| Weekend Report |
| June 26, 2005 |
Hi Everyone: Tough week!!! Only 7 of the 100 DJ groups were green. But it does go to prove what I’ve always said…”No matter what the market is doing, there’s always something moving”. That statement may be good for long day traders, but for others it was mostly pretty bleak…unless you are adept at shorting. There seems to be some question about what the volume really was on Friday. The After Hours volume was massive…but I think that maybe much of that volume was late reporting??? Whatever, the volume was high. I’m sure the Rus 2000 re-shuffle had something to do with it, but Oil, China etc…played a role. The volume rose each day this week on the NYSE and Naz. Distribution?...Maybe. But I’m viewing it as another failed attempt to blow out 2110 on the Naz. Look at a daily chart back to January 1st. I count 7 tries since the beginning of the year. In my opinion I believe that if the 2045 support level holds we will make another attempt by mid July. If we go down under about 2025…it could be a long summer. Technically, the overall markets look pretty bad. The Naz went from Short-Term Overbought to Oversold on Thursday. Be prepared for a bounceback on Monday or Tuesday. Watch the StochRSI(14) for a possible move above .20. I use technicals as a guide…but oftentimes they are tricky. Of course, news can blow out short term technicals. Watch for the GDP announcement pre-m on Wednesday and the FOMC at 2:15PM EDT on Thursday. For now, I remain mildly bullish. Naz Short Interest hits ANOTHER record high on June 15th. Check the Short Interest page in the Table of Contents over to the left. For the week, the Dow Super Sectors were 1 up 9 down led by Utilities. Actually, Electric Utilities carried the group. Basic Materials were hit hard, down over 5%. Top DJ Groups were RE Holdings/Development +2.51% Internet +1.78% Investment Services +1.43. The worst were Steel -12.89% Platinum & Prec. Metals -7.07% Non-Ferrous Metals -6.84% A/D/U Issues for the week: Nasdaq 1229/2063/88 NYSE 1312/2191/66 AMEX 422/651/60 The NH/NL figures for all three of the above were positive AGAIN which I like to see. The DJIA A/D/U was 0/29/1 (MSFT was the unchanged one) , DJ Composite was 11/53/1 and the Major DJ Groups were 7/92/1….OUCH!!! 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 RATE CRZO PRA WCG UNFI FRC Flat Bases/Low Volume WPS PNC WLP 50 dma moves upward through 200 dma PTP ODSY HYC SPIR CLE ABX RSI(14) moves upward through 30 MOGN UACL RSI(14) moved upward through 50 AND an MACD crossover AMGN VLCCF BOL Generally bullish short term technicals KEYW OMR AINV NSTK SGK URS DGICA Extremely Oversold GDT GGG CKXE ARBX BDX TWP CPC Friday's new highs, closed up on at least 2x ADV LM FCEA ESGR STJ KYPH ERIE TWGP XTEX GFR HOME CBG TLWT EFSC TDSC SGK SHEN FOXH GLYT SBAC DNR HRZB RRC TAYC EDR KEYW DLR CRWNE SNMX JWA SVM PLLL SLF ORCC NUVA SF ECOL GNW HLF GET ARP PDC CLFC PA TPY BMRN LOJN AMT SBIB NURO AEZ NMO URGI RML BHK CALC CMS AMCS MPT DSTME UNWR 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 Russell Indices info http://www.russell.com/us/indexes/us/default.asp Insider Transactions: http://www.secform4.com Online Investor Index http://ameritradeindex.com/nas_graph.html ETF’s http://www2.barchart.com/mktetfx.asp?sort=6 Visit my new site…Still under construction http://OnlineBrokerDirectory.com We now have over 650 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 ***JWN splits 2/1 at the close on Thursday ***Ford Motor lowered outlook again last week. Auto sales will be announced on Friday ***Chips Report Generally Stale Earnings http://trimurl.com/1JW ***Credit cards: Minimums on the rise http://money.cnn.com/2005/06/24/pf/minimum_rise/index.htm ***More sharks in home loan waters http://money.cnn.com/2005/06/22/real_estate/sp_mortgage/index.htm ***Technical Analysis: Nasdaq On Support http://www.internetnews.com/bus-news/article.php/3515631 ***China Rejects Pressure to Change Currency http://biz.yahoo.com/ap/050626/china_currency.html?.v=4 ***Seek robust value stocks in low-cost index funds http://trimurl.com/1JX ***Greenspan warns on Chinese tariffs http://trimurl.com/1JY ***Stocks to tune into Fed, consumers http://biz.yahoo.com/rb/050626/column_stocks_outlook.html?.v=1 ***Major Advertisers Caught in Spyware Net http://biz.yahoo.com/ap/050624/spyware_s_advertisers.html?.v=4 http://biz.yahoo.com/ap/050626/spyware_word_wars.html?.v=1 ***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 |