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

January 4, 2001

Dominion Resources sold off on Wednesday after Greenspan & Co. cut the Fed Funds rate by 50 basis points. Shares of Dominion fell to an intra-day low of $60.25, hitting our stops at $64 along the way. Therefore, we are dropping the stock from our play list.

Picked on November 19th @ $62.69
Profit/Loss = +1.31 (+2%) (Stopped out Wednesday @ $64.00)
Best Profit = +5.25 (+8%)

January 3, 2001

Hit stop, write-up to follow

January 2, 2001

Utility holding company Dominion Resources was under some pressure on Tuesday on profit taking in the energy sector. Shares of Dominion hit an intra-day low of $64.56 before bouncing back to a close of $65.56 on volume of 524,000 shares. The stock traded through the 10-dma for the first time since December 11th and the light volume may be signaling a trend reversal. For now, support is the 10-dma at $65.19 with stronger support at $64.13, the December 22nd intra-day low. Resistance has moved down to the 5-dma at $65.63 and then the all-time high of $67.94. A bounce off of $65.19 or a move above $65.63 on midday volume greater than 400,000 shares may be possible entry points. We are keeping our stops at $64 to lock in profits.

Picked on November 19th @ $62.69
Change since picked +2.88
Stop Loss @ $64.00

December 31, 2000

Dominion Resources is a utility holding company with a total production capacity of 2.7 trillion BTUs per day. On Friday, shares of Dominion traded to an intra-day low of $66.19 before bouncing back to close at $67 on volume of 454,000 shares. The stock has been consolidating over the past three sessions and Dominion could spend some time in the $66-$68 range. Hopefully, the volume will return next week and push the stock to new highs. Shares of Dominion are currently trading above historic split range, so we could get a split announcement following their next BoD or at their next earnings release set for 01/26/01. Their last split announcement came out of a BoD when the stock was trading in the $45-55 range. Until then, support has come in at $65.88, Wednesday’s intra-day low, with additional support at the 10-dma, currently at $64.75. Resistance is holding at $68 and then $70. Traders may consider opening new positions on a bounce off of $65.88 or a breakout above $68 on volume of at least 400,000 shares by midday. Our stops remain at $64.

Picked on November 19th @ $62.69
Change since picked +4.31
Stop Loss @ $64.00