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Daily Newsletter, Tuesday, 11/27/2001

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PremierInvestor.net Newsletter                Tuesday 11-27-2001
                                                  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:      Down, then up, then down again
Market Sentiment: Confidence slips
Play-of-the-Day:  Entry At The Top (bearish)

-----------------------------------------------------------------
U.S. Market Numbers
-----------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
-----------------------------------------------------------------
       11-27-2001           High     Low    Volume Advance/Decline
DJIA     9872.60 -110.15  9992.72  9831.15  1.3 bln   1396/1724
NASDAQ   1935.82 -  5.27  1965.09  1902.89  2.1 bln   1758/1914
S&P 100   590.83 -  5.41   598.57   586.86   Totals   3154/3638
S&P 500  1149.49 -  7.93  1163.38  1140.81
RUS 2000  460.71 -  0.51   463.25   457.92
DJ TRANS 2509.30 - 16.55  2539.62  2500.64
VIX        25.21 -  0.03    26.35    24.08
VXN        49.27 +  1.05    51.30    48.01
TRIN        1.09
Put/Call Ratio       .74
-----------------------------------------------------------------

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

Down, then up, then down again

Shorter-term traders had to be rather quick at the trigger today 
as the markets whipped around on a roller coaster ride.  The 
trading session started out lower and economic data was about as 
mixed as the trading session.

Existing home sales came in stronger than expected, helped along 
by the lower mortgage interest rates found earlier in November.  
But the positive news there was offset with today's consumer 
confidence numbers that showed the consumer had lost some 
confidence since October, brought on mainly by lack of confidence 
in the job market.  Today's consumer confidence number is based 
mainly on near-term confidence levels in the economy, yet the 
same survey showed that consumers were actually becoming more 
positive 6-months out.  Many feel the longer-term confidence rise 
in today's report is due to the recent rise in stock prices, and 
may not necessarily reflect consumer's views on job prospects 6-
months from now.

As you can tell, today's economic reports didn't really help 
traders make any type of firm decision on near-term stock price 
direction and it certainly showed in trading.

In the first 90-minutes of trading, the Dow Industrials fell 152 
points from yesterday's close, only to rally back into positive 
ground near the 9,992 level (just under psychological resistance 
of 10,000) and then reverse course from there and close down 110 
points at 9,872 in the remaining 90 minutes of trading.  That 
10,000 level certainly looks to be a level where we're going to 
need to see some type of "event" to get through.

In essence... the market is a patient right now with a fragile 
psyche.  It's not just the Dow Industrials either.  Shares of 
Intel (NASDAQ:INTC) were leading the charge higher during the 
bull run from 12:00 to 2:00 PM EST, but came a penny shy of 
trading the $33 level, which would have been a level not seen by 
shares of Intel (INTC) since March of this year.  A trade at $33, 
would have also been enough to get the stock back on a point and 
figure buy signal and break its longer-term downward trend.

Intel Chart - $0.50 and $1 box




On November 16th, in our 01:00 EST Update, we tried to "envision" 
a bearish trade in shares of Intel (NASDAQ:INTC) near $31.  Since 
that time, the point/figure chart has shown an additional "X" as 
price did achieve the $32 level, but that's it.  At today's 
Credit Suisse First Boston Investment Conference, CEO Andy 
Bryant, said he remains comfortable with Q4 guidance and revenue 
estimates of $6.2-$6.8 billion.  That had the stock recovering 
from session lows near $31, but not enough to have demand 
outstripping supply near the $33 level.

The relative strength chart for Intel vs. the S&P 500 continues 
to improve and relative strength is growing.  I get the distinct 
impression that the MARKET likes the stock, but just not willing 
to pay $33 to get it.  Instead, looking for a pullback near the 
$27-$28 range as a better entry point.

Just when shares of Intel (INTC) were trading near the $32.99 
level, chip analyst Dan Niles at Lehman Brothers said he remained 
cautious on shares of Intel as he believes sales thus far in the 
quarter are less important than end-user sales from companies 
such as Dell Computer (NASDAQ:DELL) between Thanksgiving and 
year-end.  Niles said he's prepared to downplay any upside bias 
in those numbers, arguing that Q4 strength in sales would come at 
the expense of Q1 sales.  

This has me wondering who the seller is just under $33.  Any 
guesses?

What's a penny?

It seems so outlandish that a penny could make any type of 
difference in how a trader/investor views a chart or perception 
of a stock.  However, I've actually seen more times than not, 
that a penny makes a big difference in how things pan out.

I think I've told the story of an investment I had made years ago 
in Bay Networks, since bought by Nortel (NYSE:NT).  I had bought 
the stock in clients accounts near $22 and had a stop set on the 
positions at $20.99.  After establishing the position, I sat 
there one day, with head in hands as the market and the stock 
were under selling pressure.  I kid you not... the stock traded 
$20.00 then a bid appeared for 100,000 at $20.01.  3-months 
later, clients were dumping the stock at $39, just under our 
bullish price objective of $40.  I'll remember that penny for the 
rest of my life.

Medtronic Chart - $1 box




Today's trade at $44.99 looks as suspicious as Intel's trade at 
$32.99.  With the 200-day moving average just above at $44.09, a 
break above that key longer-term moving average and breaking of 
bearish resistance could have bulls running the stock higher.  
I'll be keeping an eye on shares of Medtronic (NYSE:MDT) rather 
closely the next couple of weeks.  Earnings came in line with 
expectations tonight at $0.29 and revenues matched estimates 
precisely at $1.571 billion.  Institutions are most likely going 
to be pleased with the past guidance the company has given 
regarding earnings and revenues.  At the time of this writing, 
the company had not given forward guidance on what lies ahead.

As for now, the technicals in the above chart are still rather 
bearish.  The stock looks shortable with a stop at $46, but I'm 
hesitant to short the stock as earnings/revenue guidance has been 
consistent and rather reliable and there is comparable year-over-
year growth present in the fundamentals.  Analysts may like the 
rather "predictable" or "reliable" guidance and willing to 
support the stock on any type of pullback.  Relative strength is 
also very close to reversing back higher.

Relative Strength Chart of MDT vs. S&P 500




The relative strength chart remains bearish, but very close to 
reversing back into a column of X's.  A trade at $46 will have 
shares of MDT above the 200-day MA and also giving a double-top 
buy signal and breaking above bearish resistance.  We won't know 
for sure if a trade at $46 will have the relative strength chart 
turning back into a column of X's, as we will have to measure 
against the S&P 500 and what it is trading at should such events 
unfold.  However, earnings are out of the way and it's a stock 
with earnings where there is some growth in both top and bottom 
line fundamentals that's worth keeping an eye on.

What is it about "$XX.99 cents?"




PremierInvestor.net first profiled shares of SBA Communications 
(NASDAQ:SBAC) as bullish on November 16th at $10.66 in the "High 
Risk/High Reward" section of the site.  Today, we moved shares of 
SBAC to the "Play of the Day" section as bullishness looked to be 
building.  It sure looks like you could almost consider the 
decline from $34 to $6.25 as "the pied", then dissect that pie 
with retracement.  But holy cow!  Even that retracement (blue) 
doesn't give you too many levels to help control your risk.

But a "nested retracement" using the recent relative high, to the 
recent relative low (red retracement) sure gives hint that this 
is exactly what market makers have done and shows us the levels 
they're most likely trading.

Based on "blue" retracement at 19.1%, market makers may have 
begun trying to get their inventories back to a more neutral 
bias, as risk soon became the 38.2% level at $16.80.

That 19.1% retracement at $11.52 from the "blue" bracket also 
correlates nicely with the 50% retracement level from our nested 
"red" bracket at $11.49.  Yesterday's close at $11.70 most likely 
left the stock with a bullish bias short-term to $12.73 and that 
may continue to be the case up into the $14.73-$16.73 range.

For a short-term trader, today's 11.02% gain is pay dirt, let 
alone those more aggressive bulls that took the play early last 
week.  Today's close at $12.99 hints of a seller around the $13 
level, but its worth a trailing stop to see if some broader 
market bullishness might not lift the stock higher still, but I 
think we'll need to see broader market bullishness for that to 
happen.

For lower priced stocks like SBAC that have declined like they 
have in recent month and a retracement bracket from a wide range 
leaves you with levels that are just too far apart for proper 
risk management, try the "nested" retracement bracket like that 
above.  All we're doing is taking a bigger pie, identifying a 
slice (smaller range) and establishing some more manageable 
levels to help better assess risk/reward and get a feel for where 
the near-term buy/sell pressure most likely exists.

Jeff Bailey
Senior Market Technician


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

Confidence slips
by Russ Moore

Confidence slips, and so do the markets. A decline in the 
consumer confidence index created some nervousness on Wall 
Street, and downside pressure on stocks.

The DOW was under the gun early on however, the blue chip index 
staged an early afternoon rally and actually stuck its’ head into 
positive territory for a few minutes before heading lower. The 
DOW closed with a loss of -1.1 percent.

Tech stocks enjoyed a lengthy ride in positive territory thanks 
to a bullish comment attributed to Intel. The chip company 
announced at a CSFB tech conference that it was becoming more 
comfortable with its fourth quarter outlook. The upside ride was 
halted with about an hour left in the session leaving the index 
with a fractional loss of -0.3 percent. The NDX slipped -0.6 
percent.

Volume was solid with 1.28 billion shares trading on the big 
board and 2.13 billion shares moving on the tech index. Losers 
nosed out winners by a 17/14 margin on the NYSE and a 19/18 count 
on the NASDAQ.

Oil service, natural gas, gold, and chip sectors were all higher 
on the session.

The consumer confidence index fell to 82.2 from October’s 85.3, 
much lower that the 86.1 expected. Among lower-income survey 
participants, the confidence number was at 52.0.

The gloomy confidence number was partially offset by a rise in 
existing home sales. Sales were up 5.5 percent to 5.17 million, 
far better than the 4.90 million level that had been expected.

We mentioned yesterday that the 200DMA’s on the major indices 
should provide a major test for the bulls, and if broken, may 
create a sense of urgency amongst the bears. The NASDAQ attempted 
to get over that hurdle today but was turned away. Rest assured, 
these levels are being monitored closely by a large number of 
sideline watchers.


VIX 
Tuesday 11/27 close: 25.24


VXN
Tuesday 11/27 close: 48.22


30-yr Bonds
Tuesday 11/27 close: 5.37


Total Put/Call Ratio: .74


Equity Option Put/Call Ratio: .66


Index Option Put/Call Ratio:  1.40


===

NASDAQ 100 Index (NDX/QQQ)
52-Week High: 103.51
52-Week Low:   28.19
Current close: 40.20

Volume/Open Interest
Maximum calls: 40/149,587
Maximum puts : 40/ 86,305

Moving Averages
 10 DMA 39
 20 DMA 38
 50 DMA 34
200 DMA 41

Fibanocci Retracements
Relative High: 51.95 (05/22/01)
Relative Low:  27.00 (09/21/01)
38% 36.60
50% 39.57
62% 42.59

===

S&P 100 Index (OEX)
52-Week High:  834.93
52-Week Low:   491.70
Current close: 590.83

Volume/Open Interest
Maximum calls: 600/4,114
Maximum puts : 500/6,678
Moving Averages
 10 DMA  590
 20 DMA  578
 50 DMA  556
200 DMA  608

Fibanocci Retracements
Relative High: 680.03 (05/22/01)
Relative Low:  480.07 (09/21/01)
38% 556.14
50% 579.65
62% 603.55

===

S&P 500 (SPX)
52-Week High:  1530.01
52-Week Low:    965.80
Current close: 1149.50

Volume / Open Interest
Maximum calls: 1150/36,167
Maximum puts : 1050/43,169

Moving Averages
 10 DMA 1144
 20 DMA 1121
 50 DMA 1083
200 DMA 1181

Fibanocci Retracements
Relative High: 1315.93 (05/22/01)
Relative Low:   944.75 (09/21/01)
38% 1086.75
50% 1130.62
62% 1175.23

==

DJIA (INDU)
52-Week High:  11,518.83
52-Week Low:    8,235.81
Current close:  9,872.60

Volume / Open Interest
Maximum Calls: 98/25,220
Maximum Puts   90/51,632

Moving Averages:
 10 DMA  9,884
 20 DMA  9,648
 50 DMA  9,289
200 DMA 10,173

Fibanocci Retracements
Relative High: 11,350.05 (05/22/01)
Relative Low    8,062.34 (05/21/01)
38%  9,308.92
50%  9,693.99
62% 10,085.60

==

Biotech Index (BTK)
52-Week High:  811.61
52-Week Low:   383.28
Current close: 613.89

Volume / Open Interest
Maximum Calls: 580/  791
Maximum Puts:  470/1,135

Moving Averages
 10 DMA 594
 20 DMA 577
 50 DMA 517
200 DMA 536

Fibanocci Retracements
Relative High: 811.61 (09/25/00)
Relative Low:  383.28 (03/22/01)
38% 546.22
50% 596.57
62% 646.71

==

Semiconductor Index (SOX)
52-Week High: 1280.84
52-Week Low:   362.00
Current close: 536.60

Volume / Open Interest
Maximum Calls: 520/ 752
Maximum Puts:  470/1583

Moving Averages
 10 DMA 524
 20 DMA 508
 50 DMA 455
200 DMA 564

Fibanocci Retracements
Relative High: 710.78 (05/22/01)
Relative Low:  343.93 (09/27/01)
38% 484.50
50% 527.18
62% 570.57

==

Pharmaceutical Index (DRG)
52-Week High:  455.28
52-Week Low:   339.49
Current close: 399.69

Volume / Open Interest
Maximum Calls: 420/406
Maximum Puts:  360/320

Moving Averages
 10 DMA 396
 20 DMA 393
 50 DMA 390
200 DMA 392

Fibanocci Retracements
Relative High: 448.43 (12/29/00)
Relative Low:  339.49 (03/22/01)
38% 382.22
50% 395.69
62% 409.03

*****

CBOT Commitment Of Traders Report: Monday, 11/26. 
Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts on the 
Chicago Board Of Trade. 

Small specs are the general trading public with commercials being 
financial institutions. Commercials are historically on the 
correct side of future trend changes while small specs are not. 
Extreme divergence between each signals a possible market turn in 
favor of the commercial trader’s direction.   

S&P 500
Commercials   Long      Short      Net     %Change 
11/06/01     376,807   416,063   (39,256)    8.2%
11/13/01     381,539   421,284   (39,745)    1.2%
11/20/01     369,784   415,822   (46,038)   13.6%

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      %Change
11/06/01       132,106    81,208    50,898    (2.7%)
11/13/01       136,047    87,645    48,402    (4.9%)
11/20/01       140,507    86,861    53,646     9.8%

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

NASDAQ-100
Commercials   Long      Short      Net     %Change 
11/06/01      39,410    47,890    (8,480)  (37.0%)
11/13/01      38,751    49,257   (10,506)   23.9%
11/20/01      38,042    46,446    (8,404)  (20.0%)

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      %Change
11/06/01       11,406     8,143    3,263     (47.7%)
11/13/01       11,568     6,505    5,063      55.1%
11/20/01       12,933     8,230    4,703      (7.1%)

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
Commercials   Long      Short      Net     %Change 
11/06/01      25,977    11,951   14,026      5.4%
11/13/01      24,145    10,204   13,941     (0.6%)
11/20/01      25,033    11,525   13,508     (3.1%)

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      %Change
11/06/01       3,569    12,281    (8,712)     25.2%
11/13/01       4,094    12,121    (8,027)     (7.8%)
11/20/01       3,609    10,565    (6,956)    (13.3%)
 
Most bearish reading of the year:  (7,572) - 5/08/01
Most bullish reading of the year:   1,909  - 1/16/01


                    Small Specs               Commercials
S&P 500         (Current)  (Previous)     (Current) (Previous)
Open Interest
Net Value        +53,646     +48,402        -46,038     -39,745

Total Open
Interest %       (+23.59%)  (+21.64%)      (-5.86%)   (-4.95%)
                 net-long   net-long       net-short  net-short


                     Small Specs             Commercials
DJIA futures     (Current) (Previous)    (Current) (Previous)
Open Interest
Net Value          -6,956     -8,027          +13,508    13,941
Total Open
interest %       (-49.07%)    (-49.50%)      (+36.94%)  (+40.59)
                 net-short   net-short     net-long    net-long


                     Small Spec              Commercials
NASDAQ 100      (Current) (Previous)    (Current) (Previous)
Open Interest
Net Value         +4,703      +5,063         -8,404    -10,506

Total Open
Interest %        (+22.22%)   (+28.01%)     (-9.95%) (-11.94%)
                 net-long   net-long      net-short net-short


What COT Data Tells Us
----------------------
Indices:.Commercial players finally moved off of their four-week 
holding period as they added to their net-short positions. The 
increase was limited to less than a percentage point; 
nonetheless, it does show that the Commercials have not yet moved 
in to a full-blown accumulation phase (bullish) and would appear 
to be playing a cautious hand.

Gold: November has not been kind to the XAU (gold and silver 
index), however, Commercial players have reduced their net-short 
contracts to near flat and that could signal a bounce in gold is 
around the corner.

10/23 25,191 contracts net-short
10/30 33,199 contracts net-short
11/06 35,435 contracts net-short
11/13 23,637 contracts net-short
11/20  2,489 contracts net-short

Data compiled as of Tuesday 11/20 by the CFTC.



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

Intrado Inc - TRDO - close: 26.85 change: -0.75 stop: 28.61

Company Description
Founded in 1979, Intrado Inc. is pioneering the technology of 
Informed Response(TM) by providing telecommunications companies 
and public safety organizations with accurate, efficiently-
delivered, mission-critical information -- enabling them to 
respond effectively, anywhere and anytime, regardless of 
location, device or protocol.  The company's unparalleled 
industry knowledge in data management, network transactions, and 
notification technology reduces the effort, cost, time and 
complexity associated with providing reliable communications 
information for 9-1-1, safety and commercial applications. 
(source: company press release)

- ORIGINAL WRITE UP, Nov. 23rd, 2001 -

Why We Like It:
You've probably heard the phrase; "The trend is your friend".  
For TRDO, the new trend is down.  Previously named SCC 
Communications, the stock seemed to have a volatile year through 
the summer months with wide swings both up and down forming a 
very wide channel.  Shares fell with the rest of the market in 
September but even the late September moves were pretty violent.  
October started to soften things out as the broader market ran 
higher.  However, about mid-October TRDO ran out of gas and the 
MACD has been negative ever since.  It probably had something to 
do with its 3Q loss widening despite an 80% increase in revenues.  
TRDO is now trading in a wide descending channel and four days 
ago it ran into resistance near the top of that channel.  Three 
days ago it fell below its 50-dma and now it appears to be 
picking up a little speed.  There is probably round number price 
support at $25 but the bottom of the channel should be between 
$22.50 and $20.00.  We're going to target $22.50 and if shares 
trade there intraday we'll close the play for a gain.  To start 
the play we'll put our stop just over Tuesday's high at 28.61.  
Once TRDO begins to confirm the move down we'll snug our stop 
tighter as it progresses.  As long as the stock remains under its 
50-dma we should do okay.

- POD UPDATE, Nov. 26th, 2001 -

Our new bearish play is slowly creeping lower.  The short-term 
trend of lower highs and lower lows is setting up for a breakdown 
below the $26 level.  If this occurs we would expect TRDO to 
trade to $25 and $24 in the couple of days following.  We're 
still aiming for the $22.50 level and we're encouraged by the 
higher volume on today's decline.  If you're looking for new 
positions we would consider anything under $28.00 to $27.50 worth 
evaluating and more conservative traders might be able to get 
away with a stop just north of $28.  The newsletter will leave 
its stop at 28.61 for now.  Confirm stock and market direction 
before playing.

Picked on November 23rd at $27.23 
Gain since picked:          +0.38
Earnings Date               10/25 (confirmed)









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Do not duplicate or redistribute in any form.



PremierInvestor.net Newsletter                 Tuesday 11-27-2001
                                                   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/7659_2.asp
=================================================================

In section two:

Net Bulls
  Bullish Play Updates: CBR
  Bearish Play Updates: RLRN, WWCA
  Closed Bullish Plays: NOK

Stock Bottom / Active Trader
  New Bearish Plays:    LFG
  Bullish Play Updates: GE
  Bearish Play Updates: PB

High Risk / High Reward
  New Bearish Plays:    VSNX
  Bullish Play Updates: AKLM, SBAC, TMPW
  Bearish Play Updates: TRDO

Split Trader
   - none -

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

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

Ciber Inc - CBR - close: 7.74 change: +0.21 stop: 7.51 *new*

The broader markets are beginning to look pretty tired and 
everyone is talking about a pull back to consolidate the market's 
gains.  This may be true for the DJIA and the NASDAQ but CBR put 
in another strong day.  Actually, CBR's strength was not without 
some volatility.  The stock dipped to 7.21 midday before trading 
up towards 7.80.  We still hold to the idea that CBR can trade to 
$8.50 but given the current market environment, after the recent 
negative economic reports, we are going to put an exit price of 
$8.00 on CBR.  Thus, if CBR trades to $8.00 intraday, Premier 
will close the play at $8.00.  To protect a portion of our gains 
we will raise the stop to $7.51.  This will allow for a 5% gain 
in the stock price.  We were reluctant to make this decision 
because it looks like we'll get stopped out tomorrow morning 
before CBR can get the chance to aim for $8.00.  However, a 5% 
gain is better than being stopped out at breakeven or a small 
loss.  In the news, a press release reported that CBR had teamed 
up with the Insurance Federation of Pennsylvania for the City of 
Philadelphia in some sort of auto accident database.  Currently, 
Premier is up over 8% in CBR.

Picked on November 23rd at $ 7.15 
Gain since picked:          +0.59
Earnings Date               10/29 (confirmed)





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

Renaissance Learnings - RLRN  cls: 25.75 chg: +0.65 stop: 26.51*new*

We would be cautious on this bearish play for RLRN.  The stock is 
slowly grinding higher after its breakdown last week.  Monday's 
move was non-existent but Tuesday's bounce higher has us on 
alert.  We have lowered our stop to $26.51, which is near the 
high back on Nov. 20th.  If the $26.00 - $26.50 level can hold as 
resistance we'll probably be okay.  At the moment we would only 
feel comfortable starting new short positions if RLRN trades back 
under the $25 mark.  

Picked on November 23rd at $25.16 
Gain since picked:          -0.59
Earnings Date               10/15 (confirmed)




---

Western Wireless - WWCA - cls: 24.90 chg: -0.26 stop: 25.88 *new*

Our patience with WWCA appears to be paying off.  The stock fell 
quickly at the open again and spent the rest of the day 
consolidating sideways under the $25 mark.  Tuesday's close 
allows for a $1.50 gain and a 5.6% move in the play since we 
picked it on Nov. 9th.  Very conservative traders could consider 
a new stop just over $25.20 but any bounce tomorrow would surely 
trigger your stop.  We are going to move our stop down from 
Monday's stop of $26.01 to a new stop at $25.88 or Monday's high.  
The fact that shares closed under $25 and the last two days of 
declines have been made on greater than average volume is 
encouraging for our bearish target near $20.  There has be no 
news  stories for WWCA lately.

Picked on November 9th at $26.40 
Gain since picked:         +1.50
Earnings Date              11/07 (confirmed)






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

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

Nokia Corp - NOK - close: $23.72 change: -1.52 stop: 23.25  

We knew that the annual analyst conference for NOK could 
introduce some volatility into the stock and a glance at the 
intraday chart shows that traders were unsure which direction to 
take it.  NOK announced that they expected to sell 380M handsets, 
which is down from the previous estimates of 390M that had 
previously been lowered from 405M.  Despite this negative news, 
NOK painted a brighter picture for 2002 with a stronger second 
half.  Unfortunately, it appears that investors chose to focus on 
the more negative 2001 numbers versus the NOK management's 
guidance of 15% growth for 2002.  The stock gapped down at the 
open to $23.90 and traded below its 15-dma to 23.19 which stopped 
us out at 23.25.  Midday the shares bounce higher but selling 
resumed towards the close.  The current bullish trend is still 
intact as long as NOK does not close below its 15-dma (currently 
at 23.50).  We would also keep an eye on its 200-dma resting near 
23.23.

Picked on November 21st at $23.00 
Gain since picked:          +0.25
Earnings Date               10/19 (confirmed)





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

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

  -----------------
  New Bearish Plays
  -----------------

Landamerica Finl Group - LFG - cls: 23.74 chg: -1.01 stop: 25.01

Company Description
LandAmerica Financial Group, Inc. is a leading provider of title 
insurance and a broad range of real estate-related services. 
LandAmerica, through its subsidiaries Commonwealth Land Title 
Insurance Company, Lawyers Title Insurance Corporation and 
Transnation Title Insurance Company, services its residential and 
commercial customers with more than 600 offices throughout the 
United States, Canada, Mexico, the Caribbean, Central and South 
America. (source: company press release)

Why We Like It:
The last several sessions has shown the S&P Insurance sector to 
be struggling with resistance at 720.  That was until today.  The 
IUX.X rebounded off its 15-dma on Friday and since then has 
broken upward to trade right to 730, its 200-dma.  In contrast, 
LFG has been bouncing along support at $25.00 and failed at its 
10-dma on Monday while also breaking down below serious support 
at $25.  Tuesday's drop confirmed the new trend and we think it 
qualifies as a short-term bearish play.  We glanced at the point-
and-figure chart only to find the stock in a terrible down trend 
with a current bearish price objective of $14.00.  We are not 
aiming quite that low.  Actually, this is should be a very quick 
bearish play to capitalize on the breakdown before the stock 
bounces back which it has a habit of doing.  We'll start the play 
with a stop at 25.01, which is a little bit wider than we would 
prefer.  Our target is $20.00.  Furthermore, if LFG trades to 
$20.00 intraday we'll close the play.  Aggressive traders can 
look for a bounce and failed rally back up to $25.00 as a 
potential entry point.  The rest of us should confirm the stock's 
position below $24.00.  If don't realize our goal in two or three 
days we'll probably drop the stock and move on.  Keep one eye on 
the insurance index as well.  Even though LFG appears to be 
ignoring in the strength in the sector, any strong moves higher 
in the group could make our bearish play more risky.

Picked on November 27th at $23.74 
Gain since picked:          +0.00
Earnings Date               10/24 (confirmed)





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

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

General Electric - GE - close: 41.07 change: -0.25 stop: 39.90 

There isn't much new to report on GE.  The stock continues to 
trade sideways with overhead resistance at $41.80.  Considering 
the triple digit loss in the DJIA today shares of GE held up 
pretty well.  If you're willing to admit a bullish bias then the 
30 minute chart with the 15-dma on it could paint a potentially 
bullish break upward in a couple of days.  But this bias needs to 
be supported by higher lows so watch GE to hold the $40.50 level.  
If it doesn't we would probably turn neutral or even bearish as 
the stock will start to look more and more tired.  

Picked on November 8th at $40.10
Gain since picked:         +0.97
Earnings Date              10/24 (confirmed)





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

Panamerican Bev Inc - PB - close: 14.49 change: -0.01 stop: 15.11

So far so good.  Bearish traders enjoyed a follow through move 
from Friday's close under $15.00 to Monday's low of $14.00.  The 
stock bounced back to $14.50 by the closing bell.  On Tuesday, 
bears were probably hoping for another move down with the decline 
in the Dow, and PB fulfilled their request early on but again 
bounced back to the $14.50 area.  With a lack of news on the 
stock we decided to look at another stock in this group, CCE.  
CCE fell 2.79% today and close below its 200-dma.  The bad news 
was its bounce off its 50-dma.  The prevailing short-term trend 
for both stocks is now negative but shorts are going to be 
looking for a close under $14.00 for PB.  The good news on PB was 
its close under $14.50.  Confirm market direction before you 
start any new plays.  Remember that we're looking for an exit at 
$13.25 but if shares can't break $14 we may adjust our exit later 
in the week.  We will leave ours top at $15.11 from Monday's 
newsletter.

Picked on November 23rd at $14.95 
Gain since picked:          +0.46
Earnings Date               10/30 (confirmed)






==================================================================
High Risk / High Reward (HR) section
==================================================================

============
HR New Plays
============

  -----------------
  New Bearish Plays
  -----------------

Visionics Corp - VSNX - close: 11.95 change: -0.30 stop: 12.56

Company Description
Visionics Corporation is the worldwide leader in identification 
technologies and systems. The Company is uniquely positioned with 
a comprehensive set of biometric identification product 
offerings: FaceIt®, live scan, IBIS and BNP. The award-winning 
core FaceIt® technology enables a broad range of products and 
applications built by partners (OEMs, VARs and system 
integrators). These include enhanced CCTV systems, identity fraud 
applications and identity verification systems for physical and 
network security, travel and banking. The TENPRINTER and 
FingerPrinter CMS live scan systems are the most widely used by 
government agencies, law enforcement, airports, banks and other 
commercial institutions in the US. IBIS is a revolutionary mobile 
identification system capable of capturing both forensic quality 
fingerprints and photographs for transmission and wireless 
transmitting the data to law enforcement and other legacy 
databases for real-time identification. Finally, the BNP is the 
only commercially available platform for delivering scalable 
biometric solutions. It incorporates FaceIt® technology for 
implementation over large-scale networks and real-time 
identification. The product offerings are reflective of 
Visionics' leadership position in the biometric industry and 
commitment to the innovation of identification technologies.  
(source: company press release)

Why We Like It:
There is no doubt that the 9-11 attacks and the new interest in 
airport security will drum up new business for VSNX.  However, if 
we interpret investor sentiment as described by its price action, 
it looks like that interest in its products may take some time to 
turn into sales and that makes the stock still prone to more 
profit taking from its panic-induced run up.  We highlighted VSNX 
on the PremierInvestor.net Watch List over the weekend.  The 
stock attempted another rally bouncing off support on Monday but 
failed at its 10-dma (again).  Today's move put the stock below 
crucial support at $12.00.  Traders can see from the Nov. 19th 
low that there is some support at $11.00.  However, the current 
trend is very negative and we feel VSNX could trade to $10.  
We'll start the play with a stop at its 10-dma of 12.56.  
However, more conservative traders could try and sneak by with a 
stop over today's high.  Aggressive traders can look for entry 
points below the 10-dma but the rest of us should probably 
confirm the stock's position below $12 before initiating a 
position.  We placed VSNX on the high risk/high reward section 
because shares are currently trading near its long-term bullish 
support line on its point-and-figure chart.  Plus, the stock has 
achieved its initial bearish price target but that doesn't mean 
it couldn't fall further.  

Picked on November 27th at $11.95 
Gain since picked:          +0.00
Earnings Date               11/14 (confirmed)






===============
HR Play Updates
===============

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

Acclaim Entertainment - AKLM - close: 5.93 change: -0.03 stop: 5.49

Bullish traders who are looking for an entry point should keep 
their eyes focused on AKLM.  The stock has produced a soft pull 
back so far and only lost three cents in Tuesday's dip.  If the 
Nasdaq pulls back to 1900 or the GSO.X software index pulls back 
to 170 then AKLM could dip to $5.75 to $5.60.  These levels could 
offer a premium entry point to go long with a lower exposure 
considering our current stop.  The trick would be to look for a 
potential bounce up in these areas.  A more conservative trader 
who prefers to see the breakout can wait for shares to close back 
above $6.00 or more specifically the $6.15 level.  

Picked on November 23rd at $ 6.00 
Gain since picked:          -0.03
Earnings Date               10/24 (confirmed)




---

SBA Communications - SBAC - cls: 12.99 chg: +1.29 stop: 12.49*new*

If you're looking for strength in a down market then SBAC has 
delivered.  Shares broke out above the $12 level around 10:20 AM 
ET this morning and didn't look back.  The 11% move today puts 
Premier at +$2.33 or +21.8% since we picked it on Nov. 16th.  
Those traders who took advantage of the dip last week have an 
even better move.  There was nothing in the news that could have 
fueled today's rise.  It looks like potential short covering.  
Mr. Bailey and I were discussing this play tonight and he was 
estimating that if SBAC follows through on the breakout tomorrow 
it could trade to $14.25 to $14.50.  This may be so but I'm 
sticking to our exit point of $13.90, which is 10 cents below the 
$14 resistance level SBAC had back in late August and most of 
September.  We've raised our stop to $12.49 to protect the lion's 
share of our current gains (or about 17%). 

Picked on November 16th at $10.66 
Gain since picked:          +2.33
Earnings Date               11/13 (confirmed)




---

TMP Worldwide - TMPW - close: 42.01 change: -1.99 stop: 39.95

There is always somebody willing to rain on your parade.  
Robertson Stephens downgraded TMPW this morning from a "buy" to a 
"market perform".  Stephens' analyst claims that TMPW is fairly 
valued and weak hiring and recruitment trends will pressure 
revenues.  After TMPW's 8% gain yesterday we expected a little 
pull back but the downgrade had shares gapping lower.  
Fortunately, the stock found some support at $40.50 and traded 
higher off its lows.  Shares could pull back to $40 if the tech 
sector dips again on Wednesday.  If TMPW bounces at $40 we'd 
consider new long positions, especially considering our current 
stop.  Confirm stock and market direction before committing new 
capital.  Premier is currently up 5.9% or 2.37 points.

Picked on November 21st at $39.64 
Gain since picked:          +2.37
Earnings Date               11/15 (confirmed)





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

Intrado Inc - TRDO - close: 26.85 change: -0.75 stop: 28.61

Our new bearish play is slowly creeping lower.  The short-term 
trend of lower highs and lower lows is setting up for a breakdown 
below the $26 level.  If this occurs we would expect TRDO to 
trade to $25 and $24 in the couple of days following.  We're 
still aiming for the $22.50 level and we're encouraged by the 
higher volume on today's decline.  If you're looking for new 
positions we would consider anything under $28.00 to $27.50 worth 
evaluating and more conservative traders might be able to get 
away with a stop just north of $28.  The newsletter will leave 
its stop at 28.61 for now.  Confirm stock and market direction 
before playing.

Picked on November 23rd at $27.23 
Gain since picked:          +0.38
Earnings Date               10/25 (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 

HI      Household Intl. Inc.       60.76     +0.58
CVC     Cablevision Systems        41.70     +1.40
SV      Stilwell Financial Inc     24.68     +0.57
UDS     Ultramar Diamond Shamrock  49.15     +0.65
AVX     Avx Corp                   20.80     +0.95

--------------------------------------- 
Breakout to Upside (Stocks $5 to $20) 
--------------------------------------- 
Ticker  Company Name               Close     Change 

TMCS    Ticketmaster Online        16.96     +1.26
CKFR    Checkfree Corp             17.15     +1.93
RHAT    Red Hat Inc                 7.62     +1.61
INFA    Informatica Corp           13.57     +1.22
NSIT    Insight Enterprises Inc    19.98     +1.28

--------------------------------------- 
Breakout to Upside (Stocks over $20) 
--------------------------------------- 
Ticker  Company Name               Close     Change 

AMAT    Applied Materials Inc      41.97     +1.91
VRTS    Veritas Software Corp      41.70     +2.11
JBL     Jabil Circuit Inc          27.78     +1.08
SFA     Scientific-Atlanta Inc     27.53     +1.86
SCI     Sci Systems Inc            27.21     +1.11
CEPH    Cephalon Inc               70.62     +1.52

----------------------------------------- 
Breakout to Downside (Stocks over $20) 
------------------------------------------- 
Ticker  Company Name               Close     Change 

HD      Home Depot Inc             43.35     -2.17
LH      Laboratory Corp            77.40     -3.50
TOY     Toys R Us Inc              21.76     -1.02
STE     Steris Corp                20.98     -1.52
JBX     Jack In The Box Inc        26.83     -1.13


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

HD      Home Depot                43.35     -2.17
EL      Estee Lauder Cos.         33.25     -0.13
CPO     Corn Products Intl        31.53     -0.96
USFC    US Freightways Corp       34.37     -0.69



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