| Weekend Report |
| December 19, 2004 |
 Happy Holidays Everyone: Most of the major indices were up for the week but the QQQQ's were down and the NYSE and Naz Composite retreated as the price of oil rose. Guess the Saudi Oil Minister was right as I reported last Sunday. In my opinion we will see $50+ for oil in the not too distant future. The DJ Composite saw 46 up 18 down and 1 unchanged for the week led by the Utilities 14 up and 1 down. There was unusually high volume after hours on Friday with declining volume outpacing advancing 4-1. Over 40% of the A/H volume was attributable to NWS.A. The Nasdaq short term A/D Oscillators indicate more downside...but I have not been very good at calling the correction...but I still think we will see one soon. In fact, I prefer that it happens before the end of the year. 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 MVK SMTS ABI NTGR Still worth watching from last week: QCOM TSO CSAR CYT AIN NTES LRW CXW WLB STGS RGS BLX HZO WFMI BGFV FINL SONE ORLY From last week's list the following were of note: ORCL broke out on news but only ended up 5% for the week. FIX broke out but then failed. WLB was +6% but has yet to break out. OS broke out +14%. WMS broke out but pulled back...it remained above the pivot so it is off the list. The following all broke out: OS +14%, NOVA +17%, MNST +16%, SMBI +4%. SONE was +4% but remains below the pivot point. MACD Crossovers PCU KSE SSYS CPWM ADVNB QLTI OO HIH PSPT WEBME QTWW FLE GG AVA TTI CNQ DJ From last week's list the following were up at least 3%(rounded): IPMT +7% YBTVA +6% Flat Bases/Low Volume AEC MNT EBKR SSNC From last week's list the following were up at least 3%(rounded): SGU +21% TXU +4% 50 dma moves upward through 200 dma ISWI LCCI CRNT MONE ACG PTNR HEPH CDWC JBL BKH HAIN NWS MMR AEG HIX QMED From last week's list the following were up at least 3%(rounded): PTEK +7% MECA +6% Generally bullish short term technicals ASHW PRU AVID SGR From last week's list the following were up at least 3%(rounded): EPAY +8% VLLY +8% RSI(14) moves upward through 30 FE From last week's list the following were up at least 3%(rounded): MGPI +6% RSI(14) moved upward through 50 KSE SSYS STN BA FDS AVN BLDP SGU FCEL MCCC SBSA PVN TLK FOE TACT RG IDA CEY VIA NAT NYT From last week's list the following were up at least 3%(rounded): GDTI +27% MNST +16% POSS +15% OS +14% DQE +6% LOJN +5% SKX +6% MATK +5% TXU +4% DADE +4% IPMT +7% SFA +9% BBX +5% HE +4% WWCA +5% RSI(14) moved upward through 50 AND an MACD crossover KSE SSYS From last week's list the following were up at least 3%(rounded): IPMT +7% Friday's new highs, closed up on at least 2x ADV NKE MATR STST KCI LNCR TPL EVST ADSK NBAN ANTP NMGB NMGA NWEC ZOLT LBTYA AORGB WLT PEG AHG SCHL BKF GEF TRGL AMMD SAXN EPL DXT CFCP STRS ABT MAA GLH ASN SJI MCIP HUBG PCP MCS PNK UNAM FRD ASHW MANC TELOZ ITG BBX TARR NIKU BZF WBCO NGPC ARL BRN GAP GSX KRC POG CARN THE GFF DDRX HTRN SGL BRCD BBF JNJ DDE BTRX TFF GHL BRID EGN Sectors/Groups Top Sectors on Friday N/A Worst Sectors on Friday N/A Top Groups on Friday Footwear, Metal Mining, Real Estate Operations Worst Groups on Friday Major Drugs, Computer Hardware, Retail-Dept/Discount, Top Indices on Friday DJ-Footwear, DJ-Textile/Apparel, DJ-Coal Worst Indices on Friday DJ- Pharmaceuticals, AMEX-Hardware, AMEX-Pharmaceuticals Top DJ Indices for the week Tires +6.60%, Coal +6.58%, Steel +5.86% Worst DJ Indices for the week Aluminum -4.11%, Pollution Control -3.55%, Internet Services -2.15% Note: I only check the Major DJ Indices. Site Watch Interested in security stocks? Here is an interesting site http://www.securitystockwatch.com What were the 10 worst ever market crashes? http://mutualfunds.about.com/cs/history/a/marketcrash.htm Everything you ever wanted to know http://www.libraryspot.com Are you a subscriber to Stockcharts.com? Here is a forum dedicated to using Stockcharts http://www.investorshub.com/boards/board.asp?board_id=1277 And don't forget to check out the new listings at FinancialLinksOnline.com This 'N That *** Obscure Company Buys Yukos Unit for $9.3 Billion, Takes Control of Prized Russian Oil Asset http://biz.yahoo.com/ap/041219/russia_oil_fight_16.html *** NASDAQ Announces Filing of Registration Statement for Public Offering (December 14, 2004) New York, N.Y. — The Nasdaq Stock Market, Inc. (“NASDAQ®”; OTCBB: NDAQ) today announced that it has filed a Registration Statement on Form S-3 with the Securities and Exchange Commission relating to a proposed public offering of $100 million of NASDAQ's common stock, including shares that may be purchased by the underwriters to cover over-allotments, if any. The offering will consist of shares offered by NASD and by certain other stockholders who purchased NASDAQ common stock in the 2000 and 2001 private placements, to the extent such persons choose to participate in the offering and meet certain eligibility requirements. NASDAQ and NASD anticipate providing these stockholders with additional information concerning their participation shortly after the filing of the registration statement. None of the shares are being sold by NASDAQ or by its officers or other employees and NASDAQ will not be receiving any proceeds of the offering. Merrill Lynch & Co. and Credit Suisse First Boston are acting as joint book-running managers. *** Nektar Therapeutics (Nasdaq:NKTR) reported today(A/H on 12/17) that Eyetech Pharmaceuticals, Inc. (Nasdaq:EYET) and Pfizer Inc. (NYSE:PFE) announced that the U.S. Food and Drug Administration (FDA) has approved Macugen(R) (pegaptanib sodium injection) for the treatment of neovascular (wet) age-related macular degeneration (AMD), an eye disease associated with aging that destroys central vision. *** Lazard files for $850M IPO http://money.cnn.com/2004/12/17/news/midcaps/lazard.reut/index.htm *** MasterCard Sees 9.2% Growth in Transaction Volume for Fourth Holiday Shopping Weekend *** Huaneng Shareholders Approve Equity Interest Acquisitions, Arrangements And Agreements - Update [HNP] 12/19/2004 3:13:40 AM Sunday, Huaneng Power International, Inc. (HNP), a Chinese independent power producer, reported that the company conducted extraordinary general meeting in which shareholders and their proxies voted to resolve certain equity interest acquisitions, agreements and arrangements. Passed as ordinary resolutions, shareholders and their proxies approved acquisition of 60% equity interest in Sichuan Huaneng Hydro Power Development Limited Liability Company from China Huaneng Group and transfer agreement thereof. Acquisition of 65% equity interest in Gansu Huaneng Pingliang Power Generation Limited Liability Company from China Huaneng Group and transfer agreement thereof was also passed. The company’s shareholders and their proxies approved the guarantee arrangement and relevant agreements between Gansu Huaneng Pingpiliang, Sichuan Huaneng Hydro Power and China Huaneng Group. Another resolution to continue to implement the asset swap arrangement between Sichuan Huaneng Hydro Power Development Limited Liability Company and Sichuan Huaneng Industrial Company was approved at the meeting. Shareholders of the company approved loan and deposit arrangement between Gansu Huaneng Pingliang Power Generation Limited Liability Company, Sichuan Huaneng Hydro Power Development Limited Liability Company and the subsidiaries and China Huaneng Finance Limited Liability Company. HNP traded at $29.94 up 11 cents on a volume of 71,700 shares. *** Securities Class Action Suit Filed Against GeoPharma - Update [GORX] 12/18/2004 7:15:33 PM Saturday afternoon, Pomerantz Haudek Block Grossman & Gross LLP announced that it has filed a class action lawsuit in the Southern District court of New York against GeoPharma, Inc. (GORX) and two of the Company's senior officers, on behalf of all persons or entities who purchased the securities of GeoPharma on December 1. The Largo, Florida-based GeoPharma manufactures, packages and/or distributes private label dietary supplements, overt-the-counter drugs, pharmaceuticals and health and beauty care products for companies under two related entitles: Innovative Health Products, Inc. and Belcher Pharmaceuticals, Inc. According to the complaint, the company and certain of its top officials issued material misstatements about FDA approval of Mucotrol, a product which is manufactured by the Company's wholly owned subsidiary, Belcher Pharmaceuticals, Inc. The complaint alleges that in a press release issued on December 1, the Company and its top officials created the impression that the FDA had approved Mucotrol for marketing in this country as a prescription drug that helped the company stock jumped up 153% to $11.25 per share. Later the FDA stated that it had cleared Mucotrol for marketing but only as a device, not a prescription drug. After the close of the market on December 2, the company finally acknowledged that Mucotrol was a device, not a prescription drug. On this disclosure, the Company's stock fell as low as $5.37 on December 3. The complaint alleges that GeoPharma and the Company's Chief Executive Officer, Secretary and director, Mihir Taneja, and Kotha Sekharam, President, principal spokesman knew or but for their recklessness would have known that Mucotrol had been approved by the FDA as a device, not a drug. GORX closed Friday’s regular trading session at $5.27, up 44 cents *** EBay Releases Statement On Baazee.com`s Executive Arrest - Update [EBAY] 12/18/2004 7:04:43 PM Saturday afternoon, eBay (EBAY), an internet based marketplace, announced that the country manager of its wholly owned subsidiary in India, Baazee.com, has been arrested. The company stated that it was outraged that the country manager of Baazee.com, Avnish Bajaj was arrested and sent to judicial custody without bail till December 24. eBay noted that in late November, a Baazee.com user attempted to sell a controversial pornographic video clip on the site and offered to email the clip directly to buyers. The listing violated Baazee.com's policies and user agreement and was removed from the site once it was discovered. The seller has been located and arrested based on the information provided by the company. The company stated that it is unfortunate that local law enforcement has chosen to misdirect its energies towards Bajaj. eBay is working to secure Bajaj’s release from jail as soon as possible. Well, that's it for this week...I hope everyone has a safe and happy holiday. Best To All...Doug (IIC) |
| Los Angeles | CA | 90034 |