SHREVEPORT, La., Oct. 28, 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 Texas Instruments Inc, UnumProvident Corporation, Electronic Arts Inc, Applied Micro Circuits Corp
STOCKPICKREPORT RATINGS:
Texas Instruments Inc (NYSE:TXN) - BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker =TXN UnumProvident Corporation (NYSE:UNM) - BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker =UNM Electronic Arts Inc (NASDAQ:ERTS) - BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker =ERTS Applied Micro Circuits Corp (NASDAQ:AMCC) - SELL http://www.stock-letter-daily.com/rating.asp?format=single&ticker =AMCC
STOCK COMMENTARY:
Thursday, October 28, 2004
StockPickReport Commentary
Qwest and Something We Should Fix
First, one more note on $100 oil. We believe there are ways we can all live our lives to decrease the impact of high energy cost. We will report on those things at a later date. However, one StockPickReport member offers this advice:
"Regarding $100/bbl oil, I suggest you read 'The End of Oil' by Paul Roberts. This book is a superb and well researched analysis of the challenges we face with peaking of oil and the resulting shift away from a hydrocarbon based economy and culture. There is an excellent dvd entitled 'The End of Suburbia' that is a must see for anyone interested (in) the soon to arrive energy crisis."
Regarding the market, the sharp move higher since Monday looks good, right? Well, yes and no. Any time you see a "V bottom" like we've seen over the last 13 sessions, the danger is very real for a pullback to BELOW the "V" bottom. In this case the number to watch out for is 1094 on the S&P. A close below will be tough for the market to swallow.
You may recall that we wanted to see the S&P 500 break above 1130 last month. That would signal to us, a break with the downtrend since January. We got that. We then got a pull back. But, that pullback has bounced from recent lows.
So, what should we make of these events?
In your opinion, the recent lows of 1090-1100 are important, and the recent highs of 1130 are important. A break for the S&P 500 above 1130 or below 1090 would signal a more defined move in the direction of the break.
See you tomorrow!
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If the links to our ratings above do not work, please use these:
Texas Instruments Inc (NYSE:TXN) - BUY http://www.stockpickreport.com/rating.php?sym=TXN UnumProvident Corporation (NYSE:UNM) - BUY http://www.stockpickreport.com/rating.php?sym=UNM Electronic Arts Inc (NASDAQ:ERTS) - BUY http://www.stockpickreport.com/rating.php?sym=ERTS Applied Micro Circuits Corp (NASDAQ:AMCC) - SELL http://www.stockpickreport.com/rating.php?sym=AMCC