Barchart Stock Chart of the Day – November 20, 2008 Thursday, November 20, 2008 by Barchart Analyst of Barchart.com

Barchart Stock Chart of the Day – November 20, 2008

Everyone knows that in today’s economy the consumer is cutting back purchases. But one area where consumers appear not to be cutting back expenses is on their pets.

Today’s Chart of the Day, Petsmart (PETM) appeared on Barchart’s Daily What's Hot - Biggest Up Moves page with more than a 20% gain on the day after reporting earnings yesterday. With Q3 EPS up 22% from last year, driven by strong same store sales, PETM is flying and breaking a long term downtrend.



Barchart Opinions for PETM are:

    Short Term Indicators Average: 100% Sell
    Medium Term Indicators Average: 100% Sell
    Long Term Indicators Average: 100% Sell
    Overall Average: 100% Sell

Barchart Trend Spotter Signal: Sell since September 22, 2008

Sector Performance: PETM is a member of the Retail - Miscellaneous & Diversified sector, where it is the 6th best performing out of 29 stocks in the sector. While the sector as a whole has a weighted Alpha of -60.5%, PETM itself has a weighted Alpha of -43.1% indicating that it is somewhat stronger than the sector as a whole. To learn more about weighted Alpha, visit the Barchart Learning Center .

How we spotted this chart: PETM appeared on Barchart’s Daily What's Hot - Biggest Up Moves page today with a gain greater than 20%.

Recent Developments:

Petsmart (PETM) reported third quarter earnings on November 19 at 28 cents, up 22% from last year’s 23 cents and exceeding analysts’ expectations.

PETM reported that same store sales grew 5.4% in the quarter and reaffirmed its full-year guidance.

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About the author

The Barchart Analyst has over 35-years experience in the futures and stock markets, and is a former member of the Chicago Board of Trade. He has participated in an advisory role for many large corporations and has spent 19 years developing and back testing sophisticated trading systems for top Wall Street brokers and commodity trading firms.

The Barchart Analyst uses many of Barchart.com's free tools, such as Signals, Top Stocks by Sector, and Opinions, to scour the market for stocks on the verge of a major move. His commentary alerts readers to major market trends and provides promising trading ideas.

Comments may be forwarded to The Barchart Analyst via editor@insidefutures.com.

With a heritage dating back to 1934, Barchart.com, Inc. has substantial experience in meeting the informational needs of the financial industry. A full-service provider of futures and equities financial market data from all major exchanges, Barchart also provides comprehensive historical market data and research, custom web content, complex real-time charting applications, an extensive array of market tools and analytics, retail, and educational products.