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Daily Newsletter, Tuesday, 03/12/2002

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PremierInvestor.net Newsletter                 Tuesday 03-12-2002
                                                   section 1 of 2
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In section one:

Market Wrap:      Can retail sales cancel out telecom concerns?
Market Sentiment: The Bulls refuse to give in.
Play-of-the-Day:  Breakout Ahead?

-----------------------------------------------------------------
U.S. Market Numbers
-----------------------------------------------------------------
MARKET WRAP  (view in courier font for table alignment)
-----------------------------------------------------------------
      03-12-2002           High     Low     Volume Advance/Decline
DJIA    10632.35 + 21.11 10639.68 10510.91 1.31 bln   1544/1597
NASDAQ   1897.12 - 32.37  1899.01  1879.42 1.71 bln   1480/2059
S&P 100   591.09 -  0.64   591.73   584.84   Totals   3024/3656
S&P 500  1165.58 -  2.68  1168.26  1154.34             
RUS 2000  498.90 -  1.85   500.75   495.03
DJ TRANS 2994.81 - 22.25  3017.59  2967.14
VIX        21.95 -  0.42    23.14    21.31
VXN        43.03 +  0.98    44.48    42.71
TRIN        1.13 
PUT/CALL    0.65
-----------------------------------------------------------------

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

Can retail sales cancel out telecom concerns?

Telecom stocks took it on the chin today after telecom equipment 
maker Lucent Technologies (NYSE:LU) $5.60 -10.54 warned that its 
goal to achieve profitability would most likely be delayed into 
next year and that telecom service providers were still holding 
back capital expenditures, which were expected to help grow 
revenues.

Lucent Technology Chart - Daily Interval




Lucent's (LU) news that the telecom turnaround might not be as 
close at hand as previously thought had many telecom equipment 
stocks under pressure today.  The good news near-term was that 
shares of LU didn't trade a new 52-week low.  They say "all the 
bad news comes out at the bottom."  I'm just not sure all the 
"bad news" is out at this point, nor am I convinced the stock has 
found a bottom.  I'm not looking to trade Lucent (LU) long or 
short, but if a picture can tell a thousand words, then the chart 
of Lucent (LU) hints that there is still some time before the 
telecom equipment sector sees any improvement.

Nortel Networks Chart - Daily Interval




Fellow telecom equipment manufacturer Nortel Networks (NYSE:NT) 
didn't warn on earning's today, but Moody's lowered its rating on 
the company's long-term debt securities to Baa3 from Baa2 and the 
company's commercial paper to Prme3 from Prime2.  The downgrade 
on NT's debt reflect Moody's concerns that weakness in key end 
markets is likely to be deeper and more protracted (see Lucent's 
comments) than previously anticipated.  Moody's said their 
ratings remain on review for possible further downgrade.

Fiber optic-related stocks that depend on the equipment providers 
to drive demand for their products were under selling pressure as 
the Fiber Optic Index (FOP.X) fell 6% to 99.04.  In Friday's 
market wrap we talked about how this group is a "momentum" 
traders dream.  One stock I mentioned as a bullish candidate on 
Friday was shares of Juniper Networks (NASDAQ:JNPR) $13.57 -7.74.  
Friday's close was $13.31 and Monday found the stock gaining some 
upside to the $14.71 level, but today's "bad news" out of Lucent 
took some early March wind out of Juniper's sail.  

Juniper Networks Chart - Daily Interval




Call me "chicken," but I thought shares of Juniper (NASDAQ:JNPR) 
might be able to find some bullish momentum and offer an 
aggressive bull a decent trade this week.  Things were looking 
pretty good at yesterday's close of $14.71, but Lucent's outlook 
may take some wind out of Juniper's sails too.  Even though I 
profiled this stock in my market wrap on Friday for aggressive 
bulls looking for a short-term trade, I'd still raise a tight 
stop to break-even or just under Monday's low of $12.85.  I've 
also pointed out Monday's "spike higher" that looks similar to a 
past bump above the $14.46 level.  If the past is any indication 
of the future, then it makes more sense to raise a stop tight 
than relive a relatively painful decline back to the lows.  By 
raising a stop to break-even or tighter just under a previous 
day's low, an aggressive bull still gives the stock a chance to 
prove itself, but at the same time helps limit downside risk when 
a trading scenario doesn't play out as previously planned.

Not good, but not all that bad

The negativity from the telecom sector didn't help bulls today, 
but the damage seemed to be rather limited or at least the 
bearishness was targeted at the telecom-related sectors.

I've been keeping a close eye on General Electric (NYSE:GE) 
$41.10 -0.12% and after filing its 10-K on Friday, the stock 
continues to hover just under the $42 level.  The stock traded 
sideways today and yesterday and I would have thought under a 
bearish market tone like we saw earlier in today's session, that 
this Dow component might have seen more selling pressure.  That 
wasn't the case today.  This one stays on our bullish play list 
with a trader's trigger to go long at $42 (see play write up).

Tomorrow morning we're going to get some economic data and Retail 
Sales.  Last night I talked a little about Cummins (NYSE:CUM) 
$46.53 -0.64% and DaimlerChrysler (NYSE:DCX) $43.92 -0.27%.  Both 
stocks traded sideways today.  Depending on tomorrow morning's 
retail sales numbers, DaimlerChrysler (DCX) may be a stock to 
watch.  The retail sales number is reported in two parts.  One 
includes auto sales and the other excludes the auto sales numbers 
as they are bigger ticket items and dealer incentives can have an 
influence on sales numbers.

One stock a trader/investor might want to have a bullish eye on 
if the retail numbers are strong (excluding autos) is shares of 
Kohls (NYSE:KSS) $69.19 +1.09%.  This may be the classic "short 
it because it's rolling over" type of stock.  As I see it, the 
point/figure chart shows a bullish vertical count of $64 and a 
nice "triangle" formation presents itself.  A trade at $70 would 
be a "bullish triangle" and that's a high probability 
point/figure pattern for a bullish trader.  If the retail sales 
numbers are weak, then I don't think the stock would trade the 
$70 level.

Kohls Corp. (KSS) - $1 box




A bearish trader may also have KSS on his/her trade list for 
tomorrow, but I've gotten numerous e-mails from bearish traders 
in KSS wondering why the stock just won't break down.  One reason 
I can think of is that the stock just seems to be in favor and 
have its defenders.  Relative strength versus the broader S&P 500 
(SPX) is also more bullish.  This may well be one of those 
"March" stocks that some mutual fund managers have been adding to 
in order to "dress up" their portfolios before the end of the 4th 
quarter.  If the retail sales numbers are strong tomorrow 
morning, then a bull wearing something from Kohls (KSS) may just 
find a mink coat on the sale rack tomorrow morning with at trade 
at $70.  The retail sales numbers will be released at 08:30 AM 
EST, so we'll get a chance to "shop the number" before stocks 
open for trading.

Jeff Bailey
Senior Market Technician


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

The Bulls refuse to give in.
by Russ Moore

Two big name telecom warnings and a 3 percent slide in Mr. Softy 
failed to keep the DOW from climbing to its highest level of 
2002.

The blue chip index got off to a rocky start before recovering in 
the late going to post a modest gain of +0.2 percent. The NASDAQ 
was a different story as the index was unable to work off the 
telecom weakness and the negative analyst’s comments on 
Microsoft. The tech index finished the day with a loss of -1.7 
percent while the big cap NDX dropped -2.1 percent.

Volume remained soft with 1.30 billion shares moving on the big 
board and 1.72 billion on the NASDAQ. Losers outpaced winners by 
a 16/15 margin on the NYSE and 20/15 on the NASDAQ.

We’ve been talking a lot about volatility in recent articles so I 
thought we’d take a break from that subject and turn our 
attention to another area which we continue to monitor i.e. 
"corporate commitment".

We all know that the fund managers will be busy trying to bolster 
their end of quarter performances, and, that may lead to further 
upside in the next couple of weeks. We also know that the overall 
market sentiment has grown decidedly bullish, at least from the 
retail and analyst side. What we haven’t seen yet, is the 
commitment from corporate America. I know I’ve harped on this 
point in the past but I believe it is an extremely important 
piece of the recovery puzzle.

Sure, fund managers can prop things up for short periods of time 
however, without the dollar outlay from the corporate side, 
rallies will continue to be short-lived. 

Fund flow tracker, Trim Tabs, is saying much the same thing when 
it notes, "the trading float grows when either companies or 
insiders sell never before traded shares. The trading float 
shrinks via stock buybacks and cash takeovers". The company said 
that last week saw 4.6 billion in new offerings with only 497 
million in new cash takeovers and 235 million in stock buybacks. 
"Corporate investors are bearish and Wall Street strategists are 
bullish. There is no doubt that corporate investors have a much 
better record of predicting the future".


VIX
Tuesday 03/12 close: 21.31


VXN
Tuesday 03/12 close: 43.01


10-yr Bonds
Tuesday 03/12 close: 5.30


Total Put/Call Ratio:  .65


Equity Option Put/Call Ratio:  .54


Index Option Put/Call Ratio:  1.31


===

NASDAQ 100 Index (NDX/QQQ)
52-Week High: 103.51
52-Week Low:   28.19
Current close: 38.00

Volume/Open Interest
Maximum calls: 40/131,356
Maximum puts : 37/146,681

Moving Averages
 10 DMA 36
 20 DMA 36
 50 DMA 37
200 DMA 38

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: 591.09

Volume/Open Interest
Maximum calls: 600/6,883
Maximum puts : 560/7,589

Moving Averages
 10 DMA  581
 20 DMA  570
 50 DMA  573
200 DMA  588

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: 1165.58

Volume / Open Interest
Maximum calls: 1100/47,582
Maximum puts : 1100/56,257

Moving Averages
 10 DMA 1146
 20 DMA 1124
 50 DMA 1128
200 DMA 1149

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: 10,632.35

Volume / Open Interest
Maximum Calls: 100/18,036
Maximum Puts    96/41,141

Moving Averages:
 10 DMA 10,453
 20 DMA 10,202
 50 DMA 10,015
 200 DMA 10,017

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: 509.60

Volume / Open Interest
Maximum Calls: 520/987
Maximum Puts:  520/924

Moving Averages
 10 DMA 497
 20 DMA 497
 50 DMA 516
200 DMA 539

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: 605.50

Volume / Open Interest
Maximum Calls: 550/  713
Maximum Puts:  500/1,584

Moving Averages
 10 DMA 590
 20 DMA 565
 50 DMA 555
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: 386.81

Volume / Open Interest
Maximum Calls: 400/550
Maximum Puts:  380/800

Moving Averages
 10 DMA 386
 20 DMA 383
 50 DMA 379
200 DMA 388

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, 03/08. 
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 
02/19/02     355,905   772,569   (60,759)    5.5%
02/26/02     366,258   432,258   (66,000)    9.0%
03/05/02     361,254   445,989   (84,735)   28.4%

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
02/19/02       130,856    63,311    67,545     1.1%
02/26/02       139,183    62,087    77,096    14.1%
03/05/02       161,711    60,941   100,770    30.7%

Most bearish reading of the year:  36,513 - 5/01/01
Most bullish reading of the year: 100,770 - 3/05/02

NASDAQ-100
Commercials   Long      Short      Net     %Change 
02/19/02      33,871    35,690    (1,819)    (14.6%)
02/26/02      33,589    34,091      (502)    (72.0%)
03/05/02      37,549    35,419    (1,870)

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
02/19/02        9,966     8,073    1,893     18.8%
02/26/02        9,517    11,416   (1,899)  
03/05/02       11,961    11,214      747

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 
02/19/02      29,606    17,953   11,653     12.9%
02/26/02      33,322    21,110   12,212      4.8%
03/05/02      37,036    25,554   11,482     (6.0%)

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
02/19/02       4,654    10,431    (5,777)      5.5%
02/26/02       6,333    12,547    (6,214)      7.5%
03/05/02       6,589    13,057    (6,468)      4.1%

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        +100,770     +77,096        -84,735    -66,000

Total Open
Interest %       (+45.26%)  (+38.30%)      (-10.50%)   (-8.26%)
                 net-long   net-long       net-short  net-short


                     Small Specs             Commercials
DJIA futures     (Current) (Previous)    (Current) (Previous)
Open Interest
Net Value          -6,468     -6,214        +11,482   +12,212
Total Open
interest %       (-32.92%)    (-32.91)      (+17.59%)  (+22.43)
                 net-short   net-short       net-long    net-long


                     Small Spec              Commercials
NASDAQ 100      (Current) (Previous)    (Current) (Previous)
Open Interest
Net Value         +747      +1,899       -1,870     -502

Total Open
Interest %        (+3.22%)   (-9.07%)     (-2.71%) (-.74%)
                 net-long   net-short      net-short  net-short


What COT Data Tells Us
----------------------
Indices:.Last week I mentioned that a lack of commitment from the 
Commercial players i.e. a move in to accumulation mode, would 
make any rally suspect. Well folks, we got the move all right, 
but it’s not in the direction many people would expect. This week 
we have the Commercials adding substantially to their net-short 
positions. More importantly, the Small Specs were also adding 
large positions however; they were in long contracts. 

Remember we are looking for increased divergence between the 
big/small players. This week’s move should have anyone that is 
currently long the markets looking over their shoulder.

Gold:.It’s taken awhile, but maybe we’re finally starting to see 
why the Commercial players have maintained their short positions. 
The gold index (XAU) is starting to give back a little after 
enjoying a very nice run over the last couple of months. 

02/12 62,223 contracts net-short
02/19 60,054 contracts net-short
02/26 56,409 contracts net-short
03/05 58,666 contracts net-short

Data compiled as of Tuesday 03/05 by the CFTC.


===============
PLAY-of-the-Day
===============
(( New Bullish non-tech play ))


Kohls - KSS - close: 69.19 change: +0.75 stop: see text

Company Description:
Based in Menomonee Falls, Wis., Kohl's is a family-focused, value 
oriented specialty department store offering moderately priced 
national brand apparel, shoes, accessories and home products.
(source: company press release)

Why We Like It:
KSS is making the Play List tonight in anticipation of tomorrow 
morning's release of retail sales numbers.  Obviously retail 
stocks could trade higher if those numbers are well-received and 
KSS stands out as being a particularly good candidate to take 
advantage if the reaction is positive.  The stock is trading just 
under resistance at $70, which has been a lid on the share price 
for most of the year (2002).  The p-n-f chart also shows that KSS 
is threatening to break out of a bullish triangle, with a trade 
above $70 confirming the move.  We also like how the stochastics 
and MACD are heading higher with room to move.  Given the fact 
that we're basing this play on unknown economic data we're going 
to use a trigger.  If KSS trades at or above $70.50 we'll go long 
as this is above the January high at $70.49.  We'll initiate the 
play with a stop at $66.75.

Picked on March xth at $ xx.xx
Change since picked:     +0.00
Earnings Date         03/05/02 (confirmed)
 





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Do not duplicate or redistribute in any form.



PremierInvestor.net Newsletter                 Tuesday 03-12-2002
                                                   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/c12b_2.asp
=================================================================


In section two:

Net Bulls
  Bullish Play Updates: BBH, RIMM, MERQ, MONE

Stock Bottom / Active Trader
  New Bullish Play:     KSS
  Bullish Play Updates: COL, DOL, USFC, GE, OHP

High Risk / High Reward
  Bullish Play Updates: PVN
  Bearish Play Updates: ADLAC

Split Trader
                        NDN:  4-for-3 split announcement
                        ABM:  2-for-1 split announcement
                        YDNT: 3-for-2 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)


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

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

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

Biotech HOLDRs - BBH - close: 121.45 chg: -0.38 stop: 114.00

We're not much farther along after Tuesday's session than we were 
at Friday's close.  The BBH continues to trade in a range bound 
pattern but the good news is the ascending channel pattern is 
becoming more defined.  If the holders are going to keep building 
on its higher lows then we'd like to see it trade up from today's 
lows near $119.45.  This dip under 120 coincided with the BTK.X's 
dip to 501 today.  The BTK (closed: 509) continues to trade 
sideways as well with the channel forming between 500 and 520.  
Hopefully, we'll get a move soon one way or the other as the 
BTK's 50-dma (516), which has been acting as overhead resistance, 
is quickly approaching the index and traders might make a move 
one way or the other.  We're not surprised that the index and the 
holders are trading sideways.  We looked at charts for all the 
stocks that make up the holders' basket and all of them traded 
relatively flat except for HGSI, which was up 4.9%.  If you're 
still looking for an entry on the BBH this may be a good one but 
we'd probably recommend a tighter stop than the one we have 
listed in the newsletter.  Otherwise we're still waiting for that 
breakout over 125 for the next move higher.  FYI, the BBH 200-dma 
is at 124.50.

Picked on February 20th at $120.00
Gain since picked:           +1.45
Earnings Date                  N/A




---

Research In Motion - RIMM - cls: 29.29 chg: +1.14 stop: 26.49*new*

The point-and-figure bullish triangle breakout continues for 
shares of RIMM.  The stock pulled back to bounce off its 5-dma on 
Friday/Monday and Tuesday's session saw a 4% rally in the face of 
a negative day in the Nasdaq.  Volume was very strong for RIMM at 
4.4 million, which really helps confirm the bullish sentiment for 
the stock.  News for RIMM is still focused on its Blackberry roll 
out but initial reactions seem to be positive.  Traders that do 
not already have a position may want to wait and see if the stock 
can conquer the $30 level, which could be psychological 
resistance.  Of course extremely short-term traders may want to 
be looking for the exits as the stock approaches $30.  Dips to 
$28.00 or $28.50 could still be buyable but be sure to consider 
the broader market tone.  We are raising our stop to $26.49 but 
if you want to consider tightening yours up under Monday's low.  
Currently, Premier is up 7.2% in the play.

Picked on March 6th at   $27.32 
Change since picked:      +1.97
Earnings Date          04/09/02 (unconfirmed)




---

Mercury Interactive - MERQ - cls: 40.95 chg: -0.63 stop: 37.75

Yup, Mr. Bailey is really giving the stock picking staff a hard 
time today about MERQ.  He's trying to push RATL on us but we 
chose MERQ instead.  We like both stocks but RATL has yet to 
breakout above the $21.50 to $22.00 level of resistance.  On the 
other hand, MERQ broke above the $40 level of resistance on 
Monday and the pull back today back to $40 was exactly what we 
ordered for a favorable entry point in our initial write up.  
Confirm market direction and don't forget to add your stop, which 
by the way could probably be tighter than ours but we want to 
give MERQ enough room to maneuver if the Nasdaq sees more profit 
taking again.

Picked on March 11th at $41.58 
Change since picked:     -0.63
Earnings Date         01/22/02 (confirmed)




---

MatrixOne Inc - MONE - close: 14.20 chg: +0.10 stop: 12.46

We were very encouraged by the trading in MONE today as the stock 
confirmed Monday's move over the $14 level.  Incidentally, if you 
didn't read the Monday newsletter we were triggered in MONE on 
Monday when shares traded at $14.05.  Tuesday's performance was a 
little rocky as MONE gapped down with the Nasdaq's move lower but 
MONE was able to overcome this bearishness to close in the green.  
The MACD is looking very strong and about to cross the zero line.  
Bulls can be evaluating new entries but keep the $15.00 to $15.25 
level in your sites as possible resistance.  Fortunately, we 
don't expect $15.00 to be a serious threat (at this time).  By 
the way, if you were looking for a dip to $13, the low at $13.30 
may have been your chance today.

Picked on March 11th at $14.05
Gain since picked:       +0.15
Earnings Date         01/23/02 (confirmed)






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

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

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

Kohls - KSS - close: 69.19 change: +0.75 stop: see text

Company Description:
Based in Menomonee Falls, Wis., Kohl's is a family-focused, value 
oriented specialty department store offering moderately priced 
national brand apparel, shoes, accessories and home products.
(source: company press release)

Why We Like It:
KSS is making the Play List tonight in anticipation of tomorrow 
morning's release of retail sales numbers.  Obviously retail 
stocks could trade higher if those numbers are well-received and 
KSS stands out as being a particularly good candidate to take 
advantage if the reaction is positive.  The stock is trading just 
under resistance at $70, which has been a lid on the share price 
for most of the year (2002).  The p-n-f chart also shows that KSS 
is threatening to break out of a bullish triangle, with a trade 
above $70 confirming the move.  We also like how the stochastics 
and MACD are heading higher with room to move.  Given the fact 
that we're basing this play on unknown economic data we're going 
to use a trigger.  If KSS trades at or above $70.50 we'll go long 
as this is above the January high at $70.49.  We'll initiate the 
play with a stop at $66.75.

Picked on March xth at $ xx.xx
Change since picked:     +0.00
Earnings Date         03/05/02 (confirmed)
 




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

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

Rockwell Collins - COL - close: 23.96 change: -1.27 stop: 22.75

COL had been consolidating near $24, which coincides with its 
initial spin-off price.  Then Monday's trading saw shares break 
above that level and add 4.5% on strong volume to close at 
$25.23.  That's an unusually large one-day move for COL and thus 
we weren't too surprised to see the stock move back today on some 
profit taking.  We were hoping to see another close above $24 but 
unfortunately an afternoon sell-off dropped the stock to $23.96.  
Today's decline could be due to rumors that Loral Space (LOR) may 
be a takeover target.  COL wasn't specifically implicated as a 
possible buyer, but nervous investors may have bailed out anyway.  
If today's pullback continues we'd look for support near $23.75 
to $23.50. Traders still looking for an entry may want to 
consider entries on a dip to this level or wait for a move back 
over $24.  Due to the recent gains we raised our stop to $22.75 
in Monday's newsletter, which is a quarter above our initial 
entry point.

Picked on February 15th at $22.50
Gain since picked:          +1.46
Earnings Date            04/17/02 (unconfirmed)




---

Dole Food CO. - DOL - close: 29.96 change: +0.04 stop: 28.49

Did someone forget to tell investors that DOL was trading today?  
Volume was the lowest in nearly two months, coming in at a tepid 
123K compared to the 303K average.  As you might expect the stock 
also traded in a small range of just 37 cents.  The indecision 
and lack of conviction could be attributed to the way shares have 
been coiling under resistance at $30.  We'd avoid opening any new 
positions until DOL closes above $30, and other investors likely 
feel the same way.  On the other hand, there don't appear to be 
many sellers.  It's encouraging to note that the daily 
stochastics appear to be curling higher after topping out above 
the 80% level last week.  Today's move up into the close is also 
positive, but as mentioned above we'd recommend waiting for a 
close over $30 before considering any new positions.

Picked on March 1st at $30.94
Gain since picked:      -0.98
Earnings Date        01/31/02 (confirmed)




---

USFreightways - USFC - close: 38.80 change: +0.20 stop: 36.49

We've been waiting for almost a week to see if the range-bound 
Dow Transports (TRAN) would break up or down.  Our wait ended 
today, as a 0.73% loss moved the index below recent support at 
3000.  Fortunately for this play, USFC continued its trend of 
outperforming the TRAN.  Technically the stock looks very strong 
after breaking over resistance at $38, pulling back to retest 
that level (multiple times), and then heading higher.  Given the 
pattern of relative strength, it stands to reason that if the 
TRAN heads back over 3000, USFC could lead the way.  Buyers are 
supporting the stock at $38 but sellers have a lid on it at 
$39.20 for the moment.

Picked on March 4th at $39.01
Gain since picked:      -0.21
Earnings Date        01/30/02 (confirmed)




--- 

General Electric - GE - close: 41.10 change: -0.05 stop: see text

Still waiting.  GE has traded in a narrow range since this week 
without threatening to either break below support at $40 or 
resistance at $42.  It's not the most exciting thing to watch, 
but we had this in mind when we initiated the play with a trigger 
at $42.05.  Hopefully when GE finally does crack resistance we'll 
get some real upside movement.  Although today's trading was 
somewhat lackluster, we did like how shares moved up with the Dow 
Jones as the day progressed and closed just below the 200-dma.

Picked on March xth at $xx.xx <- See text
Gain since picked:       0.00
Earnings Date        01/17/02 (confirmed)




---

Oxford Health - OHP - close: 39.19 change: +0.03 stop: 35.90

So far, so good.  OHP started the week by gapping above its 20-
dma and quickly moved above Friday's highs near $39. Today's gain 
was fractional, but we're not going to complain about another 
higher close.  The HMO.X healthcare index has traded in a similar 
fashion and could be headed for a test of historical and 
psychological resistance at 500.  Such a move could have OHP 
challenging its 52-week high at $40.95, but first we'll need to 
see a move over its own psychological resistance at $40.  The 
MACD is on the verge of producing a bullish crossover, which 
could portend a move higher.  However, in light of the resistance 
levels overhead traders may want to wait for shares to pullback 
to the $38.50 area before considering an entry.

Picked on March 8th at $38.55
Gain since picked       +0.64
Earnings Date        02/05/02 (confirmed)






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

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

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

Providian Financial - PVN - close: 5.90 change: -0.24 stop: 4.85

The BIX.X (682) moved higher over the past two sessions and thus 
far hasn't had any trouble with long-term resistance near 680 but 
it's still too close to call it a strong breakout.  From here, a 
move above 687 would mark highs not seen since 1999.  Closer to 
home, we knew PVN could be volatile due to its low price, and 
that was certainly the case with yesterday's 7.5% gain as shares 
gapped higher and continued to move up until topping out near 
$6.30.  Today the stock pulled back on lower volume to digest 
some of those gains.  Believe it or not, PVN's move lower this 
morning was a perfect fill in of the gap from Monday's open.  
While the stock looks short-term overbought it could continue to 
run higher on momentum but will likely be pushed or pulled with 
any major move in the banking indices.  A move to $5.50 would not 
be unexpected and a bounce there might be a potential entry.    
 
Picked on March 8th at $5.71
Change since picked:   +0.19
Earnings Date       02/07/02 (confirmed)
 




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

Adelphia Communications - ADLAC - cls: 24.26 chg: -0.59 stop: 25.76
 
Telecom and wireless weakness were the themes for the day after 
profit warnings from LU and NOK, but the negativity wasn't 
confined to just those sectors.  ADLAC followed the NASDAQ lower 
and finally dipped far enough to trigger our entry point at 
$23.99.  Shares managed a small bounce from that level but still 
look weak.  After trading through the 100-dma, the stock faltered 
at the 50-dma and fell back below both levels.  We find it 
interesting that volume has been steadily tapering off over the 
past four sessions, indicating a general lack of interest at 
current levels.  Obviously our first obstacle is a move back 
below $24.  Aggressive traders could consider jumping on should 
that occur.  Now that we've been triggered our stop is a penny 
above the $25.75, which was Friday's intraday high.  We do want 
to confirm that this play is not for everyone.  We readily admit 
that the stock should be trading much lower, especially 
considered the puzzling reports about its cable swap transactions 
with CMCSK in a post-Enron era.  Why shares have been so strong 
is a mystery and the support ADLAC showed at $24 today is 
troubling if I am a bear about to risk a short trade.

Picked on March 12th at $23.99 
Gain since picked:       -0.27
Earnings Date         03/29/02 (unconfirmed)






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

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

NDN Announces 5th Split in 5 Years.

This morning before the bell the 99 Cents Only Stores (NYSE:NDN) 
released news that their Board of Directors had approved a 4-for-3 
stock split of its common stock.

The shareholder record date will be March 25th, 2002 and the split 
is payable on April 3rd, 2002.  We would expect shares to begin 
trading at their post-split price on Thursday, April 4th.

Fractional shares resulting from the split will be paid in cash 
based on the closing price as of the record date.  Post-split, NDN 
will have almost 70 million shares outstanding.

The company has a history of stock splits with most of them being 
5:4 or 4:3.  NDN's last split was a 3-for-2 in early 2001 near the 
$37 level.

The stock closed at $34.76 on Monday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=NDN


About the company
99 Cents Only Stores®, the nation's oldest existing one-price 
retailer, operates 130 retail stores in Southern and Central 
California, Nevada and Arizona and a wholesale division called 
Bargain Wholesale. 99 Cents Only Stores® emphasizes name-brand 
consumables, priced at an excellent value, in its clean 
attractively merchandised stores. (source: company press release)


-----


Services Giant ABM Announces 2-for-1

Most of the market had expected ABM Industries Inc. (NYSE:ABM) to 
announce its first quarter earnings after the closing bell today.  
For some reason they chose not to wait and released their results 
during the market.  Q1 results showed a 1% increase in revenues 
over the same period last but net income was down 5% with the 
company citing loss of business due to the September 11th attacks.

A short while after their earnings release was out the company 
also announced a 2-for-1 stock split.  The Board of Directors had 
a approved the 2:1 in the form of a stock dividend for 
shareholders on record as of March 29th, 2002.  The distribution 
date is scheduled for Monday, May 6th, 2002.

The company does not have a big history of stock splits with only 
two in the last ten years.  The last split was a 2-for-1 in 1996 
near the $40 level.  After the new split takes affect, ABM should 
have about 48.7 million shares outstanding.

The Board also declared a quarterly cash dividend of $0.18 a share 
on a pre-split basis to be paid on May 3rd, 2002 for shareholders 
on record as of March 29th, 2002.

The stock closed at $33.08 on Monday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=ABM


About the company
ABM Industries Incorporated is the largest facility services 
contractor listed on the New York Stock Exchange. With annualized 
revenues in excess of $1.9 billion and more than 60,000 employees, 
ABM provides air conditioning, elevator, engineering, janitorial, 
lighting, parking, security and related services to thousands of 
commercial, industrial, institutional and retail facilities in 
hundreds of cities across North America. The ABM Family of 
Services includes American Building Maintenance, Ampco System 
Parking, American Commercial Security (ACSS), Amtech Elevator, 
Amtech Lighting, ABM Engineering, ABM Janitorial, and CommAir 
Mechanical. (source: company press release)


-----

Young Innovations Offers Investors 3-for-2 Split

An hour after the market closed this evening, Young Innovations, 
Inc. (Nasdaq:YDNT) announced a 3-for-2 stock split.  Its Board of 
Directors has declared the split for shareholders on record as of 
March 22nd, 2002.  Fractional shares resulting from the split 
will be paid in cash based on the closing price as of the record 
date. The payable date for the split will be March 28th, 2002.

This marks the first split since YDNT began trading in 1997.  YTD 
its been performing quite well, but be aware that shares trade on 
very low average volume of 10.5K, making potential trades a high-
risk endeavor.  

The stock closed at $29.93 on Tuesday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=YDNT


About the company
Young Innovations develops, manufactures and markets supplies and 
equipment used by dentists and dental hygienists and consumers. 
The Company believes it is the leading manufacturer of prophylaxis 
angles and cups (used in teeth cleaning and polishing procedures) 
and distributor of panoramic x-ray equipment in the United States. 
The Company also offers a line of dental handpieces (drills), 
prophy pastes, fluorides and infection control products, 
orthodontic tools and brushes, flavored gloves used in the dental 
office as well as children's toothbrushes and toothpastes used for 
home care.  (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 

PNC     PNC Financial Services     59.73     +0.84
UCL     Unocal Corp                38.44     +0.52
MRO     Marathon Oil Group         29.47     +0.70

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

DMRC    Digimarc Corp              18.02     +1.11
VVUS    Vivus Inc                   9.40     +1.65
JWL     Whitehall Jewellers        15.91     +1.01
VISG    Viisage Technologies        7.25     +1.41

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

UB      Unionbancal Corp           41.91     +1.72
MYG     Maytag Corp                45.30     +4.63
ACF     Americredit Corp           38.31     +3.46
RIMM    Research In Motion Ltd     29.29     +1.14
FS      Four Seasons Hotels Inc    56.62     +1.27

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

DRI     Darden Restaurants         37.41     -1.39
CDWC    CDW Computer Centers       55.09     -2.88
BRO     Brown & Brown              30.26     -1.14
GOSHA   Oshkosh B'gosh             37.50     -1.50

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

DV      Devry Inc                  33.48     -0.15
JWA     John Wiley & Sons          25.40     -0.14
FSS     Federal Signal Corp        25.50     -0.75




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