StockPickReport: 'S&P 500 Breakdown Ahead?'


SHREVEPORT, La., Oct. 6, 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 Sun Microsystems, Juniper Networks, AT&T Wireless and InterActiveCorp.


 STOCKPICKREPORT RATINGS:

 Sun Microsystems (Nasdaq:SUNW) -- BUY
 http://www.stock-letter-daily.com/rating.asp?format=single&ticker=SUNW

 Juniper Networks (Nasdaq:JNPR) -- BUY
 http://www.stock-letter-daily.com/rating.asp?format=single&ticker=JNPR

 AT&T Wireless (NYSE:AWE) -- STRONG SELL
 http://www.stock-letter-daily.com/rating.asp?format=single&ticker=AWE

 InterActiveCorp (Nasdaq:IACI) -- BUY
 http://www.stock-letter-daily.com/rating.asp?format=single&ticker=IACI

STOCK COMMENTARY:

Wednesday, October 6, 2004StockPickReport Commentary

"More Discussion on the S&P -- Why it Matters!"

Headlines read today, "Oil Prices Spike" (or some variation on that theme). Oil prices climbed over $50 and by over 2%. Now, that's a serious move for oil prices in one day. Stocks reacted in an indecisive manner -- not really up, not really down.

The single best gauge (we believe) of what the market "feels" is the S&P 500. Since the S&P (Standard and Poor's) 500 is a collection of basically, the most widely held stocks on the US Exchanges (Nasdaq, Amex, NYSE), you really can see what the market "as a whole" did, does, and "will do" in quick glance at a chart of the S&P.

You can see that the S&P made a very strong move over the last month or so. But what is significant to us, is also that the move began with the S&P below the bottom range of the recent downtrend since January.

Anytime a stock (or index) breaks down through a channel and then breaks back up over that mark a "significant" or "important" move has occurred. The psychology of the move is one of "hey, that wasn't so bad," or, "we've seen the worst, now the market will move up."

So, with that in mind, let's look at the reverse: What if a stock (or index) breaks UP over a recent trading channel, and then breaks back down again?

You got it. A break back below the trading channels TOP side and could be seen as "the market couldn't keep going," or, "we've seen the best, now the market will move back down."

Now, it is VITAL that in times like these -- where channels are broken -- that investors keep their fingers on the "trigger", so to speak. Watch your stop/losses carefully. Don't get caught in a break down below the channel.

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.

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


 Sun Microsystems (Nasdaq:SUNW) -- BUY
 http://www.stockpickreport.com/rating.php?sym=SUNW

 Juniper Networks (Nasdaq:JNPR) -- BUY
 http://www.stockpickreport.com/rating.php?sym=JNPR

 AT&T Wireless (NYSE:AWE) -- STRONG SELL
 http://www.stockpickreport.com/rating.php?sym=AWE

 InterActiveCorp (Nasdaq:IACI) -- BUY
 http://www.stockpickreport.com/rating.php?sym=IACI


            

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