SHREVEPORT, La., April 17, 2006 (PRIMEZONE) -- DonHarrold.net (IARD #119079, http://www.donharrold.net), rates Lucent Technologies Inc (NYSE:LU), Sun Microsystems Inc (Nasdaq:SUNW), Medtronic Inc (NYSE:MDT), and Motorola Inc (NYSE:MOT).
DonHarrold.net provides unbiased stock ratings from registered investment advisors. DonHarrold.net issues daily market commentary and features a member's area with detailed information on widely held stocks.
Important Stock rating Changes:
Lucent Technologies Inc (NYSE:LU)
DonHarrold.Net Rating: Sell
http://www.stockpickreport.com/abrating.php?sym=LU
Sun Microsystems Inc (Nasdaq:SUNW)
DonHarrold.Net Rating: Sell
http://www.stockpickreport.com/abrating.php?sym=SUNW
Medtronic Inc (NYSE:MDT)
DonHarrold.Net Rating: Weak Sell
http://www.donharrold.net/ratings/US/MDT.php
Motorola Inc (NYSE:MOT)
DonHarrold.Net Rating: Weak Buy
http://www.donharrold.net/ratings/US/MOT.php
DonHarrold.net Commentary -- April 17, 2006
When I look at daily charts I see a market that wants us to believe it's cool to jump on in: A little pullback has occurred (as I predicted). No real "bad" news on the horizon (unless you count rising oil prices, skyrocketing commodity prices, rising interest rates, continued "war" in Iraq, the threat of international "bird flu" outbreak, imminent "war" with Iran, and inflation numbers -- real inflation, not the bogus "no inflation in sight" baloney from the government). Plus, I've got some stocks coming up on my OVERSOLD scans. So, all that combines for reasons to buy with abandon, right?
WRONG.
Weekly and monthly charts show stochastics and RSI are still in "fall off a cliff" or "time to jump ship" mode. Folks, you gotta look beyond the daily charts. You must look deeper. Wall Street hopes you don't, but I'm here to give it to you straight.
My opinion is that any buys you make now should be made with a high degree of caution. If you buy any stocks make sure you've got stop/losses in mind and you are READY to sell in a down turn. The point I want to make here is that this is not the time to "go long" or "set it and forget it".
If you buy stocks this week, understand that what happens this week may give you the false impression that the market is about to begin a STRONG move higher. I would not buy into that until the technicals confirmed it.
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