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Strategies & Market Trends : P&F Research

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To: Ms. X who wrote (119)	6/18/1998 10:28:00 AM
From: Bwe	of 389

My Stock Picks: $20,000 Dorsey's (in the master's honor) for each of my 5 stock picks: Tyco International (TYC): Zacks Rank: 1 (Strong Buy) TYC has been in a strong uptrend since the December '91 low of $7. The stock is on a Buy (B57 5/98) and gave a confirming spread Quad Top confirming buy at $58 yesterday. RS B+ (buy/trend up) and it's been all X's on the RS chart since '93. Very strong RS. Price Objective (p.o.) is $67. Bullish Resistance Line (brl) from 8/90 is upper trend of trading range at $66. Bullish Support Line (BSL) at $37. 10 wk MA: $54.14 30 wk MA: $48.76 Cliffs Drilling (CDG): Zacks Rank 2 (Buy) CDG is a big loser on the year down 27% YTD. Currently in a "long tail down" formation with 21 straight boxes of O's and awaiting first 3 box reversal. Bearish Support Line (bsl) at $32 offers minor support. CDG has bottomed out 3 times in the last year in this price range. Oil Service Group oversold at 24%. Chartcraft still has the stock as RS B- (Buy/trend down). P&F chart couldn't look worse breaking every support on the way down as it tracked plunge in crude. One of the reasons I like the stock. Pfizer (PFE): Zacks Rank 3 (Hold) PFE's products and fundamental story are well known. A move to $116 would put the stock in a very positive "Bearish Signal Reversed" pattern and would give a double top buy. Bullish RS (B+) and all X's since '94. 10 wk MA: $108.61. bsl at $100. Move to $114 also breaks Bearish Resistance Line (BRL) from April $118 high. Field position of Drug group at Bear Confirmed 38% lessens downside risk as I see it. Better than Bear Confirmed at 50%. K Mart (KM): Zacks Rank 1 (Strong Buy) Turnaround in place at KM. Stock is on RS Buy Alert (one box away from giving RS Buy) in a column of X's. Double Top buy at $14 1/2 3/98 and confirming buy at $19 1/2 in late May. P.O. $36 so plenty of upside room to move. brl near upside p.o. at $35. BSL at $11 1/2. bsl at $15 offers minor support. 10 wk MA: $18.61 30 wk MA: $14.84. Retailing group in Bear Alert status but KM not expensive and what sector isn't weak? KM has done great this year and the trend is your friend. Golden West Financial (GDW): Zacks Rank 1 (Strong Buy) Interest rate and eps upward revision play. RS B+ from 9/97. 10 wk MA: $104.98 30 wk MA: $95.94. On Double Top buy from late May at $114, but original buy signal from 2/98 at $89. BRL from 3/97 now at $130 and that provides the upper end of the trading range. BSL at $93. bsl at $98. Has pulled back to an attractive buying range. Zacks Z-100 portfolio stock added in April. Sector risk is troubling with Banks Bear Confirmed at 62%. Domestic operations avoids Asian contagion. There you have it. Best of luck to all and many thanks to Jan and Preston for their time and effort in running this fun learning experience. Bruce

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