SHREVEPORT, La., Dec. 14, 2004 (PRIMEZONE) -- Stock-Letter-Daily.Com (http://www.stock-letter-daily.com - an affiliate site of StockPickReport, the web's only non-mainstream stock rating service), rates Apple Computer Inc., Altria Group Inc., eBay, Xilinx Inc.
STOCKPICKREPORT RATINGS:
Apple Computer Inc. (Nasdaq:AAPL) - BUY
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=AAPL
Altria Group Inc. (NYSE:MO) - BUY
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=MO
eBay (Nasdaq:EBAY) - BUY
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=EBAY
Xilinx Inc. (Nasdaq:XLNX) - SELL
http://www.stock-letter-daily.com/rating.asp?format=single&ticker=XLNX
STOCK COMMENTARY Tuesday, December 14, 2004 StockPickReport Commentary Lifeway
Last Thursday night we said, "Every now and then we find a stock with a chart that just looks ready to REALLY breakout. Today, we see a stock in the "Dairy Products" space. The company is Lifeway Foods (Nasdaq:LWAY). If you look at the chart below you'll see a clear level of support (the bottom blue line) and a pretty good level of descending-resistance (the top blue line). When a stock makes this sort of pattern there is ultimately a meeting of the two lines, and then the stock will either break up sharply, or down. Also, please note that stochastics (the bottom indicator) has yet to be "overbought" since July, 2004. RSI (the top indicator) is good, too. In our opinion, as long as LWAY continues to close over $8.75 the breakout for the stock price will be UP."
Friday and Monday, LWAY reacted as if "on cue" and broke out to the upside. Folks, when you get that kind of confluence of technical indicators, you can usually expect a sharp move up.
Where will LWAY go from here? That's a good question. We spoke with one veteran trader today about LWAY and he agreed with us that these sort of breakouts are easier to see ahead of time than they are to ride higher. In our opinion, LWAY has a significant price point ahead. The next "high" price should be $10.54. We derive this from a look at recent highs over the last few months. At $10.54, LWAY will either break higher, or drop sharply.
That sounds like double-speak you say? Well, unfortunately, in the case of LWAY, the breakout is a two-sided coin: On one hand it was a very nice turn of events. On the other hand, the drop to previous support is back around $9.00. If we were trading LWAY, we would use the open price of last Friday ($9.23) as our stop/loss.
New Pattern for The Market?
We are on record as saying that the market is overbought. Folks, the market is just insanely overbought right now. But, that's what some pundits argued before the crash of 2000 - 2003.
From a technical level, we now have a base to look at as a new short-term benchmark. We believe that the S&P 500 has a new base of support at 1,181. If the S&P closes below 1,181 there will be significant downside ahead. As for an upside target, well, based on the charts "the sky's the limit". After shrugging off every shred of rationality over the last month, the market could sharply push upward.
The referenced chart is available at
www.stockpickreport.com/charts/lway.htm
Remember, if you have any questions or comments, please email Don Harrold, don@stockpickreport.com
For More Commentary Go Here:
http://www.stock-letter-daily.com/index.htm
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.
ABOUT STOCKPICKREPORT.COM:
StockPickReport.Com is a stock research firm. Their daily commentary is regular and distributed worldwide. They are Registered Investment Advisors. They do not accept third-party compensation to make stock suggestions.
THEIR DISCLAIMER:
"Our analysis is issued solely for informational purposes. We do not offer to sell or buy any stock. This report does not regard your specific investment objectives, financial situation or particular needs. Our information is based on sources we believe are reliable but are not guaranteed by us as being accurate. We do not purport to offer a complete statement or summary of the available data. Any opinions expressed herein are statements of our judgment as of the date of publication and are subject to change without notice. Reproduction without written permission is prohibited."
"Strike Friday, Inc., or its owners, or employees, may own short or long positions in stock, or options on stock."
"SPR does NOT receive compensation for stock suggestions to our members (other than regular member fees). We do not get paid cash, stock, property (etc) to "profile" a stock to our members. Our opinions are based on RESEARCH ALONE."
"SPR does NOT guarantee any stock will go up OR down. Information published by SPR or emailed to members is opinion, and opinion only. We believe our information is good, accurate, and helpful. Traders should (in our opinion) make "buy" or "sell" decisions based on variables including (but certainly not limited to!), experience, portfolio size, risk-tolerance, and current market conditions - none of which we can determine."
StockPickReport also offers a proprietary stock-picking software suite. Interested investors should visit:
http://www.stock-letter-daily.com/software.htm for more details.
If the links to our ratings above do not work, please use these:
Apple Computer Inc. (Nasdaq:AAPL) - BUY http://www.stockpickreport.com/rating.php?sym=AAPL Altria Group Inc. (NYSE:MO) - BUY http://www.stockpickreport.com/rating.php?sym=MO eBay (Nasdaq:EBAY) - BUY http://www.stockpickreport.com/rating.php?sym=EBAY Xilinx Inc. (Nasdaq:XLNX) - SELL http://www.stockpickreport.com/rating.php?sym=XLNX