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Book 'em, Dano: Take 22% on ABY and 3% on IP

By Ian L. Cooper

There’s nothing ABY-normal about this. It’s time to take some money off the table. Our "Dogs of the Dow" picks have been doing extremely well over the past three months.

First steel, now lumber

It would seem that our staunch free-trade advocate and fearless defender of capitalism, President Bush, in addition to creating protectionist policies for the steel industry, has decided that Canadian lumber companies are dumping their softwood lumber in the United States below cost.

The U.S. Commerce Department recommends that 29% tariffs should be imposed on US$5.7 billion worth of Canadian lumber imports. Obviously, this is not good for our Canadian lumber positions.

If you bought into my Abitibi-Consolidated (ABY:NYSE) play at US$7.31, sell it now at US$8.90 for an easy 22% gain. I’ll take that return in less than three months, anytime.

It’s also time to take profits from International Paper (IP:NYSE) off the table. We are up a modest 3%. The U.S. company has Canadian operations that are likely to suffer from these punitive measures. Doesn’t it seem like just yesterday that globalization and free trade were "good things"?

FLYING V STOCK JUMPS 25% IN TWO HOURS!!

Over the past week, the Flying V team has been keeping a close watch on a company that allows you to use your remote to click on a television commercial or program and get additional information or buy a product. Our network of spies is telling us that there is a chance of a takeover or a new partnership.

Massive up volume supports this idea.

Volume is up 1,032% from yesterday. And the chart shows that the stock just broke out of its 50-day EMA. The company’s director just bought 7,062 shares. Better yet, high-speed data subscriber growth for 2002 is on the up-and-up, particularly for the second half of the year. The cable industry’s ability to immerse itself in broadband is a strong indication of this company’s future success.

The Flying V team remains under the impression that something big is about to happen with this US$1.75 stock. The best part: it’s still not too late to buy in. Click here to find out more: http://www.flyingvonline.com.

MMM

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