Option Investor
Newsletter

Daily Newsletter, Monday, 03/04/2002

HAVING TROUBLE PRINTING?
Printer friendly version
PremierInvestor.net Newsletter                 Monday 03-04-2002
                                                  section 1 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/c04b_1.asp
=================================================================

In section one:

Market Wrap:      In Like A Bull.
Watch List:       THQI, DAL, EMR, ISLE, IRF, ETR, ADBE
Market Sentiment: All Aboard.
Play of the Day:  One Breakout Worth Playing.

-----------------------------------------------------------------
U.S. Market Numbers
-----------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
-----------------------------------------------------------------
      03-04-2002          High     Low     Volume Advance/Decline
DJIA    10586.82 +217.96 10600.10 10366.78 1.60 bln   2247/ 927
NASDAQ   1859.32 + 56.58  1859.72  1789.72 2.30 bln   2324/1273
S&P 100   586.52 + 10.36   586.60   575.22   Totals   4571/2200
S&P 500  1153.84 + 22.06  1153.84  1130.93
RUS 2000  488.00 +  9.66   488.90   478.34
DJ TRANS 3050.40 +152.83  3050.40  2897.66
VIX        22.08 -  0.05    22.66    21.71
VXN        40.92 -  1.02    43.74    40.69
TRIN        0.52
PUT/CALL    0.65
-----------------------------------------------------------------

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

In Like A Bull

March has begun in bullish fashion.  For the second day of the
month, stocks finished significantly higher.  The major market
averages settled higher across the board.  

Dow Jones Industrial Average ($INDU)

The INDU finished the day at 10586.82, higher by 217.96 points,
or 2.10 percent.  The INDU finished just off of its session
highs, which were set at the 10600.10 mark.

Only seven of the Dow's components finished in negative
territory.  The weakness was fractional, led primarily by
consumer-related names.  Disney (NYSE:DIS), Coca-Cola (NYSE:KO),
Phillip Morris (NYSE:MO), Home Depot (NYSE:HD), Honeywell
(NYSE:HON), Procter & Gamble (NYSE:PG), and Johnson & Johnson
(NYSE:JNJ) accounted for what very little weakness was
observed among Dow components.

The leaders were far more impressive in magnitude of movement.
The top performing component in the Dow was J.P. Morgan
Chase (NYSE:JPM) with its 9.57 percent gain, followed by
General Motors (NYSE:GM) higher by 6.78 percent, and American
Express (NYSE:AXP) better by 5.54 percent.

S&P 500 (SPX.X)

The SPX finished the day above resistance at the 1130 level,
which had kept the average in check during rally attempts in
late January.  Also worth noting from a technical perspective,
the SPX finished slightly above its 200-dma, which now sits
below at 1152.36.

The index closed the day at 1153.84, higher by 22.06 points,
or 1.94 percent.  The strong performance of technology and
financial shares powered the SPX to its impressive gain
Monday.  The index's two largest industry components are in
the aforementioned two groups.

Nasdaq-100 (NDX.X)

The tech heavy NDX finished Monday's session at 1494.70,
higher by 59.29 points, or 4.13 percent.  The impressive
gains in Internet, Networking, Semiconductor, and Hardware
issues helped the NDX higher.  The tracking stock for the
NDX, the QQQs (AMEX:QQQ), finished at $37.15, higher by
3.94 percent.

Volume on the Nasdaq market picked up as 2.27 billions
shares exchanged hands.  Advancers out paced decliners by
a margin of about 2 to 1.  There were 189 new highs set
Monday on the Nasdaq market, while 32 new lows were set.

Dow Jones Transportation Average ($TRAN)

The TRAN was the best performing market average in Monday's
session, closing at a new yearly high above the 3000 mark.
Its 5.27 percent gain was impressive indeed.

Leading performers within the TRAN included a huge jump in
shares of UAL (NYSE:UAL) ahead of that company's talks with
mechanics.  Shares of UAL gained 19.97 percent on the day.
Other notable advancers in the TRAN included shares of
J.B. Hunt Transport Services (NASDAQ:JBHT), which gained
11.81 percent, Yellow Corp. (NASDAQ:YELL), which added 7.60
percent, and Paccar (NASDAQ:PCAR), which reached an all-time
high with its 7.27 percent pop.  All 20 components of the
TRAN finished in positive territory.

With its move last Friday and into today's session, the TRAN
finally broke above its long-standing descending resistance
line.  The index finished solidly above the 3000 level with
potential resistance now near the 3100 mark.

TRAN - Daily




Treasuries   

Longer-dated Treasuries finished lower in Monday's session
with on the short-end of the curve showing any signs of
buying interest.  The 13-week Bill (IRX.X), for example,
finished the day unchanged.

The growing prospects of a strong economic recovery kept
buyers at bay in the bond market.  Add to the fears of
inflation the recent strength in stocks and we saw continued
rotation out of bonds Monday.

Jeff Bailey and I have been writing about the critical levels
at which the benchmark 10-year Yield (TNX.X) currently trades.
The TNX.X put in more upside work in Monday's session, breakout
above the bearish resistance line that has been in place since
early January.  But the TNX.X failed to breakout above its most
recent relative high, which currently sits just above the 50.50
level.  The selling in the bond market has been powering the
recent rally in stocks.  Accordingly, bulls would like to see
the TNX.X take out its relative high this week, which could
potentially produce the necessary liquidity to carry stocks
higher this week.

TNX.X - Daily




Fun With Financials

Much of the action in the bond market Monday was reflected
in the renewed optimism in the financial segment of the
market.  Shares of major banks, brokers, and insurers traded
higher in the wake of last week's positive macro economic
data and the prospects for a brighter economy.

The Securities Broker/Dealer Index (XBD.X) was among the
better performing sectors in Monday's session.  The group has
been especially hard hit in recent weeks as investors grew
nervous about the lack of underwriting business as well as
absence of merger and acquisition activity, both of which are
the critical components of the brokers' business lines.  Those
fears were halted Monday as the sector bounced back in a big
way.  Individual moves included E Trade Group (NYSE:ET),
Lehman Brothers (NYSE:LEH), Raymond James Financial (NYSE:RJF),
and Morgan Stanley (NYSE:MWD).

The larger banks also got into the act with a 3.74 percent
gain in the KBW Bank Sector Index (BKX.X), which is a measure
of some of the nation's largest financial institutions.  J.P.
Morgan led the sector higher, with notable gains coming in
shares of Bank One (NYSE:ONE) and Citigroup (NYSE:C).  Among
insurers, American International Group (NYSE:AIG) and Aflac
(NYSE:AFL) traded measurably higher.

The BKX finished above its 200-dma -- a key technical measure
of price that many institutions follow -- for the first time
in over a month.  The index does, however, face congestion
above its current levels in the area just below the 900
level.  A breakout in this group should propel the S&P 500
higher and could come in conjunction with a breakout in the
TNX.X.  The bond market and financials often trade in unison,
so the current set-up in the TNX.X and BKX.X is worth
monitoring for potential bullish plays.

BKX.X - Daily




Tech-Driven

In technology, the Internet Index (INX.X) was the day's
best performing sector with its 10.44 percent gain.  The
group was helped higher by a broad rally across the
components, ranging from the 23.47 percent leap in shares of
Real Networks (NASDAQ:RNWK) to the 9.86 percent rebound in
shares of Cisco Systems (NASDAQ:CSCO).

Bid or Offer?  

Another chapter in the battle that has become eBay
(NASDAQ:EBAY) was written Monday morning when Deutsche
Banc Alex Brown upgraded the stock from a buy to a strong
buy investment rating.  This mornings upgrade followed
several analyst actions of opposing views last week.  The
bulls got the victory today as shares of the Internet
auctioneer finished 8.39 percent higher to close at $59.46.
The stock's gain contributed to the strength in the INX.X
as EBAY is one of the components of the index.

The stock's rally stopped at a most curious level in Monday's
session.  From a technical perspective, there is a confluence
of three distinct resistance levels near the $60 mark in
shares of EBAY.  First, the stock's bearish resistance line
on the point and figure chart rests at the $60 level.  EBAY's
intraday high Monday was $59.55, 45 cents short of the print
required to break the bearish resistance line.

EBAY - Point & Figure




On the bar chart, the $60 level comes in as resistance by
two ways.  First, the rounding 200-dma rests overhead at the
$60.20 level, which is not exactly $60, but close enough as
far as this trader is concerned.  Second, a key retracement
level rests at the $59.50 level, which was near the day high
set in the stock.

EBAY - Daily (200-dma and Retracement)




Shares of eBay are higher by about $10 in the last three
sessions, or by about 21 percent.  The stock is due for a
pullback in the coming sessions and with the three merged
levels of resistance at the $60 level, profit taking seems
likely in the coming sessions.

Softening Orders

Of the nine pure technology sectors that I track every day,
the Software Sector (GSO.X) was the under performer with its
3.47 percent advance -- a very solid move by any measure.  The
group would've finished much higher if it had not been for
Oracle (NASDAQ:ORCL), who warned after the bell late last
Friday.  Of the 30 or so components of the GSO.X, shares of
Oracle were the only to finish lower.  And lower did they
finish.  The stock shed 14.50 percent in Monday's session.

Although it's a low priced stock, Oracle carries a heavy
weighting in both the Nasdaq-100 and the GSO.X.  Even after
Monday's 14.50 percent shave, the stock trades with a $75
billion market cap.  The stock is the fourth-largest in the
Nasdaq-100, behind only Microsoft (NASDAQ:MSFT), Intel
(NASDAQ:INTC), and Cisco.  I mention that much because
Oracle is a proxy of the database software market.  The
company said that its earnings would fall short of previous
estimates by about a penny.  While the economy appears to
be turning around, some sectors of the market continue to
struggle, which Oracle epitomized in Monday's session.

More Macro Numbers

The non-manufacturing portion of the ISM Index is due to be
released tomorrow morning at 10:00 a.m. EST.  Following
last week's big upside surprise in the manufacturing number,
market participants will be looking for a similar upside
surprise in the number tomorrow.  January's number came in
at 49.6 percent.  The market is looking for the non
manufacturing number to have risen to 51.2 percent during
February.  Due for release Wednesday include Factory
orders for January and the Fed's Beige Book report.

The biggest economic releases of the week will come with the
non-farm payrolls and jobless rate numbers Friday morning.
The recent round of economic data have been decidedly
positive in terms of an economic rebound.  But investors are
looking for some negative news on the employment front
later this week.  The market is expecting the payrolls
number to show an addition of jobs for the first time in
seven months.  While the consensus expects the
unemployment rate to have risen to 5.8 percent, above
January's reading of 5.6 percent.

Short-term Outlook

The market has had two very impressive back-to-back gains
on the heels of positive economic data.  The recovery of the
U.S. economy appears imminent as the recent data have
revealed and the market's reception to those numbers.  But
no market or stock moves in a straight line.  A period of
consolidation is necessary to keep a healthy rally moving
higher.  That said, a day or two of pullback in the market
may be around the corner.  But by most all measures, the
market is poised to continue higher over the intermediate
term.

One metric that readers can turn to for more insight into the
market's direction is the bond market, which we highlighted
above.  Continued selling in the bond market could build the
necessary cash that will move stocks higher through this
month.  It can be as simple as watching for a breakout in the
TNX.X above the 50.50 level that we highlighted.  That's
what I'll be doing this week.

Eric Utley
Premier Investor


==================================================================
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
---------------------------------

THQ Inc. - THQI - close: 50.83 change: +2.79

WHAT TO WATCH: Here’s another strong software performer.  THQI 
led the recent software rally, with over a 10% gain in the past 
two sessions.  Today’s 5.80% move not only pushed shares above 
psychological resistance at $50, but also over the 100 and 200 
dma’s.  Although this is a positive technical development, we 
believe that THQI is short-term overbought and due for some 
profit taking in the immediate future.  Thus, instead of jumping 
on at current levels we’d look for shares to pullback to $49-$50 
(maybe $48) before continuing higher.  With the aforementioned 
moving averages already pierced, breaking back over $50 shouldn’t 
prove to be too difficult for bulls.  FYI, this may be one worth 
watching for a few days since the point-and-figure chart 
descending bearish resistance is at $51.00, directly overhead.


 

--- 

Delta Airlines - DAL - close: 38.59 change: +2.42

WHAT TO WATCH:  We’re not too surprised by the way the XAL.X 
airline index has performed over the past month.  With the 
transports and cyclicals also heading higher, it stands to reason 
that airlines will also benefit from the economic upturn.  What 
did catch our eye is the way DAL has led the sector higher.  
Shares have steadily risen since bottoming out in September, but 
things really started to get interesting after they broke above 
the 200-dma last Wednesday.  After a brief move higher and retest 
of that level, DAL rocketed higher with the broader market over 
the past two sessions.  We like the way that the 9/11 gap was 
been completely filled, and think DAL will continue to fly 
higher.  However, the sustainability of this sharp rally is 
questionable.  We’d look for shares to pull back over the next 
few trading sessions.  If this occurs, a logical place to look 
for a bounce would be $37 - The top of the 9/11 gap.  A move 
higher off this level could lead the way for shares to trade up 
to their next obstacle at $40.  Keep an eye on the XAL.X airline 
index which has broken out above the 100 level but rallied right 
to its 200-dma.  Odds of a pull back look pretty high.




---

Emerson Electric - EMR - close: 63.36 change: +3.96

WHAT TO WATCH:  Since gapping below $60 last July, EMR had been 
turned back on every attempt to cross back over that level.  That 
changed today, when a strong rally moved shares all the way to 
$63.36.  With the p-n-f chart showing a triple-top breakout, you 
can almost see the panicked shorts running for the exits when EMR 
finally cracked resistance!  However, while this move is 
definitely positive, we’re looking for some consolidation of the 
recent gains before shares head higher.  To this end, a pullback 
and bounce near $60 to $61 would be a very attractive potential 
entry.  Assuming previous resistance will now act as support, it 
becomes very easy to limit downside risk.  More aggressive 
investors could consider entries on bounces from higher levels.  
We know EMR was on the watch list this weekend for a move over 
$60 but today's 6.6% gain is just too much for us to chase 
comfortably.  The stock might even reach $65 before it feels any 
profit taking in which case we'll look for a dip to $62.




---

Isle of Capris Casinos - ISLE - close: 17.90 change: +1.01

WHAT TO WATCH:  ISLE added almost 6% today, and is threatening to 
break over resistance at $18.  The broader market certainly 
created a favorable environment for this move, but we knew that 
bulls had been toying with advances in the gaming group prior to 
the market rally Friday and Monday.  With the MACD looking 
bullish and today’s move coming on huge volume, we’re looking for 
shares to continue to trade higher in the near-term.  First, 
though, that resistance at $18 must be overcome.  Thus, a close 
over this would be a good time to consider rolling the dice on a 
bullish trade.  If the market pauses to catch its breath then 
ISLE may take the opportunity to trade sideways and build the 
bullish wedge under resistance at $18 just a little bit more.




---

Intl Rectifier - IRF - close: 44.74 change: +4.19

WHAT TO WATCH:  IRF is another stock that has just broken above 
long-time resistance.  After getting slammed on bad news in June, 
shares bumped repeatedly off the $41 level of resistance.  
Friday’s close was just under that level, and today’s 10.33% move 
on high volume was more than enough to finally lift IRF above 
resistance.  The oscillators also look favorable, with the MACD 
showing a bullish crossover and the daily stochastics heading up 
with room to move.  However, as with most stocks on tonight’s 
Watch List, we’d like to see some consolidation of the past two 
sessions’ gains before jumping on.  In this case, a pullback to 
$41 or $42 could provide an attractive entry point.  




--- 

Entergy - ETR - close: 42.43 change: +0.93

WHAT TO WATCH:  In keeping with tonight’s theme, ETR is yet 
another stock that managed to break over resistance on high 
volume.  The $42 level had repelled two earlier rally attempts 
this year, but the third time was the charm as shares closed at 
$42.43.  Although we had to include the "wait for profit-taking" 
caveat on similar Watch List stocks tonight, we don’t think ETR 
is overbought quite yet.  Uber-conservative traders could attempt 
a stop at just under $42 but we'd probably consider a stop 
somewhere under Wednesday or Thursday's lows.  Our initial profit 
target would be last year's highs near $44 to $45 (a decent 5%).
In the news today, ETR suspended a public plea for power 
conversion in Texas and Louisiana after it became clear that 
their electric system could handle higher demand created by the 
record cold snap in the region.




---

Adobe Systems - ADBE - close: 40.96 change: +2.42 

WHAT TO WATCH: ADBE made this weekend’s Watch List after closing 
over $38, but we opted not to include it as a play because of the 
negative ORCL news.  As we speculated might be the case, that 
news did little to hold down the GSO.X software index, which 
rallied 3.47% today.  In predictable fashion, ADBE helped lead 
the sector higher with a gain of over 6%.  The $40 level had 
acted as resistance on Friday, but was blown away by the strength 
of today’s tech momentum.  Its tempting to consider entries now, 
but we wouldn’t try to chase this one higher.  +480 points on the 
Dow Jones and 130 on the NASDAQ over two days is a huge move and 
nothing goes up in a straight line.  When the expected profit 
taking does hit, we think favorable entry points could be had if 
ADBE pulls back to $39-$40, or bounces from previous resistance 
at $38.




--- 


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

All Aboard.
by Russ Moore


An impressive two-day rally has brought out another chorus of 
"don’t miss the train" to Wall Street. Investors are hoping the 
track doesn’t run in a circle.

The major indices were flying high once again despite escalation 
in overseas action and a dismal performance by Oracle. The DOW 
closed with a lofty gain of +2.1 percent. The NASDAQ struggled 
before getting its’ legs and shooting to a +3.1 percent gain. The 
big cap NDX tacked on a solid +4.1 percent.

I don’t know how many times we’ve talked about conviction, and, 
how volume levels would need to improve for a sustained rally to 
take place. Today’s activity was a step in the right direction 
with the NYSE moving 1.60 billion shares and the NASDAQ climbing 
to 2.02 billion. Market breadth was very positive as winners 
outperformed losers by a margin of 22/9 on the big board and 
23/13 on the tech index.

Let’s not forget that one day of good volume is only a step in a 
very long climb. Retail investor enthusiasm will not be enough to 
keep prices rising, for that we’ll need to see corporate interest 
improve. Trim Tabs reported that corporate liquidity turned 
“extremely bearish” last week, a reversal from the previous two 
weeks where some bullishness was seen. 

Trim Tabs said that new offerings exploded while new cash 
takeovers and stock buyback activity dried up. "Unless last 
week’s corporate buyer’s strike was just a pause, it does appear 
that corporate investors are adding heavily to the trading float 
of shares," Trim Tabs said. The company also noted "a bear 
market, in liquidity terms, is when less cash is chasing more 
shares. When corporate investors are bearish, no rally based upon 
fresh cash flowing in can last very long".

Volatility levels have fallen to the "warning" level and should 
be monitored closely by those long the market. 

VIX
Monday 03/04 close: 22.08


VXN
Monday 03/04 close: 40.92


10-yr Bonds
Monday 03/04 close: 5.00


Total Put/Call Ratio:  .65


Equity Option Put/Call Ratio:  .55


Index Option Put/Call Ratio: 1.24


===

NASDAQ 100 Index (NDX/QQQ)
52-Week High: 103.51
52-Week Low:   28.19
Current close: 37.15

Volume/Open Interest
Maximum calls: 40/127,549
Maximum puts : 35/120,638

Moving Averages
 10 DMA 34
 20 DMA 35
 50 DMA 38
200 DMA 39

Fibanocci Retracements
Relative High: 43.24 (12/06/01)
Relative Low:  34.97 (02/08/02)
38% 38.13
50% 39.11
62% 40.10

===

S&P 100 Index (OEX)
52-Week High:  834.93
52-Week Low:   491.70
Current close: 586.47

Volume/Open Interest
Maximum calls: 580/7,135
Maximum puts : 510/6,849

Moving Averages
 10 DMA  562
 20 DMA  560
 50 DMA  573
200 DMA  591

Fibanocci Retracements
Relative High: 600.80 (01/04/02)
Relative Low:  546.13 (01/30/02)
38% 567.00
50% 573.44
62% 579.99

===

S&P 500 (SPX)
52-Week High:  1530.01
52-Week Low:    965.80
Current close: 1153.78

Volume / Open Interest
Maximum calls: 1100/47,566
Maximum puts : 1100/55,020

Moving Averages
 10 DMA 1107
 20 DMA 1103
 50 DMA 1126
200 DMA 1152

Fibanocci Retracements
Relative High: 1176.97 (01/07/02)
Relative Low:  1077.78 (02/06/02)
38% 1115.67
50% 1127.37
62% 1139.27

==

DJIA (INDU)
52-Week High:  11,518.83
52-Week Low:    8,235.81
Current close: 10,586.78

Volume / Open Interest
Maximum Calls: 100/18,392
Maximum Puts    96/41,509

Moving Averages:
 10 DMA 10,093
 20 DMA  9,948
 50 DMA  9,955
200 DMA 10,032

Fibanocci Retracements
Relative High: 10,300.15 (01/07/02)
Relative Low    9,529.46 (01/30/02)
38%  9,823.86
50%  9,914.80
62% 10,007.28

==

Biotech Index (BTK)
52-Week High:  811.61
52-Week Low:   383.28
Current close: 492.50

Volume / Open Interest
Maximum Calls: 520/959
Maximum Puts:  520/931

Moving Averages
 10 DMA 486
 20 DMA 489
 50 DMA 525
200 DMA 541

Fibanocci Retracements
Relative High: 625.15 (12/06/01)
Relative Low:  450.20 (02/07/02)
38% 517.03
50% 537.67
62% 558.66

==

Semiconductor Index (SOX)
52-Week High: 1280.84
52-Week Low:   362.00
Current close: 600.91

Volume / Open Interest
Maximum Calls: 550/1,182
Maximum Puts:  500/2,075

Moving Averages
 10 DMA 537
 20 DMA 541
 50 DMA 543
200 DMA 545

Fibanocci Retracements
Relative High: 606.88 (01/09/02)
Relative Low:  499.09 (01/22/02)
38% 540.26
50% 552.98
62% 565.91

==

Pharmaceutical Index (DRG)
52-Week High:  455.28
52-Week Low:   339.49
Current close: 391.53

Volume / Open Interest
Maximum Calls: 400/550
Maximum Puts:  380/500

Moving Averages
 10 DMA 384
 20 DMA 379
 50 DMA 379
200 DMA 389

Fibanocci Retracements
Relative High: 403.83 (11/26/01)
Relative Low:  365.22 (02/08/02)
38% 379.93
50% 384.51
62% 389.17

*****

CBOT Commitment Of Traders Report: Friday, 03/01. 
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 
02/12/02     355,276   412,868   (57,592)    6.6%
02/19/02     355,905   772,569   (60,759)    5.5%
02/26/02     366,258   432,258   (66,000)    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
02/12/02       126,730    59,902    66,828     4.7%
02/19/02       130,856    63,311    67,545     1.1%
02/26/02       139,183    62,087    77,096    14.1%

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 
02/12/02      32,712    34,841    (2,129)    (30.1%)
02/19/02      33,871    35,690    (1,819)    (14.6%)
02/26/02      33,589    34,091      (502)    (72.0%)

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
02/12/02        9,009     7,415    1,594    (29.0%)
02/19/02        9,966     8,073    1,893     18.8%
02/26/02        9,517    11,416   (1,899)  

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 
02/12/02      26,811    16,488   10,323      5.3%
02/19/02      29,606    17,953   11,653     12.9%
02/26/02      33,322    21,110   12,212      4.8%

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
02/12/02       4,562    10,038    (5,476)     15.0%
02/19/02       4,654    10,431    (5,777)      5.5%
02/26/02       6,333    12,547    (6,214)      7.5%

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        +77,096     +67,545        -66,000    -60,759

Total Open
Interest %       (+38.30%)  (+34.79%)      (-8.26%)   (-7.86%)
                 net-long   net-long       net-short  net-short


                     Small Specs             Commercials
DJIA futures     (Current) (Previous)    (Current) (Previous)
Open Interest
Net Value          -6,214     -5,777          +12,212   +11,653
Total Open
interest %       (-32.91%)    (-38.29)      (+22.43%)  (+24.50)
                 net-short   net-short       net-long    net-long


                     Small Spec              Commercials
NASDAQ 100      (Current) (Previous)    (Current) (Previous)
Open Interest
Net Value         -1,899      +1,893       -502    -1,819

Total Open
Interest %        (-9.07%)   (+10.49%)     (-.74%) (-2.61%)
                 net-short   net-long      net-short  net-short


What COT Data Tells Us
----------------------
Indices:.Commercials and Small Specs were moving in opposite 
directions this week as the big players added to their net-short 
positions while the Small Specs increased their long exposure. 

With bullish economic data becoming more prevalent, it’ll be 
interesting to follow Commercial activity over the coming weeks. 
If we don’t see some commitment from these players I would be 
extremely suspect of a sustained rally taking place.

Gold:.. 

02/05 58,180 contracts net-short
02/12 62,223 contracts net-short
02/19 60,054 contracts net-short
02/26 56,409 contracts net-short

Data compiled as of Tuesday 02/26 by the CFTC.



===============
Play-of-the-Day  (bullish)
===============
(( new high risk/reward play ))

Centex Corp - CTX - close: 61.32 change: +2.68 stop: 57.39

Company Description:
Centex Homes is a subsidiary of Dallas-based Centex Corporation), 
and was recently named one of "America's Most Admired Companies" 
by FORTUNE magazine. Centex Corp., through its subsidiaries, 
ranks as one of the nation's largest non-bank-affiliated retail 
mortgage loan originators and a leading general building 
contractor. Centex Corp. also has operations in investment real 
estate and home services and owns a majority interest in a 
publicly held construction products company. 
(source: company press release)

Why We Like It:
We have been watching the homebuilders and construction stocks 
for a while now.  There has even been some discussion in the 
office on whether or not the recent rallies in these stocks are 
sustainable or are they a bubble.  One might think that in what 
should be beginning of an economic turnaround that the home 
builders and construction companies should do well.  Part of the 
argument is that the low interest rate environment should and has 
been the major catalyst for new and existing home sales and 
refinances but this trend could be running out of steam.  I won't 
argue that the majority of refinances have probably been done 
already but in the paper the other day we noted that a 30-year 
mortgage had slipped to 6.8%.  This is an incredible carrot to 
purchase a home now but the memory of recent layoffs and job 
security can still fuel lingering doubts in our collective 
conscious.  Besides, while we don't expect the Fed to raise rates 
any time soon we seriously doubt they will lower them again as 
the next move in monetary policy is likely to be a rate hike once 
the economic rebound gathers more steam.

We like CTX because the Monday rally helped push the stock over 
the $60 level of resistance.  The move came on strong volume of 
almost 2 million shares versus the average of just 940K.  Money 
could continue to rotate into the homebuilders since they benefit 
from any up-tick in the economy and this company, CTX, should 
offer decent earnings - at least based on their recent 
affirmation on Feb. 27th, 2002.  We're choosing to place CTX in 
the high-risk/reward section because if the group is subject to a 
downturn the stock doesn't look quite as overbought as some of 
its sector-mates.  Part of what we do like in CTX was the 
intraday trading action on Monday.  The stock broke out over $60, 
traded to $62 and then retraced and bounced again at the $60 
level before closing.  Normally, one might have to wait for two 
or three sessions after a breakout to get the retest and bounce 
at new support/previous resistance.  CTX did it all in one day.  
Ultra-conservative traders could try and play this with a stop 
just underneath $60.00 but we're going to give it a little bit 
more room with a stop at $57.39.  Our short-term target is $65 to 
$66 and our expectation is this could be a quick in and out kind 
of play but we're not going to put a time limit on it just yet.

Picked on March 4th at $61.32 
Gain since picked:      +0.00
Earnings Date        01/23/02 (confirmed)






=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

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

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

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


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



PremierInvestor.net Newsletter                  Monday 03-04-2002
                                                   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/c04b_2.asp
=================================================================

In section two:

StockBottom Non-tech Stocks
  New Bullish Plays:      ZLC
  Stop Adjustment Update: CNF, USFC
  Closed Bearish Plays:   LEH

High Risk/High Reward
  New Bullish Plays:      CTX
  Stop Adjustment Update: AMZN


Split Trader
  Announcements:           TOL: 2-for-1 split announcement
                           ICUI: 2-for-1 split announcement
                           DHI: 2-for-1 split announcement


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)


=================================================================
AT Active Trader/Non-tech plays
=================================================================

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

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

Zale Corp. - ZLC - close: 44.99 change: +0.79 stop: 42.89

Company Description:
Zale Corporation is North America's largest specialty retailer of 
fine jewelry operating more than 2,300 retail locations 
throughout the United States, Canada and Puerto Rico, as well as 
online. Zale Corporation's brands include Zales Jewelers, Zales 
Outlet, Zale Direct at www.zales.com, Gordon's Jewelers, Bailey 
Banks & Biddle Fine Jewelers, Peoples Jewellers, Mappins 
Jewellers and Piercing Pagoda. (source: company press release)

Why We Like It:
Investors have enjoyed a pretty powerful ride in shares of ZLC 
since its late September lows near $25.  After topping out near 
$46 in late January the stock retreated about 9% from its highs 
before bulls started buying the stock again.  Now that shares 
have been building on higher lows the recent market bullishness 
has helped propel shares to the $45 level of resistance that has 
held for the last month.  It is okay to question the validity of 
buying a jewelry seller in a weak economy since it would be an 
easy assumption that luxury items might suffer as layoffs and job 
security still plague the American workforce.  Well, they may not 
be so prevalent now but they still exist in the back of our 
minds.  

Back in mid-February the company announced its Q2 sales, which 
were stronger but many believed the gains were inspired by 
sentimental gift buying fueled by the September 11th attack.  
What perplexes us even more is that buyers are stepping in again 
even though the company has said that sales appear to be flat 
through the rest of the year (if not down).  This does look more 
like a trade based on positive technicals rather than 
fundamentals.  However, additional positive signs that an 
economic turnaround is indeed underway may have investors betting 
that ZLC might do better than current guidance suggests.  

If you're a regression channel fan then you might notice that the 
stock has been consolidating near the bottom edge of its 
ascending channel (we started our from early October).  The last 
couple of sessions have it poised for a breakout and another leg 
up could put the stock near the top of its channel near $50-$51.  
We also find the MACD very encouraging with the indicator curling 
higher after falling from overbought and now it appears a bullish 
crossover is nearly imminent.  The very strong volume today is 
also a positive sign that buying interest is picking up again.  
We will quickly point out that the stock has resistance near 
$45.90 (essentially $46.00) but we're betting that if it can bust 
out above the $45 level it can probably break through the $46 
level.  The point-and-figure chart is also bullish if not a 
little over-extended but its bullish price objective is north of 
$80.  Therefore we don't think it too unrealistic to target a 
move to $50.00.  We're going to start the play with a stop at 
42.89 but shares have to trade through our entry point first.  
What's our entry point?  We want ZLC to trade at or above $45.05 
before we enter the play.  

If we dust off our crystal ball and focus in on ZLC this is what 
we see.  The markets might rally higher in the morning on 
Tuesday.  This should give ZLC enough help to get above the $45 
mark.  However, with the Dow Jones up over 480 points and the 
Nasdaq up nearly 130 points in the last two days, we suspect that 
the rally will pause to catch its breath and profit taking may 
ensue for the second half of the day.  If this occurs then ZLC, 
wherever it is at the time ($45.50 to $46.00) might fall back and 
hopefully the $45 level will act as support.  If not, then the 
$44.00 level should be strong.  Our stop at $42.85 is about 5% 
from our entry price so we're not willing to risk too much.  
There are multiple ways to enter the bullish trade.  Investors 
may want to wait for shares to trade (or close) above $45, or 
wait for the dip-bounce when the broader markets take a step 
back.  Very conservative traders might want to wait for the stock 
to conquer $46 but don't do it if shares look too overextended.  
If you're reading this in the newsletter, check out the website 
as we've posted an annotated chart of ZLC to better illustrate 
what we see.

Picked on March Xth at $xx.xx <- see trigger.
Gain since picked:      +0.00
Earnings Date        May  /02 (unconfirmed)






===================
AT Stop Adjustments
===================

Bullish Plays
-------------

CNF Inc. - CNF - close: 33.55 change: +1.15 stop: 31.94 (new)

The Dow Transports (TRAN) continued to lead the market higher 
today, tacking on an astonishing 152 point gain or +5.27% to 
close at levels not seen since January of last year.  This 
breakout puts the sector above the double top formed last year 
near 3000 in May and July.  CNF also performed well rising 3.54% 
on very high volume of 625,800 shares versus the average of 
323,700 shares.  In light of this move, we’re raising our stop 
tonight in order to protect profits.  This new stop is located at 
$31.94, which would lock in a 5% gain but still allow the stock 
to dip back to $32, a level that should now act as support.

Picked on February 22nd at $30.41
Gain since picked:          +3.14
Earnings Date            01/28/02 (confirmed)




---

USFreightways - USFC - close: 38.95 change: +1.11 stop: 36.49 *new*

We wrote up this play on USFC with a trigger at $38.26 in order 
to confirm conviction on the part of the bulls.  Shares gapped up 
above that trigger this morning, thus initiating our play at 
$39.01.  Considering the unusual size of the gap ($1.17), we’re 
not surprised that the rest of the day saw shares trade in a 
narrow range between $38.35-$39.00.  If market strength 
continues, we’d look for USFC to head to $40.  However, given the 
size of the broad market rally in the Dow Jones and the Nasdaq we 
feel that the markets are likely to pull back tomorrow due to 
normal profit taking.  This will probably lead USFC back to the 
$38 level and a bounce here would be a very attractive entry 
point.  Be patient and look for the dip.  We are raising our stop 
to $36.49 since our entry price is higher than expected.

Picked on March 4th at $39.01
Gain since picked:      -0.06
Earnings Date         01/30/02 (confirmed)





===============
AT Closed Play
===============

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

Lehman Brothers - LEH - close: 61.63 change: +4.41 stop: 58.03

Someone forgot to tell the financials to rally on Friday, but today 
they quickly caught up with the broader market.  The delayed 
reaction may be a result of persistent credit and accounting worries 
finally giving way to the overall positive economic outlook that has 
been fueling a rise in the broader market.  This optimism was enough 
to launch the XDB.X broker/dealer index nearly 7%, while LEH shot 
above its recent resistance at $58 to close at 61.63.  Fortunately, 
our stop was set just above resistance of $58 at $58.03, which took 
us out at break-even.  LEH has some congestion at current levels, but 
the XBD.X closed above historical and psychological resistance at 
$500, which also coincides with the 50-dma.  Additionally, today’s 
move shot the index above both the 100 and 200 dma’s.  Given this 
rampant bullishness, we’re glad to have been stopped out of this short 
play without a loss and won’t reconsider a bearish play on this sector 
until we see some serious evidence of a rollover.

Picked on February 15th at $58.03
Gain since picked:          +0.00 breakeven
Earnings Date            12/20/01 (confirmed)






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

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

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

Centex Corp - CTX - close: 61.32 change: +2.68 stop: 57.39

Company Description:
Centex Homes is a subsidiary of Dallas-based Centex Corporation), 
and was recently named one of "America's Most Admired Companies" 
by FORTUNE magazine. Centex Corp., through its subsidiaries, 
ranks as one of the nation's largest non-bank-affiliated retail 
mortgage loan originators and a leading general building 
contractor. Centex Corp. also has operations in investment real 
estate and home services and owns a majority interest in a 
publicly held construction products company. 
(source: company press release)

Why We Like It:
We have been watching the homebuilders and construction stocks 
for a while now.  There has even been some discussion in the 
office on whether or not the recent rallies in these stocks are 
sustainable or are they a bubble.  One might think that in what 
should be beginning of an economic turnaround that the home 
builders and construction companies should do well.  Part of the 
argument is that the low interest rate environment should and has 
been the major catalyst for new and existing home sales and 
refinances but this trend could be running out of steam.  I won't 
argue that the majority of refinances have probably been done 
already but in the paper the other day we noted that a 30-year 
mortgage had slipped to 6.8%.  This is an incredible carrot to 
purchase a home now but the memory of recent layoffs and job 
security can still fuel lingering doubts in our collective 
conscious.  Besides, while we don't expect the Fed to raise rates 
any time soon we seriously doubt they will lower them again as 
the next move in monetary policy is likely to be a rate hike once 
the economic rebound gathers more steam.

We like CTX because the Monday rally helped push the stock over 
the $60 level of resistance.  The move came on strong volume of 
almost 2 million shares versus the average of just 940K.  Money 
could continue to rotate into the homebuilders since they benefit 
from any up-tick in the economy and this company, CTX, should 
offer decent earnings - at least based on their recent 
affirmation on Feb. 27th, 2002.  We're choosing to place CTX in 
the high-risk/reward section because if the group is subject to a 
downturn the stock doesn't look quite as overbought as some of 
its sector-mates.  Part of what we do like in CTX was the 
intraday trading action on Monday.  The stock broke out over $60, 
traded to $62 and then retraced and bounced again at the $60 
level before closing.  Normally, one might have to wait for two 
or three sessions after a breakout to get the retest and bounce 
at new support/previous resistance.  CTX did it all in one day.  
Ultra-conservative traders could try and play this with a stop 
just underneath $60.00 but we're going to give it a little bit 
more room with a stop at $57.39.  Our short-term target is $65 to 
$66 and our expectation is this could be a quick in and out kind 
of play but we're not going to put a time limit on it just yet.

Picked on March 4th at $61.32 
Gain since picked:      +0.00
Earnings Date        01/23/02 (confirmed)






===================
HR Stop Adjustments
===================

Bullish Plays
-------------

Amazon.com - AMZN - close: 16.48 change: +1.09 stop: 15.84 *new*

When you’re long on AMZN, it sure doesn’t hurt for the Internet 
Index (IIX.X) to rally almost 7%.  That sector strength was more 
than enough to push shares over recent highs at $15.77, as AMZN 
mirrored the Internet strength and added 7.08%.  However, the 
RLX.X retail index only managed a 0.43% gain today, which may 
portend some consolidation in that group.  The NASDAQ is looking 
overbought as well and a round of profit taking could occur at 
any moment.  With that in mind, we’re raising our stop to $15.84, 
which should protect a 10% gain from where we initiated this 
play.

Picked on February 26th at $14.40
Gain since picked:          +2.08
Earnings Date            12/31/01 (confirmed)






=================================================================
Split Trader / Stock Splits (ST) section
==================================================================

-------------------
Split Announcements
-------------------

Toll Brothers Builds 2-for-1

Luxury homebuilder, Toll Brothers, Inc. (NYSE:TOL) announced 
before the opening bell this morning a 2-for-1 stock split.  
Shares have appreciated greatly in recent sessions as the 
homebuilding sector has seen a lot of buying interest with renewed 
belief in an economic turnaround underway.

The shareholder record date for the split, which will take place 
as a stock dividend, is March 14th, 2002.  The payable date for 
the split is March 28th, 2002.  Due to the market holiday on 
Friday, March 29th, we expect shares to begin trading at their 
post-split price on Monday, April 1st.

This 2-for-1 split will increase TOL's shares outstanding from 
34.9 million to almost 70 million shares.  

The stock closed at $50.05 on Friday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=TOL


About the company
Toll Brothers is the only publicly traded national home builder to 
have won all three of the industry's highest honors: America's 
Best Builder from the National Association of Home Builders, the 
National Housing Quality Award and Builder of the Year. (source: 
company press release)


----------


ICUI Announces 3-for-2 Split

ICU Medical, Inc. (Nasdaq:ICUI) announced before the bell this 
morning that the company will declare a 3-for-2 stock split or a 
50% stock dividend.  Shares had appreciated over 20% YTD closing 
at $53.53 on Friday, March 1st, 2002.

The shareholder record date for the split (stock dividend) will be 
March 11th, 2002.  The payable date is March 15th and we would 
expect ICUI to begin trading at its post-split price on Monday, 
March 18th.  The company said cash will be paid for fractional 
shares.

The stock closed at $53.53 on Friday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=ICUI


About the company
ICU Medical continues to lead the trends in safe I.V. therapy 
product technology with innovative products as its President and 
CEO, George A. Lopez, MD envisioned almost 16 years ago. Built on 
landmark safe needle and needleless technologies, the company 
enjoys the success of a number of proprietary products with vast 
applications across health care.  Today, with a market value in 
excess of $180 million and record profits, ICU Medical is once 
again claiming its place as a leader in the development of safe, 
proprietary, disposable medical systems for intravenous therapy 
applications. (source: company website)


----------

Another Builder, Another Split (DHI)

The second homebuilder to announce a stock split today is D.R. 
Horton, Inc (NYSE:DHI).  Midday, during the market, DHI put out a 
press release stating that its Board of Directors had approved a 
3-for-2 stock split in the form of a 50% stock dividend.

The shareholder record date will be March 26th, 2002.  The payable 
date for the stock dividend (split) will be April 9th, 2002.  
Thus, we expect shares of DHI to trade at its new post-split price 
on Wednesday, April 10th, 2002.

This 3-for-2 split should bump shares outstanding to almost 146 
million for DHI.  

The stock closed at $40.58 on Friday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=DHI


About the company
Founded in 1978, D.R. Horton, Inc. is engaged in the construction 
and sale of high quality homes designed principally for the entry-
level and first time move-up markets. D.R. Horton currently builds 
and sells homes under the D.R. Horton, Arappco, Cambridge, 
Continental, Dietz-Crane, Dobson, Emerald, Mareli, Melody, 
Milburn, Regency, Schuler, SGS Communities, Stafford, Torrey, 
Trimark, and Western Pacific names in 21 states and 42 markets, 
with a geographic presence in the Midwest, Mid-Atlantic, 
Southeast, Southwest and Western regions of the United States. The 
Company also provides mortgage financing and title services for 
homebuyers through its mortgage and title subsidiaries. (source: 
company press release)





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

NTT     Nippon Telephone (ADR)     17.92     +1.32
MWD     Morgan Stanley Dean Witter 53.75     +3.51
DD      Dupont                     48.65     +0.79
AXA     Axa                        20.73     +1.71

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

TSM     Taiwan Semiconductor       19.11     +1.70
FLEX    Flextronics Intl. Ltd      17.20     +2.11
JNPR    Juniper Networks           11.73     +1.90
IGL     IMC Global Inc             15.25     +1.33
NWAC    Northwest Airlines         19.08     +2.04

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

BAC     Bank of America            66.40     +1.60
HBC     HSBC Holdings              59.77     +2.87
UBS     UBS Ag                     48.20     +1.51
SNE     Sony Corp                  50.70     +2.90
GM      General Motors             58.70     +3.73

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

KFT     Kraft Foods Inc            36.45     -2.53
UNH     UnitedHealth Group Inc     68.13     -3.12
GIS     General Mills Inc          44.00     -1.94
WLP     Wellpoint Health Network  115.74     -5.76
URBN    Urban Outfitters Inc       22.01     -1.34

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

ATR     Aptar Group Inc            34.30     -0.28
ARRO    Arrow Intl. Inc            44.11     -1.39





=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

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

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

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


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




DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

To ensure you continue to receive email from Option Investor please add "support@optioninvestor.com"

Option Investor Inc
PO Box 630350
Littleton, CO 80163

E-Mail Format Newsletter Archives