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PRIME STOCK NEWSLETTER FOR MAY 20th, 2010

(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 Wednesday moderately lower in a broad based move that saw every sector index I track move lower on the day as well. The weakest sectors were the Gold/Silver, Oil Services, High Tech, Natural Gas, Banking, Commodities, Cyclicals, Telecom, Transports, Consumer, Oil & Gas, and Retailers.

Oil was higher by $0.46 to $69.87 per barrel, and Gold was lower by $21.50 to $1,139.10 per ounce.

Due to this morning's activity, I now have a downside target on the Dow Jones Industrial Average of 9,908.39 on a closing bases.

Please Note: That I will be traveling Friday & Monday for my niece's graduation. As a result I will not be publishing a Prime Stock Newsletter form Friday the 21st and Monday the 24th. I will be publishing (and trading) again on Tuesday the 25th. Additionally I will not be publishing a Sterling Weekly this weekend either.


Sterling Calendars for the Week of May 20th, 2010.
Economic Calendar

Date

Est. Time Release

For

Consensus Prior
05/20 8:30am Continuing Claims 05/15 4,600K 4,627K
05/20 8:30am Initial Claims 05/15 440K 444K
05/20 10:00am Leading Indicators Apr. 0.2% 1.4%
05/20 10:00am Philadelphia Fed. May 21.3 20.2
  Misc. Calendar
Date: Comments:
05/19 Advance Auto 'AAP' announces earnings after the close. Est. $1.00
05/19 Applied Materials 'AMAT' announces earnings after the close. Est. $0.21
05/19 Limited 'LTD' announces earnings after the close. Est. $0.19
05/20 Dollar Tree 'DLTR' announces earnings before the open. Est. $0.83
05/20 Ross Stores 'ROST' announces earnings before the open. Est. $1.15
05/20 Target 'TGT' announces earnings before the open. Est. $0.86
05/20 Williams-Sonoma 'WSM' announces earnings before the open. Est. $0.11
05/20 Aeropostale 'ARO' announces earnings after the close. Est. $0.46
05/20 Dell Computer 'DELL' announces earnings after the close. Est. $0.26
05/20 Gap, Inc. 'GPS' announces earnings after the close. Est. $0.43
05/20 Sears Holdings 'SHLD' announces earnings after the close. Est. $0.14
05/20 Intuit 'INTU' announces earnings after the close. Est. $1.82
05/21 Ann Taylor 'ANN' announces earnings before the open. Est. $0.35
  The full earnings calendar for this week can be found (here)

Recommendation: Sell/Short

Halliburton Co. 'HAL'

Company: Halliburton Co. Symbol: 'HAL'

Closing Price: $27.12

Web: www.halliburton.com

YH: $35.22 YL: $18.11 EPS: $1.08 P/E: 25

Shares Outstanding: 905 Million

Forecasted EPS: $1.47 Market Cap.: $25 Billion
Dividend: $0.36 Yield: 1.30% Aver. Daily Trading Volume: 17 Million Shares  
Price Targets:  $25.74 and then $23.34 Upside Stop:  $27.19/share
Options Rec.: June 25 Puts @ $1.08/contract Options Symbol: HAL R 25

Additional information on Halliburton Co. 'HAL' can be found (here)

Company Description: Halliburton Company provides various products and services to the energy industry for the exploration, development, and production of oil and natural gas worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment provides production enhancement services, completion tools and services, and cementing services. Its production enhancement services include stimulation, pipeline process, sand control, and well intervention services; completion tools and services comprise subsurface safety valves and flow control equipment, surface safety systems, packers and specialty completion equipment, intelligent completion systems, expandable liner hanger systems, sand control systems, well servicing tools, and reservoir performance services; and cementing services consist of bonding the well and well casing, while isolating fluid zones and maximizing wellbore stability, and casing equipment. The Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation, and well construction solutions that enable customers to model, measure, and optimize their well placement and reservoir evaluation activities. Its services include fluid services, drilling services, drill bits, wireline and perforating services, testing and subsea services, software and asset solutions, and consulting and data management services. The company serves national, integrated, and independent oil and gas companies. Halliburton Company was founded in 1919 and is headquartered in Houston, Texas.

Chart for Mosaic Company

Chart updates daily

Recent News: 05/19 Heavy oil hits Louisiana shore, enters sea current at Reuters (Wed, May 19)
 

05/19 UPDATE - Halliburton indemnified from Gulf spill costs-CEO at Reuters (Wed, May 19)

  05/18 UPDATE - U.S. expands no-fishing zone around oil spill at Reuters (Tue, May 18)

A full list of the news headlines for Halliburton Co 'HAL' can be found (here)

Our Analysis: The shares of Halliburton Co. 'HAL' have been in a downward trend since late April when the drilling accident occurred in the Gulf of Mexico. Yesterday the shares of 'HAL' closed below a recently established downside support level on heavier than normal trading volume. This is a bearish trading signal.

I am unfortunately getting this update out a little late today due to the market turmoil. The shares of 'HAL' gapped lower on the open of trading. As a result I treated what would have normally been my 1st downside price target of $26.80/share as upside resistance, and therefore established my upside stop @ $27.19/share.

I have downside price targets of $25.74/share, which has been surpassed as of the time of publication. My next downside price target is $23.34/share, a point of downside support established on September 2nd, 2009.


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Yesterday's Edition of the Prime Stock Newsletter
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