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Sterling Weekly for March 7th, 2005

The overall market finished last week on a very positive note with the major market indices closing at their highest levels in the last 3 1/2 years. This is all very positive. I am expecting the Dow Jones Industrial Average to reach our target level of 11,340.47 within the near future, and sometime later this year it should reach our intermediate target level of 11,725.41.

I have taken a look at the various charts for the price of oil, including the near term futures and the cash price. I tend to feel that the cash and nearer futures contracts are the most relevant. I see clearly defined "cup patterns" on all these charts indicating that we could see oil continue to move higher to a range of $64-$69/barrel. A move of that magnitude is not that unrealistic as it would only be roughly 25% higher than our current price levels. I realize that oil is not as significant of a factor for our economy as it used to be, but still a move to those price levels is bound to have an effect on our economy and markets.

Sterling Calendars for the Week of March 7th, 2005
Economic Calendar
Date Est. Time Release For

Briefing.com

Consensus Prior
3/07 3:00pm Consumer Credit Jan 10.0B 4.8B 3.1B
3/09 2:00pm Fed's Beige Book        
3/10 8:30am Initial Claims 03/05 305k 310k 310k
3/10 10:00am Wholesale Inventory Jan 0.8% 0.7% 0.4%
3/11 2:00pm Treasury Budget Feb ($110.0B) ($91.5B) ($96.7B)
3/11 8:30am Trade Balance Jan ($57.0B) ($56.7B) ($56.4B)

Misc. Calendar
Date: Comments:
3/07 Marvel Enterprises 'MVL' Announces earnings before the open
3/07 Wheaton River Minerals Announces earnings after the close
3/08 American Eagle 'AEOS' split is effective March 8th (2:1)
3/08 Checkpoint 'CKP' Announces Earnings before the market opens
3/09 AmNet Mortgage 'AMNT' Announces Earnings before the open
3/10 National Semiconductor 'NSM' Announces Earnings at 12:15pm est
3/10 Kaneb Pipe Line Partners 'KPP' Announces Earnings before the open

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.

Highlights from Recent Editions of the Prime Stock Newsletter
Recommendation Date Entry Pt Recent Close/Exit Price Profit* Notes
Schlimberger 'SLB' Feb 25th $74.65 $78.00 $3.35 Still Held
Anadarko Petro 'APC' Feb 23rd $70.38 $81.37 $10.99 Still held
ConacoPhilips 'COP' Jan 28th $90.00 $112.21 $22.21 Still held

* 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

Dow Jones Industrial Average:

Today's Opinion: Closed @ 10,933.46 Last Signal: Called Higher Current Expectations: I am expecting the Dow Jones Industrial Average to continue to move higher and test 11,340.47 over the near to intermediate term. However since the Dow Jones Industrial Average has already closed above 10,737.70 it has completed a "cup pattern" with an indicated move to 11,725.41 This is my mid term target for the Dow Jones Industrial Average. On a longer terms basis of the next 3-5 years I am expecting the Dow Jones Industrial Average to move higher and test 16,159.69

The S&P 500

Today's Opinion: Closed @ 1,222.12 Last Signal: Called higher Current Expectation: I am expecting the S&P 500 to move higher and test 1,263.35

The NASDAQ 100 (NDX)

Current Opinion: Closed @ 1,523.01 Last Signal: Called Higher Current Expectations: This index may be starting a short term move lower. However over the intermediate term I am expecting the index to test 1,573.49

CBOE Ten Year Treasury Index (TNX)

Current Opinion: Closed @ 4.310 Last Signal: Called Lower Current Expectations: The TNX should move lower and test 4.185% on a closing basis.

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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