SHREVEPORT, La., Sept. 22, 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 Intel, eBay, ADC Telecommunications and Juniper Networks.
STOCKPICKREPORT RATINGS:
Intel (Nasdaq:INTC) -- BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=INTC eBay (Nasdaq:EBAY) -- STRONG SELL http://www.stock-letter-daily.com/rating.asp?format=single&ticker=EBAY ADC Telecommunications Inc. (Nasdaq:ADCT) -- STRONG BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=ADCT Juniper Networks (Nasdaq:JNPR) -- BUY http://www.stock-letter-daily.com/rating.asp?format=single&ticker=JNPR
STOCK COMMENTARY:
Yesterday we said, "Our opinion remains that downside pressure exists and stop/losses are more important at this time than targets." Today's move weakened our resolve slightly on that issue.
Here are two reasons why we believe the bulls may see some play short term:
1. The stochastic indicators we follow (Our settings: 15, 4, 4),
while still in an "overbought" area, turned up today. So,
while the overall trend should be down, a pop higher over the
next few days would not surprise us.
2. RSI (Our settings: 14, with a 4MA) also crossed up today.
This indicator, combined with Stochastics makes a stronger
case for a quick move up.
Yet, MACD (Our settings: 5,34,5) is in a VERY overbought position. The last time MACD was in this position, the S&P moved down 80 points over the next month and a half (June to August, 2004).
Our official position today is that although two key indicators moved out of "clearly overbought" to "slightly overbought", we still are not ready to declare a new "bull market" is on the move. We need to see MACD reverse course, before a change of any sentiment. But, even then, we will still be, at best, "cautiously optimistic".
Our advice: Watch stop/losses. If stocks move up, MOVE YOUR STOP/LOSSES, too. We think better prices could still be around the corner.
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.
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If the links to our ratings above do not work, please use these:
Intel (Nasdaq:INTC) -- BUY http://www.stockpickreport.com/rating.php?sym=INTC eBay (Nasdaq:EBAY) -- STRONG SELL http://www.stockpickreport.com/rating.php?sym=EBAY ADC Telecommunications Inc. (Nasdaq:ADCT) -- STRONG BUY http://www.stockpickreport.com/rating.php?sym=ADCT Juniper Networks (Nasdaq:JNPR) -- BUY http://www.stockpickreport.com/rating.php?sym=JNPR