| Weekend Report |
| February 6, 2005 |
Hi Everybody: Interesting week. The DJIA was up 2.77% and the Composite was +2.61% with 59 up 5 dn and 1 unchgd. Utilities led the way with 15 up 0 dn and overall the gain was 3.90%. The Naz was +2.5% and the SP SC 600 up almost 5% for the week. On Friday I saw the Naz 5 dma cross upwards through the 21 dma which was encouraging. The last time that happened was late September and the 5 day had crossed down through the 21 day at the beginning of the year. The 5/21 gives you a view of a week vs. a month. There is resistance at the 50 dma which is 2108. My feeling is that we will approach that level and then reverse. Most of the technical indicators I track, RSI, Williams %R, Slow STO, MACD indicate further upside. The Upper BB’s are at 2116. So if the 50 dma doesn’t provide enough resistance…maybe we can get a few more points. I think the most important thing is that we stay above 2050 or so, otherwise I wouldn’t be surprised to see the 1970’s where the 200 dma resides. It was nice to see some Semi’s coming back. CY broke out of a Cup with Handle formation on Friday. The SOX(Semi Index) is now +9% since the intraday low on 1/24/05. For the markets to continue to the upside, I think it is very helpful to see the SOX strong. YTD The DJ Utilities Index is +5.33% and the NYSE Energy Index +5.53%. On the downside the DJ Internet Index is -12.50% and the Naz Telcom Index is -7.06%. The IIC 100 and Undiscovered Gems lists are updated(See the TOC to your left). You will see TZOO listed as Number 1. It is important to remember that these lists are mechanical scans based on the criteria I use. They are not recommendations and I do not analyze each one. In fact, I would consider TZOO a good short candidate…especially after it went from # 1 to off the list at an “unnamed” newspaper and a less than favorable article in Barron’s. 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 GOL CVNS FARO BEAV BIO CPRT ITRI ZNT NTGR OPTN RVSN SMMX SNY SORC STD FFEX Last week BONT and CKR passed their pivot points…but not on explosive volume Please be aware that you may need to look at a weekly chart to see some of these CwH patterns; e.g. FARO CVNS Flat Bases/Low Volume GNTA DAR GDT ISG STAN DRIV MXT ALE RMK FOSL ACAP AIT Additionally, look at POG and CVNS Last week ORCH broke out up over 16% 50 dma moves upward through 200 dma CD REY SKX WBD MDCO CYBX RSI(14) moves upward through 30 SIRF CTV OSIS BK RIGL CAI GTW TNOX AV SKM MWV SWKS LDIS LUK RSI(14) moved upward through 50 AND an MACD crossover NKTR MENT ILE NANX CGFW UTX AMLN FARO MRVL FDS JAMS DRRX XL AMB HPQ SHU LANC GSK Generally bullish short term technicals HXM MTH SHPGY JOE PPT BLX The 2 stocks listed last week SBL BLUD did pretty good Friday's new highs, closed up on at least 2x ADV TIN RMD CWB GRU TSCO ORCT ASCA SPF RAI SYNA JOE MO DHI LM FLR ITU XXIA MLP IFIN LENB ILF FRC LCBM LTR CGX HXM CFSI APLX VMSI CG TCC SNA RESP UBB ATRO TLT AME UST MSGI CCF MCI CCJ IMAX HHGP WGL KMG HWK MCIP FMX CPKI EE CYBX TELOZ BTI MW AMX EFX USLM BLX TEAM INNO PLLL AVL MCBC CRHCY MWP NGS NUVA GMRK AVID IFNY ANDE USU TF CKFR KOF APSA CTMI FFBH DSTI CFK NGA TUG VDE IDIX SPTN TKS AMOT CMCO EFL QMED MCC VVC FORG BZA CZR AES LRW RTLX GW STSI ALEX LCC PBR FTG PRV PHY PSYS AWRE NVSL GRR INS SWB TGS FMI DNM NICE 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. I have posted Friday’s results at http://trimurl.com/W0 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 Interested is Same Store Sales(SSS)? Since my usual source, The Bank of Tokyo, discontinued it last month I found this new site http://www.retailforward.com/freecontent/perf_sales.asp On a weekly basis I try to post the Analysts Top Rated Stocks around the Net. This is not where I get the info but you can check it out http://www.theonlineinvestor.com/top_rated.phtml Free sign up for experimental Nasdaq products http://emi.nasdaq.com Financial Markets Laboratory from Columbia Business School http://www-1.gsb.columbia.edu/fml/links.html And don't forget to check out the new listings at FinancialLinksOnline.com This 'N That ***U. Mich.: Consumer Sentiment Weakens http://trimurl.com/W2 ***Bush administration expected to send fiscal year 2006 budget proposal to Congress on Monday ***The aftermath of the weekend's G-7 meeting and its implications for the dollar and the Chinese yuan will occupy investors in an otherwise quiet day on Monday (barring of course any surprises from Alan Greenspan, who is receiving an honorary degree from Edinburgh)…There is no Q&A scheduled for Greenspan ***Landry’s restaurants announced its intention to buy the Golden Nugget Casino in Downtown Las Vegas ***Nasdaq 100 inclusion criteria announced last Monday http://www.nasdaq.com/newsroom/news/pr2005/ne_section05_014.stm ***FTD is going to try to go public again http://trimurl.com/W4 ***Stocks need to turn up the volume http://trimurl.com/W3 ***Americans Wary of Stocks for Social Security –Poll http://trimurl.com/W5 ***Greenspan on Trade Gap http://www.iht.com/articles/2005/02/04/business/g7.html *** What will they think of next? http://trimurl.com/W1 ***And an EPS calendar http://www.rightline.net/calendar/index.html Good Luck this week. Best, Doug (IIC) |
| Los Angeles | CA | 90034 |