SHREVEPORT, La., March 7, 2006 (PRIMEZONE) -- StockPickReport.Com (IARD No. 119079, http://www.stockpickreport.com ) issues the following stock ratings changes in Select Sector SPDR: Energy (AMEX:XLE), Atmel (Nasdaq:ATML), ChevronTexaco (NYSE:CVX), Elan (NYSE:ELN).
StockPickReport.com provides unbiased stock ratings from registered investment advisors. StockPickReport offers subscription services for Swing traders, Day traders and Penny Stock Traders. StockPickReport.com issues daily market commentary and features a members' area with detailed information on over 12,000 stocks.
Important Stock rating Changes for March 7, 2006:
Select Sector SPDR-Energy (AMEX:XLE) -- BUY
http://www.stockpickreport.com/abrating.php?sym=XLE
Atmel Corporation (Nasdaq:ATML) -- SELL
http://www.stockpickreport.com/abrating.php?sym=ATML
ChevronTexaco Corporation (NYSE:CVX) -- SELL
http://www.stockpickreport.com/abrating.php?sym=CVX
Elan Corp Plc (NYSE:ELN) -- STRONG BUY
http://www.stockpickreport.com/abrating.php?sym=ELN
StockPickReport Commentary -- March 7, 2006
SHORT IRONY PART ONE
You know that our stance is that the market is overbought. You know we tell you now is a great time to sell. You know we are generally of the opinion that taking profits after the last couple months run-up is not a bad idea.
So, I thought I'd share with you something kind of funny. Not "ha ha" funny. "Irony" funny.
A major magazine ran an article today saying to not short this market. Now, you can't fault them for being wrong TODAY. The market was tanking while the article was only a few hours old. But, you can't blame the magazine for that. Hey in fact, the truth is I would be impressed if they made a bold statement like, "don't sell this market short" against the CLEARLY overbought market -- if they backed it up.
BUT, (here is the ironic part) the statistics they use to defend their position revolves around "fundamental analysis" of earnings, "trailing" earnings, fed actions, worldwide "non" recession, and, other related stats. What's funny to me is that RIGHT NEXT TO THAT was a "headlines box" with the following headlines:
-- U.S. Factory Orders Post Big Decline -- AT&T-BellSouth Might Cut 10,000 Jobs -- GM to Sell Bulk of Suzuki Stake -- DaimlerChrysler Finds Improper Payments
That, my investing friend, is the definition of IRONY.
The TRUTH is that the economy of the U.S. is not real good right now. In another long-winded essay, I can explain why. But, just go with me on this -- things ain't what Wallstreet (and the Bush administration) want us to believe.
...part two continued in next release...
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