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Daily Newsletter, Friday, 07/13/2001

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PremierInvestor.net Newsletter         Weekend Edition 07-13-2001
                                                   section 1 of 3
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In section one:

Market Wrap: Are These Indexes Saying Economic Recovery?
Market Sentiment: Capre Diem, Quam Minimum Credula Postero
Play-of-the-Day: Not Playing Games Here
Watch List: Watch Out!  Bulls Headed This Way.


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U.S. Market Numbers
------------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
------------------------------------------------------------------
        WE 7-13          WE 7-06          WE 6-29          WE 6-22
DOW    10539.06 +286.38 10252.68 -249.72 10502.40 -102.19  - 19.05
Nasdaq  2084.79 + 80.63  2004.16 -156.38  2160.54 +125.72  +  6.39
S&P-100  626.85 + 13.90   612.95 - 19.07   632.02 -  4.13  +  9.52
S&P-500 1215.68 + 25.09  1190.59 - 33.79  1224.38 -   .97  + 10.99
W5000  11271.92 +212.36 11059.56 -347.59 11407.15 + 94.70  + 74.45
RUT      490.71 +  7.45   483.26 - 29.38   512.64 + 23.99  -  6.48
TRAN    2940.35 +191.43  2748.92 - 81.04  2829.96 +153.47  - 17.13
VIX       23.87 -  1.10    24.97 +  3.34    21.63 -   .87  -  3.83
Put/Call    .65              .90              .58              
-----------------------------------------------------------------

===========
Market Wrap
===========

Are These Indexes Saying Economic Recovery? 
by Jeff Bailey

No, they're not the most exciting stocks to watch, but if you 
believe that the MARKET is all knowing and predicts the future in 
the form of big bets on companies that will be showing strong 
bottom lines in the near future, perhaps the following indexes 
give hint that the economy will be fine in the months ahead.

Morgan Stanley Cyclical Index (CYC.X) - weekly interval




The deep cyclicals as a group had a bullish week as characterized 
by the Morgan Stanley Cyclical Index (CYC.X).  For the week this 
group of stocks finished up 5% and looks ready to challenge its 
52-week high of 585 set on May 21st.  The perception among many 
traders is that this is a boring group of stocks to be invested 
in.  This is a good group to monitor as it relates to an economic 
recovery in this part of the economic cycle.  With little 
overhead supply in the way, I still think we might see a move 
similar to that found in early 1999 when this group of stock 
jumped from the 515 level to a high of 624 in a 5-week timeframe.

Dow Jones Transportation Average (TRAN) - weekly interval




Who hauls the product that many of the deep cyclicals produce?  
You got it!  Many of the companies that make up the Dow 
Transports (TRAN).  You would have thought this group of stocks 
would have blown a gasket with higher energy prices and a slowing 
economy.  Yes, there's been a flat tire or two along the way, but 
the higher lows that have been forming on the weekly chart give 
hint that the MARKET believes in the group longer-term.  Now that 
energy prices have abated in recent weeks, the group is starting 
to recover.  With one variable (fuel costs) headed lower, the one 
question that remains is what the MARKET feels about the future 
of the economy.  A break above the 3,017 level and the CYC.X at a 
new 52-week high might hint that the MARKET believes an economic 
recovery is just around the bend!

If you only invest in technology stocks, I would think a trader 
could pull in some information from the above two groups of 
stocks if monitored over time.  The deep cyclicals look to be in 
good shape and back above an old downward trend.  A trader that 
believes in economics and understand the various cycles that an 
economy rolls through and also believes that the market is 
forward looking can then test economic theory against what he/she 
is seeing in the charts.

Market historians love this kind of stuff as they can back-test 
what was taking place at different inflection points and breaks 
of trend on a chart, then correlate those points against other 
economically sensitive indexes.

I'm also a believer that a relatively simple way to measure 
strength of a stock or index is to measure it against its 50-day 
and 200-day moving averages.  Both of the above charts have their 
10-week (50-day) and 40-week (200-day) moving averages overlaid.

It's my belief that a technically stronger stock or index is 
trading above its 50-day and 200-day moving averages.  A 
stock/index that is trading below its 50-day MA , but above its 
200-day MA is showing "average" strength, while an index/stock 
that is trading below both is considered "weak."  

As I "click through" chart after chart of broader market indices 
and indexes, there are very few that are trading above their 200-
day moving averages.  For whatever reason the two indexes above 
are trading above both of these moving averages.  Could it be 
that this is where "smart money" is placing its biggest bets?  I 
think so and it makes so much sense.  Place your biggest bets 
where an early economic upturn would be felt first, and sprinkle 
a few smaller bets in those stocks that will benefit down the 
road.




================
Market Sentiment
================

Carpe Diem, Quam Minimum Credula Postero

The baby bull that was born yesterday managed to avoid the 
matador's sword today.  It lost some of its verve, but left the 
door open for next week.  The door is only open a crack as long 
as we have more resistance to overcome that support bolster it.  

Bullish percent data is also telling bullish traders to proceed 
with caution.  Three of the four major indices remain in bear 
confirmed status, and the gains over the past two days have done 
little to repair the situation.  

PPI and consumer sentiment data are suggesting the economic 
situation is improving, but softening retails sales say 
otherwise.  The Economic Cycle Research Institute's Weekly 
Leading Index also hints that an economic recovery isn't a sure 
bet.  The index is a composite of seven leading business cycle 
indicators - money supply, industrial material prices, mortgage 
applications, stock prices, bond yields, bond quality spread, and 
initial claims for unemployment.  The index provides insight into 
the state of the economy six months into the future, and was 
suggesting that a recovery should occur by the end of the year.  
But the index has declined for the past three weeks, raising some 
doubts about the certainty of a recovery.

Sentiment indicators aren't giving any directional clues for the 
stock market.  The VIX has halted its steep climb, but has only 
dropped to 23.87.  Put/Call ratios are mixed.  The OEX is 
approaching a bullish signal, but QQQ remains dangerously low.  
COT data has improved, but not enough to signal any meaningful 
reversals.

So what will Monday bring?  In 2001, the Nasdaq Composite has 
lost an average of 4.5 points on Mondays.  There have been 11 
positive Mondays with an average gain of 38 points, and 13 
negative Mondays with an average loss of 41 points.  The best 
Monday was on 5/21/00 when the Nasdaq gained 106 points.  The 
worst Monday was four weeks earlier when the Nasdaq lost 104 
points.  My best guess is that resistance will be too much for 
the market on Monday, and we will revert back to the mean, 
gaining or losing only minimal points.

-----------------------------------------------------------------

Market Volatility  
VIX   23.87
VXN   53.47

-----------------------------------------------------------------

          Put/Call Ratio  Call Volume   Put Volume
Total           .65        633,553       412,720
Equity Only     .59        537,910       315,119
OEX            1.56         15,318        23,860
QQQ             .27         48,102        12,859

-----------------------------------------------------------------

Bullish Percent Data

           Current   Change   Status
NYSE          36       -      Bear Confirmed
NASDAQ-100    26       -      Bear Confirmed
DOW           32      -2      Bear Confirmed
S&P 500       50       -      Bear Alert  

Readings above 70 are considered overbought, and readings below 
30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend

-----------------------------------------------------------------

10-Day Arms Index  1.18  

Extreme readings above 1.5 are bullish, and readings below .85 
are bearish.  These signals don't occur often and tend be early, 
but when the do, they can signal significant market turning 
points.

-----------------------------------------------------------------

        Advancers     Decliners
NYSE      1755           1279
NASDAQ    1949           1689

        New Highs      New Lows
NYSE       116            41
NASDAQ     112            65

-----------------------------------------------------------------

Advisory Sentiment   Bullish   Bearish  Correction  
                       50%      25.5%      24.5%

-----------------------------------------------------------------

Commitments Of Traders Report: 07/03/01
Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts at the 
Chicago Mercantile Exchange and 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 tend 
to be wrong. 

S&P 500
Commercial traders have stopped their bearish trend, but no enough 
to signal any meaningful reversals.

Commercials   Long      Short      Net     % Of OI 
6/26/01      307,889   379,955   (72,066)   (10.48%)
7/03/01      316,543   395,410   (78,867)   (11.08%)
7/10/01      309,374   385,178   (75,804)   (10.91%)

Most bearish reading of the year: (111,956) - 3/6/01
Most bullish reading of the year: ( 41,144) - 5/1/01

Small Traders Long      Short      Net     % of OI
6/26/01      130,914     56,269   74,645     39.88%
7/03/01      133,098     54,865   78,233     41.62%
7/10/01      135,587     59,889   75,698     38.72%

Most bearish reading of the year:  36,513 - 5/01/01
Most bullish reading of the year:  91,122 - 3/06/01
 
NASDAQ-100
Institutions have decreased their net bearish position for seven 
straight weeks, and small traders are about to turn net bearish.  
The overall picture is still net bearish, but things are looking 
up.

Commercials   Long      Short      Net     % of OI 
6/26/01       26,263     35,690   ( 9,427)  (15.22%)
7/03/01       26,544     34,880   ( 8,336)  (13.57%)
7/10/01       26,688     34,640   ( 7,952)  (12.97%)

Most bearish reading of the year: (15,521) - 3/13/01
Most bullish reading of the year:  (1,825) - 1/02/01

Small Traders  Long     Short      Net     % of OI
6/26/01       10,519     6,064    4,455      26.86%
7/03/01       10,443     7,063    3,380      19.31%
7/10/01        9,073     7,486    1,587       9.58%

Most bearish reading of the year:  (1,028) - 1/02/01
Most bullish reading of the year:   8,460  - 3/13/01


DOW JONES INDUSTRIAL
Institutions have quickly reversed their position back to net 
bullish.  I would like to see this trend persist for a few more 
weeks before I buy it.

Commercials   Long      Short      Net     % of OI
6/26/01       11,371    12,759   (1,388)    (5.8%)
7/03/01       12,761    14,623   (1,862)    (6.8%)
7/10/01       13,743    12,999      744      2.8%

Most bearish reading of the year: (8,322) - 1/16/01
Most bullish reading of the year:  8,925  - 5/22/01

Small Traders  Long      Short     Net     % of OI
6/26/01        4,756     6,341    (1,585)   (14.28%)
7/03/01        4,708     5,715    (1,007)   ( 9.66%)
7/10/01        5,048     7,835    (2,787)   (21.63%)

Most bearish reading of the year:  (7,572) - 5/08/01
Most bullish reading of the year:   1,909  - 1/16/01
-----------------------------------------------------------------


=========================
Play-of-the-Day (Bullish)
=========================

Electronic Arts - ERTS - Close: 58.95 Change: +0.85 Stop: 53.50

Original Comments When Selected On July 7th: 

Company Description:
The Redwood City, California-based Electronic Arts is the worlds'
largest publisher of video games.  They have over 100 titles 
including the popular John Madden football games, Command & Conquer 
and SimCity.  Over half of company revenue comes from games developed 
for console systems like the Sony Playstation (41-percent of sales),
the Nintendo N64 and Microsoft's soon to be released xBox.  
Electronic Arts also acts as distributor for over 1,000 titles for 
3rd party developers.  The company is diversifying its business by 
operating a game channel for AOL and by creating its own EA.com 
subscription game site.  However, it is the coming war between the 
deep pocket game console developers that ought to bring a smile to 
ERTS shareholders.  

Microsoft has said it will spend $500 million to promote its xBox 
console scheduled for release in early November.  You can be 
certain the equally flush Sony will respond to protect their 
lucrative Playstation franchise and to launch their new 
Playstation 2.  As a games developer for all the platforms, 
Electronic Arts is in a win-win situation.

Fundamentals:
In the fiscal year ended last March, the firm earned 4-cents per 
share on sales of $1.3 billion.  The analysts' consensus forecast 
for the current year is for earnings of 61-cents per share on 
revenue of $1.6 billion.  They predict the good times will 
continue the following year with earnings of $1.48 per share on 
revenue of $2.2 billion.  Although the shares sport a high 
current P/E of 89 and a forward one of 37 for 2001, the firm's 
superior growth rate and recession resistant business model make 
the valuation reasonable.

Why We Like It:
For five consecutive years ERTS shares have increased an average of 
25-percent from July 1st to September 30th.  Taking out 1998's 
anemic rise of 2-percent and the average becomes 31-percent.  This 
makes sense, as this quarter is when retailers stock up for the 
holidays.  As a beneficiary of the massive amounts of holiday 
advertising in the hotly contested game console market, there is 
little reason to think that ERTS sales and shares will not have a 
similar rise this year.  As far as an entry point is concerned, 
since last April $53 has proven to be a resilient support level and 
it held up well last week.  On Friday, the shares went counter to 
the bear market and rebounded off of this level on high volume of 
2.6 million shares traded.  A good entry point would be following 
a confirmation of this bullish breakout with a close above $54.84 
on a similar spike in volume.  Our price objective is in the range 
of $63 to $67.  To avoid getting whipsawed put we will set a stop 
at $50.00.

Updated Comments:
Nothing new to report for ERTS in the media.  The stock has posted 
its 3rd positive day in a row and is quickly approaching potential 
resistance at $60.  We finally have a positive MACD crossover but 
new trades should be entered into carefully.  We could easily see 
the stock pull back to $56 or $57 before moving higher.  Volume was 
less than average on Friday.  Earnings are about two weeks away.

Picked on July 7th @ $54.38
Gain since picked:   + 4.57
Earnings Date:      7/26/01 (confirmed)
     






==================================================================
WATCH LIST
==================================================================


Oracle Corp. - ORCL - close: 19.50 change: -0.16

WHY WE LIKE IT:  After going sideways for the last 4.5 months it
finally looks like the bulls are trying to drive ORCL higher.
The stock has been fighting with heavy resistance at $20 for
the last couple of weeks.  Buyers we able to drive the price 
higher back on April 19th but the bears took it right back down
again.  Now that the stock is slowly consolidating with higher
lows the bulls are ready to try again.

POTENTIAL TRIGGER EVENT:  Once over the $20 barrier shares could
easily appreciate 10% or more.  Watch for the 200-dma to be 
resistance at $23.50.  Our trigger point will be a close over $20.
More conservative traders may want to wait for the second 
consecutive close over $20 before evaluating for a long play.




---

PMC - Sierra - PMCS - close: 29.90 change: +1.11

WHY WE LIKE IT:  If investors are returning to the semiconductor
sector then PMCS might be a good stock to watch.  Even though
the SOX was down 12 points to 593.93, PMCS closed up almost 4
percent on Friday.  The stock had been making lower highs but
Friday's close pushed it above that bearish trend line.

POTENTIAL TRIGGER EVENT:  We need to see shares of PMCS confirm
a breakout with a close over $32.  Or if you're feeling more
conservative a close over the 100 & 50-dma's near 33.90.  Once
over these obstacles the price could appreciate up to $40 -
$44.  Watch the volume as it appears to be climbing.  Volume
on Friday was 10 million compared to the normal 8.7 million.




---

Usa Education Inc, - SLM - close: 77.24 change: +1.11

WHY WE LIKE IT:  At $64.5 billion, USA Education is one of the
biggest sources for college loans.  You haven't heard of USA
Education before?  Then may you know them by the name Sallie Mae.
The stock hit resistance at $76 back in early March.  Since
then shares have seen a slow and patient consolidation as
it made a new base near the $65 area.  That was mid-May.
Shares have now appreciated and the bulls have managed to 
break through resistance at $76.

POTENTIAL TRIGGER EVENT:  Truthfully, we would have made this
a play tonight.  The strong steady climb, the timely pullbacks
and new entry points seem to make it too easy.  Seeing the stock
close over $76 was the trigger.  We would have preferred to see 
the move on higher volume but it still looks good.  One could 
expect the stock to quickly appreciate to $80 but we might also 
see an entry point if shares pullback to $76.  Be careful as 
earnings are expected on Thursday, July 19th.




---

Americredit Corp. - ACF - close: 59.55 change: +0.84

WHY WE LIKE IT:  More than doubling since the first of the year,
investors should be pretty happy with ACF.  Prone to significant
two or three week retracements, buyers have taken these 
opportunities to pick up shares of ACF at easy to identify 
levels of support.  We've been watching this one for several
days and regret not publishing it on the watch list when it
was at $54.

POTENTIAL TRIGGER EVENT:  The breakout came on July 10th as
shares broke through resistance of $55 on almost double the
normal volume.  You can see that the bulls have continued to
drive it higher.  Instead of chasing the stock we are now looking
for ACF to stall and consolidate again near $60 or more likely
to dip back to $56 (or even $55) before bouncing higher again.




---

NVR, Inc. - NVR - close: 163.75 change: +4.95

WHY WE LIKE IT:  Like the price tag on many of the homes they
build, shares of NVR look expensive at first glance.  NVR's
business model is involved in both building homes as well as
mortgage banking.  At $163 a share they do look expensive
until you see that NVR has a P/E of 9.8.  Back in April, NVR
announced that net income rose 57% for Q1 2001.  The stock
has risen from a low near $80 in late November 2000 to over
$200 in mid-May.  The stock then fell, quite sharply, to find
new support at $140.  That was June 18th/19th.  Since then 
shares of NVR have been forming a bullish technical pattern
with buyers pushing up higher lows as sellers formed resistance
at $162.  

POTENTIAL TRIGGER EVENT:  This is another opportunity to see
if a recent breakout can follow through and confirm a new trend.
On Friday, shares closed above resistance of $162.  The next
test is the 100 & 50-dma both hanging just overhead at 165 and
167 respectively.  Aggressive traders could jump in now, more
patient investors might want to see it clear those two moving 
averages.  Next resistance should be $180.  Because of the price,
this would be a great stock to trade options on but unfortunately
there are no options on this security.






-------------------------
-- Continuing to Watch --
-------------------------

Some stocks on the Watch List will be carried over from one day
to the next if they continue to show potential but have not yet
breached the trigger point.

-------------------------

Best Buy Co. Inc - BBY - close: 68.17 change: +0.22

Thursday, July 12th Write Up:

WHY WE LIKE IT:  Did you know that the Best Buy Company is the same 
people who run MediaPlay.com, OnCue.com, SamGoody.com, Suncoast.com,
MagnoliaHiFi.com in addition to BestBuy.com?  Neither did we.  We
are most familiar with its retail stores upon which 68% carry the
Best Buy name.  Surprisingly, there seems to be a correlation 
between good news for the technology sector and consumer electronic
stores.  We like BBY for its positive (yet rocky) up trend since
its break out above the 200-dma on April 18th, 2001.  

POTENTIAL TRIGGER EVENT:  Shares of BBY have significant resistance
between $69.50 and $70.00.  Our signal to re-evaluate BBY as a long
play would be a close over $70 on decent volume.  If the tech stocks
can continue climbing then BBY (which trades on the NYSE) might be 
on the play list soon.  We don't have an earnings date for BBY yet
but we'd expect one in late July.




---

Nisource Inc Holding Company - NI - close: 26.00 change: -0.16

Thursday, July 12th Write Up;

WHY WE LIKE IT:  Completing its fourth down day in a row, we 
thought bearish investors might be looking for new victims if
the tech sector can hold on to a rally.  NI is an energy and
utility-based holding company with operations in Indiana and
New England.  The company was formerly known as NIPSCO.  Currently,
the company is being investigated by a local utility regulatory
commission for its base electric rates.  Adding more injury to
investors was a recent downgrade by Goldman Sachs who lowered 
estimates for 2001.

POTENTIAL TRIGGER EVENT:  The trigger point is pretty defined
for NI.  There is very important support at the $26 level.  The
stock has bounced here more than once and today is the third 
time since February that it has approached this support.  Actually,
on Feb. 2nd, 2001, shares of NI closed at 25.87 probably faking
out several bearish traders when it quickly rebounded the next day.
Considering the recent negative news, we're going to keep the 
evaluation point simple.  If shares close under $26 we'll look into
a short play on NI.  More conservative traders may want to see it 
take out the old low of 25.87.




---

Reebok Intl. - RBK - close: 32.43 change: -0.20

Thursday, July 12th Write Up:

WHY WE LIKE IT:  In this market it's hard not to like something 
hitting 52 week highs.  RBK did so in late June and is looking
to do it again.  The stock has made a significant run since hitting
a triple bottom against support at $22 in late April.  We have seen
the bulls tackle resistance at $32 and now that shares have seen
a little profit taking buyers are stepping back in.

POTENTIAL TRIGGER EVENT:  From the recent high at $33, RBK has almost
completely recovered a 10% pullback and today shares took off.  
Volume is lighter than we would want so we're waiting for shares to
close over $33 as our signal that the bulls are ready for the next
leg up.  Earnings are expected on July 24th.




---

THQ Inc - THQI - close: 58.55 change: -1.17

Wednesday, July 11th Write Up:

WHY WE LIKE IT:  Several analyst believe that the electronic game
industry, while having a great run so far, still has plenty of
room to go.  If you believe that then pay attention to THQ Inc.
The Company publishes titles for Sony's PlayStation and 
PlayStation 2, Nintendo 64, Nintendo Game Boy Color and personal 
computers.  Indeed, if the gaming sector has seen the same move
that shares of THQI have seen then it has been a good year.
Mid-December of 2000 you could have bought shares of THQI for
only $18.00.  We can expect earnings for THQI on Thursday, July
19th next week.

POTENTIAL TRIGGER EVENT:  The stock has been consolidating under
resistance at $60 for about four weeks now.  We're starting to
see higher lows and if shares can close above $60 and stay there
then we might actually see an earnings run.







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Do not duplicate or redistribute in any form.

PremierInvestor.net Newsletter          Weekend Edition 07-13-2001
                                                    section 2 of 3
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
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To view this email newsletter in HTML format with imbedded
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In section two:

Split Trader
  New Plays: Cerus Corporation - CERS
  Play Updates:  CS, ATK, JCI, 
  Closed Plays: Fiserv Inc.  - FISV 

Net Bulls
  New Plays: Borland Software Corp - BORL (Bullish)
  Long Play  Priceline.com - PCLN
  Bullish Play Updates: ERTS, IBM, NOK
  Short Play Updates: No active short NB plays 
  Closed Plays: No closed NB lays 

Stock Bottom / Active Trader
  New Plays: RAIL (Bullish), LH (Bullish)
  Long Play Updates: PLAY, QQQ, THC, SGU 
  Short Play Updates: CSG Systems CSG 
  Closed Long Plays: No closed plays for SB


=================================================================
Split Trader (ST) section
==================================================================

============
ST New Plays
============

  -------------------------
  New Split Candidate Plays
  -------------------------

Cerus Corporation - CERS - Close:$69.25 Change:+1.25 Stop:$65.00

Company Description:
Cerus develops blood-pathogen inactivation systems intended to 
purify donated blood and improve the safety of blood transfusions. 
The company has just completed Phase III clinical trails for its 
Intercept Platelet blood system, which uses proprietary small-
molecule compounds to prevent pathogens, including HIV, hepatitis B 
and C viruses, and other bacteria and viruses, from replicating in 
blood products. The firm is also researching technology for use in 
bone-marrow transplants. It has collaboration agreements with Baxter 
Healthcare Corporation (Baxter), the Pharmaceutical Division of 
Kirin Brewery Co., Ltd. (Kirin) and the Consortium for Plasma Science 
(the Consortium). Cerus has not received any revenue from product 
sales, and all revenue recognized by the Company to date has resulted 
from the agreements with Baxter and the Consortium and federal 
research grants.

Fundamentals:
Last year the firm lost $2.73 per share.  In the current fiscal year,
 analysts expect the firm to lose $3.04 per share and $2.15 in 2002.

Strategy:
Cerus is the typical research development story.  It has deep losses 
and a deep pipeline with several key products working towards final 
approvals in the US and Europe.  Its stock performance also tells a 
promising story.  The recent weakness in drug and biotech shares has 
not had a big effect on CERS.  After driving from a low of $32.25 on 
April 4th to $76 on June 6th, the shares began trading in a range 
bounded by approximately $65.75 and $76.  After twice attempting to 
best $76 the shares dropped to the lower range. The third time may be 
the charm as the shares are yet once more bouncing off the lower 
trading range.  If history is being repeated the shares are gearing 
up for another run at $76.  Each time an important level of resistance 
is tested it weakens, perhaps this is the time for a breakthrough.  
In any event, even a failed test of $76 would put a 10-percent gain 
on the table with prospects for more.  Support exists at the before 
mentioned $65.75.  We will institute a $65.00 stop.     

Picked on July 13th $23.90
Earnings Date         7/24(Not Confirmed)
 




===============
ST Play Updates
===============

  -----------------------
  SPLIT RUN Updates
  -----------------------

Cabletron Systems - CS - Close:$24.44 Gain:+0.54 Stop:$21.25

Cabletron had a nice day on Friday, gaining 2.25%.  That helps 
to confirm the break away gap that formed on Thursday.  If that 
stays open one more day, it should act as solid support if needed. 
 With major resistance points cleared, CS looks free to run higher.

Picked on June 29th at $23.90
Gain since picked:      +0.54
Earnings Date           9/26/01 (unconfirmed)




  -----------------------
  SPLIT CANDIDATE Updates
  -----------------------

Alliant Techsystems - ATK - Close:$90.99 Gain:-0.65 Stop:$88.00

Alliant gave back 65 cents of Thurday's gains, but remained above 
the top of little double bottom pattern that has formed.  The 
short-term trend still looks higher, but ATK might run into 
some resistance at the 50-day moving average at $94.

Picked on July 12th at $89.90
Gain since picked:      +1.09
Earnings Date           8/9/01




===

Johnson Controls - JCI - Close:$78.75 Gain:+0.50  Stop:$74.00

JCI tried to take control today, but only gained 50 cents.  Not 
that a 50 cent gain isn't better than a 50 cent loss, but I would 
have liked to have seen the stock clear $78.95.  This looks like 
a short-term area of resistance that needs to be broken.  But the 
three-day trading range that has set up also gives us support 
around $76.  

Picked on July 10 at   $76.20
Gain since picked:      $2.55
Earnings Date           7/23/01




  -----------------------
  ST Closed Play
  -----------------------

Fiserv Inc. - FISV - Close:$61.05 Gain:-2.13  Stop:$61.00

Fiserv was due to pullback after gaining over $6 in 5 days, but 
unfortunately it pulled back too far and touched our stop.  We 
were able to scrape a dollar out of this trade, but it looked to 
have so much more potential.  

Picked on July 10 at   $59.94
Gain since picked:      +1.06
Earnings Date            7/23





==================================================================
Net Bulls (NB) section
==================================================================

============
NB New Plays
============

  --------------
  New Bullish Play
  --------------

Borland Software Corp - BORL - Close:$15.98 Change:+0.73 Stop:$13.50

Company Description:
The company, which began as Borland, changed its name to Inprise 
in 1998, and has now reclaimed its original name.  After years of 
trying to sell desktop software, the company refocused on creating 
software development tools.  The company is known for its 
programming language (Delphi), database software (InterBase) and 
Java application development software (JBuilder).  Borland is 
currently emphasizing its Web-based application integration software, 
also known as middleware, which lets clients deploy online 
applications compatible with different hardware and software platforms. 
The company produces tools for a wide range of operating systems, 
including Windows, Linux, and Macintosh.  Microsoft, once a rival, 
owns preferred stock that can be converted to a 10-percent stake.  

After being forgotten by many Wall Street analysts, in late June 
Bear Stearns became the first major brokerage to resume coverage of 
Borland, assigning a "Buy" rating.  In a research note, analyst 
David Brener said, "Under new leadership, Borland appears well 
positioned to capitalize on trends moving in its favor." He added, 
"these trends involve a pickup in demand in Java tools market, its 
application server business and the market for rapid application 
development (RAD)--development tools that make programming easier. 
Borland addresses the latter market with its Linux and Web services 
business.  The analyst also cited Borland's "improving fundamentals" 
and cheap stock price as the reason for initiating the coverage.  
The company has a $20 stock price target.

The most significant advantage Borland has is its strong foothold in 
the Java development market.  Java has become the most important 
language used for Internet development and is expected to be a $5.5 
billion market by 2003 from $1.7 billion today.  Its JBuilder tool 
has become the preferred tool, with a 78-percent jump in sales in the 
first quarter of 2001 as compared to the same quarter in 2000.

Fundamentals:
For the first three months of the year the company reported an 11-
percent increase in revenue to $51.7 million from $46.5 million in 
the same period a year ago.  Net income increased to $5.9 million 
(or 8-cents per share) against a loss of $1.1 million (or 2-cents 
per share) in the year ago quarter.  Gross margins have improved 
from 81-percent to 85-percent.  The company has a strong balance 
sheet with $264 million in cash and equivalents.   First Cal 
estimates the firm will earn 41-cents per share this year and 53-
cents in 2002.  This gives the shares a forward P/E of 39 for 2001 
and 30 for 2002.  The industry average P/E is 42.

Strategy:
Along with its reappearance on investors' radar screens the shares 
have been climbing up the performance charts.  The shares have 
jumped from the April 4th low of $6.25 to set a new 53-week high 
of $16.10 on Friday.  This broke the $15.75 high from June 29th.  
With three consecutive days of rising volume, the shares seem likely 
to run into the July 24th earnings announcement.  We concur with 
the Bear Sterns target price of $20.       

Picked on July 13th $15.98
Earnings Date         7/24(Not Confirmed)
 



=================
NB Long Term Play
=================

Priceline.com - PCLN - Close:$8.70 Change:+0.70 Stop:$7.00

Note: The solid prospects of this play are compelling us to make 
this play a short-term Bullish Selection and a Long-Term play.

Company Description:

At Priceline.com's Web site, buyers can "name their own price" for 
airline tickets, home financing, hotel rooms, new cars, rental cars, 
and telephone long distance.  About 98-percent of revenue come from 
the travel related products.  For airline tickets and hotel 
reservations, priceline.com generates revenue on the difference 
between the price paid by the individual and what priceline.com paid 
for the ticket or hotel room (the company also charges airline ticket 
buyers a handling fee). For cars and home financing, priceline.com 
earns a flat fee.  Not everyone who bids through priceline.com gets 
as ticket.  The company considers an individual's named price for a 
plane ticket "reasonable" if it's no more than 30-percent lower than 
the lowest fare for the route. During 2000 the company was able to 
fulfill about 47-percent of the "reasonable" bids it received for 
airline tickets and hotel rooms.  Founder Jay Walker (who resigned 
as vice chairman at the end of 2000) owns 18-percent of the company 
with plans to reduce his stake further. Other investors include 
Cheung Kong (Holdings) Limited (15-percent), Hutchison Whampoa 
Limited (8-percent), and General Atlantic Partners (8-percent). 
Delta Air Lines holds warrants for 13-percent of Priceline.com. 

Fundamentals:
Last year, the firm lost 22-cents per share (or $315.1 million) 
on a 156-percent increase in sales to $1.2 billion.   Gross profit 
margins increased from 12-percent in 1999 to 15.6-percent in 2000.  
The company has no short or long-term debt and $98.7 million in cash. 
For the current 2001 fiscal year analysts expect the company to 
earn 3-cents per share on sales of $1.2 billion and 14-cents per 
share on $1.4 billion in 2002.  This gives the company a forward P/E 
of 290 for 2001 and 62 for 2002.  In its first-quarter report, the 
company raised guidance for the second and third quarter and 
estimated earnings of 1 to 2-cents per share for the second-quarter 
(they report on July 31st) on sales from $297 million to 
$310 million.

Why We Like It:
Now that the dust is settling from the dot-bomb, it is easier to 
take stock of the survivors absent the hype of the bubble and 
anguish of the burst.  Despite its well-publicized withdrawal from 
its failed venture with name-your-own groceries and the entry of 
new competitors, Priceline.com has managed to grab a strong position 
in the online travel industry.  

The online travel industry is one of the few pure Internet areas 
flourishing.  It is expected to grow 25-percent a year through 
2005.  The reason is a fundamental shift in the industry from 
traditional travel agents to online brokers like Priceline and 
rivals Expedia and Orbitz.  

Now that the restructured Priceline is focusing on its core travel 
market, it expects to reach profitability in its second-quarter.  
Margins are also expected to improve from 15.6-percent in 2000 to 
20-percent in 2001.  Considering the improved fundamentals, good 
prospects,  and that the firms shares are selling at a discount to 
rivals Travelocity and Expedia, value investors are becoming 
increasingly attracted to Priceline stock.  After plummeting from 
$99.75 during the height of the Internet craze to $1.06 in late 
December, the shares have slowly but steadily been gathering strength. 
The coming earnings announcement should provide some short-term 
impetus to the shares.  A strong move last Friday suggests they are 
beginning another leg up to test $10.  If the shares break over $10 
they should be in good position to tackle the $15 to $18 range.       

Picked on July 13th $8.70
Earnings Date        7/31 (Not Confirmed)
 




===============
NB Play Updates
===============

  -----------------------
  NB Bullish Play Updates
  -----------------------

Electronic Arts - ERTS - close: 58.95 change: +0.85 stop: 53.50

Nothing new to report for ERTS in the media.  The stock has 
posted its 3rd positive day in a row and is quickly approaching
potential resistance at $60.  We finally have a positive MACD
crossover but new trades should be entered into carefully.  We
could easily see the stock pull back to $56 or $57 before moving
higher.  Volume was less than average on Friday.  Earnings are
about two weeks away.

Picked on July 7th @ $54.38
Gain since picked:   + 4.57
Earnings Date:      7/26/01 (confirmed)




---

Intl. Business Mach. - IBM - close:$108.53 change:+1.28 stop:103.85

The Big Blue stock car is racing into earnings season and we 
quickly approach the final lap.  IBM is due to report on Wednesday,
July 11th, after the close.  Estimates are for $1.15 a share.  
With a tech rally underway and fellow big-cap stock MSFT has
pre-warned positive earnings.  Will IBM meet or beat estimates
or will they crash and burn littering debris that will seriously
impede the rest of the market?  As IBM's earnings announcement
could be a market moving event (much less a stock moving event)
we will NOT be holding this play over the announcement.  To
much excitement, too many whispers, too much expectation could
turn a positive report into a "sell the news" as investors 
breathe a sigh of relief.  Traders should take note that shares
of IBM are approaching resistance.  It would be natural to think
that $110 would be resistance but in truth we should be watching
the $111 level.  Once over $111 then the stock could fast forward
to $116 or even $120.  Whatever the case, we will not be holding
over earnings.  Look for the drop on Tuesday or Wednesday of
next week.

Picked on July 11th @ $103.85
Gain since picked:     + 4.68
Earnings Date:        7/18/01 (confirmed)




---

Nokia Corp ADS - NOK - close:$18.30 change:-0.83 stop:17.50 

Buying at the bottom is what Nokia investors are hoping for
as the stock wallows near 22 month lows.  Whether this is
a buying opportunity or not depends on NOK's earnings report
next Thursday.  As many of us know the company has already
warned that profits would be 15% to 25% less than previously
projected.  Analyst believe that NOK will come in on the low
end of new estimates near 15 (European) cents.  A full 70%
of sales come from its phone unit.  While there has been a
serious slow down in world-wide demand the recent earnings
report from rival Motorola, who reported a rise in sales
for its own handset business, is giving some NOK investors
hope the Finnish company might do the same and report a
rise in phone sales.  Whereas we often close plays prior to
an earnings report, we are keeping the possibility of 
leaving this one open.

Picked on July 12th @ $ 19.13
Gain since picked:      -0.83
Earnings Date:        7/19/01 (confirmed)





==================================================================
Stock Bottom / Active Trader (AT) section
==================================================================

============
AT New Plays
============

  --------------
  New Long Plays
  --------------

RailAmerica Inc. - RAIL - Close:$11.41 Change:+0.20 Stop:$10.25

Company Description:
Number 103 in the Forbes 200 Best Small companies list this fast 
growing company operates short line railroads in six Canadian 
provinces and 22 states in the US, as well as in Australia and 
Chile. Overall, RailAmerica owns interests in 39 short line and 
regional railroads that cover about 11,000 route miles.  It also 
manufactures a broad range of specialty truck trailers.  The 
company has been unloading noncore operations to pay down debt 
incurred from its acquisition of US rival RailTex, but is looking 
to expand its international operations into Argentina and 
New Zealand. 

Fundamentals:
Last year, the company earned 74-cents per share.  Analysts predict 
the firm will earn $1.00 this year and $1.30 in 2002.  This gives 
them a current P/E of 15 and a forward P/E of 11 for 2001 and 9 for 
2002.  The industry average P/E is 18.  For the first quarter of 
2001, revenue jumped 14-percent to $92 million   from the year-ago 
quarter, net income moved from a loss of $1.1 million to a gain of 
$2.9 million.  The company has total liabilities of $712 million and 
total assets of $815 million.  

Why We Like It:
This company is well-managed with a low P/E and lots of debt.  Thus 
far management has been able to manage the debt well and has been 
effective in trimming it down.  However, the debt level makes this 
a play for more risk tolerant traders.  The plus side is the debt was 
money well spent on strategic acquisitions.  The $350 million purchase 
of RailTex alone gave RailAmerica 4,100 miles of rail lines in North 
America making it the world's largest operator of short line and 
regional railroads.  Railroads are one of the first beneficiaries 
of an economic recovery and RailAmerica is well poised to take 
their share.  

Another wrinkle is the level of short interest in the shares.  As 
of the latest figures available, on June 8th 35-percent of the 
company's small float of 2.6 million shares is in a short position.
This means that as of that time, there were a lot of traders 
thinking this stock was going to drop.  A short late-June spike in 
the shares may have shaken out some of the shorts, but it is also 
possible may a number are still lurking around.  It also means that 
a positive move in this stock will force a number of nervous shorts 
to cover, driving the shares to new highs. 
 
This past week, the shares formed a base above support at $11.00.  
A spike in volume on Friday suggests the shares may be ready to 
break out of this area.  The catalyst was a news release by the 
company, stating that it was revising its June and year-to-date 
carload figure up to account for sold railroads.   For the year, 
they are reporting a 6-percent increase and a 2-percent increase 
in June.  Another positive is the strong performance of the 
transports (check out Jeff Bailey's analysis in the Weekend 
Market Wrap); this indicates investors are rotating into the 
cyclicals to get positioned for an economic recovery.  Add it 
up and we believe RAIL is ready to roll.  We will enter this 
position with a $10.25 stop.

Picked on July 13th $11.41
Earnings Date         N/A(Not Confirmed)
 



===

Laboratory America - LH - Close: $83.98 Change:+2.67 Stop:$79.75

Company Profile:
LH, an independent clinical laboratory company, offers a broad 
range of testing services used by the medical profession in the 
diagnosis, monitoring and treatment of diseases and other clinical 
states. For the 3 months ended 3/01, revenues rose 14% to $525.4M. 
Net income applicable to Common totaled $43.5M, up from $10.8M. 
Revenues reflect higher prices and volumes. Net income also 
reflects the absence of $14.9M in preferred dividends.

Fundamentals:
For the 2000 fiscal year the company's net income increased 50.6-
percent.  Analysts expect company earnings to rise from $2.50 in 
2001 to $3.20 in 2002.  This gives LH shares a low current P/E of 
34 and a forward P/E of 26.

Why We Like It:
LH closed the week with a breakout above formidable resistance 
just under $82.00.  For all intents and purposes this level had 
been tested on four separate occasions and the stock had not been 
able to get past it.  This time was different, however, and it 
came on a day where volume exceeded the average number of shares 
traded.  The Biotech sector has not had an easy time of things 
over the last 6 weeks.  We believe that with earnings season on 
the horizon, LH has the potential to continue recent momentum.

Technically, the recent crossover over of MACD suggests that the 
momentum could be in favor of LH.  Stochastics indicate that the 
stock might require a breather before extending higher, perhaps 
slightly overbought.  But, given the current trading range as well 
as the fundamental factors in LH's favor, we believe that if the 
requisite volume arrives on Monday, the rally could go as high as 
$89.00 in the short-term.

Picked on July 13th $83.98
Earnings Date          7/23 (Confirmed)





===============
AT Play Updates
===============

  -----------------
  Long Play Updates
  -----------------

AmeriPath Path - PATH - Close:$32.94 Gain:+0.24 Stop:$29.50

Ameripath sold off in the morning, but kept clawing its way higher 
and finished up 24 cents.  Not a great day, but it kept a string 
of 6 straight winning days intact.  This stock will have to pause 
eventually, but hopefully not too soon.

Picked on July 11th at $30.95
Gain since picked:      +1.99
Earnings Date           7/31/01




===

Nasdaq-100 Tracking Stock - QQQ - Close:$43.70 Gain:+0.25 Stop:$42.00

The triple Qs didn't have great day, but finished the week on a 
positive note.  We should find out on Monday if this tracking stock 
has enough momentum to break through the May downtrend.

Picked on July 6th at  $41.65
Gain since picked:      +2.05
Earnings Date             N/A




===

Tenet Healthcare - THC - Close:$53.55 Gain:-0.75 Stop:$52.00

THC has been subject to some profit taking over the past two days, 
but the stock continues to look like a healthy patient, as long as 
the big gap that formed on Wednesday remains unfilled.   An upgrade 
from Salomon Smith Barney should also help to bolster the stock.

Picked on June 17th at $51.09
Gain since picked:      +2.46
Earnings Date           7/25/01




===

Star Gas Partners - SGU - Close:$21.10 Gain:+0.20 Stop:$19.50

Star Gas continues to amble around, while volume dries up.  Sooner 
or later this stock is going to move.

Picked on June 17th at $21.18
Gain since picked:      -0.08
Earnings Date           7/26/01





  ------------------
  Short Play Updates
  ------------------

CSG Systems - CSG - Close:$54.01 Gain:-0.06 Stop:$57.75

GSG Systems finished down a whopping 6 cents.  For most of the day 
it just hid in its tight little trading range.  Those readers who 
were waiting for a break below $53.55 will need to wait another 
day.  (see 1:30 intraday update)

Picked on July 11th at $54.07
Gain since picked:      +0.06
Earnings Date            7/31






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PremierInvestor.net Newsletter         Weekend Edition 07-13-2001
                                                   Section 3 of 3
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
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In section three:
Split Announcement
Expected/Likely Split Announcements For The Coming Week 
New Split Candidates: Johnson Controls, Inc. - JCI
Market Watch for Week of July 14th - 21st
   - Major Earnings
   - Board of Directors Meetings
   - Stock Splits
   - Economic Reports

=================================================================

==================
Split Announcement
==================
Friday, July 13, 2001, 5:13 PM EDT

Harleysville Rewards Shareholders

During Friday's regular trading, Harleysville National Corp. 
(Nasdaq: HNBC) declared a 2-for-1 stock split on its common 
outstanding shares, payable in the form of a 100 percent stock 
dividend on August 10, 2001. While Harleysville has undergone 
numerous 21:20 dividends, this marks the first-ever 2:1 split in 
the Company's history. Effective on August 13, outstanding shares 
will number 18.28 million and the float will total approximately 
16 million shares.

The split announcement comes on the heels of second quarter 
earnings released on Thursday. Earnings of $7,121,000 increased 
over the prior year of $6,307,000, posting a 12.9 percent 
advance. Diluted EPS of $.76 were up 11.8 percent from $.68 for 
the year ago quarter. For June 30, 2001 the company's 
consolidated total assets rose 10.9% to $2,055,225,000.

HNBC shares are thinly traded, with a 3-month volume under seven 
thousand shares.  The stock closed up +0.38 on Friday to $44.15.

Harleysville National Corporation operates 38 banking offices in 
9 counties throughout Eastern Pennsylvania. Investment Management 
and Trust Services are provided throughout the company by its 
subsidiary, Harleysville National Bank and Trust Company.

 
 


=======================================================
Expected/Likely Split Announcements For The Coming Week
=======================================================
                                    Date Expected 
Symbol         Company              To Announce*
=================================================
DFXI           Direct Focus              7/17
GDW            Golden West Financial     7/18
STJ            ST. Jude Medical          7/18
SLM            USA Education             7/19
THQI           THQ Incorporated          7/19
=================================================

DFXI - Direct Focus

This fitness and health products marketing company completed its 
latest split just this past January, but low and behold, the 
stock has made its way back up to the twice-over historical split 
level of $45. There are enough authorized shares for a 3:2, which 
is the ratio the Board has favored in the past. We're going to be 
watching for Tuesday's earnings release as a catalyst for their 
next possible announcement.

chart = 


===

GDW - Golden West Financial

Savings and loan company, Golden West, has announced three prior 
splits in the $40-50 range, giving us forewarning of an upcoming 
fourth split due to the stock's current levels. There are 159 
million shares outstanding with only 200 million shares 
authorized, giving necessity to a shareholders meeting before 
final approval. The Company's earnings release on Wednesday could 
prove to be the Board's initial date of declaration.

chart = 


===

STJ - ST. Jude Medical   

St. Jude has held on to tremendous gains this year and even 
traded beyond the 52-week high on Friday at $66.75.  This has us 
alerted to the fact that the last two stock splits (announced in 
1990 and 1995) were at the $50 level and that the Company may be 
ready to bring prices down once again. There are 85.7 million 
shares outstanding and 250 authorized.  Look to the earnings 
release on Wednesday as a trigger.

chart = 


===       

SLM  - USA Education   

Parent company of Sallie Mae, USA Education remains in range of 
March's 52-week high of $76.50, keeping prices at a good 
psychological level for a stock split. With 250 million shares 
authorized and 163 million shares outstanding, there is room for 
a 3:2 but we would expect the Company to increase authorized 
shares at some point. In 1998 SLM issued a 7-for-2 split which 
brought prices back down to a more manageable $40 per share. 
We're looking for another possible announcement in conjunction 
with the July 19 earnings release, however we admit that this one 
is a wildcard judging from how high the Board has let stock 
prices get in the past.

chart = 


===

THQI - THQ Incorporated

The game software industry has been on a tremendous run this year 
with room for more gains, some analysts believe.  THQI is right 
along with other stocks of this sector that have tripled over the 
last six months, making the company a good candidate for a split.  
As a matter of fact, shareholders are meeting on July 20 (the day 
after the earnings release) to vote on increasing the authorized 
shares to 75 million. Further convincing us of the Board's 
intention of at least a 3:2 announcement, the stock is currently 
trading well above previous split levels of $31 - $42. Look to 
either the earnings release on the 19th or the shareholders 
meeting on the 20th as the trigger event.

chart = 



=======================================
New Split Candidates to add to the List
=======================================

JCI - Johnson Controls, Inc.

JCI was added to our candidates list on 7/10 and was immediately 
picked up for a Play recommendation in order to take advantage 
of, along with other issues, a breakout from resistance of $75. 
If momentum continues, the stock will soon be in close range of 
the last 2:1 stock split announced in 1997 at prices of $87.50.  
Earnings are due out on the 18th, providing a possible catalyst 
for another split if the Board feels that ambitious. 

Please see our Current Play List for detailed information.

chart = 



==================================================
Market Watch for the week of June 25th - June 29th
==================================================

  ------------------------
  Major Earnings This Week
  ------------------------
Symbol  Company             Date        EPS Est    Comment

ADTN    ADTRAN              Mon, JUL 16  0.15      ----- n/a -----
AL      Alcan Inc.          Mon, JUL 16  0.57      Before the Bell
BAC     Bank of America     Mon, JUL 16  1.18      07:30 am ET
BK      Bank of New York    Mon, JUL 16  0.53      ----- n/a -----
CX      Cemex, S.A.         Mon, JUL 16  0.95      ----- n/a -----
C       Citigroup           Mon, JUL 16  0.73      Before the Bell
CAL     Continental Air     Mon, JUL 16  0.58      ----- n/a -----
DOV     Dover               Mon, JUL 16  0.39      After the Close
DSL     Downey Financial    Mon, JUL 16  1.03      Before the Bell
ETN     Eaton               Mon, JUL 16  0.90      Before the Bell
ESIO    Electro Scientific  Mon, JUL 16  0.51      After the Close
ESV     ENSCO Int'l         Mon, JUL 16  0.42      Before the Bell
FITB    Fifth Third Bancorp Mon, JUL 16  0.58      Before the Bell
GPT     GreenPoint Fincl    Mon, JUL 16  0.86      After the Close
GMH     Hughes Electronics  Mon, JUL 16 -0.12      ----- n/a -----
RX      IMS Health          Mon, JUL 16  0.22      ----- n/a -----
LSS     Lone Star Tech      Mon, JUL 16  0.61      ----- n/a -----
MHK     Mohawk Industries   Mon, JUL 16  0.75      ----- n/a -----
NHP     Nationwide Health   Mon, JUL 16  0.52      4:00 pm ET
NHY     Norsk Hydro         Mon, JUL 16  N/A       ----- n/a -----
NTRS    Northern Trust      Mon, JUL 16  0.56      Before the Bell
NVLS    Novellus Systems    Mon, JUL 16  0.39      After the Close
PKG     Packaging Corp      Mon, JUL 16  0.25      Before the Bell
PRK     Park National       Mon, JUL 16  1.37      ----- n/a -----
PNW     Pinnacle West       Mon, JUL 16  1.13      ----- n/a -----
RLRN    Renaissance Lrning  Mon, JUL 16  0.20      After the Close
TIN     Temple Inland       Mon, JUL 16  0.45      ----- n/a -----
UIS     Unisys              Mon, JUL 16  0.09      After the Close
WFT     Weatherford         Mon, JUL 16  0.40      Before the Bell

------------------------------------------------------------------
ADVS    Advent Software     Tue, JUL 17  0.23      After the Close
ATI     Allegheny Tech      Tue, JUL 17  0.10      ----- n/a -----
ASO     AmSouth Bancorpor   Tue, JUL 17  0.35      ----- n/a -----
AAPL    Apple Computer      Tue, JUL 17  0.15      After the Close
BWE     BancWest            Tue, JUL 17  0.47      After the Close
ONE     Bank One            Tue, JUL 17  0.60      ----- n/a -----
BGEN    Biogen              Tue, JUL 17  0.46      Before the Bell
BDK     Black & Decker      Tue, JUL 17  0.54      ----- n/a -----
CHRW    C.H. Robinson       Tue, JUL 17  0.25      After the Close
BCR     C.R. Bard           Tue, JUL 17  0.67      ----- n/a -----
CDN     Cadence Design Sys  Tue, JUL 17  0.17      After the Close
COF     Capital One         Tue, JUL 17  0.70      After the Close
CSL     Carlisle Companies  Tue, JUL 17  0.65      Before the Bell
CAT     Caterpillar         Tue, JUL 17  0.71      11:00 am ET
CNT     CenterPoint Prop    Tue, JUL 17  0.92      After the Close
CYN     City National       Tue, JUL 17  0.72      Before the Bell
CCE     Coca-Cola           Tue, JUL 17  0.29      ----- n/a -----
CTSH    Cognizant Tech      Tue, JUL 17  0.29      Before the Bell
CMA     Comerica            Tue, JUL 17  1.17      Before the Bell
CBSH    Commerce Bancshares Tue, JUL 17  0.70      ----- n/a -----
CORR    COR Therapeutics    Tue, JUL 17  0.05      Before the Bell
CPO     Corn Products       Tue, JUL 17  0.43      Before the Bell
CRY     CryoLife            Tue, JUL 17  0.13      Before the Bell
DTL     Dal-Tile Intl       Tue, JUL 17  0.33      Before the Bell
DCN     Dana                Tue, JUL 17  0.13      ----- n/a -----
DO      Diamond Offshore    Tue, JUL 17  0.33      Before the Bell
DIGL    Digital Lightwave   Tue, JUL 17  0.25      4:00 pm ET
DFXI    Direct Focus        Tue, JUL 17  0.50      After the Close
DUK     Duke Energy         Tue, JUL 17  0.52      After the Close
EK      Eastman Kodak       Tue, JUL 17  1.12      Before the Bell
EXAR    Exar                Tue, JUL 17  0.02      Before the Bell
FNM     Fannie Mae          Tue, JUL 17  1.27      ----- n/a -----
FE      FirstEnergy         Tue, JUL 17  0.68      ----- n/a -----
FRX     Forest Laboratories Tue, JUL 17  0.36      Before the Bell
FULT    Fulton Financial    Tue, JUL 17  0.37      ----- n/a -----
GCI     Gannett             Tue, JUL 17  0.88      Before the Bell
GM      General Motors      Tue, JUL 17  1.14      08:00 am ET
GNTX    Gentex              Tue, JUL 17  0.21      ----- n/a -----
GLM     Global Marine       Tue, JUL 17  0.34      Before the Bell
GSB     Golden State Banc   Tue, JUL 17  0.68      Before the Bell
GGG     Graco               Tue, JUL 17  0.58      ----- n/a -----
HSC     Harsco Corporation  Tue, JUL 17  0.59      Before the Bell
HBAN    Huntington Banc     Tue, JUL 17  0.28      Before the Bell
IEX     Idex                Tue, JUL 17  0.44      Before the Bell
IDXX    Idexx Laboratories  Tue, JUL 17  0.29      07:00 am ET
INTC    Intel               Tue, JUL 17  0.10      After the Close
IP      International Paper Tue, JUL 17  0.05      Before the Bell
IWOV    Interwoven          Tue, JUL 17  0.00      5:00 pm ET
IVC     Invacare            Tue, JUL 17  0.51      Before the Bell
JNC     John Nuveen         Tue, JUL 17  0.83      Before the Bell
JNJ     Johnson & Johnson   Tue, JUL 17  0.53      Before the Bell
KEY     KeyCorp             Tue, JUL 17  0.06      Before the Bell
KRI     Knight-Ridder       Tue, JUL 17  0.69      06:30 am ET
MDC     M.D.C Holdings      Tue, JUL 17  1.32      Before the Bell
MYG     Maytag              Tue, JUL 17  0.32      Before the Bell
MEGa    Media General       Tue, JUL 17  0.30      Before the Bell
MEL     Mellon Bank         Tue, JUL 17  0.55      ----- n/a -----
MER     Merrill Lynch       Tue, JUL 17  0.54      ----- n/a -----
MLNM    Millennium Pharm    Tue, JUL 17 -0.17      After the Close
MLI     Mueller Industries  Tue, JUL 17  0.55      Before the Bell
NCR     NCR                 Tue, JUL 17  0.39      ----- n/a -----
NNS     Newport News        Tue, JUL 17  0.83      ----- n/a -----
PFE     Pfizer              Tue, JUL 17  0.29      ----- n/a -----
PPDI    Pharma. Product     Tue, JUL 17  0.19      After the Close
PBI     Pitney Bowes        Tue, JUL 17  0.58      After the Close
PLT     Plantronics         Tue, JUL 17  0.16      After the Close
PPP     Pogo Producing      Tue, JUL 17  0.58      ----- n/a -----
PII     Polaris Industries  Tue, JUL 17  0.69      Before the Bell
PMTC    PTC                 Tue, JUL 17  0.03      Before the Bell
RJF     Raymond James       Tue, JUL 17  0.44      ----- n/a -----
RNWK    RealNetworks        Tue, JUL 17  0.02      After the Close
RFMD    RF Micro Devices    Tue, JUL 17 -0.05      After the Close
RSLN    Roslyn Bancorp      Tue, JUL 17  0.45      ----- n/a -----
PHG     Royal Philips       Tue, JUL 17   N/A      Before the Bell
SDC     Santa Fe Intl       Tue, JUL 17  0.36      After the Close
SKFR    SKF AB ADR          Tue, JUL 17   N/A      Before the Bell
SKYF    Sky Financial Group Tue, JUL 17  0.35      ----- n/a -----
SWK     Stanley Works       Tue, JUL 17  0.58      Before the Bell
STT     State Street        Tue, JUL 17  0.48      Before the Bell
SYK     Stryker             Tue, JUL 17  0.32      4:00 pm ET
SRDX    SurModics           Tue, JUL 17  0.10      After the Close
TDS     Telephone Data      Tue, JUL 17  0.83      Before the Bell
TER     Teradyne            Tue, JUL 17 -0.12      6:30 pm ET
TSS     TSYS                Tue, JUL 17  0.13      ----- n/a -----
USM     U.S. Cellular       Tue, JUL 17  0.65      Before the Bell
UHS     Universal Health    Tue, JUL 17  0.47      After the Close
USB     US Bancorp          Tue, JUL 17  0.43      ----- n/a -----
VRTS    Veritas Software    Tue, JUL 17  0.19      After the Close
VFC     VF                  Tue, JUL 17  0.55      After the Close
WM      Washington Mutual   Tue, JUL 17  0.81      After the Close
WFC     Wells Fargo         Tue, JUL 17  0.01      Before the Bell
WABC    Westamerica Bancorp Tue, JUL 17  0.57      11:00 am ET
WHR     Whirlpool           Tue, JUL 17  1.25      07:00 am ET
------------------------------------------------------------------

AKAM    Akamai Technologies Wed, JUL 18 -0.50      ----- n/a -----
ALEX    Alexander&Baldwin   Wed, JUL 18   N/A      After the Close
AHAA    Alpha Industries    Wed, JUL 18 -0.09      5:15 pm ET
ABK     Ambac Financial     Wed, JUL 18  0.98      Before the Bell
ASD     American Standard   Wed, JUL 18  1.61      Before the Bell
APH     Amphenol            Wed, JUL 18  0.53      ----- n/a -----
AMR     AMR                 Wed, JUL 18  0.71      2:00 pm ET
AOL     AOL Time Warner     Wed, JUL 18  0.28      Before the Bell
AMCC    Applied Micro       Wed, JUL 18 -0.05      After the Close
ASML    ASM Lithography     Wed, JUL 18  0.01      ----- n/a -----
BXS     BancorpSouth        Wed, JUL 18  0.28      After the Close
BDX     Becton Dickinson    Wed, JUL 18  0.46      After the Close
BA      Boeing              Wed, JUL 18  0.91      Before the Bell
BOKF    BOK Financial       Wed, JUL 18  0.48      ----- n/a -----
BXP     Boston Properties   Wed, JUL 18  0.86      ----- n/a -----
BSX     Boston Scientific   Wed, JUL 18  0.20      ----- n/a -----
BRCM    Broadcom            Wed, JUL 18 -0.17      After the Close
BR      Burlington          Wed, JUL 18  0.80      ----- n/a -----
CLS     Celestica           Wed, JUL 18  0.40      After the Close
CD      Cendant             Wed, JUL 18  0.28      5:00 pm ET
CTX     Centex Corporation  Wed, JUL 18  1.09      ----- n/a -----
CEN     Ceridian            Wed, JUL 18  0.13      Before the Bell
CERN    Cerner              Wed, JUL 18  0.19      After the Close
SRW     Charles E. Smith    Wed, JUL 18  0.98      After the Close
CF      Charter One         Wed, JUL 18  0.57      After the Close
CNF     CNF Transportation  Wed, JUL 18  0.16      Before the Bell
CVTX    CV Therapeutics     Wed, JUL 18 -0.88      Before the Bell
DPH     Delphi Automotive   Wed, JUL 18  0.29      ----- n/a -----
DNB     Dun & Bradstreet    Wed, JUL 18  0.32      After the Close
ET      E*Trade             Wed, JUL 18  0.01      After the Close
EMC     EMC                 Wed, JUL 18  0.05      ----- n/a -----
EFX     Equifax             Wed, JUL 18   N/A      Before the Bell
ESRX    Express Scripts A   Wed, JUL 18  0.38      ----- n/a -----
EXTR    Extreme Networks    Wed, JUL 18 -0.01      After the Close
FSS     Federal Signal      Wed, JUL 18  0.37      Before the Bell
FBF     FleetBoston         Wed, JUL 18  0.79      Before the Bell
F       Ford Motor Company  Wed, JUL 18 -0.34      07:00 am ET
FRE     Freddie Mac         Wed, JUL 18  1.02      Before the Bell
FCX     Freeport-McMoRan    Wed, JUL 18  0.24      10:00 am ET
GD      General Dynamics    Wed, JUL 18  1.12      Before the Bell
GPC     Genuine Parts       Wed, JUL 18  0.55      ----- n/a -----
GPN     GLOBAL PMTS INC     Wed, JUL 18  0.20      After the Close
GDW     Golden West         Wed, JUL 18  1.19      ----- n/a -----
GBBK    Greater Bay Bancorp Wed, JUL 18  0.48      After the Close
HAND    Handspring Inc      Wed, JUL 18 -0.32      After the Close
HET     Harrah`s Ent        Wed, JUL 18  0.48      ----- n/a -----
HNCS    HNC Software        Wed, JUL 18  0.13      After the Close
HI      Household Intl      Wed, JUL 18  0.93      09:00 am ET
HU      Hudson United       Wed, JUL 18  0.48      Before the Bell
ITWO    i2 Technologies     Wed, JUL 18 -0.12      After the Close
IBIS    Ibis Technology     Wed, JUL 18 -0.20      Before the Bell
IMNX    Immunex             Wed, JUL 18  0.07      After the Close
IBM     IBM                 Wed, JUL 18  1.15      After the Close
ISSX    Internet Security   Wed, JUL 18 -0.01      Before the Bell
ITG     Investment Tech     Wed, JUL 18  0.59      Before the Bell
JPM     J.P. Morgan Chase   Wed, JUL 18  0.65      Before the Bell
JCI     Johnson Controls    Wed, JUL 18  1.44      Before the Bell
KMI     Kinder Morgan       Wed, JUL 18  0.38      ----- n/a -----
NITE    Knight Trading      Wed, JUL 18  0.09      Before the Bell
KFT     Kraft Foods Inc.    Wed, JUL 18  0.32      ----- n/a -----
LEG     Leggett & Platt     Wed, JUL 18  0.24      After the Close
LVLT    Level 3             Wed, JUL 18 -2.00      Before the Bell
LECO    Lincoln Electric    Wed, JUL 18  0.51      Before the Bell
LIN     Linens `n Things    Wed, JUL 18  0.12      Before the Bell
MEA     Mead                Wed, JUL 18  0.14      Before the Bell
MRBK    Mercantile Bank     Wed, JUL 18  0.62      Before the Bell
MERQ    Mercury Interactive Wed, JUL 18  0.18      2:00 pm ET
MXT     Metris              Wed, JUL 18  0.60      ----- n/a -----
MUSE    Micromuse           Wed, JUL 18  0.12      After the Close
MNMD    Minimed             Wed, JUL 18  0.13      Before the Bell
NCBC    National Commerce   Wed, JUL 18   N/A      ----- n/a -----
NAP     National Processing Wed, JUL 18  0.26      Before the Bell
NDN     99 CENTS Only       Wed, JUL 18  0.20      Before the Bell
NYT     New York Times      Wed, JUL 18  0.43      Before the Bell
OO      Oakley              Wed, JUL 18  0.33      Before the Bell
MO      Philip Morris       Wed, JUL 18  1.03      ----- n/a -----
POM     Potomac Electric    Wed, JUL 18  0.39      ----- n/a -----
PGR     Progressive         Wed, JUL 18  1.23      After the Close
PFGI    Provident Financial Wed, JUL 18  0.63      ----- n/a -----
PNM     Public Svce Co NM   Wed, JUL 18  0.85      After the Close
RTN     Raytheon Class B    Wed, JUL 18  0.31      After the Close
RHI     Robert Half Intl    Wed, JUL 18  0.20      After the Close
JOE     Saint Joe Company   Wed, JUL 18  0.14      ----- n/a -----
SNDK    SanDisk             Wed, JUL 18 -0.06      After the Close
SANM    Sanmina             Wed, JUL 18  0.13      After the Close
SCHL    Scholastic          Wed, JUL 18  0.93      After the Close
SEBL    Siebel Systems      Wed, JUL 18  0.13      After the Close
SSTI    Silicon Storage     Wed, JUL 18  0.01      ----- n/a -----
SII     Smith International Wed, JUL 18  0.72      Before the Bell
SON     Sonoco Products     Wed, JUL 18  0.38      ----- n/a -----
SOTR    SouthTrust          Wed, JUL 18  0.39      Before the Bell
STJ     St. Jude Medical    Wed, JUL 18  0.54      Before the Bell
SDRC    Structural Dynamics Wed, JUL 18  0.19      4:10 pm ET
SUP     Superior Industries Wed, JUL 18  0.51      ----- n/a -----
SYMC    Symantec            Wed, JUL 18  0.41      After the Close
SNV     Synovus Financial   Wed, JUL 18  0.26      ----- n/a -----
TCB     TCF Financial       Wed, JUL 18  0.64      08:30 am ET
TFX     Teleflex            Wed, JUL 18  0.82      ----- n/a -----
TLAB    Tellabs             Wed, JUL 18  0.00      Before the Bell
KO      The Coca-Cola Co    Wed, JUL 18  0.43      08:00 am ET
TVLY    Travelocity.com     Wed, JUL 18  0.04      After the Close
UB      UnionBanCal         Wed, JUL 18  0.70      After the Close
UTX     United Technologies Wed, JUL 18  1.15      ----- n/a -----
U       US Airways          Wed, JUL 18 -0.57      Before the Bell
------------------------------------------------------------------
AOG     Alberta Energy      Thu, JUL 19   N/A      Before the Bell
ALE     Allete              Thu, JUL 19   0.53     Before the Bell
ALL     Allstate            Thu, JUL 19   0.71     Before the Bell
ANDW    Andrew Corporation  Thu, JUL 19   0.13     After the Close
ATR     AptarGroup          Thu, JUL 19   0.54     After the Close
ARB     Arbitron            Thu, JUL 19   0.14     Before the Bell
ARBA    Ariba               Thu, JUL 19  -0.12     ----- n/a -----
ARTC    ArthroCare          Thu, JUL 19   0.11     After the Close
ARM     ArvinMeritor Inc.   Thu, JUL 19   0.43     Before the Bell
ASBC    Associated Banc     Thu, JUL 19   0.64     ----- n/a -----
ASFC    Astoria Financial   Thu, JUL 19   1.17     Before the Bell
ATML    Atmel               Thu, JUL 19   0.06     4:00 pm ET
AVP     Avon Products       Thu, JUL 19   0.57     Before the Bell
BOL     Bausch & Lomb       Thu, JUL 19   0.22     Before the Bell
BAX     Baxter Intl         Thu, JUL 19   0.41     Before the Bell
BRW     Broadwing Comm      Thu, JUL 19  -0.18     ----- n/a -----
BOBJ    Business Objects    Thu, JUL 19   0.16     After the Close
CDWC    CDW Computer        Thu, JUL 19   0.41     After the Close
CHRT    Chartered Semi      Thu, JUL 19  -0.78     After the Close
CTXS    Citrix Systems      Thu, JUL 19   0.17     After the Close
CMRC    Commerce One        Thu, JUL 19  -0.14     After the Close
CPWR    Compuware           Thu, JUL 19   0.11     After the Close
CNXT    Conexant Systems    Thu, JUL 19  -0.44     After the Close
ED      Consolidated Edison Thu, JUL 19   0.41     ----- n/a -----
CTB     Cooper Tire         Thu, JUL 19   0.25     ----- n/a -----
CY      Cypress Semi        Thu, JUL 19   0.00     ----- n/a -----
CYT     Cytec Industries    Thu, JUL 19   0.61     After the Close
DHI     D.R. Horton         Thu, JUL 19   0.84     Before the Bell
DHR     Danaher             Thu, JUL 19   0.63     Before the Bell
DAL     Delta Air Lines     Thu, JUL 19  -1.20     ----- n/a -----
DLX     Deluxe              Thu, JUL 19   0.59     Before the Bell
DTC     Domtar              Thu, JUL 19    N/A     ----- n/a -----
EPNY    E.Piphany           Thu, JUL 19  -0.29     ----- n/a -----
ELNK    EarthLink, Inc.     Thu, JUL 19  -0.27     Before the Bell
EBAY    eBay                Thu, JUL 19   0.09     After the Close
ECL     Ecolab              Thu, JUL 19   0.38     Before the Bell
LLY     Eli Lilly           Thu, JUL 19   0.74     ----- n/a -----
EQT     Equitable Resources Thu, JUL 19   0.46     Before the Bell
FMER    FirstMerit          Thu, JUL 19   0.45     ----- n/a -----
FLEX    Flextronics         Thu, JUL 19   0.19     After the Close
FO      Fortune Brands      Thu, JUL 19   0.64     Before the Bell
GTW     Gateway             Thu, JUL 19  -0.01     After the Close
GENZ    Genzyme             Thu, JUL 19   0.28     ----- n/a -----
GP      Georgia-Pacific     Thu, JUL 19   0.00     Before the Bell
GDT     Guidant             Thu, JUL 19   0.37     After the Close
HF      Heller Financial    Thu, JUL 19   0.73     After the Close
HP      Helmerich & Payne   Thu, JUL 19   0.73     ----- n/a -----
HUBb    Hubbell             Thu, JUL 19   0.38     11:00 am ET
IDPH    Idec Pharm          Thu, JUL 19   0.15     After the Close
ITW     Illinois Tool Works Thu, JUL 19   0.77     Before the Bell
INCY    Incyte Genomics     Thu, JUL 19  -0.23     After the Close
NDE     IndyMac Bancorp     Thu, JUL 19   0.45     Before the Bell
INFA    Informatica         Thu, JUL 19  -0.01     After the Close
IR      Ingersoll-Rand      Thu, JUL 19   0.55     Before the Bell
INKT    Inktomi             Thu, JUL 19  -0.18     After the Close
INSUA   Insituform Tech     Thu, JUL 19   0.42     After the Close
IDTI    Integrated Dev Tech Thu, JUL 19  -0.03     After the Close
IGT     Intl Gaming Tech    Thu, JUL 19   0.70     Before the Bell
ESI     ITT Educational     Thu, JUL 19   0.20     Before the Bell
ITT     ITT Industries      Thu, JUL 19   0.83     Before the Bell
LIZ     Liz Claiborne       Thu, JUL 19   0.62     Before the Bell
MACR    Macromedia          Thu, JUL 19  -0.17     After the Close
MAN     Manpower            Thu, JUL 19   0.45     Before the Bell
MAT     Mattel              Thu, JUL 19   0.01     ----- n/a -----
MCHP    Microchip Tech      Thu, JUL 19   0.16     After the Close
MSFT    Microsoft           Thu, JUL 19   0.42     ----- n/a -----
MIL     Millipore           Thu, JUL 19   0.31     After the Close
NETA    Network Associates  Thu, JUL 19  -0.06     After the Close
NOK     Nokia               Thu, JUL 19   0.14     ----- n/a -----
NT      Nortel Networks     Thu, JUL 19  -0.48     After the Close
NWAC    Northwest Airlines  Thu, JUL 19  -0.74     Before the Bell
NUE     Nucor               Thu, JUL 19   0.44     ----- n/a -----
OXY     Occidental Petro    Thu, JUL 19   1.03     Before the Bell
ODP     Office Depot        Thu, JUL 19   0.12     ----- n/a -----
PEP     Pepsico             Thu, JUL 19   0.43     Before the Bell
PKI     PerkinElmer         Thu, JUL 19   0.36     Before the Bell
PMCS    PMC-Sierra          Thu, JUL 19  -0.08     After the Close
PPG     PPG Industries      Thu, JUL 19   0.87     ----- n/a -----
PCP     Precision Castparts Thu, JUL 19   0.71     Before the Bell
PSD     Puget Sound Energy  Thu, JUL 19   0.30     Before the Bell
OAT     Quaker Oats         Thu, JUL 19   1.22     Before the Bell
RJR     R.J. Reynolds       Thu, JUL 19   1.25     ----- n/a -----
RGBK    Regions Financial   Thu, JUL 19   0.57     After the Close
RETK    Retek               Thu, JUL 19   0.01     Before the Bell
TSG     Sabre Holdings      Thu, JUL 19   0.66     Before the Bell
SAP     SAP A.G. ADS        Thu, JUL 19   0.13     ----- n/a -----
SFA     Scientific-Atlanta  Thu, JUL 19   0.47     After the Close
S       Sears Roebuck       Thu, JUL 19   0.92     Before the Bell
SEIC    SEI Investments     Thu, JUL 19   0.27     ----- n/a -----
SNWL    SonicWALL           Thu, JUL 19   0.08     After the Close
LUV     Southwest Airlines  Thu, JUL 19   0.22     Before the Bell
FON     Sprint (FON Group)  Thu, JUL 19   0.28     07:30 am ET
PCS     Sprint (PCS Group)  Thu, JUL 19  -0.33     Before the Bell
SUNW    Sun Microsystems    Thu, JUL 19   0.03     ----- n/a -----
SDS     SunGard Data Sys    Thu, JUL 19   0.23     ----- n/a -----
TE      TECO Energy         Thu, JUL 19   0.51     ----- n/a -----
TGP     The Timber Company  Thu, JUL 19   0.41     Before the Bell
THQI    THQ Inc             Thu, JUL 19   0.13     After the Close
TBL     Timberland          Thu, JUL 19   0.28     Before the Bell
TMK     Torchmark           Thu, JUL 19   0.77     Before the Bell
TOS     Tosco               Thu, JUL 19   1.43     ----- n/a -----
TRB     Tribune             Thu, JUL 19   0.22     ----- n/a -----
TQNT    TriQuint Semi       Thu, JUL 19   0.03     After the Close
TRW     TRW                 Thu, JUL 19   0.64     Before the Bell
UNP     Union Pacific       Thu, JUL 19   0.91     Before the Bell
UPS     United Parcel Serv  Thu, JUL 19   0.54     ----- n/a -----
SLM     USA Education       Thu, JUL 19   0.88     ----- n/a -----
VTSS    Vitesse Semi        Thu, JUL 19  -0.06     After the Close
WIT     Wipro Limited       Thu, JUL 19   0.14     After the Close
XLNX    Xilinx              Thu, JUL 19   0.08     After the Close
ZION    Zions Bancorp       Thu, JUL 19   0.79     After the Close
------------------------------------------------------------------
APD     Air Products/Chem   Fri, JUL 20   0.60     Before the Bell
CEG     Constellation       Fri, JUL 20   0.45     ----- n/a -----
DCX     DaimlerChrysler     Fri, JUL 20   0.17     Before the Bell
D       Dominion Resource s Fri, JUL 20   0.68     Before the Bell
ELUX    Electrolux AB ADR   Fri, JUL 20   0.70     Before the Bell
ERICY   Ericsson Tele       Fri, JUL 20  -0.06     ----- n/a -----
FPL     FPL Group           Fri, JUL 20   1.27     Before the Bell
G       Gillette            Fri, JUL 20   0.22     Before the Bell
HSY     Hershey Foods       Fri, JUL 20   0.38     ----- n/a -----
MRK     Merck               Fri, JUL 20   0.78     Before the Bell
NCC     National City       Fri, JUL 20   0.55     Before the Bell
PTZ     Pulitzer Publishing Fri, JUL 20   0.27     ----- n/a -----
SXT     Sensient Tech       Fri, JUL 20   0.36     ----- n/a -----
SSCC    Smurfit-Stone       Fri, JUL 20   0.03     Before the Bell
TK      Teekay Shipping     Fri, JUL 20   2.00     After the Close
TPP     Teppco              Fri, JUL 20   0.41     ----- n/a -----
UGS     Unigraphics         Fri, JUL 20    N/A     ----- n/a -----
UST     UST Inc             Fri, JUL 20   0.72     ----- n/a -----
VC      Visteon             Fri, JUL 20   0.35     09:00 am ET
WPO     Washington Post     Fri, JUL 20   2.47     ----- n/a -----
ZBRA    Zebra Technologies  Fri, JUL 20   0.60     ----- n/a -----


  ------------------------------------
  Board of Director Meetings This Week
  ------------------------------------

Symbol     Company                 Date   

BCC        Boise Cascade           7/16
CGC        Cascade Natural Gas     7/16
CYBS       CyberSource             7/16
EWBC       EastWest Bancorp        7/16
IKOS       IKOS Systems            7/16
RX         IMS Health              7/16
JNJ        Johnson & Johnson       7/16

ALTH       Allos Therapeutics      7/17
COCA       Conoco                  7/17
ECSI       Endocardial Solutions   7/17
FCF        First Commonwealth      7/17
FFFL       Fidelity Bankshares     7/17
FCBC       First Community         7/17
FSLA       First Source            7/17
ICUI       ICU Medical             7/17
KEX        Kirby Corp              7/17
WM         Washington Mutual       7/17

ALE        Allette                 7/18
ASH        Ashland                 7/18
RLRN       Renaissance Learning    7/18
BPL        Buckeye Partners        7/18
CHZ        Chittenden              7/18
CBU        Community Bank Sys      7/18
EGGS       Egghead.com             7/18
FLS        Flowserve               7/18
NDE        Indymac Bancorp         7/18
INSUA      Insituform Tech         7/18
PHLY       Philadelphia Consol.    7/18
PII        Polaris Industries      7/18
STBA       S&T Bancorp             7/18
SON        Sonoco Products         7/18
TE         TECO Energy             7/18
PIK        Water Pik Tech          7/18
WLV        Wolverine Tube          7/18

ATR        Aptargroup              7/19
APD        Air Products and Chem   7/19
CELG       Celgene Corp            7/19
CFBC       Community First Banking 7/19
CVAS       Corvas Int'l            7/19
DELL       Dell Computer           7/19
ECLP       Eclipsys Corp           7/19
EASI       Engineered Support      7/19
GNCB       GBC Bancorp             7/19
KEY        Keycorp                 7/19
LIFC       LifeCell                7/19
OSKY       Mahaska Investment      7/19
STU        Student Loan Corp       7/19
SVM        Servicemaster           7/19
TII        Thomas Industries       7/19
UMBF       UMB Financial           7/19

MACR       Macromedia              7/20
SHW        Sherwin Williams        7/20


  -------------------------------
  Upcoming Stock Splits This Week
  -------------------------------

Symbol  Company Name                  Payable Date      Ratio
RAVN - Raven Industries               07/13/2001        3:2  
XOM  - Exxon Mobil Corp               07/18/2001        2:1  
KG   - King Pharmaceuticals           07/19/2001        4:3  
TRH  - Transatlantic Holdings         07/20/2001        3:2  
UOPX - University of Phoenix          07/20/2001        3:2
TARO - Taro Pharmaceutical            07/26/2001        2:1  
MSCC - Microsemi Corp                 PENDING           2:1  


  --------------------------
  Economic Reports This Week
  --------------------------

With 181 S&P earnings reports due out next week, that's 
obviously where the market's drive will be.  Several economic 
reports due out will garner some attention though, possibly 
hinting at a definitive sign of economic direction. Among 
others, watch for the CPI report on Wednesday and the 
Philadelphia Fed Survey slated for Thursday.


Date                             Forecast      Previous

Monday, 07/16/01
Business Inventories   May          -0.1%          0.0%


Tuesday, 07/17/01
Industrial Production  Jun          -0.5%         -0.8%
Capacity Utilization   Jun          76.9%         77.4%


Wednesday, 07/18/01
CPI                    Jun           0.1%          0.4%
Core CPI               Jun           0.2%          0.1%
Housing Starts         Jun           1.6M        1.622M
Building Permits       Jun             NA        1.621M


Thursday, 07/19/01
Initial Claims         7/14          430K          445K
Trade Balance          May         -32.0B        -32.2B
Leading Indicators     Jun           0.3%          0.5%
Philadelphia Fed       Jul           -1.0          -3.7


Friday, 07/20/01
Treasury Budget        Jun          34.0B         55.9B


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