Announces That Gregory Spear Highlights the Following

Stocks: General Motors, Hansen, Sun Hydraulics, and Forward Industries 
Find out why Gregory Spear, editor of The Spear Report
Professional Edition newsletter, remains cautious and defensive. Also,
read about General Motors (NYSE:GM), Hansen (NASDAQ:HANS), Sun
Hydraulics (NASDAQ:SNHY), and Forward Industries (NASDAQ:FORD). Click
here for the full story exclusively on 
Highlights from the May 11th Featured Expert column by Gregory
Spear include: 
The market reversed direction on Tuesday without reaching Gregory
Spear and his team's extreme target of S&P 1183, and proceeded to test
the 1163 support zone. The good news is that the support held. The bad
news is that the market fell on concerns of a potential collapse of
one or more large hedge funds who may have been highly leveraged in an
aggressive spread trade on General Motors (NYSE:GM). This type of
circumstance naturally triggers fears of another Long Term Capital
fiasco, which contributed to the sudden 1998 market sell-off. The
major brokerages are feeling the heat on this one, but Spear and his
team think this will prove to be a tempest in a teapot. Nevertheless,
hedge funds, which used to allow only periodic withdrawals, now offer
clients a great deal of liquidity, i.e. access to their funds. If a
major derivative snafu does occur sometime down the road, and many
hedge funds get caught on the wrong side of the trade, it will impact
the market dramatically. 
If you felt left out of the recent rallies in the Consensus
momentum favorites, you may be comforted by the fact that there was a
great deal of selling of the good news after both Hansen (NASDAQ:HANS)
and Sun Hydraulics (NASDAQ:SNHY) reported fabulous numbers yesterday.
That is a change of character for the worse compared to recent market
behavior, which has for the most part rewarded earnings strength. If
you are an active trader and are playing the gaps generated by
earnings news, take your profits quickly. Forward Industries
(NASDAQ:FORD) still has a great looking chart, however, and Spear
would buy a breakout from the recent trading range. 
Because the recent rally has been happening in the context of a
weekly downtrend, it must be regarded as an oversold bounce until
proven otherwise. A close above the 1183 mark in the S&P 500 will
signal that the bull is back. Until then, Spear and his team remain
cautious and defensive. 
Read Gregory Spear's entire commentary and check his commentaries
on a daily basis by clicking: 
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