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May 27th, 2003 |
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Prime Update:
Currently we are in the process of updating our subscription software for the Prime Stock Newsletter. During this time we are providing the Prime Stock Newsletter free of charge to all who would like to view it through the Sterling Investment Services home page. The Prime Stock Newsletter provides daily buy and sell recommendations on short term trading opportunities. These are stocks that we expect to be able to trade in and out of any a time period of consisting of 1 day to approximately 2 weeks. In addition to our daily stock recommendations we provide the options recommendation for those who want to take advantage of the expected movement of the selected stock through the options market. Recent successful recommendations have included Marvel Enterprises 'MVL' with a movement of $4.80/share, Dell Computer 'DELL' with a movement of $3..33/share, a Short Sale recommendation on Maxim International 'MXIM' that has produced a gain of $2.56/share within 3 trading day (This position is still considered open). Please visit www.sterlinginvestments.com for more information on the Prime Stock Newsletter. |
The Dow Jones Industrial Average: The overall market slightly higher on Friday in a pre-holiday weekend session that saw the bond market close early. There was strength in the Biotech, interest rate sensistive, and heavy industrial indices. There was weakness in the cyclicals, high tech, broker/dealers, and the drug sector. The Dow Jones Industrial Average 'INDU' continues to trade between two converging trendlines. While I thought there would be a break from these trendlines a couple of weeks ago, it looks like the Dow will do everything it can to delay its move until the latest possible day. It appears from looking at the chart of the Dow that the converging trendlines will have only another 1 maybe 2 weeks before the normal daily fluctuations take the Dow outside of these trendlines. Until then, the previous short term upward trend has been broken, and it appears that the downward trend remains in place. The Bottom Line: The overall market should move lower. Today's Opinion: Closed @ 8,601.38 Current Expectations: Downgraded with a Sell Signal on May 19th, with the close @ 8,493.39 The Index should move lower and test 8,303.78 and then 8,197.94 The S&P 500: The S&P 500 (SPX) closed Friday @ 933.22 up 1.35 points. It appears that the short term upward trend that began March 13th has ended and that the current trend is to the downside. If Friday's activity included some short covering activity ahead of the 3 day weekend, then the S&P 500 and the rest of the market is actually weeker than the chart indicates. Today's Opinion: Closed @ 933.22 Current Expections: Sell Signal with the close of 920.77 on May 19th. The market should continue to move lower and test 895.90 and then 875.40 on a closing basis. The NASDAQ 100 (NDX)
The NASDAQ 100 Index closed Friday @ 1,130.05 down 1.40 points. Much like the other major indices I track it appears that the short term rally in the NDX has ended and atleast a short term move lower has started. I do not foresee this move to lower being of any severity, and I am initially considering it to be a healthy and normal consolidation. Current Opinion: Closed @ 1,130.05 Current Expectations: Called Lower with a Sell Signal with the close on May 19h @ 1,112.50. The NDX should move lower and test 1,093.12 and then 1,023.52 on a closing basis. If you would like to be permanently removed
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| Disclaimer: The Sterling Investments series of newsletters is produced by Sterling Investment Services, Inc. All information used in the production has been obtained from sources believed to be reliable and accurate. Sterling Investment Services does not warrant or assume any liability for inaccuracy of the information used to produce our publications. To receive further information on these services please visit our web page at: www.sterlinginvestments.com If you would like to contact us our fax # is (404)-816-8830 Email address is: enelson@sterlinginvestments.com Sterling Investment Services may hold positions in the securities recommended or may be providing consulting services to the companies mentioned within this report. |
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