StockPickReport -- Downside Means Opportunity


SHREVEPORT, La., Sept. 23, 2004 (PRIMEZONE) -- Stock-Letter-Daily.Com (http://www.stock-letter-daily.com), an affiliate site of StockPickReport, the web's only non-mainstream stock rating service, rates Qualcomm, Sanmina, Home Depot, and Omnivision

STOCKPICKREPORT RATINGS:

QUALCOMM Incorporated (Nasdaq:QCOM) - STRONG SELL http://www.stock-letter-daily.com/rating.asp?format=single&ticker=QCOM

Sanmina-SCI Corporation (Nasdaq:SANM) - BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=SANM

Home Depot (NYSE:HD) - STRONG SELL http://www.stock-letter-daily.com/rating.asp?format=single&ticker=HD

OmniVision Technologies Inc (Nasdaq:OVTI) - BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=OVTI

STOCK COMMENTARY:

"Turn That Frown Upside Down!"

Couple days ago, the markets cheered as the "bulls" came "roaring back". As a StockPickReport member, you knew better! Hopefully, you took our advice and upped your stops on stocks you held, by the way. Today, there were frowns all over the world as (gasp!) oil prices rose again (really? no way!), and stocks plummeted.

Like we said, you knew better than to buy the "mainstream wallstreet" baloney. As you know, yesterday we reiterated the "bear case" with this point, "Our official position today is that although two key indicators moved out of 'clearly overbought' to 'slightly overbought', we still are not ready to declare a new 'bull market' is on the move. We need to see MACD reverse course, before a change of any sentiment. But, even then, we will still be, at best, 'cautiously optimistic'. Our advice: Watch stop/losses. If stocks move up, MOVE YOUR STOP/LOSSES, too. We think better prices could still be around the corner."

Yesterday (Wednesday), MACD did NOT change course. It rolled-over and now looks, well, REALLY ugly. Now, we have stochastics, RSI, and MACD (our three favorite technical indicators) pointing to more downside ahead.

When you have all three of these indicators pointing in such a strong, and unified direction, we think it's time to PRESERVE capital. That means it's time to adjust your stop/losses and don't try to get "cute".

"Hey, StockPickReport, you are wrong. The markets are about to just scream higher. No way I'm gonna sell anything," you say. Okay, fine. If the markets move up, it's (as they say), "all good." But, if the markets don't move up, uh, you know what that means.

Look, we've been saying now for a couple weeks that the market is overbought. We continue to hold that line. There will be better prices ahead. And, that is a GOOD thing for a patient investor.

So, please, "Turn that frown upside down!"

For More Commentary Go Here:

http://www.stock-letter-daily.com/index.htm

WHAT THESE RATINGS MEAN:

StockPickReport.Com ranks stocks with technical analysis. These ratings do not indicate a "long term" view. These ratings reflect an opinion for the short term. These ratings may change based on market conditions.

ABOUT STOCKPICKREPORT.COM:

StockPickReport.Com is a stock research firm. Their daily commentary is regular and distributed worldwide. They are Registered Investment Advisors. They do not accept third-party compensation to make stock suggestions.

THEIR DISCLAIMER:

"Our analysis is issued solely for informational purposes. We do not offer to sell or buy any stock. This report does not regard your specific investment objectives, financial situation or particular needs. Our information is based on sources we believe are reliable but are not guaranteed by us as being accurate. We do not purport to offer a complete statement or summary of the available data. Any opinions expressed herein are statements of our judgment as of the date of publication and are subject to change without notice. Reproduction without written permission is prohibited.

"Strike Friday, Inc., or its owners, or employees, may own short or long positions in stock, or options on stock.

"SPR does NOT receive compensation for stock suggestions to our members (other than regular member fees). We do not get paid cash, stock, property (etc) to "profile" a stock to our members. Our opinions are based on RESEARCH ALONE.

"SPR does NOT guarantee any stock will go up OR down. Information published by SPR or emailed to members is opinion, and opinion only. We believe our information is good, accurate, and helpful. Traders should (in our opinion) make "buy" or "sell" decisions based on variables including (but certainly not limited to!), experience, portfolio size, risk-tolerance, and current market conditions - none of which we can determine."

StockPickReport also offers a propietary stock-picking software suite. Interested investors should visit http://www.stock-letter-daily.com/software.htm for more details.

If the links to our ratings above do not work, please use these:

QUALCOMM Incorporated (Nasdaq:QCOM) - STRONG SELL http://www.stockpickreport.com/rating.php?sym=QCOM

Sanmina-SCI Corporation (Nasdaq:SANM) - BUY http://www.stockpickreport.com/rating.php?sym=SANM

Home Depot (NYSE:HD) - STRONG SELL http://www.stockpickreport.com/rating.php?sym=HD

OmniVision Technologies Inc (Nasdaq:OVTI) - BUY http://www.stockpickreport.com/rating.php?sym=OVTI



            

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