SHREVEPORT, La., Jan. 24, 2005 (PRIMEZONE) -- StockPickReport.Com (http://www.stockpickreport.com - the web's only non-mainstream stock rating service), rates Lucent, StemCells Inc, Bank Of America Corp, UnitedGlobalCom Inc.
STOCKPICKREPORT RATINGS:
Lucent (NYSE:LU) - BUY http://www.stockpickreport.com/abrating.php?sym=LU
StemCells Inc (NASDAQ:STEM) - BUY http://www.stockpickreport.com/abrating.php?sym=STEM
Bank Of America Corp (NYSE:BAC) - BUY http://www.stockpickreport.com/abrating.php?sym=BAC
UnitedGlobalCom Inc (NASDAQ:UCOMA) - BUY http://www.stockpickreport.com/abrating.php?sym=UCOMA
STOCK COMMENTARY:
Monday, January 24, 2005
StockPickReport Commentary
When "mainstream wallstreet" was talking about "plummeting" oil prices last month, and the "rising" dollar value, you might of gotten a little tired of our mockery of "commentary" delivered by the mainstream media.
Well, it seems that Oil prices really didn't "plummet". It seems like the US dollar really isn't that strong. It seems like the military action in Iraq really IS a drain on the US economy.
Etc...
On the evening of January 2, we gave 11 reasons we believed the market was ready to drop. The next day was the TOP for the market. It's been down ever since.
If you're looking for GOOD news, it's this: Every day the market drops makes a better BUYING opportunity for you. Instead of buying while the market goes UP, why not look at stocks ON THE WAY DOWN???
It goes against what "mainstream wallstreet" hopes you'll do, but we think you should NOT worry and NOT be afraid and NOT look at the recent downturn as "bad", rather, we hope you'll see it as a chance to buy stocks that were bloated and overbought last month.
1150 On The Way
Our opinion of the S&P 500 hitting 1150 has not changed. In fact, we see more evidence after the last few trading days of that event. What the S&P does at THAT point will be, absolutely, CRITICAL.
Also, please note that Stochastics and RSI have both weakened. They are now both turning south again. The Stochastics crossover and RSI both suggest further weakening for the S&P 500.
The trend since January for the S&P is down. No kidding. However, a closer inspection of the market gives up some CLEAR numbers to trade around.
The importance of the channel formed since January is that a break OUT of it to the upside will be significant, and a break BELOW it will, as well. Before you say, "Well, duh", consider this: The psychological impact on the markets should be intense either way. What are you doing with your portfolio to prepare for either occurrence?
Our opinion of the market now remains - as we've written - the same: We think the S&P will hit 1150. We think it's a better time to buy now than last month.
If you have questions or comments, please email don@stockpickreport.com.
For More Commentary Go Here: http://www.stockpickreport.com
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:
Lucent (NYSE:LU) - BUY http://www.bigtimenews.com/sp500/LU-Stock-Quotes-News-and-Research.php
StemCells Inc (NASDAQ:STEM) - BUY http://www.stockpickreport.com/abrating.php?sym=STEM
Bank Of America Corp (NYSE:BAC) - BUY http://www.bigtimenews.com/sp500/BAC-Stock-Quotes-News-and-Research.php
UnitedGlobalCom Inc (NASDAQ:UCOMA) - BUY http://www.stockpickreport.com/abrating.php?sym=UCOMA
Strike Friday is a registered Investment Advisor with the U.S. Securities Exchange Commission, IARD number 119079.