SHREVEPORT, La., Jan. 10, 2005 (PRIMEZONE) -- StockPickReport.Com (http://www.stockpickreport.com - the web's only non-mainstream stock rating service), rates Intel, Nextel Communications Inc., Bank Of America Corp., Conexant Systems Inc.
STOCKPICKREPORT RATINGS:
Intel (Nasdaq:INTC) - SELL
http://www.stockpickreport.com/abrating.php?sym=INTC
Nextel Communications Inc. (Nasdaq:NXTL) - SELL
http://www.stockpickreport.com/abrating.php?sym=NXTL
Bank Of America Corp. (NYSE:BAC) - SELL
http://www.stockpickreport.com/abrating.php?sym=BAC
Conexant Systems Inc. (Nasdaq:CNXT) - WEAK SELL
http://www.stockpickreport.com/abrating.php?sym=CNXT
STOCK COMMENTARY Monday, January 10, 2005 StockPickReport Commentary What's Next?
Last Thursday night we called the move up a, "Sucker Rally". Friday's move down proved us right. But, what's next?
If you look at MACD, Stochastics, and RSI, you'll see some more downside ahead. It is important to note that the S&P broke down below the trendline formed since last August, and now must climb over that AND see more "oversold" technicals before we will be ready to discuss the "end" of the downturn.
However, we do not believe, at this point, the S&P will drop to the bottom of the channel (the red line). We think it is more likely that a move to 1150 is probable. As Art Cashin might say (see the piece below), "We're gonna a watch it" for you.
It is because of our belief that the downside is limited that we have so many "Strong Buy" stocks on our list right now. In fact, out of 16 total stocks on either our "Strong Buy" or "Strong Sell" lists, 15 are "Strong Buy".
This is a real shift in sentiment for the stocks we follow. Seems we are in the middle of a downturn now, not the beginning.
In other news, we see a trend that's worth a mention: Hybrid vehicles and alternative energy.
At a recent auto show, Ford Motor Company's Hybrid SUV won top honors. Couple that with last year's Motor Trend "Car of the Year", the Toyota Prius, and you've got two compelling reasons to look at auto manufacturers for long-term investment opportunity. One web site with news on all sorts of "Alternative Energy" news we follow is:
http://www.humanpowergenerator.com
The "alternative energy" trend will continue long after "hybrid" cars are the standard for transportation.
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:
Intel (Nasdaq:INTC) - SELL
http://www.bigtimenews.com/sp500/INTC-Stock-Quotes-News-and-Research.php
Nextel Communications Inc (Nasdaq:NXTL) - SELL
http://www.bigtimenews.com/sp500/NXTL-Stock-Quotes-News-and-Research.php
Bank Of America Corp (NYSE:BAC) - SELL
http://www.bigtimenews.com/sp500/BAC-Stock-Quotes-News-and-Research.php
Conexant Systems Inc (Nasdaq:CNXT) - WEAK SELL