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Sterling Weekly for November 17th, 2008

The overall market as measured by the Dow Jones Industrial Average lost approximately 446.50 points, or approximately 5% last week to finish at 8,497.31 In the 1st full week since the Presidential election the overall market continued to see a high degree of volatility. The broad market continues to be under pressure with the high tech sectors looking the worst. I am continuing to look for the overall market to move lower. Our downside targets on the Dow Jones Industrial Average are currently 8,175.77 and then 7,762.34

There was a lot of talk last week on CNBC about the death of the Buy & Hold strategy. Well, the Buy & Hold strategy was never meant to be Buy & Forget. Buy & Hold means having a long term perspective on the investments in your portfolio, but it doesn't mean you can or should try to ignore economic cycles or fundamental changes in our economy such as new technology or a fundamental change in consumer preferences. All remember that yesterday's winners may very easily not be today or tomorrows winners. While it may very well be a good time to be buying shares of Wal-Mart, keep in mind that Sears, and K-mart (as well as many other companies) were both at one time the largest retailers in America, they both filed bankruptcy years after having reached that level. After you invest in a company through the purchase of the shares you still need to monitor the performance of the company and how its industry in fairing in the overall economy. But keep in mind that just because you have a longer term investment objective it doesn't mean you can't adjust your portfolio from time to time.


Sterling Calendars for the Week of November 17th, 2008
Economic Calendar
Date Est. Time Release For

Briefing.com

Consensus Prior
11/17 8:30am NY Empire St. Index Nov.   (26.0) (24.6)
11/17 9:15am Capacity Utilization Oct.   76.6% 76.4%
11/17 9:15am Industrial Production Oct.   (0.1%) (2.8%)
11/18 8:30am Core PPI Oct.   0.2% 0.4%
11/18 8:30am PPI Oct.   (1.5%) (0.4%)
11/18 9:00am Net Foreign Purchases Sep.     $14.0B
11/19 8:30am Building Permits Oct.   770K 805K
11/19 8:30am Core CPI Oct.   0.2% 0.1%
11/19 8:30am CPI Oct.   (0.8%) 0.0%
11/19 8:30am Housing Starts Oct.   780K 817K
11/19 2:00pm FOMC Minutes 10/29      
11/20 8:30am Initial Claims 11/15      
11/20 10:00am Leading Indicators Oct.   (0.6%) 0.3%
11/20 10:00am Philadelphia Fed Nov.   (30.0) (37.5)

  Misc. Calendar
Date: Comments:
11/17

Lowes Co. 'LOW' announces earnings. Time N/A. Est. $0.28

11/17 Target Corp. 'TGT' announces earnings before the open. Est. $0.49
11/18 Home Depot 'HD' announces earnings. Time N/A. Est. $0.39
11/19 BJ's Wholesale Club 'BJ' announces earnings before the open. Est. $0.46
11/20 Barnes & Noble 'BKS' announces earnings before the open. Est. ($0.16)
11/20 Dell, Inc. 'DELL' announces earnings after the close. Est. $0.32
11/21 Ann Taylor Stores 'ANN' announces earnings before the open. Est. $0.01
  The full earnings calendar for this week can be found (here)

Prime Update:

Sterling Investment Services is an investment research and money management firm publishing the Prime Stock Newsletter. The Prime Stock Newsletter is a daily comprehensive newsletter that is useful for investors and traders alike. Whether you are looking for short term trading opportunities ranging from day trading to a couple of weeks or if you looking to acquire a long term portfolio at smart entry points. Subscriptions are $50/month. A Free 2 Week Trial is currently being offered.

Our most recent Performance Report is now available available (here). 17 of our last 20 recommendation resulted in profitable trades for an average profit of $2.10/share. This is an 85% success rate.

Highlights from Recent editions of the Prime Stock Newsletter
Recommendation Date Entry Point Recent Close or Exit Price Profit* Note
Transocean 'RIG' Short Sale Oct 27 $65.09 $59.44 $5.65 Covered on the 28th
Humana 'HUM' Short Sale Oct 28 $32.23 $25.01 $7.22 Covered on the 28th.

DryShip 'DRYS' Short Sale

Nov 10

$15.59 $8.50 $7.09 Covered on the 13th
* The per share PROFIT is a theoretical calculation based upon the opening price the day the recommendation is published and the intra day high (or low for short sales) on the exit day. The exit day is determined based upon the application of our "Rules for Trading", the implementation of "stops" within our stated policy, and may not reflect the complete or full movement of the underlying recommendation.

Dow Jones Industrial Average (INDU)

Current Opinion: Closed @ 8,497.31Last Signal: Called Lower (again) with the close of 8,378.95 on October 24th. Current Expectations: The Dow should continue to move lower and test 8,175.77 and then 7,762.34 on a closing basis.


The S&P 500

Current Opinion: Closed @ 873.29 Last Signal: Called Lower (again) with the close of 876.77 on October 24th. Current Expectations: The S&P 500 should continue to move lower and test 848.92 on a closing basis.


The NASDAQ 100 (NDX)

Current Opinion: Closed @ 1,179.63 Last Signal: Called Lower (again) with the close of 1,202.27 on October 22nd. Current Expectations: The NDX should continue to move lower and test 1,169.78 on a closing basis.


CBOE Ten Year Treasury Index (TNX)

Current Opinion: Closed @ 3.748% Current Expectations: With the current market turmoil it is anyone's guess where interest rates are going. However, my guess is that short term debt instruments will be more sought after than longer term ones.


Disclaimer: The Sterling Investments series of newsletters is produced by Sterling Investment Services, Inc. All information used in the production has been obtained from sources believed to be reliable and accurate. Sterling Investment Services does not warrant or assume any liability for inaccuracy of the information used to produce our publications. To receive further information on these services please visit our web page at: www.sterlinginvestments.com If you would like to contact us our fax # is (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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