Option Investor
Newsletter

Daily Newsletter, Monday, 07/16/2001

HAVING TROUBLE PRINTING?
Printer friendly version
PremierInvestor.net Newsletter                   Monday 07-16-2001
                                                    Section 1 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/8038_1.asp
=================================================================

In section one:

Market Wrap: Silicon Can Be Slippery
Market Sentiment: FUNdamentals 
Play-of-the-Day: CSG Systems - CSGS (Bearish)
Watch List: Adding Retail and an Airline 

-----------------------------------------------------------------
U.S. Market Numbers
-----------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
-----------------------------------------------------------------
-        07-16-2001        High      Low     Volume Advance/Decline
DJIA    10472.12 - 66.94 10568.69 10446.60 1.03 bln   1184/1877	
NASDAQ   2029.12 - 55.67  2091.68  2025.41 1.48 bln   1466/2234
S&P 100   620.60 -  6.25   629.69   618.61   totals   2650/4111
S&P 500  1202.45 - 13.23  1219.63  1200.05           
RUS 2000  483.80 -  6.91   491.40   483.77
DJ TRANS 2962.79 + 22.44  2975.35  3937.45
VIX        25.31 +  1.44    25.66    23.70
Put/Call Ratio      0.58
----------------------------------------------------------------

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

Silicon Can Be Slippery by Jeff Bailey

Technology stocks that base their future on silicon, slipped 
markedly on today, as the PHLX Semiconductor Index ($SOX.X) lost 
nearly 6% of its value.  Shares of Applied Materials (AMAT) were 
the first to slip and the semiconductor equipment giant lost 9.5% 
of its value after the company said its visibility into the 
future was "foggy."  The company's CFO Joe Bronson said, "I 
wouldn't say we have or haven't achieved bottom."  Early in the 
trading session, shares of Applied Materials held their own and 
were trading near the $46 level, but by sessions end bearish 
traders had locked their radar on the stock and shot it down to 
the $41.95 level.

Applied Materials Chart - last nine months
Chart: =


After Applied Materials said that visibility was "foggy," analyst 
Joe Osha at Merrill Lynch provided some visibility that the 
market didn't like.  His research indicated that Advanced Micro 
Devices (AMD) and Intel (INTC) were both offering prices on their 
high-end desktop microprocessors that are "far below" either list 
or reported market prices.  Advanced Micro Devices fell more than 
5% during the trading session to finish at 20, while shares of 
Intel lost 3.5% of their value to close at 29.13.

Intel Chart - last four months
Chart: =


The market hates uncertainty and today's early cloud from Applied 
Materials and comments from Mr. Osha were both just thick enough 
for semiconductor bears to apply pressure.  If every cloud has a 
silver lining, then that exactly what got many technology bears 
got today.  It was fairly evident that most stocks responded 
negatively to today's semiconductor news and this is now 
something that traders need to follow up on.

Some of the news today out of the Merrill Lynch camp might give 
some insight as to why some of the computer stocks like Dell 
Computer (NASDAQ:DELL) have been trading a little more bullish as 
of late.  If the high-end processors have been coming down in 
price then perhaps that gives companies like Dell Computer some 
leeway in their pricing models.  While shares of Dell computer 
(DELL) gave back nearly 3% of its value today when the stock 
dropped to $27.12, the stock did break a two-month barrier on 
Friday when the stock was able to trade the $28 level.  One of 
the "progressions" we've talked about in the past regarding 
computers, chips and equipment did show up drastically in today's 
trading.  The thought process being that computers would show 
first sign of a recover, chips would be next and equipment would 
be bringing up the rear.  Today, the "rear" got kicked and it did 
provide some pain to other parts of the chain.  However, if you 
were bullish a computer stock like Dell Computer, the pains was 
less severe than being long shares of Applied Materials or other 
semiconductor equipment stocks like Kulicke and Soffa (KLIC).

As the trading session progressed, one thing I also noticed was 
that bond YIELDS continued to slip lower as the sessions 
progressed and that seemed to put further pressure on stocks.  
This may have been due to some bulls liquidating some stock 
positions, but I think it was more a case of equity bears 
applying pressure with some shorting activity.  With money 
flowing back into bonds in recent weeks, my feeling is that 
equity bears have little reason to worry about a prolonged stock 
market rally and today the market was looking for up-ticks (a 
term used by those shorting stocks).

I still think an equity bear (one who is buying puts or shorting 
stocks) has to exercise some caution right in here.  All three of 
the major bond yields we follow on a daily basis are getting very 
close to past reversal points.  The question I have tomorrow is, 
"Will the market continue to buy bonds tomorrow and will this 
recent pattern of buying bonds adversely impact stocks?"  While 
no one in the market knows for certain the answer to that 
question, it certainly gives traders a rather accurate predictor 
of money flow to base some trading decisions off of.


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

FUNdamentals by Jeffrey Canavan

As a dyed-in-the-wool technician, I must yield to fundamentals 
this week.  Technical indicators will still their impact, but 
they could easily be trumped by positive or negative earnings 
surprises.  As technicians, one thing we can watch is how the 
markets react to the upcoming earnings announcements.  

Take the Banking Index for example.  Citigroup and Bank of 
American reported better than expected earnings, yet gave up most 
of their profits by the end of the day.  Citigroup was up $1.85 
at one point in the day, but only finished up $0.29.  By the end 
of the day, the Banking Index was in negative territory.  An 
argument could be made that a future profit warning from Bank of 
New York hurt the index, but positive earnings from the No. 1 and 
No. 3 banks should have had a bigger impact.  Overall this sector 
looks susceptible.

Then again, most sectors are stuck in a downtrend and look 
susceptible.  The Internet Index had a chance to break its 
downtrend today, but failed.  Tomorrow could be the Retail 
Index's turn, but the way it retreated today doesn't bode well.  

The only sectors that come close to resembling an up trend are 
transports and its cousin airlines.  Biotechnology and oil 
services are oversold, but have fun trying to catch that falling 
knife.  Overall shorting looks like the best policy, and it's 
going to take a lot of positive earnings to change that. 

Luckily we have a plethora of earnings to choose from this week. 
The main focus will be on what IBM and Intel have to say, and we 
should then focus on how the market reacts to that.  If IBM and 
Intel meet or beat estimates and the market still sells off, 
something could be amiss.

*************************Sector Watch****************************

            Weekly   Daily     Overbought    Support  Resistance 
            Trend    Trend      Oversold                         

DJIA        Bearish  Bearish    Neutral       10,200   10,600
NASD        Bearish  Bearish    Neutral        1,940    2,125
S&P 500     Bearish  Bearish    Neutral        1,170    1,240
Rus 2000    Neutral  Bearish    Neutral         465       500

Semis       Bearish  Bearish    Neutral          525      585
Biotech     Bearish  Bearish    Oversold         490      550
Internet    Neutral  Bearish    Neutral          160      186
Networking  Bearish  Bearish    Neutral          300      365
Software    Bearish  Bearish    Neutral          188      210
Banking     Neutral  Neutral    Neutral          625      670
Retail      Neutral  Bearish    Neutral          850      900
Drugs       Bearish  Bearish    Neutral          365      390


                 Percent Change
            Last      Last       Last     Relative Strength
           5 Days    10 Days    30 Days      vs S&P 500
DJIA         2.8%     (0.3%)     (3.4%)       Positive
NASD         0.1%     (6.2%)     (5.6%)       Neutral
S&P 500      0.3%     (1.8%)     (4.6%)          N/A
Rus 2000    (0.4%)    (5.6%)     (3.6%)       Neutral

Semis       (1.0%)   (10.6%)     (9.6%)       Negative
Biotech    (11.9%)   (18.7%)    (20.0%)       Negative
Internet    (1.6%)    (7.9%)    (18.8%)       Neutral
Networking   0.5%     (7.3%)    (21.8%)       Neutral
Software    (3.5%)   (12.1%)    (10.6%)       Neutral
Banking     (0.4%)    (1.6%)     (2.0%)       Neutral
Retail       6.1       3.3%      (0.6%)       Positive
Drugs       (2.5%)    (0.6%)     (7.1%)       Neutral

*****************************************************************


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

CSG Systems - CSGS Close:$52.65 Change:-1.36 Stop:$55.00

Original Comments When Selected on July 12th: 

Company Description:
CSG Systems provides cost-effective customer care solutions for 
the communications industry.  Their full range of processing 
services, software and support services automate customer management 
functions such as billing, sales support, order processing, and 
invoice calculation.  CSG clients, who include telephony, high-
speed Internet, and Internet service providers, benefit from 
having a highly scaleable system that can grow with the business, 
as well as access next generation technologies that adapt to 
changing needs.   

Fundamentals:
So basically, CSG provides software to telecoms and ISPs.  Unless 
their software helps to file the paperwork for chapter 11 
bankruptcies, I have a hard time seeing a bright future for their 
product and services.  Even if their customers are still in business, 
I doubt they have the capital expenditure budget to buy or upgrade 
their software.  CSG has somehow managed to grow revenues for the 
past 4 quarters, but the rate of growth is slowing.  Cash flows 
have also dropped into negative territory, primarily due to 
financing activities.  Salomon and CSFB must also smell a rat, 
since both of the brokerage houses have downgraded the stock.  

Strategy:
With investors buying everything in sight today, CSGS' $2.43 drop 
suggests that somebody wants out.  Perhaps it was Massachusetts 
Financial Services or Seligman J.W., CSG's top two institutional 
investors.  If the other institutions get a whiff of this, it may 
set off a snowball effect.  Conservative traders may want to wait 
for some confirmation of this, which would be signaled by a drop 
below $53.55.  This level has been recent support, and is the home 
of the 38.2% retracement bracket.  Once that is support is gone, 
CSG is primed to fall to $47.60, an 11% drop.  We'll start out 
with a stop at $57.75, but will continue to lower that to reduce 
risk or most likely lock in profits.

Updated Comments:
Monday delivered the drop below $53.55 we had been anticipating.  
This puts a move to $47.60 within reach.  If the selling picks up 
momentum the following levels of support are at $45, $43.75 and 
$40.00.  We are moving our stop to $55.00.     

Picked on July 11th $54.04
Gain Since Picked    +1.42
Earnings Date         7/30


 


==========
Watch List
==========

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

Wal-Mart Stores - WMT Close:$53.48 Change: +0.58

WHY WE LIKE IT:  A value portfolio staple, Wal-Mart is the king 
of discount stores with over 1,736 stores, 888 Supercenters and 
475 Sam's Clubs expected to rack in over $216.3 billion in sales 
this year.  

POTENTIAL TRIGGER EVENT:  The shares have had a nice run gaining 
$6 in 5 trading sessions.  Although the shares managed to pick up 
58-cents on Monday, the bulls seem to be running out of gas and 
don't have the oomph to push past big-time resistance at $54.75.  
This means the shares are vulnerable to a pullback to the 200-day 
moving average at $50.41 or possibly support at $49.  Watch for a 
close below Monday's $53.48 or a session high near $54.75 to 
present favorable entry points for a bearish trade.     




---

AMR Corp.- AMR Close:$37.26 Change: -0.68

WHY WE LIKE IT:  AMR's main subsidiary is American Airlines, which 
is the second largest airline in the country after United Airlines. 
 Fuel is the second largest expense after labor for airlines; 
therefore declining fuel prices can be expected to be a big boost 
to the balance sheet and share prices.  
 
POTENTIAL TRIGGER EVENT:  After a bull run from $32.50, a brief 
dip back to support at $37 would present a good entry point.  The 
next move should be a test of resistance at $39.60 with a possible 
short-term continuation to $44.00.       




---------------------------
Continuing Watch List Items
---------------------------

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:  We wish we had have made this a play.  The 
strong steady climb, the timely pullbacks and new entry points seem 
to make it too easy.  Seeing the stock close over $76 last Thursday 
was the trigger.  Today's move to $77.96 on a spike in volume means 
it may be off to the races.  One could expect the stock to quickly 
appreciate to $80, but we might also get another shot at it if the 
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.




---

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:  Our outlook remains the same. 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.  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 fifth 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.





=================================================================
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                   Monday 07-16-2001
                                                    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/8038_2.asp
=================================================================

In section two:

Split Trader
  Split Announcements: UBS (NYSE:UBS)  
  New Plays: No new ST plays
  Play Updates: Updates to stops
  Closed Plays: No closed plays for ST

Net Bulls
  New Plays: Brocade - BRCD (Bearish)
  Play Updates: Updates to stops
  Closed Plays: Nokia Corp ADS - NOK

Stock Bottom / Active Trader
  New Plays: No new SB Plays
  Play Updates: Updates to stops
  Closed Plays: No closed plays for SB


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

===================
Split Announcements
===================

Swiss Investment Giant Splits Stock 3 for 1

Before Monday's open, UBS (NYSE:UBS) announced that it has split 
its stock on a 3-for-1 basis in order to adjust prices to levels 
in line with other global competitors.  Trading commenced on a 
split-adjusted basis with today's open at $45.40.

Previously announced, UBS share capital will also be adjusted for
a par value reduction in line with recent Swiss regulations that 
allow Swiss companies to reduce the par value of their shares 
below CHF 10 (USD $5.66). Shareholders of record as of July 13, 
2001 will receive a distribution of CHF 1.60 (USD $0.91) per 
share on July 18, 2001, resulting in a par value of CHF 2.80 (USD 
$1.59) per share.

Currently there are 426 million shares outstanding, 421.7 million 
in the float, and unlimited shares authorized for issuance. The 
stock has a 52-week range of $119.60-$177.10 and an average 3-
month volume of 44 thousand shares. With today's split 
announcement, volume by mid day was heavy with 65,000 shares 
changing hands, and prices rising to $45.90.

UBS is a leading global financial services firm with 71,000 
employees worldwide, providing a range of services to a client 
base that includes affluent individuals, corporations, 
institutions and governments. Headquartered in Switzerland, the 
firm has significant operations in all of the world's major 
financial centers. The three main business groups contained 
within the Company are UBS Switzerland, UBS Warburg and UBS Asset 
Management. In November 2000, the acquisition of Paine Webber 
Group, Inc. was completed, creating "UBS PaineWebber".

 



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

  -----------------
  Split Run Updates
  -----------------

Changed Stop:
  Cabletron Systems(CS) to $22.00

  -----------------------
  Split Candidate Updates
  -----------------------

Changed Stops:
  Alliant Techsystems (ATK) to $90.00
  Johnson Controls (JCI) to $77.50

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

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

  ---------------
  New Short Plays
  ---------------

Brocade - BRCD Closed:$34.06 Change:-1.78 Stop:$37.50

Company Description:
Brocade Communications Systems, Inc. provides the infrastructure 
equipment and software for connecting multiple data storage 
devices in a storage area network (SAN).  The SAN model has 
higher reliability because data can be redundantly stored on 
multiple devices and can easily be expanded by adding addition 
storage device to the network. The company sells through OEM 
partners, systems integrators, resellers and service providers.  

Fundamentals:
In March the economic blues caused the company to reduce 2001 
earnings and revenue guidance.  Analysts' forecast the company 
will earn 29-cents per share on revenue of $524 million.  This 
is flat against last year's earnings of 28-cents on revenue of 
$535 million.  This gives the shares a current P/E too high for 
nervous investors at 121 and a forward one of 117.  The industry 
average P/E is 110.

Why We Like It:
In fiscal 2000, 49-percent of total revenue for Brocade came from 
Compaq Computers and EMC Corporation.  With each of these companies 
issuing earning warnings citing global weakness in corporate 
spending it is difficult to see how Brocade will prosper.  Also 
problematic is a recent Merrill Lynch survey of IT executives.  
The survey said that 72-percent of the executives see tech spending 
as flat in the 2nd half of 2001 and only 18-percent seeing an 
increase in spending.  All in all, these indications bode poorly 
for high-multiple growth stocks like Brocade.  

After bouncing off of $30 support the shares are now retracing off 
of $37 resistance.  In each of the last two trading sessions, the 
bulls have been able to manufacture a test of $37 only to be pushed 
back by the bears.  Friday saw a $37.31 high turn into a $35.84 
close and a 14-cent loss.  On Monday, the test was slightly lower at 
$37.14 and the close much lower at $34.06 and a $1.88 loss for the 
day.  With bearish sentiment on the rise the next test should be of 
support at $30.  If the shares break through this level the next 
areas of support are at $25 and $20.  We will start this Bearish 
play with a stop at just above resistance at $37.50.

Picked on July 16th at $34.06
Earnings Date            8/14 (Not Confirmed)





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

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

Changed Stops:
  IBM (IBM) to $107.00
  Electronic Arts (ERTS) to $56.50

===============
NB Closed Plays
===============

  -----------------
  Closed Long Plays
  -----------------

Nokia Corp ADS - NOK - close:$17.20  change:-1.10  stop:17.50 

Nokia was very actively traded on the NYSE on Monday, but 
unfortunately it wasn't to the benefit of our bullish play. We 
were hoping for a bottom on NOK shares and were anticipating that 
it could ride along with Motorola's positive news, but that 
wasn't the case.  Even without analysts calling the MOT news a 
"head fake", market weakness had Nokia investors responding in 
kind. Shares opened down a dime from Friday's close of $18.30 and 
continued southbound through our stop of $17.50 to the day's low 
of $16.92.  Recovering slightly to the final close of $17.20, we 
may in fact have a bottom now, but we'll wait for confirmation 
before entering another play.

Picked on July 12th at $ 19.13
Gain since picked:       -1.63
Earnings Date:            7/19 (confirmed)





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

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

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

Changed Stops:
  AmeriPath (PATH) to $31.95
  Tenet Healthcare (THC) to $52.50

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

Changed Stops:
  CSG Systems (CSGS) to $55.00


=================================================================
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.




DISCLAIMER

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

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

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

Option Investor Inc
PO Box 630350
Littleton, CO 80163

E-Mail Format Newsletter Archives