Sharing a Daily Screen

...I decided to share last night's daily screen with my blog readers to give you an idea of the type of analysis that I perform every night after the markets close. The daily screens are formatted for the site but I pasted them here to resemble a blog post. Enjoy

Energy, Medical and Retail sectors lifted the market today with oil and gas stocks outperforming everyone. We managed to list a few energy related stocks below but the majority of the stocks making new highs or nearing a breakout didn’t completely qualify for the daily screen. Overall, sixty two energy related stocks made my initial fundamental screen with the main criteria set with EPS ratings of 70 and above and RS ratings at 70 and above with the stock making a new 52-week high. Ninety one stocks made a new 52-week high within the sector without using any fundamental screeners. Half of those stocks did it on above average volume but only three stocks made it to the final MSW daily screen. Possibly, a couple other stocks could have made the final cut but we will wait to see how the week plays out.

The medical sector also stepped forward with 42 total stocks making new highs with 24 of them passing the initial fundamental screens. Nine of those stocks passed the technical criteria with four of the stocks as members of the most recent weekly screen. Syneron Medical has made over 50 daily and weekly screens since the fall of 2004 but has made a few daily screens in recent months, listed under the “interesting stocks within 10% of a new high” section of our screens. ELOS, an MSW All-Star stock, has a total gain of 152% in less than one year (9 months). We also listed the pivot point at $39.10 on the recent weekly screen appearances. Laserscope (LSCP) and LCA Vision (LCAV) are both members of our All-Star stocks of 2004 and 2005. LCAV is nearing a 200% gain while LSCP is now above a 125% gain.

The markets were up today on volume larger than the quiet pre-holiday close last Friday but still well below average volume levels. We need a strong follow-through later this week with above average volume to make this advance mean anything. The strongest evidence of strength today was the daily new high/new low ratio which ended at 534-42. A ratio with new highs topping 534 is a positive sign, one that I always speak about. The next step is to look for consecutive 500+ days with large volume accompanying breakouts for both individual stocks and major market indices.

The most recent Weekly Screen Members are highlighted with blue text.

Medical:

ELOS – 39.89, a new 52-week high with a 4.48% rise on volume 259% larger than the 50-d m.a. Made a weekly screen in May and June with 20 additional weekly screens since October. Eleven total weekly screens in 2005 with more than 20 daily screens. Recently, the
daily screen occurrences have been in the “stocks within 10% section”. Our pivot point was listed as $39.10 on its recent weekly screen appearance. I will note that the stock fell from intraday highs ($42.22).

AFFX – 56.58, frequent daily screen member made a new high with a 5.19% gain

LCAV – 49.83, broke above $50 intraday, only to close slightly below on above average volume.

MATR – 33.60, sloppy daily screen but a new high on the weekly screen. Nice triple top breakout on the P&F.

CVH – 72.84, hit a low of $63.16 in mid-may, only to make a new high on above average volume. The ceiling of $72 was finally sliced after two prior failures.

KOSP – 69.11, up 3.82% on average volume. I wrote off Kos in early June but it has continued to trend higher. Very extended from the 200-d m.a.

LSCP – 43.25, new high with volume 17% lower than the 50-d m.a.

HITK – 33.39, seventh consecutive up-day but the volume stayed below the average

IVGN – 84.90, a 1.58% move to close within $0.10 of $85. Up $10 since the first weekly screen in 2005, May 2005.

Retail:

LUB – 12.24, Lubys is back on the daily screens this week. Up 3.2% on volume 101% larger than the 50-d m.a.

PEET – 35.13, familiar face making a new high with a 3.32% jump on volume 66% larger than the 50-d m.a.

HIBB – 39.30, new 52-week high but volume was weak.

CTRN – 20.37, recent IPO with an interesting chart setting up. Triple top breakout confirmed today above $19.50. First screen ever.

Energy:

GMXR – 15.27, up 5.53% on volume 135% larger than the 50-d m.a.

SWN – 52.90, a 2 for 1 split early last month. The stock is up 48% since the split. We screened the stock (weekly) two times in May. ($33.49)

UPL – 32.04, weekly screen member 14 times from February 2004 to February 2005. Ultra hasn’t made the screens until now, due to the sideways movement.

Others:

TS – 81.47, closed above the round number of $80. Closed at $58.76 on May 2, 2005 and moved above the $60 threshold the following day. Now it is halfway to $100. Screened in March and May and mentioned as a $60-$100 candidate.

RMCF – 22.40, new high on average volume.

Interesting Stocks within 10% of a New High:

CTRP – 54.79, cup, handle, breakout! Still below the 52-week high. RS line in new high territory.

FORD – 20.04, removed from the weekly screen this past week but it recovered the 50-d m.a. on above average volume. We will watch to see what happens. I have been shaken out of this stock in the past, only to see it recover and move higher. Not a big deal to reestablish a position if strength continues.