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PRIME STOCK NEWSLETTER FOR October 26th, 2010

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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 Monday moderately higher in a relatively broad based move that saw the majority of the sector indices I track move higher. There was strength in Chemicals, Consumer, Commodities, Cyclicals, Pharmaceuticals, Healthcare, Insurance, Insurance, High Tech, Retailers, Airlines, Broker/Dealer, Gold/Silver, Telecom, Gold/Silver, Oil & Gas, and Oil Services indices. There was weakness in the Banking, and Natural Gas indices. Oil was higher by $0.83 to $82.52 per barrel, and Gold was higher by $13.80 to $1,338.90 per ounce.



Recommendation: Sell/Short

Avon Products, Inc. 'AVP'

Company: Avon Products, Inc. Symbol: 'AVP'

Closing Price: $33.02

Web: www.avoncompany.com

YH: $36.39 YL: $25.00 EPS: $1.47 P/E: 21

Shares Outstanding: 429 Million

Forecasted EPS: $1.98 Market Cap.: $13 Billion
Dividend: $0.88 Yield: 2.90% Aver. Daily Trading Volume: 4 Million Shares  
Price Targets:  $31.79 and then $29.31 Upside Stop:  $33.57
Options Rec.: Nov 35 Puts @ $2.95/contract Options Symbol: AVP W 35

Additional information on Avon Products, Inc. 'AVP' can be found (here)

Company Description: Avon Products Inc. manufactures and markets beauty and related products worldwide. Its product categories include color cosmetics, fragrances, skin care, and personal care; fashion jewelry, watches, apparel, footwear, and accessories; and gift and decorative products, housewares, entertainment and leisure, and children’s and nutritional products. Avon Products Inc. markets its products through direct selling and independent representatives, as well as through distributorships. The company was founded in 1886 and is based in New York, New York.

Chart for Mosaic Company

Chart updates daily

Recent News: 10/12 Avon Jumps: 'Whispers' Say L'Oreal May Bid at Barrons.com (Tue, Oct 12)
   
   

A full list of the news headlines for Avon Products, Inc. 'AVP' can be found (here)

Our Analysis: The shares of Avon Products, Inc. 'AVP' moved sharply 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 'AVP' should continue to move lower and test $31.79/share, the point from which they gapped higher on the open of trading on October 8th of this year. If the shares of 'AVP' close below that level then they should continue to move lower and test $29.31/share, the point from which they gapped higher on the open of trading on September 2nd of this year. I see upside resistance on the shares of 'AVP' @ $33.16/share, and have set my stops accordingly @ $33.57/share.


Stocks Looking Higher

TSN, LCC, CTRP, PETM, ADSK, WAT, ARBA, SFSF, RIMM, DOW, YHOO, SPLS, DIS, DD, ALL, TRV, CE

Stocks Looking Lower
BAC, JPM, STX, SFT, LLY, AVP, STJ, KRE, MCO

Yesterday's Edition of the Prime Stock Newsletter
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