher on Thursday as investors digested Wednesday’s large move and the latest round of earnings and economic data. Volume totals on the NYSE and on the Nasdaq exchange were reported slightly lower compared to Wednesday’s totals. Advancers led decliners by a 4-to-3 ratio on the Nasdaq exchange and were about even on the NYSE. New 52-week highs easily trumped new lows on both exchanges. There were 89 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 86 issues that appeared on the prior session. A healthy crop of new leaders making new highs bodes well for any market rally. Regular readers know we have repeatedly noted in this commentary –“the recent expansion in leadership has been a welcome improvement.”

Strong Mfg Data Offsets Weaker Jobs Data:

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14 Apr
Daily Market Commentary

Stocks Rally On Healthy Earnings & Economic Data

Wednesday, April 14, 2010
Market Commentary:

The major averages jumped above important physcological resistance levels after a slew of stronger than expected earnings and economic data were released. Volume totals on the NYSE and on the Nasdaq exchange were reported higher compared to Tuesday’s totals which suggests increased institutional sponsorship. Advancers trumped decliners by over a 3-to-1 ratio on the NYSE and by nearly a 4-to-1 ratio on the Nasdaq exchange. New 52-week highs trumped new lows on both exchanges and new highs on the NYSE hit the highest level since January 2004! There were 86 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, nicely higher than the 46 issues that appeared on the prior session.  A healthy crop of new leaders making new highs bodes well for any market rally, so the recent expansion in leadership has been a welcome improvement.

A Slew of Healthy Earnings Lifts Stocks:

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13 Apr
Daily Market Commentary

Stocks Edge Higher As Earnings Season Begins

Tuesday, April 13, 2010
Market Commentary:

The major averages opened lower and closed slightly higher after Alcoa Inc. (AA) kicked off earnings season with lackluster results and a survey showed small business owners are still pessimistic about the economic recovery. Volume totals on the NYSE and on the Nasdaq exchange were reported higher when compared to Monday’s totals. Advancers were about even with decliners on the NYSE and Nasdaq exchange as the major averages spent the session trading between positive and negative territory. New 52-week highs trumped new lows on both exchanges yet again. There were 46 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, lower from the 61 issues that appeared on the prior session.  A healthy crop of new leaders making new highs bodes well for any market rally, so the recent expansion in leadership has been a welcome post-holiday improvement.

Earings Season Begins & Stocks Begin Reacting:

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12 Apr
Daily Market Commentary

Q1 Earnings Season Begins; Stocks Edge Higher

Monday, April 12, 2010
Market Commentary:

The major averages ended higher after Greece received an international aid pledge to help it get through its worst financial crisis since WWII. Volume totals on the NYSE and on the Nasdaq exchange were reported mixed; lower on the NYSE and slightly higher on the Nasdaq exchange compared to Friday’s totals. Breadth was positive as advancers led decliners by a 11-to-8 ratio on the NYSE and by a 5-to-4 ratio on the Nasdaq exchange. New 52-week highs trumped new lows on both exchanges yet again. There were 61 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 from the 48 issues that appeared on the prior session.  A healthy crop of new leaders making new highs bodes well for any market rally, so the recent expansion in leadership has been a welcome post-holiday improvement. 

Euro Surges On Greek Bailout Hopes:

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09 Apr
Daily Market Commentary

Stocks Hit New 2010 Highs!

Friday, April 9 2010
Market Commentary:

Stocks closed higher for the week and overcame the latest round of mild distribution as leading stocks continued to act well and the Dow Jones Industrial Average briefly touched 11,000. On Fridya, volume totals on the NYSE and on the Nasdaq exchange were reported lower compared to Thursday’s totals, revealing a lack of buying conviction from the institutional crowd after recent distributional pressure. Breadth was positive as advancers led decliners by a 13-to-6 ratio on the NYSE and by a 5-to-4 ratio on the Nasdaq exchange. New 52-week highs trumped new lows on both exchanges yet again. There were 48 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 from the 36 issues that appeared on the prior session.  A healthy crop of new leaders making new highs bodes well for any market rally, so the recent expansion in leadership has been a welcome post-holiday improvement. 

Monday’s Action:

Stocks closed higher on Monday as investors returned from a long holiday weekend and the latest round of stronger-than-expected economic data was released. Monday was also the first trading day after March’s non-farm payrolls report was announced. Stocks rallied around the world after the Labor Department reported the strongest monthly reading in payrolls since Q1 2007. Elsewhere, the ISM released its service index which topped analysts’ estimates. Separately, pending home sales unexpectedly rose which bodes well for the ailing housing market. The healthy housing data helped a slew of housing stocks rally as investors believe “the worst” is over concerning the housing market’s downturn.

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08 Apr
Daily Market Commentary

Stocks Rally On Healthy Retail Sales Data

Thursday, April 8, 2010
Market Commentary:

The major averages rallied on Thursday after a slew of US retailers reported stronger than expected same store sales. Volume totals on the NYSE and on the Nasdaq exchange were reported lower compared to Wednesday’s totals. Breadth was positive as advancers led decliners by about a 10-to-9 ratio on the NYSE, and by a 14-to-13 ratio on the Nasdaq exchange. New 52-week highs trumped new lows on both exchanges yet again. There were 36 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, lower from the 52 issues that appeared on the prior session.  A healthy crop of new leaders making new highs bodes well for any market rally, so the recent expansion in leadership has been a welcome post-holiday improvement.  However, the rising number of distribution days has raised some concerns.

Investor’s Digest A Slew Of Economic Data: Greece Woes, Jobless Claims & Healthy Retail Sales Data:

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