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Daily Newsletter, Friday, 08/31/2001

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PremierInvestor.net Newsletter          Weekend Edition 08-31-2001
                                                    section 1 of 3
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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In section one:

Market Wrap: Fascinating, simply fascinating
Market Sentiment: Good Riddance
Play-of-the-Day: Lennar Corp - LEN (Bullish)
Watch List: Something For Everyone!

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U.S. Market Numbers
------------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
------------------------------------------------------------------
        WE 8-31          WE 8-24          WE 8-17          WE 8-10
DOW     9949.75 -473.42 10423.17 +182.39 10240.78 -175.47  - 96.53
Nasdaq  1805.43 -111.37  1916.80 + 49.79  1867.01 - 89.24  -109.86
S&P-100  577.40 - 29.31   606.71 + 12.84   593.87 - 17.54  - 12.24
S&P-500 1133.58 - 51.35  1184.93 + 22.96  1161.97 - 28.19  - 24.19
W5000  10515.09 -433.32 10948.41 +188.32 10760.09 -234.36  -248.49
RUT      468.56 - 12.25   480.81 +  5.16   475.65 +   .13  - 11.63
TRAN    2813.41 - 40.98  2854.39 + 29.74  2824.65 - 36.12  - 53.25
VIX       27.85 +  5.56    22.29 -  4.45    26.74 +  3.93  +   .42
VXN       52.86 +  5.16    47.70 -  4.32    52.02 +  3.50    48.52
TRIN        .71              .70             2.67             1.03
TICK        -33              351              201
Put/Call    .82              .56             1.07              .72
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===========
Market Wrap
===========

Fascinating, simply fascinating by Jeff Bailey

Traders that continue to work hard with their technical analysis 
may find things from time to time where the light bulb comes on.  
Observations made in the past from analysis may suddenly be 
confirmed with other techniques they've learned, or have 
forgotten about.

In recent weeks, we began trying to make some predictions on how 
the 30-year YIELD might act and identified the 5.35% level as a 
potential "key level" or "pivot point" for this bond to try and 
sniff out where this bond might find selling, and proceeds from 
those sales flow into stocks.  On Thursday, we witnessed the 30-
year YIELD ($TYX.X) dip below this pivotal 5.35% level and stocks 
suffered the consequences.  By sessions end however (on Thursday) 
there was selling in the 30-year YIELD and it managed to finish 
the session with a YIELD of 5.371%.  So far today, stock have 
been able to come back from yesterday's route and perhaps the 
action in the 30-year can continue to help us understand how 
stocks will trade as it relates to yield.  

Today, I slapped a retracement bracket on the 30-year YIELD chart 
and I almost fell out of my chair.  Perhaps some other 
subscribers have done the same thing, but simply blew off the 
correlation of the 80.9% retracement level as a coincidence.  
If so, think again as it gives credence to earlier analysis as 
5.35% being a closely watched level for buy/sell decisions for 
stocks.  If not buy bulls, then certainly for bearish traders 
looking to lock in gains on short positions.  Here's what I'm 
talking about.

30-year YIELD Chart - last nine months



A retracement bracket overlaid on the recent highs and lows for 
the YIELD on the 30-year YIELD ($TYX.X) gives the trader the 
perspective of YIELD and different zones.  It's obvious now that 
back in March and April, the "zone of distribution" or selling of 
the 30-year YIELD took place between the 80.9% retracement and 
100% retracement levels.  That range as defined by the actual 
YIELD of the 30-year bond could be characterized from 5.217% to 
5.347% (note how close 5.347% is to previous analysis of 5.35%).  

Now what?  Let's lay out a scenario for the Fed to be at the end 
of its rate cutting cycle.  What should bond YIELDS do if that is 
the case?  They should head higher as "risk" of owning a 5.35% 
YIELD is not very good compared to further reward for price 
appreciation and the 5.35% YIELD.  It would also be an assumption 
that the Fed would only be at the end of its easing cycle if 
there were signs of economic recovery.

In order to build trading scenarios, one must make assumptions.  
A trader should not only make assumptions for the end of Fed 
easing and economic growth, but should also make assumptions for 
continued Fed easing and economic slowing.  How we monitor these 
assumptions and attach levels to them so that we can follow the 
progress and fine tune the scenario is where the above bond YIELD 
chart comes in.

Again... my assumption is that bond YIELD is very important to be 
monitoring as it gives us the potential heads up for where money 
is flowing (in or out of bond market).

Now, how the heck is this going to help us?  I'd argue it already 
has for the most part.  The YIELD on the 30-year has been 
violating retracement level after retracement level since it 
broke the 5.77% YIELD (19.1% retracement level on above chart) 
and that action has had traders getting less bullish on stocks 
with every level broken.  If not, it surely should have.  Using 
past technicals, we're not approaching what could be a 
distribution zone for the 30-year YIELD.  If the Fed truly is 
near the end of its recent easing cycle, then we should expect to 
see the 30-year bond YIELD start to head higher soon.  With that, 
we should also be monitoring some other indicators and indexes 
that might give hint of a turnaround.  

S&P 100 Index (OEX.X) - last nine months



Notice how nice the 80.9% retracement level on the above chart of 
the OEX.X correlates with what we're seeing in YIELD on the 30-
year bond.  I've also added some commentary in the chart and 
highlighted levels that correlate back to bullish percent data 
and levels of significance there.  This type of analysis will set 
you and your trading apart from other market technicians.  Using 
retracement to understand levels and using bullish percent data 
to understand the market internals for the sectors or indexes 
that you're trading within.  

I think a breaking of the 5.35% YIELD level on the 30-year bond 
is going to be an alert that the OEX.X and some other indexes 
will also head lower.  Traders that slap a retracement bracket on 
the S&P 500 like we did on the S&P 100 (OEX.X) will see very 
similar results as should be expected.

A trader that currently holds some bearish positions now knows 
how important the 30-year YIELD is to his/her potentially finding 
further gains in their bearish positions, while at the same time 
understands how a rally in bond YIELD (selling in bonds) could 
affect a move higher in the OEX.X and SPX.  Currently, I think 
there is a good chance that we see the 30-year YIELD dip back 
below the 5.35% level, but it truly is a day-by-day observation 
that we need to continue to monitor.

S&P 100 Bullish Percent ($BPOEX) - 2% scale



Thursday's action in the S&P 100 had the bullish percent for this 
index back in "bear alert" status.  The last time this index 
achieved the "bear alert" status was back in late February of 
this year.  I will note that yesterday's "bear alert" reading 
came at a LOWER level of bullishness that that found in February, 
thus I don't think further index action will have the downward 
punch that we saw in March and April.  On the bar chart for the 
OEX.X, I placed two thick pink horizontal trends that "identify" 
pivot points for the OEX.X. 

Isn't it interesting how the bullish percent reading for May (red 
5 on bullish percent chart) came at the 70% level (overbought), 
just as the bar chart of the OEX.X achieved our thick pink pivot 
level?  Isn't it also interesting how the YIELD on the 30-year 
fell below 19.1% retracement about the same time the OEX.X fell 
below its 19.1% retracement?  I think so.  As they have gone down 
together, I feel they also have a good chance of going up back up 
together and gives the trader/investor two very different types 
of securities to monitor against each other.  With retracement 
brackets overlaid, traders can gauge levels and assess 
risk/reward much better.


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

Good Riddance by Jeffrey Canavan

August has historically been a bad month for Dow and S&P 500, and 
this year was no different.   The Dow closed 5.45% lower than it 
started the month, and the S&P 500 fell 6.41%.  The Nasdaq lost 
10.94%.  At least we finished the month on a slightly positive 
note.

Stocks were able to stop a four-day slide thanks to a Chicago 
Purchasing Managers Index that came in better than expected.  
38.0 was the consensus estimate, but the number came in at a 
surprising 43.5.  A reading below 50 means that manufacturing is 
contracting, but at least August was an improvement. Factory 
orders rose 0.1%, which helped to minimize the damage of a worse 
than expected University of Michigan Consumer Sentiment.

Dow and Nasdaq-100 Daily Charts



At one point on Friday the Dow had managed to climb back above 
10,000, but once the economic report euphoria wore off, there 
just wasn't enough buyers around to keep it there.  9,970 and 
10,000 remain points of resistance for the Dow.

The Nasdaq-100 Tracking Stock gained 1.27%, and actually managed 
to climb back above last week's low.  IF the Nasdaq-100 can 
continue to rally, perhaps at test of 40 could happen next week.  
Holding above $36.50 wouldn't be bad either.

So now we have August out of the way.  No more talk of summer 
doldrums, vacations, and light volume.  It's time to get back to 
business.  What might September hold?

Wall Street will start September with $6 billion less to work 
with as equity mutual funds had yet another week of net 
withdrawals.  Most of those withdrawals stemmed from investor 
fears about the economic and corporate outlook.  With warning 
season shifting into high gear, Investors will have plenty to 
worry about.  Barring a string of positive surprised, rallies 
still look to be better suited for shorting.

Speaking of rallies, September usually opens up strong as traders 
come back rested from a long weekend.  That's the highlight of 
the month, since statistically September is the worst month for 
the Dow and S&P 500.

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

Market Volatility

VIX   28.05
VXN   52.86

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

          Put/Call Ratio  Call Volume   Put Volume
Total           .82                 

*Data not available

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

Bullish Percent Data

           Current   Change   Status
NYSE          34       -      Bear Confirmed
NASDAQ-100    24       -      Bear Confirmed
DOW           30      -6      Bear Confirmed
S&P 500       46      -2      Bull Correction
S&P 100       36      -2      Bear Confirmed

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

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


 5-Day Arms Index  1.52
10-Day Arms Index  1.28
21-Day Arms Index  1.45
55-Day Arms Index  1.27

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      1691           1368
NASDAQ    1982           1561

        New Highs      New Lows
NYSE      105             53
NASDAQ     35             96

        Volume (in millions)
NYSE       918
NASDAQ   1,228
-----------------------------------------------------------------

Advisory Sentiment 

Bullish  Bearish  Correction  Net   Change 
  46.9%    30.2%    22.9%    16.7%   -3.2%

A bearish reading of 25% to 30%, combined with a bullish reading 
greater than 55% is typically considered bearish by contrairians.  
A net percentage greater than 30% is also viewed as bearish. 

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

Commitments Of Traders Report: 08/28/01
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. COT data 
can be found at www.cftc.gov.

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 increased their net bearish by 6.9%.  This 
isn't a drastic move, but (79,126) is the most bearish commercial 
traders have been since 3/13/01.

Commercials   Long      Short      Net     % Of OI 
8/14/01      337,327   411,504   (74,177)   ( 9.91%)
8/21/01      342,332   416,372   (74,040)   ( 9.76%)
8/28/01      342,742   421,868   (79,126)   (10.35%)

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
8/14/01      130,432     55,750   74,682     40.11%
8/21/01      134,280     58,785   75,495     39.10%
8/28/01      141,046     58,001   83,045     41.72%

Most bearish reading of the year:  36,513 - 5/01/01
Most bullish reading of the year:  91,122 - 3/06/01
 
NASDAQ-100

Commercial traders didn't add any long positions, but did dump a 
few short positions, so the net bearish position improved 
slightly.

Commercials   Long      Short      Net     % of OI 
8/14/01       29,909     37,822   ( 7,913)  (11.68%)
8/21/01       30,348     38,964   ( 8,616)  (12.43%)
8/28/01       29,255     36,551   ( 7,296)  (11.09%)

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
8/14/01       11,165     9,508    1,657       8.02%
8/21/01       10,499     7,576    2,923      16.17%
8/28/01       11,131     9,694    1,437       6.90%

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

Last week commercials came close to the most bullish reading of 
the year, but have pulled back this week.  

Commercials   Long      Short      Net     % of OI
8/14/01       21,652    15,856    5,796     15.5%
8/21/01       22,710    14,625    8,085     21.7%
8/28/01       22,141    14,959    7,182     19.4%

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
8/14/01        4,441     8,528    (4,087)   (31.51%)
8/21/01        5,059    10,410    (5,351)   (34.59%)
8/28/01        5,240     9,835    (4,595)   (30.48%)

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

COT Commercial Net Position Charts




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


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

Lennar Corp - LEN Close:$44.55 Change:+1.20 Stop:$41.25

Original Comments When Selected on August 16th:

Company Description:
Lennar is one of the nation's largest homebuilders after 
industry leader Pulte Homes.   The company builds homes in the 
$100,000 to $1 million range for all types of homebuyers from 
first-timers, move-ups and retirees.  Its US Homes acquisition 
expanded operations to a total of 13 states.  The company 
buildes homes under name brands such as; Lennar, US Homes, 
Greystone Homes, Village Builders and Renaissance Homes.  The 
firm also offers title and mortgage services. 

Fundamentals: 
Analysts expect US Homes to earn $5.28 per share on sales of 
$5.6 billion in the current fiscal year ending in November, 
$5.75 on $6.2 billion in 2002.  Last year, they earned $3.64 on 
sales of $4.7 billion.  Even though Lennar estimated earnings 
growth over the next five-years at 15-percent is expected to 
outpace the industry average of 13.61 - the shares are 
undervalued with a forward P/E of 8 when compared to the 
industry average P/E of 11.

Why We Like It: 
Shares of homebuilders have been dropping on the assumption 
that last Thursday's report on new residential construction 
would be a dog.  Instead, a reasonably positive report suggests 
that Americans are not letting the economic blues deter them 
from moving into their dream home.  This knocked the bears off 
their game and turned homebuilders shares over to the bulls.   
Lennar is attractive to us for three reasons; first, it is well 
undervalued as compared to its peers. Second, despite recent 
weakness the shares are still in a long-term up trend and 
lastly, the shares are just above support from the lower trend 
line and the 200-day moving average at $38.80.  This sets up a 
play with an attractive risk/reward ratio.  To the downside our 
$38 stop is just below significant support leaves us with 
minimal downside exposure.  Yet if the bulls really get running 
the upside is solid with resistance at $45 and $50.  Given the 
trend less nature of the markets we will look to tighten up our 
stops once we can pocket a 10-percent gain. 

Updated Comments:
Score another one for the bulls.  This homebuilder is making a 
run for it after bouncing along its 200-dma in the middle of 
the month. Currently, this PremierInvestor.net play is up over 
9.5%.  Now comes the tricky part.  Yesterday we felt that a close 
over the $44 level might be a good play to go long if you were not 
already. Now the trick is determining where the true resistance is.  
Where are the sellers waiting to pounce?  $45 would be an easy mark 
since investors tend to congregate to the big round numbers (like 
$5 intervals).  However, we listed a close over $44 as a potential 
entry since $44 had been a level of support in late July and early 
August.  Support broken normally becomes resistance.  Friday's 
close put it over this level of resistance.  It would be easy to 
think that the stock might be overbought in the short-term but 
with such relative strength in a down market the stock appears to 
be attracting buyers.  The MACD remains strong and there has been 
no let up to hint that strength is weakening.  The next level of 
resistance is between $46 and $47.  If you're willing to go long 
here, above $44, then we would suggest a tighter stop than the 
one we have listed.  We would still consider a bounce above $42.50 
to be a decent entry point as well.

Picked on August 16th @ $ 40.66
Gain since picked:       + 3.89
Earnings Date:          09/19/01 (not confirmed)





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

NVIDIA Corp. - NVDA - close: 84.71 change: +0.70

WHAT TO WATCH:  Returning to hover near the $85 area, shares of 
NVDA are making a rebound from their Thursday lows.  Readers should
recognize NVDA as a recent long play for the stock split section.
The stock has a 2:1 split approaching on Sept. 11th.  The company
has great fundamentals in a growing industry.  Traders should be
able to capture the move back up to $90 which is current resistance.
If you're patient you might be able to pick an entry if the stock
dips to $80 or $81 again.  We would not hold this play over the
split on the 11th.




---

DELL Computer Corp. - DELL - close: 21.38 change: +0.25

WHAT TO WATCH:  While not a real big mover in our book traders 
can still watch shares of DELL for clear breakout or breakdown
signals.  The hardware group has been in the news lately so
this might help heighten any moves in the stock.  We would watch
for two events.  If the stock can close back above current 
resistance at $22 then traders might be able to capture any bullish
move back to $24 and potentially $26 which is significant resistance.
On the downside, if shares close under $20 which is big support for
DELL you could see the stock trade down to $18 and potentially even
$17.  This is not a bad return for what would probably be a short
investment.




---

VERITAS Software - VRTS - close: 28.72 change: +0.35

WHAT TO WATCH:  I know we picked on the software sector on Wednesday
but this one is worth watching.  Shares of VRTS collapsed when the
GSO index (software index) fell through major support on Thursday
at 160.  In like fashion, VRTS gapped down below $30 and remained
there.  We were not the only ones picking on the software sector as
Goldman Sachs cut their outlook on the group on Thursday (they must
be readers of our letter).  The VRTS breakdown below $30 was a very 
bearish move and shares remain there going into the weekend.  If
you're going to trade VRTS you need to watch the GSO.  The GSO is
currently at or near its April lows of 155.  A breakdown from here
would be very bad and the down trend shows no signs of stopping.
But beware!  A new move up in the group would likely cause a violent
round of short covering.  Consider a short play in VRTS with a tight
stop above $30 or if you're bullish wait for a close back over $30
and consider a long with a tight stop under $30.




---

Vodaphone Group - VOD - close: 20.15 change: +0.60

WHAT TO WATCH:  Shares of VOD look very tempting for a long play.
Has this extremely beaten stock finally found a bottom?  The stock
has been in a serious downtrend (just look at the 200-dma) for some
time now.  It's been a bumpy ride but maybe just maybe VOD put in
a bottom when it touched $18 on August 17th.  Since then shares 
have slowly been climbing which is contrary to what the market has
been doing.  Sounds like relative strength to us.  Even more 
interesting is the fact that the stock closed up after Morgan 
Stanley downgraded the stock Friday morning.  We would consider
this as a long play with our stop at just under $19 (a little over
5%).  Our target would be $22 or $22.50 or +10-12%.  If you need
further encouragement wait for the stock to close above its 50-dma
currently at 20.51.  Remember this is really an overseas stock and
it very prone to gaps up and down on the open.  Whatever happens 
in Britain on the FTSE will influence the VOD stock price.




---

Immunex Corp. - IMNX - close: 17.38 change: +0.59

WHAT TO WATCH:  Whether you consider IMNX more a biotech stock or
more of a drug stock is up for discussion.  Whatever you decide
we wanted to highlight the stock again as it approaches strong
resistance at the $18 level.  It may not have had much affect but
Thursday morning, SG Cowen initiated coverage of IMNX with a
strong buy.  The stock didn't do much on Thursday but it did 
enjoy a nice bounce Friday.  We've highlighted IMNX on the watch
list before as it approached the $18 mark and we believe that if
the stock can breakthrough this level we could see a strong rally
fueled by new buyers in addition to strong short covering.  So
far the shares have not been able to successfully penetrate this
level for months with the last successful attempt back in May
quickly rebuked by the bears.  If you're feeling less optimistic
consider a short if the stock fails at $18 again.  It's possible
to ride IMNX back down to $16 and potentially $14 which has been
the bottom of this multi-month trading range.





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DISCLAIMER
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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.

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Copyright  2001  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.

PremierInvestor.net Newsletter          Weekend Edition 08-31-2001
                                                    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
=================================================================
To view this email newsletter in HTML format with imbedded
charts and graphs, click here:
http://www.PremierInvestor.net/htmlemail/3178_2.asp
=================================================================

In section two:

Split Trader
  New Plays: none
  Play Updates: AHC, LEN, THQI, STJ,  
  Closed Plays: OM Group, Inc. - OMG

Net Bulls
  New Plays: Atrix Laboratories - ATRX (Bullish) 
             PeopleSoft, Inc. - PSFT (Bearish)
  Long-Term Play:  August Updates
  Bullish Play Updates: No active bullish tech plays
  Bearish Play Updates: MEDI, MMM, QCOM 
  Closed Bullish Plays: none
  Closed Bearish Plays: none

Stock Bottom / Active Trader
  New Plays: none
  Long-Term Play: Campbell Soup - CPB
  Bullish Play Updates: MO, NEM, PEP
  Bearish Play Updates:.FITB, PCAR, TCB
  Closed Bullish Plays: none
  Closed Bearish Play: none


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

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

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

Amerada Hess - AHC - close: 77.71 change:  0.00 stop: 75.80 

Traders are still marking time with AHC.  The stock made a run 
for it early in the day but couldn't hold on to any gains.  If 
we only looked at the last three sessions we can see three lower 
highs.  This is potentially negative but on such a short-term 
scale we would not worry if you're still waiting for an entry 
point as instructed in the Thursday update.  If you were too 
eager an jumped in at the low today (76.80) you're probably 
okay as long as you employ a very tight stop.  The best bet is 
to wait for the close over $79.  

Picked on August 15th @ $ 78.90
Gain since picked:      -  1.19
Earnings Date:             N/A  (not confirmed)




---

Lennar - LEN - close: 44.55 change: +1.20 stop: 41.25 

Score another one for the bulls.  This homebuilder is making a 
run for it after bouncing along its 200-dma in the middle of 
the month. Currently, this PremierInvestor.net play is up over 
9.5%.  Now comes the tricky part.  Yesterday we felt that a close 
over the $44 level might be a good play to go long if you were not 
already. Now the trick is determining where the true resistance is.  
Where are the sellers waiting to pounce?  $45 would be an easy mark 
since investors tend to congregate to the big round numbers (like 
$5 intervals).  However, we listed a close over $44 as a potential 
entry since $44 had been a level of support in late July and early 
August.  Support broken normally becomes resistance.  Friday's 
close put it over this level of resistance.  It would be easy to 
think that the stock might be overbought in the short-term but 
with such relative strength in a down market the stock appears to 
be attracting buyers.  The MACD remains strong and there has been 
no let up to hint that strength is weakening.  The next level of 
resistance is between $46 and $47.  If you're willing to go long 
here, above $44, then we would suggest a tighter stop than the 
one we have listed.  We would still consider a bounce above $42.50 
to be a decent entry point as well.

Picked on August 16th @ $ 40.66
Gain since picked:       + 3.89
Earnings Date:          09/19/01 (not confirmed)




---

THQ Inc - THQI - close: 53.15 change: +1.20 stop: 49.75 *new*

Friday's move is the kind you should expect from a stock with 
decent relative strength in a broad market relief rally.  Bulls 
should be encouraged.  Shares managed a close over its 50-dma 
but not very convincingly.  We still believe that the best way 
to play this one is to wait for the positive close over $55 or 
a bounce at $50.  More aggressive players are probably already 
in the stock so they are not listening anyway.  Be patient and 
pick your entry points.  This sector is still getting positive 
press.  Remember that our eventual target is the $60 mark (and 
hopefully beyond).  We're going to move our stop up to $49.75.

Picked on August 24th @ $ 51.45
Gain since picked:       + 1.70
Earnings Date:              N/A  (not confirmed)




---

St. Jude - STJ - close: 68.80 change: -0.10 stop: 67.88 *new*

We're sorry.  Did we say healthcare stocks were garnering investor
interest yesterday?  We meant to say that healthcare stocks are
supposed to be gathering interest as more defensive plays in a 
down market.  Unfortunately, this line of reason doesn't really
appear to be working on the healthcare sector.  St. Jude may be
holding up but the S&P Healthcare index (HCX) just posted its
5th down day in a row.  The HCX is below the psychological 800
level but remains above the July 24th low of 791.  The bad news
is that the real July lows are closer to 770.  STJ is still 
maintaining its posture but the stock failed to participate in
the Friday market rebound.  We reiterate our strategy to only
go long on a close above $70.  We're going to tighten our stop
to 67.88 which is under the $68 support level that has been 
holding up all week.

Picked on August 30th @ $ 69.85
Gain since picked:       - 1.05
Earnings Date:              N/A  (not confirmed)




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

OM Group, Inc. - OMG - close: 65.11 change: +1.51 stop: 63.00

How frustrating!  OMG really wasn't looking THAT bad.  The
Thursday drop concerned us and our stop at $63 was there to
protect us from another gruesome day in the markets.  
Unfortunately this morning, the stock traded down below our
stop to 62.70 before reversing course to make an impressive
comeback.  Shares are back inside its ascending channel and
if the bulls can keep it going we could see the stock at $68 
soon.  If you're still in the play watch the next couple of
days carefully.  Look for confirmation of the bullish trend.

Picked on August 21st @ $ 64.50
Gain since picked:       - 1.50
Earnings Date:              N/A  (not confirmed)





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

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

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

Atrix Laboratories - ATRX Close: 26.97 Change: +1.25 Stop: $24.25

Company Description:
The Fort Collins, Colorado-based Atrix is a specialty 
pharmaceutical company developing advanced drug delivery methods.  
It has a number of products in a rich pipeline and deep-pocketed 
partners including GlaxoSmithKline, Pharmacia and Sanofi-
Synthelobo.  The company also has an agreement with Pfizer to test 
its delivery systems with the drug monster's extensive product 
line.  It is already nearing final approval from the U.S. Food and 
Drug Administration for a version of the prostrate cancer fighting 
Leuprogel that lasts in the body for one month They plan to apply 
for approval of the three-month version by the end of this year and 
of a four-month version early next year. The liquid Leuprogel 
products are injected under the skin with a small gauge needle, 
forming a solid implant in the body that slowly releases leuprolide 
as the implant is bioabsorbed.  The company expects its Leuprogel 
sales alone to rival its current $371 market capitalization.  
Atrix's CEO has said,  "`We think this is a billion-dollar market 
and we think we could get as much as 30 percent of it if everything 
works positively for us."  

Fundamentals:
Analysts forecast the company to lose $1.30 per share on revenue of 
$23 million in 2001 and for those losses to narrow to 55-cents on 
$35 million in 2002.  The company is planning a 3 million share 
secondary offering to broaden their technologies and further 
product development efforts..

Why We Like It:
Although Atrix is a small company, there is a great probability it 
will become a much larger one within a year.  The company's Antigel 
drug delivery system is proving to be a big improvement over 
existing comparable technologies.  It is being tested on a number 
of blockbuster drugs, any one of which could propel this company to 
the upper ranks of drug companies.  It is also attractive to 
companies looking for a ways to extend the patent life of existing 
products.  Its Leuprogel application should prove to be the first 
of many successful wins. 

Since we selected Atrix as one of top plays for August the shares 
have risen 11.6-percent - not bad for a month that saw the Nasdaq 
Composite give up an identical 11.6-percent.  Since hitting $10.53 
on April 3rd, ATRX shares have been strengthening as the firm comes 
closer to final FDA approval for Leuprogel.  On Friday, the shares 
continued their climb up when they produced an upside breakout of a 
bullish ascending triangle pattern.  A picture perfect breakout 
would have been a close at $27, but 3-cents shy is not bad.  The 
shares seem ready for the next leg up that in the short-term should 
result in a run at a new 52-week high at about $30.  Given the 
company's long-term prospects and short-term momentum, we see these 
shares as a buy on any dip.  We will start this play with a $24.25 
stop, which is just below the $24.50 200-day moving average. In the 
shortest-term, a move to $30 would represent an 11-percent gain, 
while we are risking 9-precent to the south side.  Normally we 
would like to see a 3:1 ratio for an active trader play, so this 
play may be best for day traders or longer-term investors.  

Picked on August 31st at $26.97
Earnings Date:             N/A (Not Confirmed)
     




  ----------------
  New Bearish Play
  ----------------

PeopleSoft, Inc. - PSFT Close:$34.48 Change:+2.53 Stop:$38.00

Company Description:
PeopleSoft is the third largest developers of enterprise resource 
planning (ERP) software after SAP and Oracle.  ERP software helps 
clients manage human resources, financial, manufacturing, 
purchasing, sales and inventory planning.  The Pleasanton, 
California-based company's vertical applications target the health 
care, financial services, public-sector, and communications 
industries.  PeopleSoft generates 65-percent of sales from related 
software maintenance, training, and consulting services. 

After six consecutive years of doubled sales, the company saw 
demand for its flagship ERP products diminish due to increased 
competition and a saturated market; it slipped into the red in 1999 
for the first time in the decade.  In response, the company 
launched an aggressive array of new products and services, 
particularly in the customer relationship management (CRM) 
industry. The company is counting on its Internet-based PeopleSoft 
8 CRM offering to make further inroads into competitor Siebel 
Systems' dominant market share. 

Fundamentals: 
Analysts forecast the company will earn 60-cents on sales of $2.1 
billion in the current fiscal year and 83-cents on $2.4 billion in 
2002.  Last year, the company earned 31-cents on sales of $1.74 
billion.  This gives the company a 2001 earnings growth rate of 93-
percent (industry average is 2.5-percent), a current P/E of 111 and 
a forward 2001 one of 59 (industry average is 38) and a PEG of 2.38 
(industry average is 1.93). For the fourth quarter, the company has 
said it was comfortable with analysts' current estimates of 19 
cents per share.

Why We Like It: 
PeopleSoft's emphasis on web-based applications have scored big 
with customers and enabled it to rebound after a tough 1999.  
However, the shares are richly valued making them vulnerable to 
dips during market pullbacks.  Although the company is predicting a 
solid year with license-revenue growth "slightly ahead" of the top 
of the 30-percent to 35-percent annual growth the company had 
projected, and that full year EPS would be at the "high end" of the 
company's 55 to 60-cent range, investors are still concerned.  They 
question whether the firm can maintain this robust growth when even 
the company admits the selling environment has become more 
difficult.  

We have been in and out of this play in the past and we see it as 
time to jump back in.  Software remains one of the weakest market 
sectors and despite the momentary pre-holiday respite from selling 
pressures, we believe Kodi the Bear is still at the helm.  And lest 
we forget, we are entering earnings warning season.  Although it is 
possible Friday's bullish action may carry over into Tuesday's 

trading session, we believe traders that like to work the short 
side should take advantage of this opportunity to establish their 
positions.  This is where PeopleSoft shares fit in.       

After bouncing off a session low of $29.80 on July 20th, they put 
together an impressive run to a session high of $44.78 on August 
1st.  Unfortunately for longs, this high represented the second 
failed attempt to top $45.  The shares then dropped steadily until 
they closed at $31.95 last Thursday.  Although Friday's $2.53 gain 
was on solid volume, further gains will need to maintain its close 
above the 50-percent retracement ($34.32) off its June high 
($51.01), push through resistance at $37.00 and the $37.56 200-day 
moving average.  Given the sad state of the markets we don't 
believe PSFT shares can pull this off.  A failure here would set up 
a test of the support at $30 and a possible run to the March low of 
$17.50.  

As an entry, traders should wait for either a move to between $36 
and $37, or at the first sign of weakness if the bulls fail to 
show.  Place your stop according to your entry point and tolerance 
for risk.  We are going to start with a loose stop just above the 
200-dma at $38.00.

Picked on August 31st at $34.48
Earnings Date             10/13 (Not Confirmed)





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

With a new month before us, we decided to revisit the plays that 
made our long-term list in the month of August.  Given a painful 
11.6-percent drop in the Nasdaq Composite during the month, with one 
notable exception our long-term plays held up rather well


Screaming Media - SCRM Selected: $2.40 on August 24, 
August 31st close: $2.50, Change: none

UPDATE: With only a week under its belt since we selected it, this 
stock ended the week at the same price it started.  We take this as
 a bullish sign given the Nasdaq Composite gave up 128 points during 
the same period of time.  There was no new significant company news 
reported.  We see no change in our positive long-term outlook.

Friday, August 24th's write-up:

PLAY DESCRIPTION: Whereas many Internet stocks crashed and burned 
when it was discovered their business models were as speculative as 
their stock prices. ScreamingMedia management is quietly building a 
successful business with a rock solid business model. Although many 
web sites have gone under, overall Internet usage continues to grow.
 When successful web sites need content, it is cheaper and easier to 
buy it from ScreamingMedia then produce it themselves. They have 
signed customer and partnership agreements with some of the best 
corporate names. 

With prospects of profitability in 2002, a low cash burn rate and 
$88 million in the bank (this equates to $2.31 per share), by almost 
any measure this is one of the more undervalued firms around. Their 
entire market capitalization at $95.75 million is barely more than 
the company bank account. 
 
The dot-bomb has hurt the shares of many fundamentally sound 
companies and it appears ScreamingMedia at $2.50 a share is one of 
them. This writer believes so and has added these shares to his 
personal portfolio. 




---

Tyco International - TYC Selected: $52.66 on August 17, 
August 31st close: $51.95, Change: -0.71

UPDATE:  This is one more play that managed to hold its value better 
than the overall Market.  Whereas TYC shares have lost 71-cents, or 
1.3-percent over the last two weeks the Dow Jones Industrial have 
dropped 371 points, or 3.5-percent.  Score one for diversified value 
plays.  A point & figure analysis shows the stock is still within 
its longer-term bullish trend, but knocking on support at $51.00.  
If the shares reach $49.00, this would represent a reversal to the 
dark (bearish) side of a trend that first started back in April. 

Friday, August 17th's write-up:

PLAY DESCRIPTION : There aren't too many stocks in the current 
market that have been resilient enough to hold on through recent 
declines in the broad averages. Those that have been able to keep 
their valuations at a respectable level have done so as a result of 
competent management, diversified product mix, and the ability to 
cut costs. Tyco International is one such company. Often compared 
to corporate behemoth GE, Tyco is well diversified across multiple 
sectors and, at current valuations poses a compelling buy. With a 
P/E of only 17.55 compared to the industry average 27.37 and a net 
profit margin that is nearly double that of the industry average, 
Tyco could be one of the best long-term plays available right now.   




---

1-800-Flowers.com - FLWS  Selected: $12.98 on August 10th, 
August 31st close:$ 12.80, Change: -0.18

UPDATE:  Well the scorecard on this one reads FLWS down 18-cents 
(1.3-percent) - the Nasdaq down 158-points (8-percent).  The big 
news was the August 18th earnings report that saw the company with 
a profit of 10-cents per diluted share (versus a loss of 14-cents 
in the year ago quarter) on record revenue of $132 million.  This 
further solidifies our bullish long-term outlook for these shares.
  This long-term play should stay in good shape as long as it stays 
above $10.50.

Friday, August 10th's write-up:

PLAY DESCRIPTION : Flowers along with travel are turning into big 
Web hits. One of the reasons is that customers were already 
comfortable with phone orders and the web was an easy transition. 
Research firm Jupiter Media Metrix estimates that $600 million of 
flowers will be ordered over the web this year and this number 
will almost triple to $1.6 billion by 2006. With a solid business 
model, 1-800-flowers.com has established itself as the clear 
Internet leader. In recognition of the company's prospects and 
execution, investors have driven the shares up 471-percent from 
$2.27 on November 13th. We have a 12-month price target of $25.




---

Vitesse Semiconductor - VTSS  Selected: $31.88 on August 3rd, 
August 31st closed: $14.60, Change: -17.28

UPDATE: No tap-dancing here, this one was a complete bust.  The 
early August optimism fueled by positive brokerage comments about 
the semiconductor sector faded as the depths of the economic blues 
became more pronounced.  The big blows were a negative market 
reaction to the Cisco earnings report and a mid-month erroneous 
report of a Vitesse earnings warning.  Interestingly enough there 
was no negative news from the company, some longs may consider 
these shares the victim of a hit-and-run accident.  Regardless of 
how well undeserved these losses may be, this beating just 
reinforces the reason for always setting a stop loss on positions.

Friday, August 3rd's write-up:

PLAY DESCRIPTION : . Everyone knows that the economic downturn 
resulted in a depression for the semiconductor industry. Most of 
the smart money has been searching the tea leaves, looking for signs 
of a bottom in this industry and a horse to ride in the subsequent 
recovery. For many investors, the current earnings season has 
provided evidence of a bottom in the semis, but little evidence of 
a recovery. Still, prominent analysts from brokerages including 
Merrill Lynch and Wit SoundView are beginning to tell their clients 
that although uncertainty exists (this means risk), they believe a 
bottom is in or near and waiting for hard-evidence of a recovery 
could mean missing out on a stock's appreciation. 

Vitesse is one of the companies that many are looking at for a 
recovery run. The chipmaker has been diversifying itself with a 
number of new product offerings. Although sales are still suffering, 
the company has reported that in the last month to six weeks, order 
cancellations and delays have almost halted and the company does not 
expect them to resume. And whereas inventories for mature products 
will not be fully corrected until the December quarter, they believe 
September is the bottom as new products should create new growth by 
the December quarter. 

With this promising outlook and improvements in the current business 
environment; we believe these shares should be attractive to the 
long-term investor, who has tolerance for the inevitable dips that 
will occur until the recovery is firmly in place. We have an 
intermediate term price target of $30.50 and a 12-month target of 
$39.00. 





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

  -----------------------
  NB Bearish Play Updates
  -----------------------

MedImmune, Inc. - MEDI - close: 40.15 change: -1.16 stop: 42.75

The Dow and the NASDAQ may have given us a small bounce on Friday
but the Biotech sector slipped again.  After the big run up over
a week ago traders may start to take more money off the table.
This may be especially true if the NASDAQ starts falling again 
next week.  Shares of MEDI spent all day in the red and you could 
see the selling pressure slowly wear on the stock as the weekend 
approached.  We stand behind our comments on Thursday to consider 
a short play once MEDI closes under the $40 level.  If you're 
expecting a bounce in the sector and the stock then consider a 
failed rally at the 200-dma, currently at 42.25, as an entry point 
to go short.

Picked on August 28th @ $40.46
Gain since picked:      + 0.31
Earnings Date:           10/24 (not confirmed)




---

3M - MMM - close: 104.10 change: -0.10 stop: 111.00

Still no relief for shares of MMM.  On Wednesday we urged our
readers to look at a Point and Figure chart of MMM to see the
breakdown and if you haven't we would still encourage you to
do so.  Friday's action was pretty dull.  The stock is probably
still digesting its mid-week breakdown through support.  Looking
at a regular chart we could surmise that the next level down
is probably $100 but looking at the P-n-F chart it appears to
be closer to $98.  It will interesting to see which one is 
more accurate.  Our stop may be a little wide for some traders.
An alternative would be a stop above the level of support broken
on Wednesday.  Consider something near $108.25.  We're going
to leave our stop at $111.00 for the newsletter.

Picked on August 29th @ $106.75
Gain since picked:      +  2.65
Earnings Date:              N/A  




---

QUALCOMM - QCOM - close: 58.85 change: -0.74 stop: 65.00

The weakness in QCOM continues with it's second day below the
$60 level.  Actually, the bulls tried to get past the $60 mark
twice on Friday before the bears blocked their way.  Failing 
to participate in the market jump today, okay it was a small
market rebound but it was still positive, didn't inspire buyers
to pick up more shares of QCOM.  If the market continues to be
weak then QCOM could very well hit $50 again.  However, before
you start counting your money look for bears to hurdle the
next level of support at $55.  If our stop at $65 is too wide
for you then consider something closer to 61.50 or 62.  This
would be technically safe but shares of QCOM are notorious for
being volatile.  

Picked on August 30th @ $ 59.59
Gain since picked:      +  0.74
Earnings Date:              N/A  




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

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

  ------------------
 AT Long-Term Play
  ------------------

Editors Note: This is a reprint of a piece that originally 
appeared on Friday in our sister site OptionInvestor.com.  We 
felt it would be the perfect start for our newest section.  Our 
Net Bulls area already contained an section for long-term tech 
play and we saw the need for a similar section that focused on the 
shares of non-tech companies.  Our first selection is a seasonal 
play that takes advantage of the historical tendency of soup sales 
to rise during the winter months - Campbell Soup (CPB).    

Soup is Good Food by Jeffrey Canavan

During our daily banter in the office, Mr. Bailey pointed out the 
Campbell Soup (CPB) has a tendency to rally at the start of 
September.  I decided to drop the data into Microsoft Access, and 
see if the theory holds true.  Here's what I found.

Total Point Gain by Month for Campbell Soup (1992-2001)

January   ($22.98)
February  ($ 2.08)
March      $ 3.65
April     ($ 5.29)
May        $ 5.66
June       $ 2.21
July      ($ 0.58)
August    ($ 9.94)
September  $ 7.31
October    $21.31
November   $16.50
December  ($ 1.88)

           Average Point Gain   Average Percentage Gain
January        ($2.30)                  (5.70%)
February       ($0.21)                  (0.21%)
March           $0.36                    1.31%
April          ($0.53)                  (1.79%)
May             $0.57                    2.04%
June            $0.22                    0.06%
July           ($0.06)                  (0.24%)
August         ($1.10)                  (1.80%) 
September       $0.81                    3.81%
October         $2.37                    7.26%
November        $1.83                    5.48%
December       ($0.19)                   0.39%

Campbell Soup Seasonality Charts



Campbell Soup has finished the month of September higher 6 out of 
the last 9 years, finished October higher 8 out of 9 times, and 
posted gains in November 5 of the past 9 years.  

During those nine years Campbell has gained a total of $45.12 
from September thru November, while losing a total of $31 the 
other nine months.  The average monthly gain for the three-month 
period is $5.01, or 16.55%.  

Nine years of data isn't statistically sound, but it's 
interesting nevertheless.  Since August is coming to an end, lets 
see what Campbell is cooking up.

Campbell Soup Daily Chart

CPB has gained $2 in August, climbing above the 50-day moving 
average and breaking a seven-month downtrend in the process.  The 
stock has since consolidated around $28.  Resistance at $28.75 
has to be dealt with and past performance is not a guarantee of 
future results, but could a seasonal up trend be brewing?  





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

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

Phillip Morris MO Close:$47.40 Gain:-0.54 Stop:$45.00

Defensive stocks like tobacco tend to do well in troubled markets, but 
Phillip Morris wasn't smoking today.  Support still resides close by, 
and this stock should be one of the few that can perform under tough 
conditions.  

Picked on August 30th at $47.94
Gain since picked:        -0.54
Earnings Date            10/17/01 (unconfirmed)




---

Newmont Mining NEM Close:$20.74 Gain:-0.12 Stop:$20.40

The dollar strengthened and investors saw no need to for a safe haven 
in gold, so Newmont pulled back today on light volume.  The encouraging 
news is that the stock refuses to dip below $20.50.   

Picked on July 14th at $20.50
Gain since picked:      +0.24
Earnings Date            11/1/01 (unconfirmed)




---

Pepsi PEP Close:$47.00 Gain:-0.25 Stop:$46.50

Rival soft drink maker Coca-Cola is reported to be looking into 
acquiring Nantucket Nectars to combat the recent acquisitions by Pepsi.  
That may have had little to do with Pepsi's 25 cents drop today, but 
the stock once again came dangerously close to our stop. 

Picked on August 10th at $45.66
Gain since picked:        +1.34
Earnings Date               N/A




  -----------------
  Bearish Play Updates
  -----------------

Fifth Third Bancorp FITB Close:$58.30 Gain:+0.19 Stop:$62.00

FITB tried to go higher, but closed near its low of the day.  Not 
much can deduced from today's action, except that FITB has fallen 
into a three-day trading range.  

Picked on August 28th at $59.30
Gain since picked:        +1.00
Earnings Date              N/A




---

PACCAR PCAR Close:$55.30 Gain:+1.60 Stop:$56.00

Not many stocks gained more than $1 today, but unfortunately 
PACCAR was one of them.  Even so, today's $1.60 gain wasn't 
enough to push PCAR above it's high from last week.

Picked on August 17th at $55.46
Gain since picked:        +0.16
Earnings Date              N/A




---

TCF Financial TCB Close:$45.39 Gain:+0.12 Stop:$47.25

When we add it all up, TCB is no worse for wear.  The stock tried 
to rally today, but failed to clear resistance at $45.81.  
Today's 1-cent gain epitomized Friday's trading.

Picked on August 24th at $47.60
Gain since picked:        +2.21
Earnings Date              N/A





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PremierInvestor.net Newsletter         Weekend Edition 09-07-2001
                                                   Section 3 of 3
Copyright ) 2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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In section three:

Expected/Likely Split Announcements For The Coming Week
New Split Candidates: ASW, ROST
Market Watch for Week of September 10th
   - Major Earnings
   - Stock Splits
   - Economic Reports

Trading Ideas
  Value Plays With Bullish Signals
  Breakout to Upside (Stocks $5 to $20)
  Breakout to Upside (Stocks over $20)
  Breakout to Downside (Stocks over $20)
  Recently Overbought With Bearish Signals (Stocks over $20

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

=================================================
Expected/Likely Announcements For The Coming Week
=================================================

                                    Date Expected 
Symbol         Company              To Announce
=================================================
PDCO           Patterson Dental Co        9/10
=================================================

EXPLAINATION:

PDCO - Patterson Dental Company  

Patterson is in the medical supply industry, providing dental 
and medical products to healthcare professionals. The Company 
has performed well since trading publicly in 1992, increasing
in share price by almost 47 percent in the last year. The split
history includes a 2:1 split in July 2000, and 3:2 splits in 
February 1998 and June 1994.  Price ranges ran between $30 and 
$50 for the prior announcements, which lands current levels in 
the ballpark. On September 10 there is a shareholder meeting 
planned at which time shareholders will vote to increase the 
number of outstanding common stock from 130 million to 630 
million. This would give the Company plenty of room to execute 
its fourth stock split as there are currently 68 million shares 
outstanding. 

chart = 


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

New Split Candidates


ASW (formerly ACLNF) - A.C.L.N. Ltd.

Logistics provider and wholesale automobile dealer A.C.L.N. is 
once again at historical split levels. We are anticipating 
another 5:4 split with the next major company event or board 
meeting, keeping in line with the last two split announcements of 
last year; both splits brought prices down to the $20-$30 range. 
Shares have appreciated by over 50 percent this year and continue 
to make new highs on increasing volume. Illustrating further 
strength, ASW reported record second quarter earnings last month, 
boasting a 63 percent increase in EPS and 98 percent increase in 
revenue when compared to Q2 of 2000.

chart = 

===

ROST - Ross Stores, Inc.

Ross may be off of previous announcement levels but at the 
present rate, prices could reach $40 before you can say, 
"bargain-hunting fuels discount retailers". The current lack of 
consumer confidence has boosted stores like Ross while the more 
pricey competitors scramble for profits. At any rate, we'll keep 
our eye on ROST as shares continue to hit new highs during an 
already strong year. With 170 million shares currently 
authorized and 80 million outstanding, one can expect a 
shareholder meeting to increase the authorized shares if a 2:1 
split is to be executed.

chart = 


===================================================
Market Watch for the week of Sept. 10th – Sept. 14th
===================================================

  ------------------------
  Major Earnings This Week
  ------------------------

Major Earnings This Week

Symbol  Company              Date         Comment         EPS Est

CGA     Corus Group plc      Mon, Sep 10  ----- n/a -----     N/A
IDR     Intrawest            Mon, Sep 10    4:00 pm ET       0.13

NMGa    Neiman Marcus Grp    Tue, Sep 11  Before the Bell     N/A
STEI    Stewart Enterprises  Tue, Sep 11  Before the Bell    0.10
HNZ     Heinz                Tue, Sep 11  ----- n/a -----    0.61

BRC     Brady                Wed, Sep 12  Before the Bell    0.12
GIS     General Mills        Wed, Sep 12  Before the Bell    0.59
WCS     Wallace Computer     Wed, Sep 12  After the Close    0.28
ABM     ABM Industries       Wed, Sep 12  After the Close    0.56
AXA     AXA                  Wed, Sep 12  ----- n/a -----     N/A
BNG     Benetton Group       Wed, Sep 12  ----- n/a -----     N/A
CLL     Celltech             Wed, Sep 12  ----- n/a -----     N/A
WATFZ   Waterford Wedgewood  Wed, Sep 12  ----- n/a -----     N/A

CBRL    CBRL Group           Thu, Sep 13  Before the Bell    0.48
TEK     Tektronix            Thu, Sep 13  After the Close    0.11
ORCL    Oracle               Thu, Sep 13  After the Close    0.08
ADBE    Adobe Systems        Thu, Sep 13  After the Close    0.28
EN      Enel                 Thu, Sep 13  ----- n/a -----     N/A
PT      Portugal Telecom     Thu, Sep 13  ----- n/a -----     N/A


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

Symbol  Company Name          Splits  Payable    Executable

POOL    SCP Pool Corp         3:2     09/07       09/10       
ATK     Alliant Techsystems   3:2     09/07       09/10       
CNMD    CONMED Corp           3:2     09/07       09/10       
MNC     Monaco Coach          3:2     09/07       09/10       
CTWS    Connecticut Water     3:2     09/07       09/10       
NFG     National Fuel Gas     2:1     09/07       09/10       
NICK    Nicholas Financial    2:1     09/10       09/11
HRLY    Herley Industries     3:2     09/10       09/11
NVDA    NVidia Corp           2:1     09/11       09/12
SFD     Smithfield Foods      2:1     09/14       09/17
CHZ     Chittenden Corp       5:4     09/14       09/17


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

For the week of September 10, 2001

A bleak employment report capped off last week's attempt at 
yearly lows for the major indices.  Could upcoming events
finally offer relief to the market? You won't bet the farm 
if you look at what economists are expecting. 


Monday
======
Consumer Credit        Jul  Forecast:  $3.0B   Previous: -$1.5B


Tuesday
=======
Richmond Fed Manu Surv Aug  Forecast:   N/A    Previous:    -14


Wednesday
=========
Current Account        Q2   Forecast:-$106.0B  Previous:-$109.6B
Oil/Gas Inventories  9/07   Forecast:    N/A   Previous: 302.5MB


Thursday
========
Initial Claims      9/08    Forecast:    N/A   Previous:    402K
Export Prices ex-ag  Aug    Forecast:    N/A   Previous:   -0.5%
Import Prices ex-oil Aug    Forecast:    N/A   Previous:   -1.0%


Friday
======
PPI                  Aug   Forecast:    0.2%   Previous:   -0.9%
Core PPI             Aug   Forecast:    0.1%   Previous:    0.2%
Retail Sales         Aug   Forecast:    0.3%   Previous:    0.0%
Retail Sales ex-auto Aug   Forecast:    0.3%   Previous:    0.2%
Industrial Prod      Aug   Forecast:   -0.2%   Previous:   -0.1%
Capacity Util        Aug   Forecast:   76.8%   Previous:   77.0%
Mich Sentiment-Prel  Sep   Forecast:   92.9%   Previous:    91.5


==================
  Trading Ideas
==================

This section contains stocks that meet criteria which may make
them of interest to long and short side traders.  These are not
recommendations, nor have they been reviewed by PremierInvestor
editors for investment potential.  However, each of them has
technical and fundamental characteristics that make them worthy
of further review by traders and investors looking for fresh ideas.
New stocks will appear daily following the market close.

  ---------------------------------
  Value Plays With Bullish Signals
  ---------------------------------

Ticker    Company Name              Close  Change
CHV       Chevron                   92.36  +0.61
TX        Texaco Inc                70.68  +0.58
FPL       Fpl Group Inc             56.12  +0.72
FDP       Fresh Del Monte Produce   15.18  +0.81

  ---------------------------------------
   Breakout to Upside (Stocks $5 to $20)
  ---------------------------------------

Ticker    Company Name              Close  Change
MOGN      Mgi Pharma Inc            15.75  +1.48
LCBM      Lifecore Biomedical        9.04  +3.14

  ---------------------------------------
   Breakout to Upside (Stocks over $20)
  ---------------------------------------

Ticker    Company Name              Close  Change
IMCL      Imclone Systems           53.30  +2.57

  -----------------------------------------
   Breakout to Downside (Stocks over $20)
 -------------------------------------------

Ticker    Company Name              Close  Change
PFE       Pfizer Inc                36.96  -1.49
BAC       Bank of America           58.59  -1.19
TYC       Tyco International        46.58  -1.80
HD        Home Depot                41.00  -2.55
AOL       AOL Time Warner           32.22  -2.87

  ------------------------------------------------------------
   Recently Overbought With Bearish Signals (Stocks over $20)
  -------------------------------------------------------------

Ticker    Company Name              Close  Change
RTP       Rio Tinto Plc Adr         69.44  -3.20
ASD       American Standard Cos     66.28  -3.46
STJ       Saint Jude Medical        67.84  -1.55
LEN       Lennar Corp               39.94  -2.49
LAF       Lafarge North America     35.80  -0.86

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