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Sterling Weekly for the Week of December 28th, 2009
Moving Sideways with a New Trading Channel.

Since the previous edition of the Sterling Weekly, the Dow Jones Industrial Average rose 48.60 points, or approximately 0.005%, to finish at 10,520.10 A recent theme to the Sterling Weekly has been where is the market going from here? I tend to believe the market is essentially going to be moving sideways for the time being. I have been publishing off and on the chart of the Dow Jones Industrial Average showing the trendlines as they have evolved that have been in place for approximately the last 16 months. As the chart below shows, it looks like sometime in November the Dow Jones Industrial Average broke below its lower trendline as been more or less tracking sideways since.

Dow Jones Industrial Average December 21st, 2009

Since mid November it looks as if the Dow Jones Industrial Average has started a new trading channel as indicated by the trendlines on the chart below which the Dow has stayed within since then.

Dow Jones Industrial Average 12-24-09

What does this mean for the market?? Well, for starters further upward gains may be much tougher to come by. Secondly there is an increased chance for a market pullback. Personally, I am looking for the market to track sideways until the start of the 1st full week of January. Then we shall see what happens.


Sterling Calendars for the Week of December 28th, 2009
Economic Calendar
Date Est. Time Release

For

Consensus Prior
12/29 9:00am CaseShiller 20 City Oct. (7.30%) (9.36%)
12/29 10:00am Consumer Confidence Dec. 53.0 49.5
12/30 9:45am Chicago PMI Dec. 55.1 56.1
12/30 10:30am Crude Inventories 12/25 N/A (4.84M)
12/31 8:30am Initial Claims 12/26 465K 452K
12/31 8:30am Continuing Claims 12/19 N/A 5,076K

Prime Update:

The Prime Stock Newsletter is our daily newsletter that contains commentary on the overall market, and our single best trading idea for the day! (Both Long & Short Sale Recommendations) We select this stock through a combination of technical (charting) and fundamental (financial) analysis. The Prime Stock Newsletter provides select expanded quotation information, corporate description, select recent company news, our technical analysis of the shares and our expectations, and our options recommendation for the company.

Our most recent Performance Report is now available available (here). We are proud to report 18 of our last 20 recommendation resulted in profitable trades for an average profit of $0.72/share. This is an 80% success rate.

Archived copies of our Performance Reports can be found (here).

Highlights from Recent (20) Editions of the Prime Stock Newsletter
Recommendation Date Entry Point Recent Close or Exit Price Profit* Note
Rockwell Auto 'ROK' Nov 17 $45.18 $46.72 $1.54 Sold on the 18th
Murphy Oil 'MUR' short Dec 8 $54.46 $52.55 $1.91 Covered on the 9th
Southwestern Energy 'SWN' short Dec 9 $41.77 $39.76 $2.01 Covered on the 9th
Travelers Co. 'TRV' short Dec 17 $49.50 $47.89 $1.61 Covered on the 18th
Patriot Coal 'PCX' Dec. 23 $14.90 $16.63 $1.73 Still Open

* Our December 10th recommendation of US. Steel 'X' @ $46.74/share, set a new yearly closing high of $56.86/share on December 24th for a gain of $10.12/share.

* Our November 19th short sale recommendation of JC Penny 'JCP' @ $29.15/share reached our stated target of $27.15/share on December 18th for a gain of $2.00/share.

* Our November 12th recommendation of Western Digital Corp. 'WDC' @ $38.53/share set a new yearly closing high of $44.64/share on December 24th for a gain of $6.11share.

* 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.

 

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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