SHREVEPORT, La., Aug. 8, 2005 (PRIMEZONE) -- StockPickReport.Com (IARD #119079, http://www.stockpickreport.com -- the web's only non-mainstream stock rating service), rates Nasdaq 100, General Electric, LSI Logic Corporation, MBNA Corporation
STOCKPICKREPORT RATINGS:
Nasdaq 100 (AMEX:QQQQ) -- SELL http://www.stockpickreport.com/abrating.php?sym=QQQQ
General Electric (NYSE:GE) -- WEAK SELL http://www.stockpickreport.com/abrating.php?sym=GE
LSI Logic Corporation (NYSE:LSI) -- SELL http://www.stockpickreport.com/abrating.php?sym=LSI
MBNA Corporation (NYSE:KRB) -- WEAK SELL http://www.stockpickreport.com/abrating.php?sym=KRB
StockPickReport Commentary -- August 8, 2005
August and September are typically great months to make money shorting the market.
Right now we don't see a big upswing. After all, earnings are almost over and 70 percent of companies beat their earnings expectations. Now, what's going to propel stocks higher? It'll be three months until earnings again, so we've got the summer and back to school doldrums coming up.
Right now the average stock is 18 percent overbought. At the beginning of last week it was 36 percent overbought. A few months ago when the market was falling, we said to basically stay out until we were 40 percent oversold. We reached about 38 percent, if my memory serves me correctly, and we said to get back in. Our advice was right on the money.
Well, now it's the opposite. We are overbought and that trend is weakening and sometimes this indicator goes coast to coast.
Everywhere these days fund managers are bullish. Economists are bullish. We are now turning less bullish. Tighten up your stops. The time to get in was several months ago.
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All commentary written by StockPickReport staff or contracted writers and analysts.
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:
Nasdaq 100 (AMEX:QQQQ) -- SELL http://www.stockmonthly.com/QQQQ-Stock-Research.php
General Electric (NYSE:GE) -- WEAK SELL http://www.stockmonthly.com/GE-Stock-Research.php
LSI Logic Corporation (NYSE:LSI) -- SELL http://www.stockmonthly.com/LSI-Stock-Research.php
MBNA Corporation (NYSE:KRB) -- WEAK SELL http://www.stockmonthly.com/KRB-Stock-Research.php