Newsletter

Oracle Corporation (NASDAQ: ORCL) Stock Update

March 12, 2001
Volume IV, Issue 25
Email : info@otcjournal.com
URL : http://www.otcjournal.com

To OTC Journal Members:

It is now 10:00 AM Pacific time and the NASDAQ is down 100 points to about 1950. As mentioned in our weekend edition, we felt the market would sell off early, following through from Friday's big drop.

Our friends at the Swingwire (www.swingwire.com) were hoping to see a rebound after the first half hour of trading. This is not happening. Virtually all technical analysis is out the window at this time, and it is very tough to call a bottom in technology stocks.

The next FOMC meeting is one week from tomorrow, and we believe there will be a relief rally beginning by Wednesday and running into the meeting. Once the FED announces how much they will lower interest rates the market will sell off regardless of the FED's actions. Buy on Rumor Sell on News will be the mode of operation leading into the FED meeting.

Once the initial surge of selling ended this morning all selling pressure dissipated. Stocks are not moving up because buyers are on strike. However, chip stocks are beginning to improve, and this was the group that was selling off the worst in January.

After struggling with a decision we're moving forward with two trading alerts. The success of these ideas is predicated on the view that there will be a relief rally this week. We called in correctly back on February 28th and gave our members two money makers with Nokia (NYSE: NOK) and JDS Uniphase (NASDAQ: JDSU). However, all support levels in the NASDAQ have been violated, and we would not recommend risking more than a point or two on either of these ideas. If you're willing to take a shot, make your trade then hope the NASDAQ firms up.

If we call it right take your profits after one or two trading days. If we have called it wrong, sell down a point or two and get out.
 

Oracle Corporation (NASDAQ: ORCL)


 
 
 
 
 
 

Oracle has replaced Microsoft as the bellwether leader in the software arena. Microsoft ruled the world when the growth was in PC's. Now that growth is stronger in the Networking sector, Oracle has become the leading indicator of the health of the software sector.

The Stochastic chart on the bottom shows are quadruple bottom at the zero level, which is considered a low risk entry point in the stock.

Here are our thoughts on the stock:

  • -Buy at the current market- $15.50 to $16.
  • -Target Price in an Improving Market- $18 (10 day moving average should be resistance).
  • -Stop Loss- $14.50 or whatever your risk tolerance is.

 
 
 
 
 
 
 
 
 
Art Group (NASDAQ: ARTG)


 
 
 
 

Art Group is one of the leading software companies in the rapidly growing B to B software networking space. The company has not warned of declining sales and earnings, but the stock has been hammered in the last two weeks along with the rest of their peers. The last relief rally took this stock up 15 points.

Here are our thoughts on the Stocks

  • -Buy at current market- $17.50 to $18.
  • -Target Price- 10 day moving average of $24.
  • -Stop Loss- 1 to 2 points, or wherever your risk tolerance is.

 
 



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