Printer Friendly

Schaeffer's Market Leaders and Laggards Features GenCorp, Movie Gallery, Ford Motor, Bowater, and International Game Technology.

CINCINNATI -- Among the stocks featured in the April 7 edition of Schaeffer's Market Leaders and Laggards are GenCorp (NYSE:GY), Movie Gallery (NASDAQ:MOVI), Ford Motor (NYSE:F), Bowater (NYSE:BOW), and International Game Technology (NYSE:IGT). Schaeffer's Market Leaders and Laggards screener is just one of the many features written everyday at http://www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. The information used to compile this commentary is derived from the Schaeffer's Equity Scorecard Filter. Below is a quick overview of some of the heavy hitters that are seeing some particularly high or low rankings. For a complete list of the stocks on our High/Low Schaeffer's Equity Scorecard Filter, sign up for an unlimited access free trial to Schaeffer's Gold. http://www.SchaeffersResearch.com/redirect.aspx?CODE=PRGLD2M&PAGE=1 .

Schaeffer's Market Leaders and Laggards for Thursday, April 7, 2005:

The Schaeffer's Equity Scorecard enables its users to evaluate any of almost 2,000 stocks in terms of 10 powerful sentiment, technical, and fundamental indicators. The scorecard, which utilizes a proprietary ranking system, also provides a weighed average composite score that can be used to grade equities in a clear and concise manner. A ranking greater than five indicates a potentially bullish (long) trading opportunity, as this security is exhibiting signs of technical strength against a backdrop of heavy investor skepticism. On the other hand, readings below five represent a potential bearish (short) trading opportunity, as these equities lag the market, yet investors maintain high hopes for the stock.

GenCorp (NYSE:GY) - Ranking 10.0

GY is an aerospace and defense concern which, according to Hoover's, also dabbles in real estate. On November, GY shares gapped higher after private investment firm Steel Partners proposed a buyout offer worth $17 per GY share. The equity has continued along an upward path since this news, notching a new all-time high in the process. The stock's continued strong price action, coupled with examples of bearish sentiment, have awarded the shares the highest-possible Schaeffer's Equity Scorecard rating of 10.0. Puts heavily outweigh calls in the front three-months' series, as indicated by the security's Schaeffer's put/call open interest ratio (SOIR) of 1.89. This reading is higher than 81 percent of the past year's worth of readings for the indicator. Short interest spiked by 23 percent last month and is now at an all-time peak of 6.4 million. Nearly 14 percent of the equity's float is currently sold on the short side, and it would take the bearishly positioned short sellers more than 11 trading days (at the stock's average daily volume) to cover all of their open positions. Finally, Wall Street has paid little mind to GY, suggesting that interest is not yet tapped out on this issue. The most recent data from Zacks (www.Zacks.com) shows that GY has earned one "strong buy" rating from major brokerage houses, with no "hold" or "sell" ratings to speak of.

Click on the following link to see the Weekly Chart of GY since July 2004 with 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=12898 .

Movie Gallery (NASDAQ:MOVI) - Ranking 8.0

In late March, MOVI shares gapped higher when Blockbuster (BBI) said it would not continue its pursuit of Hollywood Entertainment (HLYW), allowing MOVI to move forward unfettered with its acquisition plans. As the stock rallied northward, its SOIR took a notable plunge from a short-term high of 1.60, in the 78th annual percentile. The indicator currently weighs in at 0.94, which is higher than 51 percent of the past year's data. Short interest implies a shade more pessimism from the investing community, as over 20 percent of MOVI's available float has been sold short. The current short-interest ratio for the shares stands at 15.5 days to cover, offering a nice cushion of available short-covering support. Wall Street's opinion is contradictory to that of the short-selling crowd. Of the seven analysts following the stock, five have named it a "buy" or "strong buy." Technically speaking, MOVI has maintained a strong uptrend for the past several months, doubling in value since mid-October. Throughout its uptrend, the stock has enjoyed support from its five-week and 10-week moving averages.

Click on the following link to see the Weekly Chart of MOVI since October 2004 with Five-Week and 10-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=12898 .

Ford Motor (NYSE:F) - Ranking 3.0

This morning, F suffered a minor setback as Smith Barney downgraded the stock to a "hold" from a "buy," saying the restructuring plan in place from General Motors (GM) could put pressure on F. Prior to this downgrade, F boasted five "buy" or "strong buy" ratings, compared to six "holds" and four "sells." This number of wary analysts is not terribly surprising, given the stock's recent sharp downtrend. The shares are trading below their 10-month and 20-month moving averages, which recently completed a bearish crossover. This was the first such cross for these long-term trendlines since November 1999. One group that continues to have high hopes for F is the options crowd. Following a plunge in late March (that was not expiration related), the SOIR for F has continued lower and now stands at 0.43, which is just one percent shy of a new annual low. What's more, short interest stands at 84.5 million, the lowest reading since February 2004. Nevertheless, the equity still boasts a fairly hefty short-interest ratio of nearly 10 days to cover. Positive price action or good news is first required, however, to spur a short-covering rally. Zacks (www.Zacks.com) reports that F is scheduled to visit the earnings confessional on April 19. Wall Street is targeting quarterly results of 36 cents per share, down considerably from the year-ago figure of 96 cents per share.

Click on the following link to see the Daily Chart of F since December 2004 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12898 .

Bowater (NYSE:BOW) - Ranking 1.0

According to Hoover's, BOW is one of the world's leading newsprint makers. The firm owns or leases 1.4 million acres of timberlands in U.S. and Canada. Speaking of "timber," BOW has been falling sharply over the last several weeks and is now trapped between a potential rock of double-bottom support near the 37 mark and a possible hard place of resistance from its 10-day moving average, which is slumping lower overhead. Not helping matters is the relative complacency plaguing the shares. The equity's SOIR has been in a slow decline since December and is now just two percent away from an annual low at 0.54. Short interest has also pulled lower of late, declining by 9.5 percent last month to four million shares. Wall Street is currently very mixed on the security. Zacks (www.Zacks.com) indicates that there are three "buy" ratings on the stock, three "sells," and seven uncertain "hold" designations.

Click on the following link to see the Daily Chart of BOW since December 2004 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12898&obspage=2 .

International Game Technology (NYSE:IGT) - Ranking 3.0

IGT was in the news yesterday as Legg Mason initiated coverage on the stock with a "buy" rating. This added to the nine "buys" currently already on the sultan of slot machines. There are also six "hold" designations on IGT at the present time, along with a solitary "sell." This seems like a fairly hefty outpouring of support from Wall Street, given that IGT has been shuffling gradually lower since early November. The stock recently took out potential technical support at the 28 level, and been failing at its 10-week and 20-week moving averages. On the options front, SOIR for IGT has been declining sharply over the past few weeks and now weighs in at 0.60, in the 38th annual percentile. Short interest is fairly average on the stock, with less than four percent of the stock's float sold short, amounting to a short-interest ratio of 4.8 days to cover.

Click on the following link to see the Weekly Chart of IGT since March 2004 with 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=12898&obspage=2 .

For a complete list of the stocks on our High/Low Schaeffer's Equity Scorecard Filter, sign up for an unlimited access free trial to Schaeffer's Gold. http://www.SchaeffersResearch.com/redirect.aspx?CODE=PRGLD2M&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.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Apr 7, 2005
Words:1524
Previous Article:PRIMEDIA Announces Acquisition of VNU'S Auto Interiors Exposition & Conference; Event to Strengthen Ward's Offerings With Valuable information for...
Next Article:A.M. Best Assigns Debt Rating to Ohio Casualty Corporation's Convertible Notes Exchange Offer.
Topics:


Related Articles
Alternative fuel vehicle resource list.
Schaeffer's Daily Market Blog Features Nissan Motor, Visteon, Ford Motor, Nucor, and Intel.
Schaeffer's Market Leaders and Laggards Features Coca-Cola Enterprises, J.P. Morgan Chase, Ford Motor, Anheuser-Busch, and Flextronics.
Schaeffer's S&P 500 Index Hot Stocks Features Ford Motor, Aon, MetLife, Electronic Arts, and Symbol Technologies.
Schaeffer's S&P 500 Index Hot Stocks Features Ford Motor, Aon, MetLife, Electronic Arts, and Symbol Technologies.
BRIEFCASE.
Schaeffer's S&P 500 Index Hot Stocks Features General Motors, Ford Motor, Navistar International, Advanced Micro Devices, and Adobe Systems.
Schaeffer's Daily Market Blog Features Jabil Circuit, Bed Bath & Beyond, U.S. Steel, General Motors, and Ford Motor.
Schaeffer's Daily Market Blog Features General Motors, Ford Motor, PETsMART, McDonald's, and Toll Brothers.
Schaeffer's S&P 500 Index Hot Stocks Features General Motors, Ford Motor, Lockheed Martin, Computer Sciences, Hewlett-Packard.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters