SHREVEPORT, La., Oct. 21, 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 Merck & Co Inc, Time Warner Inc, J P Morgan Chase & Co, Atmel Corporation
STOCKPICKREPORT RATINGS:
Merck & Co Inc (NYSE:MRK) - STRONG BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=MRK
Time Warner Inc (NYSE:TWX) - SELL http://www.stock-letter-daily.com/rating.asp?format=single&ticker=TWX
J P Morgan Chase & Co (NYSE:JPM) - SELL http://www.stock-letter-daily.com/rating.asp?format=single&ticker=JPM
Atmel Corporation (NASDAQ:ATML) - WEAK SELL http://www.stock-letter-daily.com/rating.asp?format=single&ticker=ATML
STOCK COMMENTARY:
Thursday, October 21, 2004
StockPickReport Commentary
S&P Flirts With Disaster
Wednesday, the S&P moved down sharply below the "magic" 1100 mark. The close above 1100 again was the only "saving grace" we saw for the S&P today. Remember, a close below 1100 will spell trouble. Watch the S&P! Good Technicals?
Okay, now you know we've are SERIOUS about 1100 on the S&P, right. Well, there are some interesting technical indications to consider for the next few trading sessions. First, Stochastics indicates a short pop higher. RSI indicates potentially the same thing. MACD lags a bit, but still looks more positive than negative at the moment.
The Whole Story
We believe that a continued close for the S&P over 1100 is CRITICAL. Of that, we do not waver. If you own stocks and the S&P closes below 1100, you might consider lightening some positions to conserve capital. However, there may be a bit of an upswing over the next few sessions in.
Whatever happens, we do not believe this is a time to "get cute". We think this is a time to PICK YOUR SPOTS and WATCH YOUR STOPS.
As always, we are hopeful, but we are CAUTIOUSLY optimistic.
Questions!
We have received a TON of awesome questions since Monday. We will address them all in tomorrow's commentary. If you have any questions you'd like us to answer, please email don@strikefriday.com!
See you tomorrow...
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:
Merck & Co Inc (NYSE:MRK) - STRONG BUY
http://www.stockpickreport.com/rating.php?sym=MRK
Time Warner Inc (NYSE:TWX) - SELL
http://www.stockpickreport.com/rating.php?sym=TWX
J P Morgan Chase & Co (NYSE:JPM) - SELL
http://www.stockpickreport.com/rating.php?sym=JPM
Atmel Corporation (NASDAQ:ATML) - WEAK SELL