Recovery Continues On 1-Year Anniversary of Bear Market Lows
Amid speculation the economy will continue to recover from the worst recession since WWII, the major averages ended slightly higher on the session marking the one year anniversary of the 2009 bear-market low close for the benchmark S&P 500 Index. Volume, a critical gauge of institutional demand, was reported higher than the prior session on the Nasdaq exchange and on the NYSE. Advancers led decliners by about a 5-to-4 margin on the NYSE and on the Nasdaq exchange.
The benchmark S&P 500 is up a very impressive +69% since hitting a 12-year low of 666.79 last March. This has been the largest 12-month rally for the benchmark average since the Great Depression. Despite that impressive feat, the S&P 500 is still down -28% from its October 2007 high of 1,576. It is also important to note that the vast majority of stocks that helped the major averages enjoy strong gains last year were low ranked stocks that bounced from egregiously oversold levels (i.e. Citigroup went from $0.97 to $5.43).
Only recently have we begun to see a large number of high-ranked stocks trigger fresh technical buy signals as they breakout of solid bases which is a very healthy sign. Here is an interesting fact: As of Monday's close, 489 of the 500 stocks in the S&P 500 Index are higher since the March lows. The average gain: +115.6%. In addition, all 30 of the Dow Jones Industrial Average components are up, and a whopping 99 of the 100 stocks in the Nasdaq 100 Index are up.
Since last the March 1, 2010 follow-through-day (FTD) the market averages and a batch of leading stocks have steadily rallied, which is a healthy sign. The fact that we have not seen any serious distribution days since the FTD bodes well for this nascent rally. It is also a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed, the window is open to start buying high quality breakouts. Trade accordingly.
Profiles: TechniScan Inc. (TSNI) Sunday, February 28 @ 13:23:07 MST by admin (144 reads)
Based in Salt Lake City, TechniScan, Inc. is a medical device company engaged in the development and commercialization of a non-invasive imaging tool designed to provide physicians with automated ultrasound images of the human breast.
The system uses a process called Warm Bath Ultrasound (WBU ™) to provide physicians with automated, 3D, ultrasound images of the physical structures within the breast. TechniScan's WBU™ imaging device is limited by U.S. law to investigational use unless, and until, cleared by the FDA.
Evcarco Inc (EVCA) Friday, February 19 @ 13:25:21 MST by admin (180 reads)
EVCARCO (OTCBB: EVCA) (www.evcarco.com) is the first automotive retail group dedicated to deploying a coast-to-coast network of eco-friendly dealerships and vehicles.
EVCARCO is bringing to market the most advanced clean technologies available in plug-in electric, pre-owned hybrids, hydrogen fuel injection, and alternative fuel vehicles. EVCARCO is developing a dealer network allowing growth into most US States by 2012.
Profiles: Nexicon Inc New (NXCO) Wednesday, February 17 @ 09:04:46 MST by admin (144 reads)
Nexicon Inc New (NXCO)
Headquartered in Los Angeles, CA, Nexicon (PNK: NXCO) delivers next-generation digital media protection and business intelligence solutions to many industries, including the motion picture and music industries, software and games, publishing, ISPs, financial services and government.
Profiles: Asyst Technologies Inc. (ASYTQ) Monday, February 08 @ 07:42:34 MST by admin (208 reads)
Asyst Technologies Inc. (ASYTQ)
The Company develops, manufactures, sells and supports integrated hardware and software automation systems primarily for the semiconductor and secondarily for the flat panel display manufacturing industries.(Crossing Automation, Inc.)
Profiles: RMD Entertainment Group (RMDM) Thursday, February 04 @ 17:51:50 MST by admin (123 reads)
RMD Entertainment Group (RMDM)
Beijing Innotrek Technology Co., Ltd, located in the high technological industrial park of Beijing, is an advanced technological enterprise recognized by Beijing Municipal Science and Technology Commission. Beijing Innotrek specializes in the research and development of advanced broadband technology, especially in the area which does not require massive wiring construction
Profiles: Raven Biofuels International Corp. (RVBF) Thursday, January 28 @ 07:56:53 MST by admin (116 reads)
Raven Biofuels is a clean energy technology company focused on developing technologies to produce transportation fuels and green chemicals from waste or biomass. Raven plans to build integrated biorefineries using proprietary technology.
Signature Devices Inc. (SDVI) Saturday, January 16 @ 15:43:07 MST by admin (1479 reads)
Based in Redwood City, Calif., Signature Devices, Inc. creates, develops and manufactures advanced information technology, including computer systems, software and electronics products. One of the Company's premier technologies includes a blend of hardware and software for image generation technology used in video games and simulations.
Profiles: Chromocure Inc. (KKUR) Wednesday, January 06 @ 10:16:29 MST by admin (216 reads)
Chromocure Inc.
ChromoCure develops and provides proprietary cancer detection systems. The Company owns its technology and provides its systems on a revenue sharing basis.
Don't have an account yet? You can create one. As a registered user you have some advantages like theme manager, comments configuration and post comments with your name.
DISCLAIMER & RISK DISCLOSURE: First Equity Group Inc Inc (StockMarketNewsAlert.com) and our affiliates ("our companies") are not registered investment advisers or broker/dealers. Our companies make no commitment that the purchase of securities of companies profiled or otherwise mentioned in our websites are suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. We profile selected companies on our site. Most of these companies provide compensation for profile coverage, and that can be found in the disclosure on the bottom of the first page of any profile. This is at the bottom of the profile information on that stock. Specific questions on membership or profiles can be obtained by writing the Publisher at: info@StockMarketNewsAlert.com.
