Schaeffer's Upon Further Review Highlights the Following Stocks: Circuit City Stores, Monster Worldwide, Pozen, and Procter & Gamble.CINCINNATI -- Today's "Upon Further Review" from Schaeffer's Investment Research focuses on Circuit City Stores (NYSE NYSE See: New York Stock Exchange :CC), Monster Worldwide Monster Worldwide NASDAQ: MNST is the parent company for Monster.com; it also owns other well-known websites such as Military.com, Tickle.com and Fastweb.com. Company Overview (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MNST MNST Maximum Network System Throughput ), Pozen (NASDAQ:POZN), and Procter & Gamble (NYSE:PG). "Upon Further Review" is a report that analyzes newsworthy stocks that are generating a lot of attention on Wall Street. "Upon Further Review" is published on www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. Take advantage of the timely Schaeffer commentaries by signing up for their free e-newsletters -- Opening View, Market Recap, and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day. http://www.schaeffersresearch.com/redirect.aspx?CODE=PRSC PRSC Partido Reformista Social Cristiano (Spanish: Social Christian Reformist Party) PRSC Post-Removal Site Control PRSC Program Resources Steering Council 12M&PAGE=1 . Upon Further Review: Circuit City Stores: This morning, Circuit City Stores (NYSE:CC) reported earnings that beat the Street estimate. The positive news helped to temporarily lift the shares, but the stock has since pulled back with the rest of the market. From a technical perspective, the equity remain have been in a sideways channel between 28 and 31 since April 20. This narrow trading range Trading Range The spread between the high and low prices traded during a period of time. Notes: When a stock breaks through or falls below its trading range after several days of trading in a range, it usually means there is momentum (positive or negative) building. has allowed the equity to consolidate into longer-term support in the form of its ascending 20-week moving average. CC used this trendline to bounce higher in early April and could be poised to spring higher once again off this support level. What's more, with pessimism building toward the shares, there is still ample sideline money available to fuel a fresh rally in the retailer. Click the following link to see a Weekly Chart of CC Since September 2005 with 20-Week Moving Average: http://www.schaeffersresearch.com/wire?ID=16254 . Monster Worldwide: When I last checked on Monster Worldwide (NASDAQ:MNST) on June 15, I commented on how the shares were rebounding on strong trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. , which indicated that the equity may have put in a bottom. From its close on June 15, the equity has added nearly five percent and continues to hold onto today's gains despite a pullback in the broad market. Furthermore, MNST has conquered resistance at its declining 10-day trendline. With a short-interest ratio short-interest ratio A ratio that is used for market analysis and is calculated by dividing short interest by average daily volume. Technicians use the short-interest ratio as a tool to determine market direction. of 4.2, the stock could also benefit from a short-covering rally on this burst of strength, as more of the bears are forced to unload their pessimistic positions. Click the following link to see a Daily Chart of MNST Since April 2006 with 10-Day Moving Average: http://www.schaeffersresearch.com/wire?ID=16254 . Pozen: Pozen (NASDAQ:POZN) is another stock I've visited in this space before (June 12). The stock was bouncing back from oversold Oversold In technical analysis, it is a market in which the volume of selling that has occurred is greater than the fundamentals justify. Notes: It is the opposite of overbought. levels following a sharp drop on a negative decision from the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. . Since my comments on June 12, the equity has rallied nearly 17 percent, putting an additional squeeze on short sellers. As of the May report, the stock carried a short-interest ratio of 9.9 days to cover. The equity's continued strength is putting pressure on these bears, potentially forcing them to buy back their shorted shares, thus adding more buying pressure to the shares. Technically speaking, POZN still has some room to run before it encounters resistance at its 10-day moving average near 8.50. Click the following link to see a Daily Chart of POZN Since May 2006 with 10-Day Moving Average: http://www.schaeffersresearch.com/wire?ID=16254 . Procter & Gamble: The recent pullback in the market has investors returning to more defensive equities such as Procter & Gamble (NYSE:PG). Brokerage firms are also showing a growing interest in the sector, with Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. issuing an upgrade this morning. These positive comments helped lift the security above the upper end of its recent range between 54 and 55. It is critical for the shares to lock in a solid close above resistance at the 55 level if they are going to finally break out of their current range. Furthermore, there is still room for additional upgrades. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Zacks, half of the 14 analysts following PG rate it a "hold." Click the following link to see an Intraday Intraday Another way of saying "within the day." Notes: This term is often used for the new highs and lows of a security. For example, "a new intraday high" means a security reached a new all-time high throughout the trading day, but then fell by closing. Chart of PG for June 19, 2006: http://www.schaeffersresearch.com/wire?ID=16254 . The best way to take advantage of the timely Schaeffer commentaries is to sign up to receive their free e-newsletters -- Opening View, Market Recap and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day. http://www.schaeffersresearch.com/redirect.aspx?CODE=PRSC12M&PAGE=1 . About Schaeffer's Investment Research (www.SchaeffersResearch.com) Schaeffer's Investment Research, founded by Bernie Schaeffer in 1981, is a financial information and trading resources company. It publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription newsletter. The firm's contrarian approach focuses on stocks with technical and fundamental trends that run counter to investor expectations. The firm's website, http://www.SchaeffersResearch.com , is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's. Click here for more details about Schaeffer's trading methodology: http://www.SchaeffersResearch.com/method . |
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