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Hottest Deals of the Week
PRIME STOCK NEWSLETTER FOR NOVEMBER 7th, 2005
Position Statement: In our Prime Recommendation Letter we attempt to identify the recommendation with the highest probability of moving higher.  We recommend that stop orders be placed at the time of purchase,  and once the position has moved profitable we recommend a stop be placed a minimum of $0.25 above the purchase price and moved higher as the position moves higher.

Today’s Comments: The overall market finished Friday ever so slightly higher. The strongest sectors on the day was the Biotech, Healthcare Providers, Telecom, Computers, Banking, Retailers, Pharmaceuticals, Internet, Semiconductors, Disk Drive Makers, Chemicals, Insurance, and Broker/Dealers. There was weakness in the Oil & Gas, Natural Gas, Commodities, Gold/Silver, Cyclicals, and Utility indices. The bond market saw weakness as interest rates moved slightly higher. The overall market continues to look positive, while Friday's trading volume was down slightly from Thursday the vast majority of the sector indices I looked at remained in upward trends and the heavy volume stocks continued to look positive.

The Bottom Line: The overall market should move higher.


Sterling Calendar for November 7th, 2005

Date Est. Time Release For

Briefing.com

Consensus Prior
11/07 3:00pm Consumer Credit Sep $3.0B $6.0B $4.9B
Date: Comments:
Nov. 07 American Bio Medica 'ABMC' reports earnings after the close. Est. N/A
Nov. 07 Midway Games 'MWY' announces earnings after the close. Est. ($0.25)
Nov. 07 Rural Cellular Corp. 'RCCC' announces earnings. Time N/A. Est. ($0.70)
Nov. 07 ViroPharma 'VPHM' announces earnings before the open. Est. $0.21
Nov. 07 WD-40 Co. 'WDFC' announces earnings. Time N/A Est. $0.54
The full earnings calendar for this week can be found (here)

Recommendation:

Advanced Micro Devices 'AMD'

Company: Advanced Micro Dev. Symbol: 'ADM' Closing Price: $24.63
Web http://www.amd.com YH: $26.07 YL: $14.08 EPS: $0.10 P/E: 241
Shares Outstanding: 398 Million Forecasted EPS: $0.76 Market Cap.: $9.8 Billion
Dividend: N/A Yield: N/A Aver. Daily Trading Volume: 9.4 Million Shares  
Price Targets:  $25.66, $30.32 and then $35.54 Downside Stop:  $23.44/share
Options Rec.: November 22.50 Calls @ $2.40/contract Options Symbol: AMDKU
Company Description: Advanced Micro Devices, Inc. (AMD) engages in the design, manufacture, and marketing of industry-standard digital integrated circuits worldwide. The company offers microprocessors, flash memory devices, and embedded microprocessors. The microprocessor products are used in desktop and mobile personal computers, servers and workstations, and chipset products. The flash memory products are used in mobile telephones, consumer electronics, automotive electronics, networking equipment, and other applications. The embedded microprocessors are used in personal connectivity devices and specific consumer markets. AMD’s customers include original equipment manufacturers and third-party distributors. The company markets its products through direct sales force, third-party distributors, and independent sales representatives. It operates primarily in the United States, as well as in Europe and Asia. Advanced Micro Devices was founded in 1969 and is headquartered in Sunnyvale, California.
Recent News: 11/04 UPDATE - Spansion sets IPO at 35.3 mln shares, $16-$18 each at Reuters (Fri, Nov 4)
  11/03 Intel to ship more dual-core processors by end-2006 at Reuters (Wed, Nov 2)
11/02 Wyse, AMD Work to Eliminate Digital Divide; Deliver Thin Computing Solutions PR Newswire (Wed, Nov 2)
Our Analysis: The shares of 'Advanced Micro Devices 'AMD' have been moving higher since mid-October and recently closed above short-term upside resistance. The shares of 'AMD' are component of the Philadelphia Semiconductor Index 'SOX' which recently generated a buy signal with our technical indicators. The shares of 'AMD' are in the process of completing what is referred to as a "cup & handle" pattern. The shares of 'AMD' should continue to move higher and test $25.66/share, which is their yearly closing high and will complete the handle portion of the pattern. If the shares of 'AMD' close above that level then I expect them to continue to move higher and test $30.32/share. On a longer term basis the shares of 'AMD' have completed the "cup" portion with a measured move to $35.54/share. I see downside support on the shares of 'AMD' at $23.85/share, and have set our stops accordingly at $23.44/share.

INDICES
Dow Jones Industrial Average (INDU): Closed @ 10,530.76 Last Signal: None. Current Expectations: I am expecting the Dow Jones Industrial Average to move higher and test 10,546.35 and then 10,682.94 on a closing basis.

S&P 500 (SPX): Closed @ 1,220.14 Last Signal: none Current Expectation: I am expecting the S&P 500 to move higher and test 1,228.81 and then 1,241.48 on a closing basis.

NASDAQ 100 (NDX): Closed @ 1,628.03 Last Signal: none Current Expectations: In Friday's edition of the Prime Stock Newsletter I mentioned that the NDX had reached a level of resistance marked by a "double top." Friday's upward move in the NDX carried the index above that level. While the index may see a short term pullback below the 1,627 level, I am expecting the NDX to move higher and test 1,675.03 and then 1,720.91

CBOE Ten Yr Treasury Index (TNX): Closed @ 4.657% Last Signal: Called Higher after the close of trading on October 25th at 4.508% Current Expectations: This index made a very quick trend reversal and should continue to move higher and test then 4.695% on a closing basis.

Stocks Looking Higher
CGFW, AHS, MRGE, RHAT, MFC, CME, FCFS, ACE, CMX, GS, GLYT, AON, MU, CELG, RL, MER, GOOG, MSFT, PFE, INTC, AMGN, SNDK, BAC, WMT, TXN, IBM, LEH, MOT, DNA, TGT, BBY, HD, DD, GENZ, HET, TYC, EMC, WM, LLY, AMD, CELG, WAG, MRVL, CCL, RL, AVP, SYY, RCL, TJX

Stocks Looking Lower
JNJ, CHK, MO, LMT, NTLI, SINA, GIS, ABX

Yesterday's Edition of the Prime Stock Newsletter
The Sterling Investment series of newsletters is produced by Sterling Investment Services, Inc.  If you would like to receive a chart on any index or stock mentioned in this report please contact us at the below mentioned numbers.  We also offer custom research reports on any stock investment that you may desire information on.  To receive further information on these services please visit our web page at:  www.sterlinginvestments.com   If you would like to contact us our # is 800-275-6901,  fax # (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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