SHREVEPORT, La., Oct. 25, 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 SPDR Trust, Amazon.com, Bank Of America Corp, Tyco International Ltd /BER/
STOCKPICKREPORT RATINGS:
SPDR Trust (AMEX:SPY) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=SPY
Amazon.com (NASDAQ:AMZN) -- WEAK SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=AMZN
Bank Of America Corp (NYSE:BAC) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=BAC
Tyco International Ltd /BER/ (NYSE:TYC) -- WEAK SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=TYC
STOCK COMMENTARY:
Monday, October 25, 2004
StockPickReport Commentary
The Breaking of the S&P
This is one of those days where there's not much to say. You know we've been saying that the S&P must close over 1100. You've seen the charts and you've read our commentary.
Friday, the S&P just could not hold up. The S&P has another number ahead to watch for: The lows of last Wednesday. Last Wednesday, the S&P hit 1094.25 intraday. At this point, that number is kind of a "last chance" before a free fall to possibly 1060. In other words, the S&P must close above 1094.25 or we think the downside could be more severe.
What this means, in our opinion, for your stocks is this: You need to have the trigger on the "stop/loss" button. You need to be aware that our original hypothesis (that the S&P needs to close above 1100 to keep the market from dropping further) is already being tested. We can't be any more emphatic about this issue!
The good news (and there is good news!) is that as the market weakens (and as you are using stop/losses, we hope!) you are getting more opportunities at stocks with upside. Some big stocks are about to "bottom". We will let you know the moment we see the turn coming -- just as we let you know when we thought the drop was ahead.
Have a good day. See you Monday evening
For More Commentary Go Here: http://www.stock-letter-daily.com/index.htm
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If the links to our ratings above do not work, please use these:
SPDR Trust (AMEX:SPY) -- SELL http://www.stockpickreport.com/rating.php?sym=SPY Amazon.com (NASDAQ:AMZN) -- WEAK SELL http://www.stockpickreport.com/rating.php?sym=AMZN Bank Of America Corp (NYSE:BAC) -- SELL http://www.stockpickreport.com/rating.php?sym=BAC Tyco International Ltd /BER/ (NYSE:TYC) -- WEAK SELL http://www.stockpickreport.com/rating.php?sym=TYC