S A ADVISORY

April - May 2000 Newsletter

CONTENTS
Important: DISCLAIMER
Market Overview
Super Fast Phone Service Recommendation
Current Sell Recommendations
Select Micro-Caps That We Monitor
Comments & New Buy Recommendations
New Buy Recommendations
NYSE Orphan Portfolio
Oil PatchPortfolio
Russian Portfolio

DISCLAIMER

SA Advisory usually buys all recommendations prior to phone service, e-mail and newsletter recommendation on mentioned securities. The editor may buy, hold or sell positions in all securities at any time. The portfolios are all hypothetical in nature SA Advisory's portfolios are geared toward sophisticated investors aiming for short, medium and long-term capital gains. By nature, the editor is a stock trader and his trading habits may vary at his own discretion. Most, if not all, recommendations are based upon strict fundamental analysis. Revenue and earnings estimates are the foundation for our recommendations. The estimates result from management discussion. We do not intend to misinform, mislead or hype our readers. It is prudent for all investors to review all filings with the SEC (10Q & 10K) and contact management before investing. Investing in securities are inherent to risks to your financial health. If we are ever paid to produce a corporate profile, full disclosure will be made.

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MARKET OVERVIEW

1. Tech stocks in major correction mode.
2. Dot coms look DOA.
3. S & P 500 dogs will become the darlings.
4. Penny stocks ran into a brick wall and may not recover til Fall.
5. Dow components entering narrow trading range.
6. Oils look fully priced.
7. Fad stocks - wireless, biotech - heading back to earth.
8. Fed's action has capped any major advance. We see two to three additional tightenings until election season.
9. Gore and Bush - will result in lowest voter turnout in the history of the U.S.
10. We have now entered a STOCK PICKER'S MARKET - GEARED TOWARDS VALUE!

Yours truly,
William Velmer


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SUPER FAST PHONE SERVICE RECOMMENDATION

This Service is a must for the serious investor! We communicate with the subscriber on a one-to-one basis. Quick Market Action, in many cases, secures extra profits or limits further loss. S.A. phone can be activated at any moment in time. We are personalized investor buy and sell communications.

Subscription Form
As of April 3, 2000

1 yr investment letter • 8 to 12 issues -----------------$80
1 yr investment letter with super-fast telephone service-$650.00
6 mo. invest. letter with super-fast telephone service --------$450.00
1 year telephone service & letter plus access to communicate with S.A.
any time through private telephone number-$1,200.00

Make checks payable and mail to:
S.A. ADVISORY
2274 Arbor Lane #3 • Salt Lake City, UT 84117
(801) 272-4761

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S A ADVISORY