| Weekend Report |
| June 5, 2005 |
Hi Everybody: Well, the Overbought situation I mentioned last week seems to have caught up with us. Every indicator I watch, with the exception of the New Highs/Lows indicates more downside short term on the Naz. Will be interesting though to see if Greenspan gives any indication on interest rates at the IMC on Monday…That could briefly blow the lid off the technicals, but I don’t see him stopping till we get to 4% myself. Volume continues on the low side. I’d prefer to see the volume dry up some more on the Naz down to 2030 or even 2010…maybe a consolidation and then a volume move up through 2100. Nice to see the Dow Jones Internet Index doing well. It is now down 6.5% Y-T-D…But earlier this year it was down about 20%. It has had a great run since mid April. You can view the chart at Stockcharts.com. The symbol is $DJINET ... There are also some other Internet Indices that are doing very well. For the week, the Dow Super Sectors were 5 up 5 down led by Oil & Gas and Utilities. Top DJ Groups were Distillers/Vintners +5.4%...”I’ll drink to that”, Coal +4.9% and Mobile Telcom +3.8%. The worst were Automobiles -2.5% Auto Parts -2.09% and Tires -2.08%...an indication of the continually weakening US Auto Industries. Y-T-D…The best DJ Groups are Oil Exploration & Production +26% Coal +25% and Distillers/Vintners +21%. The worst of the worst are Platinum & Precious Metals -39% Consumer Electronics -33% and Automobiles -26% A/D/U Issues for the week: Nasdaq 1737/1532/98 NYSE 2338/1559/77 AMEX 651/408/68 Interesting to note that although the Advance/Declines were positive, both the Naz Comp. and NYSE closed red. The NH/NL figures for all three of the above were positive again which I like to see. The DJIA was 5/25/0, DJ Composite was 29/36/0 and the Major DJ Groups were 52/47/1 The IIC 100 and Undiscovered Gems lists have been updated for June…see Table of Contents over to the left. Starting tonight, I am offering FREE subscriptions to my Daily Watch Lists. The lists will be automatically emailed to you five times a week. All email addresses will be held in strict confidence and there will be an option for you to unsubscribe at the bottom of every email. To subscribe, simply send a blank email to: MrBreakout@sendfree.com 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 NCTY RARE SVNT MTH YUM SJM OFI CNS LAUR Saucer w/ handle: GE Flat Bases/Low Volume SIE HSY PLA LSCP AHG TRAD CMA KFT EMC WLP RAI LMT CLX GWW SSP GSK GGG UST 50 dma moves upward through 200 dma AZO NFLX WFC NSIT PMTC LWAY SKT AFL WRI RSI(14) moves upward through 30 NPDV RSI(14) moved upward through 50 AND an MACD crossover TOA CORI Generally bullish short term technicals STST CNC LCAV Extremely Oversold CPTS ENC BCGI ENZN Friday's New Highs, Closed up on at least 2x ADV CME ESE ABLE NTES GEOI PAY FADV UHCO OTTR TTWO PZZA BOY RESP HLTH PEI IIJI GBP HTG IFCB BSD VPHM TGE DRYR PHI CPI RWY BSMD GEMS ANF BMD 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 Earnings.com has a new look http://earnings.com Like charts??? Pack a lunch http://charts.dacharts.com 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 ***UTX, the most heavily weighted DJIA stock will split 2/1 at the close on Friday. In case you were wondering, here are the DJIA stocks in descending weighted order: UTX CAT IBM MMM MO JNJ BA XOM PG AIG AXP WMT C DD KO HD GE HON JPM VZ MRK GM MCD PFE AA INTC DIS MSFT SBC HPQ ***SWN ASCA both split 2/1 on Monday. BEBE splits 3/2 the same day. ***All I can say is Arthur Andersen is lucky I’m not sitting on the Supreme Court. ***Same Store Sales (SSS) came out for May last week and I’m not impressed. Overall +3.1%. Every moth this yesr has seen a lower increase vs. the same month in 2004. SSS numbers started their fade in June 2004. There were a few nice reports though: WTSLA +57% BEBE +40% ANF +29% AEOS +17%. There are various reports, but I use the Bank of Tokyo’s. If you would like to view the entire report visit http://www.btm.co.jp/english Then click America’s Internet Reports…Then click Chain Store Sales…Then click the month. ***EBAY should gap on Monday. ***I expect the trade deficit to increase after a surprising decrease last month. Will be announced on Friday. ***Circle T announced that unauthorized trading caused a loss of “less than 10%”…Is that all??? I’d like to know what they intend to do about it…I recommend treble damages…just like people who write bad checks. Here is the definition of “Treble Damages”: Means "triple damages." The judge, in some civil cases, may award the winning party the amount equivalent to damages suffered, and an additional amount that is three times that amount. Treble damages are intended to punish the guilty party and discourage others from similar behavior. ***Dallas Federal Reserve President Fischer said last week that the Fed is in the "eighth inning" of the current round of tightening. He doesn't speak for the entire Fed, but the implication is that “MAYBE” the Fed won't raise that target for the fed funds rate much higher from the current 3%. Pretty BIG MAYBE in my opinion. I didn’t think about it at the time when I heard that statement…But, I wonder if he knew the job numbers before they were announced? ***More on interest rates http://trimurl.com/1C8 ***40 year mortgages??? http://trimurl.com/1C9 ***Teva warns ruling to cut Q2 EPS http://biz.yahoo.com/rb/050605/health_teva_abbott.html?.v=1 ***Maybe I should set up a site for pre-schoolers? http://nces.ed.gov/pubsearch/pubsinfo.asp?pubid=2005111 ***Eye On Stocks For Monday, June 6 http://trimurl.com/1CA ***GM and Ford announce production cutbacks http://biz.yahoo.com/ap/050604/midwest_slump.html?.v=2 Here is an interesting article on US Manufacturing. Click the December 30, 2004 report http://www.harbourinc.com ***Briefing’s Weekly Wrap http://reuters.com/financeBriefing.jhtml?type=storyStocks ***Earnings Calendar: http://www.rightline.net/calendar/index.html FREE EMAIL NEWSLETTERS 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 |