SHREVEPORT, La., Dec. 9, 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 Conexant Systems Inc., QUALCOMM Incorporated, Atmel Corporation, Agere Systems.
STOCKPICKREPORT RATINGS:
Conexant Systems Inc. (Nasdaq:CNXT) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=CNXT
QUALCOMM Incorporated (Nasdaq:QCOM) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=QCOM
Atmel Corporation (Nasdaq:ATML) -- SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=ATML
Agere Systems (AMEX:AGRA) -- BUY
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=AGRA
STOCK COMMENTARY:
Thursday, December 9, 2004
StockPickReport Commentary
Oil, Gold, and the U.S. Dollar
Today there was an interesting confluence of events. Gold dropped. The dollar rose. Oil prices moved up. The markets moved higher, too.
There's something fishy about the way these things took place.
The move up for the dollar versus the euro, yen, Canadian dollar (etc.) was significant on a one-day basis, but was not significant given the last year of damage done to the dollar. The point being, that gold took over a 2% hit, and that's too much.
Keep in mind, also, that oil prices climbed during the day. That should have weighed a bit on the market, but it didn't.
We are not convinced the market is ready to bounce higher. The overreaction with gold dropping, added to the increase in oil prices, are two reasons we believe there is still downside ahead.
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:
Conexant Systems Inc. (Nasdaq:CNXT) -- SELL http://www.stockpickreport.com/rating.php?sym=CNXT QUALCOMM Incorporated (Nasdaq:QCOM) -- SELL http://www.stockpickreport.com/rating.php?sym=QCOM Atmel Corporation (Nasdaq:ATML) -- SELL http://www.stockpickreport.com/rating.php?sym=ATML Agere Systems (AMEX:AGRA) -- BUY http://www.stockpickreport.com/rating.php?sym=AGRA