SHREVEPORT, La., May 25, 2005 (PRIMEZONE) -- StockPickReport.Com (IARD #119079, http://www.stockpickreport.com - the web's only non-mainstream stock rating service), rates Lucent, iShares Russell 2000, VERITAS Software Corporation, Bank Of America Corp.
STOCKPICKREPORT RATINGS:
Lucent (NYSE:LU) - STRONG SELL http://www.stockpickreport.com/abrating.php?sym=LU iShares Russell 2000 (AMEX:IWM) - WEAK BUY http://www.stockpickreport.com/abrating.php?sym=IWM VERITAS Software Corporation (Nasdaq:VRTS) - WEAK BUY http://www.stockpickreport.com/abrating.php?sym=VRTS Bank Of America Corp (NYSE:BAC) - STRONG SELL http://www.stockpickreport.com/abrating.php?sym=BAC Wednesday, May 25, 2005 StockPickReport Commentary Neil Batho, Columnist
So gold stocks rallied today and all the gold stocks mentioned yesterday had some substantial one-day moves except Anglogold. Newmont was up 2.39%, Anglogold was up only 0.28%, but Placer Dome was up 3.91%, this being one of the most sold-off gold mining stocks. What does all this mean?
Nothing.
Sorry, I know it is anti-climactic. It's just that one-day moves really do mean nothing. The U.S. dollar has been strengthening for weeks, so gold them metal has been going down as well as gold stocks. This was a technical bounce, albeit a bounce that was easy to spot, and easy to make a trade out of. This may continue for a little longer, but it has yet to turn into a trend. We're speculators for catching this bottom and we'll hold on for now seeing as how gold stocks are one of the most oversold sectors. If you bought today, make sure your profit does not turn into a loss--that is a key to trading (speculating).
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If the links to our ratings above do not work, please use these:
Lucent (NYSE:LU) - STRONG SELL http://www.stockmonthly.com/LU-Stock-Research.php iShares Russell 2000 (AMEX:IWM) - WEAK BUY http://www.stockmonthly.com/IWM-Stock-Research.htm VERITAS Software Corporation (Nasdaq:VRTS) - WEAK BUY http://www.stockmonthly.com/VRTS-Stock-Research.php Bank Of America Corp. (NYSE:BAC) - STRONG SELL http://www.stockmonthly.com/BAC-Stock-Research.php