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!

Continue reading

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:

Continue reading