Shrewd Investing

[Shrewd Dude]

Our Top 50 Watch Stocks – July 29, 2004 – updated daily

While overall yesterday was another very disappointing day we were pleased to see that at least some of our Watch Stocks had double digit gains and that profit taking did not unduly affect our Trend Reversals. SONSE has been retained as a trend reversal because of the after hours activity.

We referred to UTSI a couple of days ago when we were suggesting that in the current climate we did not recommend holding stocks though earnings, – UTSI fell yesterday by 29% in spite of a sound performance – a buying opportunity today perhaps!

Our list of Watch Stocks now stands at our target level of 50 so there will now be increased focus on a stocks potential.

For today U.S. stock futures are currently indicating a modest but positive opening to today’s trading.

Today’s Additions: ARRS; CIEN; EBKR; EVOL; HILL; LSI; MSPD; PETS; VDWB.
Watch Stocks: IDWK; IMAX TKO; UTSI; DSPG; EFII; HELX; AMCC; CYTK; MOSY; CGNX; ANDW; ARTX; CNXT; DRIV; HELX; RETK.
Possible Trend Reversal: FTGX; BKHM; ROG; CREE; SGTL; SSTI; BSQR; FPDI; JCOM; WTLSA; MAMA; IDEV; SONSE; WEBX; IWOV.
Failures: ALVR; PLXT; SPIL; AGRa; SWKS; SANM; IVAC; CMGI; OVTI; SUNW.
Deletions:


Useful Links
1. AM Market Call from CNN: http://www.shrewdinvesting.com/links2.asp?LinkId=292
2. Pre-market activity: http://www.shrewdinvesting.com/links2.asp?LinkId=806
2. Companies reporting today: http://www.shrewdinvesting.com/links2.asp?LinkId=755

Trade to Win

The Shrewd Dude

Notes
1. Watch Stocks are not stock tips but stocks that we have selected to monitor for a trend reversal. While selected stocks will therefore show considerable volatility they should provide many trading opportunities.
2. Trend Reversal are previous Watch Stocks that we believe have significant potential and could be at the initial stage of an upward trend.
3. Failures are stocks that we continue to like but the trend reversal may be erratic or have broken down.
4. Deletions are stocks that are being removed from our Top 50 Watch Stocks to make way for new additions and their deletion does not mean that we feel they lack further potential.

IMPORTANT: Until any downward trend has been reversed, buying highlighted stocks will carry additional risks. We recommend waiting for 10-15 minutes after open before placing an order. Please remember the old saying that amateurs trade the open while pros trade the close and that as a rule you should not chase after a stock nor should you fall in love with it. Also while all stock picks are subject to our disclaimer, Penny Stocks, particularly where trading volumes are low, can and will have greater price volatility. Remember, if trading was easy, everyone would be doing it and everyone would be rich.

Disclosure LONG: OVTI; FPDI; JCOM; SONSE