PremierInvestor.net Newsletter Monday 03-18-2002 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/c18b_1.asp ================================================================= In section one: Market Wrap: Ahead of the Fed Watch List: UVN, RYL, FBN, AMAT and CAH (again) Play of the Day: No play. We're waiting on the FOMC. ----------------------------------------------------------------- U.S. Market Numbers ----------------------------------------------------------------- MARKET WRAP (view in courier font for table alignment) ----------------------------------------------------------------- 03-18-2002 High Low Volume Advance/Decline DJIA 10577.75 - 29.48 10661.06 10525.03 1.15 bln 1770/1396 NASDAQ 1877.06 + 8.76 1893.26 1861.11 1.55 bln 1943/1589 S&P 100 589.63 - 1.50 594.66 586.50 Totals 3713/2985 S&P 500 1165.55 - 0.61 1172.73 1159.14 RUS 2000 502.80 + 3.68 503.55 498.68 DJ TRANS 2947.89 - 3.65 2962.30 2907.33 VIX 20.75 - 0.02 21.89 20.42 VXN 38.75 - 1.51 39.85 38.21 TRIN 1.11 PUT/CALL 0.64 ----------------------------------------------------------------- =========== Market Wrap =========== Ahead of the Fed The major equity averages finished mixed in Monday's session. The sector-by-sector breakdown revealed a similar picture of indecision on the part of market participants ahead of the Federal Reserve meeting Tuesday. Average Averages The Dow Jones Industrial Average ($INDU) closed at 10577, lower by 29.48 points, or 0.27 percent. The INDU traded in about a 125 point range in Monday's session, neither breaking above short-term resistance nor breaking below short-term support. Within the INDU, leading components included Hewlett-Packard (NYSE:HWP), ahead of its vote on the pending merger with Compaq (NYSE:CPQ), Disney (NYSE:DIS), Procter & Gamble (NYSE:PG), 3M (NYSE:MMM), and General Motors (NYSE:GM). Laggards included J.P. Morgan Chase (NYSE:JPM), Merck (NYSE:MRK), Phillip Morris (NYSE:MO), and Caterpillar (NYSE:CAT). The S&P 500 (SPX.X) finished the day at 1165, only fractionally lower from its Friday close. The index traded up to but failed to breakout above the 1170 resistance area for the eighth time in about four months. It's growing increasingly obvious that the next hurdle for the SPX is, in fact, at 1170. We've done some retracement work on the SPX. In the particular retracement bracket that we've been using, the 61.8 percent retracement level rests at 1170. The upper-end of the bracket we're using is anchored at last May's highs up around the 1315 level, while the lower-end of the bracket is anchored at last September's low down around 940. Resistance at Retracement The SPX has, essentially, been trading sideways for the last four months, consolidating between the 1085 retracement level and the current resistance barrier, 1170. With the passage of four months and sideways price action, a breakout from the 1170 level may very well be sustainable, but it has yet to occur. A breakout would come on an advance past the 1180 level. Meanwhile, the Dow Jones Transportation Index ($TRAN) finished fractionally lower, echoing the sentiment in the INDU. The TRAN has spent the last three trading days gyrating below the 3000 level, which was an important resistance level that was broken about two weeks ago. Given its run through February, the recent action in the TRAN can be considered as normal consolidation. In today's trading, the TRAN's components were mixed, with strength in airline issues and weakness in the trucking and rail stocks. Percent gainers included U.S. Airways (NYSE:U), United (NYSE:UAL), Northwest (NYSE:NWAC), and GATX (NYSE:GMT). Weakness was seen in Airborne (NYSE:ABF), CSX (NYSE:CSX), Union Pacific (NYSE:UNP), and Delta (NYSE:DAL). The Nasdaq-100 (NDX.X) was the only average of the four majors we track to finish in positive territory. The NDX finished at 1505, higher by 10.48 points, or 0.70 percent. Most components of the NDX finished higher in Monday's session. The only real sign of weakness within the index was found among networking and hardware components, such as JDS Uniphase (NASDAQ:JDSU), Comverse Technology (NASDAQ:CMVT), QLogic (NASDAQ:QLGC), Brocade (NASDAQ:BRCD), and Network Appliance (NASDAQ:NTAP). Buried Treasury Treasuries finished higher across the curve in Monday's session, pressuring yields lower. Buying was apparent in the Ten Year Note, whose yield finished at 5.304%. The Ten Year Yield (TNX.X) is coming off of a big two week move which culminated with an advance past the 5.400% mark last Friday following the release of the consumer sentiment data. The recent run-up in yield (sell-off in bonds) may require some consolidation. That could explain the relief rally today ahead of the Federal Reserve's meeting tomorrow. Greenspamming Given the slew of positive economic data and comments from the head of the Fed, market participants are guessing that the Fed no longer sees risks pointed to the downside. While the market isn't expecting any action from the Fed tomorrow in terms of movement in short-term rates, the market is expecting to get guidance on the future actions of the Federal Reserve. Moreover, the market wants to hear about the progress of the U.S. economic recovery currently underway. The consensus expectation going into tomorrow's meeting is for the Fed to shift its so-called stance from easing to neutral. The shift, if it comes, would follow what the bond market has been foreshadowing. Indeed, the Fed Funds Futures are pricing in a 75 percent chance of short-term rates rising to 2 percent by the May meeting. Those rates currently rest at a 40 year low at 1.75 percent. Though a shift to a neutral stance is highly expected, it remains to be seen how market participants will react to such news if, in fact, the Fed does shift to neutral. Readers would do well to monitor interest rate sensitive stocks in the Savings & Loan and Housing markets to help determine how the market reacts to the Fed's comments. Cornucopia of Capital The ebb and flow from sector to sector Monday was choppy. Interest rate sensitive names in the housing segment under performed the major averages, while technology and energy caught a bid. Gold (XAU.X), however, glittered like...well... gold. The XAU.X, a measure of gold equities, finished 4.61 percent higher, making it the day's best performing sector. Bullion Bid The XAU.X was boosted by the bid in the commodity. Spot gold (GC02J) finished about $2 higher to $292.30. Since the two typically move in tandem, we're going to take a closer look that the underlying technicals in gold. The most recent rally in gold began in early February, when the commodity leapt from the $280 per ounce level, through the ever-critical $300 level, finishing in mid-February around the $304 per ounce mark. Last week's pullback in gold brought it back to its 61.8 percent retracement level at the $290 per ounce level. Buyers have supported the price of gold twice during March at that level. Bugs Buy The bid in gold, or perhaps its reluctance to breakdown, can be attributed to one of two things: First, traders could be using gold as a hedge against inflation. Rising prices, however, are nowhere to be found as last week's wholesale report revealed. The second possibility is that the bid in gold is coming from defensive buyers; those market participants who are shunning risks associated with other assets, such as stocks. Monday's advance in the commodity and, indeed, gold equities was only one day. We therefore can't draw any definitive conclusions. We can, however, continue to monitor the price of gold and the corresponding equities and piece that into our market hypothesis. Further strength in gold, especially in conjunction with a further rally in bonds, could signal trouble on the horizon for stocks. The type of defensive buying that lifts bonds and gold in tandem is normally not the most favorable market environment for stocks. To reiterate, Monday's was only one session, and we need more information before jumping to conclusion. Just be on the lookout for defensive posturing by the market. Healthy Habits Bulls were moving back into health care stocks Monday, excluding major Pharmaceuticals (DRG.X). The DRG.X finished 0.47 percent lower for the day, diverging from the strength in the Biotechs (BTK.X) and HMOs (HMO.X). The two both finished more than 1.8 percent higher. For its part, the BTK.X finished above its 200-dma for the first time in about two months. Stellar performances were put in by Affymetrix (NASDAQ:AFFX), Myriad Genetics (NASDAQ:MYGN), Gilead Sciences (NASDAQ:GILD), ICOS (NASDAQ:ICOS), and Genentech (NYSE:DNA). Fractional weakness was observed in only four of the 25 biotech stocks that I track. In other words, the BTK.X rally Monday was well participated in by individual stocks. The HMO.X, by comparison, finished at a new all-time high. Beaten down Pacificare (NASDAQ:PHSY) led the rally in the group with its 3.21 percent gain. Other movers included Human (NYSE:HUM), Anthem (NYSE:ATH), and Mid Atlantic Medical (NYSE:MME). Like the BTK.X advance, the HMO.X rally was broad in scope. Crow Call The strength in the broader health care space most likely contributed to the breakout in Cardinal Health (NYSE:CAH), a stock Jeff Bailey highlighted over the weekend as bullish. As he normally is, Jeff on the money with his observations in CAH. I'd like to add a few of my own especially after today's 1.21 percent rally and close above the 200-dma. Jeff's bullish bias was based on observations from April of 2000 during which CAH broke above a triple top on its point and figure chart while at the same time clearing its 200-dma. History often repeats itself in the marketplace, which is what we're seeing again in CAH. After breaking out above its triple-top last week, CAH continued above its 200-dma in today's trading. The company announced an acquisition, which may have been the cause, or perhaps the explanation, for today's rally. More likely was that the buyers were already waiting to take this stock higher. And the buyers did show up with conviction as CAH exchanged almost twice its 30-day average volume in Monday's session. In doing so, the buyers carried CAH up to its next hurdle at $70, which is a double-top on its PnF chart. Triple Double With the triple top breakout last week and the subsequent advance past the 200-dma Monday, the next progression in bullishness is for CAH to gain relative strength versus the market, putting it back into a column of Xs versus the SPX. The interesting thing is that CAH finished 0.03 basis points from reversing into a column of Xs on its point and figure chart Monday. CAH's relative strength versus the SPX finished at 59.97, it needs 60.00 in order to reverse into a column of Xs. That could come tomorrow and if it does would increase the bull's conviction. Gap Higher or Lower? Ahead of the FOMC meeting, trade gap figures are scheduled for release tomorrow morning. Its a relatively small time number, but one to watch nonetheless. Estimates are calling for a number of $27 billion, higher than December's $25.3 billion reading. Aside from the economic release, the market may be impacted by after hours developments from Monday night. Although nothing major was announced, there are a few companies to watch in tomorrow's session. ONI Systems (NASDAQ:ONIS), who is set to be acquired by CIENA (NASDAQ:CIEN), issued a profit warning after the bell. The beaten down networking equipment sector could be in for more weakness following the warning. Separately, Gemstar TV Guide (NASDAQ:GMST) reported that its co-president would resign on April 1. Shares were off by about $2 in the evening session. Finally, Electro Scientific (NASDAQ:ESIO) reported a disappointing quarterly number after the close. Its shares were lower by about $3 in after hours. Notice that there's one commonality between these three stocks: a four-letter symbol. Tomorrow's most important event will be the Fed's official announcement at its usual time around 2:15 p.m. EST. Expect slow trading into the announcement, and keep a close eye on the above mentioned interest rate sensitive sectors. Trading is typically volatile around the time of the announcement, so make sure to set stops on open winning plays according to risk levels and have a plan in place ahead of time. 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 --------------------------------- Univision - UVN - close: 46.71 change: +1.65 WHAT TO WATCH: Media stocks have been heading up in recent weeks and continued higher today on upbeat guidance from Radio One (ROIA). UVN has put on quite a show since bottoming near $33 in February and today's 3.7% move pushed shares firmly over resistance at $45. In addition to the general strength in the media sector, shares also benefited from a UBS Warburg advertising report that was bullish on UVN. Near-term we'd look for the stock to trade up to $50. At this point shares look a bit over-extended, although very aggressive traders could jump on if UVN move above last May's high at $47. On the other hand a dip to $45 may present a more favorable entry point. --- Ryland Group Inc. - RYL - close: 87.07 change: -1.63 WHAT TO WATCH: Homebuilding stocks had a nice run over the past month (okay, they've been doing well a lot longer than a month) and RYL led the way higher. However, it seems rising bond rates (which translate to higher mortgage rates) and speculation that the new home market is over-saturated may have deflated the sector. RYL topped out at $97.70 on March 7th and has been trending lower ever since. The MACD gave a bearish crossover this week and there is no clear support level until the 50-dma at $80. If the sector negativity continues traders can target weakness from current levels or failed rallies at $90. P-n-f traders may want to note that the stock is currently on a sell signal (double-bottom) for the first time in three months. --- Furniture Brands Intl - FBN - close: 39.73 change: -0.08 WHAT TO WATCH: As discussed above, homebuilding stocks have been trending down. If Wall Street believes that the new home market has peaked, then home-furnishing manufacturers such as FBN should follow the homebuilders lower. Technically, the stock looks like it could head back to support at $35. The MACD is showing a bearish crossover and daily stochastics are rolling over from overbought. However, shares are still trading in a narrow ascending channel from September and are currently resting just above the bottom of that channel. A trade to $38 would create a 3-box reversal on the p-n-f chart, while a break below it could mean that the bears have retaken control if for only a little while. --- Applied Materials - AMAT - close: 51.82 change: +1.10 WHAT TO WATCH: Like most semiconductor stocks, shares of AMAT ramped up sharply in the first week of March. Wall Street seems to be very bullish on chip equipment manufactures such as AMAT and NVLS, and we're inclined to agree. However, rather than chasing the stock higher we'd like to wait for a pullback to offer a better entry point. Jeff Bailey likes a dip all the way back to $46 - 47 but we might not get an opportunity to buy it that cheap. Look for a bounce from the $50 level to evaluate bullish positions. A couple news events this week could have a large impact on AMAT. In addition to Tuesday's fed meeting, we'll be watching the release of the semiconductor book-to-bill ratio later this week (date unconfirmed), which could have a large impact on semi stocks. Short-term aggressive traders could try a long play with a stop under $48.75. --- Cardinal Health - CAH - close: 69.90 change: +0.84 WHAT TO WATCH: The HMO.X health provider index traded to an all- time high of 508 today. CAH has also been trading strong and closed over its 200-dma on Monday. As mentioned in this weekend's Watch List, we're waiting for a close over November's highs at $70. If this occurs we may add CAH as another Healthcare stock on our Play List. In the news, CAH announced that they had agreed to purchase Magellan Laboratories Inc., a pharmaceutical development company. For more info on CAH check out this weekend's wrap by Jeff. =============== Play-of-the-Day =============== With the FOMC meeting tomorrow a lot of Wall Street pundits are expecting a lackluster morning as everyone waits to hear Greenspan and Co's decision on their bias. Will it be neutral or will they move to tighten? Because of the event we're are not posting a play-of-the-day for tomorrow. The only thing traders can probably bet on with surety is the potential for a very volatile afternoon. ================================================================= 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 03-18-2002 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/c18b_2.asp ================================================================= In section two: NetBulls Tech Stocks Stop Adjustment Update: BBH (long) & BRCD (short) StockBottom Non-tech Stocks Closed Bullish Plays: COL Long-Term Plays Stop Loss Adjustments: PETM, SPLS Non-tech Closed Play: HSY Split Trader Announcements: AVD: 4-for-3 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 Tech Stocks (NB) section ================================================================= =================== NB Stop Adjustments =================== Bullish Plays ------------- Biotech HOLDRs - BBH - cls: 128.20 chg: +2.75 stop: 119.45 *new* After repeatedly butting its head on resistance near $125 shares of the BBH have finally broken higher. This is just the sort of development we were looking for, and the BBH is now within striking distance of resistance at $130. Moving the sector higher today were AMGN (+1.74%), CHIR (+2.52%), DNA (+3.59%), and SPER (+2.33%). In response to the breakout we're moving up our stop up to last week's low at $119.45. Note that the BTK.X biotech index faces both the 100-dma and historical resistance directly overhead at 545. By the way, a more conservative trader could probably get by with a tighter stop near the $124 level but we're going to look for a pull back and bounce before we cinch up our stop loss too high. Picked on February 20th at $120.00 Gain since picked: +8.20 Earnings Date N/A Bearish Plays ------------- Brocade Comm. - BRCD - cls: 23.10 chg: -2.44 stop: 27.05 *new* Whoa! That's what we like to see in our short plays. BRCD dropped 9.55% today on high volume of 35M versus the 15M average. There wasn't any company-specific news to explain the decline, but other storage stocks such as QLGC, EMLX (another PI short play), and EMC all suffered losses. At this point it appears BRCD may be headed for a test of the $20 level (our new target), but shares may find support near recent lows at $21.61. Due to the large decline we're tightening our stop to $27.05 tonight. More conservative traders may want to put their stop just above today's high at $26.49 or even near $25.50, which would protect a 5% gain. We're expecting a possible oversold bounce to $25.00 so we don't want to get prematurely stopped out on any volatility thus our stop at $27.05. The PI newsletter is currently up 14% on this play. Don't forget that our initial price target was $22 and short-term traders might want to begin looking for the exits. Picked on March 15th at $26.90 Gain since picked: +3.80 Earnings Date 04/17/02 (unconfirmed) ================================================================= AT Active Trader/Non-tech plays ================================================================= =============== AT Closed Play =============== ------------------- Closed Bullish Play ------------------- Rockwell Collins - COL - cls: 24.00 chg: -0.40 stop: 23.65 Based on expectations for a quick rebound from the depressed commercial aerospace market, Lehman Bros. initiated coverage on COL today with a "buy" rating and price target of $28 (Reuters). You'd think that the upgrade would've given the stock some positive momentum, but that wasn't the case. COL has been somewhat weak since hitting the top of its ascending channel near $25. We noted in recent updates that shares could be trending back toward the bottom of the channel and accordingly raised our stop. Today's selling pushed the stock below the stop at $23.65, thus ending this play with a 5.1% gain. The 1.63% loss on Monday may have made more sense if the sector was weak, but the DFX.X defense index traded flat today and finished with a fractional gain. It appears that shares may consolidate near current levels or even retest the 30-dma near $22.50 before breaking to new highs. COL was able to gain back some lost ground in afternoon trading but in light of today's relative weakness we'd be weary about initiating new positions. Picked on February 15th at $22.50 Gain since picked: +1.15 Earnings Date 04/17/02 (unconfirmed) ================================================================= Long-Term Plays (LT) section ================================================================= LT Stop Loss Adjustments ------------------------ (Non-Tech Stop Loss Updates) PETsMART, Inc. - PETM - close: $12.98 change: -0.06 stop: 12.38 We are RAISING our stop loss on PETM to $12.38. This should protect a 20% gain in the stock from our picked price of $10.32 on January 28th. Our original target was only $12 so the recent highs near $13 are a bonus. --- Staples, Inc. - SPLS - close: 20.12 change: -0.48 stop: 17.84 We are RAISING our stop loss on SPLS to $17.84, which is near the Feb. 22nd low. The stock is doing well consolidating above the $20 level but the MACD is beging to look pretty extended. Our exit price of $24.85 is still in effect. =============== LT Closed Plays =============== -------------------- Closed Long Non-Tech -------------------- Hershey Foods Corp - HSY - cls: 67.47 chg: -1.30 We are closing our long-term play on HSY. We initially started the play back in October (at $64.55) because we felt the stock offered good long-term potential. At the time we were expecting a share price of better than $75 over the next three to six months. The stock did reach the $72 level but began to see profit taking over the last three weeks. When it appeared to be building a new base of support at $68 this last week we weren't too concerned. However, Monday's gap down and close under its 100-dma on strong volume is discouraging. We are unsure whether this is a market reaction to HSY's decision to keep Andersen as its auditors. Andersen has been working for HSY for the last 75 years and management feels they are still qualified but this could be a vote of no confidence by Wall Street. ================================================================= Split Trader / Stock Splits (ST) section ================================================================== ------------------- Split Announcements ------------------- Both a Cash Dividend & 4-for-3 Split for AVD After the bell on Monday, American Vanguard Corp. (AMEX:AVD) announced that their Board of Directors had approved both a $0.14 cash dividend and a 4-for-3 stock split. The split will take place as a 33% stock dividend and the cash dividend will be paid on a pre-split basis. The shareholder record date for both the dividend and the stock split will be March 29th, 2002. The distribution date for both will be April 12th, 2002. Shares of AVD have risen very strongly over the last twelve months with the stock price moving from the $12 level to close near $20 today. Our concern with trading it would be the extremely low volume. The stock split will help that but it will still not have enough volume for us to trade it comfortably. The stock closed at $19.90 on Monday. For a current quote, click here: http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=AVD About the company American Vanguard Corporation is a diversified specialty and agricultural products company focusing on crop protection and management, turf management and public health insecticides. The Company's basic strategy is to acquire brand name, niche product lines from multi-billion dollar companies that divest mature products to focus on newly discovered molecules. (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 ZION Zions Bancorp 55.78 +0.83 MUR Murphy Oil Corp 90.02 +1.66 TDW Tidewater Inc 43.13 +1.46 AXL American Axle & Mfg 29.55 +1.25 SXT Sensient Technologies 22.43 +0.58 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- Ticker Company Name Close Change HHLF Hurricane Hydro 13.96 +1.17 MDG Meridian Gold Inc 12.55 +1.25 MCAF Mcafee.com Corp 19.45 +3.91 SKO Shopko Stores Inc 17.15 +1.15 SIE Sierra Health Services 11.62 +1.02 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- Ticker Company Name Close Change CVS CVS Corp 35.40 +1.09 UVN Univision Communications 46.71 +1.65 SU Suncor Energy 37.75 +2.26 ROOM Hotel Reservations Network 68.10 +3.83 HSP Hispanic Broadcasting 31.65 +2.55 CXR Cox Radio Inc 30.14 +1.40 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change HSY Hershey Foods Corp 67.47 -1.30 BRCD Brocade Communications 23.10 -2.44 LEN Lennar Corp 53.00 -1.55 AFCE AFC Enterprises 28.51 -1.64 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change NVR NVR Inc 285.00 -3.60 MMS Maximus Inc 35.15 -1.30 ================================================================= 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.
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