| Weekend Report |
| April 10, 2005 |
Hi Everybody: Another tough week although most indices closed up. But volume is weakening…Friday was only 1.53 billion on the Naz. The 5 day average was only 1.66 billion. In fact, the Naz weekly volume was the lowest since the week ending 10/1/04 excluding holiday shortened weeks(including Columbus Day week even though the market was open) and the last week of ’04. One could surmise that buyers are no where to be found. But, being the optimistic guy that I am, I believe that the sellers are actually drying up. The Naz volume on Friday was the lowest since 9/27/04 discounting the Christmas/New Year’s time frame and 10/11/04 which was Columbus Day. Technically, I still see mixed signals on the Naz. My guess is a bit more downside and then we move up to the 2040 area. As long as 1970ish holds I will remain moderately short term bullish. One of the major problems seems to be a lot of whipsaw action on the stocks I watch. One of the things I am watching for is a 10/21 sma crossover on the SPY. Seems to be a more accurate indicator on the SPY than it does on the Naz. As I have been saying for the past two weeks…Many Healthcare Groups look good. In fact, Healthcare was the Top DJ Super Sector last week at +2.67%. Of the ten Super Sectors only Oil & Gas and Basic Materials were negative. Of the 100 DJ Groups, Distillers was tops for the week at +6.85% followed by Water Utilities +6.07% and Airlines +4.97%. The worst groups were Platinum/Precious Metals -5.41%, trucking -5.29% and Steel -4.01%. Advance/Decline/Unchanged issues this week: DJIA 19/11/0, DJ Composite 33/30/2, Naz Composite 1556/1738/94. NYSE 1912/1574/85, AMEX 586/478/56. The Naz weekly A/D volume was 4,364,000/3,898,000 (rounded). The NYSE A/D volume was 3,776,000/3,419,000 (rounded). THE IIC 100 and UNDISCOVERED GEMS lists are updated for April…See the TOC over to the left. The stocks listed below are not recommendations. They are simply securities that meet particular criteria. If you find any of interest, you should do your own research. Cup w/ Handles HXL HW INTU OSG OMM JBX NOTE: HDWR changed to HW Look at a weekly chart to see the pattern on these: RVSN SORC Flat Bases/Low Volume AFCE LSCP BTH VTAL BUTL TIWI TWI 50 dma moves upward through 200 dma ISIL ANN CCU INTU NOC GILD TSA RSI(14) moves upward through 30 ARBX LBTYA BVEW ISON RNVS RSI(14) moved upward through 50 AND an MACD crossover QLGC OWENQ NOK AIRT EK Generally bullish short term technicals GOT KAMNA Extremely Oversold RUS KG MENT SCSC NMSS CNVX Friday's new highs, closed up on at least 2x ADV LUFK STZ ARTW SKO SBTV CVO GYI MTL LQU IRIS MCRI SHOE BEBE EOC BKE CRFN CMT FTHR BBIB PRGS HITK GOT HWK WDC CNTY GIL HTRN SYNM CMRO CTHR TFF ANX Sectors/Groups Rather than sit here and type all this, I’m just going to give you some sites so those who are interested can check them if they want to. Top Sectors on Friday Worst Sectors on Friday …If you have Dow Jones News you can see these every hour on the hour until the market closes. Top Groups on Friday Worst Groups on Friday …You can view these at http://tal.marketgauge.com/MGHome/PHSReportsIndex.asp Top Indices on Friday Worst Indices on Friday …You can view these at http://americanbulls.com/Indices.asp Top DJ Indices for the week Worst DJ Indices for the week …You can view these at http://cbs.marketwatch.com/tools/industry/default.asp?siteid=mktw&bcind_ind=bc_top&bcind_period=1wk You can change the timeframe if you wish. Site Watch Looking for Canslim type ideas? This site offers a great value: GabrielsMoneyPage.com Here’s a nice little site that shows you the volume pace every ½ hour http://www.ttrader.com/stockchat/pace.php If you are interested in the S&P 500…This is pretty cool http://research.businessweek.com/scoreboard.asp Futures Brokers Directory http://www.futures-brokers-directory.com/commodity-options-futures-brokers-a.htm This is an interesting site. They have a paid version, but the free stuff is good too http://stockgarden.com Aiming for a realistic return http://money.cnn.com/pf/101/manulife/guide_to_growth/index.html Just for fun http://www.darwinawards.com We now have over 500 Financial Site listings at FinancialLinksOnline.com  This 'N That ***Same Store Sales(SSS) were announced last week. I did not find them encouraging. I could post a link, but it seems that it doesn’t work at the Forums…So, simply follow these directions: 1) Go to http://www.btm.co.jp/english 2) Then click AMERICAS INTERNET REPORTS...over to the left. 3) Then click CHAIN STORE SALES...over to the left. 4) Then click MARCH 2005 ***Here is a little briefing on March SSS http://www.icsc.org/srch/apps/newsdsp.php?storyid=1852®ion=main ***Retail Sales for March will be announced on Wednesday…Consensus ranges from +.06 to +1.2%. Sort of strange that this site reported +10% already http://www.shoppertrak.com/news.html ***HDWR moved to the NYSE…New ticker is HW ***IRS plans to reduce taxpayer assistance http://trimurl.com/13T ***Ford Motor reduces outlook and was down big After Hours on Friday…Ford said in a statement released after the closing bell. "The company's analysis of recent market trends, which include the prospect of higher and sustained gasoline prices and continued aggressive pricing actions by competitors, have led us to conclude that further challenges lie ahead." Guess they can join GM in the “Junk” status. Speaking of GM, last week the CEO announced he was taking over the North American Operations…What??? I thought he was already in charge of those…Maybe we’ll see him on the assembly line…LOL http://trimurl.com/13V ***The Power of Google http://www.fool.com/News/mft/2005/mft05040809.htm ***Google chiefs agree to work for $1 http://trimurl.com/13X ***Retirees having trouble with credit card debt. I don’t know about everyone else, but since November I am getting flooded with credit card offers. I got 42 last month. The only more annoying thing is all the calls from Comcast I get. When I see their number on the caller ID I don’t even answer anymore. http://abcnews.go.com/Business/WNT/story?id=629681 ***Mortgage rates reversed last week http://trimurl.com/13Y ***Over the past 3 months only 25 of the Nasdaq 100 are up in price. The top gainers are: AAPL QLGC CPWR ADBE ESRX IDTI XLNX GILD MERQ IVGN ***OPEC Official Says Oil Prices 'Maybe Too High,' Member Nations of Cartel Boosting Capacity…I am anxiously awaiting the Goldman-Sachs response…LOL http://biz.yahoo.com/ap/050410/australia_opec.html?.v=1 ***Old-Economy Industries Draw Investors http://biz.yahoo.com/ap/050409/wall_main.html?.v=2 ***GE reports pre-market on Friday ***Staples splits 3/2 and XTO Energy splits 4/3 on Friday ***DTV should get a boost on favorable Barron’s article *** Economic growth expected to slow down Last Updated (Beijing Time):2005-04-10 10:51 China's national economy slowed down in the first quarter of 2005, amid worries of overheated growth. The country's gross domestic product (GDP) is estimated at 8.8 percent in the quarter, much lower than 9.7 percent growth rate in the same period last year, said the State Information Center in a report released here Friday. Fixed asset investment would rise 24 percent, a sharp drop compared with 43 percent increase in the same period last year, the report says. Slowdown of fixed asset investment is the major reason leading to the drop of GDP growth, said Qi Jingmei, senior economic analyst with the State Information Center. Its contribution to economic growth would drop to 57.8 percent in the first quarter, 16.9 percentage points lower than last year. Inflationary pressures that had threatened the economy were eased in the period, said Qi. The driving force of agriculture to GDP got weaker in the first quarter. Last year's grain output growth was mainly due to the increase of farming area and enhancement of productivity. This year, the agricultural sector will be hard pressed to maintain the same high growth rate, said Qi. The growth rate of agriculture would be 3 percent, 3.3 percentage points lower than the fourth quarter last year, the report says. "The slowdown of agriculture is another major reason contributing to GDP growth drop," said Qi. The growth of industrial output, a major contributor to China's economic growth, would be 17.2 percent in the first quarter, half a percentage point lower than last year. Last year China's economic growth was higher than 9.5 percent. The government announced this year's targeted economic growth rate is 8 percent. China's economy has entered a new booming period, Qi said. Change of consumption structure, urbanization and shift of international manufacturing to China all contribute to fast economic growth, he said. Source: Xinhuanet ***Earnings Season is here http://www.rightline.net/calendar/index.html Don’t forget to file your extension by Friday!!! Doug (IIC) |
| Los Angeles | CA | 90034 |