Zacks.com Announces that Richard Moroney Highlights the Following Stocks: Ball, Masco, Allstate Corporation, Fisher Scientific, and SunGard Data Systems

Business Wire, Oct 12, 2004

CHICAGO -- The Dow Industrials are being limited by sluggishness amongst some of the market's largest companies. Richard Moroney explains what must happen to reconfirm the bullish primary trend, and then offers several selections from his Buy List. Read about Ball (NYSE:BLL), Masco (NYSE:MAS), Allstate Corporation (NYSE:ALL), Fisher Scientific International Inc. (NYSE:FSH), and SunGard Data Systems Inc. (NYSE:SDS). Richard Moroney is editor of the Dow Theory Forecasts newsletter. Click here for the full story exclusively on Zacks.com: http://at.zacks.com/?id=84

Here are the highlights from the Featured Expert column:

Divergence continues, with the Dow Transports surging to five-year highs and the Dow Industrials miring in a trading range. Under the Dow Theory, a close above the February high of 10,737.70 in the Industrials is necessary to reconfirm the bullish primary trend.

A close below 9814.59 in the Industrials would be discouraging, especially if such a breakdown comes amid a reversal in the broad market. But, with the Transports reaching significant highs, points have not been established for a bear-market signal. For the Dow Theory to shift into the bearish camp, the Transports will need to begin charting a pattern of lower lows.

The Industrials have been hurt by shortfalls at Merck and Coca-Cola, and the giant blue chips that dominate the Industrials have been out of favor. The capitalization-weighted S&P 500 Index, with 37% of its value in the largest 25 companies, has also been unable to close above its February high.

What to do now

Look to buy reasonably valued stocks supported by solid operating momentum, and be quick to sell stocks with extended valuations or poor Quadrix scores. Attractive buys include Ball (NYSE: BLL) and new recommendation Masco (NYSE: MAS).

Other stocks on the Buy List include:

Allstate Corporation's (NYSE: ALL) business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company and their subsidiaries. Allstate is engaged, principally in the United States and Canada, in the personal property and casualty insurance business and the life insurance and savings business.

Fisher Scientific International Inc. (NYSE: FSH) is a world leader in serving science. Its activities are primarily focused in the following areas: the global manufacturing, distribution and sourcing of laboratory equipment, supplies and related consumables, and the use, provision and installation of global integrated e-commerce procurement technology and related services for research and analytical testing, healthcare, science education and occupational safety.

SunGard Data Systems Inc. (NYSE: SDS) is a global leader in integrated information-technology solutions and eProcessing for financial services. The company is also the pioneer and a leading provider of high-availability infrastructure for business continuity.

Read all of Richard Moroney's commentaries, and make sure to take a look at his complete Buy List, by clicking: http://at.zacks.com/?id=85

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