Wednesday Morning, November 7th
SITE NEWS
New IceMD Recording:
Studies Endorse 'Virtual Colonoscopy'
Hidden Treasure News:
Very Good News:
Lucas Energy Announces High Initial Production Rate at Hagen Ranch No.3 Well
First of Ten Well Drilling Program Proves Huge Success
HOUSTON, TEXAS – November 6, 2007 - Lucas Energy, Inc. (LUCE), a U.S. based independent oil and gas company, is pleased to announce an initial production rate for the Hagen Ranch No. 3 well, southwest of Gonzales, Texas.
The initial production rate from the Hagen well showed 163 BOPD and no water, considerably increasing Lucas´ total daily production revenue. This is the first new lateral of the fiscal 2008 drilling program previously announced on Aug 30, 2007, and has proven highly successful. The program consists of an aggressive twelve month, ten well drilling program focused on substantially increasing production from its portfolio of over thirty properties.
The management of Lucas Energy continues to show their ability to successfully increase production and reserves. The initial potential of the Hagen Ranch No.3 well is 63% higher than the forecast in the Forest Garb & Associates report dated March 31, 2007.
The Hagen Ranch No.3 well was acquired in 2006 and is positioned on a 1330 acre lease which has room for at least two additional wells.
James Cerna Jr., CEO of Lucas Energy Inc. commented “We are very pleased with the initial production from this well. The success of our first new lateral of the 2008 drilling program is an important step in building out our production from current assets of Lucas Energy.’
About Lucas Energy, Inc.
Lucas Energy, Inc. (OTCBB:LUCE) is an independent crude oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying underperforming oil and gas assets, which are revitalized through a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its reserve base and cash flow while significantly reducing the risk of traditional exploration projects. The Company's headquarters are located at 3000 Richmond Avenue, Suite 400, Houston, Texas 77098.
Dow Stock News
GM said it will book a $39 billion third-quarter noncash charge from a write-down tied to tax credits it would have used in the event it was profitable. - WSJ
Bloomberg writes that credit-default swaps on bonds of Citigroup (C)., Wachovia (WB). and Morgan Stanley are trading at the highest in at least five years on speculation the nation's biggest banks may be forced to write down more subprime assets.
The Wall Street Journal writes that AT&T (T) has cut forecasts of how fast it can roll out its fiber U-Verse service to compete with cable.
Reuters writes that the CEO of Walmart.com (WMT) expects strong holiday sales.
Reuters writes that GM (GM) will take a $39 billion non-cash charge in Q3
Ice Man Stocks
Breakouts the Ice Man may consider trading:
STT - 80
IDXX - 125 W, 125.70 Breakout
AMSG -27.05
WMS - 36
DST - 88
FSIN - 17.34
IIVI - 36.60
SYNA - 61.75
ATU - 70
CRZO - 52
TSCM - 14.90
EMKR - 11
MCD - 60
FCEL - 10.50
Regular Trades the Ice Man may consider:
KUN - 8 = 9 Gap
RCH - 10.30 Bid
FIRE - 10.40
NT - 21.74 Upside Gap
KNSY - 28.50
SMDI - 16.80
TAM - 30
CAT - 75
GRS - 12
Depressed stocks the Ice Man may buy:
UAUA - 42.20
CTSH - Below 30
Extended Shorts:
GFIG - 100/102
Dollar Man Ideas:
VIV - 6.10
PLUG - 3.60
LAB - 5.65
SNTS - 2.60 * Best Bet
ANO - 5.65
THC - 4
AZK - 4.60
PGIC - 5
Media Commentators
Cramer's Comments:
Bullish: SGR, FWLT, BWA, WFR, TTEK, WFC
Ice Cold Commentators
Break Man Video Summary:
Break out buy (or short sell) watch list for short term gains November 7 includes: SONS, VSR, SGMO, NMX, FTO, ANO, GBN, MNEAF.
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 Market Recap:
After holding major support areas Monday, the market follows thru with a nice rally. Stocks gapped up Tuesday morning on some positive tech news as the SPX hit 1511 soon after the opening bell. Then the usual fade the gap pullback occurred as the SPX touched 1499 by 11:00. After this pullback the market took on a positive tone for the remainder of the session as the big cap technology stocks continued to exhibit strength. The SPX closed right near the high for the day at 1521. At the close the SPX/DOW were up 1.0% and the NDX/Nasdaq were up 1.05%. Short term momentum is rising and now slightly overbought. Crude Oil continued is ascent higher gaining $2.75 while Gold jumped another $15.00 during the trading day.
Here´s a look at the internals:
NYSE:
adv- 2,110
dec- 1,188
unch- 97
52 hi- 164
52 lo- 203
Nasdaq:
adv- 1,721
dec- 1,278
unch- 129
52 hi- 88
52 lo- 258
Everything we have discussed for the past several days is still valid. Although the market is displaying some early signs of deteriorating, price on the major indexes has still managed to hold above our highlighted major support areas. For this reason, we have refrained from getting overly bearish too soon. Instead, we have recommended keeping things light in this extremely choppy environment which has been prudent advice. Many traders have incurred trading loses recently due to the constant whipsaws that have taken place over the past couple weeks. There are opportunities on both sides (long and short), but it´s best to buy support and sell resistance versus chasing stocks only to find them reversing the following day. I suggest your have a plan and stay disciplined as we wait for things to resolve themselves.
CNBC Fast Money Review
1. FROM WRITE-OFF TO RIGHT-ON
The headline: Financials Lead Market Reversal After Goldman Sachs Denies Write-Down Speculation
Karen Finerman said there are more write-downs to come, but GS will undoubtedly do a better job managing the risk than anyone else in the space.
Pete Najarian warned to “pick your spots’ in the financial sector. Some are just terrible while others are performing well. It´s important to know that they don´t all move in-line.
2. TECH ATOP THE CHARTS
The headline: GOOG, INTC, CSCO, RIMM, All Hit 52-Week Highs; Tech Stocks Keep Climbing Even as JAVA Plummets, MSFT Pulls Back
Pete Najarian said all the large cap tech names that burst through 52-week highs showed great price action.
3. NEXT STOP: $100 OIL
The headline: Crude Hits Intraday High of $97.10 Before Finishing Up 2.9% to $96.70
Guy Adami says one way to trade record oil is to play the refiners. Investors could buy VLO for its valuation or go with the more expensive TSO, which could be ripe for a takeover now that activist shareholder Kirk Kerkorian has taken a stake.
4. BUCKS, BULLION, BUSTS & BOOMS
The headline: Gold Surges to 27-Year High as Dollar Slides to Fresh Record Low vs. Euro
Karen Finerman says this story has become nearly a daily occurrence. Investors should keep in mind that the move in the U.S. dollar is not nearly as big as the move in crude oil.
5. TIME WARNER JUMPS BEFORE EARNINGS
The headline: TWX Ticks Up Ahead of Earnings as Incoming CEO Jeff Bewkes Names New CFO
Guy Adami says on any metric, Time Warner is cheap.
Karen Finerman is long TWX herself, and Pete Najarian would buy it if former AOL CEO Steven Case steps in, which has been speculated.
6. POPS AND DROPS
ADM popped 7%: Najarian: This is a great opportunity to sell ADM.
CHD popped 9%: Adami: A good stock that just got a little rich. Buy it on a pullback.
NT popped 18%: Najarian: The company looks like it´s taking good advantage of the wireless business.
MA popped 7%: Finerman: It´s already flirting with $200. There´s more upside to go.
JEC popped 5%: Adami: The infrastructure build out story is still there and JEC is a direct play on that.
IMB popped 10% then dropped 2%: Finerman: Investors don´t know what they´re getting and should stay away.
TAP dropped 2%: Macke: The CEO said sales trend will be stronger – a good reason to buy the stock on dips.
CTB dropped 14%: Adami: CRT Capital got it right when it initiated a sell on Oct. 19 with $17 price target.
7. YOUR FIRST MOVE FOR WEDNESDAY
Jeff Macke is a buyer of INTC.
Guy Adami recommends F.
Karen Finerman would short LEH.
Pete Najarian would short MBI.
News and Events Digest
Breaking News
Medical devices manufacturer Insulet Corp. (PODD) on Wednesday priced an offering of around 4.9 million shares at $23.25 each. The group said all the shares are being sold by stockholders and it won't receive any proceeds from the sale by these stockholders. It added it's granted the underwriters an option to purchase up to around 730,000 shares to cover any over-allotment. - MarketWatch
Devon Energy Corp.'s (DVN) third-quarter net income rose 4.3% to $735 million, or $1.63 a share, from $705 million, or $1.57 a share, a year earlier. Earnings for the latest period included items which had the net effect of increasing net earnings by $35 million, or 8 cents a share. Earnings from continuing operations were $644 million. The Oklahoma City energy company said revenue for the period rose 11% to $2.76 billion from $2.5 billion a year ago. On average, analysts polled by Thomson Financial expected earnings of $1.39 a share and revenue of $2.61 billion. Analyst estimates typically exclude items. Oil and gas production from continuing operations rose 10% to 56.8 million barrels of oil equivalent. - MarketWatch
Toyota Motor Corp. said Wednesday second-quarter net profit climbed 11% from a year earlier as a weaker Japanese yen and a line-up of fuel-efficient and redesigned models propelled overseas sales, helping to offset a slump in its domestic business. - MarketWatch
Foster Wheeler Ltd. (FWLT), the Clinton, N.J., engineering, construction and energy group, reported third-quarter net income rose 70% and declared a 2-for-1 stock split. Earnings reached $129.1 million, or $1.78 a share, from $75.8 million, or $1.07, in the year-earlier period. Adjusted to exclude special items, earnings were $1.66 a share versus 77 cents. Revenue rose 43% to $1.13 billion from $910.6 million. The split is conditioned on holders approving a doubling of FWLT's authorized shares. A vote on the matter has been set for Jan. 8. - MarketWatch
Focus Media Holding Limited (FMCN) today announced a follow-on offering of 13,720,873 American depositary shares ("ADSs"), each representing five ordinary shares, at a price to the public of $64.75 per ADS. 5,000,000 of these ADSs will be from new shares issued and sold by Focus Media, and 8,720,873 of these ADSs will be sold by certain shareholders of Focus Media, consisting mainly of the former shareholders of Framedia, Dotad and Allyes. Focus Media will not receive any proceeds from the sale of ADSs by the selling shareholders. In addition, Focus Media has granted to the underwriters an option to purchase, up to an additional 2,000,000 ADSs to cover over-allotments, if any, within 30 days from the date of the prospectus.
Media Summary:
According to Reuters, profits rose 2.7% at Toyota (TM) and the company raised full-year forecasts.
Reuters reports that Nasdaq (NDAQ) will buy the Philadelphia Stock Exchange for $650 million.
Reuters said that the head of the Phildelphia Fed said the rates should not be cut unless the economy is growing much more slowly.
The Wall Street Journal writes that two analysts believe that Morgan Stanley (MS) will have to take a write-down of as much as $6 billion in the next quarter.
The Wall Street Journal writes that the Fitch downgrades of corporate bonds is rising.
The Wall Street Journal writes that Sony Ericsson plans its own digital music store for its handset customers.
The New York Times writes that there are now nearly 100 billionaires in China.
The FT writes that the risk of a mortgage-backed securites fire sale is mounting.
The FT writes that oil traded over $98 in London.
The FT reports that the dollar value of failed buy-outs hit $200 billion this year, double the number last year.
Barron's writes that Blue Nile (NILE) earnings drove the stock higher.
M&A Activity:
Nasdaq Stock Market Inc. (NDAQ) Wednesday said it's in a deal to acquire the Philadelphia Stock Exchange for $652 million in cash. The transaction is expected to close in the first quarter of 2008, subject to customary approvals, and is forecast to become accretive to Nasdaq's 2009 earnings. In addition to the Philadelphia Stock Exchange's options market, Nasdaq will acquire a futures market operated by the Philadelphia Board of Trade, an equities business and the Stock Clearing Corp. of Philadelphia, according to a press release. The two exchanges have scheduled conference calls for later Wednesday morning to discuss the deal. - Marketwatch
Wednesday Split Review:
recent stock split announcements:
On November 5, Tsakos Energy Navigation Limited (NYSE:TNP) announced that its board of directors approved a 2:1 stock split to be distributed after the close on November 14, 2007.
On November 6, LKQ Corporation (Nasdaq:LKQX) announced that its board of directors approved a 2:1 stock split to be effective on December 4, 2007.
Companies that have previously announced stock splits which become effective in the next several trading days.
Ex-Date Split Symbol Company
11/9 2:1 ATU Actuant Corporation
11/15 4:3 MPR Met-Pro Corporation
11/15 2:1 TNP Tsakos Energy Navigation Limited
11/16 2:1 CRS Carpenter Technology Corp.
11/19 4:1 APAGF Apco Argentina, Inc.
11/20 2:1 D Dominion Resources, Inc.
Economic Data:
8:30 Productivity
10:00 Wholesale Inventories
2:00 Consumer Credit
Upgrades and Downgrades by Sector:
Aerospace
NOC Northrop Grumman UBS Upgraded from Neutral to Buy
ISSC Innovative Solutions Boenning & Scattergood Downgraded from Market Outperform to Market Perform
Airlines - Passenger
UAUA SOLE Initiated at Buy $75
Apparel
GES Guess Caris & Company Price Target Raised Average $53 to $54
Audio-Video Equipmnt
EMR Emerson Friedman Billings Price Target Raised Mkt Perform $52 to $53
Beverages
JMBA Jamba Rochdale Securities Downgraded from Buy to Hold $10 to $5
Biotech
MNTA Momenta Pharma Deutsche Securities Downgraded from Buy to Hold
MNTA Momenta Pharma Rodman & Renshaw Downgraded from Mkt Outperform to Mkt Perform
ANIK Anika Therapeutics, Inc. Nollenberger Capital Cut Price Target Buy $23 to $18
Bond Funds
IMB IndyMac Banc Friedman Billings Downgraded from Mkt Perform to Underperform $22 to $7
Broadcasting
MCCC Mediacom Comm Citigroup Upgraded from Hold to Buy
RRST RRSAT Global Susquehanna Financial Initiated at Positive
Brokerage Services
ESPD eSpeed Sandler O'Neill Upgraded from Hold to Buy
Business Services
JRJC China Finance Online Brean Murray Upgraded from Hold to Buy $50
WSTM Workstream Roth Capital Upgraded from Hold to Buy $1.25
IPG Interpublic Banc of America Sec Downgraded from Buy to Neutral
OMC Omnicom Banc of America Sec Downgraded from Buy to Sell
PSPT PeopleSupport Friedman Billings Downgraded from Outperform to Mkt Perform $15
LIOX Lionbridge Tech Friedman Billings Cut Price Target Mkt Perform $5.50 to $4
Chemicals
HPC Hercules Bear Stearns Upgraded from Peer Perform to Outperform
Computer Hardware
HTCH Hutchinson Caris & Company Upgraded from Below Average to Average $20 to $25
JAVA Sun Microsystems Bernstein Upgraded from Underperform to Mkt Perform
Computer Peripherals
APKT Acme Packet Cantor Fitzgerald Price Target Raised Buy $17 to $18
QSGI QSGI Rodman & Renshaw Cut Price Target Mkt Outperform $1.40 to $0.85
Computer Services
INAP InterNAP Roth Capital Price Target Raised Buy $19 to $20
Computer Software
CTSH Jeffries Says to Buy
CTSH JMP Removed from Focus List buy Maintain Overweight
BMC BMC Software CIBC Wrld Mkts Price Target Raised Sector Outperform $38 to $40
WSPI Website Pros Friedman Billings Price Target Raised Outperform $13 to $15
CTSH Cognizant Tech Stifel Nicolaus Cut Price Target Buy $53 to $48
EMAG Emageon Friedman Billings Cut Price Target Mkt Perform $9.50 to $6
Construction
JEC Jacobs Friedman Billings Price Target Raised Mkt Perform $62 to $90
MTZ MasTec Friedman Billings Cut Price Target Outperform $16 to $15
Educational Services
CECO Career Education BMO Capital Markets Upgraded from Market Perform to Outperform
Electronics
VRAZ Veraz Networks Jefferies & Co Downgraded from Buy to Hold $8 to $6.50
Environmental Prod
RSG Republic Services Friedman Billings Price Target Raised Mkt Perform $34 to $37
Finance Companies
LULU Lululemon Athletica UBS Upgraded from Sell to Neutral
UBS UBS AG JP Morgan Upgraded from Neutral to Overweight
COF Capital One Keefe Bruyette Downgraded from Outperform to Mkt Perform
COF Capital One Friedman Billings Cut Price Target Mkt Perform $75 to $55
CSE CapitalSource Friedman Billings Cut Price Target Mkt Perform $20 to $18
Foods
ADM Archer-Daniels Credit Suisse Upgraded from Underperform to Neutral
PFGC Performance Food Wachovia Upgraded from Mkt Perform to Outperform
SYY Sysco JP Morgan Upgraded from Neutral to Overweight
CPB Campbell Soup Banc of America Sec Downgraded from Buy to Neutral
IBAS iBasis Jefferies & Co Downgraded from Buy to Hold $8.50
PFGC Performance Food JP Morgan Downgraded from Overweight to Underweight
Gaming Operations
PNK Pinnacle Morgan Joseph Price Target Raised Buy $36 to $40
Healthcare
CGPI CollaGenex Pharm Jefferies & Co Downgraded from Buy to Hold $13 to $10.50
CYTO Cytogen Rodman & Renshaw Downgraded from Mkt Outperform to Mkt Perform
ARRY Array Biopharma Collins Stewart Cut Price Target Buy $20 to $17
CGPI CollaGenex Pharm Roth Capital Cut Price Target Buy $14 to $13
Healthcare Equipment
ROCM Rochester Medical Northland Securities Upgraded from Market Perform to Outperform $16 to $19
HOLX Jeffries Says Use Weakness to Buy
IMMC Immunicon Caris & Company Downgraded from Above Average to Average $1
HEM HemoSense Roth Capital Coverage Dropped
Healthcare Facilities
NOVA Novamed Dougherty & Company Cut Price Target Buy $9 to $7
Healthcare Services
RDNT RadNet Morgan Keegan Initiated at Outperform
Insurance
ALL Citigroup Upgraded to Buy
AGO Assured Guaranty JP Morgan Upgraded from Underweight to Neutral
ALL Allstate Citigroup Upgraded from Hold to Buy
HMN Horace Mann Banc of America Sec Upgraded from Neutral to Buy
UNH UnitedHealth UBS Upgraded from Neutral to Buy
Manufacturing
DHR Danaher Bear Stearns Upgraded from Peer Perform to Outperform
Mfg-Chinese Medicine
TCM Tongjitang Chinese Medic CIBC Wrld Mkts Downgraded from Sector Outperform to Sector Perform $13
Motion Pictures
MVSN Macrovision Needham & Co Cut Price Target Buy $34 to $30
Motor Vehicles
MGA Magna RBC Capital Mkts Downgraded from Outperform to Sector Perform
Multi-National Banks
MI Marshall & Ilsley JP Morgan Upgraded from Underweight to Neutral
Oil and Gas
DK Delek US Holdings HSBC Securities Upgraded from Underweight to Neutral $22 to $24
TRMA Trico Marine Services Jefferies & Co Upgraded from Hold to Buy $40 to $46
KWK Jeffries Sees Buying Opportunity here
APC Anadarko Petro Friedman Billings Price Target Raised Outperform $70 to $75
KWK Quicksilver Resrcs Calyon Securities Price Target Raised Buy $60 to $68
FST Forest Oil Jefferies & Co Downgraded from Buy to Hold $47 to $55
KWK Quicksilver Resrcs BMO Capital Markets Downgraded from Outperform to Market Perform
PTR PetroChina Credit Suisse Downgraded from Neutral to Underperform
Publishing
TSCM TheStreet.com Needham & Co Price Target Raised Strong Buy $15 to $16
Regional Banks
WB Wachovia Sandler O'Neill Downgraded from Buy to Hold $45
REITs
CPT Camden Property Credit Suisse Upgraded from Neutral to Outperform
UDR United Dominion Keefe Bruyette Upgraded from Mkt Perform to Outperform
AVB AvalonBay Keefe Bruyette Downgraded from Outperform to Mkt Perform
CBL CBL & Assoc JP Morgan Downgraded from Overweight to Neutral
PPS Post Properties Keefe Bruyette Downgraded from Mkt Perform to Underperform
HRP HRPT Properties Cantor Fitzgerald Cut Price Target Buy $14.50 to $12
Retail Trade
CBK Christopher & Banks Sun Trust Rbsn Humphrey Upgraded from Neutral to Buy
MSO Martha Stewart Morgan Joseph Upgraded from Hold to Buy $16.50
ABH AbitibiBowater UBS Price Target Raised Buy $29 to $37
NILE Smith Barney Negative Comments
CHIC Charlotte Russe Friedman Billings Downgraded from Outperform to Mkt Perform $18 to $15
DLIA Delia*s Rochdale Securities Downgraded from Buy to Hold $14 to $4
LOW Goldman Sachs Downgraded
Semiconductors
SPIL Siliconware Precision HSBC Securities Upgraded from Neutral to Overweight
MPWR Monolithic Power Nollenberger Capital Initiated at Buy $26
NEXT Nextest Systems Stifel Nicolaus Initiated at Buy $16
TXN Texas Instruments Nollenberger Capital Initiated at Buy $40
VLTR Volterra Semi Nollenberger Capital Initiated at Buy $15
CMOS Credence Citigroup Downgraded from Hold to Sell
Solar Energy
STP Suntech Power Banc of America Sec Price Target Raised Neutral $40 to $55
JASO JA Solar Banc of America Sec Initiated at Buy $74
TSL Trina Solar Banc of America Sec Initiated at Buy $76
CSUN China Sunergy Banc of America Sec Initiated at Sell $6
Tech - Satellites
GEOY GeoEye Dougherty & Company Price Target Raised Buy $40 to $45
Telecommunications
AUDC Audiocodes Susquehanna Financial Upgraded from Neutral to Positive
NT Merriman Reiterates Buy
RIMM Research In Motion RBC Capital Mkts Price Target Raised Outperform $120 to $180
SIRF SiRF Technology RBC Capital Mkts Downgraded from Outperform to Sector Perform $28
TSP Telesp Part Adr JP Morgan Downgraded from Neutral to Underweight
AV Avaya Kaufman Bros Coverage Dropped
Transportation
QMAR Quintana Maritime Oppenheimer Upgraded from Sell to Neutral
EXPD Expeditors Intl Robert W. Baird Downgraded from Outperform to Neutral $53 to $55
Ideas from other sites:
Cabot China & Emerging Markets Report Special Hotline - November 6, 2007
There's nothing like a quick ice-water pullback to get you focused on the market, and China handed us a good one on Monday. China Mobile (CHL) took an 11.2% hit; China Security (CSR) dropped 9.8%; Chalco (ACH) stumbled 9.1%; and China Life (LFC), e-House (EJ) and Mindray (MR) all scrubbed off more than 7%. Baidu (BIDU) was the only stock in the China/EM portfolio to register a gain.
There were two main reasons for this widespread sell-off. First, PetroChina, which may be the largest oil company on earth based on market capitalization, came public on the Shanghai Exchange. PetroChina is huge, very profitable and very liquid. As such, it instantly became the darling of the Chinese mutual funds. The preference for the Shanghai shares (N-shares) caused the company's Hong Kong shares (H-shares) to drop 10% as investment money sloshed back to the Mainland.
PetroChina N-share sales also siphoned off investment capital from other Chinese large-caps like China Mobile, CNOOC, and China Petroleum, as investors sold them to switch to buy Shanghai shares.
The second reason for the sell-off was a decision by China's Premier Wen Jiabao to put the brakes on proposed changes that would allow Mainland investors to buy Hong Kong-listed H-shares of Mainland companies. Hong Kong shares had been rising in expectation of this anticipated wave of cash seeking H-shares of listed companies that are more-reasonably priced than their N-share counterparts.
Today's action stopped some of the bleeding and pushed all but two of the stocks in the portfolio up as of a half hour before the market close. This may not be the end of this correction, but it gives us a little breathing room.
We don't like to make portfolio decisions based on exceptional market movements. Two of the portfolio's holdings - Buenaventura (BVN) and Companhia Siderurgic (SID) - were sold right at the nadir of the mid-August correction, and they have both soared since then. Distinguishing the difference between a steep correction and the start of a death spiral is the hardest thing in investing. You have to protect your capital, but you don't want to be shaken out of a good stock by a temporary pullback. It's an art, not a science.
We'll be back to you on Thursday with the regularly-scheduled China/EM Update. And, of course, if things go badly sour before then, I'll have another Special Hotline. Until then, we're keeping the ratings of our stocks unchanged, although you should hold off on heavy buying until the market definitely declares its intentions. Keep your eyes on the charts.
Good luck to all of us.