Canslim.net Morning Comment & 7 Stocks You Need To Know For Monday

Search by tag or site

TheMoneyBlogs
Home
About
Create your own blog
Contact us

My Home About Me

Millionaire Now! by Larry Nusbaum

This blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth".

Canslim.net Morning Comment & 7 Stocks You Need To Know For Monday

Posted on 06/11/2007 10:46:21 | Link | Post Comment

MORNING MARKET COMMENTARY
for Monday, June 11, 2007
Stocks Rally on Last Day of Tough Week
- Kenneth J. Gruneisen, CANSLIM Certified, Registered Principal, Source Capital Group, Inc. (Members NASD, SIPC)

After a very tough 3-day pullback, the major market averages found support near their respective 50-day moving average (DMA) lines and bounced on Friday. However, lighter lighter volume totals on both major US exchanges left questions about the conviction behind institutional investors' buying efforts. Breadth was positive, as advancers led decliners by greater than a 2-to-1 ratio on the NYSE and the Nasdaq exchange. The total number of new 52-week highs outnumbered new 52-week lows on Nasdaq, but new lows easily outnumbered new highs on the NYSE. Only 10 high-ranked companies from the CANSLIM.net Leaders List made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, lower than the 18 stocks that appeared on the prior session. Remember, for a market rally to continue, sufficient new leadership is always needed. (sign up is free)

STOCKS BREAKING ABOVE AND BELOW THEIR 50 DAY & 200 DAY M.A.

John Hussman's Market Climate for 6/11: "As of last week, the Market Climate for stocks was characterized by unfavorable valuations, tenuously favorable market action on the basis of market internals and broad price trends, and a combination of overvalued, overbought, overbullish, yields-rising conditions that have historically been associated with stock market returns below Treasury yields until those conditions have cleared."

Dr. Brett's blog: Market Perspective 6/11: Market Pullback on Interest Rate Rises: "Adjusted NYSE TICK readings were very week on Tuesday, Wednesday, and Thursday at -833, -870, and -1468. Going back to 2004 (N = 844 trading days), we've only had 14 occasions in which the three-day Adjusted TICK was -2000 or lower. Interestingly, the market tended to bounce five days after such broad weakness, with the S&P 500 Index (SPY) averaging a gain of .39% (9 up, 5 down). That compares favorably with the average five-day gain for the remainder of the sample of .18% (480 up, 350 down). When we look 15 days out, however, a different picture emerges. Following the very weak 3-day Adjusted TICK, SPY averaged a loss of -.16% (5 up, 9 down)--much weaker than the average 15-day gain of .56% (532 up, 298 down). This suggests that a bounce from such broad weakness tends to retrace prior to any sustained rally."

Wall Street Breakfast in Seeking Alpha by SA Editors on June 11, 2007
What you need to know in early trading today.

24/7 Wall St. - Media Digest 6/11/2007 Reuters, WSJ, NYTimes, FT, Barron's

Upgrades / Downgrades / Initiations

7 Stocks You Need to Know for Monday TradingMarkets.com

Stocks in focus for Monday MarketWatch

10 Top-Rated, Dividend-Paying Stocks - Investor's Business Daily

Bob Chapman's Train Wreck of the Week

Where Commodity Futures Prices Open Sunday Night

CANSLIM.net is designed to help investors develop a solid knowledge of the seven criteria of the CANSLIM™ stock selection method Investor's Business Daily founder William J. O'Neil explains in his book "How to Make Money in Stocks - A Winning System in Good Times or Bad" CANSLIM.net assists investors with the day-to-day application of this highly successful stock selection system of fundamentally strong companies that are setting up to buy or have broken out to the upside that are buyable with continuous updates throughout each trading day.A loud warning to the wise about Bear Markets: You absolutely do not buy breakouts during a bear market.

Prophet.net's technical analysis glossary