| Weekend Report |
| November 28, 2004 |
Hi Everybody: Hope you all enjoyed a long weekend. After many of the indices pulled back on Friday, November 19th, they resumed their upward trend on a holiday shortened week. Unfortunately, in my opinion anyway, this is not a good sign. I have been hoping for a healthy pullback for weeks now. I have been looking at many short and intermediate term indicators this weekend. Looks like a tough call on the market direction. But, two of the simplest intermediate term indicators do not look good. Take a look at the Advance/Decline Oscillators page(Over to the left in the Table of Contents). As you will see, the Nasdaq and NYSE Advance/Decline lines for both the Issues and Up/Down volume are at their highest levels as far back as the chart goes. This is an intermediate term bearish signal. On Friday, even though all three of the Dow Jones Major Indices were up, the Advance/Declines were down on the Industrials and Transports by a fairly substantial margin. 11/19 and 7/12/1. The Advance/Declines/Unchanged for the SP 500 were 269/223/8, Nasdaq 100 40/59/1, SP MC 400 196/191/13, SP SC 600 303/276/21 and the NYSE was 1848/1233/170. The Nasdaq was 1688/1211/150 while the Advanced/Declined/Unchanged volume was 410538645/246448607/13791487 and yet the Composite closed slightly down for the day. Well, we'll just have to wait and see. But I suggest keeping a close eye on things so you don't get caught off guard. ***Don't forget to check some of the other pages in the Table of Contents (over to the left). I added some new charts and the Nasdaq Short Interest is updated for November. The Support/Resistance, Calendar and Oscillators are always updated too. 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 DAB DPTR DVA GYI LEV ORLY QSND MNS VION USU Still worth watching from last week: KWK VRX CPE SYNM CHE MNST ZLC RECN WFMI EPIC SMBI WMS BGFV KFY SNY FINL SONE From last week's list the following were of note: GISX +4% GRMN +10% both on volume. The following passed their pivot points but the volume was not there: AIN +5% HNR +9% PPP +3% BKI +6% EW +5% ASPG +6% MACD Crossovers AMXC CRK EXPD NVAX PLUM RECM ROIAK TNH PTY GLNG From last week's list the following were up at least 3%(rounded): GASE +18% DNR +9% NFX +6% BEXP +7% GAXI +6% APA +4% NOI +8% MVSN +4% Flat Bases/Low Volume ACAS IRIX JBSS GMAI KNTA From last week's list the following were up at least 3%(rounded): FXEN +20% MMC +5% 50 dma moves upward through 200 dma AMTD WGII WMS KMX ORLY RGS SBL MCIP KOMG TEN STK INTL IBM DISH CRA BRP From last week's list the following were up at least 3%(rounded): CRO +5% GISX +4% Generally bullish short term technicals BCE VDSI SO GPIC AMD GRMN AEE From last week's list the following were up at least 3%(rounded): MTRX +14% RSI(14) moves upward through 30 CAB PROX OMNI From last week's list the following were up at least 3%(rounded): RITA +13% IRIX +3% RSI(14) moved upward through 50 ASCL TNH SWC SIL SERO BVN CEF CEGE CHR LMRA HL CRY IAG LYG MUSA OCLR RX GLNG NVAX RECM From last week's list the following were up at least 3%(rounded): STEL +10% MUR +6% RSI(14) moved upward through 50 AND and MACD crossover GLNG NVAX TNH RECM From last week's list the following were up at least 3%(rounded): GASE +18% BEXP +7% NFX +6% GAXI +6% Friday's new highs, closed up on at least 2x ADV NPSN UTHR CAVB TONS RES SHR GPIC DCAI ADBL STAN VCO ANGO CSLR EP RESC MSB SMMX TELN VDSI TIV AFAM WEB CAP CARN DXT EWP FFEX CGA BUTL DDD EPAY SMXC AATK MDKI TTPA MCBK IHI HSR ASY FONR Sectors/Groups Top Sectors on Friday Mining, Steel, Pipelines Worst Sectors on Friday Airlines, Semiconductors, Diversified Technology Top Groups on Friday Metal Mining, Oil and Gas-Integrated, Communications Worst Groups on Friday Semiconductors, Computer Hardware, Real Estate Operations Top Indices on Friday DJ-Steel, DJ-Coal, DJ-Aluminum Worst Indices on Friday DJ-Airlines, DJ-Toys, AMEX Computer Technology Top DJ Indices for the week Mining +12.5%, Pipelines +10.2%, Coal +9.2% Worst DJ Indices for the week Semiconductors -1.7% Industrial Diversified -1.0% Fixed line Communications -.8% Note: I only check the Major DJ Indices. After Hours I'm going to delete this section unless I find something of particular note. There is usually very light activity on Friday. Site Watch We have arranged with the owner of http://GabrielsMoneyPage.com to offer you a "FREE" 2 week trial to this excellent site. If you are looking for stocks setting up for potential breakouts, you'll find this site a terrific value. To take advantage of this generous offer, simply email support@gabrielsmoneypage.com Request the 2 week FREE trial. You MUST mention that you saw this offer at Mr. Breakout. Free trial offer is valid through December 4, 2004. Are you interested in IPO's??? Here is a helpful site that let's you know when the "Quiet" period ends. For example, a popular IPO, INCX, just had their Quiet period end on 11/27. It will be interesting to see if any analysts pick it up this week. http://www.ipohome.com/marketwatch/quiet.asp In case you are not familiar with what the Quiet period is, take a look at this site http://www.bowne.com/newsletters/newsletter.asp?storyID=634 Would you like to know which companies are awarded defense contracts? The Department of Defense issues a daily listing at 5:00pm Eastern time at this site http://www.dod.mil/contracts Are you paid what you are worth? Maybe you are paid more? Check out the salary range for your type of job at http://salary.com Do you like Free Stuff??? You'll spend the rest of your life at this site http://x.butta.net/alex/my-free.htm And don't forget to check out the new listings at FinancialLinksOnline.com This 'N That ***This week's Earnings Calendar http://www.rightline.net/calendar/index.html *** Weaker-than-expected holiday shopping forced Wal-Mart Stores Inc. on Saturday to cut its projected sales increase for November by more than half, an ominous announcement for retailers as their busiest time of year begins. ***The Dow Jones Coal Index is +65% this year. Along with other materials; e.g. Steel, the Industrial Revolution continues to shape up in emerging economies...These industries might be boring, but they have certainly proved profitable http://trimurl.com/OG *** New Chinese IPO...Online gaming company The9 Limited http://money.cnn.com/2004/11/27/markets/ipo/gaming_ipo.reut/index.htm *** Foreigners dump U.S. stocks http://www.azcentral.com/business/articles/1128globalinvest28.html ***Do have kids that may be ready for college soon? Maybe they qualify for one of these scholarships? http://biz.yahoo.com//brn/041122/14325_1.html That's it for now...Good Luck to all this week. Best...Doug (IIC) |
| Los Angeles | CA | 90034 |