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WARNING - After-hours investing involves unique risks. These risks may include greater price volatility, less liquidity, and wider bid/ask spreads than during regular market hours.
The markets were down the following last week: Dow -14.3%; Nasdaq -16.1%; S & P 500 -11.7%; and Russell 2000 -14.0%. The markets did regain some of what was lost last week but there is more to be made up in this market.
The Week Past
Well, we had the Dow up large last week by finishing +7.4% for the week, the Nasdaq finished the week +5.3%, The S & P 500 was +7.8%, and the Russell 2000 was +6.9%. All traders should pay closer attention to their mental stops or plan on riding out some bumps along the way.
This last week was a large upturn for the Dow and a large upturn for the Nasdaq. We believe margin is fine to use if you DO NOT margin all your holdings. We feel it would be prudent to have 1/4 of an account on margin at this time.
We believe that a long-term or swing-trader should have 1/4 of their portfolio on margin at this time. A daytrader could have some margin of up to 1/4 of his holdings if you use tight stops. We want short-term traders to have their stops in at -5%. We suggest using -20% stops on your long-term positions at this time.
Well, the Dow was up large and the Nasdaq finished the week up large.
Last Weeks Economic News
The Economic reports coming this week are: No old economic news to report this week.
This Weeks Economic News
The reports are: on October 1st at 12:00 AM EST the Auto and Truck Sales report will be released; at 8:30 AM EST the Personal Income and Consumption reports will be released; and at 10:00 AM EST The Philadelphia Fed Index and Chicago PMI reports will be released, on October 2nd at 2:15 PM EST the FOMC will release their report on interest rates, on October 4th at 8:30 AM EST the report on Initial Claims on joblessness will be released; and on October 5th at 8:30 AM EST The Employment Report will be released. These reports will rate a C- to A+ on a scale of A-F. Everyone should place close attention to pre-market trading and how the futures are acting each morning before the market opens for trading.
IPOs by M_A_Trader©:
Ipos are not coming out now as the market goes lower. There will not be many ipos coming to the market so check them out on at this web site. Click on Ipo Info is a great site to research ipos.WARNING: IF YOU BUY IPOs AFTER THE STOCK OPENS USE LIMIT ORDERS ONLY.
No new stock rumors at this time.
The FED's next meeting will be on October 2, 2001. The Fed funds futures are pricing in a 25 basis point rate cut at that time. There is a chance the FED will lower 50 basis points at this time. The FED next meets on November 6, 2001.
"A" Portfolio Stock Report by M_A_Trader©
We added more AAPL at $15.00; MLNM at $16.25; NOK at $14.50; QQQ at $31.80 and $27.25; INTC at $24.00 and $19.32; CSCO at $13.00 and $11.50; SUNW at $9.50 and $7.75; DELL at $20.75 and $16.25; RIMM at $13.85 ; VTSS at $10.50 and $8.37; and LUV at $12.00 during the week of September 17 - 21, 2001 to our "A" Portfolio. We sold JWN at $21.00 on August 20, 2001.
AAPL ($15.54) News for AAPL: No new news for AAPL. AAPL
MDT ($44.00): Medtronic, Inc. News for MDT: No new news for MDT. MDT
CTLM: Centillium Communications. News for CTLM ($5.34): No new news for CTLM CTLM
ISIL ($26.29): No new news for ISIL. ISIL
RETK ($11.80): etek Inc. News for RETK: RETK
AXP American Express ($29.38). News for AXP: No new news for AXP. AXP
FRE ($65.85) News for FRE: No new news for FRE. FRE
Financial Sel Sect Spdr Fd (AMEX: XLF $26.27) is a sector spider traded on the AMEX.
The upper resistance levels for the Nasdaq is 1,450 and then 1,505. We would like to see the Nasdaq stay above 1,300. The Dow has resistance is at 9,300.
We have been using this as a guideline only. We are holding some stocks with a loss of over -30%. If this market breaks down lower we may dump some of the losing stocks that are in our "A" Portfolio. The "A" Portfolio is going to a strict percentage gain or loss sell mode for now with the market fluctuating so much at this time. If a position moves up +20% one-quarter of the position will be sold, at +40% another one-quarter will be sold, and then at +75 to +100% another one-quarter of the position will be sold. That will leave one-quarter of the position to ride the stock higher. We still will use -30% to exit a stock position. Our targets for these stocks are on our Charts page.
We will talk about more of the stocks in the "A" Portfolio in the coming weeks.
All the past additions to the "A" Portfolio are on this page now."A" Portfolio Additions
Please read our disclaimer about the "A" Portfolio here. "A" Portfolio Disclaimer
Stock Charts for 2000 and 2001
The Charts page will be up and running by the end of October 2001.This page has links to all our stock charts and "A" Portfolio results for 2001.The Charts
No news about Canadian stocks at this time.
Stocks We Like
Research in Motion closed the week at $14.39 we have lowered our 12 month target to $75 (RIM, TSE) (RIMM, NASDAQ). We are letting RIMM run for our target of $75. You may have to hold RIMM for 12 - 18 months depending on how the market is doing. RIMM has found partners in AOL and Compaq. Amazon has Crackberry available for $499 with service available at $39.95 per month. News for RIMM: No new news for RIMM. RIMM
VIRS ($4.34) is a very speculative buy at this time. VIRS is a strong buy if it sinks down to $2 1/2 - 3 1/2 Only buy it if you can afford to lose all you invest in it. The chart for VIRS is not looking good so continue to hold this stock for our new $24 target. News from VIRS: No new news for VIRS now.
Management and product development strategy is available on Triangle's website at: VIRS
We are adding another blown up stock as a speculative buy. We are adding ZOOX (.99), as a very risky buy at $2 ˝ or lower with a target of $10 in 24 months. ZOOX is currently having a slow down in sales year to year. Its new switch for SANS are not selling as well as management expected. New management has been installed but it may take two or more quarters to fix their inventory oversupply. Well, ZOOX has not been doing very good since we recommended it a few months ago. We would average into more of ZOOX and hold for the long-term. ZOOX may be dead money for the next two-three quarters. News for ZOOX this week: No new news for ZOOX. Only buy this stock if you can afford to lose your entire investment in ZOOX.ZOOX
We are looking at adding IOM Iomega Corp. ($6.60 IOM had a reverse stock split of 1 new shares = 5 old shares last week) to our "A" Portfolio under $3.00. It has come out with a new storage device for home computers that will hold 10-20 Gigs of data. IOM is another beaten up high tech stock so only invest money in it you can afford to lose all. We added more IOM at $2.10 to our "A" Portfolio on June 18, 2001.
Iomega Corporation designs, manufactures and markets innovative storage solutions, based on removable-media technology for personal computer & electronics device user IOM
News for IOM: "ROY, Utah, June 25 /PRNewswire/ -- Iomega Corporation (NYSE: IOM), a global leader in reliable portable data storage, will unveil the new Zip(R) 100MB USB Powered drive this week at PC Expo. The stylish Zip 100MB USB Powered drive is roughly half the size of its predecessor and receives both data and power through a single USB cable. By eliminating the need for a separate power cord, Iomega has made its industry standard Zip drive more portable and easy to use than ever. Included with the drive is Iomega QuikSync(TM) automatic backup software, a 39.95 value. With QuikSync software, files saved to any protected directory are transparently copied to the Zip 100MB USB Powered drive. Users can also choose between continuous backup or customized scheduling. "Digital solutions should make life simpler," said Doug Collier, senior vice president, marketing and product management, Iomega Corporation. "Getting the full functionality people expect from a Zip drive is as simple as plugging in one cable, and our QuikSync software is the simple tool that computer users need to keep their important data backed up and safe from viruses, computer crashes and other threats." In addition to QuikSync software, the new Zip 100MB USB Powered drive includes software for easily copying an entire floppy collection to a single Zip disk, managing digital audio files, editing digital photos, and accomplishing other tasks. The new Zip 100MB USB Powered drive is also hot swappable, meaning that users can easily connect and use the drive without rebooting the computer. The drive is compatible with Windows(R) operating systems 95, 98, 2000, Me, NT 4.0 Linux (Kernel 2.4.0), and Mac(R) OS 8.5.1 through X. The new Zip 100MB USB Powered drive is expected to be available worldwide in August for a suggested retail price of 99.95. For more information, visit New Zip Here "
For more information about the Iomega Peerless drive system, please visit Peerless. Price and availability The Iomega Peerless drive system can be ordered today by residents of the U.S. through Order Shipments to international regions are expected to begin at the end of May. The drive with interface module retails for 249.95 (U.S. suggested retail price). Individual Peerless disks can be ordered today for 159.95 (10GB) and 199.95 (20GB) (U.S. suggested retail prices). The base station bundled with an interface module and a 20GB disk retails for 399.95 (U.S. suggested retail price). The base station bundled with an interface module and a 10GB disk retails for 359.95. FireWire interface modules are expected to be available within weeks."
We added more IMNX ($19.69) to our "A" Portfolio because they still will sell all the Enbrel they can produce and have a waiting list for Enbrel. IMNX News for IMNX this week: No new news for IMNX.
Corvis Corporation CORV ($1.45) News for CORV: No new news on CORV. CORV
Sycamore Networks (SCMR) ($3.77) News for SCMR: No new news on SCMR. SCMR
Ceragon Networks Ltd. (CRNT $1.97) News for CRNT: No new news for CRNT. CRNT
Capstone Turbine Corp. CPST ($5.30) News for CPST: Well, the news from CPST is that sales for the next quarter will not be as strong as forecast. With that announcement CPST stock sunk like a rock down under $5.00 a share. This stock is getting into the beaten up catagory and we are looking into adding more to our "A" Portfolio sometime during September. CPST
CORR ($22.00) News from CORR: No new news for CORR. CORR
EMBT ($7.00): News for EMBT: No new news for EMBT. EMBT
PALM ($1.48) News for PALM: No new news for PALM. PALM
CMRC ($2.50): News for CMRC: No new news for CMRC. CMRC
HAND ($1.39) Handspring, Inc. News for HAND: No new news for HAND. HAND
CHIR ($45.10) Chiron Corp. is a biotechnology company that is developing products for preventing and treating cancer, infectious diseases and cardiovascular disease. News for CHIR: No new news for CHIR. CHIR
MLNM ($18.29) News for MLNM: No new news for MLNM. MLNM
JDSU ($6.49) News for JDSU: No new news for JDSU. JDSU
MYGN ($32.22) News for MYGN: No new news for MYGN. MYGN
PFE ($41.10) Pfizer Inc. News for PFE: No new news for PFE. PFE
EXTR ($6.60) Extreme Networks provides switching solutions that meet the needs of enterprise local area networks, via utilization of ASIC semiconductors throughout the product line. News for EXTR: No new news for EXTR. EXTR
PBSC ($7.80) Packard BioScience is a developer, manufacturer and marketer of instruments and related consumables and services for use in the life sciences research and nuclear industries. News for PBSC: No new news for PBSC. PBSC
EXDS ($.17) was added to our "A" Portfolio at $8.00. EXDS is a provider of Internet system and network management solutions. EXDS offers server hosting, Internet connectivity, collaborative systems management and Internet technology services. News for EXDS: The news for EXDS is that they declared Chapter 11 bankruptcy last week. EXDS
RBAK ($1.28) was added at $10.55 on June 18, 2001. Here is some information on RBAK: Redback Networks is a provider of advanced networkingsystems that enable carriers, cable operators and service providers to rapidly deploy high-speed broadband access to the Internet and corporate networks. News for RBAK: No new news for RBAK. RBAK
We added Nokia to our "A" Portfolio on September 21, 2001. Nokia (NOK $15.25) is a supplier of telecommunications systems and equipment. The Company's core businesses include the development, manufacture and delivery of mobile phones, and mobile, fixed and IP networks. For the six months ended 6/30/01, net sales rose 14% to EUR15.35B. Net profits fell 15% to EUR1.56B. Revenues reflect higher Nokia Mobile Phone sales in Europe & Asia Pacific, and new product launches. Earnings were offset by increased R&D and SGA expenses. NOK
We have added TMTA to the "A" Portfolio and some more QQQ to our "A" Portfolio and here is some information on TMTA ($1.27) - TMTA develops and sells hardware and software technologies for mobile internet computers. For the 6 months ended 6/29/01, revenues totaled $29.1M, up from $358K. Net loss totaled $92M, up from $43.8M. Revenues reflect higher volume shipments of products, prototypes and development systems. Net loss reflects increased R&D expenses due to additional personnel and the inclusion of a $13.6M in-process R&D charge. TMTA
We are looking at adding some of the following stocks to our "A" Portfolio some time in September: HDI; LUV; SYY; WM; AVZ; TEVA; and more of CPST and HWP.
With the Market being so volatile, a trader should have some close mental stops in the stocks they buy. We suggest a mental stop of 20% is used where appropriate.Income and Bonds
We recommend buying utilities based in Florida and not any utilities based in California. The reason is California based utilities do not produce enough of their own power and have to go onto the open market to buy power during peak usage. California utilities are having trouble and two of them Edison Intl. (EIX) and P G & E Corp. (PCG) are having problems so stay away from them for now. PCG has declared bankruptcy last week and Edison Intl. (EIX) has said they will not declare bankruptcy for now. We would stay away from any power generators that supply power to any California utilities at this time. For a person needing some income be sure to look into electric utilities for some bargain buying opportunities to take advantage of the high dividend paying utilities. We would buy 5-year and 10-year treasuries for income and some appreciation if interest rates are lowered this year. We recommend 3-6 months Treasuries because they are currently yielding 4.0%. CEI ($24.83) yield has gone down to 8.85% but it is still a buy for its yield and our target is $35. We also like these two reits: CRE ($28.92) yielding 6.43% CarrAmerica Realty is a REIT that focuses primarily on the acquisition, development, ownership and operation of office properties in suburban growth markets in the U.S. Forthe FY ended 12/31/00, revenues rose 8% to $558M. Net income from continuing operation fell 3% to $147.2M. Revenues reflect the development of properties being placed in service and higher occupany rate for store properties. Earnings were offset by a lower gain on the sale of assets. CRE and SPG ($27.75) yielding 7.63% Simon Property Group, Inc. is a self-administered and self-managed REIT company, primarily engaged in the expansion & development of real estate properties, primarily malls and shopping centers. For the fiscal year ended 12/31/00, revenues rose 7% to $2.02B. Net income before extra item & acct. change, applic. to Common and limited partners rose 14% to $347.4M. Revenues reflect the CPI merger. Net income reflects gains vs. losses on RE sales. SPG
We have another energy stock we like that has some risk but not as much risk as some of the other energy stocks out in the market. The stock is Entergy (ETR). We added ETR ($35.90) to the "A" Portfolio at $38.50 on April 16th, 2001. News on ETR: No new news for ETR. ETR
Stocks for 2001
The new stocks we have added to our charts for 2001 are: INSP; IMNX; ICOS; TQNT; TGEN; SBUX; RSTA; CRXA; COST; WM; ISLD; MCOM; CHKP; EMLX; ITWO; MANU; JNPR; MUSE; VRTS; QLGC; VRTY; ACRT; AREM; CHCS; INRS; PWER; PDII; SNWL; CHEZ; KO; CORV; GPS; GSPN; MDT; MRCY; AMCC; VTSS; XLNX; BKE; MYGN; CHIR; APC; DVN; JNY; MCLD; NBR; PTEN; QQQ; and TXN. We dropped the following stocks: T; EWEB; ROWE; SGAI; PCOR; PCNTF; ICY; AND LU. You will notice there we be more sections in the charts section of the website. We still will have sections called 12 month, Like, and Tracking. With new sections for Beaten up stocks from 2000, an ADV section for stocks new to our Newsletter, and a section called Dogs of the Dow. Dogs of the Dow are five stocks chosen from the Dow Jones Average of 30 stocks that has shown to beat the market over the past few years.
Some the company's reports written about Stocks 2001 in the newsletter are here Stock Picks 2001
With the Market being so volatile, a trader should have some close mental stops in the stocks they buy. We suggest a mental stop of 30% is used where appropriate.
Readers will notice all our stocks we follow are on a separate page and we will list prices to purchase stocks at and a target price that we feel the stocks have of reaching in 12 months.
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