SHREVEPORT, La., Nov. 1, 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 Sirius Satellite, Isonics Corporation, Amazon.com.
STOCKPICKREPORT RATINGS:
Sirius Satellite (Nasdaq:SIRI) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=SIRI
Isonics Corporation (Nasdaq:ISON) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=ISON
Amazon.com (Nasdaq:AMZN) -- WEAK SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=AMZN
STOCK COMMENTARY:
Monday, November 1, 2004
StockPickReport Commentary
Breakout Plus Stable Base Equals Bull Run
Last week the market shot straight up. That came after the market shot straight down the prior week. This sort of "up and down" can frustrate even the best traders.
Yet, last week's "up" move brought the S&P to the cusp of an important trendline. The downtrend started with the highs of April's end looks breakable - again. You may recall that we felt 1130 on the S&P was key. We said over and over that a move above that would be significant. Soon after our comments, the S&P broke over 1130. Friday, the S&P closed over 1130 again. However, the bar has been lifted. The new standard is more like 1140.
What we need to see for a prolonged move is a breakout above this downtrend since March. But, not only that, we need to see some kind of "stability". The market just has no clear base from which to make a serious run.
Until we see a base form, we will continue to be conservative with our stop/loss advice. This means that we hope you will use stop/losses with discipline.
Oh, and by the way, there is an election on Tuesday. Maybe you've seen something about it on the news? For those of you in the United States, we have this unsolicited advice: Regardless of who you want to win, we hope you'll think about the issues. This is probably the most important election in a generation...
...and, the ballot you cast will impact the next generation.
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:
Sirius Satellite (Nasdaq:SIRI) -- SELL http://www.stockpickreport.com/rating.php?sym=SIRI Isonics Corporation (Nasdaq:ISON) -- SELL http://www.stockpickreport.com/rating.php?sym=ISON Amazon.com (Nasdaq:AMZN) -- WEAK SELL http://www.stockpickreport.com/rating.php?sym=AMZN