| Weekend Report |
| May 8, 2005 |
Happy Mother’s Day: Where’s the volume??? Naz was about 1.5 bil on Friday and it steadily decreased all day. Doesn’t seem to be a whole lot of interest in the markets lately. Last week I said that it was good that we bounced off 1889 support. This week I think it was moderately bad that we couldn’t break 1975 resistance. Some indicators are oversold short term on the Naz but I wouldn’t be surprised to see a little upside this week on Tuesday or Wednesday…but CSCO EPS could affect that. Overall though, I look for a down week on the Naz. New Highs/New Lows continue negative…Last week they were 126/339. However, the NYSE was 187/117. Last week I said that the NYSE looks a little better than the Naz. I still think it does for the very short term. 8 of 10 DJ Super Sectors closed up for the week led by Basic Materials. The two laggards were Telcom and Utilities. Top DJ groups were Coal, Tires and Insurance Brokers….What a difference a week makes…the week before last Forestry was the top group…Last week it was the second worst. The worst was Fixed Line Telcom and the third worst was Investment Services. The A/D/U’s for the week were Naz 2034/1262/82… NYSE 2458/1008/109… AMEX 693/369/58… DJIA 23/7/0… DJ Composite…47/18/0. Just doesn’t seem to be anything to get excited about right now…I will continue to focus on short term moves. The IIC 100 and Undiscovered Gems are updated…see the TOC over to the left. I made a comment not too long ago that maybe you should consider shorting the # 1 stock in the IIC 100…Hope you listened…Last month # 1 was TSRA…lol…Guess there is no where else to go when you are # 1. 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 MROI DWA RRGB Look at a weekly chart to see the pattern on these: SORC RATE Flat Bases/Low Volume AIRT FORM INNO NTLI FAC NRPH TIMHY APCS OHI BONT VNBC MXT BLKB 50 dma moves upward through 200 dma WLSN TSN LIFC RSI(14) moves upward through 30 GIVN SERO GFF ENS BRCD MACE TYL INPC KBAY COOL AMCS RSI(14) moved upward through 50 AND an MACD crossover AHC TFSM PSS CBH TTC HUBG FS MEG TK ABCO TLM SCHS TLK MEOH GLNG PQUE Generally bullish short term technicals AYE PTC Extremely Oversold IOM PDII RGF Friday's new highs, closed up on at least 2x ADV CTO ABCO OICO PDX LABL ABRX UN OIS CRXL LB BMI DSL IRIS GLW KAMNA LQU SRZ BGC SFF SSY SRP FLOW ARCAF ENN HDNG TEAM CNU RNWK PMD BABY PWEI DVD CMT LYTS RMD 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 Looking for Canslim type ideas? This site offers a great value: GabrielsMoneyPage.com Some helpful FREE info http://investmenthelp.org Learn about candlesticks http://www.candlestickforum.com Yahoo Buzz http://buzz.yahoo.com I’ve mentioned this one before…But if you like stats… http://www.bls.gov America’s Top 1,000 High Schools http://www.msnbc.msn.com/id/7723397/site/newsweek We now have almost 600 Financial Site listings at FinancialLinksOnline.com  This 'N That ***Why the S & P cut GM to Junk…Personally I think it was because of what I wrote right here on April 10th: Ford Motor reduces outlook and was down big After Hours on Friday…Ford said in a statement released after the closing bell. "The company's analysis of recent market trends, which include the prospect of higher and sustained gasoline prices and continued aggressive pricing actions by competitors, have led us to conclude that further challenges lie ahead." Guess they can join GM in the “Junk” status. Speaking of GM, last week the CEO announced he was taking over the North American Operations…What??? I thought he was already in charge of those…Maybe we’ll see him on the assembly line…LOL http://trimurl.com/13 But maybe not…see this: http://www.businessweek.com/investor/content/may2005/pi2005055_7793_pi036.htm ***Same Store Sales(SSS) were less than stellar in April. Overall +2.3% vs. +3.7% in April ’04. Specialty Retail led by WTSLA BEBE and AEOS was only +2.3% vs.+ 5.0%. Last year’s annual overall was +4.0%. The annualized figure for this year is 3.8%...Doesn’t seem like much of a decrease at first glance…BUT, last year the annualized figure for the first 4 months was 5.8%...So beware! ***Big Blue to cut 4% (13,000 positions) of workforce. IBM announced that they will meet EPS targets…Not by revenue growth, but by cost cutting. ***CSCO reports Tues. and DELL on Thurs….both after the close. ***KWK splits 2/1 after the close on Wednesday. *** Tougher Stance on China Currency Adopted http://trimurl.com/17R ***Investors Warned Over Defensive Stocks http://trimurl.com/17P *** FDIC limit increase would help retirees http://trimurl.com/17Q ***San Francisco wins stem cell HQ http://trimurl.com/17N *** Wall Street's Uncertainty Outweighs the Good News; Mixed Results Follow Positive Reports http://trimurl.com/17S ***Last week I mentioned that the Popemobile was for sale on EBAY…Well, it sold: http://story.news.yahoo.com/s/nm/20050506/od_nm/pope_ebay_dc/nc:757 ***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 |