Monday, April 14, 2008

NASDAQ Technical Picture - Bearish Rising Wedge



An ugly end to a bad week for the bulls. King Kong's (GE) big earnings miss and lowered guidance sent the markets lower Friday. The rally looks dead for now as the rising wedge pattern could lead to lower highs and lows. But Friday's volume lacks conviction. Focus on earnings.

Companies reporting earnings the week of April 14th-18th include: Monday: ETN, GWW, ELS, INFY, and STLY... Tuesday: ADTN, FRX, GMTN, IIIN, JNJ, MTB, MI, NTRS, PII, RF, STT, USB, CHB, CSX, INTC, RLRN, STX, and SORC... Wednesday: ABT, AMB, BMI, KO, ITW, JCI, JPM, NITE, LUFK, MTOX, EDU, PJC, STJ, WFC, WWW, ATLR, ATR, AVCT, CAVM, CNW, CCK, DTLK, EBAY, GILD, GKK, IBM, ISIL, KNL, LEG, PLCM, SPSN, and UFPI... Thursday: AMFI, BK, BAX, BBT, CHKP, CIT, CMA, CY, DHR, FCS, HOG, HNI, RX, IGT, MAR, LSTR, KEY, MER, NYT, NOK, NUE, PFE, RS, SLM, LUV, SPWR, SVU, AMTD, UTX, AMD, COF, CBST, ETFC, ESLR, GOOG, ISRG, SNDK, SYK, TPX, ZION and WSO... Friday: CAT, C, HON, MAN, PRSP, SLB, WB, WL, and XRX.

Stocks over $5 posting the largest percentage loss over the last five sessions include: PTRY -38.7%, DCR -34.1%, TWB -27.3%, PMII -27.3%, RIV -27.2%, NKTR -25.1%, CIT -21.8%, SMCI -21.2%, FMCN -20.7%, XXIA -20.6%, PRO -19.9%, BZ -19.2%, VCBI -19.1%, CALM -19.1%, SCSC -18.7%, AMIE -18.7%, WH -18.4%, AIR -18.2%, MKTX -17.9%, LNG -17.9%, FED -17.8%, SDXC -17.6%, SSI -17.3%, TONE -17.3%, GRMN -17.1%, INTV -16.7%, SVVS -16.6%, LEN -16.5%, PLCE -16.5%.

Stocks over $5 posting the largest percentage gain over the last five sessions include: MLNM 50.9%, CVP 39.2%, FCSX 33.6%, DXCM 31.1%, NOG 25.5%, GENC 25.1%, IKN 24.1%, ICXT 23.9%, APOG 23.6%, PDLI 22.5%, NTRI 20.5%, TITN 19.7%, BEXP 17.8%, PODD 17.7%, SYNA 16.9%, NWA 16.8%, LIFC 16.8%, CLR 16.5%, TZIX 16.2%, DAL 15.8%, OSTK 14.9%, TRA 14.5%, LAYN 14.1%, IMMR 13.6%, CRY 13.4%, DPTR 13.1%, DMLP 12.6%, AIRV 12.3%, FEED 12.3%, FCFS 11.5%, ENG 11.6%, LNDC 11.2%, UCR 11.2%, ISLN 10.8%.

The co's that beat February Same Store Sales estimates include (listed according to the magnitude of the beat): Buckle (BKE) +20.9% vs. +12.5% consensus, stock gapped up 2.9% to open at $46.25 and closed up 0.4% to $45.15... BJ's Wholesale Club (BJ) +6.0% vs. +2.9% consensus, stock gapped up 1.9% to $36.00 and closed up 4.0% to $36.76... Costco Wholesale (COST) +7.0% vs. +5.5% consensus, stock gapped up 0.2% to open at $66.17 and closed up 0.7% to $66.52... Aeropostale (ARO) +2.5% vs. +1.1% consensus, stock gapped up 0.5% to open at $26.28 and closed up 6.5% to $27.85... Hot Topic (HOTT) -3.5% vs. -4.3% consensus, stock gapped up 0.2% to open at $4.41 and closed up 9.5% to $4.82... The co's that missed February Same Store Sales ests include (listed according to the magnitude of the miss): Gap (GPS) -18.0% vs. -8.1% consensus, stock gapped down 0.2% to open at $18.85 and closed down 2.2% to $2.70... Stage Stores (SSI) -10.3% vs. -2.5% consensus, stock gapped down 8.4% at $14.05 and closed down 8.5% to $14.00... Saks (SKS) -2.9% vs. +3.5% consensus, stock gapped down 1.8% to open at $12.30 and closed up 1.5% to $12.71... Pacific Sunwear of California (PSUN) -8.0% vs. -1.7% consensus, stock gapped down 2.3% to open at $12.30 and closed up 2.4% at $12.89... Chico's FAS (CHS) -20.7% vs. -14.5% consensus, stock gapped down 0.8% to open at $6.35 and closed down 0.6% to $6.36.

Courtesy of Briefing.com

No comments: