Buy, Sell or Hold Recommendations for Forestry and Paper Stocks

The forest and paper stocks have cyclical price patterns so they should not be bought and held for long periods. Rather, buy a cyclical stock at a reasonable price on the upside and sell it when you have made a pre-determined profit or it is at or near its top. Use the Complete Trading Model (CTM) to help you decide when to buy and sell.

The following buy, sell or hold recommendations are based on short-term (one to two year) chart patterns and do not consider stock fundamentals such as earnings, return-on-equity, debt-to-equity ratio and price/earnings ratio.

The tables use the following notations for chart patterns: Upside (Rising), Downside (Declining), Sideways, AT = At Top, NT = Near Top, DT = Double Top, MD = Midway between top and bottom

Forest and Wood Products Stocks - Buy, Sell or Hold January 5, 2004
Stock	Symbol	Chart Pattern	Buy, Sell or Hold
Deltic Timber	DEL	Sideways (MD)	Sell
Fletcher Challenge Forest	FFS	Upside (AT)	Sell
Louisiana-Pacific	LPX	Upside (DT)	Sell
Plum Creek Timber	PCL	Upside (AT)	Sell
Rayonier Inc	RYN	Upside (DT)	Sell
Universal Forest Products	UFPI	Upside (AT)	Sell
Weyerhaeuser	WY	Sideways (NT)	Sell

Paper and Paper Products Stocks - Buy, Sell or Hold January 5, 2004
Stock	Symbol	Chart Pattern	Buy, Sell or Hold
Abitibi-Consolidated	ABY	Sideways (MD)	Hold
Albany International	AIN	Upside (AT)	Sell
Aracruz Celulose S.A.	ARA	Upside (AT)	Sell
Boise Cascade	BCC	Upside (MD)	Hold
Bowater	BOW	Upside (MD)	Hold
Domtar	DTC	Upside (NT)	Sell
Georgia-Pacific Corporation	GP	Upside (NT)	Sell
International Paper	IP	Sideways (NT)	Sell
Kimberly-Clark	KMB	Upside (MD)	Hold
MeadWestvaco	MWV	Sideways (MD)	Hold
Potlatch	PCH	Upside (NT)	Sell
Sappi Limited	SPP	Sideways (NT)	Sell
Smurfit-Stone Container	SSCC	Sideways (NT)	Sell
Sonoco Products Company	SON	Sideways (MD)	Hold
Stora Enso	SEO	Upside (NT)	Sell
UPM-Kymmene	UPM	Upside (NT)	Sell