Hello Jerry,
Well it's good of you to post your weekly newsletter a week after it's hot of the press so folks can see what you're doing and they can also learn a bit. You lay it out so all can see!
A few notes from Friday and the week:
For the shortened four day weekly period ending 2/22/02, the nine Spdr Sectors, [XLB-Basic Industries; XLE-Energy; XLF-Financial; XLI-Industrial; XLK-Technology; XLP-Consumer Staples; XLU-Utilities; XLV-Consumer Services; XLY-Cyclical/Transportation] ended up as follows:
XLE: +3.64%; XLB: +3.31%, XLV: +2.60%; XLP: +2.42%; XLI: +2.05%; XLY: +1.14%; XLU: +.61%; XLF: +.08% and XLK: -2.85%.
Weekly Energy movers were RDC: +6.77%; EP: +6.69%; DVN: 6.45%; AHC: +5.95% and BR: +5.83%. On Friday, the 28 stocks in this Spdr all advanced.
Weekly Basic Ind movers were LPX: +15.77%; HPC: 9.36%; AA: +7.23%; PPG: +5.88% and PTV: +4.5%. Friday’s action had 28 gainers and 9 losers.
Weekly Consumer Services were CMCSK: +7.08%; MDP: +5.22%; HCA: +4.43; MHP: +4.27% and CCU: +4.11%. Friday’s action had 27 gainers and 17 losers.
Of the following 24 stocks (AFFX, BRCD, BRCM, CCMP, CHKP, CYMI, EBAY, EMLX, GENZ, GILD, GNSS, IDPH, IVGN, MYGN, NVDA, PTEN, QCOM, QLGC, SEBL, SEPR, SII, SLB AND VRSN) 6 are above their 20 DMA, 5 above their 50 DMA and 8 above their 200 DMA. There were 14 gainers and 9 losers. GENZ crossed and closed above its 20 DMA.
Weekly movers were IDPH: +10.8%; SII: +6.5%; PTEN: +4.11%; SLB: +4.1% and GILD: +3.07%. Weekly downward movers were QCOM: -12.38%; SEBL: -9.28%; NVDA: -6.78%; MYGN: -6.26% and CYMI: -5.3%.
Friday’s best were PTEN: +4.63%; QLGC: +3.56%; VRSN: +3.48%; CHKP: +3.46%; SLB: +3.45%. Friday’s hardest hit were NVDA: -4.91%; EBAY: -3.3%; SEBL: -2.79% and BRCD: -2.44%.
For those who have a high risk tolerance, a good paying utility dividend is Puget Energy up in the Northwest. They are getting heat from their legislature and utilities commission (that regulates their charges). They have applied for a rate increase and many are demanding that they reduce their dividend. Puget's fighting hard to keep them. So -- who knows<g>. The stock does have a history of bouncing between 18 and 28 over many years. Current dividend is 8.8%
stockcharts.com[PA][DA][F!3!.5!]&pref=G
It's price objective is 32 but that is clearly not likely. A 26 to 27 is not out of the question though. I like to be paid while I wait. Friday's candle is strong and near a low. For fun and paper trading purposes only a buy at 21.05, stop at 19.75 has a R/R of 5.95/1.3 or 4.5/1
Take care,
Eric |
