PremierInvestor.net Newsletter Wednesday 06-20-2001 section 1 of 2 Copyright © 2001, All rights reserved. Redistribution in any form is strictly prohibited. ! SPECIAL NOTE ! You are receiving this email because you are a current subscriber or a current free trial member to SplitTrader.com, NetBulls.com, or StockBottom.com. Together all three sites have merged to form a new and improved investment newsletter for today's discerning investors: PremierInvestor.net The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= To view this email newsletter in HTML format with imbedded charts and graphs, click here: http://www.PremierInvestor.net/htmlemail/4105_1.asp ================================================================= In section one: Market Wrap: Average or above average? Market Sentiment: The Times They Are A-Changin' Watch List: GILD, VSEA, RATL, DNA ----------------------------------------------------------------- U.S. Market Numbers ----------------------------------------------------------------- MARKET WRAP (view in courier font for table alignment) ----------------------------------------------------------------- 06-20-2001 High Low Volume Advance/Decline DJIA 10647.33 + 50.66 10702.07 10563.86 1.34 bln 1828/1269 NASDAQ 2031.24 + 38.58 2032.67 1973.70 1.53 bln 1927/1816 S&P 100 634.05 + 7.39 635.74 625.48 totals 3755/3085 S&P 500 1223.14 + 10.56 1225.61 1210.07 54.9%/45.1% RUS 2000 495.86 + 7.13 495.87 487.25 DJ TRANS 2665.30 + 4.72 2670.41 2634.39 VIX 23.86 - 1.06 25.28 23.70 Put/Call Ratio 0.56 ----------------------------------------------------------------- =========== Market Wrap =========== Average or above average? From time to time, I think it's very helpful for traders and investors to simply try and make things as simple as possible. When I first started to learn about technical analysis I started out very simple using some very basic charting tools to ascertain and even "rank" sectors based on where they were trading as it related to their 50-day and 200-day moving averages. We often times point to these moving averages as somewhat of a benchmark to measure against. From time to time, I get e-mail where the subscriber is "confused" because the technical analysis is too complex. So, lets take a very basic approach and lets rate some of the major indexes and even sectors against their 50-day and 200-day moving averages. For this analysis, lets assume the 200-day moving average is the LONG TERM and the 50-day is INTERMEDIATE TERM. In our analysis, lets also conclude that an index trading above its 50-day and 200-day MAs is stronger and perhaps building strength. Let's also assume then that a 50-day MA trending above the 200- day and headed higher is an indication of strength. Let's start with the Dow Industrials and rate it first, then compare some other indexes to get a better feel for sector/market strength and where our money has the best chance to grow should the moving averages continue in current direction. Dow Industrials Chart - last eleven months A trader or investor looking for similarities as it relates to current trading in the Dow Industrials might key in on how the moving averages look very similar to how they looked back in September of 2000. Back then as they are today, the 50-day MA is just above the 200-day. The only difference right now is that the Dow Industrials have not closed too far below the 200-day MA and I'd interpret this as somewhat bullish. I can make note of this today and perhaps understand that trading much below the recent lows for this index, say 10,560 would be an alert to further weakness. Should I see the index start trying to get back above the 50-day MA at 10,815 this would differ GREATLY from September of 2000 and would indicate that bullishness continues to build. S&P 500 Index - last eleven months I remember when I was a kid my mother used to say, "Jeff, you keep hanging around with that James Brown character and you're going to get into trouble." My mother was talking about guilt by association and often times that same type of association can be drawn with certain stocks in an index. If we understand the make up of the S&P 500 and the components of it we can perhaps draw the conclusion that there are more technology stocks in the SPX than in the Dow Industrials. That doesn't mean there aren't some technology stocks that might not show promise, but we can see the SPX does look weaker than the Dow Industrials based simply on its moving averages. NASDAQ Composite Index - last eleven months Much like the S&P 500, the NASDAQ Composite would rank low on bullishness relative to its moving averages. I'd also make a side note of how this index has had more of a tendency in recent sessions to violate the previous day's low. While this index probably has more upside short-term than the Dow Industrials, that upside doesn't come without RISK! That risk is the amount of downside that could also be experienced. I hear my mom still saying... "If you hang around that James Brown you're going to get into trouble." Now, does this mean I swear off my friendship entirely with my imaginary friend NASDAQ Composite? No, not entirely, but if I limit the amount of time I stick with him until he grows out of his childish and dangerous ways, then I stand a better chance of making something out of my account. Here's a friend that also lives in the same neighborhood as Mr. NASDAQ, but its chart shows some of the qualities that my mom would have rather had me hang out with during my younger years when I was most impressionable. Biotechnology Index Chart - last eleven months But mom, you don't understand. Not all of my friends with long black hair are a bad influence. While it is true that biotechnology stocks are considered more aggressive investments, a trader simply "judging" the group against its moving averages would probably come to the conclusion that this group is looking stronger than the S&P 500 and the NASDAQ Composite. There are a lot of traders and investors that feel the only way they can make a lot of money in the market is to invest or trade in high growth potential areas of the market. If this is you, then look for stocks in this group to have a better chance short-term for showing gains. My argument for looking long some biotech stocks is this. If the NASDAQ and S&P 500 were going to head higher, then I'd expect the Dow Industrials to show technical strength going forward. If this happens, then look for the technically stronger Biotechnology Index (BTK.X) to lead the way. If we believe (at least I believe) that the strong stocks lead an advance and lag a decline, then biotech would be the better place for aggressive traders to be focusing. As simple as the above analysis seems, test it against what we've seen happen with the Networking Index (NWX.X) in the past eight sessions. In that time frame, the NWX.X broke back below its DOWNWARD trending 50-day MA, which was below its DOWNWARD trending 200-day MA and has declined some 23%. In the last eight trading sessions the BTK.X has declined 3.3%, but today's close above the 200-day MA at least gives some type of bullish bias to this group of stocks. Based simply on moving averages, a trader might at least give some stocks in this group a shot. Start pulling up some charts, but don't reinvent the wheel. If you like the above outline of simply comparing stocks against their 50-day and 200-day MA's, then judge some biotech stocks on the same principles. Don't go buying biotechnology stocks that are trading below their 50-day and 200-day MA's. Try finding stocks that are trading as strong if not stronger than the MARKETS and SECTORS that you're measuring against. Here's some biotech stocks to perhaps be looking long that look strong compared to the moving averages we've described. Don't load the truck up and put all your faith in a newfound friend. Just like you would do with a new friend, make that friend earn your trust. Give them a little rope to begin with and if they treat you right, then begin committing more to that friendship (in the form of your hard earned money.) BGEN, BIO.A, CEPH, CHIR, CRL, DP, EMBX, ENZN, GENZ, GILD, GLGC, ICOS, IDPH, IGEN, IMCL, KNDL, OSUR, REGN, SCIO, SERO, SFC, SP, VYSI, XOMA. What I did here is simply screen these stocks for strong relative strength verses the Dow Industrials and looked for stocks where their 50-day MA (intermediate-term trend) was above their 200-day MA (longer-term trend). Don't be surprised if you see some of these stocks show up in our watch list soon! Jeff Bailey Senior Analyst ================ Market Sentiment ================ The Times They Are A-Changin' By Jeffrey Canavan Yesterday I thought that cautiously optimistic was a good way to describe the current market sentiment, but it might be time to remove the word cautious. By all rights the slew of earnings warnings we received should have sent the markets tumbling this morning, but after a brief sell off, stocks managed to stage a small rally. Sellers then tried to fight back and push the markets lower, but buyers were able to step in and save the day. The market sentiment must be improving, because the same type of news in February or March would have easily dropped the Nasdaq 50 points, and the VIX would have spiked up to 37. Instead the Nasdaq finished up 38 points, and the VIX fell another point to 23.86. I wouldn't exactly use the word bullish to describe the current situation, but you can start to see the buyers lining up on the sidelines waiting for something to give them a reason to buy. At the same time, only a fool would rush in right now and load up on networking or telecom stocks under current conditions. The line it is drawn The curse it is cast The slow one now Will later be fast As the present now Will later be past The order is rapidly fadin' And the first one now Will later be last For the times they are a-changin' Apologies to Bob Dylan ----------------------------------------------------------- VIX Wednesday 06/20 close: 23.66 VXN Wednesday 06/20 close: 54.52 30-yr Bonds Wednesday 06/20 close: 5.66 Total Put/Call Ratio: .60 Equity Option Put/Call Ratio: .51 Index Option Put/Call Ratio: 1.32 ----------------------------------------------------------- NASDAQ 100 Index (NDX/QQQ) 52-Week High: 103.51 52-Week Low: 33.60 Current close: 42.77 Volume/Open Interest Maximum calls: 50/93,940 Maximum puts : 40/54,266 Moving Averages 10 DMA 44 20 DMA 45 50 DMA 45 200 DMA 61 ----------------------------------------------------------- S&P 100 Index (OEX) 52-Week High: 834.93 52-Week Low: 548.16 Current close: 634.05 Volume/Open Interest Maximum calls: 650/4,891 Maximum puts : 600/6,346 Moving Averages 10 DMA 638 20 DMA 647 50 DMA 645 200 DMA 685 ----------------------------------------------------------- S&P 500 (SPX) 52-Week High: 1530.01 52-Week Low: 1081.19 Current close: 1223.14 Volume / Open Interest Maximum calls: 1275/13,024 Maximum puts : 1200/24,791 Moving Averages 10 DMA 1237 20 DMA 1254 50 DMA 1245 200 DMA 1311 ----------------------------------------------------------- DJIA (INDU) 52-Week High: 11,518.83 52-Week Low: 9,047.56 Current close: 10,647.33 Volume / Open Interest Maximum Calls: 114/ 6,915 Maximum Puts 108/17,707 Moving Averages: 10 DMA 10,801 20 DMA 10,918 50 DMA 10,815 200 DMA 10,624 ----------------------------------------------------------- CBOT Commitment Of Traders Report: Friday 06/15 Weekly COT report discloses positions held by small specs and commercial traders of index futures contracts on the Chicago Board Of Trade. Small specs are the general trading public with commercials being financial institutions. Commercials are historically on the correct side of future trend changes while small specs are not. Extreme divergence between each signals a possible market turn in favor of the commercial trader's direction. Small Specs Commercials S&P 500 (Current) (Previous) (Current) (Previous) Open Interest Net Value +67110 +77601 -70183 -77490 Total Open Interest % (+25.01%) (+33.61%) (-9.04%) (-10.71%) net-long net-long net-short net-short Small Specs Commercials DJIA futures Open Interest Net Value -4305 -4251 +6239 +5829 Total Open interest % (-28.76%) (-35.39%) (+14.44%) (+14.71%) net-short net-short net-long net-long Small Spec Commercials NASDAQ 100 Open Interest Net Value +2110 +1155 -10648 -11335 Total Open Interest % (+6.09%) (+5.43%) (-13.68%) (-18.42%) net-long net-long net-short net-short What COT Data Tells Us ----------------------------------------------------------- Indices: Commercials did lighten their net-short positions on the S&P but not by a notable amount. Gold: Commercials continued to lessen their net-short positions dropping 32,000 contracts since May 29. Inflation concerns may usher in a new wave of buyers and it looks like the Commercials are thinking along those lines. 5/15: 13,915 contracts net-short 5/22: 65,250 contracts net-short 5/29: 68,443 contracts net-short 6/05 42,314 contracts net-short 6/12 36,544 contracts net-short Data compiled as of Tuesday 06/12 by the CFTC. ========== Watch List ========== GILD - Gilead Sciences, Inc. $57.44 +5.48 Gilead Sciences, Inc. is an independent biopharmaceutical company that seeks to provide accelerated solutions for patients and the people who care for them. The Company discovers, develops, manufactures and commercializes proprietary therapeutics for challenging infectious diseases (viral, fungal and bacterial infections) and cancer. While the biotech index (BTX) sits precariously above the 50-dma, shares of GILD have bounced very nicely off of theirs, confirming support near the $47.25 level and potentially clearing the way for a retest of recent highs. Today, shares cleared even more resistance by vaulting past both the 10 & 21 dma's ($51.53, $52.95), and now look poised to make a run towards the 52-week highs at $60.00. The last time GILD was at these levels, Prudential felt compelled to downgrade its stock based on valuation concerns, as the firm had a $55.00 price target on the stock. Opinions are very high on the street about GILD, with the FDA expected to review and approve its tenofovir DF, an HIV treatment within six months. The potential for the drug is huge, to say the least, but the fact that Gilead Sciences is not projected to make a profit this year, nor in 2002, has probably been holding back the stock. Back to the chart, the price action today could definitively be viewed as a volume reversal, with more than 68% more shares changing hands than is typical. The 10.5% gallop higher seems overdone, however, which is why we are placing the stock on the watch list versus playing it. Even though the market showed strength today, the broad bias still appears to weak, and gains seen could well have been shorts covering their positions. We'll watch GILD for a pullback and bounce off of the $54.50 mark, where we would be interested in picking up some for a long position. --- VSEA - Varian Semiconductor Equipment, Inc. $37.14 +0.48 Varian Semiconductor Equipment Associates, Inc. designs, manufactures, markets and services semiconductor processing equipment used in the fabrication of integrated circuits. As a leading supplier of ion implantation systems the Company has shipped over 2,600 systems worldwide, more than those of all other competitors combined and to virtually every major semiconductor manufacturer in the world. More than one factor prompted the decline in share prices for VSEA today. First and foremost, Dan Niles' downgrade before the bell of Intel certainly didn't help the group as a whole. Throw in Infineon Technologies AG, Europe's second-largest chipmaker saying that they expect to report a loss before taxes and interest of as much as $512 million in the quarter through June as sales slump 30 percent, and you have the ingredients for disaster. Shares of VSEA have broken all levels of support as the slew of downgrades and bad reports have rocked the sector, even though the company focuses primarily on the life sciences business, deriving about 56% of its sales from scientific instruments. While Varian was one of the rare tech companies that actually guided Wall Street's earnings estimates up two cents a share to $1.50 for the fiscal year ending in September, the chart is screaming sell, and we want to pay attention in order to potentially profit from this move towards lower ground. While stochastic readings made a bullish cross below the 20-plot yesterday, a potentially bullish signal, would still be interested in getting short the stock on a break and close below $35.00, which would clear the way for a trip to the 200-dma at $32.10, a decent gain of 8.69%. --- RATL - Rational Software, Inc. $26.95 +1.80 Rational Software Corp. is a provider of integrated solutions that automate the software development process. The Company's integrated solutions include unified tools, software engineering best practices, and services that allow customers to successfully and efficiently develop and deploy software. We find it very interesting that Prudential Securities upped their price target on RATL to $24 from $15 on 6/14, as the stock was trading between $23 and $24. Considering their recent actions on our above watch list of VSEA, wouldn't one expect the broker to downgrade the stock soon, considering share are now trading north of $26.00? More important to our watch listing the stock this evening is the clearing of resistance today in the form of both the 10 & 21 dma's ($25.30, $25.47). Also of note is the impressive close at $26.95, a mere $0.30 off of the day's high print. Shares appear to have put in a double top between late May and early June near the $28.00 level, and thus a clearing of this resistance point should free the way for RATL to make an assault on the mid-$30's. Yesterday's $2.30 addition came on very healthy volume of 5.5 million shares, but participation waned a bit today, coming in at only 3.3 million shares changing hands, a reason for concern. Oscillating indicators are showing a mixed picture, with stochastics providing bullish guidance at 76 (%K) while the slower moving MACD is still below the trigger line, but plotted in positive territory at 0.30. With many analysts now beginning to believe that the software sector could lead the Nasdaq leader out of the spending glut, RATL is in a sweet spot should things start to turn the corner. A close above $28.00 and we would be foolish not to give RATL a shot as a long. --- DNA - Genentech, Inc. $55.78 +3.24 Genentech, Inc. is a biotechnology company that uses human genetic information to discover, develop, manufacture and market human pharmaceuticals that address significant unmet medical needs. The Company manufactures and markets nine protein-based pharmaceuticals and licenses several additional products to other companies. Shares of DNA provide a very attractive snapshot on the daily chart, including a bullish engulfing pattern and a break above all shorter and medium term resistance. While the stock has been mired in a trading range between $46 and $57 since mid-May, the stubborn nature of the biotech index to hold support of its 50-dma in the recent Nasdaq sell-off displays excellent relative strength, indicative of a bullish bias in the sector. Expectations are very high for a drug in development called Tarceva, viewed to be one of the most exciting compounds in oncology and expected to be a blockbuster drug for Genentech. With the company believed to have one of the best risk-to-reward profiles of any stock in biotechnology, the fact that the technical picture is drastically improving only sweetens the pot for a potential long position. A closing north of $57.00 should be the signal that uncertainty in DNA has gone the way of the dinosaurs, setting up for a run towards major resistance at the 200-dma ($63.90). Stochastics made a bullish crossover yesterday, continuing their northerly ascent towards the 80-plot today. Volume was less than enthusiastic, however, with 1.8 mln shares changing hands, only in-line with the 30-day average trend. With a little more participation, DNA should achieve our target settlement of $57.00, at which point we would gladly add the company as a new long recommendation. Should the BTK.X manage to close north of 607 (200-dma), we might also add stock in anticipation of a run in the group. ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright © 2001 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Wednesday 06-20-2001 section 2 of 2 Copyright © 2001, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= To view this email newsletter in HTML format with imbedded charts and graphs, click here: http://www.PremierInvestor.net/htmlemail/4105_2.asp ================================================================= In section two: Split Trader Closed Plays: MTG (candidate) Stock Bottom / Active Trader New Plays: CTXS (Long) Play Updates: BEAS (Long) Closed Plays: T, BEBE (Longs) ================================================================= Split Trader (ST) section ================================================================== =============== ST Closed Plays =============== ---------------------- Candidate Closed Plays ---------------------- MTG - MGIC Investment, Inc. $73.85 s/l $72.50 The bids in MTG looked to have transformed themselves into asks in the first few minutes of the session Wednesday, with shares trading as low as $72.37, compromising our raised stop loss trigger at $72.50, as well as the 10-dma at $72.83. However, buyers quickly surfaced, driving MTG to a positive close by $0.45 at days end. Our fifteen day stint with MTG results in a $2.13 or 3.0% gain for readers. With biotech and software starting to get trader's attention, we may have exited at an opportune time. Picked on May 31st @ $70.37 CLOSED OUT @ $72.50 Plus/Minus = +2.13 or + 3.0% Best Change = +3.48 or + 4.9% ================================================================== Stock Bottom / Active Trader (AT) section ================================================================== ============ AT New Plays ============ New Long (Bullish) Play ------------------------ CTXS - Citrix Systems, Inc. $30.14 +1.95 s/l $26.50 Sector - Software & Programming Citrix Systems, Inc. is one of the leading suppliers of application delivery and management software and services that enable the effective and efficient enterprise-wide deployment and management of applications. The company's products permit organizations to deploy and manage applications without regard to location, network connection, or type of client hardware platform. Recent upgrades, a potential bottom in the GSTI software index (GSO.X) and a fresh convergence of the 50 & 20 dma's all add up to reasons why Citrix Systems, ticker CTXS, gets the nod for a new long position this evening. Lets start with the fundamentals. A once high flyer, CTXS crushed its own groove back in June of 2000 by saying that they would miss earnings estimates for the quarter and year-end. Traders and investors alike liquidated the stock en mass after the warning, but more recently, the pain that was felt has subsided and institutions have started to nibble at shares of this up-n-comer in software. Earnings are again on the rise, a merit badge for management considering the current economic environment. Citrix is slated to earn 0.18 cents per share this quarter and 0.74 cents for the year, EPS growth rates of 75 and 19.6 percent, respectively. Yesterday, CSFB upgraded the company to Buy from Hold, saying that they believe the market for Citrix's products continues to accelerate, and the Windows XP upgrade cycle should only benefit the company further. Taking a look at the chart, the accumulation appears to be underway. Wednesday, CTXS tacked on $1.95 or 6.9% in heavy participation. 7.3 million shares changed hands versus the 4.2 million 30-day trend, 83% more than the typical monthly average. Last Friday, we saw a bullish convergence of the 50 & 21 dma's, indicative of both the longer-term trend and potential upside for the stock. MACD readings also show a bullish crossover of the trigger line, with firmly positive plots achieved in the session today. As for an entry in the stock, one could assume that a break and close above the $31.00 level would prove lucrative when initiating a long position in shares, with only slight resistance at $32.00 and $33.50 in route to our near term objective of $35.00. With the GSO index managing to find support near 200 due to bullish guidance from ORCL Monday, software could indeed lead the Nasdaq out of the rut it has found itself in once again. Our stop loss trigger for the trade has been set at $26.50, a level that would negate recent strength and re-affirm control to the bear camp. Average Daily Volume = 3.9 mln 52-week: High = $37.18 Low = $14.25 Next Earnings 07-18 est = 0.18 versus = 0.10 =============== AT Play Updates =============== ----------------- Long Play Updates ----------------- BEAS - BEA Systems $30.74 +1.67 s/l $25.00 BEA was again named to Business Week's annual Information Technology 100, the ranking of the world's best-performing technology companies. This was the second year in a row that the software provider made the listing, and its ranking for 2001 rose 9 positions to 63 from 72 in 2000. Looking at the chart, shares are still struggling to hold onto recent support near $28.00, and the bounce off of this level yesterday was likely spurred by Oracle's better than expected, albeit cost reduction driven earnings report. The $0.63 gain achieved Tuesday resulted in a bullish cross of %K and %D on the fast stochastics oscillator, and the pattern played out perfectly with the additional $1.67 price increase today. When we added the stock as a long Sunday, we anticipated some near term weakness, and still expect that to be the case. However, if the GSO.X can scratch and claw its way back above the 225 mark, BEAS should make a run towards the mid- $30's again. Our stop loss remains $25.00. Next Earnings: 8/14/2001 =============== AT Closed Plays =============== ---------------- Closed Long Play ---------------- T - AT&T Corporation $20.12 -0.14 Considering the constant flood of bad news coming from the telecom sector, we are amazed that AT&T held on as long as it did. The inevitable finally came today, with shares losing just enough ground to trigger our stop loss down at $20.00 in the first 20 minutes of trading. While the stock holding on near $20.00 could signal a decent risk/reward trade from here for bullish traders, the underlying negativity in the sector tells us to stay away, and we're taking our 9.3% hit and moving on to bigger and better ideas. Perhaps the company's spin off of AT&T Broadband later this fall will entice investors back into Ma Bell. Picked on June 8th @ $22.07 CLOSED OUT @ $20.00 Profit/Loss = -2.07 or -9.3% Best Profit = -0.07 or +0.3% --- BEBE - BEBE Stores, Inc. $27.90 s/l $28.25 Despite taking a loss of $2.55 or 8.2%, we are pleased that we ratcheted up our stop loss trigger with the update of BEBE Tuesday evening. The bearish cross seen Tuesday in the MACD oscillator played out to a tune, with BEBE also compromising in the 21-dma ($28.33), and closing a mere penny off of the day's low. The bull party in BEBE certainly looks to be over, and we would not be surprised to see shares trade to the $25.50 level before finding support. Picked on June 8th @ $30.80 CLOSED OUT @ $28.25 Plus/Minus = -2.55 or - 8.2% Best Change = +2.30 or + 7.4% ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright © 2001 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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 "firstname.lastname@example.org"
Option Investor Inc