My Stock Picks
LOW, MDT, MSFT, PFE, XON
[Sorry not into RS or BP yet...trying to understand the charts first]
Lowes Companies (LOW) - Like HD is around its 52 weeks high but has a much
lower P/E. Summer should be their strong season and they should not be affect
by Asia woes except maybe getting cheaper supplies. It has been in a
steady uptrend since the beginning of the year and currently at a double top
$84. Pull back to 81 11/16 on Friday but not enough to cause a reversal and
provided a better entry point. Above bsl (currently $79).
Medtronics (MDT) - producer of cardiac and neurological products such as
cardiac pacemaker, defibrillators and hearts values. Pull back today 1 7/16 but
chart still in tact. Double top formed at $60 and above bsl.
Microsoft Corp (MSFT) - expect that Win98 and NT sales to be good.
Only stock in the 5 that advance on Friday, gaining 3 1/2 pts to 94 11/16.
Added 2 X's (to 94) on the chart and it had already exceeded a double top when
X added at 92.
[For jan's collection - obviously did not influence picking MSFT]
There are three engineers in a car, an electrical engineer, a chemical
engineer, and a Microsoft engineer. Suddenly the car just stops by the
side of the road, and the three engineers look at each other wondering
what could be wrong. The electrical engineer suggests stripping down
the electronics of the car and trying to trace where a fault might
have occurred. The chemical engineer, not knowing much about cars
suggests that maybe the fuel is becoming emulsified and getting
blocked somewhere. Then, the Microsoft engineer, not knowing much
about anything, comes up with a suggestion. "Why don't we close all
the windows, get out, get back in,open the windows again, and maybe
it'll work!?"
Pfizer (PFE) - latest drug viagra has gotten it price up and has a strong
pipeline of drugs. Currently at a double top formation of 114 and would
be very positive if it exceeds 116 (triple top? - hope I got the chart correct)
Resistance in the 114-116 level. Stop out at 102.
[Jan could you post a chart of PFE later some time]
Exxon (XON) - Oil price at a 12 year low and there is a glut of supply.
XON seems to be holding it value compared to drillers. Short term oil price
could firm if OPEC member cutback productions and summer usage increase.
I expect little downside risk. Long term you have got to be positive
on the price of oil.
Has had a major pullback from its the highs ($76 52weeks) in early May to
(early?) June ($68) and reverse up to 71 where it is now. Above its bsl.
John |
