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PRIME STOCK NEWSLETTER FOR November 10th, 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 major market indices finished the day moderately lower in a relatively broad based move. There was weakness in the Oil Services, High Tech, Transports, Telecom, Oil & Gas, Broker/Dealers, Airlines, and basically everything else. Oil was lower by $0.34 to $86.72 per barrel, and Gold was higher by $6.90 to $1,410.10 per ounce.



Recommendation: Sell/Short

Abbot Labs, Inc. 'ABT'

Company: Abbot Labs, Inc. Symbol: 'ABT'

Closing Price: $50.05

Web: www.abbott.com

YH: $56.79 YL: $44.59 EPS: $3.03 P/E: 16

Shares Outstanding: 1.54 Billion

Forecasted EPS:$4.67 Market Cap.: $74 Billion
Dividend: $1.76 Yield: 3.50% Aver. Daily Trading Volume: 7.0 Million Shares  
Price Targets:  $49.34 and then $48.79 Upside Stop:  $50.83
Options Rec.: Options Data Unavailable Options Symbol: N/A

Additional information on Abbott Labs, Inc. 'ABT' can be found (here)

Company Description: Abbott Laboratories engages in the discovery, development, manufacture, and sale of health care products worldwide. It operates in four segments: Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Vascular Products. The Pharmaceutical Products segment offers adult and pediatric pharmaceuticals for rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, psoriasis, Crohn's disease, dyslipidemia, HIV infection, hypothyroidism, advanced prostate cancer, endometriosis and central precocious puberty, anemia, obesity, epilepsy and bipolar disorder, migraines, secondary hyperparathyroidism, gastroesophageal reflux disease, duodenal and gastric ulcers, and erosive esophagitis, as well as provides anesthesia products and anti-infectives. The Diagnostic Products segment offers immunoassay systems; chemistry systems; assays used for screening and/or diagnosis for drugs of abuse, cancer, therapeutic drug monitoring, fertility, physiological, and infectious diseases; instruments that automate the extraction, purification, and preparation of DNA and RNA from patient samples, and detect and measure infections agents; genomic-based tests; hematology systems and reagents; and point-of-care diagnostic systems and tests for blood analysis. The Nutritional Products segment provides a line of pediatric and adult nutritional products. The Vascular Products segment offers coronary, endovascular, and vessel closure devices, such as drug-eluting coronary stent systems, coronary metallic stents, balloon dilatation products, coronary guidewires, vessel closure devices, and carotid stent systems to treat vascular disease. Additionally, the company provides blood glucose monitoring meters, test strips, data management software, and accessories for people with diabetes; and medical devices for the eye, including cataract surgery, lasik surgery, contact lens, and dry eye products. Abbott Laboratories was founded in 1888 and is based in Abbott Park, Illinois.

Chart for Mosaic Company

Chart updates daily

Recent News: 10/21 Glaxo and Lilly sales weak but Novartis bucks trend Reuters (Thu, Oct 21)
  10/20 Abbott Labs 3Q Profit Tumbles on Higher Expenses at Fox Business (Wed, Oct 20)
   

A full list of the news headlines for Abbott Labs, Inc. 'ABT' can be found (here)

Our Analysis: The shares of Abbot Labs, Inc. 'ABT' moved lower yesterday on heavier than normal trading volume. They finished the day by closing below a recently established support level. This is a bearish trading signal. The shares of 'ABT' should continue to move lower and test $49.34/share, the point from which they gapped higher on the open of trading on September 1st of this year. If the shares of 'ABT' close below that level, then they should continue to move lower and test $48.79/share, a former point of upside resistance established on June 16th of this year. I see upside resistance on the shares of 'ABT' @ $50.45/share, and have set my stops accordingly @ $50.83/share.


Stocks Looking Higher

EP, WU, DO, UPL, RAX

Stocks Looking Lower
AKS, KFT, CBS, TIVO, MYL, GPS, ABT, BMY, AMGN, ADM, A[C, NVS, KMB, NYX

Yesterday's Edition of the Prime Stock Newsletter
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