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All Analysts Vote "No" on the Market

���� At the Stock Traders Press we take seriously our responsibility of providing well-researched and profitable buy recommendations to our clients. As evidenced by the list of 9 stocks below that hit target over the past week we do a pretty respectable job. Last year our Spotlight Stocks returned 149%. Each week we review up to 1500 NASDAQ and NYSE stocks prior to making our recommendations. In every weekly issue over the past 3 years we have always been able to find at least a handful of strong recommendations for our clients. Our goal is to pick stocks that will ideally rise 20-30% in just 1 to 3 weeks from when we recommend them. Today our research department ended up in a quandary. Few if any stocks look attractive. When we polled our in-house research staff not one single analyst felt comfortable with current market conditions. The NASDAQ market has run up nearly 20% over the past week and looks poised to do some backpedaling at these levels. It makes no sense to force a trade. There are times when the best wisdom dictates that investors step to the sidelines and wait for a more attractive point to re-enter the markets. It makes little sense to initiate new long positions at this time. But, we believe there will be attractive buying opportunities at the end of this week or early next week. We could put out this weeks research report with buy recommendations that would probably seriously under perform the strong return our clients have seen recently. A common mistake investors make is to force a trade where one doesn't exist. On Monday 6/5/00 the markets held the gains seen in the market last week. Traders were pleased to see prices hold after such a quick rise in the market. Today was a very different situation. Stocks traded sideways to mildly higher in a tight trading range through the early afternoon. Then buyers became AWOL and stock prices slid moderately lower, closing at the lows of the session. This is not a good sign. The Dow was off 78 points, and the NASDAQ was down 65 points. We would expect the markets to sell off over the next couple of days. Clients experienced in short selling may want to short some of the technology stocks that have run up steeply over the past week or the new short sale recommendations on the last page of this weeks research report. Most short-term traders should consider taking profits in any stocks that have risen strongly over the past week with a plan of re-entering these stocks near-term. Long-term investors should just view this as a market gyration that comes with the territory. The Stock Traders Press research department will be issuing fax and email alerts as necessary during the balance of the week to apprise our clients of any attractive buying opportunities that arise between now and next weeks research report.