AT Corporation is an information technology company that provides wireline and wireless communications and information services, including local, long distance, network access & Internet services, paging and information processing services. For the 9 months ended 9/00, revenues rose 8% to $5.22B. Net income applic. to Common totalled $1.70B, up from $549.5M. Results reflect increased wireless revenues and a $1.81B gain on disposal of assets.

December 14, 2000

Regional telecom Alltel is on the verge of completing a powerful technical pattern, the cup and handle. A solid break above the $65.00 resistance, accompanied by volume of over one million shares, could result in a very nice bullish move. If this break does occur, the stock should find some resistance at $69-$70, followed by the all time high of $88.94. There is a short term up trend line that should provide support at $62.00. Yesterday's low of $63.56 should provide the first level of support. The MACD is confirming the upside potential of this play because it just turned positive this week. The OBV and Money Flow are both off their highs but are starting to move back up. The RSI is indicating that there is still more upside to this stock before it becomes overbought. Our exit will most likely be dependent upon our stop strategy.

Picked on December 14th @ $64.75
Change since picked +0.00
Stopp Loss @ $61.00

December 19, 2000

Alltel is a major provider of wireline and wireless communications services. Stocks that are related to technology were simply punished today. The negative reaction to the "good" news from the FOMC meeting is indicative of the current bear market in communications stocks. Our stop of $61.00 was hit today during the latest round of selling. The shares of Alltel may eventually find good support at the 50-DMA, which closed today at $50.91.

Picked on December 14th @ $64.75
Profit/Loss -3.75 (6%) (Stopped Tuesday @ $61.00)
Best Profit +0.88 (1%)

December 17, 2000

This major wireless communications and information services provider could be on the verge of breaking through major consolidation. Although the quarter that ends this month is expected to show a small decrease of 5.27% in earnings over the same quarter a year ago, 2001 is expected to show an increase in earnings of just over 14%. This expected growth compares favorably to a P/E of only 10.53. In this market, that type of valuation constitutes low risk. If the market had not been weak on Friday, we think that the move above the $65.00 resistance would have resulted in more follow through. One good up day on solid volume, and the stock will break from a very bullish cup and handle formation. The MACD is positive and slowly rising. OBV and Money Flow are not terribly exciting, but they are heading in the right direction. The $65.63 level should provide some light resistance followed by $70.00. Short term support can be found at $63.50.

Picked on December 14th @ $64.75
Change since picked -0.31
Stop Loss @ $61.00