| Weekend Report |
| March 13, 2005 |
| Hi Everyone: Tough week…only 2 DJIA issues were up for the week, United Tech and Merck. The Utilities were just as bad at 1 up 14 dn. Transports were up a fraction on the week with 11 up and 9 down. The only other major index up for the week that I follow was the Naz Telcom. The top DJ Groups for the week were Transportation Services, Gold Mining and Defense. Y-T-D the top groups are oil related and Coal. The NYSE Energy Index took a big hit, down over 3%. The AMEX was down over 3% too. I don’t know how many of you noticed this…On Monday the Naz was up almost 20 points with up vol more than 3x down vol 1,458,000/437,000. But the A/D issues was negative at 1548/1611. The remainder of the week was pretty bad with 2.3bil up and 4.7bil down on the Naz volume. The Naz ARMS was at 2.02 on Friday…not encouraging. In fact, the technical indicators I follow suggest further short term downside on the Naz. The 10 day Up/Down Volume Average Oscillator went negative Friday on the Naz. I’m not going to say it’s gospel, but every time that has happened over the past year there has been some short term downside. But I think it is pretty good that volume has been running on the low side as we continue in a range. The A/D/U issues for the week were: Naz 1102/2241/72, NYSE 834/2695/60 and the AMEX 329/724/58. On Friday the A/D/U for Bulletin Board stocks was 714/757/447 while the A/D/U volume was 481,489,000/305,558,000/425,264,000. 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 LPMA JBX OSG CHTT MAD OMM TNP WTZ ULTI Look at a weekly chart to see the pattern on these: RVSN SMMX SORC Flat Bases/Low Volume DDD CLCT TWI OZRK KZL RUBO PRV PR POS PNN PDX NLS NCRX IDR Also watch: HD ADVNB AGO IED LNC CB HB WSTC WCN 50 dma moves upward through 200 dma ARO IDTI INTC HLTH RSI(14) moves upward through 30 FS FARO WIBC INKP XOMA NERX AXYX PDSN SKIL RSI(14) moved upward through 50 AND an MACD crossover SIRF Generally bullish short term technicals NRD MOVI NUEP Extremely Oversold OSIP ELN EPIX ILMN REGN DPH NTEC FOB FMXI ACEL VVUS PWER CRA NPSP AGIX RSCR Friday's new highs, closed up on at least 2x ADV KMRT S HORC NIHD BOOM SKO ZQK GSOL BEC TCI JLG DAVE PSYS CQB SDX TMS NRD MDRX SSL HSII OPMR NIS DATA GXY VOLVY RGLD KEF MTY BABYEVP ADO KGT MCZ KMM 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 they want to. Top Sectors on Friday Worst Sectors on Friday …If you have Dow Jones News you can see these every hour on the hour until the market closes. 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 Inflation calculator http://data.bls.gov/cgi-bin/cpicalc.pl Read BusinessWeek online…no charge http://www.businessweek.com Is your stock a lemon? http://www.stocklemon.com Up to 5 FREE Canslim evaluations a day for non-subscribers http://www.breakoutwatch.com/canslim And don't forget to check out the new listings at FinancialLinksOnline.com This 'N That ***Capital One announces they are getting into the retail banking business. They buy Hibernia Bank in New Orleans for $535 bil. http://trimurl.com/YP ***The S & P will begin “re-weighting” its indices to improve liquidity. Rather than weight them using shares outstanding, they will use float. Here is a Q & A regarding the gradual adjustment that will begin on March 18th http://trimurl.com/YQ For more info: http://trimurl.com/YR ***U.S. takes over United Airlines pension plan http://www.reuters.com/newsArticle.jhtml?type=businessNews&storyID=7879740 ***Delta Airlines outlook bleak http://www.newratings.com/analyst_news/article_728684.html ***In Annual Letter to Berkshire Hathaway Shareholders, Warren Buffett Cautions Not to Abandon Ship http://biz.yahoo.com/ap/050313/wall_main_4.html ***A flood of U.S. economic data will hit investors this week, indicating strong sales, healthy output and declining homebuilding, economists say ***OPEC meets in Iran on March 16th ***Upcoming splits in the next few weeks: CWTR 3/2, DHI 4/3, AMMD 2/1, ATVI 4/3, IIVI 2/1, QSII 2/1, OPTN 3/2 ***Friday is Quadruple Witching Day…Contracts for stock index futures, stock index options, stock options, and single stock futures (SSF) all expire. ***Shares of Sepracor Inc. (SEPR) rose 2% to $61.08 in the late trading session Friday after the Food and Drug Administration gave the company's Xopenex product the green light to be used with asthma inhalers. ***The FDIC announced limits on State chartered banks issuing “Payday Loans” This will affect one of my past favorite holdings, FCFS…but apparently only in Texas. First Cash says that 33% of its gross profit comes from payday loans and 40% of those are in Texas. ***Has your portfolio gone down the drain? Last chance to go bankrupt under the old laws… already passed the Senate, now the proposed law goes to the House. http://www.chron.com/cs/CDA/ssistory.mpl/politics/3079471 ***Darn…My house was #16…LOL. Take a tour of 15 billionaire’s homes… http://biz.yahoo.com/weekend/billionairehomes_1.html ***Speaking of billionaires…Forbes list came out last week http://www.forbes.com/home/billionaires/2005/03/09/bill05land.html ***What usually happens when one person has too much power???... Chinese President Hu Appointed Military Head …3/13/2005 1:26:07 AM In what is said to have completed the transfer of leadership from the previous Chinese President, Jiang Zemin, the current President of the Chinese State, Hu Jintao, took over as Chairman of the state’s Central Military Commission. The BBC reported Sunday that the country’s parliament, the National People’s Congress has approved the new appointment. The report disclosed that Hu now holds all top positions within the Party, the military and the Chinese state. *** FWIW…I’m hardly an economics expert, but I posted some things about the price of gas that you might find interesting in this Forum Topic. You do not have to be a member to read it: http://www.reedfloren.com/forums/index.php?showtopic=1233 ***And an EPS calendar http://www.rightline.net/calendar/index.html Be cautious this week, Doug (IIC) |
| Los Angeles | CA | 90034 |