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Daily Newsletter, Monday, 09/24/2001

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PremierInvestor.net Newsletter                 Monday 09-24-2001
                                                  section 1 of 2
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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In section one:

Market Wrap: Big Day
Market Sentiment: Boing!
Play-of-the-Day: Qualcomm  - QCOM (Bullish)
Watch List: P, QQQ, VRSN, BRCD 

-----------------------------------------------------------------
U.S. Market Numbers
-----------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
-----------------------------------------------------------------
       9-24-2001           High     Low     Volume Advance/Decline
DJIA     8603.86 +368.05  8649.39  8242.32  2.0 bln   2414/806
NASDAQ   1499.40 + 76.21  1507.51  1459.47  2.1 bln   2808/1109
S&P 100   513.03 + 21.33   516.35   491.70   Totals   5222/1915
S&P 500  1003.45 + 37.65  1008.44   965.80
RUS 2000  393.79 + 14.90   393.79   378.90
DJ TRANS 2129.99 + 75.15  2156.56  2055.25
VIX        41.33 -  6.94    45.52    40.05
VXN        69.52 -  8.21    77.79    68.93
TRIN        0.53
Put/Call Ratio       .55
-----------------------------------------------------------------

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

Big Day
by Jon Farnlof

Longs ended their weeklong game of "you first" and all of them 
tried to jump through the same porthole into the market today.  
The result was the 5th largest one-day gain for DOW Industrials 
as they tacked on 368 points , or 4.5-percent, to close at 8603.  
The Nasdaq went along with the senior board climbing a healthy 
76.22 points, or 5.3-percent to 1499.41.

Money managers had been itching for much of the past week to jump 
back into the market, as blue chip valuations just kept getting 
cheaper and more attractive during the worst week for the Dow
Industrials since the Depression.  

Daily Chart of The Dow Jones Industrial Average 



A number of factors got the bulls to running.  First, there was 
reassuring news late last Friday from market bellwether General 
Electric (GE).  Despite their insurance subsidiary taking it 
right on the chin following the disasters of September 11th, GE 
said it was "on track" for double-digit percentage earnings 
growth in 2001, and is "well-positioned" to grow at that level in 
2002.  This optimism let investors know that despite the economic 
blues, somebody was going to be making money.  

Also helping was that over the weekend a number of high-profile 
analysts came out saying it was time to go shopping including 
Goldman Sach's head of investment strategy Abby Joseph Cohen and 
Banc of America analyst Tom McManus.  Goldman jumped the 
recommended equity weighing in her model portfolio from 70-
percent to 75-percent, while McManus raised his equity weighting 
from 65-percent to 70-percent and reduced the bond to 25-percent 
from 30-percent.   Goldman cited government initiatives, 
corporate share buyback programs, idle cash, cheap valuations and 
uninterrupted operations in the banking systems for her change.  
MacManus sees the markets as "well positioned" for negative news.

Finally, on Monday there were some anecdotal evidence that the 
corporations were putting their wallets to work and implementing 
their much-ballyhooed corporate share buyback programs.  Put it 
all together and you have a big-time rally.  

Sectors benefiting the most on Monday were Internet, Computer 
Technology, Airlines, Semiconductors, Telecom and Networks.

Although the rally was broad-based, not all sectors participated.  
Oil futures suffered the biggest one-day decrease since the 
Persian Gulf War dropping 15-percent.  The price of crude oil 
closed down $3.82 to $22.44.  This is the lowest price since the 
$21.80 a barrel price from May 2000.  The culprits were concerns 
that a recession would slice demand, and that OPEC is pumping 
strong and unlikely to cut production at their Wednesday meeting.  
Reflecting the weak price of crude, the Oil Service Sector Index 
($OSX) lost 3.27 points, or 4.84-percent to 64.18.  Other weak 
sectors were: gold, natural gas and oil.

Chart of Light, Sweet Crude Futures (Dec 2001)



But the next question is, will it last?  Tough to tell.  The 
economy stinks and this week's economic reports are unlikely to 
freshen the air.  

Monday's Conference Board report on the US Index of Leading 
Economic Indicators show they fell by 0.3-percent in August, 
after four consecutive months of gains.  This seems to indicate 
that the economy had taken a turn for the worse even before the 
terrorist attacks.  Two big reports come out on Tuesday; the 
Consumer Confidence Report and Existing Home Sales.  Consumer 
spending and home sales have been the twin pillars holding up the 
economy from a complete meltdown.  So there is a chance that 
Monday's significant gains may disappear in a hurry if investors 
get spooked by negative reports.

The current official consensus forecast for Consumer Confidence 
to improve to 115.8 after dropping to 114.3 in August.  However, 
consensus forecasts often change much slower than economic 
conditions and September 11 was an economic earthquake.  
Therefore, any sign of improvement may be taken with a grain of 
salt.  Empty stores and airports around the country attest to the 
current level of consumer confidence and any statistical 
improvement may be attributed to pre-Sept. 11 data.  On the plus 
side, despite the consensus estimate, a drop in consumer 
confidence is probably already factored into the market.  The 
same situation holds for Existing Home Sales.  July sales slowed 
3-percent to 5.17 million and the consensus estimate for August 
is for a slight increase to 5.30 million.  

Media monster AOL-Time Warner (AOL) warning that sales and cash 
flow would suffer due to the terrorist attacks headlined market 
moving news occurring in the after-hours.  Also warning were 
office furniture manufacturer Herman Miller (MLHR) for its 
second-quarter and IT firm American Management Systems (AMSY) for 
its third quarter.  Going counter to the gloomy warnings was flat 
panel display maker Kopin (KOPN).  The firm citing strong demand 
increased its third quarter revenue target and said its third-
quarter 

Looking ahead, there does not appear to be anything of a 
magnitude capable of keeping the markets from stringing together 
a two or three day rally.   Money manager are still finding 
bargains and shorts are covering to book profits, as it is their 
turn to be nervous..  The economic news is likely to be dismal, 
but no investors are going to be surprised.  AOL Time Warner's 
warning will be a negative, but hopefully its decent growth 
projections  (20-percent  growth in 2001 pre-tax cash flow and 5 
- 7-percent pop in revenue) will keep it from being a show-
stopper.  The chief wild card is the national news.  Yet with the 
Bush administration preaching patience and the threat of imminent 
military action fading there does not appear anything likely to 
derail a rally in the short-term.


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

Boing!
by Jeffrey Canavan

Stocks got an overdue bounce today.  Be it short covering or 
bargain hunting, it was nice to see some green on my screen for a 
change.  

The Dow responded with its fifth largest point gain ever, and the 
Nasdaq tacked on 5.35%.  Breadth was positive with advancers 
beating decliners 24 to 8 at the NYSE and 27 to 11 at the Nasdaq.  
Volume was brisk with over 2 billion shares traded at the Nasdaq 
and 1.7 billion at the NYSE.

Market augur Abby Joseph Cohen exacerbated the ecstasy in 
equities by raising her recommend equity weighting 5% to 75%.  
Bank of America's Tom McManus also raised his equity weighting 5% 
to 70%.

Airline Index Daily Chart




Airline stocks gained 5.87% today, benefiting from the $15 
billion bailout package and an extreme oversold condition.  
Technically the Airline Index (XAL) could see a bounce to 74, or 
even retrace 38.2% of this summer's loss by climbing to 95.  
Fundamentally the picture is still clouded by small revenue swing 
greatly affecting earnings.  Airlines are only running at 50% of 
capacity.  Up from last week, but still below normal.

Retailers finished the day up 5.98% amid some mixed outlooks. 
Federated Department stores warned that September same store 
sales could be down 15 to 20 percent, and Sears also warned of 
lower than expected September sales.  Wal-Mart and JC Penny 
expect sales to meets forecasts.  Dollar General was too busy 
fixing some accounting irregularities to worry about sales 
forecasts.  Dollar General closed down 23% after announcing they 
were restating financial statements for the past three years due 
to improperly accounting for leases.

Gold Index Daily Chart




Gold stocks lost their luster today as investor pulled out of the 
safe haven to go wading back into more adventurous waters.  The 
Gold Index (XAU) dropped 3.24%, and now rests close to the 50-day 
moving average and 10-month up trend.

Crude oil suffered its largest one-day decline since the gulf 
war, and oil and oil service stocks finished down 3.00% and 4.84% 
respectively.  Oil stocks are just as oversold as the rest of the 
market, but an expected lack of demand is keeping oil prices 
lower.

Call it undervalued or oversold, today's action looked like 
prices settling back to normal after last week's steep sell off.  
While today's action was very encouraging for bulls, a basing 
period may be required before stocks can move substantially 
higher.  That's not to say we might not get a few more bullish 
days, but earnings warnings and economic reports might start to 
weigh on investors minds again.  We'll find out tomorrow when 
investors digest an earnings warning from AOL, consumer 
confidence and existing home sales.

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

            Support                Close              Resistance
DJIA       | 8,062  |      |      | 8604 |      |      |   9,110|
NASD       | 1,385  |      |      | 1499 |      |      |   1,670|
S&P 500    |   944  |      | 1003 |      |      |      |   1,100|
Rus 2000   |   373  |      |      |  394 |      |      |     420|
Semis      |   363  |      |      |  402 |      |      |     455|
Biotech    |   405  |  416 |      |      |      |      |     475|
Internet   |    84  |      |   92 |      |      |      |     105|
Networking |   210  |      |  224 |      |      |      |     260|
Software   |   100  |      |      |  124 |      |      |     159|
Banking    |   550  |      |      |  576 |      |      |     595|
Retail     |   695  |      |      |  734 |      |      |     765|
Drugs      |   353  |      |  361 |      |      |      |     377|

Last week's volatility has changed almost all support and resistance levels.

Support Alerts: 
Resistance Alerts:
            ____________________________________________________
           |   Long    |   Short   |   Strength    | Relative   |
           |   Term    |   Term    |     of        | Strength   |
           |   Trend   |   Trend   |    Trend      | vs S&P 500 |
DJIA       |  Bearish  |  Bearish  |    Strong     |  Negative  |
NASD       |  Bearish  |  Bearish  |    Strong     |  Negative  |
S&P 500    |  Bearish  |  Bearish  |    Strong     |    --      |
Rus 2000   |  Bearish  |  Bearish  |    Strong     |  Negative  |
Semis      |  Bearish  |  Bearish  |    Strong     |  Negative  |
Biotech    |  Bearish  |  Bearish  |    Strong     |  Negative  |
Internet   |  Bearish  |  Bearish  |    Strong     |  Negative  |
Networking |  Bearish  |  Bearish  |    Strong     |  Negative  |
Software   |  Bearish  |  Bearish  |    Strong     |  Negative  |
Banking    |  Bearish  |  Bearish  |    Strong     |  Neutral   |
Retail     |  Bearish  |  Bearish  |    Strong     |  Neutral   |
Drugs      |  Bearish  |  Bearish  |    Strong     |  Neutral   |

            _____________________________________
           | Short-Term  |          | Point and |
           | Overbought/ | Momentum |   Figure  |
           | Oversold    |          |   Signal  |
DJIA       | Oversold    |  Falling |   Sell    |
NASD       | Oversold    |  Falling |   Sell    |
S&P 500    | Oversold    |  Falling |   Sell    |
Rus 2000   | Oversold    |  Falling |   Sell    |
Semis      | Oversold    |  Falling |   Sell    |
Biotech    | Oversold    |  Falling |   Sell    |
Internet   | Oversold    |  Flat    |   Sell    |
Networking | Oversold    |  Falling |   Sell    |
Software   | Oversold    |  Falling |   Sell    |
Banking    | Oversold    |  Falling |   Sell    |
Retail     | Oversold    |  Falling |   Buy     |
Drugs      | Oversold    |  Falling |   Sell    |
             AP OB = Approaching Overbought
             AP OS = Approaching Oversold

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


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

Qualcomm  - QCOM Close:$47.60 Change:+2.71 Stop: $45.00 NEW

Original Comments When Selected on September 19th: 

Company Description:
Qualcomm created the code-division multiple access (CDMA) standard 
for wireless networks.  CDMA-based networks account for 12-percent 
of the worlds' mobile subscribers.  Qualcomm collects royalties for 
CDMA use and makes CDMA-based products such as chipsets and 
software.   Although, the US is a Qualcomm stronghold, it is 
working hard to expand in Asia, in particular China, off of its 
dominance in South Korea.  This effort got a big boost when China 
Unicom, China's second largest wireless operator, awarded $1.46 
billion in contracts for equipment to build a cdma-based network.  
The Chinese adoption of cdma is seen as crucial for Qualcomm, 
because as it is also critical for the adoption of cdma throughout 
Asia.  Unfortunately, on the heels of the good news was an 
announcement that Verizon Wireless was switching from cdma to a 
rival technology based on wCDMA.  

Fundamentals:
Analysts project the company, which earned $1.05 in the fiscal year 
ended September 2000, will earn $1.04 in 2001 and $1.28 in 2002.  
This gives the company a forward P/E of 43.  

Why We Like It:  
This is a pure traders play.  On Wednesday, Qualcomm shares put in 
a double bottom when they bounced off of the $42.75 session low set 
last April 4th with a dip to $42.60 before closing at $45.00.  For 
short-term traders who think that today's late rally may finally 
spark a 2 or 3-day rally on Thursday, QCOM shares are a good choice 
to consider.  These are volatile shares and wireless stocks are 
showing some strength, so any form of rally should result in a 
quick move to the $53 to $57 range, yet the successful test of the 
April low means that quality support is nearby.  We are starting 
this play with a $42.00 stop, just below the April and Wednesday 
lows.  The volatility of this play means it is for aggressive 
nimble traders only.  Good or bad it won't be around for long.  

Updated Comments:
The wireless companies have been looking stronger on a relative 
basis than most tech sectors.  This means they ought to outperform 
during an up trend.  With a good chance that Monday's rally will 
last for at least a day or two, Qualcomm shares are just the kind 
of play that will take maximum advantage of a bullish market.  But 
be prepared to be aggressive moving out of this play as into it.  
These are volatile shares with the ability to inflict extreme pain 
and pleasure in a very short time frame.  Great for a short-lived 
rally, but tough for the non-nimble.   We are pushing our stop up to 
$45.00. 

Picked on September 19th at $45.00
Gain since picked:           +2.60
Earnings Date                 N/A (Not Confirmed)





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

Phillips Petroleum - P - close: 51.50 change: -2.67

WHAT TO WATCH:  If you've been watching the news today you have 
probably heard about the sudden drop in oil futures.  The markets
saw oil futures turn in a 15% slide, the biggest one-day dip since 
the Gulf War, that put the black liquid under $22 a barrel for the
first time in over a year.  The rumor is that a growing concern
of a global recession will decrease the planet's energy demands.
Phillips' stock tried to give investors a bounce late last week
but today's pressure saw shares fall under $52 which has been 
significant support for the last year.  Traders may want to watch
for a close under $51 as a potential trigger to go short if the
oil concerns increase.  It is crucial that if you choose to trade
the oil stocks that you play with a stop as any military actions
overseas could cause strong volatility.  The stock is likely to 
find support at the $47 level.




---

Nasdaq-100 Tracking Stock - QQQ - close: 29.61 change: +1.42

WHAT TO WATCH:  As we mentioned the DIA's on Friday for stock
traders interested in trading the moves in the DJIA, today we
highlight the QQQ's or the Nasdaq-100 tracking stock.  A lot
of traders are familiar with the Q's as it consistently ranks
near the very top of the most active lists.  With volume this 
high one doesn't have to worry about liquidity.  If you've seen
a chart of the NASDAQ then you've seen a chart of the Q's.
The sharp bottom in early April, the resistance in May, the
long slow painful decline since.  Many are hoping that Friday's
low near $27 will be the bottom.  Whether they will be proven
right or not stock traders can play the Q's and potentially 
snatch a 10% gain or more out of this tracking stock.  Right now
the Q's are sitting just under resistance at $30.  If the rally
continues for three or four days like many believe then we could
see the stock hit $33 or $34.  We would consider waiting for a 
close over $30 before considering a long play with a tight stop
($1.00 or less).  More aggressive traders may want to consider
a play now with a stop at or below $29.  There is a growing 
segment of the trading population that likes to trade options 
on the Q's.  If you'd like to see how option traders maximize
the moves in this tracking stock please visit our sister site,
www.IndexSkybox.com.  They specialize in teaching traders how
to "trade the market" which is essentially what investors are
trying to do with the QQQ.




---

VeriSign Inc - VRSN - close: 39.86 change: +1.56

WHAT TO WATCH:  VRSN had been showing significant relative 
strength last week trading mostly sideways while the software 
sector continued to drop.  The stock even managed a 4% gain
today on top of the news that VRSN will spend $1.2 billion in
stock for Illuminet Holdings Inc (ILUM).  Analysts believe this
could be a strong move for VRSN and the fact that as the buyer,
its stock didn't plummet may mean the market approves as well.
We would watch for VRSN to close over the $40 level before
considering a long play.  Looking at the chart one can see
potential overhead resistance at $42.50, $45, and $47.50.
However, if a true multi-day rally ensues, these may mean little
to eager buyers and bears rapidly trying to cover (if they 
didn't today).




---

Brocade Communications - BRCD - close: 20.78 change: +3.09

WHAT TO WATCH:  First of all let us urge caution as anything up
over 17% in one day is not something we would encourage traders
to chase.  Yes, the stock was extremely oversold but the long
drawn out base it appeared to be building the last two weeks
may have bulls too eager or shorts now too scared.  With many
hoping we have a real tradable rally on our hands and brokers
coming out to upgrade the likes of CSCO, we're not surprised to
see other networking stocks like BRCD seeing big gains.  The
week before the attack the stock had been basing sideways at
the $20 level.  The week after the attack strong emotions in
the market took it down below support of $20 and shares of BRCD
traded below its April low to a new low of $16.40 before closing
higher.  With a second day between $17 and $18 on Friday (a higher
low from the $16.40) short covering was the likely culprit on
Monday's big (and steady) gains.  The close over $20 could spur
real buyers and given the opportunity the stock could climb to
$22, $23 or $25 without too much opposition.  Aggressive traders
may see this as an entry point now but we might suggest looking
for a potential dip back to $20 before initiating a play.  
Confirm market and stock direction before making a move.





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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.

Please read our disclaimer at:
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Copyright  2001  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.


PremierInvestor.net Newsletter                  Monday 09-24-2001
                                                   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/4893_2.asp
=================================================================

In section two:

Split Trader
  Split Announcements: none
  New Plays: none
  Play Updates: none active at this time
  Closed Plays: none

Net Bulls
  New Plays: none
  Bullish Play Updates: See Play-Of-Day Qualcomm
  Bearish Play Updates: none
  Closed Plays: 3M - MMM, PeopleSoft - PSFT

Stock Bottom / Active Trader
  New Plays: none 
  Bullish Play Updates: none
  Bearish Play Updates: 
  Closed Plays: Argosy Gaming - AGY, TCF Financial - TCB 

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) 

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


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

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

  See Play of Day - Qualcomm in section 1

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

  --------------------
  Closed Bearish Plays
  --------------------
3M - MMM - close: 91.67 change: +4.69 stop: 90.50 

Traders should not have been surprised that MMM was stopped out
on Monday.  Before the market opened we had an indication that the
rebound would begin today as the European markets were up strongly
and the Dow futures were up 247 points before the open.  As a 
Dow component, MMM rallied quickly to $90 after opening at just
under $87.  It didn't take long before our bearish play was 
stopped out at $90.50 but the newsletter was able to claim a
16.25 point move and over a 15% change.  Nimble traders who like
to trade MMM may want to watch the stock as many market analysts
believe the rally could last throughout the week before another
retest of the lows should occur.

Picked on August 29th @ $106.75
Gain since picked:      + 16.25
Earnings Date:              N/A  




---

PeopleSoft - PSFT - close: 20.38 change: +0.69 stop: 21.26  

Better safe than sorry.  We lowered our stop on Friday to 21.26
to protect us from any violent short-covering that might have 
spurred a multi-point rally in PSFT.  Unfortunately for PSFT
shareholders, no such rally occurred.  The GSO software index
did rally sharply with the market gaining over 6%, in stark 
contrast, PSFT traded most of the day sideways and hovered 
around the $21 level before dipping towards the close.  The end
result of our bearish short on PSFT is a 13.22 point move and
a final percentage drop of 38.3%.  The $20 level may be a bottom
for PSFT but we remain concerned by its lack of participation 
in today's market rebound.

Picked on August 31st @ $ 34.48
Gain since picked:      + 13.22
Earnings Date:              N/A  





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

===============
AT Closed Plays
===============

  -----------------
  Closed Short Play
  -----------------

Argosy Gaming - AGY - close: 24.65 change: +1.65 stop: 24.50

Considering that the overseas markets were up strongly this morning
and the Dow futures were up almost 250 points before the open, it
would be logical to assume that no one would have been shorting 
this stock on the open or throughout the day as investors saw that
the rally would last all day.  While we picked this play on Friday
after the close, we will still be taking the $1.50 loss on our
results.  Shares of AGY gapped up to open at 24.20 before climbing
higher as buyers and more likely shorts began to cover their 
positions from last week's drop.  It is still very likely that the
gaming industry will suffer well into the 4Q of this year as the
U.S. consumer continues to digest the full scope of what happened
on Sept. 11th but we will keep our eyes and ears open for news 
indicating one way or the other.

Picked on September 21st @ $23.00
Gain since picked:         - 1.50
Earnings Date:              10/23 (not confirmed)




---

TCF Financial - TCB - close: 42.12 change: +1.34 stop: 42.00

In a similar reaction, shares of TCB gapped higher, opening at
$41 before quickly stopping us out at $42.00.  The S&P banking
index (BIX.X) rose 4.7% today as the broader market finally 
produce a massive one day rally from these extremely oversold
conditions.  It is possible that TCB is flirting with a bottom 
here near the $40 level and Monday's close did put it back above
the 200-dma (41.71) but before we would consider a long play 
we'd like to see it base for a while.  The newsletter was able
to capture a 5.60 point move or an 11.7% drop for this bearish
short play.

Picked on August 24th @ $47.60
Gain since picked:      + 5.60
Earnings Date:            N/A (not confirmed)





==================
  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
BA        Boeing                    32.80   +2.70
MXT       Metris Companies          23.40   +2.39
BRP       Brasil Telecom            25.80   +2.19
USTR      United Stationers         27.74   +1.81
CHP       C&D Technologies          19.35   +0.87

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

Ticker    Company Name              Close  Change
CHL       China Mobile              15.85   +1.05
ORCL      Oracle Corp               12.52   +1.76
WCOM      Worldcom                  13.81   +1.43
JDSU      Jds Uniphase               6.39   +1.03
ATYT      Ati Technologoes           8.30   +1.20

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

Ticker    Company Name              Close  Change
WMT       Wal-Mart                  47.28  +2.62
GE        General Electric          35.20  +3.90
KFT       Kraft Foods               33.50  +1.50
SNE       Sony                      38.65  +1.90
MMC       Marsh & McLennan Cos      86.29  +4.27

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

Ticker    Company Name              Close  Change
UN        Unilever N.V.             53.40   -1.50
CHV       Chevron                   81.10   -2.91
EDS       Electronic Data Systems   56.00   -1.10
P         Phillips Petroleum        51.50   -2.67
CI        Cigna                     77.20   -1.96

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

Ticker    Company Name              Close  Change
none


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