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

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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 Thursday

Posted on 06/07/2007 11:46:00 | Link | Post Comment

MORNING MARKET COMMENTARY
- Thursday, June 7th, 2007
Inflation Jitters Shake the Market
- Kenneth J. Gruneisen, CANSLIM Certified, Registered Principal, Source Capital Group, Inc. (Members NASD, SIPC)

The major averages got smacked on Wednesday as inflation concerns were a contributing catalyst sending US stocks to their largest back-to-back declines since March. Even though the market averages fell, volume patterns were favorable. Volume versus the prior session totals were about the same to slightly lower on the NYSE and lower on the Nasdaq exchange, which helped the market avoid another distribution day. Breadth was decidedly negative, however, as decliners trumped advancers by more than a 4-to-1 ratio on the NYSE and by more than a 2-to-1 ratio on the Nasdaq exchange. The total number of new 52-week highs on the NYSE and on the Nasdaq still outnumbered new 52-week lows, however the totals were closer than they have been in many weeks to tipping in favor of new lows exceeding new highs. There were only 20 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, sharply lower than the 62 stocks that appeared on the prior session. 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.

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

Stocks to Watch: Stocks in focus for Thursday

Upgrades / Downgrades / Initiations from MarketWatch

Wednesday's Top Biotech & Medical Stocks

Chinese ETFs Hold Up Despite Drop At Home
Investors Business Daily

7 Stocks You Need to Know for Thursday TradingMarkets.com
Thursday's list includes: DSW, ADC Telecom and Science Applications.

7 Trading Ideas for Today & 7 Options You Need to Know for Today

See the rating of your stocks from TheStreet.com

The Wall Street Journal as mini-Bloomberg: The Markets Data Center has information on everything from currencies to commodities, from indexes to calendars, from past and future POs and their performance to even a really good Economic Indicators Archive. The Journal even has a mutual fund screener. It is weak on company screeners but Yahoo Finance has one.

Portable Alpha's Asset Allocation –Bearish since May 15th. AAS Model Portfolios have 25% cash allocations and 75% longs, finding Alpha in Energy, Natural Resources and Basic Materials.

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.

Prophet.net's technical analysis glossary

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