| Weekend Report |
| May 29, 2005 |
Happy Memorial Day Weekend Everyone: Short-Term OVERBOUGHT OVERBOUGHT OVERBOUGHT…That’s my opinion anyway. Doesn’t mean we can’t stay that way a bit longer though…but again this week the volume was low…Seems that there is a lack of conviction here. Short Interest on the Naz hit another record high for May…But the Naz Small Cap Short Interest by itself actually went down 4.6% vs. April. I have listed the Naz Short Interest back to 1999 …See the TOC over to the left. The market may end up being driven by news this week. Car Sales for May on 6/1…Chain Store Sales for May on 6/1…I’m not optimistic on either. Unemployment on Friday Pre-M. The major averages are all positive for May. But, although I did OK in May I did better in April and much better in March…Go Figure!!! One thing I hadn’t noticed though is that even 30 of the 36 Indices I watch are red for the year…All 36 are green for the past 52 weeks…That’s a positive. As you may recall, I said we’d see an 11,000+ close on the DJIA before we saw a sub 10,000 close. I said that in March…and although we were sub 10,000 Intraday in April… I think we are on the right track to hit an 11,000+ close in the near future…with the occasional bumps along the way. 9 out of 10 DJ Super Sectors closed up for the week led by Oil & Gas +5.69%. The only one that did not was Consumer Goods -.38% The top DJ Groups were Gold Mining + 6.77% Oil & Gas Exploration +6.62% Platinum & Prec. Metals + 6.17%. The losers were Toys -2.78% Furnishings -2.50% RE Investment Trusts -2.32%. A/D/U Issues for the week: Nasdaq 1867/1404/103 NYSE 2271/1214/98 AMEX 708/352/71 The NH/NL figures for all three of the above were positive which I like to see. The DJIA was 18/12/0 and The DJ Composite was 36/29/0 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 SVNT MTH GOL LTC POOL Flat Bases/Low Volume WLP SIE SRX STNR SYGR CMA PHS PEP EMC HSY IHP JOYG KFT KNX KO MAY MTD MXT NCOG 50 dma moves upward through 200 dma ADVS …Also, the following are just about to possibly crossover ARIA TWTC RSI(14) moves upward through 30 PRGO IFOX LAB NSTC TAP WPSC RSI(14) moved upward through 50 AND an MACD crossover FPL LSE MRH ACO Generally bullish short term technicals POOL SVNT SRDX CEN Extremely Oversold XIDE ENZN NINE DRL Friday's new highs, closed up on at least 2x ADV ABLE ESL CHS SNHY CCI VPHM TLWT BKE PRLS BOY BMD ECIL TXCC 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 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 Free Mutual Fund Prospectuses http://Barrons.fundinfo.wilink.com Free Webcasts on jillions of companies http://vcall.com 100 Corporate Criminals of the Decade http://www.corporatepredators.org/top100.html 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 *** WLP splits 2/1 at the close on Tuesday…Notice the flat base on drying up volume. BEBE splits 3/2 on Friday. ***U.S. Millionaires, excluding primary residence: 1996: 4.9 million 1999: 7.1 million 2004: 7.5 million Well, with inflation…One we’ll all be millionaires…LOL ***”Too much money may be chasing too few good opportunities-The likely outcome: A Shakeout” Headline from Barron’s regarding Hedge Funds. If you don’t subscribe to Barron’s you may want to run down to the newsstand and pick up the new issue. It lists all the components of the Dow Jones Industry Groups. *** Fears grow over losses at Chinese brokers By Geoff Dyer in Shanghai Published: May 29 2005 18:41 | Last updated: May 29 2005 18:41 The crisis in China's brokerage industry could be worse than thought after a local ratings agency calculated that 50 “relatively healthy” brokers saw a total loss last year of Rmb4.7bn ($568m). Xinhua Far East China Ratings estimated, based on publicly available figures, that to recapitalise the 50 brokerages which account for less than half the industry the government would have to spend at least Rmb21.9bn. *** Stocks may brake for jobs data http://trimurl.com/1A7 ***IRS Closing 68 Taxpayer Assistance Centers http://trimurl.com/1A8 ***Eye On Stocks For Tuesday, May 31 http://trimurl.com/1A9 ***This is surprising to me…Rate on 30-year mortgage at 5.65%, lowest since mid-Feb. http://trimurl.com/1AA ***Briefing’s Weekly Wrap http://reuters.com/financeBriefing.jhtml?type=storyStocks ***Earnings Calendar: http://www.rightline.net/calendar/index.html Best To All, Doug (IIC) |
| Los Angeles | CA | 90034 |