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Daily Newsletter, Friday, 04/12/2002

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PremierInvestor.net Newsletter          Weekend Edition 04-12-2002
                                                    section 1 of 3
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In section one:

Market Wrap:      A Positive Finish to a Negative Week!  
Play-of-the-Day:  It's Not Motel 6.
Watch List:       AMAT, BMET, CHTR, RYL, CA, CHKP, IGT and more!
Market Sentiment: Answer: Exhaustion.

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U.S. Market Numbers
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MARKET WRAP  (view in courier font for table alignment)
------------------------------------------------------------------
        WE 4-12           WE 4-5          WE 3-29          WE 3-22
DOW    10190.82 - 80.82 10271.64 -132.30 10403.94 - 23.73  -179.56
Nasdaq  1756.19 - 13.84  1770.03 - 75.32  1845.35 -  6.04  - 16.91
S&P-100  553.74 - 10.28   564.02 - 13.85   577.87 -  2.22  - 11.04 
S&P-500 1111.01 - 11.72  1122.73 - 24.66  1147.39 -  1.31  - 17.46 
W5000  10505.97 - 45.46 10551.43 -224.31 10775.74 -  1.12  -127.83 
RUT      515.46 + 17.70   497.76 -  8.70   506.46 +  4.07  +  3.27 
TRAN    2875.03 + 96.62  2778.41 -139.55  2917.96 + 40.69  - 74.27 
VIX       22.09 +   .96    21.13 +  1.81    19.32 -  0.30  -  1.15 
VXN       42.81 +  1.96    40.85 +  4.57    36.28 -  1.28  -  2.70 
TRIN       1.03             1.67             0.84             1.12
TICK       +460             +341             +793             +647   
Put/Call    .99              .78              .79              .66 
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WE= week ended

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

Editor's note:  Jeff Bailey is off this weekend and will be back on
Tuesday.  Please enjoy the guest commentary.

===========


A Positive Finish to a Negative Week!  

The rocky week ended with a whimper and only light short covering 
provided a bounce into the green at the close. Big name news events
led by GE and IBM helped lead the Dow to its fourth consecutive 
weekly loss and the fifth weekly loss for the Nasdaq. A back to 
back triple digit gain and triple digit loss on Wed/Thr toyed 
with investors hopes and fears but the end result was the same.
The Dow edged even closer to Dow 10K again and the S&P slowly
settled toward the critical 1100 level. How are these earnings
runs supposed to work again? I forget.

Dow Jones Industrial Average (daily)



Nasdaq Composite (daily)



S&P 500 Index (daily)




The GE disaster on Thursday helped erase the +172 point Dow gain
from Wednesday with a -205 point loss. You have heard this before
so I will be brief but GE only took six questions on its extremely
short conference call. Analysts with lists of pointed questions
were left with a dial tone and a bad feeling about the "new GE".
Downgrades flourished and GE was still dropping at the close on
Friday. 

IBM led off the week with its earnings warning and lost nearly
-$10. After a slow recovery through Wednesday it was hit again
with news that the SEC had instituted an inquiry. IBM had a
no comment response and the stock got hit for another -$5 drop.
Surprise, the SEC announces "after the close" that the inquiry
was already closed and IBM traded up +$3 in after hours. Inquiring
minds want to know why IBM did not make the announcement since
they already knew the outcome when they made the "no comment" 
statement. Also, why did the SEC wait until after the close to
make the announcement? Those same inquiring minds are coming up
with a conspiracy theory that assumes "other" problems in the
pipeline. IBM opened up near $88 on Friday but sold off all day
to close with only a +1.41 gain. Obviously traders are not 
convinced the company has told the whole truth and nothing but
the truth.

On a side note, the CBOE is investigating unusual put option
volume on IBM the week before its warning. According to the CBOE
put volume increased +59% above normal. Of course we already
know why the volume was up since we picked it as a high odds
put candidate the week before. I had several readers email about
some serious profits gained with one person planning on buying
a Porsche. Keep up the good work guys!

With big caps under pressure investors turned to small caps for
relief. The Russell-2000 posted nearly a +18 point gain for the
week and broke out of a trading range in place since early March.
Regional banks and property investment companies were the strongest
sub-sectors in the Russell. 

The most beaten up sector for the last two weeks was the software
sector with nearly 25 earnings warnings complete with lowered
guidance. Mercury Interactive (MERQ) broke away from the pack
when they announced earnings on Thursday which beat the street
and then affirmed full year 2002 earnings. They said sales exceeded
all targets and they were continuing to cut expenses. MERQ rose
+25% or +7.30 to $36.70 on strong short covering. This powered 
the software index (GSO.x) to nearly a +5% gain for the day. Even
Microsoft gained +1.14 after a bad week. 
   
Economic reports on Friday included the PPI, which was heavily 
influenced by sharply rising energy prices, gained +1%. The core
rate rose slightly but was consistent with the recovery underway.
Those numbers should decrease for April after crude prices fell
to under $24 on Friday. Venezuela said it was going to quit 
selling oil to Cuba and place the concerns of the country ahead
of concerns of OPEC. This was seen as a prelude to raising output
to fund the country. Oil had peaked over $28 last week and the
drop back below $24 should ease the pricing pressure on companies
that are dependent on energy prices. The Dow transports soared
with a nearly a +100 point gain for the week. 

Consumer confidence fell slightly in the first April reading from
95.7 to 94.4 and could probably be tracked fairly closely to the
higher gasoline prices and falling stock market. These two areas
are the first to impact the consumer psyche. Holding up the index
was low mortgage rates which are stabilizing on the hoped the Fed 
will not rush to hike rates and stop the recovery in its tracks.
Consumers are slowly being convinced that the recovery will not
vertical but could be a rocky path over the next year. 

Bubble mania returned on Friday when the two year old JetBlue
airline with 24 planes rocketed into being as the fifth largest
U.S. airline. The IPO which gained +57% meant JetBlue now has
a market capitalization of $1.6 billion surpassing both UAL
and US Airways and nearly hitting the $1.8 billion value of
Continental Airlines. Not bad for an airline that has 108 flights
a day. They are going to use the money to buy 59 new Airbus A320s
and triple the size of their fleet by 2007. I applaud their 
success but does this seem overdone to anyone else? They are
already warning that their expenses are rising and they may not
be able to open any new cities this year. 

Next week the earnings parade in all its glory. The flood of 
companies reporting begins on Monday with BAC, C, CAL, HAND,
MER, NVLS, PFE, TXN to name a few. Check for the link on our
website for the full list by day. Everyone expects the earnings
to be a disaster but the key factor is still the guidance for
the next couple quarters. If that guidance falls flat like the
GE forecast then next week could get very bumpy. Investors want
to discount any bad news and they will be struggling to find
the silver lining in any cloud. It is all in the call and many
company officers will be having Maalox moments as they face the
analysts questions.

Despite the market drop this week the market internals have been
surprisingly strong. The new highs have been substantially beating
the new lows by a 4:1 or better margin with a couple days of better
than 5:1 this week. On Friday, a wimpy day to say the least, the
advance/decline ratios on both the Nasdaq and NYSE were positive
by 2:1. Obviously the big caps are not getting investor attention 
and funds pouring the same amount of money into $10-$30 stocks
that they would be putting into $50-$100 stocks means a lot more
shares being bought and that produces the upward pressure we have
been seeing.

The problem as I see it becomes the age old battle between the
bulls and bears. The lines are drawn, the major averages sitting
right at support, and the battle next week will decide direction.
Because the big caps have been warning it appears that things
are worse than expected. Still there have been far fewer warnings
this quarter than were expected. They have just been very high
profile. It is all going to boil down to the guidance we get next
week when several hundred companies across all sectors get their
15 min of fame. I could draw a word picture of the coming crash
or the coming rally and be equally convincing on both. The markets
are oversold after multiple weeks of drops. Still they are resting
right on support. It may take really bad news to push them down
any farther. Still, April 15th is Monday and we all know what
happens then. The taxman requires payment and stocks will be sold
to come up with the cash. How serious a problem this will be we
do not know. 

Also, remember the period between April-15th and May-15th typically
produces the spring crash. Just before that drop is when things
typically appear the rosiest. I could easier pick the winning
lotto numbers for the $200 million drawing this weekend than pick
the market direction next week with any certainty. I am leaning
down but indicators are turning bullish. The put/call ratio on
Friday closed at .99 which typically indicates a rebound soon but
the oscillators on the S&P are indicating more possible weakness.

How do we trade this scenario? Simple! We typically get all tied
up trying to pick market direction and then place our bets. Instead
I strongly suggest letting the markets tell us which way they are
going. On Tuesday I changed my entry points for going long to 
10350/1800/1130. The Dow moved to trade over 10350 briefly during
the Wednesday phantom rally but quickly failed at that level. The
S&P managed to break 1130 by one point also on Wednesday before 
heading to new lows. The Nasdaq never came close to 1800. I picked
these levels because that is where the near term resistance is 
greatest. A breakout over those levels will require conviction,
not speculation. 

I know those levels appear to be a long way above our current 
position and many people feel they will be giving up too many 
points to wait for a breakout. My feeling is I do not want to 
be long the market unless it has legs. Breaking those levels is 
proof that it has legs. If it is going to hit Nasdaq 2200 this 
month as some predict it will have to break 1800 first. I heard 
a six week target on the S&P of 1250 on Friday. If that analyst 
was right then we would benefit from a +120 point gain even if 
we wait for a move over 1130. So, my upside entry points allow
me to watch patiently for conviction and take action only when
the time is right. If you are not short this market then I would
wait for a break below 10100/1725/1100 to go short. Avoid the 
noise and let the market trade in its range and we will profit 
on a breakout to either side.

Enter Very Passively, Exit Aggressively!

Jim Brown
Guest Editor


=========================
Play-of-the-Day (Bullish)
=========================
(( new non-tech long play ))

Prime Hospitality - PDQ - close: 13.53 change: +0.35 stop: 12.84

Company Description:
Prime Hospitality Corp., one of the nation's premiere lodging 
companies, owns, manages and franchises 234 hotels throughout the 
United States. The Company owns and operates two proprietary 
brands that compete in different segments: AmeriSuites® (all-
suites) and Wellesley Inn & Suites® (limited-service). Also 
within its portfolio are owned and/or managed hotels operated 
under franchise agreements with national hotel chains including 
Hilton, Radisson, Sheraton, Holiday Inn and Ramada. 
(source: company press release)

Why We Like It:
The hospitality and hotel business was hit hard after the 
September 11th attacks.  However, after the brief sell-off when 
the markets reopened, the bullish trend in the sector has been 
very steady.  As more and more economic reports continue to point 
to a slowly strengthening economy, it appears that investors are 
betting that the hotel business might not turn out that bad.  We 
looked at several of the larger players in the group and found 
that PDQ looked pretty attractive.  PDQ's P/E ratio at 15 is less 
than half both the average of the S&P 500 and less than the 
industry average.  The company was cautious about the full year 
numbers in their Q1 report last February but since then the stock 
has been very strong.  This last week has seen the stock bounce 
strongly after some well-deserved profit taking but now it 
appears ready for the next leg higher.  Earnings are planned for 
9:30 a.m. ET on April 25th, 2002 and we hope to ride the stock up 
to the announcement.  We found it very interesting that shares of 
PDQ have been rising on strong volume but tended to pull back 
with only light volume - as if buyers merely stepped back to wait 
for shares to drop before stepping in again.  We like the close 
above $13.50 and would consider this an entry point.  Our stop 
will be at $12.84 as we try and keep it about 5 percent from 
current levels.  More aggressive traders could place their stop 
below the recent lows and use the $12.50 level as a guide.  
Expect some resistance at $14, the March highs and also expect 
some resistance at $15, our initial upside target.

Picked on April 12th at $13.53 
Gain since picked:       +0.00
Earnings Date         04/25/02 (confirmed)
 





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

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

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

Applied Materials - AMAT - close: 50.60 change: +0.17 

WHAT TO WATCH: Chip equipment makers pulled back this week amid 
the overall tech weakness.  After trading at near-term highs of 
$55, AMAT has come back to test psychological support at $50.  
The SOX.X semiconductor index has been downtrending since early 
March but seemed to firm near 550 this week.  With sector leader 
INTC threatening a breakdown, it seems a bit counterintuitive to 
consider going long on chip stock.  However, in light of the 
pattern of relative strength for equipment makers, we think 
aggressive traders could go long on AMAT at current levels.  If 
shares head lower, entries could also be considered on a bounce 
from the 50-dma at $48.86.  There is some disagreement on our 
team on whether AMAT trades sideways from here hugging the $50 
mark or whether traders will get a chance to buy it near $48.  
Whatever the case, if you go long, use a tight stop since you're 
at the bottom of its ascending channel ($48.00).




---

Biomet, Inc. - BMET - close: $26.90 change: +0.65

The RXH.X healthcare provider index has had phenomenal rise since 
early March and is quickly approaching the 52-week high near 360.  
Whereas many stocks in the sector are looking overextended, BMET, 
which is actually in the medical equipment and supplies business, 
has just started its move higher.  Is this a sign of relative 
weakness or just a delayed reaction?  It's hard to say, but in 
any case the stock is currently at a critical action point.  
Bulls should watch for a move above $27, which could create an 
explosive upside move.  The MACD just crossed over at the 
oversold extreme, which suggests that the selling may be 
exhausted.  Stochastics are looking strong as well.  On the other 
hand, aggressive bears could target a failed rally from current 
levels.  Watch the action in BSX and MDT (fellow equipment 
makers), as it will probably be difficult for BMET to move higher 
if other major players in the group begins to consolidate some of 
its recent gains.  If you do consider a long play, we suggest you 
do your homework and find out why shares gapped down so 
drastically in late March.  We wouldn't want to spoil your fun 
and just tell you.




---

Charter Communications - CHTR - close: 9.04 change: -0.37

WHAT TO WATCH: Premier Investor readers may have already seen two 
hapless cable stocks (CVC and SFA) on our Play List.  We also 
strongly considered adding CHTR, which is looking extremely weak 
after breaking to an all-time low Friday.  With the stock well 
under the $10.00 support level, it's anyone's guess as to when 
the bears will finally step aside.  A trade at or below $9.00 
would create a double-bottom sell signal on the p-n-f chart, and 
aggressive traders can evaluate short positions if shares fall 
below this level.  Note that due to the stock's sharp decline and 
single-digit price, this would be considered a high-risk play.  
We did strongly consider adding this to the play list and think 
it could trade as low as $7.25 to $6.00 in the next few weeks.




---

Ryland Group Inc - RYL - close: 101.80 change: +5.00

WHAT TO WATCH: Homebuilders bounced back nicely from their late-
March lows and many are breaking to all-time highs.  Such is the 
case with RYL, which actually managed to close over the all-
important $100 level today.  Short-term traders looking for a 
potential 4-5 percent gain may want to consider bullish positions 
at current levels or on a pullback to $97, with a price target of 
$105. We suspect the stock will actually be able to trade to $110 
relatively soon.  A trade at $102 will create a double-top p-n-f 
buy signal.  Look below at the MORE TO WATCH for more 
homebuilders.




=============
MORE TO WATCH
=============

Computer Associates - CA - close: 21.18 change: +0.13

Keeps banging its head against resistance at $22.  This level 
coincides with the bottom of a gap in mid-February.  Shares have 
been uptrending over the past week, and a move above $22 could 
create some explosive short covering.  Conversely, a breakdown 
under $20.00 or $19.50 might make it a decent short again.

---

Check Point Software - CHKP - close: 20.72 change: +0.27

Can it get any worse?  Shares barely participated in today's 
software rebound and are threatening to break support at $20.  
A move under this level could give bearish traders yet another 
chance ride the stock lower.

---

Intl. Game Tech - IGT  - close: 56.90 change: -1.38

Looks like an attractive bearish candidate.  Shares recently sold 
off sharply after failing to rally over $60.  A break under $56 
might send the stock tumbling lower.  We would target the $50 
level.  Earnings are expected on April 23rd.

---

Callaway Golf - ELY - close: 20.12 change: +0.25

We strongly considered adding this to the play list and still 
might.  The stock has actually been consolidating for months 
after collapsing in June of 2001.  The $20 level has been major 
overhead resistance ($20.00 to $20.50) but we think it may be 
attempting a breakout.  With summer coming, there could be 
increased investor interest but it looks like they have earnings 
on April 18th (next Wednesday).  We might as well wait to see 
what their numbers are first.  We would target a move to the 
$24.00 level.

---

Conseco Inc - CNC - close: 4.70 change: +0.33

This is another one we strongly considered adding to the high 
risk/reward section of the play list.  Insurance has been a very 
strong sector in the market and investors could be looking for 
other insurance stocks that aren't so overextended.  CNC 
certainly fits that bill, although small dollar moves make for 
decent sized percentage gains (and losses) at this point.  We 
would consider using a trigger at $5.01 to go long and exit at 
potential resistance of $6.00, especially with the 200-dma 
hovering above at $6.50.

---

Lancaster Colony Corp - LANC - close: 39.04 change: +1.14

This is one stock that has not shown any weakness this week while 
setting a number of new 52-week highs.  It too was almost added 
to the play list but the $40 level, directly overhead, looked 
like it could be round-number resistance and a pull back might 
offer us a better entry point.

---

Oakley Inc - OO - close: 18.44 change: -0.19

As a rule, we try to avoid holding over earnings announcements 
unless it is specifically part of the strategy or it's a high 
risk play.  With earnings coming up next week (April 17th) we 
chose not to add OO, which appears to be ready for a breakout 
above resistance at $19.00.  We've been following the stock for 
sometime and feel it might make a good long-term play with a 
three to six month horizon and a target of $24.00.

---

Mattel Inc - MAT - close: 21.05 change: +0.13

This is another one that almost made it to the play list as a 
good long-term play candidate but with earnings next week (April 
18th) we chose to wait until after the announcement.  MAT is not 
a fast moving stock but the recent breakout over the $20 level 
and then retest as support and following bounce higher was all we 
needed to see.  Plus, it had a nice bounce off support and 
breakout higher on its point-and-figure chart too.

---

Homebuilders & Construction:  LEN, KBH, BZH, DHR and MHO

These stock all look pretty attractive and with the growing 
expectation that interest and mortgages rates will remain 
relatively low for the time being then investors could move into 
them as the summer (home) selling and construction season begins.  
We chose not to add most of these to the play list because they 
have earnings come up pretty quickly and we'd rather not hold 
over the announcements.




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

Answer: Exhaustion
By Eric Utley

Last Thursday, I posed the question if the broad sell-off marked
a short-term bottom by way of capitulation, or if it was merely
an exhaustive move lower.  My answer is that Thursday's weakness
was short-term selling exhaustion.

I think we would've have seen a strong rally Friday, in terms of
volume and price, if, in fact, Thursday marked a capitulation.
Volume was weaker day-over-day, and price action was downright
dull.  The Nasdaq-100 (NDX.X), which finished slightly better
than 2 percent higher Friday, wasn't even able to take out
Thursday's high.  Moreover, the S&P 500 (SPX.X) traded within a
10 point range.  Certainly conviction was lacking on the part
of the bulls.

When I looked at Friday's sector scorecard, I saw short covering.
The day's best performing sector was the Software Sector (GSO.X),
which finished 4.91 percent higher.  Others beaten up sectors in
tech and telecom finished substantially higher; the Wireless
Services Index (YLS.X) popped by 3.69 percent.  The price action
in these sectors was a steady grind higher, but not the type of
fear to the upside we've seen during recent short covering
rallies.  It was almost as if the shorts were thinking that it
would be a good idea to book gains ahead of the weekend, but
that there wasn't a need to rush to cover.  There was no fear to
the upside.

What's even more bearish, in my view, is the lack of fear to the
downside.  The CBOE Market Volatility Index (VIX.X) once again
imploded on the rally in stocks.  The VIX.X finished 1.07
percent lower Friday.  I'd like to see some stick in the VIX.X
during a rally.  Without some skepticism, each rally attempt
will fail.  We've seen that pattern repeat again and again since
the VIX first traded below 20 on March 21.

Other money, maybe it's smarter, is indeed fearful.  The gold
stocks and Treasuries rallied during Friday's session despite
the move higher in the broader market.  The Gold and Silver
Index (XAU.X) finished 0.94 percent higher on the day.  The
PPI didn't carry any inflationary fears with it judging by the
way bonds rallied from the opening.  The benchmark 10-Year
Treasury Yield (TNX.X) finished lower to 5.156%, its lowest
yield since March 6.  The TNX.X firmly broke down below the
5.200% level, which signaled a short-term breakout in the
Note.  The buying of bonds in conjunction with gold signals
one thing: risk aversion.  So while others fail to hedge
against potential blow-ups, such as IBM's (NYSE:IBM) last
Monday, via the options market, others are shying away from
risk via the gold and Treasury markets.

When added up, the intermediate-term view is still one of
bearishness.  Short-term rallies are possible given the
oversold nature of the market.  I'll again refer to the
extreme readings of the ARMS Index as proof of the oversold
tape.  But any forthcoming rally, be it a day or two long,
is an opportunity to get short the weakest links of the
market.

-----------------------------------------------------------------

Market Averages


DJIA ($INDU)

52-week High: 11350
52-week Low :  8062
Current     : 10191

Moving Averages:
(Simple)

 10-dma: 10259
 50-dma: 10209
200-dma:  9954

S&P 500 ($SPX)

52-week High: 1316
52-week Low :  945
Current     : 1111

Moving Averages:
(Simple)

 10-dma: 1125
 50-dma: 1127
200-dma: 1136


Nasdaq-100 ($NDX)

52-week High: 2071
52-week Low : 1089
Current     : 1352

Moving Averages:
(Simple)

 10-dma: 1383
 50-dma: 1446
200-dma: 1516


Software ($GSO)

The GSO returned to the spotlight in Friday's session, earning
the day's best performing sector spot with its 4.91 percent
snapback rally.  The sector was one of the hardest hit going
into Friday's session.  Traders concluded that the day's strength
was primarily short covering.

Leading to the upside included shares of NetIQ (NASDAQ:NTIQ),
BEA Systems (NASDAQ:BEAS), Siebel Systems (NASDAQ:SEBL),
Inktomi (NASDAQ:INKT), Cognos (NASDAQ:COGN), and E.Piphany
(NASDAQ:EPNY).

52-week High: 246
52-week Low : 112
Current     : 145

Moving Averages:
(Simple)

 10-dma: 149
 50-dma: 164
200-dma: 171


Oil Service ($OSX)

The OSX was whacked for 4.09 percent Friday.  Both the commodity
and equities came under pressure after the OPEC-friendly
President (misnomer) of Venezuela was ousted by that country's
military.  The thinking is that new supply will be coming to
market.

Losers in the sector included shares of Transocean (NYSE:RIG),
Haliburton (NYSE:HAL), Tidewater (NYSE:TDW), Weatherford
(NYSE:WFT), and Baker Hughes (NYSE:BHI).

52-week High: 136
52-week Low :  58
Current     :  93

Moving Averages:
(Simple)

 10-dma: 99
 50-dma: 94
200-dma: 85

-----------------------------------------------------------------

Market Volatility

The VIX opened above its 50-dma last Friday, but immediately
reversed in the early going.  The fear gauge ended the day
below its 50-dma.  The strength in stocks, once again, spread
complacency among traders.  I'd like to see the VIX trade
higher in the face of a rally attempt.  If that were to
happen, over two or three days, then I think a run would have
legs.  But as long as the VIX implodes at the first sight of
strength in stocks, I remain suspect.

To a lesser extent, the same applies to the VXN.  The
primary difference is that it appears that the VXN has
entered into a clear ascending trend; that is, higher highs
and lows were set all last week.  Plus, the VXN traded above
its 50-dma three days last week.  That made sense because
the NDX lead to the downside.  It also goes to show that
maybe tech is short-term oversold.

CBOE Market Volatility Index (VIX) - 22.09 -0.24
Nasdaq-100 Volatility Index  (VXN) - 42.83 -0.84

-----------------------------------------------------------------

          Put/Call Ratio  Call Volume   Put Volume
Total          0.99        424,241       418,653
Equity Only    0.87        359,324       314,822
OEX            0.85         17,370        14,692
QQQ            0.97          7,827         7,565
 
-----------------------------------------------------------------

Bullish Percent Data

           Current   Change   Status
NYSE          65      + 0     Bull Confirmed
NASDAQ-100    35      - 1     Bull Correction
DOW           63      + 0     Bear Alert
S&P 500       70      - 1     Bull Confirmed
S&P 100       68      + 0     Bear Alert

Bullish percent measures the number of stocks in an index 
currently trading on a buy signal on their point and figure 
chart.  Readings above 70 are considered overbought, and readings 
below 30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - Pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend

-----------------------------------------------------------------

 5-Day Arms Index  1.62
10-Day Arms Index  1.61
21-Day Arms Index  1.34
55-Day Arms Index  1.25

Extreme readings above 1.5 are bullish, and readings below .85 
are bearish.  These signals don't occur often and tend be early, 
but when the do, they can signal significant market turning 
points.

-----------------------------------------------------------------

Market Internals

        Advancers     Decliners
NYSE      2079           1040
NASDAQ    2322           1211

        New Highs      New Lows
NYSE      241             34
NASDAQ    244             48

        Volume (in millions)
NYSE     1,266
NASDAQ   1,360

-----------------------------------------------------------------

Commitments Of Traders Report: 04/09/02

Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts at the 
Chicago Mercantile Exchange and Chicago Board of Trade. COT data 
can be found at www.cftc.gov.

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 tend 
to be wrong.  

S&P 500

S&P commercials' net bearish position dropped by about 2,500
contracts during the most recent reporting period.  But the
group remained decidedly bearish.  Even more disconcerting
for the bulls was the revelation that the spread between
commercials and small traders remained near a one-year high.
Small traders grew slightly less bullish, but not by a lot.
The group only reduced its net bullish position by about
3,000 contracts.

Commercials   Long      Short      Net     % Of OI 
03/26/02      317,671   410,186   (92,515)  (12.7%)
04/02/02      313,294   406,337   (93,403)  (13.0%)
04/09/02      320,101   411,075   (90,974)  (12.4%)

Most bearish reading of the year: (111,956) -   3/6/01
Most bullish reading of the year: ( 36,481) - 10/16/01

Small Traders Long      Short      Net     % of OI
03/26/02      148,111     40,409  107,702     57.1%
04/02/02      149,449     43,139  106,310     55.2%
04/09/02      151,237     47,678  103,559     52.1%

Most bearish reading of the year:  36,513 - 5/01/01
Most bullish reading of the year: 107,702 - 3/26/02
 
NASDAQ-100

Nasdaq commercials grew slightly more bearish last week.  The
group added about 600 contracts to their net bearish position.
Small traders went the other direction by adding to their net
bullish position.  The position gained about 600 contracts.

Commercials   Long      Short      Net     % of OI 
03/26/02       25,275     33,880    (8,605)  (14.5%)
04/02/02       26,211     31,840    (5,629)   (9.7%)
04/09/02       28,985     35,221    (6,236)   (9.7%)

Most bearish reading of the year: (15,521) -  3/13/01
Most bullish reading of the year:   7,774  - 12/21/01

Small Traders  Long     Short      Net     % of OI
03/26/02       12,760     6,264     6,496     34.1% 
04/02/02       10,615     7,769     2,846     15.5%
04/09/02       11,640     8,353     3,287     16.4%

Most bearish reading of the year:  (9,877) - 12/21/01
Most bullish reading of the year:   8,460  -  3/13/01

DOW JONES INDUSTRIAL

Dow commercials reduced their net bullish position by a small
amount during the most recent reporting period.  They did it
through adding more short than long positions.  Meanwhile,
small traders remained relatively flat.

Commercials   Long      Short      Net     % of OI
03/26/02       17,973    12,539    5,434     17.8% 
04/02/02       18,717    12,549    6,168     19.7%
04/09/02       19,393    13,445    5,948     16.7%

Most bearish reading of the year: (8,322) -  1/16/01
Most bullish reading of the year: 15,135  - 10/16/01

Small Traders  Long      Short     Net     % of OI
03/26/02        5,818     9,308    (3,490)   (23.1%) 
04/02/02        5,192     9,007    (3,815)   (26.9%)
04/09/02        5,459     9,340    (3,881)   (26.2%)

Most bearish reading of the year:  (8,777) - 10/12/01
Most bullish reading of the year:   1,909  -  1/16/01




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PremierInvestor.net Newsletter          Weekend Edition 04-12-2002
                                                    section 2 of 3
Copyright © 2001, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
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In section two:

Net Bulls
  New Bullish Plays:     TTN
  Bullish Play Updates:  SNE
  Bearish Play Updates:  BRCM, MU, SAP, SFA
  Closed Bearish Plays:  ISSX

Stock Bottom / Active Trader
  New Bullish Plays:     PDQ, PHM, WMT
  New Bearish Plays:     CSGS
  Bullish Play Updates:  DOL, PD
  Closed Bullish Plays:  ACF, OHP

High Risk/Reward
  New Bullish Plays:     PYPL
  New Bearish Plays:     CVC
  Bullish Play Updates:  HIG, LUV
  Closed Bearish Plays:  JNPR, QCOM

Long-Term Plays
  New Non-tech Play:     
  Non-tech Updates:      -- look for these in Monday's newsletter

Split Trader
                        IBOC: 5-for-4 split announcement             
                         

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

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

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

Titan Corp - TTN - close: 21.00 change: +1.11 stop: *text*

Company Description:
Headquartered in San Diego, The Titan Corporation creates, builds 
and launches technology-based businesses, offering innovative 
technical solutions. For more than 20 years, Titan has provided 
comprehensive information systems solutions and services to the 
Department of Defense and intelligence agencies. Today, three of 
Titan's four core businesses develop and deploy communications 
and information technology solutions and services for both 
government and commercial customers. (source: company press 
release)

Why We Like It:
These days it's a bit difficult to find a tech stock that's 
threatening to break to new near-term highs, but TTN fits the 
bill (that's near-term as in relative, not 52-week highs).  
Recent strength in the stock can be attributed to the fact that 
TTN provides services to both the commercial and defense sectors.  
A scan of news releases for the company shows four defense 
contracts have been awarded in the month of April; The most 
recent being a $103M IT contract from the Air Force that was 
announced today.  This propelled shares of TTN higher by 5.6 
percent and set up what could be an attractive entry point.  The 
stock closed right at the $21 resistance level, which has kept a 
lid on every attempted rally since early February.  The 200-dma 
at $21.18 provides additional resistance.  We think the recent 
flurry of contracts could power the stock above this level, but 
want to verify a breakout first.  For this reason, we're going 
write this play with a trigger at $21.26.  If TTN trades at or 
above this level, we'll go long with a stop at $19.74.  This 
should prevent us from getting trapped in a reversal.  P-n-f 
chartists may notice that the stock has bearish resistance at 
$22.  This would be logically be the next level of resistance 
after the 200-dma, but we think the momentum created by the 
breakout above $21 will be enough to carry it though $22.  Such a 
move would also create a double-top breakout on the p-n-f and put 
our profit target of $25.50 within reach (although expect 
resistance at $24).  Be sure to monitor events in the Mid East, 
as a deterioration of the regional tensions (can it get much 
worse?) could spotlight the defense sector even more.

Picked on April xth at $xx.xx <- see text
Change since picked:    +0.00 
Earnings Date        02/12/02 (confirmed)
 




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

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

Sony Corp (ADR) - SNE - cls: 50.86 chg: -0.84 stop: 49.99 *new*

Uh-oh, this could be bad news for SNE fans.  The Japanese market 
has reacted negatively to the volatility in the U.S. markets.  
After trading relatively sideways while hovering above the 11K 
level for a few days the Nikkei average has broken support.  
Friday's session lost 189 points to close at 10,962.  This is the 
first close under the 11K level since March 1st.  Odds are that 
if the Japanese market doesn't rebound quickly come Monday that 
SNE will follow suit to the downside.  Conservative traders might 
want to consider tightening their stops to just under the $50.50 
level while we are going to move ours to $49.99 and try and 
reduce our exposure.  This is a precautionary measure, as so far, 
SNE has only been trading sideways.  The risk is that as an ADR, 
shares of SNE will gap down on Monday morning.  A frustrating 
event would be a gap down below our stop and then a day long or 
afternoon rally higher but we'd rather risk a tight stop just to 
protect us.  If the sentiment overseas turns around then traders 
might look for bounces above $50 as potential plays.

Picked on April 4th at $53.01
Gain since picked:      -2.15
Earnings Date        04/25/02 (unconfirmed)
 




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

Broadcom Corp - BRCM - close: 34.14 change: +0.64 stop: 35.01 *new*

As we expected on Thursday evening, shares of BRCM did rally 
higher on Friday but the stock added less than two percent and on 
low volume.  We are continuing to ratchet down our stop as the 
MACD and the stochastics have begun to turn bullish.  While we 
don't expect the stock to begin a new bullish trend, shares could 
provide a relief rally before continuing lower.  We would not 
encourage new positions at this time and with earnings 
approaching next Wednesday, we'd suggest looking for the exits.  
Please note that our new stop is $35.01.

Picked on March 25th at $35.75
Gain since picked:       +1.61
Earnings Date         04/17/02 (confirmed)
 



---

Micron Technology - MU - close: 29.06 change: -0.14 stop: 32.05

Shares of MU almost made it back to the $30 level before turning 
lower.  Unfortunately for impatient bears like ourselves, the 
descent has been rather subdued.  We see no change in our 
strategy although traders looking for new entries should probably 
compare the performance of the SOX and MU on Monday before 
committing capital.  Conservative investors might still consider 
the 10-dma as a possible area to put stops.  We are leaving ours 
at $32.05.  FYI, keep your eyes on INTC.  The giant chipmaker 
looks very bearish and could lead the sector lower next week.

Picked on April 5th at $29.85 
Gain since picked:      +0.79
Earnings Date        03/21/02 (confirmed)
 



---

SAP Aktiengesell - SAP - cls: 32.84 chg: +0.28 stop: 35.31 

The GSO.X software index posted a very strong rally on Friday but 
considering the sector had broken through numerous support levels 
in the preceding weeks it was probably fueled by short-covering.  
Software leader, Microsoft, while positive on Friday only added 
two percent, which under performed the GSO.  Shares of SAP were 
also disconnected from the rally and managed a weak 28-cent gain 
for the day.  SAP is trading near its 200-dma (32.62) and traders 
might want to consider waiting for the stock to close below this 
level now that we've reached it.  Given the larger breakdown in 
the stock and the performance of its peers, we are expecting SAP 
to break below this support.  The strongest influence on SAP is 
likely be the software sector in the States.  Therefore, if the 
GSO.X is going to bounce higher for a couple of days, aggressive 
traders could look for a new failed rally near its 10-dma if we 
get it.  In addition to watching the GSO, you might want to keep 
an eye on the German DAX index to see how investor sentiment 
overseas might affect SAP's stock price.  Currently the DAX is 
just under the 5200 level and looks like it might trade to 5000.  
You'll also want to be aware that we have conflicting earnings 
data.  Some say that SAP is due to announce next week (Thursday) 
while other sources lead us to believe it may be closer to the 
end of the month.

Picked on April 9th at $33.28 
Gain since picked:      +0.44
Earnings Date        04/18/02 (unconfirmed)
 



---

Scientific Atlanta - SFA - cls: 20.81 chg: +0.20 stop: *text*

Shares of SFA continued to trade sideways on Friday with a narrow 
range on the day.  We see no change in strategy and continue to 
wait for the stock to drop through our trigger point of $19.94.  
If we get triggered we'll start with a stop at $21.51 and target 
a move to the $17.50 mark, where we will exit.  Considering how 
the rest of the cable and related industry stocks are doing, the 
bulls have a lot of concern to carry in shares of SFA.  Don't 
forget that SFA is expected to announce earnings on April 18th.  
If we don't get a move soon, we may have to cancel the play - or 
move it to the high risk section and hold over the announcement.

Picked on April xth at $xx.xx <- see text 
Gain since picked:      +0.00
Earnings Date        04/18/02 (confirmed)
 





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

  --------------------
  Closed Bearish Plays
  --------------------

Internet Security - ISSX - cls: 21.20 chg: +1.17 stop: 20.75 

The GSO.X software index has fallen precipitously this month, but 
seems to have found support (at least temporarily) near 140.  
Today's 4.9 percent rise in the GSO was mirrored in shares of 
ISSX, which outperformed the sector and gained 5.84 percent.  A 
bounce from support at $20 this morning could have induced a 
quick short-covering bounce although volume was low.  Still it 
quickly took the stock above our stop at $20.75.  Our play was 
closed out for a gain of 8.1 percent.  With earnings on Tuesday, 
we'd recommend looking elsewhere for bearish software 
opportunities.  CHKP, SAP (currently on the Play List), and 
somewhat surprisingly SYMC are some of the weaker-looking stocks 
in the group.  Readers following this play already know that we 
had achieved our initial target of $20 days ago but had been 
holding on to see if a CHKP-like drop was also in store for ISSX.

Picked on March 26th at $22.58 
Gain since picked:       +1.83
Earnings Date         04/16/02 (confirmed)





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

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

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

Prime Hospitality - PDQ - close: 13.53 change: +0.35 stop: 12.84

Company Description:
Prime Hospitality Corp., one of the nation's premiere lodging 
companies, owns, manages and franchises 234 hotels throughout the 
United States. The Company owns and operates two proprietary 
brands that compete in different segments: AmeriSuites® (all-
suites) and Wellesley Inn & Suites® (limited-service). Also 
within its portfolio are owned and/or managed hotels operated 
under franchise agreements with national hotel chains including 
Hilton, Radisson, Sheraton, Holiday Inn and Ramada. 
(source: company press release)

Why We Like It:
The hospitality and hotel business was hit hard after the 
September 11th attacks.  However, after the brief sell-off when 
the markets reopened, the bullish trend in the sector has been 
very steady.  As more and more economic reports continue to point 
to a slowly strengthening economy, it appears that investors are 
betting that the hotel business might not turn out that bad.  We 
looked at several of the larger players in the group and found 
that PDQ looked pretty attractive.  PDQ's P/E ratio at 15 is less 
than half both the average of the S&P 500 and less than the 
industry average.  The company was cautious about the full year 
numbers in their Q1 report last February but since then the stock 
has been very strong.  This last week has seen the stock bounce 
strongly after some well-deserved profit taking but now it 
appears ready for the next leg higher.  Earnings are planned for 
9:30 a.m. ET on April 25th, 2002 and we hope to ride the stock up 
to the announcement.  We found it very interesting that shares of 
PDQ have been rising on strong volume but tended to pull back 
with only light volume - as if buyers merely stepped back to wait 
for shares to drop before stepping in again.  We like the close 
above $13.50 and would consider this an entry point.  Our stop 
will be at $12.84 as we try and keep it about 5 percent from 
current levels.  More aggressive traders could place their stop 
below the recent lows and use the $12.50 level as a guide.  
Expect some resistance at $14, the March highs and also expect 
some resistance at $15, our initial upside target.

Picked on April 12th at $13.53 
Gain since picked:       +0.00
Earnings Date         04/25/02 (confirmed)
 



---

Pulte Homes - PHM - close: 49.55 change: +1.39 stop: *text*

Company Description:
Pulte Homes, Inc., (www.pulte.com) based in Bloomfield Hills, 
Michigan, has operations in more than 43 markets across the 
United States, Argentina, Puerto Rico and Mexico, where it is the 
fifth-largest builder. Through its Del Webb operations, the 
Company is also the nation's leading builder of active adult 
communities for people age 55 and older. (source: company press 
release)

Why We Like It:
Don't count those homebuilding stocks out yet!  Just as it was 
beginning to look like the two-year boom in home stocks was 
coming to an end, a fresh rally has many of them trading near 
all-time highs.  Wall Street seems to be coming to a consensus 
that the Fed won't be raising rates at the next meeting, which 
means mortgage rates will also stay low.  We strongly considered 
RYL, TOL, MHO and KBH as ways to take advantage of the sector 
bullishness, but ultimately decided on PHM.  Although this stock 
doesn't look quite as overextended as some of the other issues, 
it does offer a potential near-term upside of 10%.  The technical 
picture looks strong as well.  Shares have spent about three 
weeks consolidating under $50, and are threatening to break 
higher.  The MACD is curling higher from below the zero-line, and 
a trade a $51 would create a double-top buy signal on the p-n-f 
chart.  We'd like to confirm a breakout over price resistance for 
going long, so we'll set a trigger at $50.13.  If PHM trades at 
or above that level, this play will be activated with a stop at 
$47.49.  Traders who want to gauge sector strength can do so by 
watching the $DJUSHB home construction index.  The company will 
announce earnings on Tuesday, April 23rd, 2002.

Picked on April 12th at $xx.xx <-- see text
Gain since picked:       +0.00
Earnings Date         04/23/02 (confirmed)
 



---

Wal-Mart Stores - WMT - close: 61.23 change: +1.06 stop: 57.95

Company Description:
Wal-Mart Stores Inc. employs more than one million associates in 
the United States and more than 300,000 internationally. As of 
Feb. 28, 2002, Wal-Mart Stores, Inc. operates more than 2,740 
discount stores, Supercenters and Neighborhood Markets, and more 
than 500 SAM'S CLUBS in the United States. Internationally, the 
company operates more than 1,170 units in Argentina, Brazil, 
Canada, China, Germany, South Korea, Mexico, Puerto Rico and the 
United Kingdom. (source: company press release)

Why We Like It:
We'd been watching WMT over the past few months, waiting for a 
decent pullback to offer an entry.  Until last week, the best we 
ever got was a dip to the bottom of its narrow ascending channel 
before it would continue its march higher.  Now that the stock 
has seen a more substantial pullback, we're going to make our 
move.  The bounce from the 100-dma and subsequent filling-in of 
the April 1st gap down indicates that the bulls still look to be 
in control.  Retailers in general took it on the chin in the 
first month of April, but also staged a nice recovery this week.  
The RLX.X retail index bounced from its 100-dma and is now within 
striking distance of resistance at 980.  It probably isn't 
necessary to harp too much on the fundamental strength of WMT, 
but needless to say, we don't have any concerns about earnings 
warnings in the near-future from the retail behemoth.  We think 
entries can be considered at current levels, although more 
conservative traders can wait for shares to break over $62.  
Those who want to enter on sector strength may want to wait for 
the RLX.X to trade over 980 but then WMT is likely to be the 
cause of that sector strength.  WMT's MACD is curling higher just 
below the zero-line, which leads us to believe that WMT may 
successfully bypass the March high near $64.  We'll initially be 
targeting the top of the ascending regression channel at $66.  
Our stop is in place at $57.95, just below the near-term low.

Picked on April 12th at $61.23 
Gain since picked:       +0.00
Earnings Date         02/19/02 (confirmed)
 




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

CSG Systems - CSGS - close: 24.28 change: -0.53 stop: 26.51

Company Description:
With worldwide headquarters in Englewood, Colo., CSG Systems is a 
subsidiary of CSG Systems International, Inc. CSG and its wholly-
owned subsidiaries serve more than 230 service providers in 40 
countries. CSG is a leader in next-generation billing and 
customer care solutions for the cable television, direct 
broadcast satellite, advanced IP services, next generation 
mobile, and fixed wireline markets. CSG's unique combination of 
proven and future-ready solutions, delivered in both outsourced 
and licensed formats, empowers its clients to deliver 
unparalleled customer service, improve operational efficiencies 
and rapidly bring new revenue- generating products to market. 
(source: company press release)

Why We Like It:
It probably seems like we're picking on the cable industry lately 
but there have been a number of attractive bearish trades in the 
sector.  This one is more of a niche play as CSGS is a customer 
service-type of business for the major players in the cable 
industry.  As you already know, the cable sector has seen strong 
selling pressure for months but the weakness in this play is 
growing and it's due to potential litigation.  Actually, it's 
arbitration but you get the idea.  On March 14th, 2002, shares of 
CSGS were near the top of their descending long-term channel when 
news that AT&T was considering arbitration against CSGS to 
resolve a contract issue.  This happened to be the second time a 
conflict had arisen between the two companies.  CSGS shares 
gapped down significantly because AT&T was their largest 
customer.  The next two weeks, CSGS traded sideways, hugging 
support at the $30 level while analysts speculated on the cause 
and outcome of any potential arbitration.  Some guessed that it 
was a ploy by AT&T to negotiate lower prices from CSGS, since 
AT&T Broadband needed to lower their expenses.  CSGS felt that it 
was an effort by AT&T to try and find an alternative vendor to 
replace CSGS.  The worse case scenario for CSGS was that AT&T 
cancels their contract.  That's big news for CSGS shareholders 
since AT&T Broadband's business was worth nearly 60% of CSGS' 
revenues last year.  CSGS has diversified their income stream 
since then but it would be a huge loss if AT&T left.  The 
standard answer from CSGS is that the complaint is meritless and 
will be dismissed.  Evidently, Wall Street is running out of 
patience because shares of CSGS have fallen through support at 
$30 and now look to be aiming for the $20 level or lower.  One 
analyst pointed out that last time the two companies butted heads 
their negotiations only took eight days.  It has now been about 
four weeks with no resolution.  Speculation is rising that the 
lengthy discussions will translate to stronger odds the two 
companies do go to arbitration to settle.  Technically, the stock 
is very oversold but that doesn't mean it can't keep dropping.  
The recent failed rally at the $26.00 area allowed for a pause in 
the stock's descent and we want to catch the next leg down.  Our 
short-term target is a move to psychological support at $20.  We 
are starting the play with a rather wide stop at $26.51 but more 
conservative traders might be able to use something tighter if 
they wait for shares to trade below the $24.00 level.  Earnings 
are expected on April 29th, but we have not confirmed it.

Picked on April 12th at $24.28 
Gain since picked:       +0.00
Earnings Date         04/29/02 (unconfirmed)
 




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

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

Dole Food CO. - DOL - close: 30.85 change: +0.01 stop: 30.31

The trading action in DOL can be summed up in one word: Flat.  
The stock continued in a narrow trading range today and finished 
with a gain of one cent.  The reason we're holding this play is 
because its trend of higher lows is still intact.  This leads us 
to believe that shares may be coiling for an upside breakout.  
We'll stick with DOL as long as it stays above our stop, but if 
things don't start moving soon we may move it to our long-term 
Play List.  New entries can be evaluated if DOL starts moving to 
the upside and breaks above near-term resistance at $31.  A 
positive way to look at this is DOL's 40-cent trading range has 
not shown any of the broader market volatility (a.k.a. weakness).

Picked on March 1st at $30.94
Gain since picked:      -0.09
Earnings Date        01/31/02 (confirmed)




--- 

Phelps Dodge - PD - close: 39.20 change: -0.88 stop: 38.49

PD traded down today after some negative comments from its CEO 
concerning the state of U.S. copper mining.  To quote CEO Steven 
Whisler: "I think mining, specifically in the U.S., is going to 
continue to be a challenge...The likelihood of finding more 
(copper) in the U.S. is not as great as it is in other parts of 
the world."  PD is a worldwide company with mines in many 
countries, but nonetheless shares were hit for a 2.19 percent 
loss.  Copper futures (hg02j) also traded lower today, and closed 
under their 100-day and 200-day MA's.  If copper continues lower 
it will likely drag PD down as well.  Lest we get too grim with 
the outlook for this play, PD successfully tested its 50-dma and 
has support at current levels.  Aggressive traders may want to 
consider going long at current levels, but the most prudent 
approach would be to wait for a move over today's high of $40.32.  
This would help indicate if the bearish sentiment has blown over 
or not.  Also keep an eye on those copper futures, as they can 
dictate which direction PD moves.

Picked on April 10th at $40.24 
Gain since picked:       -1.04
Earnings Date         04/24/02 (unconfirmed)





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

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

Americredit - ACF - close: 43.15 change: +1.80 stop: 41.24

Nice rebound!  ACF was hit hard yesterday as investors used the 
weak broader market as an excuse for some profit-taking.  
Fortunately the stock recouped some of those losses today, in the 
form of a 4.35 percent rally.  The bounce back is encouraging for 
bulls, and we think the stock looks like it could move over 45.  
However, with earnings coming up on Monday, we're dropping this 
play at today's closing price of 43.15 (this was our strategy in 
Thursday's update).  This represents a 2.4 percent gain from our 
initial entry point.

Picked on April 5th at $42.13 
Gain since picked:      +1.02
Earnings Date        04/15/02 (confirmed)




--- 

Oxford Health - OHP - close: 41.80 change: -1.24 stop: 42.20

Well, that was a fun ride.  OHP's steady rise over the past month 
had yielded all-time highs despite a weak broader market.  
Contributing to the strength of OHP was the HMO.X health provider 
index, which recently has been setting new highs on almost a 
daily basis.  Despite the phenomenal performance of the index, we 
noticed recently that it was approaching the top of its ascending 
channel.  Previous attempts to break over this level were met 
with selling, so it seemed likely that a pullback might occur in 
the near-term.  In light of the overbought appearance of the 
HMO.X, we tightened our stop to $42.20.  Shares dropped below 
that level today, which stopped us out for a gain of 9.4 percent.  
Although OHP is still trending higher, the close under $42 
indicates that it may see more selling first.  Odds of further 
consolidation in the HMO.X seem high as well.

Picked on March 8th at $38.55
Gain since picked       +3.65
Earnings Date        02/05/02 (confirmed)





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

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

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

PayPal - PYPL - close: 21.28 change: +1.87 stop: *text*

Company Description:
PayPal enables any business or consumer with email to send and 
receive online payments securely, conveniently and cost-
effectively. PayPal's account-based network builds on the 
existing financial infrastructure of bank accounts and credit 
cards to create a global payment system. PayPal has more than 15 
million member accounts, including more than 3 million business 
accounts. In 2001, PayPal processed over $3.5 billion in 
payments. (source: company website)

Why We Like It:
It's been a long time since we've had a chance to play a recent 
IPO.  Shares of PYPL opened with a bang in February and after 
some initial selling began to consolidate with overhead 
resistance at $20.  Shares of the stock built a bullish pattern 
with stronger and higher lows.  PYPL broke out above resistance 
on Friday with a 9.6 percent rally.  There is still some overhead 
resistance from its opening day at $22.50 but beyond that it's 
blue-sky territory.  We have a hunch that the stock might pull 
back to the $20 area next week as traders take some of this 
week's profits off the table.  We're going to set this up as a 
high-risk/reward long play but our entry range will be $20.50, 
the high from mid-March, to $20.00, the recently broken 
resistance now turned support (well, it should turn into 
support).  If we are triggered we'll begin with a stop at $17.99 
and readjust our risk as the play progresses.  Earnings are 
expected on Tuesday, April 23rd, 2002 and we have not yet decided 
if we're willing to hold over the event or not.

Picked on April Xth at $xx.xx <-- see text
Change since picked:    +0.00
Earnings Date        04/23/02 (confirmed)
 




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

Cablevision Systems - CVC - cls: 27.05 chg: +0.70 stop: *text*

Company Description:
Cablevision Systems Corporation is one of the nation's leading 
entertainment and telecommunications companies. Its cable 
television operations serve 3 million households located 
primarily in the New York metropolitan area. The company's 
advanced telecommunications offerings include its Lightpath 
integrated business communications services and its Optimum-
branded high-speed Internet service (source: company website)

Why We Like It:
Ever since ADLAC was taken to the woodshed on accounting 
concerns, cable stocks just can't seem to find a bid.  In this 
post-Enron environment, investors flee the entire sector when a 
company utters those four deadly words: "off-balance-sheet 
debt."  Not that the cable sector was a beacon of strength before 
the recent developments but the downdraft does appear to be 
stronger now.  In the case of CVC, these concerns may or may not 
be well-grounded, but Wall Street certainly seems to have a 
negative bias on the stock.  Shares sold off sharply over the 
past few weeks and are currently trading at all-time lows.  
Technically, we like how the stock failed to rally back above $30 
and proceeded to trade below the March 4th low.  The p-n-f chart, 
daily stochastics, and MACD are very bearish as well.  With no 
support levels below, it's hard to say where the CVC will finally 
find support.  The p-n-f bearish vertical count is all the way 
down at $15.  In terms of entries, we're going to use the "inside 
day" approach.  If CVC trades below today's low of $26.25, we'll 
initiate this play with a stop at $30.06.  However, since this is 
a high-risk play we're going to be a little more flexible with 
our entry price.  If the stock goes higher from current levels 
and rolls over near the 10-dma at $29, we might consider moving 
our "trigger price" higher in order to take advantage of the 
failed rally.  Of course, we'd avoid going short if the stock 
rallies above $30.  Our profit target would be a move to the $20 
area.

Picked on April 12th at $xx.xx <- see text
Change since picked:     +0.00
Earnings Date         05/14/02 (unconfirmed)
 




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

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

Hartford Financial - HIG - cls: 68.62 chg: +0.17 stop: 66.49

HIG continues to consolidate under $70.  Today's trading was 
without much conviction, as shares spent most of the day see-
sawing between either side of break-even.  Volume was also the 
lowest since Monday.  The stock eventually closed in the green 
with a 0.24 percent gain.  It's hard to read too much into 
today's action, but we like shares found intraday support at $68.  
Traders may want to target entries on another dip to that level, 
but be aware of the overhead resistance at $70.  We're 
maintaining our stop below the 50-dma, although conservative 
traders may want to consider taking profits if HIG falls below 
the 20-dma at $67.91.

Picked on March 13th at $65.74
Gain since picked:       +2.88
Earnings Date         04/22/02 (confirmed)
 



---

Southwest Airlines - LUV - cls: 19.26 chg: +0.92 stop: 17.99

Intriguing political events in South America led to a substantial 
gain in shares of LUV today.  It all began when Venezuela's left-
leaning government was toppled by what appear to be "market-
friendly" forces.  This alone is a positive development for the 
world economy, but what really impacted the market today was its 
effect on oil prices.  Prior to the change of government, 
Venezuela was more-or-less an OPEC nation.  The new leaders of 
the country intend to disregard the advise of OPEC and increase 
oil production.  As you might expect, this had the price of oil 
(cl02k) doing a swan dive.  Already in a week-long downtrend, the 
cost per barrel dropped another $1.52 today.  This helped the 
fuel-sensitive Airline Index (XAL.X) to a 4.37 percent gain.  
Adding to the bullish sector sentiment was today's well-received 
Jet Blue (JBLU) IPO, which added 66 percent in its first day of 
trading.  A more seasonal factor also came into play for the 
airlines as one of the larger carriers raised their rates, as 
they traditionally do for summer time travel, and most of the 
larger carriers matched it by the end of the day.  Analysts 
speculate that this could be a sign that business truly is 
improving for the industry.  All this news added up to a fine day 
for LUV.  The stock had been consolidating under resistance at 
$19, but left that level in the dust with today's 5 percent 
rally.  Now that the stock has moved out of its recent range, a 
near-term move to $20 is not out of the question.  Traders 
looking to go long can target dips back to $19 or the 100-dma 
($19.08).  Those who want to enter at current levels need to be 
aware of the 50-dma at $19.57, which has previously acted as 
resistance.  We are targeting a move towards the $22 area.  
Fortunately, the strong close for the XAL back over the 100 level 
and its 200-dma plus a bullish MACD for LUV might be indicating a 
growing possibility.

Picked on April 4th at $18.94
Gain since picked:      +0.32
Earnings Date        04/18/02 (unconfirmed)
 





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

  --------------------
  Closed Bearish Plays
  --------------------

Juniper Networks - JNPR - cls: 10.90 chg: +0.56 stop: 10.76

Based on the after-hours trading, we speculated in last night's 
update that JNPR would likely head higher this morning.  We also 
lowered our stop to $10.76 to avoid getting caught in a strong 
upside move.  Sure enough, the stock gapped higher today.  Shares 
opened at $10.84, at which point we closed the play with a gain 
of 5 percent.  JNPR continued to be strong for the remainder of 
the session and finished with a 5.4% gain.  Many shorts probably 
elected to cover their positions after the company failed to 
announce an earnings warning for the next quarter.  Well, 
management did say earnings would be flat and probably mirror the 
Q1 numbers.  Traditionally, we wouldn't see this as a bullish 
statement but it's our guess that traders were looking for more 
dire predictions about the future results.  Several brokerages 
also reiterated their buy ratings on the stock although we doubt 
that carries much weight these days.  Due to the overwhelming 
weakness in the telecom sector we happen to think that JNPR may 
eventually sink below support at $9.00, so a rollover at the 
$12.00 level might be worth taking a look at.  Keep your eyes on 
the NWX.X networking index as well.  It looks headed for its 
September lows.

Picked on April 5th at $11.42
Gain since picked:      +0.58
Earnings Date        04/11/02 (confirmed)




---

QUALCOMM - QCOM - close: 35.71 change: +1.07 stop: 36.06

Today's NASDAQ rebound gave shares of QCOM a 3 percent boost in a 
late day move.  The stock had been looking tepid until it added a 
quick $1.60 to its price in the final two hours of trading.  The 
intraday high was exactly $36.14, which happened to be several 
cents above our stop loss.  This closed out the play for a +8.6 
percent gain from our original entry point.  QCOM is still in a 
clear downtrend, but the downside may be limited by potential 
support at the February lows near $33.  Those still looking to 
short telecom may want to look at NOK, which looks even weaker 
than QCOM.  Check the watch list this weekend for more bearish 
trading ideas.

Picked on March 25th at $39.47
Change since picked:     +3.41
Earnings Date         04/24/02 (unconfirmed)






==================================================================
Long-Term Plays (LT) section
==================================================================

===============
LT Play Updates
===============

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

-- look for these in Monday's newsletter --



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

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

IBOX announces 25% Stock Dividend.

Late in the trading session on Friday, International Bancshares 
Corp (NASDAQ:IBOC) announced that their Board of Directors had 
approved a 5-for-4 stock split in their recent April meeting.

The stock split, or more correctly, the 25% stock dividend would 
be payable on June 14th, 2002 for shareholders of record on May 
20th.

IBOC closed at $47.47 on Friday. For a current quote, click 
here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=IBOC

About the company
International Bancshares Corporation is a multi-bank, financial 
holding company headquartered in Laredo, Texas. It has $6.4 
billion in assets and a network of facilities and ATMs serving 
communities that include Houston, San Antonio, Corpus Christi, 
McAllen, Brownsville, Port Lavaca, Zapata, Eagle Pass and several 
others throughout the central, southern and Gulf Coast regions of 
Texas. (source: company press release)





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PremierInvestor.net Newsletter         Weekend Edition 04-12-2002
                                                   Section 3 of 3
Copyright © 2001, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================

In section three:

Market Watch for Week of April 15th
   - Major Earnings
   - Stock Splits
   - Economic Reports

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

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


==================================================
Market Watch for the week of April 15th
==================================================

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

Symbol  Company               Date           Comment      EPS Est

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

ACF    AmeriCredit            Mon, Apr 15  After the Bell    0.97
ARMHY  ARM Holdings Plc.      Mon, Apr 15  Before the Bell   0.05
ADP    Automatic Data Prcsing Mon, Apr 15  -----N/A-----     0.55
BAC    Bank of America        Mon, Apr 15  Before the Bell   1.34
BRE    BRE Properties         Mon, Apr 15  After the Bell    0.69
CSL    Carlisle Companies     Mon, Apr 15  After the Bell    0.39
ZNH    China Southern Airline Mon, Apr 15  -----N/A-----      N/A
C      Citigroup              Mon, Apr 15  -----N/A-----     0.78
CBCF   Citizens Banking       Mon, Apr 15  -----N/A-----     0.57
CBSS   Compass Bancshares     Mon, Apr 15  -----N/A-----     0.57
CAL    Continental Airlines   Mon, Apr 15  -----N/A-----    -1.97
DORL   Doral Financial        Mon, Apr 15  After the Bell    0.85
DOV    Dover                  Mon, Apr 15  After the Bell    0.25
ETN    Eaton                  Mon, Apr 15  Before the Bell   0.86
LLY    Eli Lilly              Mon, Apr 15  Before the Bell   0.58
ETH    Ethan Allen Interiors  Mon, Apr 15  -----N/A-----     0.57
FHR    Fairmnt Hotls & Rsrts  Mon, Apr 15  Before the Bell   0.03
FNM    Fannie Mae             Mon, Apr 15  -----N/A-----     1.47
GGG    Graco                  Mon, Apr 15  Before the Bell   0.50
HU     Hudson United Bancorp  Mon, Apr 15  Before the Bell   0.55
GMH    Hughes Electronics     Mon, Apr 15  Before the Bell  -0.13
HGSI   Human Genome Sciences  Mon, Apr 15  Before the Bell  -0.32
MHK    Mohawk Industries      Mon, Apr 15  -----N/A-----     0.67
NCF    Ntl Cmrce Fincial Corp Mon, Apr 15  After the Bell    0.37
NFB    North Fork Bancorp     Mon, Apr 15  Before the Bell   0.58
NTRS   Northern Trust         Mon, Apr 15  Before the Bell   0.57
NVLS   Novellus Systems       Mon, Apr 15  After the Bell   -0.09
PKG    Packaging Corp of Ame  Mon, Apr 15  Before the Bell   0.08
PRK    Park National          Mon, Apr 15  -----N/A-----      N/A
PBG    Pepsi Bottling Group   Mon, Apr 15  Before the Bell   0.18
PTR    PetroChina Co Limited  Mon, Apr 15  -----N/A-----      N/A
RLRN   Renaissance Lrning Inc Mon, Apr 15  After the Bell    0.18
SGR    Shaw Group The         Mon, Apr 15  Before the Bell   0.49
SWBT   Southwest Bancorp TX   Mon, Apr 15  After the Bell    0.40
FON    Sprint (FON Group)     Mon, Apr 15  After the Bell    0.30
PCS    Sprint (PCS Group)     Mon, Apr 15  After the Bell   -0.20
TIN    Temple Inland          Mon, Apr 15  After the Bell    0.36
TXN    Texas Instruments      Mon, Apr 15  After the Bell    0.00
NYT    The NY Times Company   Mon, Apr 15  Before the Bell   0.37
TMS    Thomson Multimedia     Mon, Apr 15  -----N/A-----      N/A
TSS    TSYS                   Mon, Apr 15  -----N/A-----     0.14
UIS    Unisys                 Mon, Apr 15  After the Bell    0.08

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

ADVS   Advent Software        Tue, Apr 16  After the Bell    0.22
AL     Alcan Inc.             Tue, Apr 16  -----N/A-----     0.31
ASD    American Standard      Tue, Apr 16  Before the Bell   0.76
ASO    AmSouth Bancorporation Tue, Apr 16  Before the Bell   0.40
ONE    Bank One               Tue, Apr 16  Before the Bell   0.66
BCC    Boise Cascade          Tue, Apr 16  Before the Bell  -0.16
BSX    Boston Scientific      Tue, Apr 16  After the Bell    0.20
BCR    C.R. Bard              Tue, Apr 16  After the Bell    0.78
CDN    Cadence Design Systems Tue, Apr 16  After the Bell    0.22
COF    Capital One Financial  Tue, Apr 16  After the Bell    0.81
CAT    Caterpillar            Tue, Apr 16  Before the Bell   0.24
CEC    CEC Entertainment      Tue, Apr 16  After the Bell    0.96
CNT    CenterPoint Prop Trust Tue, Apr 16  After the Bell    0.96
CEN    Ceridian               Tue, Apr 16  Before the Bell   0.15
CYN    City National          Tue, Apr 16  Before the Bell   0.83
CMA    Comerica               Tue, Apr 16  Before the Bell   1.19
CBSH   Commerce Bancshares    Tue, Apr 16  Before the Bell   0.71
DAL    Delta Air Lines        Tue, Apr 16  Before the Bell  -2.87
DFXI   Direct Focus           Tue, Apr 16  After the Bell    0.55
DSL    Downey Financial       Tue, Apr 16  Before the Bell   1.07
EMMS   Emmis Communications   Tue, Apr 16  Before the Bell  -0.56
ESV    ENSCO International    Tue, Apr 16  Before the Bell   0.06
FBAN   F.N.B. Corporation     Tue, Apr 16  After the Bell    0.51
FSS    Federal Signal         Tue, Apr 16  Before the Bell   0.22
FITB   Fifth Third Bancorp    Tue, Apr 16  Before the Bell   0.66
FTN    First Tennessee Ntl    Tue, Apr 16  Before the Bell   0.61
FBF    FleetBoston Financial  Tue, Apr 16  Before the Bell   0.70
GCI    Gannett                Tue, Apr 16  Before the Bell   0.91
GM     General Motors         Tue, Apr 16  Before the Bell   1.13
GNTX   Gentex                 Tue, Apr 16  Before the Bell   0.22
GPC    Genuine Parts          Tue, Apr 16  -----N/A-----     0.50
GSF    GlobalSantaFe Corp.    Tue, Apr 16  After the Bell    0.33
GSB    Golden State Bancorp   Tue, Apr 16  Before the Bell   0.85
GDW    Golden West Financial  Tue, Apr 16  -----N/A-----     1.39
GBBK   Greater Bay Bancorp    Tue, Apr 16  Before the Bell   0.51
HDI    Harley-Davidson        Tue, Apr 16  After the Bell    0.36
HDB    Hdfc Bank Limited      Tue, Apr 16  -----N/A-----      N/A
HNI    Hon Industries         Tue, Apr 16  Before the Bell   0.26
HCBK   Hudson City Bancorp    Tue, Apr 16  -----N/A-----     0.42
ITWO   i2 Technologies        Tue, Apr 16  -----N/A-----    -0.08
IEX    Idex                   Tue, Apr 16  -----N/A-----     0.37
N      Inco                   Tue, Apr 16  After the Bell    0.11
INTC   Intel                  Tue, Apr 16  After the Bell    0.15
ISSX   Internet Security Sys  Tue, Apr 16  After the Bell    0.10
IFIN   Investors Fin Srvs     Tue, Apr 16  Before the Bell   0.46
JKHY   Jack Henry & Assoc     Tue, Apr 16  Before the Bell   0.17
JNC    John Nuveen            Tue, Apr 16  Before the Bell   0.58
JNJ    Johnson & Johnson      Tue, Apr 16  -----N/A-----     0.58
JCI    Johnson Controls       Tue, Apr 16  -----N/A-----     1.16
KFT    Kraft Foods Inc.       Tue, Apr 16  After the Bell    0.44
LLTC   Linear Technology      Tue, Apr 16  After the Bell    0.15
MTB    M&T Bank               Tue, Apr 16  Before the Bell   1.20
MAN    Manpower               Tue, Apr 16  Before the Bell   0.08
MYG    Maytag                 Tue, Apr 16  Before the Bell   0.71
MEL    Mellon Financial Corp  Tue, Apr 16  Before the Bell   0.45
MLNM   Millennium Pharm       Tue, Apr 16  After the Bell   -0.24
MKSI   MKS Instruments        Tue, Apr 16  After the Bell   -0.14
MOT    Motorola               Tue, Apr 16  After the Bell   -0.12
MLI    Mueller Industries     Tue, Apr 16  Before the Bell   0.60
PH     Parker Hannifin        Tue, Apr 16  Before the Bell   0.36
PNR    Pentair                Tue, Apr 16  Before the Bell   0.38
PII    Polaris Industries     Tue, Apr 16  Before the Bell   0.47
PCH    Potlatch               Tue, Apr 16  After the Bell   -0.63
PMTC   PTC                    Tue, Apr 16  Before the Bell  -0.01
PEG    Pblic Service Ent Grp  Tue, Apr 16  During the Market 1.11
RJF    Raymond James          Tue, Apr 16  -----N/A-----     0.44
RNWK   RealNetworks           Tue, Apr 16  After the Bell    0.01
RFMD   RF Micro Devices       Tue, Apr 16  After the Bell    0.01
RHI    Robert Half Inter      Tue, Apr 16  After the Bell    0.05
COL    Rockwell Collins, Inc. Tue, Apr 16  Before the Bell   0.28
RDC    Rowan Companies        Tue, Apr 16  Before the Bell  -0.12
PHG    Royal Philips          Tue, Apr 16  Before the Bell    N/A
STT    State Street           Tue, Apr 16  Before the Bell   0.54
STN    Station Casinos        Tue, Apr 16  Before the Bell   0.17
SNV    Synovus Financial      Tue, Apr 16  -----N/A-----     0.29
TDS    Telephone Data         Tue, Apr 16  Before the Bell   0.64
TER    Teradyne               Tue, Apr 16  After the Bell   -0.41
KO     The Coca-Cola Company  Tue, Apr 16  Before the Bell   0.38
THQI   THQ Inc                Tue, Apr 16  After the Bell    0.06
TKR    Timken                 Tue, Apr 16  During the Market 0.17
USM    U.S. Cellular          Tue, Apr 16  Before the Bell   0.50
USB    US Bancorp             Tue, Apr 16  -----N/A-----     0.44
VRTS   Veritas Software       Tue, Apr 16  After the Bell    0.13
VTSS   Vitesse Semiconductor  Tue, Apr 16  After the Bell   -0.11
WM     Washington Mutual      Tue, Apr 16  After the Bell    0.98
WFC    Wells Fargo            Tue, Apr 16  Before the Bell   0.78
WABC   Westamerica Bancorp    Tue, Apr 16  -----N/A-----     0.63

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

AEIS   Advanced Enrgy Indstrs Wed, Apr 17  Before the Bell  -0.32
AMD    Advanced Micro Devices Wed, Apr 17  After the Bell   -0.06
ALEX   Alexander&Baldwin      Wed, Apr 17  After the Bell     N/A
ATI    Allegheny Technologies Wed, Apr 17  Before the Bell  -0.13
ADS    Alliance Data Sys Corp Wed, Apr 17  After the Bell    0.13
ALL    Allstate               Wed, Apr 17  Before the Bell   0.58
ABK    Ambac Financial        Wed, Apr 17  Before the Bell   1.08
APH    Amphenol               Wed, Apr 17  -----N/A-----     0.39
AMR    AMR                    Wed, Apr 17  -----N/A-----    -3.52
AAPL   Apple Computer         Wed, Apr 17  After the Bell    0.10
AVX    AVX Corporation        Wed, Apr 17  Before the Bell   0.00
BK     Bank of New York       Wed, Apr 17  Before the Bell   0.51
BSG    BISYS Group            Wed, Apr 17  After the Bell    0.27
BOKF   BOK Financial          Wed, Apr 17  -----N/A-----     0.56
BRCM   Broadcom               Wed, Apr 17  After the Bell   -0.10
BOBJ   Business Objects SA    Wed, Apr 17  After the Bell    0.16
CDWC   CDW Computer Centers   Wed, Apr 17  After the Bell    0.45
CLS    Celestica              Wed, Apr 17  -----N/A-----     0.28
CD     Cendant                Wed, Apr 17  After the Bell    0.31
CERN   Cerner                 Wed, Apr 17  After the Bell    0.25
CNXT   Conexant Systems       Wed, Apr 17  After the Bell   -0.37
COTT   Cott Corp              Wed, Apr 17  After the Bell    0.09
DCN    Dana                   Wed, Apr 17  -----N/A-----     0.15
DPH    Delphi                 Wed, Apr 17  Before the Bell   0.21
XRAY   DENTSPLY International Wed, Apr 17  After the Bell    0.38
DV     DeVry                  Wed, Apr 17  After the Bell    0.25
DUK    Duke Energy            Wed, Apr 17  Before the Bell   0.41
ET     E*TRADE                Wed, Apr 17  After the Bell    0.07
ESRX   Express Scripts A      Wed, Apr 17  After the Bell    0.53
EXTR   Extreme Networks       Wed, Apr 17  After the Bell    0.02
FMBI   First Midwest Bancorp  Wed, Apr 17  Before the Bell   0.45
F      Ford Motor Company     Wed, Apr 17  Before the Bell  -0.15
GD     General Dynamics       Wed, Apr 17  Before the Bell   1.11
GENZ   Genzyme                Wed, Apr 17  -----N/A-----     0.23
HRS    Harris                 Wed, Apr 17  -----N/A-----     0.34
HI     Household Interntl     Wed, Apr 17  Before the Bell   1.04
ITW    Illinois Tool Works    Wed, Apr 17  Before the Bell   0.60
IBM    Inter Business Machine Wed, Apr 17  After the Bell    0.68
ITG    Investment Tech Grp    Wed, Apr 17  Before the Bell   0.45
JPM    J.P. Morgan Chase & Co Wed, Apr 17  Before the Bell   0.53
JEF    Jefferies Group        Wed, Apr 17  Before the Bell   0.57
KEY    KeyCorp                Wed, Apr 17  Before the Bell   0.55
KMI    Kinder Morgan          Wed, Apr 17  -----N/A-----     0.65
KMI    Kinder Morgan          Wed, Apr 17  After the Bell    0.65
LRCX   Lam Research           Wed, Apr 17  After the Bell   -0.17
LEG    Leggett & Platt        Wed, Apr 17  After the Bell    0.25
LECO   Lincoln Electric       Wed, Apr 17  Before the Bell   0.44
LIN    Linens `n Things       Wed, Apr 17  Before the Bell   0.09
MER    Merrill Lynch          Wed, Apr 17  Before the Bell   0.64
MXT    Metris Companies       Wed, Apr 17  Before the Bell   0.54
MGG    MGM MIRAGE             Wed, Apr 17  -----N/A-----     0.34
NAP    National Processing    Wed, Apr 17  Before the Bell   0.22
NYCB   New York Com Bancorp   Wed, Apr 17  Before the Bell   0.46
NXTL   Nextel Communications  Wed, Apr 17  Before the Bell  -0.40
GAS    Nicor                  Wed, Apr 17  After the Bell    0.84
NOC    Northrop Grumman       Wed, Apr 17  Before the Bell   1.08
OO     Oakley                 Wed, Apr 17  Before the Bell   0.05
ODP    Office Depot           Wed, Apr 17  Before the Bell   0.31
PFE    Pfizer                 Wed, Apr 17  -----N/A-----     0.39
PPDI   Pharm Product Develop  Wed, Apr 17  After the Bell    0.27
MO     Philip Morris          Wed, Apr 17  -----N/A-----     1.13
PLCM   Polycom Incorporated   Wed, Apr 17  After the Bell    0.17
PP     Prentiss Properties    Wed, Apr 17  After the Bell    0.85
PGR    Progressive            Wed, Apr 17  After the Bell    2.36
PFGI   Provident Finan Grp    Wed, Apr 17  Before the Bell   0.52
PSD    Puget Sound Energy     Wed, Apr 17  Before the Bell   0.25
RTN    Raytheon Co.           Wed, Apr 17  After the Bell    0.36
RETK   Retek                  Wed, Apr 17  Before the Bell   0.07
RSLN   Roslyn Bancorp         Wed, Apr 17  Before the Bell   0.38
SNDK   SanDisk                Wed, Apr 17  After the Bell   -0.26
SLB    Schlumberger           Wed, Apr 17  After the Bell    0.36
SEIC   SEI Investments        Wed, Apr 17  Before the Bell   0.30
SIB    SI Bank & Trust        Wed, Apr 17  After the Bell    0.38
SEBL   Siebel Systems         Wed, Apr 17  After the Bell    0.12
SKYF   Sky Financial Group    Wed, Apr 17  -----N/A-----     0.38
SON    Sonoco Products        Wed, Apr 17  -----N/A-----     0.36
STJ    St. Jude Medical       Wed, Apr 17  Before the Bell   0.65
SYK    Stryker                Wed, Apr 17  After the Bell    0.40
TCB    TCF Financial          Wed, Apr 17  Before the Bell   0.74
TE     TECO Energy            Wed, Apr 17  -----N/A-----     0.51
TFX    Teleflex               Wed, Apr 17  After the Bell    0.76
TLK    Telekomunikasi Indones Wed, Apr 17  -----N/A-----      N/A
TLAB   Tellabs                Wed, Apr 17  -----N/A-----     0.01
TRW    TRW                    Wed, Apr 17  Before the Bell   0.64
UB     UnionBanCal            Wed, Apr 17  After the Bell    0.67
UTX    United Technologies    Wed, Apr 17  Before the Bell   0.90
VLY    Valley National Banco  Wed, Apr 17  -----N/A-----     0.47
WFSL   Wash Federal           Wed, Apr 17  After the Bell    0.56
WBST   Webster Financial      Wed, Apr 17  Before the Bell   0.80
WHR    Whirlpool              Wed, Apr 17  Before the Bell   1.28

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

AFCI   Advanced Fibre Comm    Thu, Apr 18  After the Bell    0.05
AZ     ALLIANZ AG             Thu, Apr 18  -----N/A-----      N/A
AMCR   Amcor Limited          Thu, Apr 18  -----N/A-----      N/A
AXP    American Express       Thu, Apr 18  -----N/A-----     0.43
ANDW   Andrew Corporation     Thu, Apr 18  After the Bell    0.05
ATR    AptarGroup             Thu, Apr 18  After the Bell    0.44
ARB    Arbitron               Thu, Apr 18  Before the Bell   0.48
ARM    ArvinMeritor Inc.      Thu, Apr 18  Before the Bell   0.52
ASBC   Associated Banc-Corp   Thu, Apr 18  -----N/A-----     0.72
ASFC   Astoria Financial      Thu, Apr 18  Before the Bell   0.69
ATML   Atmel                  Thu, Apr 18  After the Bell   -0.07
ALV    Autoliv                Thu, Apr 18  Before the Bell   0.33
AVCT   Avocent Corporation    Thu, Apr 18  Before the Bell   0.17
AVP    Avon Products          Thu, Apr 18  Before the Bell   0.37
BXS    BancorpSouth           Thu, Apr 18  After the Bell    0.32
BKNG   Banknorth Group        Thu, Apr 18  Before the Bell   0.48
BAX    Baxter International   Thu, Apr 18  Before the Bell   0.41
BYD    Boyd Gaming            Thu, Apr 18  After the Bell    0.28
BGG    Briggs & Stratton      Thu, Apr 18  Before the Bell   1.70
BR     Burlington Resources   Thu, Apr 18  Before the Bell   0.02
ELY    Callaway Golf          Thu, Apr 18  After the Bell    0.42
POS    Catalina Marketing     Thu, Apr 18  -----N/A-----     0.38
CHRT   Chartered Semi Manu    Thu, Apr 18  After the Bell   -0.97
CAKE   Cheesecake Factory     Thu, Apr 18  After the Bell    0.20
CNF    CNF Inc.               Thu, Apr 18  Before the Bell   0.08
CCE    Coca-Cola Enterprises  Thu, Apr 18  Before the Bell  -0.02
CL     Colgate-Palmolive      Thu, Apr 18  Before the Bell   0.49
CFBX   Community First Banksh Thu, Apr 18  Before the Bell   0.47
CPQ    Compaq Computer        Thu, Apr 18  After the Bell    0.01
ED     Consolidated Edison    Thu, Apr 18  -----N/A-----     0.81
CTB    Cooper Tire & Rubber   Thu, Apr 18  Before the Bell   0.35
CPO    Corn Products Inter    Thu, Apr 18  Before the Bell   0.23
CR     Crane                  Thu, Apr 18  Before the Bell   0.35
CCK    Crown Cork & Seal      Thu, Apr 18  Before the Bell  -0.12
CY     Cypress Semiconductor  Thu, Apr 18  Before the Bell  -0.13
DLX    Deluxe                 Thu, Apr 18  Before the Bell    N/A
DL     Dial                   Thu, Apr 18  Before the Bell   0.22
DO     Diamond Ofshre Drlng   Thu, Apr 18  Before the Bell   0.16
DOL    Dole Food              Thu, Apr 18  Before the Bell   0.68
D      Dominion Resources     Thu, Apr 18  -----N/A-----     1.28
EBAY   eBay                   Thu, Apr 18  After the Bell    0.16
EMLX   Emulex                 Thu, Apr 18  After the Bell    0.13
EFX    Equifax                Thu, Apr 18  Before the Bell   0.30
FMER   FirstMerit             Thu, Apr 18  Before the Bell   0.51
FMC    FMC                    Thu, Apr 18  After the Bell    0.41
FO     Fortune Brands         Thu, Apr 18  -----N/A-----     0.55
GTW    Gateway                Thu, Apr 18  After the Bell   -0.20
GP     Georgia-Pacific        Thu, Apr 18  Before the Bell   0.27
GPT    GreenPoint Financial   Thu, Apr 18  Before the Bell   1.25
GDT    Guidant                Thu, Apr 18  After the Bell    0.47
HSY    Hershey Foods          Thu, Apr 18  -----N/A-----     0.66
HON    Honeywell              Thu, Apr 18  -----N/A-----     0.45
HBAN   Huntington Bancshares  Thu, Apr 18  Before the Bell   0.31
IDPH   Idec Pharmaceuticals   Thu, Apr 18  After the Bell    0.16
RX     IMS Health             Thu, Apr 18  After the Bell    0.20
IR     Ingersoll-Rand Co. Ltd Thu, Apr 18  Before the Bell   0.58
INET   Instinet Group Llc     Thu, Apr 18  After the Bell     N/A
IVC    Invacare               Thu, Apr 18  -----N/A-----     0.38
ESI    ITT Educational Serv   Thu, Apr 18  Before the Bell   0.25
JEC    Jacobs Engin Grp Inc.  Thu, Apr 18  Before the Bell   0.48
KLAC   KLA-Tencor             Thu, Apr 18  -----N/A-----     0.15
LIZ    Liz Claiborne          Thu, Apr 18  Before the Bell   0.45
MAR    Marriott International Thu, Apr 18  -----N/A-----     0.27
MAT    Mattel                 Thu, Apr 18  Before the Bell  -0.01
MCD    McDonald`s             Thu, Apr 18  Before the Bell   0.29
MEG    Media General          Thu, Apr 18  Before the Bell   0.21
MRK    Merck                  Thu, Apr 18  Before the Bell   0.71
MSFT   Microsoft              Thu, Apr 18  -----N/A-----     0.51
MTX    Minerals Technologies  Thu, Apr 18  After the Bell    0.65
MOLX   Molex                  Thu, Apr 18  After the Bell    0.10
NBR    Nabors Industries      Thu, Apr 18  -----N/A-----     0.26
NCC    National City          Thu, Apr 18  Before the Bell   0.60
NATI   National Instruments   Thu, Apr 18  After the Bell    0.15
NCR    NCR                    Thu, Apr 18  Before the Bell   0.03
NTIQ   NetIQ                  Thu, Apr 18  After the Bell    0.22
NOK    Nokia                  Thu, Apr 18  Before the Bell   0.15
NT     Nortel Networks        Thu, Apr 18  After the Bell   -0.14
NBP    Northern Border Partns Thu, Apr 18  After the Bell    0.61
NWAC   Northwest Airlines     Thu, Apr 18  -----N/A-----    -2.46
NVS    Novartis AG            Thu, Apr 18  -----N/A-----      N/A
NUE    Nucor                  Thu, Apr 18  Before the Bell   0.20
ONB    Old National Bancorp   Thu, Apr 18  Before the Bell   0.43
PBCT   People`s Bank          Thu, Apr 18  -----N/A-----     0.18
PBI    Pitney Bowes           Thu, Apr 18  After the Bell    0.53
PCL    Plum Creek Timber      Thu, Apr 18  After the Bell    0.21
PMCS   PMC-Sierra             Thu, Apr 18  After the Bell   -0.12
PHCC   Priority Healthcare    Thu, Apr 18  Before the Bell   0.21
PUK    Prudential PLC         Thu, Apr 18  -----N/A-----      N/A
DGX    Quest Diagnostics      Thu, Apr 18  After the Bell    0.60
QTRN   Quintiles Transnatinal Thu, Apr 18  -----N/A-----     0.14
RJR    R.J. Reynolds Tobacco  Thu, Apr 18  Before the Bell   1.76
RATL   Rational Software      Thu, Apr 18  After the Bell    0.09
RG     Rogers Communications  Thu, Apr 18  Before the Bell    N/A
TSG    Sabre Holdings Corp    Thu, Apr 18  Before the Bell   0.59
SANM   Sanmina-SCI Corp.      Thu, Apr 18  After the Bell    0.00
SAP    SAP A.G. ADS           Thu, Apr 18  -----N/A-----     0.10
SBC    SBC Communications     Thu, Apr 18  -----N/A-----     0.51
SGP    Schering-Plough        Thu, Apr 18  Before the Bell   0.41
SFA    Scientific-Atlanta     Thu, Apr 18  -----N/A-----     0.26
SCIO   Scios                  Thu, Apr 18  Before the Bell  -0.54
S      Sears Roebuck          Thu, Apr 18  Before the Bell   0.83
SHW    Sherwin-Williams       Thu, Apr 18  -----N/A-----     0.21
SIVB   Silicon Valley Bancsh  Thu, Apr 18  After the Bell    0.28
SKFR   SKF AB ADR             Thu, Apr 18  -----N/A-----      N/A
SO     Southern Company       Thu, Apr 18  Before the Bell   0.29
LUV    Southwest Airlines     Thu, Apr 18  -----N/A-----     0.03
SOV    Sovereign Bancorp      Thu, Apr 18  After the Bell    0.29
STU    Student Loan           Thu, Apr 18  After the Bell     N/A
SUNW   Sun Microsystems       Thu, Apr 18  After the Bell   -0.02
SUP    Superior Industries    Thu, Apr 18  Before the Bell   0.58
SY     Sybase                 Thu, Apr 18  After the Bell    0.21
SBL    Symbol Technologies    Thu, Apr 18  After the Bell    0.03
TXT    Textron                Thu, Apr 18  Before the Bell   0.45
MNI    The McClatchy Company  Thu, Apr 18  Before the Bell   0.49
TBL    Timberland             Thu, Apr 18  Before the Bell   0.21
TMK    Torchmark              Thu, Apr 18  Before the Bell   0.84
TQNT   TriQuint Semiconductor Thu, Apr 18  After the Bell   -0.01
UMBF   UMB Financial          Thu, Apr 18  -----N/A-----     0.81
UPC    Union Planters         Thu, Apr 18  -----N/A-----     0.90
UPS    United Parcel Service  Thu, Apr 18  Before the Bell   0.47
UNH    UnitedHealth Group     Thu, Apr 18  Before the Bell   0.85
SLM    USA Education          Thu, Apr 18  -----N/A-----     1.04
UTSI   UTStarcom              Thu, Apr 18  After the Bell    0.15
WB     Wachovia               Thu, Apr 18  -----N/A-----     0.65
WTNY   Whitney Holding        Thu, Apr 18  -----N/A-----     0.52
WL     Wilmington Trust       Thu, Apr 18  -----N/A-----     1.00
XLNX   Xilinx                 Thu, Apr 18  After the Bell    0.09
ZION   Zions Bancorp          Thu, Apr 18  After the Bell    0.89

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

AKS    AK Steel Holding       Fri, Apr 19  After the Bell   -0.12
LNT    Alliant Energy         Fri, Apr 19  After the Bell    0.37
ASH    Ashland                Fri, Apr 19  Before the Bell  -0.12
BLS    BellSouth              Fri, Apr 19  Before the Bell   0.56
CPS    ChoicePoint            Fri, Apr 19  Before the Bell   0.41
ELUX   Electrolux AB ADR      Fri, Apr 19  -----N/A-----     0.53
EQT    Equitable Resources    Fri, Apr 19  Before the Bell   0.84
ERIE   Erie Indemnity         Fri, Apr 19  -----N/A-----     0.58
FPL    FPL Group              Fri, Apr 19  Before the Bell   0.79
IP     International Paper    Fri, Apr 19  Before the Bell   0.07
LAB    LaBranche & Co Inc.    Fri, Apr 19  Before the Bell   0.37
TRB    Tribune                Fri, Apr 19  -----N/A-----     0.29
UST    UST Inc                Fri, Apr 19  Before the Bell   0.62
VC     Visteon                Fri, Apr 19  Before the Bell   0.00
WPO    Washington Post        Fri, Apr 19  -----N/A-----     2.24
WIT    Wipro Limited          Fri, Apr 19  Before the Bell   0.22
ZBRA   Zebra Technologies     Fri, Apr 19  Before the Bell   0.52


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

Symbol  Company Name              Ratio    Payable     Executable

AMAT    Applied Materials         2:1      04/15       04/16
WRI     Weingarten Realty Invstor 3:2      04/15       04/16
CATY    Cathay Bancorp            2:1      04/16       04/17
ADSK    Autodesk                  2:1      04/17       04/18
PGR     Progressive Corp          3:1      04/19       04/20
MASB    MASSBANK                  3:2      04/19       04/20
FSBK    First South Bancorp       3:2      04/19       04/22
ONFC    Oneida Financial          3:2      04/23       04/24
DF      Dean Foods                2:1      04/23       04/24
APOL    Apollo Group              3:2      04/24       04/25
UOPX    University of Phoenix     4:3      04/24       04/25
MTH     Meritage Corp             2:1      04/25       04/26


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

Earnings, earnings and more earnings.  The Q1 numbers are coming
in full bore this week and aside from the turmoil in the Mid East
these reports will take center stage.  Economic reports that 
Wall Street will be watching are largely scheduled for Tuesday.


==============================================================
                       -For-           
Monday, 04/15/02
----------------
Buisness Inventories(BB) Feb  Forecast:   0.0%  Previous:    0.2%


Tuesday, 04/16/02
-----------------
CPI (BB)                 Mar  Forecast:   0.4%  Previous:    0.2%
Core CPI (BB)            Mar  Forecast:   0.2%  Previous:    0.3%
Housing Starts (BB)      Mar  Forecast: 1.700M  Previous:  1.769M
Building Permits (BB)    Mar  Forecast: 1.685M  Previous:  1.774M
Industrial Production(DM)Mar  Forecast:   0.4%  Previous:    0.4%
Capacity Utilization (DM)Mar  Forecast:  75.0%  Previous:   74.8%


Wednesday, 04/17/02
-------------------
Trade Balance (BB)       Feb  Forecast:-$28.2B  Previous: -$28.5B


Thursday, 04/18/02
------------------
Initial Claims (BB)    04/13  Forecast:    N/A  Previous:     N/A
Leading Indicators (DM)  Mar  Forecast:   0.4%  Previous:    0.0%
Philadelphia Fed (DM)    Apr  Forecast:   13.4  Previous:    11.4
Treasury Budget (AB)     Mar  Forecast:    N/A  Previous: -$50.7B


Friday, 04/19/02
----------------
.. None ..


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



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

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

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

MTG     MGIC Investments Corp      73.63     +1.03
HE      Hawaiian Electric          46.16     +0.57

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

VNT     Compania Anomia Nac Tel    19.25     +4.34
FCTR    First Charter Corp         20.57     +1.04
USAP    Universal Stain & Alloy    11.75     +0.52
ANFI    American National Financial 9.75     +0.65
FRGO    Fargo Electronics          10.15     +1.45
HTRN    Healthtronics Surgical     11.30     +1.35

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

GPT     Greenpoint Financial Corp  49.66     +1.46
WTW     Weight Watchers Intl. Inc  40.60     +1.14
ICBC    Independence Community Bk  31.23     +1.57
IDXX    Idexx Laboratories Inc     28.57     +1.20
MATW    Matthews Intl. Corp        28.65     +3.19
EWBC    East West Bancorp          34.34     +1.68
UIC     United Industrial Corp     25.28     +1.55

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

RD      Royal Dutch Petroleum      51.31     -1.37
CVX     ChevronTexaco Corp         84.03     -2.42
SLB     Schlumberger Ltd           52.78     -2.06
APC     Anadarko Petroleum Corp    51.96     -2.87
APA     Apache Corp                53.73     -3.08
LOGI    Logitech Intl. ADR         42.51     -2.76

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

CBE     Cooper Industries Inc      43.74     -1.96
PLX     Plains Resources Inc       24.87     -0.42



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