LANC

There was an error in the LANC chart from this morning. Here is the corrected chart.

Six More Banks Down

Here are the bloody details:
  - First Regional Bank, California
  - First National Bank, Georgia
  - Community Bank and Trust of Cornelia, Georgia
  - Florida Community Bank, Florida
  - Marshall Bank, Minnesota
  - American Marine Bank, Washington

That brings to 15 to total so far in 2010, and puts us on a pace to beat last year's total of 140.

Earnings Schedule This Week

Here is the earnings schedule I have so far for next week. I have not been able to confirm any dates yet, and will post any changes.

Earnings Growth Charts

We had 8 stocks from the earnings list reporting last week. after the disaster I had last week trying to post too many charts, I decided this week to limit it to the 4 stocks that reported positive earnings growth. As always, the black line is price, the black bars volume, blue is price relative to SPX, bottom red is EPS, and top red is earnings growth rate.

First up is GMCR, the only one to report accelerating earnings growth. This is actaully a pretty incredible stock, showing noo signs of even slowing down during the recession. Earnings growth is not spectacular, but very steady, and price reflects earnings nearly perfectly.  This is probably the strongest stock in the market right now.

This is LANC. I have a feeling I may have made an error somewhere, because this chart is not matching the data I had last night. It shows a bigger drop off in earnings than I calculated, so I will have to double check. However, price hasn't been adversely affected, and in fact it broke out to a new high. Price has been following earnings perfectly until this last report, reinforcing the idea that I made an error.

The is NEU, which also has price following earnings. Earnings growth slowed this quarter after some pretty dramatic growth. Price took a beating last week on the earnings, so the market may be anticipating continued slow growth.

SXE has had a trend of slowing growth since it topped out in 2007, and has been in a rather long consolidation since.  This does not yet have a 5 year track record on earnings, and the market does not appear to be anticipating anything, it is just waiting to see where this goes.

Of the other four stocks that reported, HWKN and SBSI both reported negative growth quarters, but have longer term uptrends in earnings and are probably not in any danger of not making the list next quarter. ALGT is in a short term down trend in earnings, but also should not have too much trouble making the next cut. OFG is in a very nasty down trend in earnings and probably will be cut from the list next quarter.

Relative Strength By Industry

Here is the combined industry post I mentioned this morning. The columns are, from left to right, The industry name, the percentage of stocks in the top 25% of the 52 week price range this week, the sum of all weeks I have so far, the moving 4 week average, the moving 10 week average, the difference between the 4 week and 10 week, and the number of stocks in each group. The table is sorted by difference between the 4 week and 10 week. Those with a positive number are trending higher in terms of the number of stocks in the group nearing 52 week highs, those with negative numbers are trending lower.

Name	01/30/10	SUM	4 week avg	10 week avg	4 wk - 10 wk	Stocks in Group
REIT - Retail	75	840.69	78.98	57.85	21.13	44
Residential Construction	31.58	563.18	46.05	26.84	19.21	19
Beverages - Wineries & Distillers	66.67	1150	79.17	61.67	17.5	6
Publishing - Newspapers	90	1260	90	73	17	10
Personal Computers	33.33	1299.66	66.58	49.97	16.61	3
Sporting Activities	33.33	466.67	45.83	30	15.83	6
Drug Delivery	38.89	578.09	45.84	30.97	14.87	18
Home Health Care	60	1025.54	77.5	63	14.5	10
Major Airlines	50	837.5	71.88	57.5	14.38	8
Marketing Services	66.67	1069.93	70.84	56.67	14.17	18
Discount, Variety Stores	46.15	1041.68	63.46	50	13.46	13
Money Center Banks	75	943.75	68.75	56.25	12.5	16
REIT - Hotel/Motel	60	990	72.5	60	12.5	10
Lodging	40	1038.78	65	53.24	11.76	15
Oil & Gas Equipment & Services	57.14	986.57	67.35	56.12	11.23	49
Farm & Construction Machinery	41.18	1058.83	70.59	59.41	11.18	17
Business Equipment	58.82	899.99	63.24	52.35	10.89	17
Food - Major Diversified	80	1395	90	79.5	10.5	5
Rubber & Plastics	52.63	865.28	61.38	51.05	10.33	19
Hospitals	41.67	1088.06	68.75	58.71	10.04	12
Computer Based Systems	33.33	666.66	50	40	10	6
Textile - Apparel Footwear & Accessories	66.67	1209.53	76.19	66.19	10	21
Sporting Goods Stores	62.5	1062.5	68.75	58.75	10	8
Tobacco Products, Other	100	1500	100	90	10	2
Networking & Communication Devices	44.44	846.2	51.39	41.4	9.99	18
Credit Services	64.29	1122.41	73.22	63.64	9.58	42
Textile Industrial	55.56	911.1	69.45	60	9.45	9
Cleaning Products	100	1457.11	96.43	87.14	9.29	7
Dairy Products	50	550.01	45.83	36.67	9.16	6
REIT - Office	88.89	1040.49	86.11	77.09	9.02	9
Sporting Goods	33.33	499.95	33.33	24.44	8.89	9
Apparel Stores	44.68	1127.55	63.83	55.11	8.72	47
Security Software & Services	50	1310	72.5	64	8.5	10
Textile - Apparel Clothing	61.54	1165.82	71.16	62.69	8.47	26
Health Care Plans	73.33	1080	88.33	80	8.33	15
Drugs Wholesale	66.67	1083.35	66.67	58.34	8.33	6
Diversified Computer Systems	40	1005.46	55	46.91	8.09	10
Auto Dealerships	27.27	950.01	59.09	51	8.09	11
Independent Oil & Gas	50.54	1006.5	65.33	57.35	7.98	93
Resorts & Casinos	23.53	734.55	36.76	28.82	7.94	17
Lumber, Wood Production	38.46	855.47	57.69	49.83	7.86	13
Broadcasting - TV	64.29	1080.6	66.08	58.57	7.51	14
Research Services	36	497.2	39.19	31.73	7.46	25
Oil & Gas Refining & Marketing	28.57	784.14	46.43	39.02	7.41	28
Home Furnishings & Fixtures	76.47	1111.77	77.94	70.59	7.35	17
Trucks & Other Vehicles	22.22	677.72	41.67	34.44	7.23	9
Air Delivery & Freight Services	60	1074.54	65	58	7	10
Manufactured Housing	40	430.01	35	28	7	5
Heavy Construction	16.67	727.8	43.75	36.9	6.85	24
Restaurants	38	690.55	41.36	34.58	6.78	50
Long-Term Care Facilities	28.57	835.7	48.21	41.43	6.78	14
Internet Software & Services	41.46	940.67	53.31	46.56	6.75	41
Medical Equipment Wholesale	66.67	1344.49	72.23	65.56	6.67	9
Machine Tools & Accessories	60	1180	82.5	76	6.5	10
Investment Brokerage - National	27.78	796.71	43.06	36.73	6.33	18
Scientific & Technical Instruments	45.83	971.2	62.5	56.18	6.32	72
Shipping	32	571.56	38	31.73	6.27	50
Drugs - Generic	50	1300	75	68.75	6.25	8
Auto Parts Wholesale	75	1525	81.25	75	6.25	4
Semiconductor Equipment & Materials	36.59	1259.99	75.71	69.57	6.14	41
REIT - Diversified	50	830.64	59.72	53.65	6.07	18
Diversified Investments	31.18	676.2	39.99	33.99	6	93
Oil & Gas Drilling & Exploration	45.78	965.93	59.94	53.98	5.96	83
Regional - Mid-Atlantic Banks	21.05	183.81	17.98	12.25	5.73	95
Staffing & Outsourcing Services	48	977.55	60	54.29	5.71	25
Industrial Metals & Minerals	31.03	1131.35	67.24	61.55	5.69	58
Aerospace/Defense Products & Services	52.27	941.91	59.66	54.01	5.65	44
Foreign Utilities	50	1222.5	68.75	63.25	5.5	8
Security & Protection Services	29.41	709.56	47.06	41.58	5.48	17
Gaming Activities	27.27	481.77	31.82	26.36	5.46	11
Accident & Health Insurance	45.45	1152.76	68.18	62.73	5.45	11
Movie Production, Theaters	23.08	542.85	33.93	28.57	5.36	13
Data Storage Devices	42.11	1161.09	61.84	56.64	5.2	19
Regional - Pacific Banks	25	325.8	27.57	22.47	5.1	64
Meat Products	75	1461.09	80.87	75.81	5.06	12
Industrial Equipment Wholesale	41.67	985.85	67.31	62.31	5	12
Medical Practitioners	50	1050	50	45	5	4
Confectioners	66.67	1150.04	66.67	61.67	5	6
Business Software & Services	48.81	1061.98	57.82	52.9	4.92	84
Wholesale, Other	50	1087.53	63.54	58.75	4.79	8
Savings & Loans	20	285.82	20.21	15.67	4.54	120
Specialty Chemicals	46.51	1004.46	61.27	56.76	4.51	43
Life Insurance	55.17	1070.39	62.07	57.71	4.36	29
Processed & Packaged Goods	55.32	1136.53	62.77	58.44	4.33	47
Air Services, Other	85.71	1514.26	92.86	88.57	4.29	7
Technical & System Software	57.69	1182.61	65.38	61.15	4.23	26
Semiconductor - Integrated Circuits	31.03	975.09	57.33	53.18	4.15	58
Investment Brokerage - Regional	29.41	761.92	35.29	31.18	4.11	17
Auto Parts	58.82	1272.96	77.21	73.4	3.81	34
Home Improvement Stores	75	1300	81.25	77.5	3.75	4
Regional - Southeast Banks	28.89	352.6	27.22	23.56	3.66	45
Electronic Equipment	38.89	874.26	48.61	45	3.61	18
Oil & Gas Pipelines	100	1822.08	100	96.45	3.55	31
Internet Information Providers	27.78	841.87	40.97	37.43	3.54	36
Drug Manufacturers - Other	29.85	616.38	33.83	30.29	3.54	67
Electronics Wholesale	58.82	1293.71	64.71	61.24	3.47	17
Semiconductor - Specialized	37.21	1016.98	57.52	54.08	3.44	43
Computer Peripherals	39.39	966.57	56.42	53.01	3.41	33
Diversified Electronics	43.48	963.11	56.08	52.75	3.33	46
Diagnostic Substances	13.33	419.75	21.08	17.78	3.3	30
Printed Circuit Boards	58.82	1223.55	69.12	65.88	3.24	17
Personal Services	52.38	989.76	51.19	47.98	3.21	21
Diversified Communication Services	47.22	1101.84	57.64	54.43	3.21	36
Appliances	75	1366.66	78.13	75	3.13	8
Catalog & Mail Order Houses	52.17	1166.45	63.04	60	3.04	23
Regional - Southwest Banks	30	343.33	25	22	3	30
Consumer Services	61.54	1241.67	65.39	62.5	2.89	13
Recreational Goods, Other	42.86	850.03	42.86	40	2.86	7
Regional - Midwest Banks	21.43	224.03	19.64	16.79	2.85	56
Synthetics	43.48	917.39	55.44	52.61	2.83	23
General Contractors	22.22	794.41	41.67	38.89	2.78	9
Biotechnology	19.41	495.41	27.13	24.39	2.74	170
Drug Manufacturers - Major	56	1013.27	62	59.29	2.71	25
Medical Appliances & Equipment	37.35	808.24	45.95	43.26	2.69	83
Business Services	41.28	985.46	52.22	49.55	2.67	109
General Building Materials	48.15	918.53	55.56	52.96	2.6	27
Industrial Equipment & Components	35.71	993.93	60.78	58.19	2.59	28
Specialized Health Services	46.43	1040.86	56.25	53.74	2.51	28
Broadcasting - Radio	75	1308.35	70.84	68.33	2.51	12
Building Materials Wholesale	50	780	50	47.5	2.5	4
Home Furnishing Stores	66.67	1783.32	95.83	93.33	2.5	6
Drug Related Products	57.14	994.77	57.14	54.76	2.38	21
Surety & Title Insurance	7.69	261.51	11.54	9.23	2.31	13
Computers Wholesale	44.44	1092.2	44.44	42.22	2.22	9
Industrial Electrical Equipment	33.33	981.29	51.12	49	2.12	51
CATV Systems	36.84	1093.7	55.26	53.16	2.1	19
Paper & Paper Products	75	1516.24	88.54	86.53	2.01	24
REIT - Residential	83.33	1321.89	88.89	86.9	1.99	18
Processing Systems & Products	16.67	591.7	33.34	31.41	1.93	12
Packaging & Containers	77.78	1610.81	88.89	86.99	1.9	18
Auto Manufacturers - Major	75	1575	90.63	88.75	1.88	8
Regional - Northeast Banks	17.31	310.03	18.75	16.91	1.84	104
Management Services	25.71	769.25	42.54	40.75	1.79	35
Semiconductor- Memory Chips	77.78	1522.26	80.56	78.89	1.67	9
Information Technology Services	32.14	853.52	41.47	39.8	1.67	28
Communication Equipment	30.26	833.83	43.26	41.65	1.61	76
REIT - Industrial	84.62	1207.71	88.47	86.93	1.54	13
Real Estate Development	33.33	513.32	30.83	29.33	1.5	9
Office Supplies	33.33	788.69	47.62	46.19	1.43	6
Property & Casualty Insurance	44.58	986.5	51.51	50.11	1.4	83
Wireless Communications	33.33	820.92	42.71	41.32	1.39	48
REIT - Healthcare Facilities	72.73	1318.21	84.09	82.73	1.36	11
Diversified Machinery	47.83	1144.28	62.37	61.04	1.33	46
Property Management	42.11	1011.13	53.95	52.63	1.32	38
Medical Instruments & Supplies	46.15	856.9	49.04	47.72	1.32	78
Semiconductor - Broad Line	34.78	1199.01	67.39	66.09	1.3	23
Education & Training Services	34.48	874.5	46.61	45.5	1.11	29
Gas Utilities	62.96	1333.02	75.93	74.84	1.09	27
Grocery Stores	31.58	816.69	36.85	35.79	1.06	19
Toys & Games	27.27	564.49	31.82	30.91	0.91	11
Photographic Equipment & Supplies	66.67	1050.63	62.5	61.67	0.83	6
Publishing - Periodicals	33.33	587.76	37.78	37.11	0.67	9
Medical Laboratories & Research	25	764.04	37.5	36.87	0.63	20
Asset Management	46.34	1069.33	57.32	56.72	0.6	41
Foreign Money Center Banks	45	1250.01	62.5	62.02	0.48	20
Application Software	46.67	1234.18	61.67	61.22	0.45	60
Specialty Retail, Other	53.13	1222.63	62.5	62.05	0.45	32
General Entertainment	40	989.09	60	59.57	0.43	15
Trucking	37.5	793.26	52.08	51.67	0.41	24
Metal Fabrication	33.33	1116.68	64.58	64.17	0.41	12
Regional Airlines	40	927.5	50.63	50.25	0.38	15
Agricultural Chemicals	21.43	1050.01	57.15	57.14	0.01	14
Internet Service Providers	20	740	20	20	0	5
Housewares & Accessories	100	1775	100	100	0	5
Specialty Eateries	100	1740	100	100	0	5
Advertising Agencies	44.44	1155.58	61.11	61.11	0	9
Toy & Hobby Stores	0	200	0	0	0	1
Recreational Vehicles	57.14	1114.28	64.29	64.29	0	7
Long Distance Carriers	33.33	633.27	33.33	33.33	0	3
Aerospace/Defense - Major Diversified	100	1500	100	100	0	2
Personal Products	57.14	1142.66	67.86	67.92	-0.06	21
Small Tools & Accessories	40	970	47.5	48	-0.5	10
Electric Utilities	44.64	967.88	58.48	59.05	-0.57	56
Cement	14.29	771.44	32.15	32.86	-0.71	7
Jewelry Stores	40	980	45	46	-1	5
Telecom Services - Foreign	44	1116.27	50.04	51.27	-1.23	25
Publishing - Books	57.14	1128.56	57.14	58.57	-1.43	7
Technical Services	23.53	671.3	30.88	32.35	-1.47	17
Multimedia & Graphics Software	25	525	30	31.5	-1.5	20
Waste Management	46.67	964.17	60	61.5	-1.5	15
Conglomerates	69.23	1407.67	71.15	73.08	-1.93	13
Railroads	41.18	967.25	54.41	56.47	-2.06	17
Insurance Brokers	38.46	850.82	38.46	40.58	-2.12	13
Entertainment - Diversified	55.56	1272.26	61.12	63.34	-2.22	9
Farm Products	28.57	1252.36	57.14	59.4	-2.26	14
Steel & Iron	27.27	1156.19	62.12	64.85	-2.73	33
Rental & Leasing Services	60.87	1329.55	72.83	75.65	-2.82	23
Copper	28.57	1399.97	57.14	60	-2.86	7
Information & Delivery Services	50	1155.54	55	58	-3	10
Drug Stores	20	894.29	35	38	-3	5
Pollution & Treatment Controls	20	790	40	43	-3	10
Beverages - Soft Drinks	31.25	994.98	43.75	46.83	-3.08	16
Chemicals - Major Diversified	77.78	1718.06	94.79	97.92	-3.13	9
Healthcare Information Services	18.18	934.1	39.77	43.41	-3.64	11
Diversified Utilities	55.56	1156.09	68.52	72.22	-3.7	27
Telecom Services - Domestic	38.1	994.16	52.38	56.24	-3.86	21
Water Utilities	38.46	601.27	40.38	44.29	-3.91	13
Nonmetallic Mineral Mining	28.57	1098.21	50	54.29	-4.29	7
Basic Materials Wholesale	37.5	948.6	46.88	51.25	-4.37	8
Department Stores	44.44	1300.03	55.56	60	-4.44	9
Electronics Stores	50	1166.72	58.34	63.34	-5	6
Mortgage Investment	23.08	563.75	18.77	23.98	-5.21	26
Foreign Regional Banks	35.29	1323.54	57.36	62.98	-5.62	17
Food Wholesale	44.44	1000.01	47.22	53.34	-6.12	9
Beverages - Brewers	42.86	1435.73	60.72	67.14	-6.42	7
Cigarettes	57.14	1333.33	67.86	74.76	-6.9	7
Auto Parts Stores	20	900	35	42	-7	5
Major Integrated Oil & Gas	9.09	1231.86	54.55	61.82	-7.27	11
Music & Video Stores	75	1075	56.25	67.5	-11.25	4
Gold	6.38	1154.76	34.04	47.66	-13.62	47
Silver	0	1522.24	55.56	72.22	-16.66	9
Aluminum	0	1475	68.75	87.5	-18.75	4

Earnings Summary

It was a busy week on the earnings list, and the results were pretty disappointing:

Reporting a quarter of accelerating earnings growth - GMCR

Reporting a quarter of decelerating growth - LANC, NEU, SXE

Reporting a quarter of negative growth - ALGT, HWKN, OFG, SBSI

The relative strength spreadsheet is now done. The earnings spreadsheet will probably be uploaded early tomorrow.

Relative Strength Scans

Here are the results of this week's relative strength scan. The first 3 columns are the tickers that are held over from last week's list, the next 3 columns are the new stocks of this week's list, and the last 2 columns are the stocks that dropped off. There were about 2100 stocks total that are within the top 25% of the 52 week range, a slight drop from previous weeks.

Hold-overs from last week				New this week			Drop offs
AAPL	ELX	RMBS		ACF	INTC		AEIS	LLTC
ACL	EPB	SGI		ACOR	ISRG		AET	LRCX
AEC	ETP	SHLD		AIZ	IVR		AM	MAIL
AHD	F	SHW		AKS	JPM		AMAT	MAKO
AMED	FHN	SKT		ALGT	KITD		ARE	MAT
AMLN	FINL	SLXP		ALTR	LFT		ARST	MDRX
AMMD	FMBI	SNDK		APKT	LIFE		ATI	MEA
ANW	FNSR	SORL		BBT	LTD		BBBB	MSTR
AOI	FRO	SPA		BHI	LYV		BDN	NEP
APL	FUR	SSYS		BKCC	MGM		CAGC	NVMI
ARB	HUM	STST		BPFH	MTW		CALM	NYT
ASEI	IMAX	SXCI		BRKR	NFLX		CCME	OEH
ASYS	JAZZ	TASR		BWA	NKTR		CGEN	PDC
ATML	JEF	THC		BWLD	NVE		CHOP	PDCO
BBBY	KFN	TIF		CLB	NVLS		CI	PVA
BIDU	KFT	TK		CMG	NWL		CKSW	PXD
BMR	LEN	TLP		CNU	PAY		CMFO	QLGC
BMRN	LGCY	TMRK		COF	PCX		CNK	QSFT
BPW	LXP	TPX		COH	PLXS		CPLP	QSII
BRY	MAPP	TRGL		COLB	PRXL		CYBS	RBN
CAKE	MMR	TXRH		CPO	PTEN		CYD	RIG
CEU	MNI	TXT		CPWR	PXP		CYH	RSO
CLFC	MNKD	UTHR		CRS	RF		EDU	SAFM
CLNE	MNTA	VIT		CTXS	SANM		FAST	SHAW
CMA	MR	VOLC		CVD	SBGI		GFRE	SNX
CPT	MRX	VVTV		CXO	SBNY		GOOG	SPG
CPX	MSPD	WERN		DECK	SCHW		GPRE	SWC
CQP	MTB	WHX		DXCM	SHLM		GTI	TC
CREE	MU	WLP		EBAY	SLM		HMA	TIE
CRL	NGLS	WPRT		EGP	STX		HMIN	TSN
CRM	NLX	WSM		EMC	TCBI		HOG	TWI
CRUS	NRF	XRTX		EQIX	TE		HS	TXI
CTEL	NWBI	XTEX		EVVV	TGB		HTCH	UMPQ
CVBF	OSIS	XTXI		FCS	VMW		ICE	UVE
CVVT	OZRK	YUII		FIT	WBS		ICLK	VITC
CYTX	PETS			FITB	WDC		IDTI	VNR
DAL	PFCB			FLIR	WLT		INSP	VRX
DCT	PKI			FSC	WMB		IOC	WOR
DPZ	REXX			GOV	XL		IPSU	WRC
DRH	RICK			HAL	XLNX		KGS	WRI
				HBAN	ZION		KHD	WRLD
				HRB	ZRAN		KNDI	WSO
				ICLR			KNX

The spreadsheet will be uploaded later today. I may combine the "relative strength by industry" posts, so I will post it when I have the data plugged in to my database, which may be today, but I'm not counting on it.