| Weekend Report |
| July 3, 2005 |
 Happy Independence Day!!! The markets were kind of “Blah” last week…Volume seems to be evaporating…and it was not too high to begin with. We can blame the Holiday weekend…but it’s always something. And the Naz volume was almost 3% less than the equivalent week last year. We got our expected bounce on Tuesday…But other than that there was not much to cheer about, although it is encouraging that we never closed below the 2045 support area. But then again, we couldn’t bust through the 2075-2080 resistance area either. I believe that we are OK as long as the mid 2040’s hold, but the technicals don’t look that hot….including the short term up/down volume ratio. I’ll change my tune from mildly bullish to neutral for now unless we can get through 2080 on volume at which point I would be somewhat bullish. But I see a problem even with that as there is some resistance at 2090 and just under 2100. EPS season will kick of late in the week…could make the summer be a bummer??? Watch for Same Store Sales (SSS) on Thursday too. For the week, the Dow Super Sectors were 7 up 3 down led by Utilities again +2.49%. Top DJ Groups were Full Line Insurance +6.15% Distillers & Vintners +4.95% Trucking +4.72%. The worst were Industrial Machinery -33.82% Paper -5.10% Internet -3.51%...However, The big drop in Industrial Machinery doesn’t make sense since none of the components were down that much as far as I can tell…so further research is necessary on that group. A/D/U Issues for the week: Nasdaq 1949/1355/81 NYSE 2500/1010/80 AMEX 611/471/61 The NH/NL figures for all three of the above were positive AGAIN which I like to see. But the gap is closing. The DJIA A/D/U was 13/17/0 led by BA and AIG both up over 4%. The DJ Composite was 45/19/1 and the Major DJ Groups were 77/23/0. The IIC 100 and Undiscovered Gems lists have been updated for July…See the Table of Contents over to the left. NEW…I have added two new pages at Mr. Breakout…A Daily Watch List Which Will Be Updated Five Times A Week And Some Great “FREE” Trial Offers To Stock Related Sites…You Will Find Them At The Top Of The Table Of Contents Over To The Left. 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 UNFI FRC ABX SBTV CRZO RADN MTSC PRA TRGL NGAS STN Flat Bases/Low Volume WPS USS MDKI RTSX AHS TZIX WLP 50 dma moves upward through 200 dma XL AGII SLXP NGAS PL SBUX RSI(14) moves upward through 30 AOS SPPI SRI LEE CHKP DISK RSI(14) moved upward through 50 AND an MACD crossover GWW OPMR BKI HYSL BRL GRMN Generally bullish short term technicals ABX PRST CFR UFI Extremely Oversold INNO BTRX TWP RDWR Friday's new highs, closed up on at least 2x ADV NXY MLAN CSWC VUL EXBD AF TPY AMED SOLD PANL OCR EFH MMS CFK FFI MCF URGI 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 you want to. 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 Canslim type 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 Take a look at the front pages of 306 newspapers http://www.newseum.org/todaysfrontpages/ Many of you have asked me about ETF’s…Well, I’m not particularly interested in them but here is a blog you might want to check out http://www.etfinvestor.com The Psychology Behind Common Investor Mistakes http://www.aaii.com/promo/evergreen/basics/jrnl200004p02.cfm Weak Volume After The Breakout May Indicate A Vacuum Of Buyers http://biz.yahoo.com/ibd/050608/corner.html?.v=1 On Jesse Livermore And His Legacy http://www.safehaven.com/article-2862.htm Historical Chart Gallery http://stockcharts.com/charts/historical Visit my new site…http://OnlineBrokerDirectory.com We now have over 670 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 ***TOL splits 2/1 at the close on Friday. ***Scrushy gets off despite 5 former CFO’s pleading guilty and implicating him. Now he wants his old job back at HealthSouth. Well, IMO he’s at least “guilty” of being incompetent. ***I’m still reading “Clean Sweep”…the autobiography of Barry Minkow of ZZZZBest Carpet infamy. Pretty interesting guy…He started ripping people off at the age of 9. *** China's CNOOC defends bid for Unocal http://trimurl.com/1MP ***Consumer Credit will be announced Friday…I expect a substantial increase. Same Store Sales are due out on Thursday for most retailers. *** 3M to repatriate $1.7B in earnings http://money.cnn.com/2005/07/01/news/fortune500/3m.reut/index.htm ***Earnings Season May Give Markets Some Clarity After Week Dominated by High Oil Prices, Fed's Move http://biz.yahoo.com/ap/050703/wall_street_week_ahead.html?.v=2 However, I’m expecting EPS reports to be generally lackluster for the 2nd quarter myself. ***Homeowners Deal With Rising Property Taxes http://biz.yahoo.com/ap/050703/property_tax_squeeze.html?.v=2 ***Let’s see…GM has the best sales record in June in the past 19 years with their “Employee Discount” offer. Sounds great…on the surface. But I’m estimating (actually guesstimating) that the discount cost them about $70 million…I guess the more you sell the more you lose??? ***U.S. Insistence on Controlling Internet's Main Traffic-Directing Computers Draws Fire http://biz.yahoo.com/ap/050702/internet_control.html?.v=1 ***Total GDP by country http://www.worldbank.org/data/databytopic/GDP.pdf ***Good Sign? AAII Bullish Sentiment has dropped the last few weeks. Bearish has increased substantially as many of the neutrals apparently became negative. ***New Test Would Evaluate Internet Intelligence of College Students http://biz.yahoo.com/ap/050701/internet_intelligence.html?.v=2 ***For $10,000, Woman Tattoos Ad on Forehead http://cnews.canoe.ca/CNEWS/WeirdNews/2005/06/30/1112158-ap.html ***A few winners in the 2nd Quarter: NTRI +134% MNTA +133% PTC +106%...Interesting to note that PTC first appeared on the IIC 100 on March 6th at # 57. On April 13th it moved up to # 13, On May 8th it rose to # 4 and on June 5th # 1. It remains in the top spot for July. ***The big loser for the 2nd qtr….ABRX -85% ***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 |