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Daily Newsletter, Friday, 09/28/2001

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PremierInvestor.net Newsletter          Weekend Edition 09-28-2001
                                                    section 1 of 3
Copyright  2001, All rights reserved.
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In section one:

Market Wrap: Stocks end week on bullish note
Market Sentiment: Quite a Quarter
Play-of-the-Day: Jacobs Engineering Group - JEC
Watch List: WEBX, STJ, WHR, LEH, VGR

------------------------------------------------------------------
U.S. Market Numbers
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MARKET WRAP  (view in courier font for table alignment)
------------------------------------------------------------------
        WE 9-28          WE 9-21          WE 9-14           WE 9-7
DOW     8847.21 +611.40  8235.81 -1369.7  9605.51 -   .34  -343.90
Nasdaq  1498.80 + 75.61  1423.19 -272.18  1695.37 +  7.67  -117.73
S&P-100  533.10 + 41.40   491.70 - 66.88   558.58 +  4.69  - 23.51
S&P-500 1040.94 + 75.14   965.80 -126.74  1092.54 +  6.76  - 47.80
W5000   9562.93 +662.48  8900.45 -1203.9 10104.44 + 37.95  -448.60
RUT      404.87 + 25.98   378.89 - 61.84   440.73 -  4.46  - 23.37
TRAN    2193.99 +139.15  2054.84 -621.65  2676.49 - 36.65  -100.27
VIX       35.19 - 13.08    48.27 + 13.67    34.60 +   .24  +  6.51
VXN       65.19 - 12.54    77.73 + 13.89    63.84 -  1.61  + 12.59
TRIN        .73              .60              .68             1.25
TICK       +995              +21             +100             -113
Put/Call    .61             1.27             1.01              .84    
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===========
Market Wrap
===========

Stocks end week on bullish note
by Jeff Bailey

Stocks ended the week on a bullish note, but recent past has some 
asking, "Can this market carry a tune?"  Of the most widely 
followed market indexes, the S&P 500 (SPX.X) and Dow Industrials 
(INDU) both gained over 7% this week, with the S&P 500 closing at 
1,040 and the Dow finished the week up 612 points at 8,847.

The smaller-capitalized stocks as depicted by the Russell 2000 
(RUT.X) gained 6.8% on the week and they too finished at their 
weekly and session high of 404 and a daily gain of 3% or 11.9 
points.

Broader technology remains suspect as the NASDAQ Composite 
(COMPX) gained 5.2% on the week to finish at 1,498, but was 
unable to close above Tuesday's high of 1,528.  This indicates to 
me that there's still a bit of a "sell bias" in some technology 
related stocks.  The narrower NASDAQ-100 Index (NDX.X) gained 
3.7% on the week to finish at 1,168, but it too was unable to 
close above Tuesday's high of 1,220.

Part of this week's trading results for some of the broader 
market averages was most likely due to some portfolio window 
dressing by fund managers.  Today marked the end of the third 
quarter and many fund managers may have been hesitant to go 
before their clients holding some technology stocks that lack 
earnings or have shown poor performance in the latest quarter(s).  
With the NASDAQ down nearly 31% from its June 29th close of 
2,160, it may have been tough for some fund managers to be 
holding big positions in technology stocks.  Conversely, a 
portfolio invested in many blue chips that have weathered rough 
economic times, may have taken less explaining.

AT&T Corporation - last six months





A 16% gain in a week seems like old times for some technology 
stock traders and who would have thought shares of AT&T (NYSE:T) 
were capable of such a feat?  Last week we thought shares of AT&T 
might be a near-term out performer to the upside.  While last 
Friday's trading had many questioning that analysis, one of our 
upside targets at the $19.41 level was achieved and gives some 
investors account a bit of breathing room.  I don't think the 
stock can add another 16% next week, but subscribers that put 
some money to work here now have a profit.

There were other stocks besides AT&T (T) that found some profits.  
Several of the plays listed on PremierInvestor.net's play list 
have done well.  Yes, some have done better than others, but many 
traders/investors may have never heard of Suiza Foods (NYSE:SZA) 
until our recent profile on September 19th at $57.01.  Today the 
stock traded a 52-week high at $64.73 before settling back and 
closing down 1.11% to $63.14.  The technicals in Suiza Foods 
(SZA) are directly inverse of those found in AT&T (T) and looks 
to have been benefiting from the lack of overhead supply.

Suiza Foods - last seven months





In yesterday's market wrap, we mentioned that Suiza Foods 
(NYSE:SZA) had achieved a bullish price objective of $63 from our 
point and figure chart and we wanted to tighten up our stop to 
the $62.50 level.  In the current market environment, we want to 
practice the discipline of keeping a fairly tight stop under 
profits as investor psychology is shaky.  SZA is starting to look 
a little overextended and the "rolled up retracement" gives 
traders some good levels to be monitoring.  SZA has a habit of 
making some nice runs higher, only to pullback and offer another 
trading opportunity.  Suiza could very well see a pullback to 
38.2% retracement of $59.45 or $57.71.  We feel that's too much 
profit to be giving back from the profiled entry at $57.01 so the 
stop stays at $62.50.  If a trader gets stopped out, then he 
raises some cash and perhaps looks for a better opportunity with 
better risk reward.  Should a pullback occur to the $57.71-$59.54 
levels then perhaps it's time for another glass of milk!

Notice how different the charts are of AT&T (NYSE:T) and Suiza 
Foods (SZA) are when compared to each other.  AT&T (T) was 
identified using some very basic observations of strength as a 
Dow component that shares the "telecom" flavor of SBC 
Communications (NYSE:SBC) and was showing some near-term relative 
strength in the Dow Industrials.  Suiza (SZA) is more of an 
upward trend play, that seems to benefit from lack of overhead 
supply.  It may be considered as "defensive" or not as 
economically driven and shorts (bearish traders) are probably 
shying away from the stock.  This creates a "lack of supply" 
issue and when the stock has reversed a short-term downward trend 
the stock has made some nice moves higher.

Then there are stocks like WebEx Communications (NASDAQ:WEBX).  
Yes, we profile some 4-lettered stocks still.  We wrote this one 
up in this morning's 09:00 EST update as a stock we felt might be 
ready for a big move in either direction (up or down).  We were 
leaning to the upward direction and today, shares of WEBX did a 
little bit more than just lean to the upside as the stock surged 
14.8% to close at $21.24.

WebEx Communications - last nine months





A 14% gain isn't a bad way to finish off a trading week, or 
perhaps begin next week.  Shares of WebEx (WEBX) hovered around 
the $19 level for about the first hour of trading, but that break 
above the $19 level and our 61.8% retracement seemed to get 
things going.  The stock traded good volume, but I feel we need 
to see another good volume day on Monday and a break of 
Thursday's high ($21.40) to get the stock into second gear.  
While a bullish trader's psyche is still shaky with all that has 
taken place, a trader that's short shares of WEBX anywhere near 
the $21.25 level or lower might be getting a little nervous with 
some of the broader market indicators in oversold condition.  
It's never fun to be short a stock that's in an upward trend.  We 
felt there was some disagreement between the bulls and bears 
regarding WebEx and today the bulls had the upper hand.

Different strokes for different folks

The past two weeks we've been discussing and trying to teach some 
different ways for traders/investors to be looking at stocks.  
Some have been fairly simplistic, like sorting the Dow Industrial 
components by %gain from Sept. 10th, to try and identify relative 
strength.  We've also been using our retracement bracket tools 
with "conventional retracement" and "fitted retracement" to help 
identify where the buyers and sellers are going to be.  We're 
using the point and figure relative strength charts to help 
ascertain relative strength characteristics along with the point 
and figure charts themselves to try and forecast potential price 
objectives and buy/sell signals.  

Hopefully your finding some the of techniques useful and have a 
better understanding of our play selection.  Those that are 
putting some of these techniques to use on their own in some of 
their own play selection are getting some good results.

The last quarter was a tough one for the "buy and hold" bullish 
investor.  Right now I still feel it's better to sell some 
strength in a bullish position that has you sitting with a 
profit, than it is to risk holding the stock and watch it turn 
into a loss.

Investor psychology plays a very important role in how we should 
be investing/trading right now.  I do think a longer-term 
investor (with a 3-5 year time horizon) has some very good 
opportunities to be buying stocks right now.

If you're the type of investor that doesn't want to take a lot of 
heat, then it looks like you may want to stay away from the 
NASDAQ stocks for a little while longer.  Yes, a 14% gain in a 
day looks fantastic, but right now, market makers are not going 
to be willing to take in a lot of inventory or support stocks if 
a big seller comes to the table.  As soon as the market maker 
sees a seller in a NASDAQ stock wanting to dump 200,000 shares, 
that market maker is most likely to start lowering his/her bid in 
order to reduce their risk exposure, especially if the stock is 
in a downward trend.

Monday will be interesting.  We may see some weakness if the 
recent rally was only due to end of quarter window dressing by 
fund managers.  With this in mind, we want to be relatively 
nimble in our trading and be willing to book gains when we get 
them.

For longer-term bullish investors, I think the approach of 
establishing a 1/4 or 1/2 position in the stock and setting a 
stop is necessary.  I also want to identify a near-term target 
level that when achieved is a level to monitor closely.  If the 
stock is able to break above your near-term bullish target level, 
then add to that position, again with the longer-term in mind.  
DON'T average down!  It's painful to think that investors have 
been averaging down in a stock that has perhaps fallen from $50 
to $40 to $30 and so on, to only have the stock now trading $19.  
I'm not just talking about "technology stocks" either.  I could 
very well be talking about AT&T (T)!  A longer-term investor in 
AT&T that perhaps bought some stock this week at $17, might be 
well served to not buy anymore until the stock trades $21.40.  
Then he/she can "average up" and at the same time systematically 
raise his/her stop to $17.  That way, they're reducing risk on 
the second batch bought.

Bearish traders.... we haven't forgotten about you, but many of 
the broader market indicators have been oversold and we need to 
be very selective on what we're profiling for bearish trades.  
Believe it or not, earlier this spring I got an alarming e-mail 
from a subscriber that was getting some margin calls because he 
had shorted a stock, not used a stop, and the stock was running 
away from him.  Be very disciplined with your stops when shorting 
right now.  Yes, there's a lot of "doom and gloom" in the media 
right now and that's when a bearish trader tends to get 
complacent and lets the trade get away from them.

Have a great weekend and we'll see you back here on Monday!

Jeff 


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

Quite a Quarter

As the third quarter comes to a close, the numbers aren't very 
encouraging for bulls.  The Dow and S&P 500 lost over 15%, and the 
Nasdaq Composite lost 30.6%.  Ouch!

It doesn't get any better for tech bulls in October.  Traditionally 
October is the worst month for the Nasdaq, Losing a total of 10.5% for 
the month between years 1971 and 2000. October is the only month with 
a cumulative net loss.  The good news is that the end of October marks 
the end of worst six-month period for the Nasdaq (May to October).   
Could this October be different?  Certainly, we are in uncharted 
waters.

Dow Jones Industrial and Nasdaq Composite Daily Charts




 

While the waters may be uncharted, we do have charts.  A chart of the 
Dow is telling us that we are starting to get a little overbought.  
There might be a little more room for the Dow to rise to 9,000, but 
the stochastic is saying that a reversal looks imminent.  

The Nasdaq continues to struggle compared to the Dow.  The tech index 
has yet to climb above its 10-day moving average, or take out Tuesday's 
high of 1528.  It's not quite as overbought as the Dow, but the 
stochastic could quickly roll over.  Look for weakness around 1,28 as 
a clue.


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

Market Volatility
    
VIX   35.19
VXN   65.44

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

          Put/Call Ratio  Call Volume   Put Volume
Total          0.61        745,773       456,710
Equity Only    0.49        657,681       320,749
OEX            1.55         14,674        22,738
QQQ            0.45         59,287        26,829
 
-----------------------------------------------------------------

Bullish Percent Data


           Current   Change   Status
NYSE          18       -      Bear Confirmed
NASDAQ-100    12      +12      Bear Confirmed
DOW           18       -      Bear Confirmed
S&P 500       16       -      Bear Confirmed
S&P 100       16       -      Bear Confirmed

Bullish percent measures the number of stocks in an index 
currently trading on a buy signal on their point and figure 
chart.  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  0.91
10-Day Arms Index  0.95
21-Day Arms Index  1.18
55-Day Arms Index  1.23

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      2501            691
NASDAQ    2539           1177

        New Highs      New Lows
NYSE       58            102
NASDAQ     46            162

        Volume (in millions)
NYSE     1,646
NASDAQ   2,086
-----------------------------------------------------------------

Advisory Sentiment 

Bullish  Bearish  Correction  Net Bullish   Change 
  35.7%    37.6%     26.7%       -1.9%      -15.3%

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: 09/25/01

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

Bears have gotten 40% less bearish over the past two weeks, but 
the numbers are a bit deceiving.  Rather than institutions adding 
new long positions, there was a mass exodus out of S&P 500 futures. 
For the period ending 9/25, open interest, the number of contracts 
outstanding, fell 103,420, or 17%.  The 64,787 drop in institutional 
short positions suggests short covering, and the lack of new 
positions, long or short, being added echoes the wait and see 
approach.

Commercials   Long      Short      Net     % Of OI 
9/10/01      359,360   442,070   (82,710)   (10.32%)
9/18/01      406,387   471,823   (65,436)   ( 7.45%)
9/25/01      357,873   407,036   (49,163)   ( 6.43%)

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
9/10/01      156,500     69,090   87,410     38.75%
9/18/01      172,988    100,531   72,457     26.49%
9/25/01      122,613     71,721   50,892     26.19%

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

Nasdaq futures - big drop in open interest, but little change in 
commercial net positions.

Commercials   Long      Short      Net     % of OI 
9/10/01       26,784     37,912   (11,128)  (17.20%)
9/18/01       35,497     45,731   (10,234)  (12.60%)
9/25/01       26,761     36,812   (10,051)  (15.81%)

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
9/10/01       15,263    12,555    2,708       9.73% 
9/18/01       22,876    21,702    1,174       2.63%
9/25/01       10,699     6,580    4,119      23.84% 

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

Slight drop in institutions net bullish stance, but the % of open 
interest jumped due to the drop in open interest.

Commercials   Long      Short      Net     % of OI
9/10/01       25,445    13,033   12,412     32.3% 
9/18/01       28,425    15,077   13,348     30.7%
9/25/01       20,013     7,806   12,207     43.9%

Most bearish reading of the year: (8,322) - 1/16/01
Most bullish reading of the year: 13,348  - 9/18/01

Small Traders  Long      Short     Net     % of OI
9/10/01        7,460    12,735    (5,275)   (26.12%) 
9/18/01        7,335    15,044    (7,709)   (34.45%)
9/25/01        4,530    12,621    (8,091)   (47.18%)

Most bearish reading of the year:  (8,091) - 9/25/01*
Most bullish reading of the year:   1,909  - 1/16/01

COT Commercial Net Position Charts




 

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



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

Jacobs Engineering - JEC - close: 62.40 change: +1.49 stop: 57.50

Original Comments When Selected On September 25th:

Company Description:
Jacobs Engineering is one of the big boys of global construction 
along with rivals Bechtel and Flour.  Over 40-percent of company 
sales are generated by engineering and construction projects for 
the chemical, petroleum, and pharmaceutical and biotech industries.
Public contracts contribute another 35-percent with the US 
government contracts alone, particularly aerospace and defense, 
consisting of 18-percent.  Projects include buildings, process 
plants, manufacturing facilities, paper and pulp plants, highways 
and bridges. Jacobs also provides consulting and plant maintenance 
and operation.  The firm is 13-percent owned by founder and 
chairman Joseph Jacobs.

Fundamentals: 
In the fiscal year ending September 2001, the company earned $2.82 
per share on sales of $3.4 billion.  This year, analysts project 
the company will earn $3.21 per share and $3.70 in 2002. Earnings 
projections have been stable. In the last 90-days, the consensus 
analyst earnings estimate has risen 1-cent.  The company has a 
projected September 2001 P/E of 19.  The industry average P/E is 
22.43.  The company has minimal long-term debt with a cash flow of 
$4.68 per share (industry average is $1.69). 

Why We Like It: 
We like this play for both fundamental and technical reasons.  On a 
fundamental basis, the share are inexpensive in relation to its 
peers with per share cash flow almost three times the industry 
average, yet with a below average P/E.  On technical basis, the 
shares simultaneously bounced off their long-term up trend and 
$57.80 200-day moving average on Monday and then built on that 
rebound with a $2.06 pop on Tuesday.  The bullish momentum is 
confirmed with a rising volume trend. Tuesday's 342k-share volume 
was above the 318k daily average and Monday's 277k traded.  Another 
piece of bullish evidence was a late-day rally that pushed through 
the $60.44 50-day moving average.  The shares seem ready to test 
significant resistance at $65.50.  If they can push through that 
level, the next area of upside resistance should be encountered 
near $70.00.  Our point and figure analysis produced a 6-12 month 
price target of $80.  We will initiate this bullish play by sliding 
a $57.50 stop underneath the 200-dma.. 

Updated Comments:
Jacobs shares broke out of a base on Friday they had been building 
since mid-August.  It remains to be seen whether this move is a 
start of a meaningful leg up or just a low-volume expression of 
window dressing.  Still, a $1.49 one-day gain is strong bullish 
move and we are optimist that our original outlook is starting to 
play itself out.  

Picked on September 25th at $61.21
Gain Since Picked:          + 1.19
Earnings Date                11/01 (Not Confirmed)





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

WebEx Communications - WEBX - close: 21.24 change: +2.74

WHAT TO WATCH: Our weekend long-term play selection banged off of 
support to put in a one-day $2.74 gain.  The bullish catalysts were 
positive indications from the web conferencing company and several 
analysts that the firm is seeing a surge in new business following 
the terrorist attacks.  One report said that that late-Friday Wit 
SoundView was making positive comments on WEBX, indicating that the 
company will be coming in at the upper end of the range for the 
September quarter and is confident about the December quarter.  A 
$2.46 one-day gain is too much to chase without further evidence of 
bullish momentum, but a dip could provide an attractive entry point. 
If the shares put in a convincing rally on Monday that would be 
evidence enough that the bulls are here to stay. otherwise we will 
wait for a dip to about $19.50.




---

St Jude Medical - STJ - close: 68.45 change: +0.45

WHAT TO WATCH:  After a sharp run up from the $58.50 close on 
September 21st, shares of this medical device maker are looking 
tired.  On Friday the candlestick chart produced a doji pattern, 
this means despite intraday significant attempts by bulls to go 
higher and bears to push the shares lower, the tug-of-war ended in 
a near standoff.  This is a sign of market indecision.  A meaningful 
close higher or lower than Friday's end of session price over the 
next couple of days will strongly suggest whether the bulls or 
bears won.  We are betting on the bears.




---

Whirlpool Corp Inc - WHR - close: 55.35 change: +2.90

WHAT TO WATCH:  Do you really think that in this economy Whirlpool 
is going to see a surge in sales of big-ticket home appliances - 
neither do we.  For bulls to push these shares higher they will need 
to tackle the $57.11 200-day moving average and a huge downside gap 
between $58.65 and $61.76 created on September 10th.  If these shares 
try to fill that gap this will make a nice short. 




---

Lehman Brothers - LEH - close: 56.85 change: +2.19

WHAT TO WATCH: Lehman shares have produced a six-day rally from 
$44.25 to Friday's $55.35.  The problem is that volume is decreasing 
as rapidly as the price went up.  From 7 million shares traded on 
the 10th to 2.2 million on Friday (an average day is 2.4 million), 
these shares are setting up a classic shorting opportunity as bulls 
are falling off the bandwagon.  Watch for any sign of price weakness. 
Textbook would combine that weakness with a spike in volume.




---

Vector Group - VGR - close: 42.74 change +1.24

WHAT TO WATCH: A breakaway gap, a slight consolidating dip and a 
strong break above resistance on above average volume.  Toss in a 
late day rally and a bullish break on the point and figure chart, 
and you have all the ingredients for a bullish leg up.  The $46.00 
52-week high set in late August looks to be in peril.







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Do not duplicate or redistribute in any form.


PremierInvestor.net Newsletter          Weekend Edition 09-28-2001
                                                    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/3593_2.asp
=================================================================

In section two:

Split Trader
  New Plays: Chevron Corp. - CHV (Bullish)
  Play Updates: JEC
  Closed Plays: none

Net Bulls
  New Plays: Gilead Sciences Inc - GILD (Bearish)
  Long-Term Play:  WebEx Communications - WEBX 
  Bullish Play Updates: DNA
  Bearish Play Updates: MOLX
  Closed Bullish Plays: none
  Closed Bearish Plays: FDC

Stock Bottom / Active Trader
  New Plays: none
  Bullish Play Updates: LMT, MO, RMIC, SZA
  Bearish Play Updates: KMI, TROW
  Closed Bullish Plays: none
  Closed Bearish Play:  ACF


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

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

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

Chevron Corp. - CHV - close: 84.75 change: +1.25 stop: 81.50

Company Description:
The third largest US integrated oil company (behind Exxon Mobil and 
Texaco) runs more than 8,100 gas stations and has proved reserves of
5 billion barrels of oil and 9.5 trillion cu. ft. of natural gas.  
It will expand even further by buying Texaco, and the new 
ChevronTexaco will be the world's fourth-largest integrated oil 
company, behind Exxon Mobil, Royal Dutch/Shell, and BP.  Overseas,
Chevron is pursuing an exploration and production strategy in such 
lucrative areas as Kazakhstan and Angola, and it holds a 50-percent 
stake in Caltex, a global refiner and marketer jointly owned by 
Texaco. Chevron has also combined its chemicals operations with 
those of Phillips Petroleum.

Fundamentals: 
Analysts forecast the company will earn $7.72 per share in 2001 and 
$6.00 in 2002.  Last year, the company earned $8.13 per share.  The 
company has a forward 2001 P/E of 10.9.  This is in line with the 
industry average of 11.24.  In the last 90-days, seven of 18 covering 
brokerages have lowered earnings estimates for the firm, one of whom 
did so in the last 30 days. 

Why We Like It: 
How low is too low?  When the markets reopened on the 17th, the 
December futures for light, sweet crude closed at $29.13 a barrel 
(up $1.24) and Chevron shares at $90.22 (down $1.48).  Since then, 
both assets have been on a slide with oil bottoming at $20.75 on the 
26th and Chevron reaching $78.60 a day later.  Both have rebounded, 
with oil closing at $23.68 on Friday and Chevron ending the same 
trading day at $84.75.  This improvement is impressive given that 
on Wednesday, OPEC decided not to reduce the production, saying 
that a barrel price between $22 and $28 is ok.  Several factors 
are contributing to the rise; one was their greatly oversold 
condition, and the other a sense that some semblance of stability 
is returning to the middle-eastern oil producing areas.  For this 
we can thank the reduced threat of imminent military action and 
supportive actions by area nations.  With tensions easing and 
reasonable valuations, the oil sector is starting to look like a 
safer place to go swimming.  As one of the best names in the 
industry with shares so near a significant bottom, Chevron is 
attracting its share of bargain hunting value investors.  The 
shares have enough current momentum to put in a test of the 
$88.96 200-day moving average.  We will start this play with a stop 
at $81.50.

Picked on September 27th at $84.75
Earnings Date                  N/A (Not Confirmed)





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

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

Jacobs Eng. - JEC - close: 62.40 change: +1.49 stop: 59.75 *new*

With the strong close for the 3Q the Dow's performance helped spur
buying into plenty of three-letter stocks on Friday.  Shares of 
JEC dipped to 61.00 before seeing a strong surge up to 63.50 all
before noon.  Later Friday afternoon the stock fell back to 62.00
and bounced higher towards the close.  Technically, $61.50 should
be support but if the broader markets don't hold up next week 
investors might be forced to see if $60 will be a stronger level
of support for JEC.  Because of this, we're going to move our stop
up a couple of points to just under the $60 level.  Putting it at
$59.75 gives us a little bit of room in case the stock sees a 
temporary dip down.  Looking overhead we would like to see JEC
make it to $65 before encountering strong resistance.

Picked on September 25th @ $ 61.21
Gain since picked:          + 1.19
Earnings Date:               11/01 (not confirmed)






==================================================================
Net Bulls (NB) Tech Stock section
==================================================================

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

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

Gilead Sciences Inc - GILD - close: 56.17 change: -0.65 stop: 60.00

Company Description:
Gilead Sciences is in the hunt for biotech answers for bacterial, 
fungal and viral infections including the flu, cancer and AIDS.  
The company's Tamiflu went on the market in time for the 1999-2000 
flu season, but its best seller is AmBisome, which is used to treat 
systemic fungal infections such as those that are associated with 
AIDS. Other products on the market are DaunoXome, a treatment for 
Kaposi's sarcoma, and VISTIDE, to treat eye infections. The firm 
has products in the pipeline for hepatitis B and various cancers. 
Gilead Sciences has marketing agreements with such heavyweights as 
GlaxoSmithKline, Pharmacia, and Sumitomo Pharmaceuticals.

Fundamentals: 
Analysts expect the company to lose $1.25 per share on sales of 
$212 million in 2001 and 14-cents on $312 million in 2002.  Last 
year, the firm lost 48-cents per share on sales of $196 million.

Why We Like It:
Gilead is a solid biotech firm with a decent pipeline.  We are 
making this a bearish play for technical reasons.  The 
Biotechnology Index ($BTK) has put in a nice four-day rally.  
However, after spiking up sharply in the morning trading session 
the index faded badly through to the close.  For candlestick 
aficionados - the chart formed a shooting star pattern, a sign the 
sector has run out of gas.  Gilead has pretty much mirrored the 
index, it too rallied for the previous four trading session before 
declining on Friday.  The intraday behavior was similar to the 
index - a spike in the morning followed by a fade into the close.  
A point and figure analysis confirms that after hitting $45, the 
shares trended higher until reversing right on schedule at the $58 
bearish resistance line. It seems likely the shares are going to 
test support in the $46 to $50 area before beginning another leg 
up.  We will start this bearish selection with a stop at $60.00.

Picked on September 27th at $56.17
Earnings Date                10/25(Not Confirmed)







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

WebEx Comm. - WEBX - September 27th close: $21.24 change: +2.74

Company Description:
WebEx Communications offers services that let companies orchestrate 
meetings over the Internet. Clients such as Siemens, Oracle, and 
TIBCO Software subscribe to the WebEx Meeting Center, which is 
responsible for more than 90% of sales. The service enables 
companies to convene with employees, clients, and partners to make 
presentations, exchange documents, and record and play back videos. 
WebEx also offers services that allow companies to provide live, 
technical support for their customers, accessible through Web 
browsers.

Fundamentals: 
Last year, the company lost $1.85 per share on sales of $25.4 
million.  This year, the company is expected to narrow those losses 
to 46-cents a share on sales of $77 million, and to become 
profitable in 2002 with earnings of 24-cents per share on $146 
million.  As of June the company had $27.6 million in cash, short-
term debt of $3.3 million and long-term debt of $4.2 million.   

Why We Like It: 
Conducting meetings over the Internet is a low-cost technology that 
is long on promise and has been a long time reaching widespread 
acceptance.  The acceptance of that technology was greatly 
accelerated when the world turned around on September 11th.  There 
are a number of reasons why companies are rushing to embrace this 
high tech approach to running a meeting or conducting a training 
class.  First of all, reducing business travel can save time, 
reduce expenses and boost productivity.  All are desired 
commodities in a recession.  Also, employees' fear of airline 
travel and their reluctance to navigate the hassles associated with 
increased airport security measures are making them more willing to 
sacrifice the advantages of face-to-face meetings.  With over 4,000 
customers the company is one of the leaders in this industry.  
Following the terrorist attacks, there are indications from 
analysts that the company has seen a surge in interest from 
potential customers and increased usage from existing accounts.  In 
addition, Briefing.com reported late Friday that SoundView is 
making positive comments on WEBX indicating that the company will 
coming in at the upper end of the range for the September quarter 
and is confident about the December quarter.  Clearly, for 
investors searching for a leader in a cost-effective technology 
that has come of age - WEBX shares are worthy of consideration.

Earnings Date                10/17 (Not Confirmed)





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

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

Genentech - DNA - close: 44.00 change: -0.84 stop: 41.50 

As our regular readers know, we were discussing the biotech
sector's big bounce on Thursday and comparing the move with
a common retracement tool.  Thursday's big jump allowed the
BTK.X to recover 23.6% of its big slide these last few weeks.
The 23.6% is a Fibonacci retracement level.  The reason we
bring it up again was the uncanny coincidence that Friday's
session saw the Biotech index soar to 469 early in the day
before selling off again.  It just so happens that 469 is 
pretty darn close to the 38.2% Fibonacci retracement level
measuring the same slide.  For those of us that are not into
reading technical indicators stuff like Fibonacci numbers can
seem like mumbo jumbo.  We like to look at them because in
times of uncertainty we find that many times (not all) fund
traders or professionals will look for some level or as some
pundits refer to it a line in the sand to help them gauge 
when and where they should sell or buy a stock or equity
after a strong move or bounce.  I digress, we're trading DNA
not the BTK.  However, a trader should ALWAYS consider the
strength of the trend in the market and sector before 
considering a trade in a stock.  DNA also saw an early morning
spike trading up to overhead resistance at $46 before coming
back to the $44 level.  Unfortunately, DNA closed below $44
right before the close.  At this time we stand by our stop
at $41.50 as we would expect shares of DNA to find support
at the $42 level.  We warned our readers Thursday that DNA
might see some profit taking on Friday and 84 cents isn't that
bad.  Confirm stock and market direction on Monday before
looking to enter new plays.  Look for a bounce at $42 or $43
or another close back over $44.

Picked on September 20th @ $41.20
Gain since picked:         + 2.80
Earnings Date:              10/10 (confirmed)





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


Molex Inc - MOLX - close: 28.11 change: +0.06 stop: 30.50

Molex traded in a very narrow range on Friday.  Intraday one
could see there was selling pressure at the $28.50 level 
while the bulls were supporting it (for now) at the $28 area.
Considering that both the major indices were up nicely on
Friday the lack of participation in MOLX should be encouraging
for the bears.  We would expect the stock to rollover again
the next down day we see in the markets.  Cautious traders 
could consider tightening their stops between 29.00 and 30.00
but we have elected to keep ours slightly above $30 until the
next drop in share price.  If you're looking for entry points,
another bounce to 28.50 or even 29.00 might work or the next
time it trades under $28.00.  

Picked on September 26th @ $28.08
Gain since picked:         - 0.03
Earnings Date:              10/18 (not confirmed)





==============
NB Closed Play
==============

  -------------------
  Closed Bearish Play
  -------------------

First Data - FDC - close: 58.26 change: +5.02 stop: 56.00

Ouch!  This train never got a chance to leave the station.
After closing below significant support at $55 on Wednesday
and confirming the move with another drop on Thursday the
technical picture looked bleak for FDC.  Add the terrible 
consumer confidence numbers and voila, we thought this would
have been a real winner.  Volume had been very big the last
few down days so the move down appeared to be confirmed. 
There was no real news on FDC come Friday except for another
brokerage expressing their concerns about the earnings forecast
which should have been in the bears' favor.  The only thing
that might explain the 9.42% gain on Friday was some large
portfolio shuffling by money managers.  Why they had to buy
FDC we don't know.  Yes, the stock is still up for the year
(barely) but it's 3Q performance was horrendous like most of
the market's.  The bear's tried to hold them off at $54.50 
on Friday but by noon the bulls had broken through and the 
rally was non-stop into the close.  If we weren't so shocked by
the unexpected rally we'd expect some profit taking come Monday 
morning.

Picked on September 27th @ $53.24
Gain since picked:         - 2.76
Earnings Date:              10/08 (not confirmed)







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

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

- none -


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

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

Lockheed Martin - LMT - close: 43.75 change: +0.45 stop: 40.00

Defense stocks struggled today, but Lockheed still managed to 
post a 45-cent gain.  It had been up over $1, but weakness in 
Northrop Grumman (NOC) and Alliant Tech Systems (ATK) held back 
Lockheed.  LMT still remains above its 10-day moving average, and 
is poised to fly past resistance at $46.  However, if we see
a broad market dip, traders might consider another bounce at
the $42 level as a potential entry point.  Don't forget to play
with a stop.

Picked on September 27th at $43.30
Gain since picked:           +0.45
Earnings Date                10/25 (unconfirmed)




---

Phillip Morris - MO - close: 48.29 change: -0.71 stop: 45.00

Having finally climbed back to its earlier trading range between
$47 and $49 investors are now looking for MO to do what it has
been unable to do for the last four weeks - breakthrough resistance
at $49.00.  The week from Hell where the Dow lost 15% in five days
is over and has helped establish the $45 level as strong support
for MO.  The 200-dma has helped bolster this support and we saw
a very strong rally on Thursday.  To us, Friday's dip appeared to
be a little bit of profit-taking before the weekend.  Don't forget
that MO is defensive stock and if the street continues to see 
signs of a recession throughout October and November, then money
could flow stronger to stocks like MO.  Traders can look to enter
long on a dip back to $47 or a close over $49.  Cautious investors
might want to consider a higher stop near the $46.50 level but
we are more comfortable giving the equity some room at $45.

Picked on August 30th at $47.94
Gain since picked:        +0.35
Earnings Date            10/17/01 (unconfirmed)




---

Right Mgmt - RMCI - close: 31.05 change: +2.51 stop: 29.25 *new*

There are not many stocks making new 52-week highs in this market
but RMCI is one of them.  Friday saw an 8.79% gain or $2.51 on
extremely heavy volume of 521K shares.  Since PremierInvestor has
picked RMCI on Sept. 20th, the stock is up 6.35 points or over
25%.  The strong rally pushed shares through resistance of 29.50
& 30.00.  Apparently all the recent layoffs have investors convinced
demand will be high for career transition services which RMCI 
provides.  We are moving our stop up to $29.25.  Why are we moving
our stop up so high?  We're concerned that the eight-day rally that
has pushed shares from $22 to $31 or over 40% higher is in desperate
need of a pullback.  We did consider closing the play here and
would encourage traders to consider taking some profits now.  
However, we elected to keep the trade open with a tight stop on the 
odds that the rally will continue on Monday.  Those investors looking 
for a much longer term trade should be aware that if the stock was
to pull back from here we could see a bounce at $28.85 (a 23.6%
retracement), at $28, which looks like price support, at $27.50
(38.2%) or at $26.39 (50%).  The best case scenario would be for 
shares to dip back to $30 to find support but that seems unlikely.

Picked on September 20th at $24.70
Gain since picked:           +6.35
Earnings Date                  N/A




---

Suiza Foods - SZA - close: 63.14 change: -0.71 stop: 62.50 

Experienced investors know that in a recession food stocks are
the ultimate defensive play.  People will still need to eat.  
Money tends to flow into food stocks as investors and money 
managers realize food companies should be the best protected
from a downturn in revenues.  Since the 19th of September, shares
of SZA have been on a hot streak.  The stock has seen seven
straight gains in a row so it was no surprise that SZA dipped
on Friday.  We were surprised that the dip was less than a 
dollar and it failed to hit our stop at 62.50.  Now that the
end of the quarter has passed we could see more profit taking
on Monday.  Be prepared for SZA to sell off a little more if
the markets are down early next week.  If you're looking to
SZA for a slightly longer-term trade then be aware that the 
$60 level should prove to be very strong support for the stock
and a bounce here would make a good entry point to go long.
Currently, the Premier Investor newsletter shows a move of
over six points or over 10% since the play was picked.

Picked on September 19th at $57.01
Gain since picked:           +6.13
Earnings Date                  N/A






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

Kinder Morgan - KMI - close: 49.21 change: +2.07 stop: 51.00

Friday's trading saw a 4.39% gain for shares of KMI in what looks
like a strong oversold bounce and combination with probably
short covering.  The stock had dropped substantially from mid-Sept.
and after bouncing near the $46 level on Thursday needed to see
a relief rally.  The close on Friday was right below the 23.6%
retracement level of the recent plunge in KMI's share price.
Considering that the stock closed right near its high for the day
we could expect some follow through on Monday morning.  If this
is to remain a bearish play we need to see the stock rollover
at the $50 level.  New positions should be entered cautiously 
as you confirm the downward trend of the stock before entering
a bearish play.  If the stock does rollover again on Monday or
Tuesday it is still likely that the bears will be targeting the
mid-January low of $43.

Picked on September 25th @ $50.00
Gain since picked:         + 0.79
Earnings Date:              10/17 (not confirmed)




---

T. Rowe Price Group - TROW - close: 29.30 change: +1.25 stop: 30.50

The immediate future remains bleak for asset managers and shares 
of TROW show it with a painful drop for the month of September.
Recent statistics show evidence that the average fund dropped 
over 20% for the 3Q.  Add to that the increasing outflow from 
funds and TROW will likely produce some awful earnings numbers.
This coming week will be the test for TROW's stock.  We've seen
the huge drop from $38 to $25.70 (with an intraday low of $23.44)
and we've seen the oversold bounce this last week back up to the
$29 - $30 level.  Unfortunately, for TROW shareholders, even with
the broad market rally on Friday the stock could not breakthrough
resistance at $30.  We are looking at two likely scenarios for
next week.  One, the broad market rally continues on Monday and
it gives the bulls enough confidence to push TROW through our stop.
Two, what we expect to happen, is for there to be some profit 
taking on Monday and TROW should rollover from here and begin its
next leg down.  Confirm market and stock direction before initiating
any new plays.  Aggressive players should see that an entry here
with a stop at 30.50 produces a nice risk/reward scenario.

Picked on September 20th @ $27.57
Gain since picked:         - 1.73
Earnings Date:               N/A  (not confirmed)






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

  --------------------
  Closed Bullish Plays
  --------------------

-none-

  --------------------
  Closed Bearish Plays
  --------------------


AmeriCredit Corp. - ACF - close: 31.62 change: +2.38 stop: 31.00

After failing to participate in any sort of rally for the whole
week, pent up pressure was too much and ACF roared out of the 
gate on Friday to enjoy a gain of over 8%.  Fortunately for us,
our stop at $31.00 helped us close the play with a drop of 9 
points or 22.5%.  Keep your eyes on this stock as the market
cap has been cut in half over the last six weeks.  There could
be an oversold rally but there is plenty of resistance overhead.

Picked on September  7th @ $40.00
Gain since picked:         + 9.00
Earnings Date:               N/A  (not confirmed)






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Do not duplicate or redistribute in any form.



PremierInvestor.net Newsletter         Weekend Edition 09-28-2001
                                                   Section 3 of 3
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================
To view this email newsletter in HTML format with imbedded
charts and graphs, click here:
http://www.PremierInvestor.net/htmlemail/3593_3.asp
=================================================================

In section three:

Expected/Likely Split Announcements For The Coming Week 
New Split Candidates: CACI International, Inc. -CACI
Market Watch for Week of October 1st
   - Major Earnings
   - Board of Directors Meetings
   - 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
=================================================
THC            Tenet Healthcare        10/03
ADVP           AdvancePCS              11/01
=================================================

EXPLAINATION:

THC - Tenet Healthcare

Historically, the stock is trading well above prior levels of 
split announcements, which have been in varying ratios of a 2:1,
5:4, 3:2, plus smaller stock dividends; eleven splits in all 
since 1972. There's plenty of cushion right now for a 3:2 
announcement, but with 700 million shares authorized and 326 
million outstanding, the Board may want to increase those 
authorized shares.  An annual meeting for stockholders is coming
up on October 10th, but this issue has not been spelled out in 
the agenda. This leads us to the earnings release scheduled for 
October 3, presenting the earlier possible opportunity to 
announce a 3:2 dividend.

PremierInvestor is not recommending this stock as a "play" at 
this time, but please view the "Current Play List" for the 
possible addition of THC in the near-term future.

chart = 

===  

ADVP - AdvancePCS    52-week range: 28.31 - 76.46

Calling itself "the nation's leading health improvement company"
this current split candidate is a provider of health benefit 
management services to pharmaceutical manufacturers and health 
plan supporters. The stock has performed well even with the 
Nasdaq hitting its worst levels recently. The company also 
confirmed that it is still comfortable with prior Q2 earnings 
estimates and it has not been materially affected by the tragedy 
of 9/11. 

We bring this stock to the attention of split traders due to the 
SEC filing of September 18, which calls forth shareholders to 
vote at the annual meeting of stockholders on November 1, 2001. 
The issue of interest is the proposal to amend the certificate of 
incorporation to increase the number of authorized common stock. 
The number of Class A shares would increase form 86.3 million to 
186.9 million if the motion is approved. There are currently 37.6 
million shares outstanding; therefore, there would be ample 
leeway for a 2-for-1 split after the amendment is passed, should 
it be the Board's intention.  The last split announcement, a 2:1 
in 1999, was at the $40 level.

PremierInvestor is not recommending this stock as a "play" at 
this time, but please view the "Current Play List" for the 
possible addition of ADVP in the near-term future.

chart = 


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

CACI International, Inc. -CACI 

CACI is a provider of information assurance and security software 
to the Department of Defense (60 percent of the company's 
revenue), the U.S. Navy and other government agencies. The 
Company also provides financial management services for major 
civilian and defense programs, but war-simulation software is its 
cornerstone. 

Even prior to the 9/11 attacks, CACI's stock was up 74 percent 
for the year, giving it a market valuation of $453 million. 
Shares were trading at $41 on September 10th and made no 
hesitation in achieving the current 14-point gain. Recent 
contracts include a $20 million GSA schedule to provide financial 
management services to federal agencies (Sept. 5) and more 
recently, a $30 million battlefield simulation deal with the 
Defense Department (Sept 18).

From a split standpoint, CACI hasn't announced anything since 
1986.  The stock was trading at about three bucks a share at that 
point so it's a bit of a wildcard to try and predict an exact 
date for their next announcement.  There are already enough 
authorized shares for the Board to do what they want, so we won't 
be seeing an SEC filing in that regards. Earnings are being 
released on October 18 which could provide a possible trigger, 
but they are also due for an annual meeting of shareholders 
within the next couple of months.  Check the "Current Plays" for 
the possible addition of CACI in the future.

 

See the complete list of split candidates.


==================================================
Market Watch for the week of October 1st
==================================================

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

Symbol  Company              Date         Comment         EPS Est

WWW     Wolverine World Wide Mon, Oct 01  Before the Bell    0.34
CDT     Cable Design Tech    Mon, Oct 01  After the Close    0.10
ARRO    Arrow International  Mon, Oct 01  ----- n/a -----    0.55
WAG     Walgreen             Mon, Oct 01  ----- n/a -----    0.21

ALOG    Analogic             Tue, Oct 02  Before the Bell    0.34
HB      Hillenbrand Ind.     Tue, Oct 02  08:00 am ET        0.65
STZ     Constellation        Tue, Oct 02  ----- n/a -----    0.82
RAD     Rite Aid Corp        Tue, Oct 02  ----- n/a -----   -0.14

THC     Tenet Healthcare     Wed, Oct 03  Before the Bell    0.64
MANU    Manugistics          Wed, Oct 03  After the Close   -0.15
ATYT    ATI Technologies     Wed, Oct 03  ----- n/a -----    0.00
FDO     Family Dollar Store  Wed, Oct 03  ----- n/a -----    0.20
RIMM    Reasearch In Motion  Wed, Oct 03  ----- n/a -----    0.04
RI      Ruby Tuesday         Wed, Oct 03  ----- n/a -----    0.24

AA      ALCOA                Thu, Oct 04  Before the Bell    0.40
NAUT    Nautica Enterprises  Thu, Oct 04  Before the Bell    0.40
SRR     Stride Rite          Thu, Oct 04  Before the Bell    0.16
RPM     RPM                  Thu, Oct 04  After the Close    0.27
MAR     Marriott Intl.       Thu, Oct 04  ----- n/a -----    0.39


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

Upcoming Stock Splits This Week...

Symbol  Company Name          Splits  Payable    Executable
  
CECO    Career Education      2:1     09/28       10/01    
AAON    AAON, Inc.            3:2     09/28       10/01    
CEFT    Concord EFS Inc.      2:1     09/28       10/01    

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

Amongst a barrage of economic releases, the Federal Open Market 
Committee meets on October 2.  Analysts are expecting a 25 basis
point rate cut, the second cut in a period of just three weeks.


Monday
======
Auto Sales             Sep  Forecast:   5.5M   Previous:   5.8M
Truck Sales            Sep  Forecast:   6.7M   Previous:   7.4M
Personal Income        Aug  Forecast:   0.3%   Previous:   0.5%
PCE                    Aug  Forecast:   0.3%   Previous:   0.1%
Construction Spending  Aug  Forecast:  -0.4%   Previous:  -0.1%
NAPM Index             Sep  Forecast:  45.0%   Previous:  47.9%

Tuesday
=======
FOMC Meeting


Wednesday
=========
NAPM Services          Sep  Forecast:  43.8%   Previous:  45.5%


Thursday
========
Initial Claims        9/29  Forecast:    N/A   Previous:   450K
Factory Orders        Aug   Forecast:  -0.5%   Previous:   0.1%
FOMC Minutes          8/21


Friday
======
Nonfarm Payrolls      Sep   Forecast:  -100K   Previous:  -113K
Unemployment Rate     Sep   Forecast:   5.0%   Previous:   4.9%
Hourly Earnings       Sep   Forecast:   0.3%   Previous:   0.3%
Average Workweek      Sep   Forecast:   34.0   Previous:   34.1
Consumer Credit       Aug   Forecast:    N/A   Previous:   0.0B


Week of October 8
====================
Oct 10 Wholesale Inventories
Oct 11 Initial Claims
Oct 11 Export Prices ex-ag
Oct 11 Import Prices ex-oil
Oct 12 PPI
Oct 12 Core PPI
Oct 12 Retail Sales
Oct 12 Retail Sales ex-auto
Oct 12 Mich Sentiment-prel.





==================
  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
VGR       Vector Group Ltd          42.74   +1.24
RMCI      Right Management Cons     31.05   +2.51
RNR       Renaissance Holdings      88.91   +2.41
GLM       Global Marine             14.00   +0.62
THX       Houston Exploration       24.80   +1.79

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

Ticker    Company Name              Close  Change
SAGI      Sage Inc                  15.25  +3.89
SANG      Sangstat Medical          18.43  +1.43
GNTR      Gentner Communication     18.16  +1.51
NVAX      Novavax                   14.10  +1.30
MOGN      Mgi Pharma                13.37  +1.19

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

Ticker    Company Name              Close  Change
VGR       Vector Group Ltd          42.74  +1.24
RMCI      Right Management Cons     31.05  +2.51
ILUM      Illuminent Holdings       38.32  +2.40
HRH       Hilb Rogal & Hamilton     45.61  +2.12
PDX       Pediatrix Medical         40.79  +1.41

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

Ticker    Company Name              Close  Change
SNE       Sony Corp                 33.20   -3.99
CSGS      Csg Systems International 41.00   -1.90
CFR       Cullen Frost Bankers      26.95   -6.45
PBCT      Peoples Bank Bridgept     22.20   -1.13
UVV       Universal Corp            33.37   -5.40

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

Ticker    Company Name              Close  Change
none



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