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 |
| 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:
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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
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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. |
