Friday Morning, August 24th

   SITE NEWS

New IceMD Recording:

An Introduction to Chinese Medicine;

**IMPORTANT** The Charts associated with the Technical Analysis Conference Call to be held tomorrow will be posted this morning by 9:30 AM ET at the foot of the Ice Man Commentary Page. BE SURE to come back and retrieve these charts for the call.

Technical Analysis Seminar:

There is a special training that deals with MACD, On-Balance Volume and Stochastics being taught by Steve Nelson. It is a totally free conference on Saturday at 6:55 AM California Time (9:55 AM New York Time), and lasts for about one hour. Steve has a masters degree in Finance, and is an excellent technician who follows Fibonnacci, Point and Figure, and various forms of technical analysis. He will be teaching the course, and various charts will be sent out. If anyone has questions they can send an email to the Ice Man at iceman081@hotmail.com. The call is free, and you can record it over the phone for your reference if you have a tape recorder. The phone number is 866-305-2467, and the Access Code is 155702. The course is completely free of charge - Don't miss it!

   Dow Stock News

Home Depot (HD) is close to accepting about $1.2 billion less for the sale of its wholesale distribution business to three private equity firms, The Wall Street Journal reported on Thursday. – Reuters

   Ice Man Stocks

Regular Trades the Ice Man may consider:

BRCD - 7
MDT - 54.20

Depressed stocks the Ice Man may buy:

RIMM - 78 is 1/3 Retracement

Extended Shorts:

DO
TEO - 27
BRP - 71.30 G

Dollar Man Ideas:

KONG - 4.10
SHRP - 5.20
NFLD - 1.70

   Media Commentators

Cramer's Comments:

Bullish: AYR, GLS, EMC, BA, COP, TEX, CAT, XTO, APD

   Ice Cold Commentators

Break Man Video Summary:

Break out buy (or short sell) watch list for short term gains  August 24 includes:  PDFS, ONNN, TLT, DEPO, ASGN, STX, FFIV, MNST, BZH.
Several candidates for break out or short sell  plays for at least short term gains by buying the break out (or selling the break down) on good volume and closing at least some on the  first day.

Swing Man Conference Call:

The Swing Man will be teaching a Free Educational Seminar Saturday at 6:55 am California Time.  

   CNBC Fast Money Review

Word on the Street:

Carter: the bottom is in for the year and commodieites are attractive and will lead again

Najarian: there is great volatility in commodity stocks but that´s not all bad

Macke: commodity stocks were wildly over owned before and the trade is over crowded

GPS:

Macke: Sell the Gap

Carter: I like TJX

Gold:

Carter: there is a large divergence between Gold bullion and Gold stocks, so I would buy the stocks here and you could even short the metal

Sponge Bob Toxic pants:

Another toy recall from China:

Macke: either MAT is a buy down here or we are in for a dark Christmas

NAJ: China has a problem with doggy treats at Wal-Mart and the list keeps growing

Macy´s marketing campaign using Trump and Stewart:

Macke: BAD promotional idea

The Top Three:

1.  Is the bottom in?

Carter:  The range in the market is set for the rest of the year.  Normally if you are going to retest you need to do it right away.  So every day that passes makes it more likely we do not retest.

Adami: The turn around day last week was very powerful and could have put the bottom in

Najarian: we may retest

Macke: were going lower

2.Is Energy a buy here?

Adami: YES, the global story is not over and I like HOC, and XOM around $80

Najarian: I like the Oil Service sector: BHI, SLB, HAL, OIH

Carter: I agree with Najarian

3.Older people are having sex, what´s the play?

There was a story in the journal of medicine that people in their 70´s and 80´s are still having sex.

Najarian: LLY (cialis), PFE (Viagara), GSK (Levitra); my top pick is LLY

Adami: my play is ZMH because these people will need new hips

Battle of the Band stocks:

LYV has dropped their agreement with Ticketmaster (IACI).  They are sick of just getting a small commission while Ticketmaster gets all the revenue.  They are looking to move onto Ticketmaster´s turf and increase their margins.

Face 2 Face:

Brazil in focus tonight.  An analyst from Brazil said what is encouraging about the future in Brazil is a new Government focused on keeping debt and inflation low as well as the emergence of the local consumer to help increase GDP without having to export more or at least in addition to exporting more.  You can track this by looking at the GDP net of exports number.

Are you a buyer of Brazil and the EWZ

Najarian: on hold due to big put buying recently

Macke: Get Out

Adami: Buy

Carter: Buy, came down with the other emerging markets and is poised for a bounce

What is your take on the financials?

Najarian: I see people coming in by buying a married put.  A married put is where you buy the stock, a put 2-4 months out, and then sell a call to pay for the put.  It is bullish and used when someone wants to set a position but are not sure the downside is over.

Carter: Financials will be the most leading indicator of all and he believes we are heading for a recession.

Final Trade:

Carter: GM is a short

Macke: ATVI is a Buy

Adami: DELL is a buy on how it acted after bad news

Najarian: LLY is a Buy.

   News and Events Digest

Breaking News

Acacia Research Corporation (ACTG) announced today that Disc Link Corporation, a wholly owned subsidiary of the Acacia Technologies group, has entered into a non-exclusive license covering U.S. Patent No. 6,314,574 and other patents with SAP America, Inc., a Delaware corporation, and SAP AG, a German corporation.

Media Summary:

According to Reuters, several Asian banks disclosed that they had exposure to US sub-prime mortgages.

Reuters writes that Monster (MNST) took five days to disclose the theft of personal data on 1.3 million job seekers.

The Wall Street Journal writes that shares of NYSE Euronext (NYX) are off 23% this year despite record trading volume.

The Wall Street Journal writes that a court cleared the Whole Foods (WFMI) deal to buy Wild Oats (OATS).

The New York Times writes that earnings at Gap (GPS) rose on cost cutting.

The FT says that the head of Ford (F) called on the government to do more to stimulate economic growth, a sign that current conditions are hurting car makers.

IPO Central:

IPO News:

Precision Therapeutics Inc. on Friday filed an initial public offering with the Securities and Exchange Commission to sell up to $80.5 million in common stock. Details about the number of shares offered and estimated price range for the IPO weren't disclosed in Friday's SEC filing. The Pittsburgh, Pa.-based life sciences company said it plans to use net proceeds from the IPO to expand its sales and marketing capabilities, to fund research and development programs and clinical studies and for other general corporate purposes, including working capital and capital expenditures. JPMorgan, Piper Jaffray and JMP Securities were listed as underwriters for the offering. Precision Therapeutics is developing and commercializing tests intended to assist physicians in individualizing cancer therapy in an effort to improve treatment outcomes. For the six months ended June 30, Precision reported a net loss of $5.6 million, widening from a loss of $3.5 million in the 2006 comparable period. The company said it plans to list its shares on the Nasdaq Global Market, but didn't disclose a proposed trading symbol. The $80.5 million valuation for the IPO was estimated solely for calculating the registration fee, the filing said. Often, the eventual price terms of an IPO offer differ substantially from the valuation in the first registration. – MarketWatch

Economic Data:

8:30 Durable Orders

10:00 New Home Sales

   Upgrades and Downgrades by Sector:

Computer Hardware
 BRCD Brocade JMP Securities Upgraded from Mkt Perform to Mkt Outper $8.50
 BCSI Blue Coat Needham & Co Initiated at Buy $90
 MOLX Molex Jefferies & Co Initiated at Hold $25
 TEL Tyco Electronics Jefferies & Co Initiated at Hold $35.75
 SNIC Sonic Solutions Soleil Downgraded from Buy to Hold
 BRCD Brocade RBC Capital Mkts Cut Price Target Sector Perform $9 to $8
 SNIC Sonic Solutions SMH Capital Cut Price Target Buy $16 to $13
 SNIC Sonic Solutions Roth Capital Cut Price Target Hold $17 to $14

Computer Services
 CSGP CoStar Group Needham & Co Initiated at Buy $65

Computer Software
 MENT Mentor Graphics Merrill Lynch Upgraded from Neutral to Buy
 IPAS iPass Merriman Curhan Ford Coverage Dropped

Educational Services
 APOL Apollo Group Sun Trust Rbsn Hum Upgraded from Neutral to Buy $72

Finance Companies
 ACF Goldman Sachs Downgraded to Sell
 CCRT CompuCredit Sun Trust Rbsn Hum Downgraded from Buy to Neutral

Foods
 HRL Hormel Foods Stifel Nicolaus Upgraded from Hold to Buy $42

Gaming Operations
 MPEL Melco PBL Entertainment Deutsche Securities Initiated at Buy $16

Healthcare
 BRL Barr Pharma Matrix Research Upgraded from Hold to Buy
 BITI Bio-Imaging Technologies Roth Capital Initiated at Buy $9
 EYE Advanced Medical Optics Jefferies & Co Upgraded from Underperform to Hold $29
 SMBI Symbion Stifel Nicolaus Coverage Dropped

Household Goods
 LYTS LSI Industries Needham & Co Price Target Raised Buy $22 to $23

Major Pharmaceutical
 PHRM Pharmion Banc of America Sec Initiated at Buy $59

Manufacturing
 APH Amphenol Jefferies & Co Initiated at Buy $41

Mining - Steel & Iron
 MT Merrill Lynch Upgraded to Buy
 NUE Merrill Lynch Upgraded to Buy
 STLD Merrill Lynch Upgraded to Buy
 AKS AK Steel Credit Suisse Initiated at Neutral $42

Multi-National Banks
 TD Toronto-Dominion Bank RBC Capital Mkts Price Target Raised Outperform $81 to $83

Retail Trade
 KR HSBC Upgraded to Neutral
 BKE The Buckle Stanford Research Upgraded from Sell to Hold $35
 GME Gamestop First Albany Upgraded from Buy to Strong Buy $50 to $60
 TWB Tween Brands Matrix Research Upgraded from Sell to Buy
 ARO Aeropostale CIBC Wrld Mkts Price Target Raised Sector Outperform $34.67 to $35
 FL Foot Locker JP Morgan Downgraded from Overweight to Neutral
 GCO Genesco Susquehanna Financial Downgraded from Positive to Neutral
 ARO Aeropostale Caris & Company Cut Price Target Above Average $30 to $26
 ARO Aeropostale Nollenberger Capital Cut Price Target Buy $32.67 to $29
 BEBE bebe stores Nollenberger Capital Cut Price Target Buy $21 to $19
 BEBE bebe stores Friedman Billings Cut Price Target Mkt Perform $15 to $14
 HIBB Hibbett Sporting Friedman Billings Cut Price Target Outperform $30 to $29
 PSUN Pacific Sunwear Caris & Company Cut Price Target Below Average $13 to $12
 PSUN Pacific Sunwear Nollenberger Capital Cut Price Target Neutral $15 to $14
 PSUN Pacific Sunwear Friedman Billings Cut Price Target Outperform $23 to $21
 SSI Stage Stores First Albany Cut Price Target Buy $20 to $19
 SMRT Stein Mart Morgan Joseph Coverage Dropped

Semiconductors
 RFMD Morgan Stanley Upgraded to Equal Weight
 VSEA Varian Semi Stifel Nicolaus Price Target Raised Buy $54 to $57
 LTXX LTX Corp Friedman Billings Downgraded from Outperform to Mkt Perform $7 to $4.50
 MRVL Marvell Needham & Co Cut Price Target Buy $21 to $19
 VIMC Vimicro Roth Capital Cut Price Target Hold $6 to $5
 GNSS Genesis Microchip Merriman Curhan Ford Coverage Dropped
 LDIS Leadis Tech Merriman Curhan Ford Coverage Dropped
 OVTI OmniVision Merriman Curhan Ford Coverage Dropped
 PXLW Pixelworks Merriman Curhan Ford Coverage Dropped
 TRID Trident Microsystems Merriman Curhan Ford Coverage Dropped

Telecommunications
 PLT Plantronics JMP Securities Upgraded from Mkt Perform to Mkt Outperform $33
 CCBL C-COR.net Friedman Billings Cut Price Target Outperform $18 to $16
 DOC Digital Angel Merriman Curhan Ford Coverage Dropped
 NVTL Novatel Wireless Merriman Curhan Ford Coverage Dropped