Dominion Resources is a utility holding company for Virginia Electric & Power Co. and Dominion Energy Inc. The Co. also offers financial services through Dominion Capital,Inc. For the 9 months ended 9/30/00, revenues increased 52% to $6.48B. Net income before extra. item and acct%g change fell 37% to $309M. Results reflect the inclusion of CNG revenues and increased electric service revenues, offset by purchased gas and liquid expenses.

December 10, 2000

Dominion Resources spent most of last week consolidating in the $58-$61 range, as the energy sector searches for direction. On Friday, shares of the northeastern utility company traded to an intra-day low of $58.81 on average volume of 753,000 shares. However, the stock recovered later in the session, hitting an intra-day high of $60.25 just before the closing bell. D is attempting to rally but needs to get through resistance at $60.75 or it may return to the low end of its trading range. The stock is currently trading within historic split range so we could get a split announcement following their next BoD or earnings release. Their last split announcement came out of a BoD when the stock was trading in the $45-55 range. In the meantime, support is the 20-dma at $60 with stronger support at $58.38, the 50-dma. There is resistance at Monday’s intra-day high of $60.75 and then the November 17 intra-day high of $62.69. A bounce off of $60 or a move above $60.75 on midday volume of at least 450,000 shares may be possible entry points. We are keeping our stops at $57.50 as downside protection.

Picked on November 19th @ $62.69
Change since picked –2.50
Stop Loss @ $57.50

December 14, 2000

Northeastern utility holding company Dominion Resources broke out of its trading range on Wednesday. The stock hit an intra-day high of $61.88 after three weeks of sideways trading. Volume has also picked up over the last two days, as investors return to the energy sector. On Thursday, Dominion gave back some of the gains but it did manage to bounce back from the 5-dma, keeping the upward trend alive. For now, support has moved up to the 5-dma at $60.63, with stronger support at the $60 mark. Resistance has come in at Wednesday’s intra-day high of $61.88 and then the November 17 intra-day high of $62.69. Traders should be looking for a bounce off of $60.63 or a move above $61.88 on midday volume greater than 450,00 shares before starting new plays. We are leaving our stops at $57.50 as downside protection.

Picked on November 19th @ $62.69
Change since picked –1.69
Stop Loss @ $57.50

December 12, 2000

Dominion Resources, a northeastern utility holding company, continues to trade in a tight range. In the news, mid-Atlantic utility company Conectiv Inc. has put itself on the auction block and Dominion is being viewed as the most likely acquirer. On Tuesday, shares of Dominion traded down to an intra-day low of $60 on light volume of 517,000 shares. From a technical standpoint, support is the 20-dma at $60.06 with additional support at the 50-dma, now up to $58.50. Resistance has moved up to Tuesday’s intra-day high of $60.81 and then the November 17 intra-day high of $62.69. Traders may consider starting new plays on a bounce off of $60.06 or a move above $60.81 on volume greater than 450,00 shares by midday. Our stops remain steady at $57.50 to limit losses.

Picked on November 19th @ $62.69
Change since picked –2.50
Stop Loss @ $57.50