Message #1 From:
Stock News Bot Date: March 23, 2007 03:00:00 AM
BTU News Zacks.com announces that Richard Rhodes highlights the following stocks: Peabody Energy and Amgen.
CHICAGO--(BUSINESS WIRE)--Richard Rhodes, editor of The Rhodes Report newsletter, says the probability of a test of the highs now appears to outweigh a larger correction. Find out why and discover Peabody Energy (NYSE: BTU) and Amgen (Nasdaq: AMGN). Click here for the full story exclusively on Zacks.com: http://at.zacks.com/?id=84
Highlights from the March 23 Featured Expert column by Richard Rhodes include:
We stand humbled and stunned, absolutely “stunned” by just how the past three-day S&P 500 rally has covered a full +3.5% under poor volume and technical circumstances. Moreover, we cannot help but be impressed that all the major averages – with the exception of the Dow Industrials – have broken out above their respective 80-day trading moving averages.
This “blows a proverbial hole” in our consolidation theory. It doesn’t mean it won’t happen, but the probability of a test of the highs now appears to outweigh a larger correction. If this is the case, then we would expect to see prices consolidate in bullish fashion in the days ahead; nothing material, to be sure, but something on the order of a sideways movement that will allow for higher prices.
Recommendations:
Peabody Energy (NYSE: BTU) — Peabody Energy is the largest private-sector coal company in the world. They offer a broad portfolio of coal supplies including coal produced from operations that Peabody Energy manages or owns majority interests in along with brokered coal secured by Peabody Coaltrade.
Amgen (Nasdaq: AMGN) — A biotechnology pioneer, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives.
Read Richard Rhodes’ commentary regarding the probability of a test of the highs andcheck out more stocks by clicking: http://at.zacks.com/?id=85
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