| Weekend Report |
| July 24, 2005 |
Hi Everyone: I was a bit surprised “Again” this week that we did not pullback…Seems like I’ve been saying that a lot lately. In fact, after Thursday I thought it would finally happen. I did say last week that I thought the Naz would have a hard time getting past the 2180’s without a pullback. We went as high as 2193 but now I firmly believe that we are headed down this week. I’d like to see us get down to the low 2100’s and consolidate for a while. But it would not surprise me to see us down in the 2070’s sometime in the next two weeks. The Naz is up in nosebleed territory selling at 45x earnings…while the SP 500 is at 20x. The Short-Term A/D issues and moving average volume are pointing down on both the Naz and NYSE. Generally, unlike recently, the small and mid caps outperformed the large caps last week. The volume picked up some last week…But on the highest volume day, which was Thursday, the A/D/U issues on both the Naz and NYSE were far into negative territory. There will be the Beige Book announcement on Wednesday afternoon…But I think the biggest announcement of the week is the GDP pre-m on Friday. For the week, the Dow Super Sectors were 5 up 5 down led by Oil +4.05% Top DJ Groups were Coal +12.62% Stell +12.09% Business Training +11.54%. Worst Groups were Internet -4.15% Health Care Providers -2.22% Mortgage Finance -2.02%. A/D/U Issues for the week: Nasdaq 2134/1141/95 NYSE 2203/1286/92 AMEX 638/444/54 The DJIA A/D/U was 11/19/0. The DJ Composite was 32/33/0 and the Major DJ Groups were 62/38/0. 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 GLDN BLKB UFI NRG PUMP ABX CKH OPMR CLMS Flat Bases/Low Volume AJG CEDC CHTT CRY CYCL MDP UNFI SALM RMK DDDC MCX KNOT ISLE MDTH RCKY PR PGIC EQIX ORI MWD 50 dma moves upward through 200 dma MBI EQIX LUK ICST MRGE THRX LZB MGAM ROK AIN BEIQ FMT AMD FCS DSU AIRN SEE THO SUI RECN SKM ERES SSFT CWTD RSI(14) moves upward through 30 CKXE PLB C STRA RSI(14) moved upward through 50 AND an MACD crossover HAE LEXR ANX COMS LGF WON Generally bullish short term technicals IDIX ET MECA CLE BCE HET Extremely Oversold COOL AVP L MOH BEC Friday's new highs, closed up on at least 2x ADV BEIQ THLD SRLS HHGP FSTR GNSS RHI TXI HAL SLB CERN TSCO SNDK NR NCA ITP AIN WFT CMI CAM GEPT WL SMXC UNF WSO GKK BRCM TRID HAFC INFA LBTYB ULTI CIB BTUI PLLL XWG JWA TUX MTIX GW ACP HZO ODP CPWR BAA BFBC COHU ABP EMKR AOB IDBE PHCC POWL FCL IIF EPP CFK 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. Site Watch Looking for POTENTIAL BREAKOUT ideas? This site offers a great value: GabrielsMoneyPage.com Thought you might like to take a look at a very useful site that I have subscribed to since Day One. I highly recommend it: Stockciphering.com Analyst’s Highest Rated Stocks http://www.newratings.com/analyst_news/article_925156.html Pattern Day Trader Rule http://www.patterndaytraderrule.com China Economic Net http://en-1.ce.cn/main/index.shtml A different way of presenting the news http://www.newsisfree.com/newsmap/top.php Visit my new site…http://OnlineBrokerDirectory.com We now have over 695 Financial Site listings at FinancialLinksOnline.com Free Stock Market Forums I am a member of 7 stock forums and 2 chat rooms…Actually I was a member of several more last year…But time is time so I have limited myself to those that are the best. I thought I’d mention three that you might find beneficial: ReedFloren.com MrMarketIsHuge.com MasteringTheMarkets.com This 'N That ***Courts clear way for US AIR – America West merger…Now they can go bankrupt together. ***Maidenform and Diamond Foods IPO’d this week…Sure they opened above the offering price but other than that I was not impressed with the action. MFB couldn’t find “Support” at 20 and the interest pretty much waned on DMND on Friday. However, I am considering DMND as a possible long term buy. I will have to do some more research on it though. ***Housing Bubble…Here are a few points recently published by David Rosenberg, Merrill Lynch Economist: 28% of new loans in the past 6 months have been sub-prime loans vs. only 5% five years ago, 42% of first-time buyers made no down payment last year, ARM’s account for about 50% of all loans in the top Real Estate markets, 12% pay over 50% of their income to mortgages, over 60% of loans in California this year have been interest only or ARM’s…There was a lot more to it, but I anticipate a lot of foreclosures coming up next year and beyond. ***A lot of talk about China lately…I’ve even read that some are suggesting that we prepare for a possible war…I’ll stay out of the political discussion here…but my suggestion is that the USA try to form a mutually beneficial strategic relationship with China. ***Greenspan Heightens Warning on Risky Mortgages http://www.washingtonpost.com/wp-dyn/content/article/2005/07/20/AR2005072002483.html ***Host With the Most…No wonder they call this feature “One Day Wonder” http://yahoo.smartmoney.com/onedaywonder/index.cfm?story=20050712&afl=yahoo …CAFE halted by the SEC until August 4th or 5th http://biz.yahoo.com/cbsmb/050722/4ca969f5c913421288d93c44afc48376.html?.v=1 Might mess up this site’s record http://www.marketwire.com/mw/release_html_b1?release_id=91232 ***Most overpriced places in the USA http://biz.yahoo.com/weekend/overpriced_1.html ***Friday’s Highlights http://biz.yahoo.com//cbsm/050722/8b98bc12e13640c995a36512a90d033e.html ***Organized labor locked in civil war http://biz.yahoo.com/ap/050724/labor_rift.html?.v=13 ***Top 100 Global Brands Scoreboard http://bwnt.businessweek.com/brand/2005/index.asp ***Ford Considers Cutting More Salaried Staff http://biz.yahoo.com/ap/050724/ford_cuts.html?.v=2 ***Briefing’s Weekly Wrap http://reuters.com/financeBriefing.jhtml?type=storyStocks ***Earnings Calendar: http://www.rightline.net/calendar/index.html Sign Up Today!!! No purchase is necessary to subscribe to these newsletters Day Trading Tips: Click Here! TrendTradingSystem.com Click Here! Sure-Fire Trading: Click Here! Stock Teacher Method: Click Here! Email Mini Course From The Way To Trade: Click Here! RECOMMENDED READING FOR INVESTORS Short Swing Trading Click Here! The Ultimate Stock Trading Guide: Click Here! 7 Things Every Investor Should Know: Click Here! for your FREE copy. Best To All, Doug (IIC) All information is obtained from sources considered to be reliable. However, we are not responsible for errors or omissions. ------------------------------ |
| Los Angeles | CA | 90034 |