| Weekend Report |
| August 14, 2005 |
Hi Everybody: Oil Oil Oil…Where’s the increased production? The Naz is below the 10 and 21 day moving averages and has closed red 6 of the last 8 days. We did bounce off of the lower Bollinger Band which is encouraging, but techicals indicate a little further downside on the correction IMO. I believe a lot will depend on the CPI which comes out pre-m on Tuesday. Consensus is .4 and I’m assuming that is already built into the Naz pullback…but anything higher should result in downside the way I figure it. One of the things I don’t like about the recent action is that I see a lot of leaders suddenly turn around…often without warning. You can see it in the groups too…One week in the top 5…next week in the bottom 5 in many instances. To me, this is an indication of a market looking for direction. Besides the Naz, it was a pretty ho-humm summer week on the majority of indices although the NYSE Energy Index was up over 4%. For now…I am turning neutral from bearish. I still believe it would be best for the Naz to go down to the 50 dma and bounce, The 50 dma is at 2123. For the week, the Dow Super Sectors were 5 up 5 down. . Top DJ Groups were Water +9.17% Aluminum +7.14% Gold Mining +6.02%...Worst Groups were Tires -4.02% Heavy Construction -3.49% Platinum/Precious Metals -3.30% A/D/U Issues for the week: Nasdaq 1425/1860/89 NYSE 1859/1636/91 AMEX 532/562/56 The DJIA A/D/U was 13/17/0. The DJ Composite was 28/37/0 and the Major DJ Groups were 53/47/0. 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 THO SFCC ANR USNA HAE TCBI NAFC FVE Flat Bases/Low Volume CLMS SYGR ICCI GOT BCF 50 dma moves upward through 200 dma GS KFY WEX LTXX MCDT NUVO SBC JRCC CR RSI(14) moves upward through 30 DG MVSN ORVL TASR RSI(14) moved upward through 50 AND an MACD crossover LU LEXR LZB Generally bullish short term technicals UPL KMX FLS POT FRGB RHD Extremely Oversold PFCB DFR IMH PLB BGF DAL COOL NINE DWRI AXCA MOVI FL FDO Friday's new highs, closed up on at least 2x ADV ASEI SOSA HTE MAIN STV PGS PHX PHH APO RCCC WTR MEK NVDA SLW MVCO END GLQ PRLS COSI DHIL WGR NTG IIF MOSS INMD GHM GMXR ANS CRED FLL GLV KG NGS NVY TOM NQU QGLY GSX FRG KUB Sectors/Groups 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. 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I thought I’d mention three that you might find beneficial: ReedFloren.com MrMarketIsHuge.com MasteringTheMarkets.com This 'N That *** Wall and Main: IPO Pitfalls http://abcnews.go.com/Business/story?id=1033176&page=1 *** 7 Stocks You Need To Know About For Monday http://biz.yahoo.com//tm/050812/12912.html *** Weekly Stats: NASDAQ 2,156.90 -.96% NYSE Comp. 7,558.33 +1.41% S&P 500 1,230.39 +.32% DJIA 10,600.31 +.40% Russell 2000 660.00 -.96% DJ Wilshire 5000 12,260.13 +.23% S&P Equity Long/Short Index 1,056.15 +.07% Transports 3,747.81 +.43% Utilities 396.06 +.04% S&P 500 Cum A/D Line 8,296.00 -.60% US Dollar 86.98 -1.16% CRB 322.96 +1.99% Bloomberg Crude Oil % Bulls 56.0 +61.76% Put/Call 1.28 +10.34% NYSE Arms 1.39 +28.70% Volatility(VIX) 12.74 +2.08% AAII % Bulls 39.74 -16.91% *** Bracing for a Hard Landing http://yahoo.smartmoney.com/onedaywonder/?nav=dropTab ***Inside Yahoo's China Gambit http://www.businessweek.com/technology/content/aug2005/tc20050812_2399.htm ***Mortgage Rates Increase Again This Week http://trimurl.com/24S ***Variable annuities still ripe for being lemons http://seattletimes.nwsource.com/html/businesstechnology/2002439864_wasik14.html ***Baidu: Strong IPO, Stronger Rivals? http://www.businessweek.com/technology/content/aug2005/tc2005085_8005_tc024.htm ***The World's Sexiest Islands http://biz.yahoo.com/weekend/islands_1.html ***The Five Dumbest Things on Wall Street This Week http://biz.yahoo.com/weekend/dumbest813_1.html ***If you filed a tax extension…Don’t forget to file tomorrow or request an additional extension…Here is the additional extension form: http://www.irs.gov/pub/irs-pdf/f2688.pdf ***Briefing’s Weekly Wrap http://reuters.com/financeBriefing.jhtml?type=storyStocks ***Earnings Calendar: http://www.rightline.net/calendar/index.html Sign Up Today!!! 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