Todd Salamone
Senior Vice President of Research
Schaeffer’s Investment Research
Cincinnati, OH
Stock Picks 6-30-08
James River Coal: JRCC
Mines, processes and sells bituminous, low sulfur, steam and industrial grade coal
-has exposure to Central Appalachian coal, prices of which have soared 140-percent year to date
-JRCC shares up over 400 percent in this period, yet:
-Only three Wall Street analysts cover the shares; additional coverage could spur the shares higher
-The shorts are beginning to throw in the white towel: Short interest a fairly heavy nine percent of float, amid a 12 percent decrease last month. So short covering could keep this trend alive
-Anecdotally, many trying to call a top in energy, which suggests that the last of the buyers is far from jumping aboard.
Olympic Steel: ZEUS
-Last quarter, the company easily surpassed earning estimates of $0.95, with actual earnings coming in at $1.21 per share
-Stock is hitting all-time highs, as domestic steel makers benefit from less steel being exported from China
-Of the four analysts covering the shares, only one ranks ZEUS a "buy," according to Zacks Inc.
-We have seen option speculators bet against the momentum and option speculators are often wrong when trying to pick tops
-Big short interest, which makes short-covering a possibility.
Rezko's Rendezvous with Reality WBBM's Keith Johnson reports it appears convicted political fund-raiser Tony Rezko is about to help extend the federal corruption investigation. His sentencing has been delayed due to his cooperation.
Teen Shot Dead On CTA Bus A 17-year-old girl was shot to death on a CTA bus last night. WBBM's Debra Dale has details.
Voter Registration Deadline Looming The interest in the upcoming election is so intense, the Cook County Clerk's office says it's getting inundated by phone calls from people already registered to vote, wondering if they need to register again. WBBM's Steve Miller reports.
WBBM-AM 780 has been the consistent all news radio voice in Chicagoland for over 35 years and is now streaming online for free. Listen online to Chicago news as it happens around the clock, along with Chicago traffic, Chicago weather, Chicago sports and Chicago business. Subscribe to WBBM's free podcasts for additional Chicago business and Chicago community reports and listen to Chicago news on demand. WBBM news radio is also the home for Chicago Bears, Chicago Auto Show and Chicago Air & Water Show. www.wbbm780.com
