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Daily Newsletter, Friday, 02/01/2002

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PremierInvestor.net Newsletter          Weekend Edition 02-01-2002
                                                    section 1 of 3
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In section one:

Market Wrap:      OK, then short!
Play-of-the-Day:  One Stock At A Time.
Watch List:       AAPL, ADPT, AHC, BBI, IMMU, LUME, ROAI & more!
Market Sentiment: A little profit taking.

------------------------------------------------------------------
U.S. Market Numbers
------------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
------------------------------------------------------------------
         WE 2-1          WE 1-25          WE 1-18          WE 1-11
DOW     9907.26 + 67.18  9840.08 + 68.23  9771.85 -215.68  -272.21
Nasdaq  1911.24 - 26.46  1937.70 +  7.36  1930.34 - 92.12  - 36.92
S&P-100  569.35 -  5.79   575.14 -   .10   575.24 -  8.96  - 14.41
S&P-500 1122.20 - 11.08  1133.28 +  5.70  1127.58 - 18.02  - 26.91
W5000  10490.17 - 86.35 10576.52 + 67.16 10509.36 -188.86  -234.10
RUT      480.04 +   .69   479.35 +  4.98   474.37 - 15.57  -  9.36
TRAN    2759.33 - 20.59  2779.92 +112.67  2667.25 - 39.52  -123.43
VIX       22.87 +   .94    21.93 -  2.41    24.34 +   .36  +  1.96
VXN       43.08 -  2.59    45.67 -  3.22    48.89 +   .52  +  1.51
TRIN       1.44              .82             1.13             1.44  
TICK       +652             +885             +522             +290 
Put/Call    .67              .68              .85              .68  
------------------------------------------------------------------
WE= week ended

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

OK, then short!

So they didn't cover.  On Wednesday I had it all laid out.  
Qualcomm (NASDAQ:QCOM) gave us the "inside day" setup and I was 
looking for shorts to cover on a break above the $44.75 level.  
By yesterday's close, shares of QCOM still were trading in a 
tight range and gave us another "inside day" trade setup.  I was 
still thinking that shorts would cover on a break above $44.75.  
No go.  Today shares of QCOM broke the "inside day," but the 
trigger was to the downside.

Qualcomm Incorporated Chart - Daily Interval




Bears don't seem to be too eager to cover and bulls don't look 
like they're chomping at the bit to buy the stock either.  Since 
bulls couldn't muster enough enthusiasm to lift the stock above 
the $44.75 level, then it makes sense to play with the team that 
looks to be winning and that's "the bears."  Until QCOM can prove 
some type of bullishness, I've got to be bearish on the stock.  
Short-term traders can play short now, stop at $44.75 (it didn't 
trade that when I wanted to, so it shouldn't trade it if the 
stocks headed lower) and targeting the $38.50 level at a minimum.  
If some of the bearish action that we've seen take place in the 
telecom sector and wireless sectors continue, the bears may even 
find the stock at new 52-week lows.

Nextel subsidiary misses interest payment

After tonight's market close (Friday) wireless services provider 
Nextel (NASDAQ:NXTL) said its subsidiary NII Holdings announced 
in an 8-K filing that it did not make a $41 million interest 
payment on its debt.  NII operates primarily in Latin America and 
has been in trouble since December 31, when Argentine operating 
units failed to make a bank payment.  NII's debt obligations are 
solely its own and Nextel (NXTL) said it is not a party to these 
obligations.  Shares of NXTL finished Friday's session at $7.85 
and were trading down 5.2% in after hours trading at $7.44.

Concern for telecom, especially wireless

As I review last Friday's market wrap and comments regarding 
"networking will most likely lag a tech rally," I begin to ask 
myself "what rally?"  I'll get more specific and wonder just what 
telecom company is going to spend a dime when there stock prices 
are headed in the tank.  They can't possibly be spending money on 
infrastructure when what they have in place isn't being used.  At 
least not to the extent that the coffers are overflowing and 
earnings are flowing to the bottom line.

WorldCom Chart - Daily Interval




Stories/rumors that WorldCom's (WCOM) CEO Bernard Ebbers may be 
getting a margin call (not the first margin call he's had to 
meet) sent shares of WCOM to lows not seen since 1995.  The 
"margin call story" surfaced on Wednesday after the stock had 
fallen near the $10 level after telecom service provider Global 
Crossing (GX) announced it would seek bankruptcy protection.  As 
if the Global Crossing bankruptcy wasn't bad enough, yesterday's 
announcement by local telephone company McLeodUSA Inc. 
(NASDAQ:MCLD) filing for Chapter 11 bankruptcy added further 
doubt to any hopes of a telecom turnaround.

Weekly Action




Last week's gains for tech were erased for the most part and 
trading remains choppy.  The Semiconductor Index (SOX.X) is the 
only technology group now showing a gain since the end of 2001 
and one has to wonder if this group can continue to buck the 
weaker technology trend.  In last Friday's wrap, I discussed 
shares of PMC Sierra (NASDAQ:PMCS) and thoughts that market 
makers may have a "sell side" bias in that stock near the $24.44 
level.  While the stock did decline 3.4% to $23.31 this week, 
it's going to take some sector weakness for the stock to fall 
back to the $18.87 level we felt where market makers might then 
have a "buy side" bias.

Some of the "front line" sectors that we monitor for signs of 
economic strength traded relatively well this week considering 
the broader market action.  The transports as depicted by the Dow 
Transportation Average (TRAN) slipped fractionally this week, but 
were able to hold onto the bulk of last week's 4.2% gain.  The 
natural gas stocks gave back last weeks gains, while the oil and 
oil service sectors edged marginally higher.  The deep cyclical 
forest/paper stocks also edged ever so slightly higher, after 
last weeks gain of 8%, but were unable to break that downward 
trend dating back to May of 1999 (see last Friday's market wrap).

Banking stocks gave back all of their previous weeks gains and 
subscribers may have noted our bearish play in Citigroup (NYSE:C) 
to the play list this week.  With the Fed looking like it will 
take a wait and see approach to further interest rate cuts there 
doesn't appear to be a catalyst for banking stock bullishness.  
In my commentary last week, I felt the bullishness we saw in 
banking stocks was a good sign for the broader market, but this 
week's bankruptcy news form Global Crossing (GX) and McLeodUSA 
(MCLD) will most likely weigh on investor psychology toward some 
of the bigger banks.  While these two bankruptcies aren't 
necessarily "market moving" revelations, it plants the seed for 
the thought that there may be other casualties still to come.

Gold stocks and other metals producing stocks were this week's 
equity gainers.  We mentioned this week's bullish rise in the 
copper futures market and several stocks in the group do mine 
copper in addition to gold and silver.  I'm still leaning toward 
the longer-term economic growth case from these stocks, but think 
the bullishness may be a little overdone near-term.  I've read 
articles that the Japanese are "hording" gold, thus creating 
demand for the underlying commodity, but I have also read 
articles that copper inventories are starting to level out and 
prices in the futures market are rising due to speculation of 
near-term supply shortages.

The world's second-largest copper producer Phelps Dodge (NYSE:PD) 
jumped 7.7% from Wednesday's close.  That move came in spite of 
the company releasing earnings Wednesday that showed a loss for 
its 4th quarter of $1.01 per share ($79.2 million) and a full 
fiscal year loss of $3.79 per share ($297.5 million).  One item I 
did see in the company's earnings announcement was a program 
called "Quest for Zero", which is the company's "comprehensive, 
lean-production program" that was designed to deliver $400 
million of annual operating income improvements by the end of 
2003.  So far, the program has achieved $55 million in 
improvements since the program was implemented in May of 2001.  
This weeks 5% rise in copper prices from $0.70 a pound to $0.736 
a pound had bulls active in the stock.  This week's break above 
the longer-term 200-day moving average for copper prices also got 
the attention of longer-term bulls in the copper group.

There wasn't a rush to Treasury bonds this past week, but we did 
see some buying as investors digested economic data that showed 
signs indicative of a slow economic recovery and very little sign 
of inflation risk.  Today's unemployment data had the 
unemployment rate slipping to 5.6%, which was slightly better 
than economists had expected.  The ISM factory index's rise to 
49.9 showed continued improvement from December's reading of 
48.2, but fell just shy of the 50 mark.  The 49.9 number is at 
its highest mark in about 18 months.  A reading over 50 indicates 
expansion in economic activity, while a reading below 50 
signifies contractions.  As close as 49.9 is to 50, it seemed to 
be just shy enough to keep most equity bulls on the sidelines 
today.

The week ahead

As redundant as it may sound, the broader market looks range 
bound.  As I see it, the S&P 500 looks to have support at the 
$1,084 level and near-term resistance at the rounding 50-day 
moving average of $1,140.  That's a $56 point range and rather 
tight one at that.

To break this range in the S&P 500 we'll have to look for some 
type of surprise in the economic data.  On Tuesday, the market 
will get a look at December factory orders.  Economists are 
expecting a 1.1% gain, which would be "robust" compared to a 
previously reported 3.3% decline.  Also due out is the ISM non-
manufacturing numbers for January.  Market consensus is for a 
January number near 51.8%, which would be a decline from 
December's reading of 52.2%.

On Wednesday, some economists feel that the productivity numbers 
should be closely monitored.  Economists are looking for a fairly 
robust 3% rise in productivity for the 4th quarter.  That's a 
substantial gain compared to the 3rd quarter rise of 1.5%.  Some 
feel a higher productivity number lays the groundwork longer-term 
toward growth, profitability and inflation.  Economists feel that 
Wednesday's productivity number (4th quarter) will put into 
perspective the yearly productivity numbers for 2001.  If 4th 
quarter productivity comes in at 2.9% or higher, then 
productivity growth for 2001 would be 1.5%.  Economists see that 
as "remarkable" considering the economy was in a recession.  
Gains in productivity also help put the Fed at ease and less 
concerned about inflation, thus not as eager to lean toward any 
type of near-term tightening of interest rates.

Earning's

There are still a lot of earning's scheduled for next week.  
Telecom traders/investors will be monitoring Monday's after the 
close earnings from Sprint (NYSE:FON) where analysts are looking 
for earnings of $0.31 a share.  Sprint PCS (NYSE:PCS) is expected 
to report a loss of $-0.31.  How's that for a quick look at the 
difference between land based and wireless telecom earnings?

Healthcare traders will be monitoring earnings from Oxford Health 
(NYSE:OHP) with analysts looking for earnings of $0.78 a share 
and HCA Healthcare (NYSE:HCA) with estimates at $0.42.

Technology bulls will have their fingers crossed Wednesday 
evening as networking giant Cisco Systems (NASDAQ:CSCO) is 
expected to show earnings of $0.05 a share.  I don't look for any 
type of surprise here, but forward guidance during the company's 
post-market conference call may set the tone for tech into the 
end of the week.  

Cisco Systems Chart - Daily Interval




It sure looks like Cisco (CSCO) is going to be stuck between the 
$18 and $20 level into earnings.  A very short-term bullish break 
could come above the $20 level and have the stock making a move 
toward $22, but that seems to be a level where sellers trade out 
of the stock and wait for the pullback closer to $18.  This 
stock's about as "neutral" as you can get.  In the January 4th 
wrap 
http://www.PremierInvestor.net/markets/marketwrap/010402_1.asp we 
thought CSCO might "dilly dally" between $19.20 and $22 and that 
a moves from $19-$22 could be traded.  I said I'd be bullish on 
CSCO above it's 200-day and the stock has stayed there.  Cisco's 
price action will be a market mover, but it has to break that $22 
level with some conviction to spark a broader technology move.  
Any faltering below the $17.68 level could have a key tech player 
inflicting heavy damage on a technology-lover's taste buds.

Jeff Bailey
Senior Market Technician


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

Network Associates - NETA - cls: 30.26 chg: +0.27 stop: 27.49

Company Description:
With headquarters in Santa Clara, Calif., Network Associates, 
Inc. is a leading supplier of security and availability solutions 
for e-businesses. Network Associates is comprised of three 
product groups: McAfee, delivering world class anti-virus and 
security products; Sniffer, a leader in network availability and 
system security; and Magic Solutions, providing web-based service 
desk solutions. (source: company press release)

Why We Like It:
Right now, if you ask you local investor what they think of tech 
stocks they might say "dangerous", "oversold", "depressed" or any 
number of derogatory or less than attractive adjectives.  This is 
not without good cause but that doesn't mean there aren't a few 
tech stocks still climbing the charts.  One such stock is NETA.  
Shares have been on a powerful bull trend since October.  Aside 
from some volatility that is partly due to a stock price decline 
in their majority owned subsidiary Mcafee (MCAF) in January, 
shares have been pretty steady.  We like the recent bullish wedge 
it has been forming with lower highs as it marched back to 
resistance at $30.  Now the stock has closed over this resistance 
and the MACD has just produced a new bullish crossover.  This is 
one software stock that is probably making gains due to their 
strong business and positive outlook for the coming quarters.  We 
are still concerned that a big drop in MSFT or ORCL, two of the 
biggest components in the GSO.X software index, might weigh 
heavily on NETA but until that occurs we're going to play the 
trend.  Traders should note that NETA has announced it will be 
moving to the NYSE stock exchange on Feb. 12th but we have not 
yet been given the new stock symbol.  If you know it, feel free 
to shoot us an email.  We plan to initiate the play with a stop 
at $27.49.  

Picked on February 1st at $30.26
Change since picked:       +0.00
Earnings Date           01/17/02 (confirmed)






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

The PremierInvestor.net watch list is not designed to be read
as full fledged stock picks.  Rather we would prefer to offer
it as an extra tool in today's investor toolbox.  Think of it
as a radar screen with your own radar operator pointing out
interesting developments, technical patterns or potential plays
that you may or may not have seen on your own.  Due to time
constraints we do glance at the news but rarely do we have 
time to fully read pertinent news stories, due background 
research and other necessary screens that investors should do
before making a decision.  A common exercise is to read the
entry, glance at the sector and other stocks in that industry
and then compare what's happening in the stock to what's 
happening in the broader market indices.  We hope you enjoy
the Watch List and that it proves to be a useful tool for your
own trading success.

STOCKS WORTH WATCHING
---------------------------------

Apple Computer, Inc - AAPL - close: 24.41 change: -0.31

WHAT TO WATCH: One tech stock and a hardware stock at that which 
seems to be doing well is AAPL.  Shares have recently broken out 
above resistance at the $24 level and have managed to hold on to 
it despite weakness in the markets on Friday.  We would actually 
consider AAPL a possible long play with a tight stop.  Where you 
put your stop is up to you but $23.75 to $22.99 sound like 
possible options based on your risk tolerance.  Trading $25.00 
would be a triple top breakout on the p-n-f chart.




---

Adaptec, Inc - ADPT - close: 18.04 change: +0.29

WHAT TO WATCH: The disk drive index has really been under 
pressure lately and looks like it could break down under the 100 
level any day.  Running higher in contrast to the index is ADPT.  
They don't actually make disk drives but the chips and network 
cards that help connect the drives to the rest of the hardware.  
The stock has been trading in a bullish pattern these last two 
weeks and is about to break over early January resistance.




---

Amerada Hess - AHC - close: 62.60 change: +1.24

WHAT TO WATCH: A two-day rally in the price of oil has really 
helped a similar two-day run up in AHC.  The stock is about to 
breakout over late-December resistance at $63.50.  MACD is 
curving higher and volume has been picking up.  This may be one 
to watch for a move up near $70.00.  




---

Blockbuster Inc - BBI - close: 20.09 change: +0.59

WHAT TO WATCH: We strongly considered adding BBI as a long play 
this weekend.  We really liked the recent strength at the $19.00 
level and think the stock could be ready for a rebound.  We 
confirmed this against the p-n-f chart that shows the bullish 
support line is at $18.00.  The move over $20.00 on Friday was 
encouraging and its MACD has just produced a bullish crossover.  
BBI does have its 200-dma looming over it at 21.31 but we think a 
stop just under $19 might work for a possible move to $22.50 to 
$24.00.  Earnings are expected on February 12th, 2002.




---

Immunomedics - IMMU - close: 15.47 change: +0.26

WHAT TO WATCH: IMMU is another biotech stock we have been 
watching and has similar characteristics to our new high-
risk/reward play on INCY.  Shares have really retreated back to 
old support levels and its bullish support on the point-and-
figure chart is at $13.50.  Yet buyers seem to be stepping in 
above $14.  The company just announced earnings on Friday during 
the market and while we haven't read the report shares didn't 
crash.  MACD is about to produce a bullish crossover and we'd 
watch this one for a move higher.  Consider a close over $16 as a 
possible entry point for a long play with a stop under 
Wednesday's low.




---

Lumenis Ltd - LUME - close: 17.95 change: +0.05

WHAT TO WATCH: A quick glance at the chart for LUME and you'll 
the stock's rolling performance over the last few months.  The 
recent pull back has come right back to the bottom of the trading 
channel and may be an attractive entry point.  One item traders 
need to consider is the earnings report that came out early this 
week.  We haven't checked the report but it may have been the 
cause of the most recent sell-off.  A move back over $18 or $19 
might be a possible signal to consider a long play with the top 
of the channel near $23 to $24.




---

Radio One, Inc - ROIA - close: 18.15 change: +0.52

WHAT TO WATCH: ROIA looks pretty attractive as a long play 
because it appears the recent consolidation is over and the stock 
is ready for its next leg higher.  The last couple of weeks have 
seen ROIA hover around its 200-dma but the close back over $18 is 
encouraging.  We would consider it a long play candidate with a 
short-term target of $20.  Earnings are expected later in the 
month of February.




---

Valspar Corp - VAL - close: 42.26 change: +0.35

WHAT TO WATCH: VAL is another stock that has been building on a 
bullish wedge-shaped pattern.  The range has been from $38 to $42 
and shares just broke out over the $42 level.  MACD is ready to 
curve higher again and the company is expected to announce 
earnings near the 11th of February.  They produce paints and 
coating substances.  We would consider them a short-term long 
play candidate with a relatively tight stop.




---

CIENA Corp - CIEN - close: 12.00 change: -0.70

WHAT TO WATCH: We came very close to adding CIEN as a bearish 
short play on the newsletter this weekend.  The Friday breakdown 
below both the $13.00 and $12.50 support levels is very negative.  
The whole industry is in a down turn and no one knows when it 
will turn around.  We could easily see the stock drop to $10.




---

IONA Technologies - IONA - close: 19.99 change: -0.40

WHAT TO WATCH: This software company's stock has been under 
selling pressure for most of January after an early month rally 
higher.  Now shares have slipped back to the $20 support level.  
We would strongly consider this a short play but would probably 
use a trigger, say around $19.49, as a signal to go short.  
Should see support at $17.50 and again at $15.00.




---

Cerner Corp - CERN - close: 47.33 change: -1.07

WHAT TO WATCH: The networking sector has not been very strong 
lately and shares of CERN show it with a multi-month decline from 
its highs back in October.  We would strongly consider it a 
bearish play candidate but would use a trigger at $46.99 as a 
signal to evaluate an entry point.  If the breakdown occurs under 
the $47 support level we wouldn't be surprised to see it fall to 
$40 (or even $37.50).  You'll want to watch for CSCO's earnings 
this week as the announcement will lead the networking industry 
up or down.







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

A little profit taking.
by Russ Moore

After two days of gains, investors were ready to take some money 
off the table. The DOW ended the week with a drop of -0.2 percent 
while the NASDAQ lost -1.2 percent and the NDX -1.4 percent. 

Volume was moderate with 1.37 billion shares moving on the big 
board and 1.70 billion on the NASDAQ. Decliners held the edge 
with a 17/14 victory on the NYSE and 20/15 margin on the tech 
index.

Networker and Internet sectors led the decline in a generally 
weak tech performance. Gold was the big winner on the broader 
markets while biotech and oil provided solid support.

Early economic news contained some mixed messages beginning with 
non-farm payrolls falling -89,000 versus the -27,000 expected 
however, the unemployment rate moved to 5.6 percent, far better 
than the 5.9 percent forecast. 

The ISM moved to 49.9, its highest level in a year a half 
although technically still in a contraction phase.

The final piece of news came from the University of Michigan’s 
consumer sentiment number. The index rose to 93.0 in January from 
December’s 88.8.

Taking a look behind the sentiment data, we see that consumers 
remain uninspired over their current conditions but very hopeful 
looking forward. "Although consumers’ evaluations of their 
current finances are at a 10-yr low, they judged their financial 
prospects near the highest levels ever recorded" said Richard 
Curtin, director of the University’s research center.

The data shows current conditions fell to 95.7 in January from 
99.00 in December. The expectation component increased from 82.3 
in December to 91.3 in January.

The data would seem to confirm the fact that consumers have 
bought in to the widely promoted "second-half recovery" scenario. 
This rosy outlook will mean absolutely nothing unless the 
corporate heads develop the same level of enthusiasm. 

Volatility levels barely budged today and still warn of 
significant risk for near-term long players.


VIX
Friday 02/01 close: 22.92


VXN
Friday 02/01 close: 43.08


30-yr Bonds
Friday 02/01 close: 5.40


Total Put/Call Ratio: .75


Equity Option Put/Call Ratio: .60


Index Option Put/Call Ratio: 2.21


===

NASDAQ 100 Index (NDX/QQQ)
52-Week High: 103.51
52-Week Low:   28.19
Current close: 38.14

Volume/Open Interest
Maximum calls: 40/50,949
Maximum puts : 37/59,786

Moving Averages
 10 DMA 38
 20 DMA 39
 50 DMA 39
200 DMA 40

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: 569.34

Volume/Open Interest
Maximum calls: 580/7,046
Maximum puts : 520/9,282

Moving Averages
 10 DMA  570
 20 DMA  579
 50 DMA  583
200 DMA  599

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: 1122.20

Volume / Open Interest
Maximum calls: 1150/26,488
Maximum puts : 1100/28,710
Moving Averages
 10 DMA 1124
 20 DMA 1137
 50 DMA 1142
200 DMA 1165

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:  9,907.26

Volume / Open Interest
Maximum Calls:  98/12,022
Maximum Puts    90/17,090

Moving Averages:
 10 DMA  9,792
 20 DMA  9,903
 50 DMA  9,936
200 DMA 10,104

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: 509.86

Volume / Open Interest
Maximum Calls: 520/304
Maximum Puts:  520/531

Moving Averages
 10 DMA 516
 20 DMA 533
 50 DMA 566
200 DMA 546

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: 552.87

Volume / Open Interest
Maximum Calls: 570/970
Maximum Puts:  540/499

Moving Averages
 10 DMA 534
 20 DMA 551
 50 DMA 544
200 DMA 554

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: 377.40

Volume / Open Interest
Maximum Calls: 390/690
Maximum Puts:  380/825

Moving Averages
 10 DMA 376
 20 DMA 376
 50 DMA 384
200 DMA 390

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: Friday, 02/01. 
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 
01/15/02     340,005   397,024   (57,019)  (11.7%)
01/22/02     342,841   394,041   (51,700)   (9.3%)
01/29/02     345,583   401,923   (56,340)    9.0%

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
01/15/02       129,987    64,311    65,676    (5.5%)
01/22/02       125,451    65,423    60,028    (8.6%)
01/29/02       128,826    63,127    63,127     5.1%

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 
01/15/02      32,068    34,859    (2,791)    (58.1%)
01/22/02      30,671    34,103    (3,432)     23.0%
01/29/02      31,577    33,651    (2,974)    (13.3%)

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
01/15/02       10,230     9,782      448    (87.8%)
01/22/02       11,885     8,787    3,098  
01/29/02        9,709     8,293    1,416    (54.2%)

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 
01/15/02      15,866     9,175    6,691    (15.7%)
01/22/02      18,152    11,013    7,139      6.6%
01/29/02      19,956    12,171    7,785      9.0%

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
01/15/02       4,979     8,747    (3,768)    (21.6%)
01/22/02       5,424     8,969    (3,545)     (5.9%)
01/29/02       5,872     9,709    (3,837)     11.1%
 
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        +65,699     +60,028        -56,340    -51,700

Total Open
Interest %       (+34.23%)  (+31.45%)      (-7.54%)   (-6.95%)
                 net-long   net-long       net-short  net-short


                     Small Specs             Commercials
DJIA futures     (Current) (Previous)    (Current) (Previous)
Open Interest
Net Value          -3,837     -3,545          +7,785    +7,139
Total Open
interest %       (-24.63%)    (-24.63%)      (+24.23%)  (+24.48)
                 net-short   net-short     net-long    net-long


                     Small Spec              Commercials
NASDAQ 100      (Current) (Previous)    (Current) (Previous)
Open Interest
Net Value         +1,416      +3,098         -2,074    -3,432

Total Open
Interest %        (+7.86%)   (+14.99%)     (-3.18%) (-5.30%)
                 net-long   net-long      net-short  net-short


What COT Data Tells Us
----------------------
Indices:.On a percentage basis we saw little change in the S&P 
Commercial activity. The Commericals have been fluctuating 
between 4 and 9 percent net-short for months, while the Small 
Specs float between 28 and 38 percent net-long. .

Gold: The gold index (XAU) continued its bullish move this week 
closing at 62.80. We did see the Commercials unload 40 percent of 
their short contracts while still remaining in a net-short 
position.

01/01 14,555 contracts net-short
01/08 24,042 contracts net-short
01/15 53,938 contracts net-short
01/22 50,959 contracts net-short
01/29 31,515 contracts net-short

Data compiled as of Tuesday 01/29 by the CFTC.




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only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

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PremierInvestor.net Newsletter          Weekend Edition 02-01-2002
                                                    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
=================================================================
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charts and graphs, click here:
http://www.PremierInvestor.net/htmlemail/3545_2.asp
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In section two:

Net Bulls
  New Bullish Plays:     NETA
  Bullish Play Updates:  COGN

Stock Bottom / Active Trader
  New Bullish Plays:     HRB
  Bullish Play Updates:  CHS, FDX, PBY, TGH, UNH
  Bearish Play Updates:  C, SIVB
  Closed Bullish Plays:  QMDC

High Risk/Reward
  New Bullish Plays:     INCY
  New Bearish Plays:     QCOM
  Closed Bullish Plays:  QCOM

Split Trader
  - none -


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

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

  -----------------
  New Bullish Plays
  -----------------

Network Associates - NETA - cls: 30.26 chg: +0.27 stop: 27.49

Company Description:
With headquarters in Santa Clara, Calif., Network Associates, 
Inc. is a leading supplier of security and availability solutions 
for e-businesses. Network Associates is comprised of three 
product groups: McAfee, delivering world class anti-virus and 
security products; Sniffer, a leader in network availability and 
system security; and Magic Solutions, providing web-based service 
desk solutions. (source: company press release)

Why We Like It:
Right now, if you ask you local investor what they think of tech 
stocks they might say "dangerous", "oversold", "depressed" or any 
number of derogatory or less than attractive adjectives.  This is 
not without good cause but that doesn't mean there aren't a few 
tech stocks still climbing the charts.  One such stock is NETA.  
Shares have been on a powerful bull trend since October.  Aside 
from some volatility that is partly due to a stock price decline 
in their majority owned subsidiary Mcafee (MCAF) in January, 
shares have been pretty steady.  We like the recent bullish wedge 
it has been forming with lower highs as it marched back to 
resistance at $30.  Now the stock has closed over this resistance 
and the MACD has just produced a new bullish crossover.  This is 
one software stock that is probably making gains due to their 
strong business and positive outlook for the coming quarters.  We 
are still concerned that a big drop in MSFT or ORCL, two of the 
biggest components in the GSO.X software index, might weigh 
heavily on NETA but until that occurs we're going to play the 
trend.  Traders should note that NETA has announced it will be 
moving to the NYSE stock exchange on Feb. 12th but we have not 
yet been given the new stock symbol.  If you know it, feel free 
to shoot us an email.  We plan to initiate the play with a stop 
at $27.49.  

Picked on February 1st at $30.26
Change since picked:       +0.00
Earnings Date           01/17/02 (confirmed)






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

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

Cognos Inc. - COGN - close: 27.26 change: +0.90 stop: 25.47*new*

Our bullish software play is quickly approaching new 52-week 
highs despite a strong lack of leadership in the sector.  Both 
MSFT and ORCL are rangebound or worse and the GSO.X isn't looking 
that strong either.  This should be a cautionary note for 
investors.  You want to focus from market to sector to stock in 
that order.  Fortunately, despite the weakness, or lack of 
strength in software and the Nasdaq shares of COGN have rallied 
anyway.  The $27.00 was/is resistance but shares broke through 
this level in Friday's session and more importantly they closed 
above it.  The MACD is very encouraging and should produce a 
bullish crossover shortly.  The $27 and the $26 levels should now 
act as support and we are moving our stop up to breakeven at 
$25.47.  We would confirm stock direction versus the broader 
market before initiating any new positions.  A good upside target 
would be the $30 level.  We are considering making $29.50 an 
official exit point but will wait to see what Monday/Tuesday 
brings.  The newsletter is currently up about 7% in COGN.

Picked on January 25th at $25.47
Gain since picked:         +1.79
Earnings Date           04/10/02 (unconfirmed)






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

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

  -----------------
  New Bullish Plays
  -----------------

H R Block - HRB - close: 46.26 chg: +0.00 stop: 44.25

Company Description:
H&R Block Inc. is a diversified company with subsidiaries 
providing a wide range of financial products and services. In 
2001, H&R Block served 19.2 million taxpayers -- more than any 
tax or accounting firm -- through its more than 10,400 offices 
located in the United States, Canada, Australia and the United 
Kingdom. H&R Block served another 2.3 million tax clients through 
its award-winning TaxCut® software program and through its online 
tax preparation services. (source: company press release)

Why We Like It:
With tax season upon us, people will be drawn to the numerous H R 
Block offices around the country.  With that in mind, investors 
and analysts a like will also focus on the stock as earnings 
approach at the end of February.  Shares have already been a big 
winner over the last twelve months and have already rebounded 
from the severe bought of profit taking that occurred in October.  
More recently the stock has been consolidating after its recent 
rally from the $41 area.  We feel that HRB might continue to make 
a run into its earnings report.  However, we're going to make it 
prove itself one more time.  We won't go long until the stock 
trades at $47.01.  If for some unknown reason shares gap higher 
we'll put a cap at $47.25 (so if shares gap higher than $47.25 we 
won't enter the play).  If the play does trigger then we'll start 
with a stop under Wednesday's low at $44.25.  More aggressive 
traders not willing to wait for the trigger to occur may lok for 
dips to $45.00 as potential entries.  If you're watching the game 
this weekend then you'll probably see HRB's first ever Superbowl 
commercial.  Let's hope it is a wise use of $2 million.

Picked on February 1st at $XX.XX  <-- see notes above
Change since picked:       +0.00
Earnings Date           02/27/02 (unconfirmed)






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

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

Chico's F A S Inc - CHS - cls: 29.40 chg: -0.55 stop: 27.45*new*

After a volatile week, investors seemed more excited about a lack 
of "surprises" on Friday and many took profits heading into the 
weekend.  Why not?  With the Superbowl on Sunday, traders will 
probably be thinking football not stocks.  The profit-taking 
pulled the relatively strong retail sector down on Friday but 
nothing we would be too concerned about.  Big league players like 
WMT pulled back from resistance at $60 and TGT fell back under 
the $44 level.  Likewise, more specific clothing retailers like 
ANF, ANN and AEOS also closed lower on the day.  Chico's seemed 
to be holding its own until the last hour brought renewed selling 
pressure that brought it under its 5-dma.  This might be the 
beginning of a one to two day pull back in the retail sector and 
we would be looking for CHS to dip to the $28.50 - $29.00 level.  
A bounce here might be a good entry point for bulls.  However, as 
a precaution we are upping our stop to $27.45 in an effort to 
reduce our exposure should shares fail to actually bounce.  This 
is where we would urge patience and wait for the bounce to 
develop.

Picked on January 25th at $29.55 
Gain since picked:         -0.15
Earnings Date           03/05/02 (unconfirmed)




---

Fedex Corp - FDX - close: 53.55 change: +0.00 stop: 51.89*new*

Another sector that seemed to take the day off was the 
Transports.  The Dow Jones Transports fell back from resistance 
but not enough to have us thinking it is a failed rally.  Shares 
of FDX merely traded sideways on the day while rivals UPS fell 1% 
and Airborne gained six cents.  One thing that sends up a yellow 
flag for us was the move in oil back over the $20 a barrel.  It 
was not a huge move but we have taken notice.  To be on the safe 
side we are going to raise our stop to $51.89, which is several 
cents below the low near $52 this week.  If FDX trades to $55.00 
we'll close the play.

Picked on January 18th at $50.82 
Gain since picked:         +2.73
Earnings Date           03/20/02 (unconfirmed)




---

Pep Boys Man Moe - PBY - close: 16.04 change: -0.41 stop: 15.35

We have to say we're a bit disappointed in PBY.  After the nice 
breakout higher above the $16.00 level on Thursday, the stock 
gave most of it back during Friday's session.  It would appear 
that Manny, Moe & Jack are letting the O'Reilly family (ORLY) out 
perform them when it comes to stock gains this week.  We're 
encouraged that the stock managed to close above $16.00 but it 
needs to stay there.  After this long, if it falls under $16, we 
wouldn't take new positions.  Traders may want to keep an eye on 
BWA.  While not actually in the auto-service industry, Borg-
Warner does announce earnings on Monday and a strong announcement 
might lift the sector.

Picked on January 18th at $16.00 
Gain since picked:         +0.04
Earnings Date           02/14/02 (unconfirmed)




---

Trigon Healthcare - TGH - cls: 73.61 chg: +0.08 stop: 69.99 

We see nothing new to report on for Trigon Healthcare after 
Thursday's update.  The stock traded in a relatively narrow range 
on Friday and remains above what should be support at the $72 
level.  However, if you'd prefer to buy on a dip, if shares do 
dip to $71.50 it might be an attractive entry point as the 20-dma 
seems to be where bulls step in to protect the stock lately.  
Traders will want to keep an eye on Oxford Health (OHP) who 
announces earnings on Tuesday.  A good or bad report from them 
could affect the whole sector.  Don't forget that TGH's CFO, Tom 
Byrd, is expected to speak on Monday at 1:30 p.m. at the UBS 
Warburg Annual Healthcare Conference.

Picked on January 11th at $71.42 
Gain since picked:         +2.19
Earnings Date           02/08/02 (confirmed)




---

UnitedHealth Group - UNH - cls: 74.97 chg: +0.62 stop: 71.75*new*

Shares of UNH edged higher to yet another gain on Friday but 
stopped short of conquering the $75 resistance level.  Like the 
TGH play above, little has changed from our perspective on 
Thursday.  Anything Trigon's CFO has to say at the conference on 
Monday might filter to UNH if he has strong enough or negative 
enough comments about the industry as a whole.  Likewise, the OHP 
earnings report on Tuesday could affect investor interest in UNH.  
We wouldn't be surprised to see a pull back in UNH to the $73 or 
$74 level.  However, shares have been very strong the last couple 
of days and we are going to raise our stop to breakeven at 
$71.75.

Picked on January 11th at $71.75 
Gain since picked:         +3.22
Earnings Date           01/24/02 (confirmed)






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

Citigroup Inc - C - close: 46.49 change: -0.91 stop: 49.25

It looks like we did get that failed rally at the $48 level we 
discussed for shares of C.  Additionally, both the BIX.X and the 
BKX.X turned lower on Friday which isn't surprising when you look 
at most of the major banks that also traded lower heading into 
the weekend.  The December low was near $46 for Citigroup.  
Therefore, if C continues to slip lower, the breakdown below this 
level will be another confirmation for the bears.  More 
conservative traders may want to consider lowering their stops to 
just above the $48 level, which should act as new overhead 
resistance.  

Picked on January 29th at $46.71
Gain since picked:         +0.22
Earnings Date           01/17/02 (confirmed)


 

---

Silicon Valley - SIVB - cls: 23.05 chg: +0.03 stop: 24.01 

Unfortunately, we have nothing new to report for SIVB.  The stock 
traded in a 40-cent range on Friday.  Selling kept the stock 
below $23.40 but it was nothing to write home about.  A look at 
the intraday chart did show a rise in volume right at the close.  
This must have been sellers as the stock started dropping and was 
saved by the ending bell.  We're still waiting for a breakdown 
under the $22 level.

Picked on January 18th at $22.93
Gain since picked:         -0.12
Earnings Date           01/16/02 (confirmed)


 



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

  -------------------
  Closed Bullish Play
  -------------------

QuadraMed Corp. - QMDC - close: 9.80 change: -0.66 stop: 9.98

We hate it when that happens.  Thursday's newsletter shared our 
concerns that QMDC was not participating in the recent market 
bounce from earlier weakness.  Thus we were cautious on the stock 
and recommended tighter stops for conservative traders.  Sure 
enough, on Friday shares of QMDC went into a day-long dive that 
culminated in a close below the $10 level and on higher volume.  
There was no news we could discover that might have fueled the 
drop and the close under $10 is very bearish.  We would expect 
shares to consolidate down to the $9.00 level near its 50-dma.  
With the over all lack of leadership in the software sector 
traders may want to sit back and see how far QMDC might fall now 
that bulls have fumbled the play.

Picked on January 25th at $10.33 
Gain since picked:         -0.35
Earnings Date           02/28/02 (confirmed)







==================================================================
HIGH RISK/HIGH REWARD (HR) section
==================================================================

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

  -----------------
  New Bullish Plays
  -----------------

Incyte Genomics Inc - INCY - cls: 14.95 chg: +0.20 stop: 14.49

Company Description:
Incyte Genomics, Inc. has developed the leading integrated 
platform of genomic technologies designed to aid in the 
understanding of the molecular basis of disease. Incyte develops 
and markets genomic databases and partnership programs, related 
reagents and services. These products, programs and services 
assist pharmaceutical and biotechnology researchers with all 
phases of drug discovery and development including gene 
discovery, understanding disease pathways, identifying new 
disease targets and the discovery and correlation of gene 
sequence variation to disease. In addition, Incyte has the 
largest portfolio of issued United States patents covering human 
full-length genes and the proteins they encode and is leveraging 
its intellectual property position to be a leader in therapeutic 
discoveries. (source: company press release)

Why We Like It:
One sector that has gone down the drain this year (2002) is the 
biotech industry.  The sell-off started the last day of December 
and its been a painful decline since.  Wednesday revealed the 
BTK.X bouncing off the 480 level and Friday leaves us with a 
small 10 point rally to 509.  The trend is still down but with so 
many biotech stocks nearing long-term support levels as evidenced 
on their point-and-figure charts we think the downtrend may be 
near an end or at least ready for an oversold bounce.  One such 
stock is INCY.  Incyte has fallen from the $20 level to bounce on 
Wednesday at an intraday low of 13.65.  We're being optimistic 
but the stock might be ready for a turnaround.  One of the big 
reasons we're considering INCY as a bullish high-risk/reward play 
is its p-n-f chart.  Shares have dropped right to is ascending 
bullish support line between $14.00 and $14.50.  Aggressive 
traders may be willing to see this as an entry point with a stop 
under Wednesday's low.  However, while we're playing this in the 
aggressive section of the newsletter we're going to try and 
mitigate our exposure and also force INCY to prove itself by 
trading through a trigger point.  We won't "go long" INCY until 
the stock trades at $15.65.  If for some reason shares gap higher 
than our trigger we won't open the play if its higher than 
$16.00.  When/if the play is triggered then we will initiate with 
a stop loss at $14.49.  Earnings are coming up in February but 
the date is not confirmed.  Right now we would expect INCY to 
report sometime near the 12th or 13th of Feb.

Picked on February 1st at $xx.xx <-- see text above
Change since picked:       +0.00
Earnings Date           02/12/02 (unconfirmed)






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

QUALCOMM - QCOM - close: 42.46 change: -1.59 stop: 44.75

Company Description:
QUALCOMM Incorporated is a leader in developing and delivering 
innovative digital wireless communications products and services 
based on the Company's CDMA digital technology. The Company's 
business areas include CDMA chipsets and system software; 
technology licensing; the Binary Runtime Environment for Wireless
(TM) (BREW(TM)) applications platform; QChat push-to-talk 
technology; Eudora® e-mail software; digital cinema systems; and 
satellite-based systems including portions of the Globalstar(TM) 
system and wireless fleet management systems, OmniTRACS® and 
OmniExpress®. QUALCOMM owns patents that are essential to all of 
the CDMA wireless telecommunications standards that have been 
adopted or proposed for adoption by standards-setting bodies 
worldwide. QUALCOMM has licensed its essential CDMA patent 
portfolio to more than 100 telecommunications equipment 
manufacturers worldwide. (source: company press release)

Why We Like It:
As true traders, we don't care what direction a stock moves as 
long as it moves.  Earlier this week we tried a long play on QCOM 
as we prematurely bet on an upside move from an inside day on 
Wednesday.  When the upside breakout and ensuing short-covering 
rally failed to appear we were stopped out of our long play on 
Friday.  As you know, there aren't many that can make a 
fundamental case to own wireless right now and recent telecom 
weakness with the GX bankruptcy, WCOM's woes and the recent 
Nextel concerns don't help matters.  We are going to go short on 
QCOM now that the two-day consolidation has resulted in a 
downside signal.  Traders should expect the $40 level to be 
potential round-number psychological support but we are expecting 
the stock to retest its October lows near $38 if not break them.  
Keep an eye on the IXTCX combined telecom index for weakness 
below the 200 level and the YLS.X wireless index for confirmation 
of the breakdown under 80 on Friday.  We are initiating the play 
with a stop at $44.75.

Picked on February 1st at $42.46 
Change since picked:       +0.00
Earnings Date           01/24/02 (confirmed)





===============
HR Closed Plays
===============

  -------------------
  Closed Bullish Play
  -------------------

QUALCOMM - QCOM - close: 42.46 change: -1.59 stop: 42.49

Our contrarian high-risk play did not pan out this week.  For two 
days we have been watching shares of QCOM coil tightly and we've 
been expecting a breakout one way or the other.  Our bet was that 
a move towards $45.00 would have shorts covering.  Unfortunately, 
the breakout was down.  While investors might expect $40 to act 
as typical round-number psychological support we're expecting a 
drop to October's near $38.  The whole wireless sector is in the 
tank and falling.  This is no surprise to anyone (we made note of 
it on Wednesday as well as other commentaries).  Readers can see 
for themselves by checking the combined telecom index (IXTCX) 
which is hovering near the 200 level.  A break below 200 would be 
bad indeed.  Readers can also check the YLS.X wireless index of 
which QCOM would have more affinity towards.  The YLS has closed 
below the $80 level and trading near September lows.  We're 
actually going to go short on QCOM and try to play the drop.

Picked on January 30th at $44.69 
Gain since picked:         -2.20
Earnings Date           01/24/02 (confirmed)






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This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

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Do not duplicate or redistribute in any form.





PremierInvestor.net Newsletter         Weekend Edition 02-01-2002
                                                   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/3545_3.asp
=================================================================

In section three:

Market Watch for Week of February 4th
   - Major Earnings
   - Stock Splits
   - Economic Reports

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

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


==================================================
Market Watch for the week of February 4th
==================================================

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

------------------------- MONDAY -------------------------------

ACDO   Accredo Health         Mon, Feb 4  -----N/A-----     0.23
AFC    Allmerica Financial    Mon, Feb 4  -----N/A-----     0.62
BWA    BorgWarner, Inc.       Mon, Feb 4  -----N/A-----     0.72
BAB    British Airways        Mon, Feb 4  Before the Bell    N/A
FUN    Cedar Fair LP          Mon, Feb 4  After the Bell   -0.17
CMS    CMS Energy             Mon, Feb 4  Before the Bell  -0.18
EPN    El Paso Energy Partnrs Mon, Feb 4  -----N/A-----     0.16
ELN    Elan                   Mon, Feb 4  -----N/A-----     0.56
GGP    General Growth Prop    Mon, Feb 4  After the Bell    1.59
GOLD   Gold Fields Limited    Mon, Feb 4  Before the Bell   0.06
HUM    Humana                 Mon, Feb 4  Before the Bell   0.20
JP     Jefferson-Pilot        Mon, Feb 4  After the Bell    0.79
LPNT   LifePoint Hospitals    Mon, Feb 4  After the Bell    0.23
LZ     Lubrizol               Mon, Feb 4  -----N/A-----     0.40
MCY    Mercury General        Mon, Feb 4  -----N/A-----     0.57
TUNE   Microtune, Inc.        Mon, Feb 4  After the Bell   -0.13
MCO    Moody`s                Mon, Feb 4  After the Bell    0.35
NFS    Nationwide Fin Servcs  Mon, Feb 4  After the Bell    0.78
OXY    Occidental Petroleum   Mon, Feb 4  Before the Bell   0.10
PCLN   Priceline.com          Mon, Feb 4  Before the Bell   0.00
IQW    Quebecor World         Mon, Feb 4  -----N/A-----     0.39
ROH    Rohm and Haas          Mon, Feb 4  Before the Bell   0.20
FON    Sprint (FON Group)     Mon, Feb 4  After the Bell    0.30
PCS    Sprint (PCS Group)     Mon, Feb 4  After the Bell   -0.31
TIN    Temple Inland          Mon, Feb 4  -----N/A-----     0.46
UDR    United Dominion Realty Mon, Feb 4  After the Bell    0.40
ZBRA   Zebra Technologies     Mon, Feb 4  -----N/A-----     0.53

------------------------- TUESDAY ------------------------------

AES    AES Corporation        Tue, Feb 5  After the Bell    0.28
AEE    Ameren                 Tue, Feb 5  Before the Bell   0.31
ASD    American Standard      Tue, Feb 5  Before the Bell   0.78
AMH    AmerUs Group           Tue, Feb 5  After the Bell    0.78
AVZ    AMVESCAP PLC           Tue, Feb 5  Before the Bell   0.28
RMK    ARAMARK Corporation    Tue, Feb 5  After the Bell    0.26
ARI    Arden Realty           Tue, Feb 5  After the Bell    0.75
BOX    BOC Group PLC          Tue, Feb 5  -----N/A-----      N/A
BSX    Boston Scientific      Tue, Feb 5  After the Bell    0.20
CHRW   C.H. Robinson Wrldwide Tue, Feb 5  After the Bell    0.25
CMX    Caremark Rx            Tue, Feb 5  Before the Bell   0.21
CLX    Clorox                 Tue, Feb 5  -----N/A-----     0.36
CL     Colgate-Palmolive      Tue, Feb 5  Before the Bell   0.52
CVS    CVS                    Tue, Feb 5  -----N/A-----     0.24
CYMI   Cymer                  Tue, Feb 5  After the Bell   -0.09
DASTY  Dassault Syst SA (ADR) Tue, Feb 5  Before the Bell   0.40
EDMC   Education Management   Tue, Feb 5  Before the Bell   0.56
EW     Edwards Lifesciences   Tue, Feb 5  After the Bell    0.27
EMR    Emerson Electric       Tue, Feb 5  -----N/A-----     0.61
ETS    Enterasys Networks,INC Tue, Feb 5  After the Bell    0.05
ETM    Entercom Comm          Tue, Feb 5  After the Bell    0.14
EOP    Equity Office Prop     Tue, Feb 5  Before the Bell   0.82
FLS    Flowserve              Tue, Feb 5  Before the Bell   0.56
HCA    HCA Inc.               Tue, Feb 5  Before the Bell   0.42
HB     Hillenbrand Industries Tue, Feb 5  -----N/A-----     0.95
HMC    Honda Motor            Tue, Feb 5  Before the Bell    N/A
N      Inco                   Tue, Feb 5  -----N/A-----    -0.03
INRG   INRANGE Tech Corp      Tue, Feb 5  Before the Bell   0.00
LNC    Lincoln National       Tue, Feb 5  Before the Bell   0.87
MFC    Manulife Financial     Tue, Feb 5  During the Market 0.41
MKL    Markel                 Tue, Feb 5  -----N/A-----     1.05
MXIM   Maxim Integ Products   Tue, Feb 5  After the Bell    0.18
MBI    MBIA                   Tue, Feb 5  Before the Bell   1.02
MEDQ   Medquist               Tue, Feb 5  Before the Bell   0.31
MON    Monsanto Co.           Tue, Feb 5  Before the Bell   0.08
NBIX   Neurocrine Biosciences Tue, Feb 5  -----N/A-----    -0.50
OCAS   Ohio Casualty          Tue, Feb 5  Before the Bell  -0.28
OMG    OM Group Incorporated  Tue, Feb 5  Before the Bell   0.81
OHP    Oxford Health Plans    Tue, Feb 5  Before the Bell   0.78
PCAR   Paccar                 Tue, Feb 5  -----N/A-----     0.49
PZL    Pennzoil-Quaker St Co  Tue, Feb 5  Before the Bell   0.17
PFGC   Performance Food       Tue, Feb 5  -----N/A-----     0.31
PHA    Pharmacia Corporation  Tue, Feb 5  Before the Bell   0.38
PXD    Pioneer Natural Res    Tue, Feb 5  Before the Bell  -0.03
RRI    Reliant Resources      Tue, Feb 5  -----N/A-----     0.03
RYG    Royal Group Tech       Tue, Feb 5  -----N/A-----     0.18
RYAAY  Ryanair Holdings       Tue, Feb 5  -----N/A-----     0.21
TWTC   Time Warner Telecom    Tue, Feb 5  Before the Bell  -0.30
RIG    Transocean Sedco Forex Tue, Feb 5  Before the Bell   0.21
UMC    United Micro Corp      Tue, Feb 5  Before the Bell  -0.02
UPM    UPM-Kymmene Group      Tue, Feb 5  Before the Bell   0.52
WSTC   West Corporation       Tue, Feb 5  After the Bell    0.28
WHR    Whirlpool              Tue, Feb 5  Before the Bell   1.54
ZMH    Zimmer Inc.            Tue, Feb 5  Before the Bell   0.27

-----------------------  WEDNESDAY -----------------------------

TW     21st Century Insurance Wed, Feb 6  After the Bell   -0.14
ADO    Adecco SA              Wed, Feb 6  -----N/A-----      N/A
ALL    Allstate               Wed, Feb 6  Before the Bell   0.46
ATH    Anthem, Inc.           Wed, Feb 6  Before the Bell   0.89
ASTSF  ASE Test Limited       Wed, Feb 6  After the Bell   -0.17
ATTC   AT&T Canada            Wed, Feb 6  After the Bell   -1.20
AVP    Avon Products          Wed, Feb 6  Before the Bell   0.74
EAT    Brinker International  Wed, Feb 6  After the Bell     N/A
CLU    Canada Life Financial  Wed, Feb 6  -----N/A-----     0.48
CSL    Carlisle Companies     Wed, Feb 6  After the Bell    0.25
CD     Cendant                Wed, Feb 6  After the Bell    0.21
CRL    Charles River Lab      Wed, Feb 6  After the Bell    0.24
CSB    CIBA SPECIALTY CHEM    Wed, Feb 6  Before the Bell    N/A
CINF   Cincinnati Financial   Wed, Feb 6  Before the Bell   0.35
CSCO   Cisco Systems          Wed, Feb 6  After the Bell    0.05
CMCSK  Comcast                Wed, Feb 6  -----N/A-----    -0.30
CTV    CommScope              Wed, Feb 6  After the Bell    0.15
CVH    Coventry Health Care   Wed, Feb 6  Before the Bell   0.32
DNB    D&B                    Wed, Feb 6  After the Bell    0.67
DVN    Devon Energy           Wed, Feb 6  -----N/A-----     0.10
EDS    Electronic Data System Wed, Feb 6  After the Bell    0.79
EQR    Eq Resident Prop Trst  Wed, Feb 6  -----N/A-----     0.65
ESRX   Express Scripts A      Wed, Feb 6  After the Bell    0.42
GEMP   Gemplus Inter S.A.     Wed, Feb 6  -----N/A-----    -0.04
GETY   Getty Images           Wed, Feb 6  After the Bell   -0.33
GRP    Grant Prideco          Wed, Feb 6  Before the Bell   0.15
GXP    Grt Plains Energy Inc. Wed, Feb 6  After the Bell    0.10
HET    Harrah`s Entertainment Wed, Feb 6  -----N/A-----     0.47
JHF    John Hancock Fin Serv  Wed, Feb 6  After the Bell    0.69
JNY    Jones Apparel          Wed, Feb 6  Before the Bell   0.21
MGM    Metro-Goldwyn-Mayer    Wed, Feb 6  Before the Bell   0.05
NEM    Newmont Mining         Wed, Feb 6  Before the Bell   0.10
PAS    PepsiAmericas          Wed, Feb 6  After the Bell    0.10
PEP    Pepsico                Wed, Feb 6  Before the Bell   0.42
PPS    Post Properties        Wed, Feb 6  After the Bell    0.80
PP     Prentiss Properties    Wed, Feb 6  After the Bell    0.85
PFG    Principal Fin Grp      Wed, Feb 6  Before the Bell   0.46
PLD    ProLogis Trust         Wed, Feb 6  After the Bell    0.61
PTZ    Pulitzer Inc.          Wed, Feb 6  Before the Bell   0.16
QLTI   QLT                    Wed, Feb 6  After the Bell    0.06
O      Realty Income Corp     Wed, Feb 6  Before the Bell   0.70
REG    Regency Centers Corp   Wed, Feb 6  After the Bell    0.76
REI    Reliant Energy         Wed, Feb 6  Before the Bell   0.32
SNRA   Sonera Group plc       Wed, Feb 6  -----N/A-----      N/A
JOE    St. Joe Company        Wed, Feb 6  Before the Bell    N/A
UNM    UNUMProvident          Wed, Feb 6  After the Bell    0.62
WEC    Wisconsin Energy       Wed, Feb 6  Before the Bell   0.55

------------------------- THURSDAY -----------------------------

RKY    Adolph Coors           Thu, Feb 7  -----N/A-----     0.33
AG     AGCO                   Thu, Feb 7  Before the Bell   0.29
AZ     ALLIANZ AG             Thu, Feb 7  -----N/A-----      N/A
AIG    American Inter Group   Thu, Feb 7  -----N/A-----     0.78
AWK    American Water Works   Thu, Feb 7  -----N/A-----     0.41
AN     AutoNation             Thu, Feb 7  Before the Bell   0.19
BTY    British Telecomm PLC   Thu, Feb 7  -----N/A-----      N/A
VNT    C. A. Nac Tel VenCANTV Thu, Feb 7  After the Bell    0.19
CCJ    Cameco                 Thu, Feb 7  After the Bell     N/A
CB     Chubb                  Thu, Feb 7  Before the Bell   0.55
CNH    CNH Global N.V.        Thu, Feb 7  Before the Bell  -0.31
CFB    Commercial Federal     Thu, Feb 7  Before the Bell   0.49
CTB    Cooper Tire & Rubber   Thu, Feb 7  Before the Bell   0.19
EQT    Equitable Resources    Thu, Feb 7  Before the Bell   0.45
FLR    Fluor                  Thu, Feb 7  After the Bell    0.40
GCI    Gannett                Thu, Feb 7  Before the Bell   0.92
GENU   Genuity Inc.           Thu, Feb 7  Before the Bell  -0.31
GSPN   GlobespanVirata, Inc.  Thu, Feb 7  After the Bell   -0.05
GG     Goldcorp               Thu, Feb 7  After the Bell    0.14
HAS    Hasbro                 Thu, Feb 7  Before the Bell   0.37
HNI    Hon Industries         Thu, Feb 7  Before the Bell   0.38
ICI    Imperial Chemical      Thu, Feb 7  -----N/A-----      N/A
KIM    Kimco Realty           Thu, Feb 7  After the Bell    0.77
LECO   Lincoln Electric       Thu, Feb 7  Before the Bell   0.45
MX     Metso Corporation      Thu, Feb 7  -----N/A-----      N/A
MTD    Mettler Toledo Intern  Thu, Feb 7  After the Bell    0.67
MITSY  Mitsui & Co Ltd        Thu, Feb 7  -----N/A-----      N/A
MHK    Mohawk Industries      Thu, Feb 7  After the Bell    0.92
MNY    MONY Group             Thu, Feb 7  Before the Bell   0.10
NVS    Novartis AG            Thu, Feb 7  -----N/A-----      N/A
NVO    Novo-Nordisk           Thu, Feb 7  Before the Bell    N/A
OCA    Orthodontic Cen of Am  Thu, Feb 7  -----N/A-----     0.33
PNR    Pentair                Thu, Feb 7  -----N/A-----     0.22
PIXR   Pixar                  Thu, Feb 7  After the Bell    0.18
RL     Polo Ralph Lauren      Thu, Feb 7  Before the Bell   0.44
POT    Pt Crp of Saskatchewan Thu, Feb 7  -----N/A-----     0.06
RD     Royal Dutch Petroleum  Thu, Feb 7  -----N/A-----     0.60
PHG    Royal Philips          Thu, Feb 7  -----N/A-----      N/A
R      Ryder System           Thu, Feb 7  Before the Bell   0.40
SCIO   Scios                  Thu, Feb 7  Before the Bell  -0.64
SC     Shell Transport        Thu, Feb 7  -----N/A-----     0.51
SHW    Sherwin-Williams       Thu, Feb 7  -----N/A-----     0.29
SIGY   Signet Group           Thu, Feb 7  -----N/A-----     2.20
SPG    Simon Property Group   Thu, Feb 7  Before the Bell   1.11
SNN    Smith & Nephew         Thu, Feb 7  -----N/A-----     0.88
SUP    Superior Industries    Thu, Feb 7  -----N/A-----     0.55
PNX    The Phoenix Companies  Thu, Feb 7  -----N/A-----     0.17
TBL    Timberland             Thu, Feb 7  Before the Bell   0.81
TMK    Torchmark              Thu, Feb 7  Before the Bell   0.80
TRH    Transatlantic Holdings Thu, Feb 7  Before the Bell   0.25
TMIC   Trend Micro            Thu, Feb 7  -----N/A-----      N/A
TQNT   TriQuint Semiconductor Thu, Feb 7  After the Bell   -0.02
UCU    UtiliCorp United       Thu, Feb 7  Before the Bell   0.45
VRTX   Vertex Pharmaceuticals Thu, Feb 7  After the Bell   -0.19
VSH    Vishay Intertechnology Thu, Feb 7  -----N/A-----    -0.04
ZL     Zarlink                Thu, Feb 7  Before the Bell  -0.13

------------------------- FRIDAY -------------------------------

BLC    Belo                   Fri, Feb 8  Before the Bell  -0.03
BSY    BritishSky Brdcstg Grp Fri, Feb 8  Before the Bell  -0.04
CRE    CarrAmerica Realty     Fri, Feb 8  -----N/A-----     0.84
CI     CIGNA                  Fri, Feb 8  Before the Bell   1.81
ELUX   Electrolux AB ADR      Fri, Feb 8  -----N/A-----     0.44
GT     Goodyear Tire & Rubber Fri, Feb 8  Before the Bell  -0.28
HTV    Hearst-Argyle TV       Fri, Feb 8  Before the Bell   0.03
NRD    NORANDA INC            Fri, Feb 8  Before the Bell    N/A
ORH    Odyssey Re Hldng Corp. Fri, Feb 8  After the Bell   -0.07
SHU    Shurgard Storage       Fri, Feb 8  Before the Bell   0.70
TGH    Trigon Healthcare      Fri, Feb 8  Before the Bell   1.04
UVV    Universal              Fri, Feb 8  -----N/A-----     0.88
VOLVY  Volvo AB               Fri, Feb 8  -----N/A-----      N/A
WEN    Wendy`s International  Fri, Feb 8  -----N/A-----     0.42


  -------------------------------
  Upcoming Stock Splits In The Next Two Weeks...
  -------------------------------

Symbol  Company Name              Ratio    Payable     Executable

FRED    Freds Inc                 3:2      02/01       02/04
HOTT    Hot Topic, Inc.           3:2      02/05       02/06
SONC    Sonic Corp                3:2      02/08       02/11
MGAM    Multimedia Games Inc.     3:2      02/10       02/11
RSC     REX Stores                3:2      02/11       02/12


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

Most of the major economic reports came out last week, along
with the FOMC meeting where Wall Street had expected no rate
change.  Positive indications may offer investors hope despite
the weight of the Enron collapse still on the markets.  Earnings
season is still in full bloom.


Monday, 02/04/02
----------------
Auto Sales (BB)          Jan  Forecast:   6.0M  Previous:    5.2M
Truck Sales (BB)         Jan  Forecast:   6.8M  Previous:    7.8M


Tuesday, 02/05/02
-----------------
ISM Services (DM)        Jan  Forecast:   50.5  Previous:    54.2
Factory Orders (DM)      Dec  Forecast:   0.5%  Previous:   -3.3%


Wednesday, 02/06/02
-------------------
Productivity-Prel (BB)    Q4  Forecast:   1.9%  Previous:    1.1%


Thursday, 02/07/02
------------------
Initial Claims (BB)    02/02  Forecast:   395K  Previous:    390K
Consumer Credit (AB)     Dec  Forecast:  $7.7B  Previous:  $19.9B


Friday, 02/08/02
----------------
Wholesale Invntries (DM) Dec  Forecast:    N/A  Previous:   -1.1%

Definitions:
DM=  During the Market
BB=  Before the Bell
AB=  After the Bell



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

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

--------------------------------- 
Value Plays With Bullish Signals 
--------------------------------- 
Ticker  Company Name               Close     Change 

BA      Boeing Co                  41.46     +0.51
NBR     Nabors Industries          32.03     +0.72
NXY     Nexen Inc                  20.43     +0.87
DOL     Dole Food Co               29.65     +1.65
ESE     Esco Technologies Inc      33.20     +0.95

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

FCEL    Fuelcell Energy Inc        18.08     +2.15
PLUG    Plug Power Inc             11.20     +1.39
HRLY    Herley Industries          17.49     +1.09
BNHNA   Benihana Inc               17.59     +1.19

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

BEN     Franklin Resources Inc     38.52     +1.07
CSC     Computer Sciences          46.30     +1.80
ADBE    Adobe Systems Inc          35.93     +2.23
GILD    Gilead Sciences            69.81     +4.39
MGG     MGM Mirage Inc             34.13     +1.75

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

FTE     France Telecom             30.40     -1.66
HIT     Hitachi Ltd                60.61     -2.20
WMI     Waste Management Inc       25.13     -3.69
TMPW    Tmp Worldwide Inc          38.21     -4.36
SNPS    Synopsys Inc               49.95     -1.93

----------------------------------------- 
Recently Overbought With Bearish Signals (Stocks over $20)
------------------------------------------- 
Ticker  Company Name               Close     Change 

SKM     SK Telecom Co Ltd          21.10     -0.82
DBRN    Dress Barn Inc             26.20     -0.59





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