| Weekend Report |
| November 7, 2004 |
| Hi Everyone: Well, I'm pretty amazed that we have not seen a pullback yet. However, I fully expect one soon. In fact, I prefer that it happens sooner rather than later. IMO, it is not good to see so many up days in a row. I believe it would be healthy to see the Naz pullback to 1920-1935 and as long as we stay above 1900 I think we are OK. We have seen the SP 500 up for 9 days in a row now. During that time the index has risen 6.5% to a 2 year high. We've seen increases across the board on the major indices. This week the DJ Composite was 60 up and 5 down after 61 up and 4 down the week prior. However, on Friday it was 37 up 28 down as Utilities were hit hard. Overall the DJ Composite was +2.9% for the week The DJ Transportation Index hit its highest level since 1999 and the NYSE Composite hit a 3 year high. The SP Small Cap 600 and SP Mid Cap 400 hit ALL TIME highs this past week too. Be careful this week. Many indicators I look at indicate we are either overbought or fast approaching O/B territory. The 1st level of Naz resistance is in the 2048-2058 range. I will be very surprised to see the Naz over 2058 before a major pullback. Of course, as those of you who know me from groups and chats, I was surprised that we went over 2025. NO NEW FEATURES THIS WEEK at http://MrBreakout.com but make sure you check out the IIC 100 and Undiscovered Gems lists which have been updated. 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 AVO...Saucer w/ Handle(low) SMRT...No handle yet LEND...Long handle JJZ MYGN Still worth watching from last week: SYNM PAAS DPTR BDX STJ FAC GDT VRX CPE MSSN From last week's list the following broke out: DGX +4% TOL +5% ...FDS went past the pivot point and was up 5% but the volume was not there. MACD Crossovers AGM APPD AUO BLS CHU DLX PHCC PHRM RAS SCS FBN CNET SIL JCP EK AHS TTI TEX CCRN AEC UIC BSTE ECLG NNDS APD HAIN HILL LPL MOBE NYMX SYMM TSS OSI WSO SWB WDR MXO RDA USIH UWN TNL SSCC PCU WDC UHOC From last week's list the following were up at least 3%: PSYS +19% KOSP +19% LEXG +14% CHUX +8% HPQ +6% XLB +5% PVN +3% ACAT +5% ETN 3% AMMD +5% ARRO +5% LXK +3% HRB +4% SHW +5% WTR +5% FMER +4% Flat Bases/Low Volume NAVR OCLR ECOL MERX GNTA From last week's list: ASX +12% RUBO +11% DHB +11% CMTL +9% RNWK +9% 50 dma moves upward over 200 dma ADSX HL IBN KTC IMAX NETE PLCM CBRL CTXS FCFS BVN CA NAK CAAS GTOP NOOF TPX SWH PNGSRZ XLF SGTL SCHN SONE RDN PSUN RJF From last week's list: CECI +22% LNOP +7% JNPR +5% Generally bullish short term technicals ULCM MHP SSI IM KMX From last week's list: CACS +7% INTL +6% RSI(14) moves upward over 30 TYL LF AEGN From last week's list: This is rather interesting...all from last week's list were up at least 3% except ZILG -5.9% and GMAI +2.8% IES +20% BEP +5% ALGN +6% BDY +4% TIN +3% CSL +4% JBSS +4% RSI(14) moved upward over 50 ABGX HOM CNLG OPSW LTM FMC CKC ACF LAVA DNB From last week's list: AACE +7% AMSC +6% ABY +5% C +4% RSI(14) moved upward over 50 AND an MACD crossover MOBE SWB From last week's list: KOSP +19% LEXG +14% HRB +4% LXK +3% Friday's new highs, closed up on at least 2x ADV: KMRT CTRP ELOS PIXR STU WCG TSMA ANZ ALG BRN ELBO GPIC ASR NTMD BEIQ SKO RRD AYE PSYS AFCE CLDN ASCA BBNK HDB IPS LDG RTH KEYW VLTR AIZ GME MFRI NTRT MPX NMGB VLG MAR SNSA HBC RJF RNHDA SSI NC SOR TROW IJT DGII INCX BCA MOH TDSC MTW LION WYNN RSP CLCT ISLE PFBI DSV EEM BEBE RGA JKK MOND SJR DECA MSM ANST BCO MTD TOY ASAA GFF IVV SFF TEF CBE MRBK PR DRS JKH IYC IYJ ANSS MCIP ISI IAAI BUTL CT PDLA VCR AGY TRY KMT OPMR EZU IEV BL ABMD MSC JKD WC CLBK JOB JQH OEF JKG LFL GET JKJ MBTF CHDN SAFT VV NY VB IXP USG SMSI TRYB BORD VO LI GKSRA PNTE LKI IED EE RIGL XLB EWC IYY PWC IWW VDSI EWI ILF EWA NPO VTIV EWK MPE EDO RST BCL UPFC CCOW MKTW Sectors/Groups Top Sectors on Friday Tires, Precious Metals, Biotechnology Worst Sectors on Friday Internet Commerce, Real Estate, Steel Top Groups on Friday Biotechnology, Retail-Dept./Discount, Semiconductors Worst Groups on Friday Real Estate Operations, Computer Services, Electric Utilities Top Indices on Friday DJ-Tires, Nasdaq-Biotechnology, DJ-Biotechnology Worst Indices on Friday DJ-Internet Commerce, DJ-Coal, DJ-Steel Top DJ Indices for the week Tires +11.83%, Tobacco +10.42%, Mining +9.05% Worst DJ Indices for the week Pharmaceuticals -8.3%, Oil Drilling Equipment -6.6%, Internet Services -4.3% Note: I only check the Major DJ Indices. After Hours Advancing volume was lower than Declining volume everyday this week...so it just goes to show that after hours action is not always a reliable indicator. That may be because only 1/3 to 1/2 of issues even trade after hours. OPLK and NTMD were up nicely A/H on Friday. Site Watch Looking for savings on the Wall Street Journal Print and/or Online Editions? This link offers 8 weeks FREE on the print and/or 2 weeks FREE on the online edition. Subscribe today to Print or Online and receive a special free week offer!!! ***SPECIAL OFFER!!!*** ...Are you interested in finding stocks that are setting up for potential Breakouts? Our friends at BreakoutInvestor.com have just what you are looking for. I check their site on a daily basis and have found it a real timesaver in my research. Again this weekend, the owner of BreakoutInvestor has been gracious enough to provide our readers with the link to Monday's List at no charge. Please take a look...You will find some stocks well worth adding to your watchlist http://breakoutinvestor.com/Monday8 Looking for a site that lists Analyst Actions?...Well, I will let you in on two FREE one's: http://www.newratings.com/analyst_news/dat.asp?sort_by=&market=us http://www.briefing.com/Silver/Calendars/UpgradesDowngrades.htm Here is a nifty one to see After Hours action in real time (well, almost r/t). Click the headings at the top to re-sort. Click refresh to update. http://cbs.marketwatch.com/tools/stockresearch/screener/afterhours.asp?siteid=mktw&count=25&skip=0&sort=53&sortd=0 And make sure you check in at FinancialLinksOnline.com to see what's new....We now have over 350 listings. Earnings Calendar for this week http://www.rightline.net/calendar/index.html This 'N That The Independent Auditors of the following companies have expressed concern as to the ongoing operations of the following companies in the last 30 days: CLIK IWAV MSGI RCG LYNX POSO The following defense contracts were announced on Friday: Henry Schein Inc. (HSIC) received a $24 million fixed price with economic price adjustment-type contract for various general dental supplies for the Army, Navy, Air Force, Marine Corps and federal civilian agencies. Performance will be completed on Nov. 8, 2005. L-3 Communications Holdings Inc. (LLL)/Vertex Aerospace, Oklahoma City, Okla., received a $10.6 million indefinite delivery/indefinite quantity contract to provide temporary personnel for depot level maintenance. This work will be complete by September 2005. The following raised guidance on Friday: CRYP DRS GT BZH MAC That's it for this week. Remember that Thursday is Veteran's Day. The markets are open but most Government offices are closed. Don't forget!!! If you would like to receive periodic email updates...no more than twice a month...send me your address. All email addy's will be held in strict confidence. Or feel free to let me know what kind of scans you'd like to see. Best To All...Doug(IIC) PS: Sometimes you may notice that I do a later update...That is only to correct typos...I do not change the body of the info even if I find out that I may have been erroneous in my thinking. |
| Los Angeles | CA | 90034 |