| Weekend Report |
| June 12, 2005 |
Hi Everybody: Well, the Naz overbought situation I was whining about the last two weeks is gone…I still see the NYSE as a little overbought on the Advance/Decline Issues Line but other indicators seem to depict the O/B situation is over. But, the short term trend is indicating some downside on both. Last week, I expressed hope that the Naz would drop down to 2010-2030 on low volume. Well, the low volume is still there, but the volume drop off trend that started May 2nd started to reverse itself last week. (See a weekly volume chart). But, Friday’s volume was pretty pathetic. I would say that as long as the Naz can stay above major support in the mid 2040’s we should be OK. One indicator I watch is the Short-Term Moving Average for Up/Down Volume. The Naz is very close to seeing the Down Line cross Upwards through the Up Line…This is not encouraging. The NYSE is approaching this area too. But I’m changing my Bearish stance to Neutral…Much will depend on news this week. The PPI and CPI (see the Economic Calendar page) along with reports from Lehman Tuesday, Bear Stearns Wednesday and Goldman-Sachs Thursday could influence the direction. Lehman is projected to beat last year, however, the other two are not. That part does not really matter though…What does matter is that they at least meet projections and hopefully offer some upbeat guidance. Beware that Friday is Quadruple Witching Day…So be prepared for some possible volatility. For the week, the Dow Super Sectors were 7 up 3 down led by Oil & Gas +2.47%. Top DJ Groups were led by two of the worst performing groups Y-T-D…Automobiles +5.79% thanks to GM’s union negotiations, Consumer Electronics +3.67% and Oil Equip/Svcs. + 3.60%. The worst were Trucking -4.75%, Delivery Svcs. -3.44% and General Mining -2.96%. Y-T-D…The best DJ Groups are Oil Exploration & Production +29.03% Coal +28.74%% and R.E. Holdings/Dev. +22.06 followed by Distillers/Vintners +20.72% and Healthcare Providers 18.72%. The worst of the worst are Platinum & Precious Metals -38.28% Consumer Electronics -30.14%% and Automobiles -21.77% A/D/U Issues for the week: Nasdaq 1763/1490/115 NYSE 2086/1391/95 AMEX 540/524/65 Interesting to note that although the Advance/Decline Issues was positive the past two weeks, the Naz Comp. closed red both weeks. So far, the Naz has closed up 10 weeks this year and down 13 weeks. The NH/NL figures for all three of the above were positive again which I like to see. The DJIA was 13/15/2, DJ Composite was 26/32/7 and the Major DJ Groups were 58/42/0 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 LAUR STN SRCL MTH DHC Saucer w/ handle: GE Flat Bases/Low Volume CMA TARR AME GWW HSY LMT WLP PBCT BONT GET TRY 50 dma moves upward through 200 dma AMTD CIT CDX NHP RSI(14) moves upward through 30 BBW SHE QLTI BCGI TELK IDWK ARBX RSI(14) moved upward through 50 AND an MACD crossover SBC PETCE Generally bullish short term technicals RRI NANO EQT HOC Extremely Oversold FDP ENC CMN GTN ADAT Friday's new highs, closed up on at least 2x ADV PRWT ADCT FDEF LUB CFW PBIP BSD ECOL PLCC CNXS LOJN CLDA NUVA BLUD LGTY LRNS LKQX BJRI CAE AFBK RL IIJI SCC GEMS ATLO BOSA ENTU NXC DLR CDX 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 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 Looking for Canslim type ideas? This site offers a great value GabrielsMoneyPage.com Best and Worst Y-T-D http://trimurl.com/1DP More IndustryGroup Info Click Here Free Real Time Market Summary http://trimurl.com/1DO Ask Yahoo http://ask.yahoo.com/ask/most Have a little fun and flatter yourself http://trimurl.com/1DN Visit my new site…Still under construction http://OnlineBrokerDirectory.com We now have over 600 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 Founded a year and a half ago by Minnesota High School Whiz Kid, Reed Floren, …The Forum has over 1,600 members…Plus a live chat room open 24/7. The forum caters to all types of traders/investors from daytraders to long-term investors. MrMarketIsHuge.com It’s hard to argue with success!!! Mr. Market now boasts over sixty-five 15%+ winners in a row. He even offers up a link to his homepage where he describes exactly how he does it. But that’s not all…There are other Forum Topics designed to be of interest to all types of investors. One of my Fave topics and the most popular one in terms of page views is “Spike's Scientific Stock Analysis” led by the Master technician himself; Spikefader. With close to 1,400 members the Forum also holds a weekly stock picking contest where you can pick up some interesting new ideas. MasteringTheMarkets.com A newer Forum with close to 300 members…This one has it all…Technicals, Updated News, Daytrading Ideas, Earnings, Futures, Forex, Penny Stocks, Mutual Funds and just about anything else you might be looking for. This 'N That ***Now Sihpol is acquitted…He stated that he didn’t realize that it was illegal to trade on after hours news at the closing prices…WHAT?!?!?!...No wonder defense attorney’s always dismiss me from jury duty. Wonder who Bank of America’s Chief Ethics Officer is? Here are a couple of quotes from the jurors… "We felt something was definitely wrong with the late trading and all that, but we felt the people who should have been on trial weren't on trial," said juror William Huddleston, 50, a custodial worker. Juror Cheryl Fader, 52, an independent bookseller, said, "I don't think he had any intent. I think he followed the bank's policy, and if anybody should be penalized it's the bank." ***The continuing saga of GM…Announced that they are cutting 25,000 jobs. ***MW splits 3/2 at the close on Monday. HORC splits 2/1 on Tuesday. HORC is interesting, not many shs out…about 7 million (approx 5 mil float). The ADV is only 55,000. I figure that they are splitting possibly to get more institutions interested. But, I noticed that funds have already been quietly accumulating since the first of the year…Worth a look. ***CPI will be announced on Wed. Pre-M *** Microsoft bans 'democracy' for China web users http://trimurl.com/1DQ ***Today's growth stocks not necessarily tomorrow's http://trimurl.com/1DR ***Three Stocks You Need To Know About For Monday http://biz.yahoo.com//tm/050610/12660.html ***Wall Street On the Run http://trimurl.com/1DS ***Evaluating China’s Currency http://biz.yahoo.com/special/yuan05_article1.html ***Nanotechnology Could Soon Be Everywhere http://optionetics.com/articles/article_full.asp?idNo=12615 ***Finding a new captain for our economic ship http://trimurl.com/1DT Speaking of Greenspan…And I quote “It’s very difficult to know the neutral rate for the economy, but we probably will know it when we are there” Well, I’ve been practicing my Green Speak and you can quote me “The market will probably go up tomorrow, but if it doesn’t…it will go down or remain unchanged” ***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 |