SHREVEPORT, La., Oct. 5, 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 Intel, Texas Instruments Inc., Broadcom Corporation and Solectron Corporation.
STOCKPICKREPORT RATINGS: Intel (Nasdaq:INTC) -- BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=INTC Texas Instruments Inc (NYSE:TXN) -- BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=TXN Broadcom Corporation (Nasdaq:BRCM) -- BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=BRCM Solectron Corporation (NYSE:SLR) -- BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=SLR
STOCK COMMENTARY:
Monday's close for the S&P at 1135 was important. The close today above 1130 (again) solidified the break above a support trendline in place since January. This is a very positive development. If for no other reason, a psychological barrier is breeched for the broad markets.
Now, you know from our commentary in September we were "bearish" and needed to see confirmation by certain key technical indicators before we were ready to become "bullish". We wanted to see Stochastics, RSI, and MACD, all "line up" -- that would indicate more upside potential. (For more on MACD, Stochastics, and RSI, please visit your StockPickReport commentary archives in your member's only site).
As of the close today, we see that MACD, RSI, and Stochastics are all pointing to more moves to the upside. The price of oil dropping is also another reason to like the market short-term. There seems to be a more "upbeat" tone to the traders we talk with, and that is also a good sign.
Remember that if the markets turn south though, you MUST employ some stop/losses. Our stop/losses would be triggered at 1100 on the S&P. A break below that mark would be "bad news".
"All in all", quite a nice turnaround for the market, though. We remain, as always, "cautiously optimistic".
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Intel (Nasdaq:INTC) -- BUY http://www.stockpickreport.com/rating.php?sym=INTC Texas Instruments Inc (NYSE:TXN) -- BUY http://www.stockpickreport.com/rating.php?sym=TXN Broadcom Corporation (Nasdaq:BRCM) -- BUY http://www.stockpickreport.com/rating.php?sym=BRCM Solectron Corporation (NYSE:SLR) -- BUY http://www.stockpickreport.com/rating.php?sym=SLR