| Weekend Report |
| December 5, 2004 |
| Hello Everyone: After a fairly slow start the first two days of the week most of the major indices picked up towards the end of the week. However, the Nasdaq Composite finished very poorly on high volume the last 10 mins. on Friday. The Dow Composite was up again for the week with 42 up and 23 down. However, all 15 stocks comprising the DJ Utility Index were down for the week with the Index falling 4.2%. The Nasdaq is now up 22.6% since August 13th. As far as I'm concerned we are overdue for a pullback, but I will continue to make short term trades until it actually happens. The Short Term(10/12 day) Nasdaq Advance/Decline Lines(issues) have remained in Overbought territory since the end of October. But the A/D volume lines have lingered in the neutral zone for quite some time. The main technical indicators I use, RSI(2), RSI(5), RSI(14), CCI(20), Williams %R(14) and Slow STO are all back in overbought territory for the Naz. But as we've seen, they can remain there for a while. New Highs continue to outpace New Lows at a ferocious level. So I am just going to try to go with the flow until things turn South. *** I added a 24 hour Spot Gold chart on the Charts and Graphs page. Also, the IIC 100 and the Undiscovered Gems lists are updated for December. Of course, the Oscillators, Weekly Calendar and Support/Resistance pages are always updated. In fact, the charts and the oscillators are updated on a daily basis, so you can always check them during the week. 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 RGS BLX OS TASR IDXC HZO TLCV PLMO JJZ DUSA NOVA Still worth watching from last week: KWK VRX CPE SYNM CHE MNST ZLC WFMI EPIC SMBI WMS BGFV KFY SNY FINL SONE DAB DPTR DVA GYI LEV ORLY QSND MNS VION USU From last week's list the following were of note: A few tried to break out but pulled back. RECN was up 7% and SMBI was up 3%. But SMBI still remains on the CwH list. MACD Crossovers HEB IASG SBC KO BUD A EFII MCDTA AGIL CGNX NCI COVD GILD From last week's list the following were up at least 3%(rounded): PLUM +12% RECM +35% Flat Bases/Low Volume OCLR RCI AVO UCI ACR AEC CHR From last week's list the following were up at least 3%(rounded): JBSS +10% GMAI +7% 50 dma moves upward through 200 dma NTN PRM VNWK NTRS FILE ONEI AHOM ARDM SORC T MTLG RYAAY HZO REDF CRGN MBI SLR TWX ARA AVCT From last week's list the following were up at least 3%(rounded): TEN +11% STK +9% CRA +4% INTL +3% KOMG +4% SBL +3% WMS +3% Generally bullish short term technicals Q IAH DRIV WG GIM From last week's list the following were up at least 3%(rounded): AMD +8% RSI(14) moves upward through 30 CAB CNCT SGU From last week's list the following were up at least 3%(rounded): OMNI +12% RSI(14) moved upward through 50 CERG EVOL FLYR FRL CMP ACTU CY DG EXAR GMST ZIXI NOVT HEB GILD RMKR SCS SRCLNTE WIND VERT NANSY ILXO HMC XIDE OMX PPHM STTS IDTI WWCA PHK PLT VPHM From last week's list the following were up at least 3%(rounded): RECM +35% CRY +7% ASCL +7% LYG +4% RSI(14) moved upward through 50 AND an MACD crossover GILD HEB From last week's list the following were up at least 3%(rounded): RECM +35% Friday's new highs, closed up on at least 2x ADV NCR VLTR BFAM TPTI DCAI GET NEN GBX GOL MACR PMBC MBVT PRFT RDN PLL AIB DOC RITT OOO UBSH TWI CREAF CBG QMED MTMC ACBA OOM WEB CUK TMS POS UGP RMI FCCY EWO AKH CMBC EWP LAN TIA NICK SYM IIG NCX GIL NUT AMZ JKK EWU SNR OI FFF IXP SBF Sectors/Groups Top Sectors on Friday N/A Worst Sectors on Friday N/A Top Groups on Friday Semi's, Electric Utilities, Software Worst Groups on Friday medical Equipment/Supplies, Retail-Specialty, Household Products Top Indices on Friday DJ-Coal, DJ-Steel, DJ-Toys Worst Indices on Friday DJ-Aluminum, Naz-Financial, Naz-Banks Top DJ Indices for the week Toys + 6.0% Airlines +5.2% Computers +3.6% Worst DJ Indices for the week Pipelines -6.6% Nonferrous Metals -6.1% Precious Metals -5.7% Note: I only check the Major DJ Indices. Site Watch The owner of BreakoutInvestor.com has been kind enough to once again offer a FREE look at his website. I have received nothing but positive feedback from those of you that have taken a look previously. Click this link to view Monday's Edition http://breakoutinvestor.com/mOdec06 Like to run scans? This site offers a FREE Mini Stock Screener with no registration required. http://www.chartfilter.com If you follow Gold you are probably already aware of this site....but if you aren't then I suggest you check it out http://kitco.com I've kept this one to myself for a long time...but I decided to give an early Christmas present to those of you that follow the Retail Groups. You can view the Same Store Sales(SSS) reports right here every month at no charge...just scroll down to the middle of the page and click the .pdf files. There is also a lot of other interesting stuff at this site presented by the Bank of Tokyo-Mitsubishi, LTD. http://www.btmna.com/reports/research/comment/Chain_Store_Sales.htm Everything you ever wanted to know...and probably everything you didn't want to know too http://www.fact-index.com And don't forget to check out the new listings at FinancialLinksOnline.com This 'N That ***This week's EPS Calendar http://www.rightline.net/calendar/index.html ***Crude oil futures fell to a fresh three-month low Friday, deepening their losses for the week to 15%. The four-day downturn in oil prices came as worries about winter heating supplies in the U.S. eased amid normal Northeast temperatures and rising oil inventories. The Federal Energy Information Administration reported Wednesday that distillate stocks, which include heating oil and diesel, grew by a surprisingly large 2.3 million barrels last week to 117.9 million barrels, while crude stocks increased by about 1 million barrels to 293 million barrels. The easing worries about winter supplies forced non-commercial speculators such as large commodity hedge funds to reverse bets on higher prices. they get nervous when the price falls too fast," said Mike Lynch, president of Strategic Energy and Economic Research, a consulting firm based in Amherst, Mass OPEC ministers meet Dec. 10 in Cairo to decide on production levels for the winter. A Saudi official cautioned Thursday against drawing early conclusions, saying the price drop was being watched and that all options remain on the table. *** Celgene and Pharmion Extend Strategic Collaboration for Worldwide Development of THALOMID(R) (Thalidomide)...CELG was up well after hours on Friday. ***The FDA approved Cellestis's one-step blood test for tuberculosis, a disease responsible for about two million deaths world-wide each year (CLLWF.PK) ***IRS proposal would permit workers to retire gradually More and more employees say they want to ease into retirement, gradually reducing their hours on the job as they get older before quitting altogether. But they may feel their only choices are to quit work or stay on the job full time because of today's rigid pension regulations. The Treasury Department is offering a possible middle ground. Recently, Treasury and the Internal Revenue Service proposed rules that would allow workers to cut their hours and collect part of their pensions at the same time. "We're really testing the waters to see if this is something employers would like to do and employees would like to participate in. It's the first step," said Bill Sweetnam, Treasury's benefits tax counsel. Typically, workers can't tap a pension until they leave the job or reach normal retirement age, often 62 or 65. Those who don't want to continue working full time into their 60s often end up quitting and settling for a reduced pension benefit. Sometimes they retire from one employer so they can collect a pension and then work somewhere else. Under proposed regulations, employers would be able to keep these workers by allowing them at age 59½ to begin working fewer hours and collect a percentage of their accrued benefits, without taking nearly as large a long-term hit as they would by retiring early under today's rules. David Certner, director of federal affairs for AARP, said his advocacy group would submit comments on the Treasury proposal. "We think the notion of phased retirement is a good one," but AARP wants to make sure that employers can't use it as a tool to push out older workers, Certner said. *** Treasury Official Sees U.S. Economy Spurt http://www.forbes.com/home/feeds/ap/2004/12/05/ap1691699.html *** Approaching Tax Season May Hurt Stocks http://trimurl.com/Q0 *** India Stocks Rally as Investors Confident of Reforms http://www.voanews.com/english/2004-12-05-voa3.cfm ***Genta`s Phase 2 Trial Reveals Positive Results Of Ganite In Patients With Advanced Non-Hodgkin`s Lymphoma - Update [GNTA] ***Cell Therapeutics Announces Positive Phase II Study Of TRISENOX - Update [CTIC] That's it for today folks...Best of Luck to all this coming week. Doug (IIC) |
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