Option Investor
Newsletter

Daily Newsletter, Tuesday, 02/14/2006

HAVING TROUBLE PRINTING?
Printer friendly version

Table of Contents

  1. Market Wrap
  2. New Option Plays
  3. In Play Updates and Reviews

Market Wrap

Valentines Present

Traders were pleasantly surprised today when a combination of factors converged to produce a strong market bounce. While this was not the kind of Valentines present they expected I doubt anyone turned it down. The Dow rallied back over 11000 to test highs for the year with the intraday high coming within .08 of equaling the January high of 11047.76. It was strictly a Dow day with the Nasdaq still closer to a six week low than a new high. The S&P stalled right at the 1275 resistance we have been watching for weeks and well below the 1295 high for the year. Big caps are favorite hiding places for big money when market direction is questionable and it appears they were the recipients of those funds today.

Dow Chart - Daily

Nasdaq Chart - 120 min

SPX Chart - 120 min

The morning started off positive after a very strong retail sales report for January soared +2.3% and more than twice the consensus estimate of only +1.0%. Year over year sales surged to +8.8% overall and +9.9% if you exclude autos. This sudden burst of consumer spending caught everyone off guard. January strength came from Furniture and Home Furnishings at +3.7%, Building Materials +3.4%, Clothing +4.2% and Food Service +3.2%. The biggest gain came from Gasoline Stations, which rose +5.5% on higher gasoline prices, +22.7% year over year. The strong headline number was the biggest gain since May-2004. The strong numbers were also the result of the warmest January on record in many states. Shoppers were free to wander with 50-degree days and very little frozen precipitation. That is in sharp contrast to February with the northeaster shutting down much of the east coast for several days. This should put the skids on the February sales numbers but that fact was ignored today.

Despite the good retail news the markets struggled to remain in positive territory for the first hour of trading. Suddenly at 10:30, just like we have seen twice before over the last week a strong buy program was triggered, which forced shorts to cover. Shortly after the start of the buy program the price of oil began to dive. Those still clinging to their crude positions saw a break of $60 looming and elected to bail. The Transports caught fire as oil prices imploded and the index rallied to gain +109.45 and close at a new historic high of 4408. Oil eventually broke the $60 level to close at $59.60 but continued lower to $59.32 when the evening session began.

While the drop in oil may have been a contributing factor to the transport rally it was really neutral for the broader indexes. According to several respected analysts and technicians including Art Cashin it was simply short covering ahead of the Bernanke testimony on Wednesday and was stimulated by the morning buy program. The markets have had a negative bias for the last few days and three times in the last six days we have seen sudden buy programs squeeze those short positions.

The talking heads were irrationally exuberant about the Dow's return to 11047 but tended to overlook the fact that the Nasdaq, NDX, S&P, Russell and NYSE Composite were still showing a negative bias. Bottom line, cash is flowing into the big caps as a safe haven in times of market instability. Economic reports have taken a sharp turn higher indicating a growth surge underway in the current quarter but news like we saw from KB Homes today suggests there is still trouble under the hood. Bernanke's testimony tomorrow is expected to take a hawkish tone and investors were leery ahead of the event.

Advertisement

TradeKing offers $4.95 trades to everyone. Same price - market or limit - no price tiers. Add just $.65 per option contract. Get a great value in a Web-based brokerage with free option tools, scanners, charts and the "must-have" probability calculator. TradeKing features power tools for the wired investor - free blog publishing editor and RSS newsreader integrated right into your trading platform. Click here to check out TradeKing.

www.tradeking.com/AdTrack/optinvemail1Q106/HOME

KB Homes said today that it might have to revise its revenue forecast for the year due to slowing sales and a higher rate of cancellations. In an SEC filing the company said business had slowed significantly over the last two months. Rising interest rates, now up to 7% in some areas and the constant talk about a bursting housing bubble have prompted many buyers to reconsider their plans. We heard the same thing from Toll Brothers last week. Toll builds homes for the high end of the market and the higher priced buyers were the first to close their wallets. KB Homes build homes that are more affordable with many homes in the entry-level range for first time buyers. This weakening across the full range of buyers is a strike against the case for a stronger economy in Q1.

Some analysts feel this weakness will be made apparent when Bernanke testifies on Wednesday and big caps are where you want to be if the economy is slowing. However, there are just as many analysts raising their estimates for Q1 GDP with some estimates now reaching +5.0%. These competing views on the health of the economy are complicating not only the search for market direction but also the outlook for interest rates. Fed funds futures are pricing in a 5% rate by June but fully 38% of analysts polled expect at least three more increases. Bernanke's testimony on Wednesday will be one of the most watched events in years. Bernanke will be expected to describe his economic outlook, methodology and what the financial community can expect in the near future. Because his testimony is expected to be somewhat hawkish it is possible we could get a relief bounce if he comes off as bullish in any form. That potential was probably what prompted the short covering to be as strong as it was on Tuesday. Market neutral was probably the place to be heading into Wednesday and meant closing shorts when the morning buy program appeared.

Helping provide direction for the energy sector was a very surprising warning by Transocean Offshore (RIG). RIG said operating and maintenance costs would exceed year ago levels by $30 to $70 million in Q1 and by $70 to $90 million in Q2. RIG said higher shipyard and reactivation expenses in addition to higher operating costs were the reasons. Rigs are being pressured for constant uptime and that means maintenance issues are being postponed until the last minute and sometimes requiring more serious repairs. Harsher conditions, deeper water and damage from the hurricanes forced many rigs to be returned to a shipyard for extensive upgrades and repairs. Those rigs with the most capabilities and highest day rates are also the ones with the most maintenance. This pressured earnings for RIG and they missed estimates by a penny. RIG lost -$6.49 for the day and pulled all the other drillers and service companies lower. Examples include NBR -2.35, SLB -3.03, NOV -2.57, ATW -2.56, HAL -1.74, BHI -2.07.

Crude Oil Chart - Daily

The RIG warning was even more detrimental to the sector with oil prices falling through the $60 level. The double punch produced broader sector weakness as prices neared support at $58. As we near $58 the potential for bargain hunting grows with each nickel lost. The $58 level will be the real test for oil as that was the support lows in Nov/Dec for the current contract. This is also where OPEC should start making noises about production cuts in an effort to support the price. I am a buyer of energy stocks this week with an expectation of support appearing at that $58 level. Iran should start moving back into the spotlight next week as their meeting with Russia over enriching uranium on Russian soil begins. This is the last hope for the Iran problem to go away. Iran announced today that they had begun attempts to enrich uranium at a faster rate now that the IAEA cameras and controls had been removed. Russia has offered to produce reactor fuel for them on Russian soil but up until now Iran has declined the offer. Russia also offered to sell them a lifetime supply of fuel for their reactor for the paltry sum of $35 million, only a fraction of what it is worth. Iran's rejection of these offers seems to prove to the world that their goals are not peaceful as they claim. Otherwise why not take the offers and escape world condemnation. If next weeks discussions with Russia end quickly without any agreement then oil prices are sure to rise. The confrontation with the UN is expected to dominate the news once the February calendar expires.

With option expiration only 3 days away Wednesday's oil and gas inventories are sure to produce some further movement in the sector. Inventories are expected to show another build and traders holding call options will be dumping them after the announcement. Last weekend's blizzard should not have any impact on the numbers reported tomorrow. Natural gas inventories will be reported on Thursday and despite the expected draw from the blizzard the price of gas is not expected to rise significantly. With supplies more than 25% over the five year average it is only a matter of days before we see prices under $7.

The falling oil prices sent transports soaring to a new historic high with the standouts being railroads but airlines were also flying high. Continental and AMR both moved to new 52-week highs but their gains were nothing compared to Burlington Northern (BNI) +2.77 and Union Pacific (UNP) +2.66. UPS added +0.89 but FDX was the package-shipping star at +2.58. UHAL added +4.20.

Google did not join the rally and continued its downward plunge with a close at $343.33. Copper stocks had been setting new lows but today's rally saw buyers move back into the oversold sector. Phelps Dodge gained +4.96, Rio Tinto +5.45 and Southern Copper +3.06. Titanium Metals reversed a weeklong slide of -15 points with a +3.46 rebound. Home Depot and Lowes also rebounded out of their multi-week decline with decent gains. Banks and financials also found buyers with CME adding +8.77, Lehman +4.12 and Blackrock +3.97 to lead the sector.

Apple was the only tech stock to stand out from the crowd with a +2.93 gain but after the -$22.80 decline from the January highs it was simply an oversold bounce and not a revival. The Nasdaq is still showing a negative bias with the Semi book-to-bill due out on Thursday. The major semi stocks showed no life ahead of the report and failed to take part in today's rally with minimal gains of only a few cents each. AMD was the only exception with a gain of +1.26. Without the semiconductors the Nasdaq remains listless. The rebound today may have added +22 points but the close was still under Friday's high of 2266, which was also the high for today. This rebound came after a new six-week low was set on Monday at 2232. Despite the rebound the Nasdaq is still maintaining a negative bias and there appears to be no excitement on the horizon to break the trend. The NDX rebounded from its six week low around 1637 to add +16 points but that was still another lower high in the series that began back on January 11th. A break of support at the 1637 level will be a new three-month low and target 1550.

NYSE Composite Chart - 120 min

NDX Chart - Daily

The Russell 2000 also rebounded from Monday's three-week low of 708 adding +9 but like the Nasdaq it is still in a short term down trend. After the morning spike the SPX battled resistance at 1275 all afternoon and closed right at that level. This was only slightly higher than the 1274 high hit last Thursday. The SPX is also locked in a downtrend since the January high at 1295 with strong resistance just overhead. The NYSE Composite has been trading mostly in a range from 7925 to 8050 and today was no exception other than a stall at 8030 and almost exactly where it stalled on the last two attempts.

Make no mistake. Despite the Dow's return to its highs the rest of the indexes are still showing a negative bias. The Dow may have retested its highs on the strength of the blue chip buy programs but the rest of the market is not following the generals. Until there is confirmation from the troops it is just big money flowing into the safety of blue chips. Fund managers are raising cash with cash levels rising from 3.5% to 4.1% over the past two weeks. Bonds are being sold with yields rising ahead of the Bernanke testimony. Some of that "cautious money" is making its way into the blue chips on the outside chance the +1.1% GDP in Q4 was a hurricane fluke and the Q1 GDP is going to show a strong rebound in progress.

My recommendation for the rest of the week will remain the same. Be cautiously long over 1275 and short under 1270 until conditions change. Those conditions could change based on what Bernanke says and how he says it. I am sure the interrogation squad will at least be happy that they can understand the answers to any question posed. The days of asking an aide what Greenspan really meant have passed. Bernanke does use a clearer form of English with some sarcasm that has gotten him into trouble in the past. I expect him to be very precise tomorrow in his first appearance as the new Fed head. How the markets react will be anybody's guess. With the Dow adding +136 points to end at its resistance highs we could see some profit taking ahead of the testimony. After that it is up to helicopter Ben to set the direction.
 


New Plays

New Option Plays

Call Options Plays
Put Options Plays
Strangle Options Plays
BZH None None
CHS    
HIG    

New Calls

Beazer Homes - BZH - close: 64.58 change: +0.94 stop: 62.29

Company Description:
Beazer Homes USA, Inc., headquartered in Atlanta, is one of the country's ten largest single-family homebuilders with operations in Arizona, California, Colorado, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia and also provides mortgage origination and title services to its homebuyers. (source: company press release or website)

Why We Like It:
Our bearish play in MTH has not panned out very well. Yet the homebuilding sector has been showing relative weakness for about a month now. We suspect that the group looks due for an oversold bounce. BZH could lead the bounce after today's test of support near the simple 200-dma. We are trying to call a short-term bottom here and that's a risky proposition. Consider this an aggressive, speculative play. BZH still has multiple levels of overhead resistance between here and our target in the $69.85-70.00 range. We are going to use a trigger at $65.05 to open the play.

Suggested Options:
If triggered we are going to suggest the March calls.

BUY CALL MAR 60 BZH-CL open interest= 183 current ask $6.20
BUY CALL MAR 65 BAD-CM open interest= 691 current ask $2.95
BUY CALL MAR 70 BAD-CN open interest=1072 current ask $1.15

Picked on February xx at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 01/19/06 (confirmed)
Average Daily Volume = 1.2 million

---

Chico's FAS - CHS - close: 47.61 change: +2.76 stop: 44.49

Company Description:
The Company is a specialty retailer of private label, sophisticated, casual-to-dressy clothing, intimates, complementary accessories, and other non-clothing gift items. The Company operates 780 women's specialty stores, including stores in 47 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico operating under the Chico's, White House | Black Market, Soma by Chico's and Fitigues names. The Company owns 501 Chico's front-line stores, 31 Chico's outlet stores, 197 White House | Black Market front-line stores, 8 White House | Black Market outlet stores, 15 Soma by Chico's stores, 12 Fitigues front-line stores and 2 Fitigues outlet stores; franchisees own and operate 14 Chico's stores. (source: company press release or website)

Why We Like It:
Positive economic news helped send the retail stocks soaring higher today. This fueled a bullish breakout in shares of CHS. The stock rallied to a new high on very strong volume. We are going to suggest call positions here but our preferred entry point would be on a pull back toward the $46.00 level, which should act as short-term support. Our target is the $52.00-52.50 range. The P&F chart points to a $64 target. We do not want to hold over the early March earnings report.

Suggested Options:
We are suggesting the March calls.

BUY CALL MAR 45 CHS-CI open interest=1740 current ask $4.10
BUY CALL MAR 50 CHS-CJ open interest= 752 current ask $1.35

Picked on February 14 at $ 47.61
Change since picked: + 0.00
Earnings Date 03/01/06 (confirmed)
Average Daily Volume = 1.8 million

---

Hartford Fin. Srv. - HIG - cls: 82.12 chg: +1.38 stop: 79.49

Company Description:
The Hartford, a Fortune 100 company, is one of the nation's largest financial services and insurance companies, with 2005 revenues of $27.1 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, Brazil and the United Kingdom. (source: company press release or website)

Why We Like It:
The IUX insurance index is on the rebound and shares of HIG look poised to take advantage of it. HIG has a consistent pattern of bouncing from technical support at the 200-dma. Shares have spent the last week building support near $80.00 and its 200-dma so today's rally above the 10-dma looks like a new entry point for calls. The MACD is nearing a new buy signal and short-term oscillators are turning bullish. There is still resistance overhead so we'll need to be diligent on watching our stop loss. The biggest challenge will probably the $85 level. More conservative traders may want to exit near resistance at $85.00. We're going to target the $87.50-90.00 range.

Suggested Options:
We are suggesting the March calls.

BUY CALL MAR 80 HIG-CP open interest=1092 current ask $3.10
BUY CALL MAR 85 HIG-CQ open interest= 826 current ask $0.75

Picked on February 14 at $ 82.12
Change since picked: + 0.00
Earnings Date 01/26/06 (confirmed)
Average Daily Volume = 1.1 million
 

New Puts

None today.
 

New Strangles

None today.
 


Play Updates

In Play Updates and Reviews

Call Updates

Cigna - CI - close: 121.69 change: +2.00 stop: 117.85

Today's bounce back above the $120.00 level is certainly encouraging but we are going to remain cautious until CI trades back above the $124 level. Otherwise the stock is in danger of merely filling the Monday gap down and turning lower again. The P&F chart remains bullish and weeds out a lot of the daily noise so if you're a P&F chart believer then this rebound today may be a new entry point to buy calls. Our target is the $129.50-130.00 range.

Picked on February 12 at $123.63
Change since picked: - 1.94
Earnings Date 02/08/06 (confirmed)
Average Daily Volume = 979 thousand

---

Express Scripts - ESRX - close: 91.83 chg: +0.20 stop: 88.45*new*

The trading in ESRX should be a concern if you're long calls. The market produced a relatively widespread rally today yet shares of ESRX could not muster enough momentum to breakout over resistance at the $93.00 level. At this point we would not consider new bullish positions until ESRX trades over $93.00. We are going to inch our stop loss up to $88.45 putting it closer to the 50-dma. Our target is the $99.50-100.00 range. We do not want to hold over the late February earnings report so that only gives us about a week and a half but so far the 22nd earnings date is unconfirmed.

Picked on January 29 at $ 92.42
Change since picked: - 0.60
Earnings Date 02/22/06 (unconfirmed)
Average Daily Volume = 2.1 million

---

Lehman Brothers - LEH - cls: 141.93 chg: +4.12 stop: 134.49

Broker-dealer stocks turned in a big day. The XBD index surged 1.68% and is trading near a new high. Shares of LEH are leading the way with a 2.98% gain and a new record-setting close. Our target is the $144.95-145.00 range. More aggressive traders could aim higher maybe $149.

Picked on February 12 at $137.50
Change since picked: + 4.43
Earnings Date 03/14/06 (unconfirmed)
Average Daily Volume = 2.0 million

---

Universal Health - UHS - close: 49.41 chg: +0.06 stop: 48.49

There is still no change from our previous updates. Our strategy is to try and capture a breakout over resistance near $50.00. We are using a trigger at $50.51 to open the play. If UHS trades at or above $50.51 then the play is open and we're targeting a run into the $54.50-55.00 range. We do not want to hold over the February 27th earnings report so we only have about two weeks for the play to be triggered and then for shares to run higher.

Picked on February x at $ xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 02/27/06 (confirmed)
Average Daily Volume = 613 thousand
 

Put Updates

Cameco Corp. - CCJ - close: 68.12 change: +0.22 stop: 72.56

There was a pretty good rebound in metal and mining stocks today. Thankfully shares of CCJ under performed the market and its peers. That doesn't mean that traders should not act cautiously here. Watch the $70 level and its 10-dma (now at 70.18) to act as short-term overhead resistance. Our target is the $61.50-60.00 range.

Picked on February 07 at $ 68.57
Change since picked: - 0.45
Earnings Date 01/31/06 (confirmed)
Average Daily Volume = 1.1 million

---

Intl Bus. Mach. - IBM - close: 81.09 change: +0.65 stop: 82.05

Technology stocks produced a decent bounce today as well but IBM managed to lag behind its peers. Shares remain above the $80.00 level and thus we're in danger of being stopped out if the market rally continues. We would not suggest new plays until IBM traded under $80.00 or better yet under $79.50 again. Our target is the $75.25-75.00 range.

Picked on February 06 at $ 79.49
Change since picked: + 1.60
Earnings Date 01/17/06 (confirmed)
Average Daily Volume = 6.0 million

---

Johnson Controls - JCI - cls: 68.00 chg: +1.26 stop: 68.65*new*

The bullish reversal today, mostly likely fueled by short covering, is bad news for our put play in JCI. We strongly considered exiting early right here. More conservative players might do well to do just that. Instead we're going to inch our stop loss down to $68.65. Our current target is the $65.50 level.

Picked on January 25 at $ 69.90
Change since picked: - 1.90
Earnings Date 01/20/06 (confirmed)
Average Daily Volume = 955 thousand

---

MGIG Invest. - MTG - close: 63.86 change: +0.88 stop: 66.05

Today's rally in MTG may prove to be another entry point. Shares rallied to $64.42, near its exponential 200-dma, before turning lower again. While this might look like the sort of failed rally we could short we would wait for a move back under $63.40 before considering new positions. More conservative traders may want to tighten their stop losses. Our target is the $58.00-57.50 range.

Picked on February 06 at $ 63.70
Change since picked: + 0.16
Earnings Date 01/12/06 (confirmed)
Average Daily Volume = 833 thousand

---

Meritage Homes - MTH - close: 58.49 chg: +0.60 stop: 61.11

Homebuilders rallied along with the rest of the market but shares of MTH failed to gain much purchase. We would not be surprised to see shares make another run at the $60.00 mark before turning lower again. Our target is the $52.00 level and this coincides with the P&F chart's target at $52.

Picked on February 02 at $ 58.76
Change since picked: - 0.27
Earnings Date 01/26/06 (confirmed)
Average Daily Volume = 560 thousand
 

Strangle Updates

(What is a strangle? It's when a trader buys an out-of-the-money (OTM) call and an OTM put on the same stock. The strategy is neutral. You do not care what direction the stock moves as long as the move is big enough to make your investment profitable.)

---

Building Materials - BMHC - cls: 68.67 chg: -0.70 stop: n/a

The intraday trading action in BMHC actually looks like a new entry point to buy puts with the failed rally at the $70.00 level. With regards to our strangle play we are not suggesting new strangle positions at this time. The options in our strangle play are the March $90 calls (BGU-CR) and the March $70 puts (BGU-ON). Our estimated cost is $8.20. Our target is $12.50 by March expiration.

Picked on December 18 at $ 80.95
Change since picked: -12.28
Earnings Date 02/07/06 (confirmed)
Average Daily Volume = 527 thousand

---

Encana Corp. - ECA - close: 41.32 chg: -0.44 stop: n/a

Oil stocks were the weak sector in the market today with crude oil sliding under $60.00 a barrel. Natural gas futures sank to a new one-year low. We are not suggesting new strangle positions. Our strangle strategy involves the April $50 calls (ECA-DJ) and the April $40 puts (ECA-PH). Our estimated cost is $3.45. We are aiming for a rise to $5.95.

Picked on January 10 at $ 45.56
Change since picked: - 4.24
Earnings Date 02/15/06 (confirmed)
Average Daily Volume = 4.4 million

---

Loews Corp. - LTR - close: 96.12 change: +0.40 stop: n/a

Shares of LTR did not move much today in spite of the rally. Odds are that investors are waiting to hear the company's earnings report due out on Thursday morning. We are suggesting a strangle to take advantage of any post-earnings volatility. This is a high-risk speculative play. Buying this strangle is a bet that LTR will be trading at more than $102 (above resistance) or less than $88 (under support) by March expiration. The options in our strangle are the March $100 calls (LTR-CT) and the March $90 puts (LTR-OR). Our estimated cost is $1.75.

Picked on February 13 at $ 95.72
Change since picked: + 0.00
Earnings Date 02/16/06 (confirmed)
Average Daily Volume = 513 thousand

---

Ryland Group - RYL - close: 67.72 change: +1.20 stop: n/a

We do not see any change from our weekend update on RYL. We're not suggesting new strangle positions. Our play involves the April $80 calls (RYL-DP) and the April $70 puts (RYL-PN). Our estimated cost is $7.00. Our target is $12.00.

Picked on January 22 at $ 75.19
Change since picked: - 7.47
Earnings Date 01/24/06 (confirmed)
Average Daily Volume = 1.1 million
 

Dropped Calls

None
 

Dropped Puts

Ambac Fincl. - ABK - close: 77.13 change: +1.65 stop: 78.05

We are choosing an early exit and suggest readers follow suit. Today's 2% gain in ABK was fueled by stronger than average volume and the stock has broken out above its month-long trend of lower highs. There is still some resistance near $78 but we'd rather exit now to minimize any losses.

Picked on February 05 at $ 76.09
Change since picked: + 1.04
Earnings Date 01/25/06 (confirmed)
Average Daily Volume = 463 thousand

---

Administaff - ASF - close: 39.83 change: +1.53 stop: 41.75

Our plan was to exit on Wednesday afternoon to avoid the Thursday earnings report. Unfortunately, today's big rebound in the stock price looks like a good reason to exit early. Shares did fail to close over round-number resistance at $40.00 so more aggressive traders might want to hold on to it for another day and exit tomorrow as planned.

Picked on February 08 at $ 39.90
Change since picked: - 0.07
Earnings Date 02/16/06 (confirmed)
Average Daily Volume = 367 thousand

---

Ipsco Inc. - IPS - close: 90.21 chg: +4.11 stop: 90.01

The wide spread rally today sparked some short covering and the shorts were hit pretty hard in the steel industry. IPS managed to rally sharply and trade back above round-number, psychological resistance at the $90.00 level. We were stopped out at $90.01.

Picked on February 10 at $ 85.90
Change since picked: + 4.31
Earnings Date 02/06/06 (confirmed)
Average Daily Volume = 343 thousand
 

Dropped Strangles

None
 

DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

To ensure you continue to receive email from Option Investor please add "support@optioninvestor.com"

Option Investor Inc
PO Box 630350
Littleton, CO 80163

E-Mail Format Newsletter Archives