SHREVEPORT, La., Jan. 7, 2005 (PRIMEZONE) -- StockPickReport.Com (http://www.stockpickreport.com -- the web's only non-mainstream stock rating service), rates Alcoa Inc, Durban Roodepoort Deep Ltd, Tenet Healthcare Corp, LSI Logic Corporation:
STOCKPICKREPORT RATINGS:
Alcoa Inc (NYSE:AA) -- SELL
http://www.stockpickreport.com/abrating.php?sym=AA
Durban Roodepoort Deep Ltd (Nasdaq:DROOY) -- WEAK SELL
http://www.stockpickreport.com/abrating.php?sym=DROOY
Tenet Healthcare Corp (NYSE:THC) -- BUY
http://www.stockpickreport.com/abrating.php?sym=THC
LSI Logic Corporation (NYSE:LSI) -- SELL
http://www.stockpickreport.com/abrating.php?sym=LSI
STOCK COMMENTARY:
Friday, January 7, 2005
StockPickReport Commentary
Sucker Rally
Wednesday night we said, "there could be a 'surprise' or 'relief' rally, but, we think the odds of a move to 1150 are better than 1250, at this point."
Okay, we got the "relief" rally. We got the "surprise". We got the "technical bounce". But, we hope you were not buying at the highs.
I mean, you WEREN'T, right?
Check this out: The unemployment "surprise" was MORE JOBS LOST last month than expected. How bad were the numbers? WORST numbers for the past three years.
And, how about the oil price spike up? Wasn't it just last week that oil was plummeting?
I spoke with a trader today who I respect. I asked him, "Why do you think the market goes up on a day like this? What would cause someone to buy stocks on a day when oil prices SOAR and job numbers plummet?"
His answer was, basically, "The market has nothing to do with employment, oil prices, or inflation. It's all about 'traders' and 'sentiment'."
I gotta tell you, I disagree with that trader. Regardless of what happens tomorrow, the market has a ton of bricks on its shoulders right now. That ton of bricks will have to either be unloaded or the market will have to drop to its knees.
We hope for an unloading, but we REALLY hope you will PLAN for a drop. If you have not sold calls on stocks you are long right now, why not? If you have not raised your stop/losses YET, why not? If you have not sold a put or two yet, why not?
So, we think Thursday represented more of a "sucker rally" than anything else. We see that oil prices are down overseas after hours, so we suppose that may cause a rise tomorrow. But, we ain't buyin' it.
We recommended a new stock today for the Penny Stock service and the Daytrade service, but that pick came with a RAZOR SHARP stop/loss.
If you have questions or comments, please email don@stockpickreport.com.
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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:
Alcoa Inc (NYSE:AA) -- SELL
http://www.bigtimenews.com/sp500/AA-Stock-Quotes-News-and-Research.php
Durban Roodepoort Deep Ltd (Nasdaq:DROOY) -- WEAK SELL
http://www.stockpickreport.com/abrating.php?sym=DROOY
Tenet Healthcare Corp (NYSE:THC) -- BUY
http://www.bigtimenews.com/sp500/THC-Stock-Quotes-News-and-Research.php
LSI Logic Corporation (NYSE:LSI) -- SELL
http://www.bigtimenews.com/sp500/LSI-Stock-Quotes-News-and-Research.php