| Weekend Report |
| July 31, 2005 |
Hi Everyone: I was a bit surprised “Again” this week that we did not pullback…Geez!!!...I said that last week. Well, I guess I have to be right eventually…LOL…I’m not predicting a crash or anything like that…but a healthy correction is in order IMO. July was pretty good overall…Naz up about 6%...NYSE up about 3.5%...SP 500 up around 3.5% too…But wait!!!...The monthly volume on the Naz and NYSE was the lowest since last September. Doesn’t seem to be much conviction in this recent move. And now we are flirting with Naz 2200…it took 7 tries at 2100 before we busted through. And what were we led by last week? The Tires Group up 7%....Yuk!!! Oil rebounded…which is good if you happen to own oil stocks…And the GDP was a bit of a disappointment. I wouldn’t be surprised if we made another try at 2200…but I do think we pullback soon. The Short-Term A/D issues and volume have indicated downside and we have bucked the trend…but fewer and fewer groups are advancing each week and I believe the trend will carry over to the indices soon. Every technical indicator I watch indicates downside on the Naz short term. Hopefully I won’t be typing that next Sunday. For the week, the Dow Super Sectors were 5 up 5 down led by Telcomm up almost 3%(See Telcomm article in the This ‘N That Section below. Top DJ Groups were Tires +7.00% Mobile Telcomm +6.03% Consumer Electronics +5.90%...Worst Groups were Marine Transport -4.62% Footwear -4.55% Mortgage Finance -4.08%. Last week Mortgage Finance was in the “Worst” Groups section too and in fact, it is the 5th worst performer this year down over 15%. I foresee a problem with this…Is this the first Group to go in the housing bubble??? A/D/U Issues for the week: Nasdaq 1770/1532/73 NYSE 2127/1364/91 AMEX 655/425/64 The DJIA A/D/U was 13/16/1. The DJ Composite was 32/32/1 and the Major DJ Groups were 52/47/1. I have updated the Nasdaq Short Interest page…see the Table of Contents over to the left. First time it has decreased in 5 months. And don’t forget to check the Weekly Economic Calendar. 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 QDEL PD VPI ABX PUMP GLDN NRG Flat Bases/Low Volume KNOT TEK BOOM CYCL CEDC MWD RMK DDDC AIG WMT ACAS SPI JPM RIV TRBS 50 dma moves upward through 200 dma PD EYE HRS WIRE ALO SORC ABGX MNST MEL JDAS FHRX PAYX CNF RSI(14) moves upward through 30 CLS TSG INNO EGLE RSI(14) moved upward through 50 AND an MACD crossover CYH CRAI Generally bullish short term technicals MAG ABP NETL MSLV Extremely Oversold PRX WOLF PBH TIV DTG Friday's new highs, closed up on at least 2x ADV ITT KNDL BOBJ SPN NDAQ WFMI MSTR NGAS MIDD WEN CUTR SWB RGR AACC MNT CW CYH MOBE ENTU RAIL TGI ARLP MDSI WFSI ECOL ABCO OPMR CLB BHS WES TRGL TTIL ACW GHM AMK ANSI AMH TNH RADS NTRI RT ATVI EVVV ZNT SF MTIX IMDC AT BNHNA WPI IIN ARG USM FSTR ACP LQ AMMD FINB TEC BTUI ABP JAX UNFI WHQ PTP AIM WWCA PRPX IFSIA LEAP HOM DCX MESA DFG ATRO SBCF GLGC ECTX SNAK ARRS HCC GEAC PWAV OUTL WEL REV PNB TWGP SUSQ BBNK PETS CDN ABXA 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 Smart Money’s Market Map http://smartmoney.com/marketmap Geez…I learn something new everyday…Maybe I should enroll in Remedial Momentum Investing 101? Low Volume Breakouts http://biz.yahoo.com/ibd/050729/corner.html?.v=1 This site has a lot of interesting info http://www.nasaa.org/home/index.cfm Visit my new site…http://OnlineBrokerDirectory.com We now have over 700 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 ***Federal Prosecutors Investigating Home Depot’s Handling of Hazardous Waste http://www.newsinferno.com/storypages/7-31-2005~002.html ***IBD wins lawsuit http://www.findarticles.com/p/articles/mi_m5072/is_21_27/ai_n13806595 ***Telecom legislation provokes conflicting views http://www.eet.com/news/latest/showArticle.jhtml?articleID=166403459 ***Morgan Stanley Announces Lay Off of 1,000 Retail Brokers http://www.nytimes.com/2005/07/29/business/29morgan.html ***Baidu.com, a Chinese-Language Equivalent to Google, Prepares for U.S. Stock Market Debut…Pronounced Buy-Do, the company is led by Robin Li, formerly of InfoSeek. The symbol on the Naz will be BIDU. http://abcnews.go.com/Technology/wireStory?id=993843 ***7 Stocks You Need To Know About For Monday http://biz.yahoo.com//tm/050729/12798.html ***China's Top 100 Companies http://www.businessweek.com/investor/content/jul2005/pi20050729_4338.htm *** Stocks' July Rally May Falter in Coming Week http://www.foxnews.com/story/0,2933,164169,00.html ***Stem Cells get boost http://www.forbes.com/home/feeds/ap/2005/07/29/ap2164600.html *** Private Prisons Experience Business Surge http://biz.yahoo.com/ap/050731/private_prisons.html?.v=1 *** Hackers Find Way to Get Around Microsoft's New Anti-Piracy Program http://biz.yahoo.com/ap/050729/microsoft_piracy.html?.v=3 ***You Want Fries With That IPO? http://smartmoney.com/onedaywonder/?nav=dropTab ***NDAQ quarterly results http://www.nasdaq.com/newsroom/news/pr2005/ne_section05_072.stm ***Heck…I’ll take the job…Murdoch son quit bcs tired of NYC-paper http://trimurl.com/1ZY ***Positive pre-announcements http://realtimetraders.com/marketinfo/g_minfo.asp?page=posearn&vid=9693161 ***You'll Never Do Research in This Town Again http://trimurl.com/1ZZ ***A Far East Quest: Nissan Becomes the First Japanese Automaker to Export U.S.-Built Vehicles to China http://trimurl.com/200 ***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 |