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Sterling Investment Services has recently initiated research coverage on Sun River Energy, Inc. We feel that this company has excellent long term potential and is worth taking a serious look at. Additional information on Sun River Energy, Inc. (OTC BB: SNRV) can be found (here)


The August 3rd edition of the Sterling Weekly is now available. A copy of which can be viewed (here). In this week's edition of the Sterling Weekly, we take a look at the price of Gold, and where we think it is going. Please feel free to sign up to receive this edition of the Sterling Weekly when it is available.

We are currently offering free subscriptions to the Sterling Prime Stock Newsletter through September 1st, 2009. If you would like to take advantage of this offer, please click (here).

Our July 28th recommendation of Metavante Technologies 'MV' surpassed our stated price target $29.30/share, and set a new all time closing high of $30.80 on July 31st.

Our July 24th recommendation of Goodyear Tire 'GT' surpassed our stated price target of $16.47 and set a new 2009 closing high of $17.02 on July 31st.

Our most recent Performance Report on the recommendations contained within the Sterling Prime Stock Newsletter can be found (here.) 16 or our last 20 recommendations were profitable. This is a 80% success rate. Additionally archived copies of our Performance Reports are available (here.)

 

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PRIME STOCK NEWSLETTER FOR August 3rd, 2009

(If you do not see today's edition, please hit the refresh button)

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 $0.375 above the purchase price and moved higher as the position moves higher.

Today's Comments: The overall market finished Friday mixed with the Dow Jones Industrial Average and the S&P 500 finishing slightly higher and the NASDAQ finishing slightly lower. There was strength in the Cyclicals, Banking, Insurance, Transports, Oil & Gas, Broker/Dealer, Chemicals, and the Natural Gas indices. There was weakness in the Biotech, Telecom, Healthcare Providers, and Consumer indices. The high tech indices were mixed.

In my review of the charts from Friday's trading activity I noticed a couple of items that I feel may be indicating that the current market rally may be running out of steam. 1st a fair number of the sector indices I track are showing weakness in their current trends. Secondly, just over half of the heavy volume stocks I looked at have downward patterns.


Sterling Calendars for August 3rd, 2009
Date Est. Time Release

For

Consensus Prior
08/03 10:00am Construction Spending June (0.6%) (0.9%)
08/03 10:00am ISM Index July 46.5 44.8
08/03 2:00pm Auto Sales July   3.4M
08/03 2:00pm Truck Sales July   3.8M
08/04 8:30am Personal Income June (1.0%) 1.4%
08/04 8;30am Personal Spending June 0.3% 0.2%
08/04 10:00am Pending Home Sales June 0.3% 0.1%
08/05 8:15am ADP Employment Change July (340K) (473K)
08/05 10:00am Factory Orders June 0.5% 1.2%
08/05 10:00am ISM Services July 48.0 48.8
08/05 10:30am Crude Inventories 07/31   5.15M
08/06 8:30am Initial Claims 08/01    
08/07 8:30am Average Workweek July 33.0 33.0
08/07 8:30am Hourly Earnings July 0.1% 0.0%
08/07 8:30am Nonfarm Payrolls July (333k) (467k)
08/07 8:30am Unemployment Rate July 9.6% 9.5%
08/07 2:00pm Consumer Credit June ($4.1B) ($3.2B)
  Misc. Calendar
Date: Comments:
08/03 Anadarko Petroleum 'APC' announces earnings after the close. Est. ($0.68)
08/03 Centex Corp. 'CTX' announces earnings after the close. Est ($1.17)
08/03 Chesapeake Energy Corp. 'CHK' announces earnings after the close. Est. $0.51
08/03 Duff & Phelps 'DUF' announces earnings after the close. Est. $0.22
08/03 Humanna 'HUM' announces earnings at 6:00am ET. Est. $1.64
08/03 MGM Mirage 'MGM' announces earnings before the open. Est. ($0.09)
08/04 BMC Software 'BMC' announces earnings after the close. Est. $0.49
08/04 Discovery Communications 'DISCA' announces earnings at 7:00am. Est. $0.33
08/04 UBS 'UBS' announces earnings at 1:00am ET. Est. N/A
08/05 Cisco Systems 'CSCO' announces earnings after the close. Est. $0.44
08/05 Devon Energy 'DVN' announces earnings before the open. Est. $0.58
08/05 Dollar Tree Stores 'DLTR' announces earnings before the open. Est. $05.0
08/06 World Wrestling Ent. 'WWE' announces earnings before the open. Est. $0.19
08/07 HH Gregg 'HGG' announces earnings. Time N/A. Est. $0.03
  The full earnings calendar for this week can be found (here)

Recommendation: BUY

Massey Energy Company 'MEE'

Company: Massey Energy Company Symbol: 'MEE' Closing Price: $26.60

Web: www.masseyenergyco.com

YH: $81.95 YL: $9.62 EPS: $2.01 P/E: 13

Shares Outstanding: 85 Million

Forecasted EPS:.$1.17 Market Cap.: $2.3 Billion
Dividend: $0.24 Yield: 0.90% Aver. Daily Trading Volume: 7.8 Million Shares  
Price Targets:  $29.95, and then $35.15 Downside Stop:  $25.41/share
Options Rec.: August 25Calls @ $2.60/contract Options Symbol: MEE HE

Additional information on Massey Energy Company 'MEE' can be found (here)

Company Description: Massey Energy Company, through its subsidiaries, produces, processes, and sells bituminous coal primarily in the United States. The company’s customers include electric utilities, steel manufacturers, industrial customers, and energy traders and brokers. As of January 31, 2009, it owned and operated approximately 160 wells, 200 miles of gathering line, and a range of small compression facilities in Appalachian Basin. The company also operated 66 mines, including 46 underground and 20 surface in West Virginia, Kentucky, and Virginia. Massey Energy Company distributes its products through freight and terminal agreements with various providers, including railroads, barge lines, ocean-going vessels, bulk motor carriers, and terminal facilities. The company was founded in 1912 and is headquartered in Richmond, Virginia.

Chart for Mosaic Company

Chart updates daily

Recent News:
  07/30 Massey Energy Adding Miners to Keep Pace With Asian Demand, According to AP PR Newswire (Thu, Jul 30)
  07/30 Massey Energy Q2 2009 Earnings Transcript at Seeking Alpha (Thu, Jul 30)
A full list of the news headlines for Massey Energy Company 'MEE' can be found (here)

Our Analysis: The shares of Massey Energy Company 'MEE' moved solidly higher on the last 3 trading days of last week on heavier than normal trading volume. On Friday of last week the shares of 'MEE' closed above a key upside resistance level on heavier than normal trading. This is a bullish trading signal. In the short term I am expecting the shares of 'MEE' to continue to move higher and test $ 29.95/share, a former point of downside support that was established on May 10th of 2007, that has now become upside resistance. On a slightly longer term basis, I am expecting the shares of 'MEE' to test $35.15/share, our target from a cup pattern that was completed with Friday close. I see downside support on the shares of 'MEE' @ $25.81/share, and have set my stops accordingly at $25.41/share.


Stocks Looking Higher

LINE, SBUX, COMS, ETP, LZ, TIBX, CAKE, VAL, ALLI, NRGY, BMO, AA, HPQ, FCX, CVX, GT, CAT, LNC, LOW, MEE, CENX, JCI, LUV, NWS, DD, SGY, NSM, GTI


Stocks Looking Lower

LVS, YHOO, INTC, DELL, DIS, EMC, BRCD, MCD, QCOM, MRVL, PBI, TWX, V, NTAP, BDX, PTEN, SO, MCO


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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