Bank Body Count

Two more banks fell this week:

- Carson River Community Bank, Nevada
- Ranier Pacific Bank, Washington

That brings to 22 the total for 2010. At 11 per month, that projects to 132 for the year, falling short of last year's total of 140. However, on the bright side, we are ahead of last year's pace, as the bulk of the failures occured in the second half of the year, so there is hope yet.

Earnings Schedule This Week

Here is the earnings schedule for this week. Of the stocks scheduled for tomorrow, I have been able to confirm only CFI.

Earnings Growth Charts

With 13 stocks from the earnings list reporting last week, I haven't had time to make graphs of all of them, but of the ones I have made, I am posting the 5 I think are most of note. The only change from last week's graphs is the addition of grid lines in the top part of the graph, to make it easier to see the difference between decelerating and negative earnings growth.

First is DMND, one of the two stocks reporting accelerating growth. Earnings growth has been pretty consistent for this stock, and price has reacted accordingly. This is one of the stocks at new all tme highs, a pretty good indicator of possible future leadership. It puked on this last report, but I suspect that was more due to it's announced acquisition of another food company than it's earnings numbers.
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SKT is a REIT that bounced back with an accelerating growth quarter after a negative quarter. Earning have not been terribly consistent, but this has manages tp get back near it's pre-crash high. It will need to get a little more consistent with it's numbers to stay on the list.

Using a linear scale makes these charts a little more readable, but can be misleading, especially on long term charts. TIS made a nice run in 2009, although not as dramatic as it looks on the chart. Earning growth has been slowing, but still pretty consistent. This appears to be building a base, and will probably break out if earnings growth speeds up again.

VIT has slowing, but still high, earnings growth. It does not have a long trading history, so it's not a surprise that is hit a new high in this rally. This stock is likely, barring a sudden collapse in earnings, to continue it;s move, so I will be watching it for entry points.

ALX is a REIT which, last time it reported, I blasted because I could not make heads or tails of the press release, and got conflicting numbers from different sources. I got different numbers again this quarter. The price chart shows it is in a long term down trend, as I suspect that the market also believes these guys are trying to hide something. They might be completely innocent, but I no longer trust anything coming out of these guys so they will be off the list next quarter.

Earnings Summary

There were 13 stocks on the earnings list reporting this week:

Reporting a quarter of accelerating growth: DMND, SKT

Reporting a quarter of decelearating growth: AFAM, AMED, EMCI, EXAC, FPO, MELI, TIS, RGR VIT

Reporting a quarter of negative growth: ALX, VSEC

The earnings spreadsheet will be uploaded tomorrow, the other two are already uploaded.

Relative Strength By Industry

Here is this week's industry data. the first column is the name of the industry, the second is this week's data, with the number being the percentage of stocks within that group that are in the top 25% of the 52 week range, the third column is the 4 week average, the fourth column the 10 week average, the fifth the differnce between the 4 week and 10 week, and the sixth the number of stocks that are in that industry. They are sorted by the difference between the two averages, a positive number meaning that the group is strengthening, a negative number meaning the group is weakening. I am currently working on a new spreadsheet that will track trends in industries, and hopefully will have that working soon.

Name	02/27/27	4 week avg	10 week avg	4 wk - 10 wk	Stocks
Photographic Equipment & Supplies	83.33	83.33	71.67	11.66	6
Sporting Goods	55.56	44.44	34.44	10	9
Insurance Brokers	50	54.17	44.74	9.42	12
Auto Parts Stores	80	55	46	9	5
Major Airlines	87.5	81.25	73.75	7.5	8
Medical Practitioners	75	62.5	55	7.5	4
Internet Service Providers	40	30	24	6	5
Discount, Variety Stores	76.92	67.31	61.54	5.77	13
Jewelry Stores	60	55	50	5	5
Sporting Goods Stores	87.5	75	70	5	8
Regional - Southwest Banks	36.67	32.5	27.67	4.84	30
Toys & Games	45.45	40.91	36.36	4.55	11
Real Estate Development	40	35.83	31.67	4.17	10
Restaurants	54.9	47.06	43.02	4.04	51
Regional - Mid-Atlantic Banks	22.11	20.53	17.82	2.7	95
Residential Construction	42.11	42.11	39.47	2.63	19
Broadcasting - Radio	83.33	75	72.5	2.5	12
REIT - Retail	84.09	69.32	66.82	2.5	44
Accident & Health Insurance	90.91	70.45	68.18	2.27	11
Regional - Northeast Banks	25.96	21.88	19.6	2.27	104
Networking & Communication Devices	55.56	51.39	49.32	2.07	18
Surety & Title Insurance	15.38	13.46	11.54	1.92	13
Small Tools & Accessories	70	52.5	51	1.5	10
Savings & Loans	21.67	20.63	19.25	1.38	120
Drug Manufacturers - Other	40.3	34.33	33.44	0.89	67
Information Technology Services	44.44	41.83	41.18	0.66	27
Property & Casualty Insurance	65.06	53.92	53.31	0.6	83
Grocery Stores	42.11	36.84	36.32	0.53	19
Recreational Goods, Other	50	43.75	43.22	0.53	8
Conglomerates	69.23	71.15	70.77	0.38	13
Regional - Southeast Banks	31.11	27.22	26.89	0.33	45
Regional - Midwest Banks	21.05	19.3	19.15	0.15	57
Aerospace/Defense - Major Diversified	100	100	100	0	2
Building Materials Wholesale	50	50	50	0	4
Housewares & Accessories	100	100	100	0	5
Long Distance Carriers	33.33	33.33	33.33	0	3
Music & Video Stores	50	62.5	62.5	0	4
Publishing - Books	57.14	57.14	57.14	0	7
Technical Services	41.18	32.35	32.35	0	17
Toy & Hobby Stores	0	0	0	0	1
Electronics Wholesale	72.22	62.5	62.55	-0.05	18
Processed & Packaged Goods	63.83	61.17	61.24	-0.07	47
Manufactured Housing	50	32.5	33	-0.5	4
Diagnostic Substances	19.35	18.55	19.07	-0.53	31
Regional Airlines	60	50	50.88	-0.88	15
Diversified Investments	41.3	35.86	36.76	-0.9	92
Medical Equipment Wholesale	75	68.75	69.72	-0.97	8
Marketing Services	66.67	63.89	65	-1.11	18
Trucks & Other Vehicles	33.33	33.33	34.44	-1.11	9
Computers Wholesale	33.33	41.66	42.89	-1.22	9
Multimedia & Graphics Software	26.32	26.97	28.29	-1.32	19
Recreational Vehicles	71.43	64.28	65.71	-1.43	7
Credit Services	73.81	66.07	67.52	-1.45	42
General Building Materials	57.69	52.38	53.92	-1.53	26
Food Wholesale	44.44	47.22	48.89	-1.67	9
Textile Industrial	66.67	63.89	65.56	-1.67	9
Water Utilities	38.46	36.54	38.46	-1.92	13
Movie Production, Theaters	30.77	28.85	30.82	-1.98	13
Lodging	66.67	56.67	58.67	-2	15
Electronic Equipment	44.44	43.86	45.88	-2.02	18
Basic Materials Wholesale	55.56	46.53	48.61	-2.08	9
Medical Appliances & Equipment	44.58	43.37	45.55	-2.18	83
Home Furnishings & Fixtures	76.47	73.53	75.88	-2.35	17
Auto Parts Wholesale	75	75	77.5	-2.5	4
Dairy Products	50	37.5	40	-2.5	6
Regional - Pacific Banks	26.98	21.2	23.85	-2.65	63
Biotechnology	25.15	21.53	24.4	-2.88	171
Medical Instruments & Supplies	46.25	44.1	47.01	-2.91	80
REIT - Hotel/Motel	70	60	63	-3	10
Apparel Stores	59.57	55.85	58.94	-3.08	47
Textile - Apparel Clothing	69.23	61.54	64.62	-3.08	26
Confectioners	66.67	58.33	61.67	-3.33	6
Oil & Gas Pipelines	100	94.36	97.74	-3.39	31
Rubber & Plastics	63.16	49.21	52.74	-3.52	19
Textile - Apparel Footwear & Accessories	66.67	65.48	69.05	-3.57	21
REIT - Healthcare Facilities	100	77.27	80.91	-3.64	11
Food - Major Diversified	80	80	84	-4	5
Mortgage Investment	11.11	13.25	17.27	-4.03	27
Cigarettes	71.43	64.29	68.33	-4.05	7
Printed Circuit Boards	70.59	61.76	65.88	-4.12	17
Medical Laboratories & Research	33.33	31.61	35.83	-4.22	21
Consumer Services	61.54	59.62	63.85	-4.23	13
Aerospace/Defense Products & Services	60	51.11	55.44	-4.33	45
Research Services	22.22	29.6	33.94	-4.34	27
Beverages - Soft Drinks	41.18	38.51	42.9	-4.39	17
Specialty Retail, Other	61.29	54.84	59.44	-4.6	31
Resorts & Casinos	29.41	23.53	28.24	-4.7	17
Railroads	62.5	47.98	52.72	-4.74	16
Staffing & Outsourcing Services	62.5	52.08	56.83	-4.75	24
Internet Information Providers	29.73	31.74	36.7	-4.96	37
Entertainment - Diversified	66.67	52.78	57.78	-5	9
General Entertainment	53.33	51.67	56.67	-5	15
Investment Brokerage - Regional	29.41	25	30	-5	17
Long-Term Care Facilities	42.86	39.28	44.28	-5	14
Specialized Health Services	55.56	45.37	50.46	-5.09	27
Diversified Computer Systems	44.44	42.22	47.43	-5.21	9
Diversified Electronics	53.19	47.25	52.52	-5.27	47
REIT - Residential	88.89	79.17	84.44	-5.28	18
Education & Training Services	50	39.22	44.52	-5.3	28
Broadcasting - TV	57.14	55.36	60.72	-5.36	14
Scientific & Technical Instruments	55.56	52.78	58.19	-5.42	72
Catalog & Mail Order Houses	60.87	53.26	58.7	-5.43	23
Oil & Gas Drilling & Exploration	53.57	49.24	54.78	-5.55	84
Department Stores	55.56	50	55.56	-5.56	9
Wireless Communications	40.43	33.74	39.45	-5.71	47
Independent Oil & Gas	60.22	53.23	59.02	-5.79	93
Life Insurance	55.17	50	55.86	-5.86	29
Business Equipment	52.94	52.94	58.82	-5.88	17
Communication Equipment	40	33.33	39.25	-5.91	75
Property Management	51.35	44.38	50.38	-6	37
Technical & System Software	57.69	53.85	60	-6.15	26
Internet Software & Services	46.34	40.85	47.19	-6.34	41
Money Center Banks	56.25	51.56	58.13	-6.56	16
Drugs Wholesale	50	50	56.67	-6.67	6
Security & Protection Services	37.5	35.94	42.61	-6.67	16
Industrial Electrical Equipment	43.14	39.21	45.94	-6.73	51
Shipping	28	23	29.75	-6.75	50
Semiconductor - Integrated Circuits	59.65	46.2	53.01	-6.8	57
Appliances	75	65.63	72.5	-6.88	8
Drug Related Products	47.62	44.05	50.95	-6.9	21
Computer Peripherals	53.13	44.34	51.48	-7.14	32
Rental & Leasing Services	69.57	64.13	71.31	-7.17	23
Telecom Services - Domestic	50	43.39	50.86	-7.47	20
Machine Tools & Accessories	70	67.5	75	-7.5	10
Sporting Activities	50	29.17	36.67	-7.5	6
Foreign Regional Banks	52.94	48.16	55.74	-7.57	17
Personal Services	42.86	38.1	45.71	-7.62	21
Business Software & Services	48.81	44.05	51.68	-7.63	84
Industrial Equipment & Components	57.14	49.11	56.92	-7.81	28
Diversified Communication Services	52.78	45.14	53.05	-7.92	36
Processing Systems & Products	25	18.75	26.77	-8.02	12
Farm Products	42.86	41.07	49.29	-8.21	14
Business Services	46.23	39.29	47.52	-8.23	106
Application Software	54.24	48.56	56.92	-8.37	59
Semiconductor - Specialized	48.84	43.6	52.11	-8.51	43
Meat Products	75	66.67	75.2	-8.53	12
Nonmetallic Mineral Mining	42.86	35.72	44.29	-8.57	7
Drug Delivery	27.78	25	33.6	-8.6	18
Heavy Construction	37.5	29.17	37.77	-8.6	24
Drug Manufacturers - Major	48	45	53.95	-8.95	25
Pollution & Treatment Controls	30	25	34	-9	10
Oil & Gas Equipment & Services	56	48.18	57.64	-9.46	50
Gaming Activities	27.27	15.91	25.45	-9.54	11
Diversified Machinery	53.33	46.49	56.15	-9.66	45
Oil & Gas Refining & Marketing	35.71	27.68	37.5	-9.82	28
Home Improvement Stores	50	62.5	72.5	-10	4
Investment Brokerage - National	33.33	26.39	36.67	-10.28	18
Wholesale, Other	50	43.75	54.03	-10.28	8
Waste Management	53.33	43.33	53.83	-10.5	15
Cleaning Products	71.43	75	85.71	-10.71	7
REIT - Diversified	44.44	43.05	53.89	-10.83	18
Copper	66.67	38.1	49.52	-11.43	6
Lumber, Wood Production	46.15	38.46	49.89	-11.43	13
Healthcare Information Services	36.36	22.73	34.17	-11.44	11
Management Services	25.71	25	36.44	-11.44	35
Auto Dealerships	45.45	40.91	52.36	-11.46	11
Home Health Care	60	57.5	69	-11.5	10
Auto Parts	61.76	57.35	68.91	-11.55	34
Health Care Plans	60	68.33	80	-11.67	15
Specialty Chemicals	48.84	40.12	51.85	-11.73	43
Personal Products	52.38	48.81	60.63	-11.82	21
Synthetics	39.13	35.87	47.83	-11.96	23
Specialty Eateries	80	80	92	-12	5
Gas Utilities	62.96	57.41	69.63	-12.22	27
General Contractors	22.22	22.22	34.44	-12.22	9
Security Software & Services	50	47.5	60	-12.5	10
Asset Management	41.46	37.2	49.76	-12.56	41
Chemicals - Major Diversified	77.78	75	87.92	-12.92	9
CATV Systems	47.37	34.21	47.37	-13.16	19
Computer Based Systems	16.67	25	38.33	-13.33	6
Semiconductor Equipment & Materials	63.41	53.66	67.23	-13.56	41
Gold	12.5	12.61	26.32	-13.71	48
Data Storage Devices	36.84	38.16	51.9	-13.74	19
Publishing - Periodicals	20	15.56	29.33	-13.78	10
Industrial Metals & Minerals	56.9	41.81	55.69	-13.88	58
Office Supplies	33.33	25	39.05	-14.05	6
Beverages - Wineries & Distillers	50	45.83	60	-14.17	6
Telecom Services - Foreign	25	26.83	41.12	-14.29	24
Farm & Construction Machinery	58.82	42.65	57.06	-14.41	17
Publishing - Newspapers	70	62.5	77	-14.5	10
Electric Utilities	43.86	35.21	50.16	-14.94	57
Beverages - Brewers	42.86	39.29	54.29	-15	7
Drugs - Generic	50	50	65	-15	8
Trucking	41.67	31.25	46.25	-15	24
Hospitals	58.33	43.75	58.94	-15.19	12
Semiconductor - Broad Line	65.22	45.65	60.87	-15.22	23
Agricultural Chemicals	42.86	30.36	45.71	-15.36	14
Diversified Utilities	59.26	47.22	62.59	-15.37	27
Foreign Money Center Banks	36.84	35.92	51.37	-15.45	19
Steel & Iron	51.52	40.15	55.76	-15.61	33
Industrial Equipment Wholesale	58.33	41.67	57.44	-15.77	12
REIT - Industrial	76.92	63.46	79.23	-15.77	13
Home Furnishing Stores	83.33	70.83	86.67	-15.83	6
Drug Stores	20	10	26	-16	5
Semiconductor- Memory Chips	55.56	52.78	68.89	-16.11	9
Auto Manufacturers - Major	62.5	62.5	78.75	-16.25	8
Cement	14.29	10.72	27.14	-16.43	7
Personal Computers	33.33	33.33	49.97	-16.63	3
Electronics Stores	33.33	33.33	50	-16.67	6
Air Delivery & Freight Services	50	35	52	-17	10
Air Services, Other	85.71	64.28	81.43	-17.14	7
Paper & Paper Products	66.67	59.37	77.03	-17.66	24
Advertising Agencies	33.33	33.33	51.11	-17.78	9
Metal Fabrication	41.67	35.42	53.33	-17.92	12
Foreign Utilities	37.5	34.38	53.75	-19.38	8
Information & Delivery Services	30	25	46	-21	10
Packaging & Containers	61.11	52.78	75	-22.22	18
REIT - Office	44.44	44.44	67.78	-23.34	9
Silver	22.22	13.89	43.33	-29.44	9
Tobacco Products, Other	50	50	80	-30	2
Major Integrated Oil & Gas	0	0	35.46	-35.46	11
Aluminum	0	0	47.5	-47.5	4