stock talk featuring ewrc
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Talk Stock with Red Roadmaster featuring ERWCTRANSCRIPT
Red Roadmaster
STOCK TALK
Red Roadmaster
26th June, 2009 ContactPaul A. Ebeling, Jr.
Paul A. Ebeling, Jr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world. Ebeling has studied the global financial and stock markets since 1984, following a success-ful business career that included investment banking, and market and business analysis. He is a spe-cialist in equities/commodities, and an accomplished chart reader who advises technicians with re-gard to Major Indices Resistance/Support Levels.
The Red Roadmaster’s US Market Recap + Stock Talk™
June 26, 2009 Alert: The Red Roadmaster looks at Bed Bath & Beyond, Inc. (BBBY), Foot Locker Inc. (FL), and Lennar Corp CL-A (LEN), for the 1st time + Greyhound in the Gate # 1 (See Inside)
The Recap of Thursday’s US Stock Market Action
US Stocks rallied yesterday as the resting cycle ended, and the DJIA snapped its 4 Day losing streak
The DJIA tallied up + 172.54 pts (2.08%) to close at 8,472.40, the S&P 500 added 19.32 pts (2.14%) to close at 920.26, the NAS posted + 37.20 pts (2.08%) to close at 1,829.54, and the Russell 2000 index rose 14.23 (2.9%) ending at 509.18 on the day.
Bed Bath & Beyond (Covered in Stock Talk today) reported a surprising increase in quarterly profit as it cut costs to offset slumping demand, and its stock gained 9.5% to close at US$31.08.
Crude Oil rose US$1.56 to settle at US$70.23 bbl on the New York Mercantile Exchange.
The US$ was mixed against other major currencies. Gold futures for August delivery rose US$5.10 (0.5%) to US$939.50 oz on the Comex. Gold Bullion for immediate delivery rose US$6.91 (0.7%) to close at US$938.31 oz. at 7:58 p.m. in London. London spot Gold prices are up 0.4% this week after three weeks of declines.
Silver futures for July delivery, the contract with the most volume today, rose 9.5 cents (0.7%) to US$14.005 oz in New York. Silver for immediate delivery in London jumped 13.63 cents (1%, to $14.0013 oz at 7:59 p.m. in NY.
Overseas, Britain's FTSE 100 fell (0.6%), Germany's DAX index fell (0.7%, France's CAC-40 lost (0.7% ) and Japan's Nikkei rose 2.2%..
Stocks to Watch Today
Bed Bath & Beyond, Inc. (BBBY), ChevronTexaco Corporation (CVX), Exxon Mobil Corp (XOM), Foot Locker Inc. (FL), LENNAR CP CL A (LEN), UBS AG (UBS) and Greyhound in the Gate # 1 eWorld Companies, Inc. (EWRC).
Bed Bath & Beyond, Inc. (BBBY)
June 26, 2009
Paul A. Ebeling, Jr. Analyst
Today, let’s look at Bed Bath & Beyond, Inc. (BBBY), the #1 superstore domestics retailer in the USA, from a Technical POV. The overall indications, after Thursday’s (June 25, 2009) market action, are Bullish: in the near term Very Bullish, mid-term Bullish, and long term Neutral.
**Chart by: http://www.stockta.com
Latest News: Bed Bath & Beyond Cleans Up Without Competition http://secure2.thestreet.com/cap/login/rm_mbp_yho_w-ads.jsp?cm_ven=YAHOO&cm_cat=PREMIUM&cm_ite=003190&flowid=4f98bac051&url=http://www.thestreet.com/p/_yahoo/rmoney/retail/10527839.html
Thursday’s Market Action Close 31.08 + 2.69 Volume 18,756,000/shrs
There are three Gaps open up between Apr 2 and June 25, 2009 at 25.27/29.98, the near term resistance is 30.58, support at 31.70, and the 50 day (EMA) exponential moving average is 28.31.
This is Bed Bath & Beyond, Inc. (BBBY): The #1 superstore domestics retailer in the USA with about 930 BBB stores throughout the US and Ontario, Canada. The stores' floor-to-ceiling shelves stock better-quality (brand-name and private-label) goods in two main categories: domestics (bed linens, bathroom and kitchen items) and home furnishings (cookware and cutlery, small household appliances, picture frames, and more). BBB relies exclusively on circulars, mailings, and word-of-mouth for advertising. The company also operates three smaller specialty chains: 50-plus Christmas Tree Shops; 40 Harmon discount health and beauty shops; and 15 byebye Baby locations.
Competitive Landscape
Demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through depth of products and superior customer service. The industry is labor-intensive: average annual sales per employee is US$125,000.
Home Furnishings Stores Industry Forecast US personal consumption expenditures of home furnishings are forecast to grow at an annual compounded rate of 3% between 2008 and 2013. Data Sourced: December 2008
Bed Bath & Beyond, Inc. (HQ)
Warren Eisenberg , Co-Founder and Co-Chairman
Leonard Feinstein Co-Founder and Co-Chairman
650 Liberty Avenue Union, NJ 07083 United States Phone: 908-688-0888 Fax: 908-688-6483
http://www.bedbathandbeyond.com
ChevronTexaco Corporation (CVX) Up-date 8 June 26, 2009
Paul A. Ebeling, Jr. Analyst
Today let’s have a look at ChevronTexaco Corporation (CVX), the US Oil Giant, from a Technical POV. The overall indications, after Thursday’s (June 25, 2009) market action, are Neutral: in the near term Neutral, mid-term Neutral, and long term Neutral.
**Chart by: http://www.stockta.com
Latest News: Predicting Share Prices of Energy Companies http://seekingalpha.com/article/145316-predicting-share-prices-of-energy-companies?source=yahoo
Thursday’s Market Action Close 66.87 + 1.15 Volume 12,829,700/shrs
There is a Bullish Engulfing Candle on June 25 and one Gap open down on June 22, 2009 at 67.37/67.30, the near term resistance is 67.76, support at 66.00, and the 50 day (EMA) exponential moving average is 67.77.
This is ChevronTexaco Corporation (CVX): Texaco's star and its Chevron stripes allow this US Oil Giant to have market clout. It is the 2nd largest US integrated oil company behind Exxon Mobil and has proved reserves of 10.8 B bbls of crude oil equivalent and a daily production of 2.6 MM bbls of crude oil equivalent, and it also owns interests in chemicals, pipelines, and power production businesses. The company, which is restructuring its refinery and retail businesses, owns or has stakes in 9,700 gas stations in the US which operate under the Chevron and Texaco brands. Outside the US it owns or has stakes in 15,400 gas stations, which also use the Caltex brand.
The Competitive Landscape Demand is driven by federal legislation and regulations that establish a government-mandated market for bio-fuels. The profitability of bio-fuel production facilities depends on prices of gas and diesel, which fluctuate based on world petroleum demand and domestic refinery utilization. Economies of scale in ethanol production are limited due to the transportation costs associated with gathering feed stocks (corn and other biomasses) and transporting the ethanol to blending sites. As a result, large companies operate multiple production facilities. Small companies can compete effectively by developing business relations with distributors and being able to assure delivery consistently. Revenue per employee in ethanol production facilities is about US$1MMper year. Industries Where Chevron Competes Energy & Utilities Oil & Gas Refining, Marketing & Distribution Alternative Energy Sources Chemicals Financial Services Retail ChevronTexaco Corporation (HQ) Chairman and CEO David J. (Dave) O'Reilly 6001 Bollinger Canyon Rd. San Ramon, CA 94583 United States Phone: 925-842-1000 Fax: 925-842-3530 http://www.chevron.com Chevron Subsidiaries and Affiliates Bridgeline Holdings, L.P. Caltex Australia Limited Chevron Mining Inc.
Exxon Mobil Corp. (XOM) Up-date 7
June 26, 2009
Paul A. Ebeling, Jr. Analyst
Today let’s look at Exxon Mobil Corp (XOM), the World's largest integrated oil company, from a Technical POV. The overall indications, after Thursday’s (June 25, 2009) market action, are Neutral: in the near term Neutral, mid-term Neutral, and long term Neutral.
**Chart by: http://www.stockta.com
Latest News: Exxon Mobil's Weapons of Gas Destruction http://online.wsj.com/article/SB124595565700755357.html?ru=yahoo#mod=yahoo_hs
Thursday’s Market Action Close 69.88 + 1.43 Volume 30,904,800/shrs
There are four Gaps open down between Dec 18, 2008 and May 21, 2009 at 81.06/68.98, the near term resistance is 70.22, support at 69.02, and the 50 day (EMA) exponential moving average is 69.15.
This is Exxon Mobil Corp (XOM): the Company engages in the exploration, production, transportation, and sale of crude oil and natural gas. It also engages in the manufacture of petroleum products, and transportation and sale of crude oil, natural gas, and petroleum products. The company manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and other specialty products. Exxon Mobil also has interests in electric power generation facilities. As of December 31, 2007, it had 7744 millions of barrels of liquid proved reserves, and 32,610 billions of cubic feet of proved reserves of natural gas. Exxon Mobil also operated 16,797 gross wells. The company operates in the United States, Canada, Europe, Africa, Asia-Pacific, the Middle East, Russia/Caspian region, and South America. Exxon Mobil was founded in 1870. The company was formerly known as Exxon Corporation and changed its name to Exxon Mobil Corporation in 199
Competitive Landscape
Demand depends on the overall strength of the US economy, because most industrial chemicals are used in the manufacture of more-complicated products like fibers, plastics, paints, and paper. The profitability of individual companies is closely linked to efficient operations, because most products are commodities. Big producers have large economies of scale in production, which is why some chemicals are made by just a handful of companies. Small companies can compete effectively by making specialized or highly-purified products. The industry is highly automated: average annual revenue per employee is over US$600,000.
Exxon Mobil Corp (HQ)
Chairman, Chief Exec. Officer & President: Rex W. Tillerson 5959 Las Colinas Boulevard Irving, TX 75039-2298 United States Phone: 972-444-1000 Fax: 972-444-1348
http://www.exxonmobil.com
Exxon Subsidiaries Aera Energy LLC Esso Petroleum Company, Limited ExxonMobil Chemical Company
Foot Locker Inc. (FL)
June 26, 2009
Paul A. Ebeling, Jr. Analyst
Today, let’s look at Foot Locker Inc. (FL), the #1 athletic footwear retailer in the USA, from a Technical POV. The overall indications, after Thursday’s (June 25, 2009) market action, are Bearish: in the near term Bearish, mid-term Neutral, and long term Neutral.
**Chart by: http://www.stockta.com
Latest News: Foot Locker, Inc. Names Ken C. Hicks as President and Chief Executive Officer
http://finance.yahoo.com/news/Foot-Locker-Inc-Names-Ken-C-prnews-15622461.html?x=1&.v=1
Thursday’s Market Action Close 10.45 + .01 Volume 3,850,400/shrs
There is a Bearish Engulfing Candle June 23, and no Gaps open up or down on the Chart, the near term resistance is 10.60, support at 10.01 and the 50 day (EMA) exponential moving average is 10.75.
This is Foot Locker Inc. (FL): Foot Locker is the #1 athletic footwear retailer in the USA, it leads the pack in the race to capture the biggest share of the athletic footwear market. The company is a leading retailer of athletic shoes and apparel Foot Locker has about 3,640 specialty stores in some 20 countries in North America and Europe, as well as Australia and New Zealand, led by Foot Locker (Foot Locker also operates Lady Foot Locker and Kids Foot Locker; Champs Sports, an athletic wear retail chain; Eastbay, a catalog retailer of athletic equipment and apparel; and the Footlocker.com Web site. The company also has about 335 Footaction stores in the US and Puerto Rico, which sell footwear and apparel to young urbanites.
Competitive Landscape
Demand is driven by fashion and demographics. The profitability of individual companies depends on their ability to design and market attractive shoe models. Big companies have economies of scale in distribution and marketing. Small companies can compete successfully through superior design or marketing. Footwear Manufacture, Wholesale, and Retail Industry Forecast The output of US shoe and other leather product manufacturing is forecast to grow at an annual compounded rate of 4% between 2008 and 2013. Data Sourced: December 2008 Foot Locker Inc. (HQ) Matthew D. Serra Chairman, Chief Exec. Officer & President 112 W 34th Street New York, NY 10120 United States Phone: 212-720-3700 Fax: 212-553-7026 http://www.footlocker-inc.com
The Home Depot, Inc (HD) Up-date 5
June 26, 2009
Paul A. Ebeling, Jr. Analyst
Today let’s look at The Home Depot Inc. (HD, the World’s Biggest Home Fixer Upper Store, from a Technical POV. The overall indications, after Thursday’s (June 25, 2009) market action, are Bearish: in the near term Neutral, mid-term Bearish, and long term Bearish.
**Chart by: http://www.stockta.com
Latest News: Home Improvement Gets a Quick Fix http://online.barrons.com/article/SB124588072360749549.html?ru=yahoo#mod=yahoobarrons
Thursday’s Market Action Close 23.57 + .89 Volume 18,940,600/shrs
There is a Bullish Engulfing Candle on June 25 and no Gaps open up or down on the Chart, the near term resistance is 24.31, support at 23.56 and the 50 day (EMA) exponential moving average is 23.96.
This is The Home Depot, Inc. (HD): The Company operates as a home improvement retailer primarily in the United States, Canada, and Mexico. The Home Depot stores offer building materials, home improvement supplies and lawn and garden products that are sold to do-it-yourself customers, do-it-for-me customers, home improvement contractors, trades people and building maintenance professionals. The company also operates EXPO Design Center stores that provide products and services primarily related to design and renovation projects. As of January 26, 2009, it operated 2,274 retail stores in 50 states in the United States, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces, Mexico, and China. The company was founded in 1978 and is based in Atlanta, Georgia.
Competitive Landscape The industry is driven mainly by residential real estate construction and renovation. Large chains have expanded rapidly in recent years by focusing on the home improvement market, with contractor sales as a sideline. Smaller companies, often family-owned lumberyards, can compete effectively by catering to contractors (for whom price is less important than other services), through a wider range of specialty products and services, and by serving areas unattractive to the big-box stores because of limited customer concentration. Building Material Supply Industry Forecast The value of US private and public construction of buildings, which is a driver for building material supplies, is forecast to grow at an annual compounded rate of 5% between 2008 and 2013. Data Sourced: December 2008
The Home Depot, Inc. (HQ)
Exec. Chairman and Chief Exec. Officer: Francis S. Blake
2455 Paces Ferry Road NW Atlanta, GA 30339 United States Phone: 770-433-8211 Fax: 770-431-2685
http://www.homedepot.com
LENNAR CP CL A (LEN)
June 26, 2009
Paul A. Ebeling, Jr. Analyst
Today, let’s look at LENNAR CP CL A (LEN), one of the largest homebuilding, land-owning, loan-making companies in the USA, from a Technical POV. The overall indications, after Thursday’s (June 25, 2009) market action, are Neutral: in the near term Neutral, mid-term Neutral, and long term Neutral.
**Chart by: http://www.stockta.com
Latest News: Lennar's Strategies Shave Home Inventory
http://online.wsj.com/article/SB124592523065252943.html?ru=yahoo#mod=yahoo_hs
Thursday’s Market Action Close 9.19 + 1.37 Volume 22,802,600/shrs
There is a DOJI on June 23, and one Gap open down on Jun 15, 2009 at 7.90/7.89, the near term resistance is 9.20, support at 8.87, and the 50 day (EMA) exponential moving average is 8.64.
This is LENNAR CP (LEN): Lennar is one of the largest homebuilding, land-owning, loan-making leviathans in the US, along with D.R. Horton, Centex, and Pulte Homes. The company primarily builds single-family attached and detached homes in 16 states under brand names including Lennar, Cambridge, NuHome, and Greystone. Lennar targets first-time, move-up, and active adult buyers and markets its homes as "everything included". The company also provides financial services including mortgage financing, title, and closing services. In fiscal 2008 Lennar delivered some 16,000 homes at an average price of US$270,000 -- a steep drop from the 33,000 homes delivered the previous year. CEO Stuart Miller controls 47% of the company.
Competitive Landscape
Demand for new housing depends on population growth and is linked to low interest rates. Large builders have some advantages in purchasing and marketing, but building methods are essentially the same for large or small builders. While larger builders have efficiencies because they can repeatedly build the same home models, they generally develop projects on large pieces of land. Small builders, therefore, build most homes in dense urban markets where little land is available. Residential Real Estate Construction Industry Forecast The value of US new residential home construction and renovations is forecast to grow at an annual compounded rate of 7% between 2008 and 2013. Data Sourced: December 2008 LENNAR CP (HQ) Stuart A. Miller, President, CEO, and Director 700 NW 107th Ave., Ste. 400 Miami, FL 33172 United States Phone: 305-559-4000 Fax: 305-229-6453 Toll Free: 800-741-4663 http://www.lennar.com Lennar Subsidiaries The Newhall Land and Farming Company North American Title Group, Inc. Universal American Mortgage Company, LLC
JP Morgan Chase & Company (JPM) Up-date 22
June 26, 2009
Paul A. Ebeling, Jr. Analyst
Today let’s look at JP Morgan Chase (JPM), the # 3 financial services firm in the USA from a Technical POV. The overall indications, after Thursday’s (June 25, 2009) market action, are Neutral: in the near term Neutral, mid-term Neutral, and long term Neutral.
**Chart by: http://www.stockta.com
Latest News: J.P. Morgan Teams with Arden Funds http://online.wsj.com/article/SB124597841808157799.html?ru=yahoo#mod=yahoo_hs
Thursday’s Market Action Close 34.14 + .68 Volume 57,199,600/shrs
There is a Gap open up on Apr 9 at 27.83/30.02, the near term resistance is 34.49, support at 32.77, and the 50 day (EMA) exponential moving average is 33.46.
This is JP Morgan Chase & Company (JPM): JPM is the #3 financial services firm in the USA behind Citi and Bank of America with more than 3,000 bank branches and growing. It is also among the nation's top mortgage lenders, automobile loan writers, and credit card issuers. JPM is also into investment banking and asset management. The company's subsidiaries include JPMorgan Private Bank and institutional investment manager JPMorgan Asset Management with US$1.6T in assets under management. In 2008 JPMorgan Chase bought Bear Stearns and Washington Mutual.
The Competitive Landscape Demand for banking services in the USA is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on their marketing abilities, efficient operations, and good risk management. Large economies of scale exist in some segments of the banking industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital intensive and highly automated: annual revenue per employee is about US$300,000.
Banks and Credit Unions Industry Forecast The output of banks and credit unions in the USA is forecast to grow at an annual compounded rate of 5.1% 2008 and 2013. JP Morgan Chase & Company (HQ) Chairman, President, and CEO James (Jamie) Dimon 270 Park Ave. New York, NY 10017 United States Phone: 212-270-6000 Fax: 212-270-1648 http://www.jpmorganchase.com
JPMorgan Chase Subsidiaries Bear Stearns Merchant Banking Bear, Stearns Securities Corp. Bear Wagner Specialists LLC Chase Co (formally Washington Mutual)
UBS AG (UBS) Up-date 2
June 26, 2009
Paul A. Ebeling, Jr. Analyst
Today, let’s look at UBS AG (UBS), one of the world’s largest investment managers, from a Technical POV. The overall indications, after Thursday’s (June 25, 2009) market action, are Neutral; in the near term Neutral, mid-term Neutral, and long term Neutral.
**Chart by: http://www.stockta.com
Latest News: UBS to Raise US$3.5B http://www.thestreet.com/_yahoo/story/10527999/1/ubs-bleeding-red-to-raise-35b.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
Thursday’s Market Action Close 12.97 - .20 Volume 7,647,100/shrs
There a Homing Pigeon on June 23 and 3 Gaps open up between Mar 10 and June 23, 2009 at 7.44/12.99, the near term resistance is 13.35, support at 12.14, and the 50 day (EMA) exponential moving average is 13.38.
This is UBS AG (UBS): UBS, one of the world’s largest wealth managers, has offices around the world -- the lion's share in Europe and North America -- that provide financial services through three major segments: Global Wealth Management & Business Banking, UBS Investment Bank, and Global Asset Management. UBS serves institutional investors and high-net-worth individuals by offering mutual funds, asset management, corporate finance, and estate planning; its investment banking operations include securities underwriting, mergers and acquisitions advice, fixed-income products, and foreign exchange. UBS also provides traditional banking services in its home country of Switzerland.
Competitive Landscape Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to US$300,000. Banks and Credit Unions Industry Forecast The output of US banks and credit unions is forecast to grow at an annual compounded rate of 1% between 2008 and 2013. Data Sourced: December 2008
UBS AG (HQ)
Chairman, Peter Kurer Bahnhof Strasse 45 Zurich, 8098 Switzerland Phone: 41 44 234 11 11 Fax: 41 44 239 91 11
http://www.ubs.com
UBS Subsidiaries UBS Financial Services Inc. UBS Investment Bank
Special Feature Alert: Greyhound in the Gate eWorld Companies, Inc. (EWRC) is an online marketing and advertising company that develops and markets cutting edge technologies using rich media, flash and 3D graphics. eWorld markets and distributes its proprietary branded products through the wholly-owned subsidiary eWorld Entertainment, Inc. and its international network of Affiliates. eWorld is the global leader in its genre of dynamic and content rich software, providing the highest user value on the web. eWorld has formed strong strategic international partnerships and marketing alliances to provide additional and exclusive content that eWorld offers through its patent pending Boomerang Media Station™ and its PlayTV™ online broadcasting network. eWorld also offers unique revenue-sharing strategies that can provide generous income streams for individuals, businesses, charities and non-profit organizations. eWorld's revenue model consists of seven components: (1) Affiliation Fees, (2) Affiliate Monthly Subscriptions, (3) Affiliate Benefit Subscriptions, (4) Product Sales, (5) Advertising Revenues, (6) Web Development Accounts, and (7) International Licensing Fees. tting edge technologies using rich media, flash, animation and 3D graphics to help individuals and businesses market and advertise online. eWorld's revenue model consists of seven components: (1) Affiliation Fees, (2) Affiliate Monthly Subscriptions, (3) Affiliate Benefit Subscriptions, (4) Product Sales, (5) Advertising Revenues, (6) Web Development Accounts, and (7) International Licensing Fees. eWorld’s objective is to capitalize on continued explosive growth and eventual maturation of the Internet by creating a user-friendly software that is dynamic, attractive and provides significant value for its users. eWorld continues to expand its international network of users and Affiliates, which in turn attracts not only more users but also businesses and organizations with whom eWorld forms strategic relationships and partnerships. These partners provide additional content and services that eWorld offers through Boomerang®, and they and eWorld work together to spread the word about their respective products, services, ideas and charities. The Company will continue to use its unique technology and international affiliate network to create substantial and growing financial returns for the Company’s investors. In yesterday market action EWRC traded at .0017/shr on strong volume of 54,866,425/shrs unchanged on the day. The overall indicators are Bullish in the near and intermediate term. The Chart: http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=ewrc&time=&freq
Latest News: eWorld Companies, Inc. Expands IT Group for Boomerang 4.0; Confirms Rothman Resolution
http://finance.yahoo.com/news/eWorld-Companies-Inc-Expands-bw-15616080.html?x=1&.v=1
eWorld Companies, Inc. Releases Major Upgrade of Boomerang Media Station®
http://finance.yahoo.com/news/eWorld-Companies-Inc-Releases-bw-1073591380.html?x=0&.v=2
eWorld Companies, Inc. (HQ) Henning Morales, CEO, & Secretary 9663 Santa Monica Blvd. Suite 559 Beverly Hills, CA 90210 Phone: 310-471-7674 Fax: 310- 557-3091 E-mail: [email protected]
http://www.eworlde.com/index.php
Disclaimer: The foregoing is commentary for informational purposes only. It is designed to help the reader learn the fine art of technical analysis. Links are provided to articles and stories referenced in this Report. Some statements and expressions are the points of view and/or opinions of Red Roadmaster™, aka Paul A. Ebeling, Jr. and the contributors. This information is not meant to be a solicitation or recommendation to buy, sell, or hold securities. I am not licensed or registered in the securities industry. The information presented herein has been obtained from readily available sources believed to be reliable, but its accuracy is not guaranteed. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors. I do not receive compensation in any manner from any of the companies that are discussed in this Report. Please feel free to print and/or send The Red Roadmaster’s Technical Report on the US Major Market Indices ™ to your friends and associates, no permission is necessary. ©2002/2009 Paul A. Ebeling, Jr.