Printer Friendly Announces That Gregory Spear Highlights the Following Stocks: Captiva Software and Openwave Systems.

CHICAGO -- Gregory Spear, editor of The Spear Report Professional Edition newsletter, details some of the events that take place during bear and bull rallies. Learn about Captiva Software (NASDAQ:CPTV) and Openwave Systems (NASDAQ:OPWV). Click here for the full story exclusively on

Highlights from the June 3rd Featured Expert column by Gregory Spear include:


Bear market rallies, which occur in the midst of a downtrending market, are unusually sharp and strong. They always spark hope that the bottom has arrived and a turnaround is now in progress. During bear market rallies we breathe a big sigh of relief, as though the bully has finally stopped twisting our arm. Moreover, during bear markets, pundits and brokers are continually reminding us that each dip is a great buying opportunity. There is always a point at which they are correct, and they take great satisfaction in that, ignoring the previous carnage.

Bull market rallies, on the other hand, feel completely different: they climb a wall of worry. In other words, they seem improbable. At times, the market rallies much further than one would expect in spite of potentially troubling issues. Small amounts of good news seem to produce extraordinary results. At other times, the market seems to just drift higher for no apparent reason. The steady creep eventually amounts to a significant advance over weeks and months, yet few celebrate the rally. When stocks 'should' pullback, for technical reasons such as being overbought, significant selling pressure simply does not materialize. Then, suddenly the market drops quickly, but soon a steady recovery begins, as there is little follow-through to the initial wave of selling.

Those quick dips typically take the market down to one of the important moving averages (the 8-, 20- or 50-day moving average, for example) depending on the amount of momentum. In fact, that's how we measure the underlying momentum, by the depth of the dips. A market that retraces a large proportion of every little advance as it stair-steps higher has weak momentum, whereas, a market that forms a tighter pattern with little retracement has strong momentum.

Spear and his team are profiling Captiva Software (NASDAQ:CPTV) and Openwave Systems (NASDAQ:OPWV) in today's weekly edition. CPTV is a niche software player with excellent fundamentals. OPWV is a play on Microsoft's entry into the mobile phone market and a short-squeeze. Both rallied strongly on Thursday (6/2) and Spear recommends waiting for a pullback.

Read Gregory Spear's entire commentary and check his commentaries on a daily basis by clicking:

About Zacks Featured Experts

Successful investing requires professional advice from knowledgeable experts who can help investors achieve their financial goals in good markets and improve their portfolios, especially in bad ones. That is why Zacks Investment Research has assembled the best investment experts in the business to offer their powerful advisory newsletters on all the major investment topics: Stocks, Mutual Funds, Bonds, Options, Futures etc.

Additional recommendations from Featured Experts are highlighted in the free investment newsletter, Profit from the Pros. Each issue highlights several Featured Experts in this free e-mail newsletter. Register for a free subscription to "Profit from the Pros" at:

About Zacks is a property of Zacks Investment Research, Inc., which was formed in 1978 to compile, analyze, and distribute investment research to both institutional and individual investors. The guiding principle behind Zacks work is the belief that investment experts, such as brokerage analysts and investment newsletter writers, have superior knowledge about how to invest successfully. The goal is to unlock these pros' profitable insights for individual investors hard-pressed to find this valuable information in one source. A free subscription to "Profit from the Pros" weekly e-mail newsletter provides the best way to use these experts' insights for more profitable investing. Register now for a free subscription to the Profit from the Pros newsletter at

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
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Publication:Business Wire
Date:Jun 6, 2005
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