| Weekend Report |
| December 12, 2004 |
Hi Everybody: The December preliminary numbers for Consumer Sentiment came out at 95.7...the highest since August. I have a chart at the bottom of the Charts and Graphs page which automatically updates as the numbers are released. The major indices were hit on Tuesday and generally based the remainder of the week. Most of the Index chart patterns now look pretty good to me. I still prefer a low volume pullback on the Naz...but a brief consolidation on low volume wouldn't surprise me. The Dow Composite saw 20 up and 45 down for the week with the transports hit the hardest. We are seeing mixed signals on the Oscillators. It wouldn't surprise me to see us dip below 2100 on the Naz again and possibly as low as the 2060's. I'm just going to trade on the cautious side for now. It will be interesting to see what the OPEC Ministers come up with. Many of the oil stocks could rebound nicely after the meeting. I'm reading conflicting reports about what will happen with oil prices after Friday's meeting. But I tend to believe this guy: Top OPEC producer Saudi Arabia said yesterday that it was not worried by the price fall. "Don't panic," said Saudi oil minister Ali al-Naimi. "I tell you it will go up on Monday." In case you were wondering...here are the 11 nations that make up OPEC: Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. 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 ORCL QCOM TSO CSAR CYT AIN NTES ULTI LRW CXW FIX WLB STGS Still worth watching from last week: RGS BLX OS IDXC HZO PLMO NOVA MNST WFMI WMS SMBI BGFV SNY FINL SONE VION ORLY From last week's list the following were of note: DUSA broke out and was up 6%. PLMO was up 4% and NOVA was up 6% but they have not broken out yet although NOVA gave it a low volume shot. MACD Crossovers PHRM MXIM YBTVA SNTS FDC AVAN HYC NOOF DVSA IPMT GGAL From last week's list the following were up at least 3%(rounded): COVD +5% Flat Bases/Low Volume HEB KO SGU AEC EVOL TXU NTE From last week's list the following were up at least 3%(rounded): RCI +6% ACR +6% 50 dma moves upward through 200 dma MER MERQ CXW ICAD KLAC ETH SSNC EBKR FRNT PTEK MECA PRST HLR ARM ABI From last week's list the following were up at least 3%(rounded): ARDM +10% CRGN +4% T +3% Generally bullish short term technicals VLLY RKTI EPAY RSI(14) moves upward through 30 MGPI NOVN RSI(14) moved upward through 50 GMST COMS GDTI ILA NVAX AVAN GD CCJ WLS TXU DADE IPMT NOOF GGAL CA BBX SFA IDXX LAF INSP MAN WMAR RYN MATK PGL NDE HTV CHB MOLAE MNST HE WWCA DLP INGR AMV MAG SKX ABM MSSN LOJN POSS DTV OS SSCC DQE From last week's list the following were up at least 3%(rounded): VERT +41% SRCL +8% XIDE +4% RSI(14) moved upward through 50 AND an MACD crossover AVAN NOOF IPMT GGAL Friday's new highs, closed up on at least 2x ADV BZH JOBS KBH CAE ALX SPF TPTI TOL ANTP COF HOLX SVBF GOL RESC SNDS HXM VIVO KFY NXTP MDKI CTT SNR ACF WSB ACP OPOF REXI IFNY HTRN FCH TMS RNHDA CX DDRX HFFC JKG MIX SYNF RTK BNP HMSY NAFC VES WHG ERH Sectors/Groups Top Sectors on Friday N/A Worst Sectors on Friday N/A Top Groups on Friday Construction Services, Insurance(Accident/Health), Investment Services Worst Groups on Friday Communications Equip., Major Drugs, Oil & Gas-Integrated Top Indices on Friday DJ-Toys, DJ Industrial-Diversified, DJ Steel Worst Indices on Friday DJ-Trucking, DJ Air Freight, AMEX-Pharmaceuticals Top DJ Indices for the week Home Construction +8.09%, Home Construction/Furnishings +4.58, Healthcare Providers +4.39% Worst DJ Indices for the week Consumer Electronics -5.73%, Coal -5.19%, Semi's -5.13% Note: I only check the Major DJ Indices. Site Watch The owner of Stockciphering.com has been kind enough to offer Mr. Breakout readers a FREE trial to his site this week at Stockciphering.com I have been a subscriber since the site first came into existance a few years ago and I just renewed my subscription last week. Here is a little brief on what you'll find at Stockciphering.com: StockCiphering.com (home of the Nasdaq Weather Report) offers you an easy to use method of finding breakout growth stocks. We find Cups-With-Handle formations and other bullish signals by doing the number-crunching and technical analysis, producing various stock screens so that you can find growth stocks with the most profit potential. A special username and password to access Stockciphering.com is below. I highly recommend that you take advantage of this offer and feel free to tell your friends. Login at this address and then click any of the four dates at the top in the middle of the page: http://www.stockciphering.com/mscreen.htm Username: mrbreak Password: mb8401 Note that the Username and password are case sensitive. This week you may have been watching a new Chinese IPO...Ninetowns Digital (NINE). Unfortunately, the English version of their website is under construction. If you are like me, you might be a little rusty on your Mandarin and can't decipher anything on their site http://www.Ninetowns.com But I came up with a solution...Check out this site which offers several translation methods. Scroll down and you'll find that you can even translate entire web pages in many languages http://www.readworld.com/tran Computer problems??? Check this out http://www.williamaford.com Interested in Technical Analysis? I receive Technical Analysis of Stocks and Commodities magazine...However, you can visit their site and read many interesting articles at no charge http://traders.com And don't forget to check out the new listings at FinancialLinksOnline.com This 'N That ***Thinking about giving gifts to your employees this holiday season? Read this first http://www.sptimes.com/2004/12/12/Columns/IRS_takes_interest_in.shtml *** Business software maker Oracle on Friday said it will release its second-quarter earnings before U.S. markets open on Monday, instead of Thursday, due to issues related to its takeover bid for PeopleSoft that may come up in court later on Monday *** Money from China's boom makes way into U.S. economy http://www.siliconvalley.com/mld/siliconvalley/10393761.htm *** Las Vegas Sands Increases IPO Price http://www.forbes.com/home/feeds/ap/2004/12/10/ap1706013.html and http://trimurl.com/RC ***Nasdaq 100 reshuffle http://money.cnn.com/2004/12/10/markets/nasdaq.reut/index.htm ***China and Walmart...From the December 20th issue of Newsweek which will hit the newsstands on Monday http://www.msnbc.msn.com/id/6700787/site/newsweek *** General Electric boosts its quarterly dividend by 10% to 22c a share and launches plan to buy back up to billion in shares over three years, as it projects double-digit percentage earnings growth for 2005. *** IPO's expected this week: Advance America Cash Advance Centers Inc. - 21.5 million shares via Morgan Stanley expected Tuesday. Arbinet-theexchange Inc. - 6.5 million shares via Merrill Lynch expected Wednesday. BlueLinx Holdings Inc. - 9.5 million shares via Goldman Sachs expected Monday. Cambridge Display Technology Inc. - 2.5 million shares via SG Cowen expected midweek. Cascade Microtech Inc. - 5.3 million shares via Lehman Brothers expected Tuesday. Comstock Homebuilding Co. - 3.6 million shares via BB&T Capital Markets expected Monday. Conor Medsystems Inc. - 5 million shares via Citigroup expected to price Monday. Deerfield Triarc Capital Corp. - 20 million shares via CSFB, Deutsche Banc and Bear Stearns expected to price Wednesday. Feldman Mall Properties Inc. - 10.7 million shares via Friedman Billings Ramsey expected Wednesday. Great Wolf Resorts Inc. - 14 million shares via Citigroup expected Tuesday. Herbalife International Inc. - 14.5 million shares via Merrill Lynch and Morgan Stanley expected Wednesday. Interline Brands Inc. - 12.5 million shares via CSFB and Lehman Brothers expected to price Wednesday. KMG America Corp. - 18.9 million shares via Friedman Billings Ramsey expected Tuesday. Knoll Inc. - 11 million shares via Goldman Sachs and UBS expected Monday. Las Vegas Sands Corp. - 23.8 million shares via Goldman Sachs expected Tuesday. Macquarie Infrastructure Co. Trust - 21.4 million shares via Merrill Lynch and Citigroup expected Wednesday. Otelco Inc. - 8.7 million shares via CIBC, RBC Capital and UBS expected to price this week. Spirit Finance Corp. - 26.1 million shares via Banc of America, Citigroup expected to price Wednesday. The9 Ltd. - 6.1 million shares via Bear Stearns expected one day next week. That's it for this week...hope you have your holiday shopping done...I have not even started...BTW, does OSTK deliver on Christmas morning? Best To All, Doug(IIC) |
| Los Angeles | CA | 90034 |