SHREVEPORT, La., Oct. 18, 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 SanDisk Corp, Broadcom Corporation, Micron Technology Inc, AT&T
STOCKPICKREPORT RATINGS:
SanDisk Corp (NASDAQ:SNDK) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=SNDK
Broadcom Corporation (NASDAQ:BRCM) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=BRCM
Micron Technology Inc (NYSE:MU) -- WEAK SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=MU
AT&T (NYSE:T) -- WEAK BUY
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=T
STOCK COMMENTARY:
Monday, October 18, 2004
StockPickReport Commentary
"RYAAY Soars, and Other News"
Okay, Friday morning we said, "RYAAY is the type of stock we alluded to Wednesday night. The stock has been hammered, but the upside (based on Stochastics, RSI, and MACD), looks promising."
Yeah, we thought RYAAY was ready to move up, but the "market beating" upswing Friday was a nice way to close the week! Hey, congrats to you if you got a chance to ride RYAAY up.
Our thoughts this week are fixated on the price of oil. Oil is up overseas over the weekend. $55 per barrel. That is just unreal.
One trader told us Friday that, "...oil is up, but not really. In 1914 dollars, oil is still too cheap."
With all due respect to our trading friend, let me ask...
..."IS YOU FOR REAL?"
Oil may be low versus "1914 dollars" but it's HIGH versus "2004 dollars." And, that's the problem.
Across the world, we believe there is a shifting of a sort. Money, power, and economies are near an important juncture: There will be a day of reckoning for the high oil prices. Someone, somewhere, somehow, oil prices will need to be reflected in the economy. (We suspect you feel it where you are, at the very least, when you put gas in your car.)
The "reckoning" will come as a sharp and swift surprise to way, way too many folks, we suspect. You just cannot continue to experience the sector-crossing effects that high oil prices have (note the "present" tense) on our current (note the "present tense, again) economy.
It is our contention that oil prices may or may not have been "factored in" to the markets, but there will be a price ahead for the US (and world) economy if oil prices are not brought under control.
Okay, we'll get off the soap box. What about the market? Well, got a lot of news on the horizon - not the least of which is the US Presidential election. In fact, we've not see this sort of interest in a Presidential election since, well, since Reagan vs Carter. It's reported that there are hundreds (literally) of attorneys ready to bring lawsuits in key states if they don't like the outcome of the election.
And, folks, honestly -- it's not an issue of fairness. It's not that folks "can't get to the polls". It's not an issue of "hanging chads". No, it's just the way our society is: Litigious.
We think the market will probably trade flat or down until some of the issues are sorted out. That will offer traders entry opportunities. RSI, Stochastics, MACD, and "oil prices" (our new euphemism for "news") are pushing towards an oversold area.
Tomorrow, we'll look at Silver and Gold prices. A bit of speculation about the rising prices of precious metals, lately. You might want to pick up some Gold or Silver - so we hope you'll check out our report for tomorrow.
See you after the market closes!
P.S. (If you have any ideas on what you believe the effect of higher oil prices will be on the world economy, we'd love your input. Please email info@stockpickreport.com with your comments!)
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 proprietary 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:
SanDisk Corp (NASDAQ:SNDK) -- SELL http://www.stockpickreport.com/rating.php?sym=SNDK Broadcom Corporation (NASDAQ:BRCM) -- SELL http://www.stockpickreport.com/rating.php?sym=BRCM Micron Technology Inc (NYSE:MU) -- WEAK SELL http://www.stockpickreport.com/rating.php?sym=MU AT&T (NYSE:T) -- WEAK BUY http://www.stockpickreport.com/rating.php?sym=T