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Daily Newsletter, Wednesday, 04/17/2002

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PremierInvestor.net Newsletter              Wednesday 04-17-2002
                                                  section 1 of 2
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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In section one:

Market Wrap:      Gold stocks shine, is copper next?
Watch List:       AMAT, EMLX, P, TGH, and more...
Play of the Day:  Flirting with resistance


*******************************************************************
MARKET WRAP  (view in courier font for table alignment)
*******************************************************************
      04-17-2002          High     Low     Volume Advance/Decline
DJIA    10220.78 - 80.54 10326.44 10188.26 1.37 bln   1671/1490
NASDAQ   1810.67 -  6.12  1832.01  1804.65 1.71 bln   1670/1868
S&P 100   559.73 -  1.56   563.79   558.38   Totals   3341/3358
S&P 500  1126.07 -  2.30  1133.00  1123.37             
RUS 2000  518.77 -  4.18   523.79   518.77
DJ TRANS 2848.31 - 33.09  2882.72  2848.31
VIX        20.21 -  0.09    20.79    20.05 
VXN        39.29 -  0.14    40.14    38.53
TRIN        0.81 
Put/Call    0.54
*******************************************************************

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

Gold stocks shine, is copper next?

Stocks traded sideways and look to be digesting yesterday's gains 
as the major market averages edged lower.  The Dow Industrials 
were not able to hold onto earlier morning gains and finished 
down 80 points at 10,220, closing just back below a still 
trending higher 50-day moving average at 10,231, but still well 
above a trending lower 200-day moving average currently at 9,947.

The broader S&P 500 Index (SPX.X) fell 2 points to 1,126 and 
edged back below its 50-day moving average, with the 200-day 
moving average serving as resistance earlier in the session at 
1,134.

Troubled sectors that weighed on the markets today was software 
stocks as depicted by the GSTI Software Index (GSO.X) 144.27 -
3.81% along with pharmaceutical stocks (DRG.X) 362 -1.6%, Retail 
(RLX.X) 956 -1% and Transports (TRAN) 2,848 -1%.

Early this morning, May Crude Oil futures (cl02k) rose in the 
wake of larger than expected declines in inventory levels.  There 
were also reports that OPEC has not yet made up the shortfall in 
oil output related to the Iraq embargo.  By session's end, the 
May Crude Oil contract finished up 4.8% at $25.95/bbl.  The 
higher oil prices in the futures market had the fuel price 
sensitive transports under pressure.

The technology heavy NASDAQ Composite (COMPX) held gains for the 
bulk of the trading session, but soon fell back below the break-
even level to finish down 10 points at 1,810.  While early 
morning gains had the NASDAQ Composite briefly trading back above 
a trending lower 50-day moving average at 1,817, bulls couldn't 
muster enough strength into the close and with recent jitters 
ahead of many technology stock earning's report, it was a slow 
drift lower late in the day.

 Today's bright spot came from the Gold/Silver Index (XAU.X), 
which jumped 5% to $72.32 as April Gold futures (gc02j) traded 
back above the $300/oz. level to close at $302.10.  

Gold sector bellwether Newmont Mining (NYSE:NEM) $29.07 +3.12% 
helped lead gold stocks in their advance and finished the session 
at a new 52-week closing high of $29.07.  Helping spur today's 
bullishness in gold stocks was some comments from Fed Chairman 
Alan Greenspan's testimony when he acknowledged that interest 
rates must eventually rise, but followed to say that due to low 
inflation and the lack of corporate pricing power, the Fed can 
wait until "sustained, solid economic expansion is in view."  Mr. 
Greenspan then went on to say that the strength of the expansion 
"remains to be clarified."  These two statements taken together 
had traders believing the Fed is not yet ready to raise rates and 
that thought may have had "gold bugs" bidding some gold stocks 
higher with the thinking that the longer the Fed leaves rates 
low, the greater the potential for a more robust growth picture 
down the road and a higher rate of potential inflation.

International Business Machines meets lowered guidance

After warning on Q1 earnings back on April 8th and seeing its 
shares fall from $97.25 to $87.41 (-10%) that day, computer giant 
and Dow component International Business Machines (NYSE:IBM) 
$84.81 -1.6% reported Q1 net income $1.19 billion, or 68 cents a 
share, which met lowered guidance given on April 8th.  The 
company said net income fell 32% from year-ago levels of $1.75 
billion.  The company said revenues for Q1 came in at $18.6 
billion, down 12% from the year-ago quarter.  Trading was halted 
during the release of earnings, and once resumed for after-hours 
trading, the stock gained roughly 2% to $86.50.

IBM Chart - Daily Interval

 

It's almost unthinkable to some that the Dow Industrials (INDU) 
have been able to hold relatively strong considering the recent 
shellacking that IBM has undergone.  When the stock was trading 
near the $122 level, we actually warned bulls that the stock had 
traded its bullish vertical count from the point and figure 
chart.  That didn't stop some from bidding the stock higher still 
to the $125 level as IBM seemed to be bucking the trend in 
technology weakness.  We've noted before that the "big guns" are 
often times the last to fall.  If IBM can begin building a base 
in the $80-$90 range over the next couple of months, that could 
be a good sign for technology bulls down the road.

Are copper stocks about to surge?

Gold stocks were shining today, but another "metal" also showed 
some luster today.  Last week we added shares of copper producer 
Phelps Dodge (NYSE:PD) $40.84 +2.3% to our bullish play list and 
I like what I was from some stocks in this sector today.  June 
Copper futures (hg02m) jumped higher at the opening of trading to 
$0.7295/lb which brought this contract back above its longer-term 
200-day moving average.  By session's end, this copper contract 
closed up 1.3% at $0.7395/lb and had two copper stocks I've had 
my eye on trading strong today.

One stock that really looks to be a leader and a good one to 
monitor when correlating a trade is shares of Freeport McMoran 
(NSYE:FCX) $18.43 +4.59%, which surged to a new 52-week closing 
high.

Freeport McMoran Chart - Daily Interval

 

Today's action in FCS looks as if bulls are trying to front run 
tomorrow morning's earnings report.  Consensus estimates are 
looking for a loss of -10 cents a share, compared to year ago 
earnings of +26 cents a share in the year-ago quarter.  While the 
12/31/99 highs of $21.43 may have some thinking the stock is 
reaching a longer-term peak, shares of FCX traded as high as $35 
back in May of 1996.  

Phelps Dodge Chart - Daily Interval

 

Phelps Dodge (PD) was able to close above our 61.8% retracement 
level and looks strong.  MACD on the daily interval chart is 
starting to round out just above the zero level and this has been 
a good MACD setup in recent weeks to be looking for some "strong 
stocks" on pullbacks.  A strong earnings report from Freeport 
McMoran (FCX) could bring more bulls to some copper/mining 
stocks.  Near-term, I want to see a pick up in volume and get a 
good 2 million-share day near-term.  If the stock simply drifts 
higher near the $45 level without any type of pick up in volume, 
I'd then look to sell strength.  Until then, we'll want to 
monitor future action in FCX and perhaps get some further insight 
into the future.

April bullish play review

Last night we reviewed our bearish play list and made some 
comments regarding those trades.  As mentioned in previous weeks, 
its been a rather tough market for the month of April for bulls 
to make money.  For the most part, we've stuck with our intraday 
commentary and tried to "avoid" technology stocks and that's 
rather evident when reviewing our bullish play list.  Only 
recently added Amozon.com (NASDAQ:AMZN) $14.82 +5.78% shows four-
letters in its stock symbol.  I'm wondering if some of our "Net 
bulls" traders fell out of their trading chairs when they say 
good old Amazon.com back on the play list.  Hey!  AMZN treated 
bulls favorably the last time we profiled the stock as bullish 
(02/26/02 to 03/05/02 from $14.40 to $15.84 +10%).  If a stock 
treats us right, we're always to trading the stock again.  
Considering we got a decent looking trade set up from similar 
levels found in March, the trade made sense.

Bullish plays dropped and those still profiled

 

In April, we've been using some tight stops on our bearish plays.  
A couple have been "too tight" and we had to drop the plays.  
I've marked both Cardinal Health (NYSE:CAH) $69.45 -0.71% and 
Kohl's (NYSE:KSS) $73.99 -1.47% as the two stocks I think we had 
stops set too tight on.  However, under the market conditions at 
the time, part of our trading strategy was to try and preserve 
capital as economic data was mixed and things looked very tense 
in the Middle East and the MARKET was very jittery.

Our biggest profiled loss from the bullish play list has been in 
H&R Block (NYSE:HRB) $40.39 -3.71%.  This stock simply ran out of 
steam into the tax season and we didn't get the April run we 
thought we were going to get.  The technicals were there as the 
stock looked ready to bounce from retracement support, but the 
technicals didn't hold and now the stock trades lower still.

Some trades like Dole Food (NYSE:DOL) $30.57 -0.84% were given 
more than enough time in my opinion to prove themselves.  While 
today's stopping out at $30.83 didn't help our batting average of 
W/L (win/loss) we didn't feel it was worth the potential risk of 
some type of negative forward earnings guidance to have 
subscribers holding that risk.  The stock still looks technically 
strong, but a month-and-a-half was plenty of time for that "can 
of pineapple to have produced some fruit."

The "biggest gains" found so far this month came from a short-
term trade in Hanover Compressor (NYSE:HC) $19.61 -0.55%.  We 
decided it best to take a quick gain off the table, but almost 
immediately profiled the stock in the "Longer Term Plays" section 
of the play list.  Our other nice gain was found just recently in 
shares of Oxford Health (NYSE:OHP) $44.65 +3.23%.  For the past 
week or so we had been challenging the stock with a tight stop.  
While I don't mind a nice 9% gain for our play list, today's 
surge in the HMO Index (HMO.X) hints at just how hungry the 
MARKET is for some of these HMO stocks.

For the month of April, our closed plays would have had a bull 
investing an equal $5,000 in each trade down about $-474.58 so 
far this month.  While our goal is to show subscribers gains with 
our play picking ability, I don't think we're doing too bad 
relative to the S&P 500 (SPX.X) which has declined -1.8% from its 
March 28th close, while the NASDAQ Composite (COMPX) has declined 
roughly -1.9% since that same date.  A trader having put $5,000 
into each of our 10 dropped plays would have hypothetically lost 
about $-475.00 or roughly -0.95% (10 trades at $5,000 = $50,000 
capital exposed, then $475 loss divided by $50,000=0.95%).

Well, the month is only half over and there's a lot of work to be 
done.  Hopefully between last night's review of the bearish 
profiled plays for April and tonight review of the bullish plays, 
you have some confidence in what we're doing.

You and I can't control or dictate market volatility.  Hopefully 
you can see how the NASDAQ's -1.9% decline so far this month 
doesn't really seem like a lot, nor does the S&P 500's decline of 
1.8% (broader market averages).

Looking ahead

As I try and scour the market for some actionable entry points 
for trades, right now I'm having a hard time finding any.  This 
usually happens when things get rather range-bound.  I've looked 
at several stocks in various sectors and I can see a bullish 
advance taking place with shorts covering, just as easy as I can 
see bulls heading for the exits on any type of weakness.

Even after doing further analysis in some potential trades, many 
of them really don't look to have the upside or downside 
potential for good risk/reward entry points.

I truly feel that its not always in the best interests of 
subscribers to simply put some plays on our play list if the play 
writers or I don't have some type of conviction behind the trade.

I don't like to say that I have a "favorite" trade, but I do like 
the action that took place in Phelps Dodge (NYSE:PD) today, 
combined with what we discussed in Freeport McMoran (NYSE:FCX).

I also like last night's profile in shares of Amazon.com 
(NASDAQ:AMZN).  I think there's just enough "crazy" bears in that 
one that simply shorted it because it was Amazon.com.  Yesterday 
during market hours I actually looked at Amazon.com (AMZN) as a 
stock that was looking bullish intra day.  When one of our play 
writer's mentioned the stock last night, I thought that was a 
good coincidence.

If a trader can book some 7-10% gains in bullish or bearish 
trades, then I really do think your "beating the market."  Yes, 
there will be some that you sell too soon, but that's better than 
seeing some 7-10% gains get erased during earnings season when an 
upside/downside earnings surprise or forward guidance from a 
"like stock" in the sector your trading puts a fly in the 
ointment.

Stay disciplined!  Be true to your stops!  And take profits when 
you've got them!


Jeff Bailey
Senior Market Technician


==================================================================
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: 27.30 change: +0.22

WHAT TO WATCH: Chip stocks have put in a strong showing this 
week.  The SOX.X semiconductor rose sharply on Tuesday after 
positive earnings from NVLS and TXN, and continued higher today 
after INTC announced in-line earnings on Tuesday.  Chip equipment 
stocks have been among the strongest performers in the sector, 
and we think AMAT, KLAC, and NVLS should lead the way if the 
SOX.X continues higher.  AMAT, currently on a (post-split) 
triple-top p-n-f buy signal, is looking especially strong.  
Shares gapped higher on Tuesday and are now threatening to break 
over resistance at $28.  The MACD and daily stochastics are 
looking bullish as well.  Although traders may want to consider 
buying a breakout above $28, we're looking for a pullback to 
offer a more favorable entry.  If the stock pulls back and fills 
in Tuesday's gap, we may add it to the Play List.




---

Emulex Corp. - EMLX - close: 28.90 change: +0.04

WHAT TO WATCH: We like EMLX as a potential short because it 
offers a favorable risk/reward setup.  The stock is currently 
trading at the top of its descending channel and faces additional 
overhead resistance in the form of its 200-dma.  Entries could be 
evaluated at current levels with a fairly tight stop just above 
the $30 level.  EMLX offers near-term downside potential to last 
week's lows of $25.26.  A move to the bottom of the channel would 
take shares all the way down to $20, but we'd likely need to see 
some significant NASDAQ weakness or negative company-specific or 
sector specific news for that to occur.  Thursday evening's 
earnings announcement might provide such a catalyst for a 
breakdown.  We wouldn't recommend taking positions ahead of 
earnings.  Rather, we'd wait to see how Wall Street reacts on 
Friday and then consider going short if EMLX falls from the top 
of its channel.




--- 

Phillips Petroleum - P - close: 60.39 change: +0.34

WHAT TO WATCH: Oil stocks have been unusually volatile lately.  
The price of oil (cl02k) moved higher on Monday following the 
failed Venezuelan coup.  The trend continued today, as buyers 
pushed the commodity back above $25/barrel.  The recent events 
are reflected in the OIX.X oil index, rebounded after dipping 
sharply lower.  A move over resistance at 325 for the index would 
bode well for oil bulls.  We think P stands out as a good way to 
play a move higher in the group.  The stock bounced near the 
bottom of its ascending channel (bolstered by bullish p-n-f 
support) on Friday, and has since moved back above the $60 level.  
Oscillators confirm the reversal, with daily stochastics moving 
higher and MACD curling near the baseline.  Traders willing to 
brave the potential volatility in the oil market could consider 
entries at current levels.  We'd initially be targeting the top 
of the channel at $64.  




---

Trigon Healthcare - TGH - close: 76.77 change: +1.79

WHAT TO WATCH: We continue to be amazed at the strength of 
healthcare stocks.  Shorts were running scared today after the 
HMO.X health provider index broke above its ascending channel.  
TGH moved higher with the sector and tacked on 2.38% en route to 
its highest close since early February.  With the MACD uptrending 
and daily stochastics in the early stages of a reversal (albeit at
an overbought level already), traders could consider entries 
at current levels.  The stock may encounter resistance near $78, 
but the bears may yield in the face of continued sector strength.  
With the HMO.X now out of its channel, it's difficult to say 
where the index is headed next.  A "rolled-up" retracement shows 
possible resistance near 567.  A consolidation of some of today's 
gains certainly wouldn't be surprising, but we'd be a bit 
concerned if the HMO.X moves back under 540.






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

Alliant Tech Sys - ATK - close: 101.99 change: -2.87

This defense contractor broke over the $100 resistance level in 
late March.  Shares have stayed in the triple-digits ever since, 
but seemed a bit overbought at $105.  Now that shares have 
dipped, look for a successful retest of $100 to offer a possible 
entry.  A move over 201 in the DFX.X would help to confirm 
bullish sector sentiment.

--- 

Autodesk Inc. - ADSK - close: 38.20 change: -2.95

ADSK looks like an attractive short play.  Shares appeared to 
have broken down through the bottom of its ascending channel last 
week.  Then shares bounced off its 200-dma back to the edge of 
the channel and rolled over again.  Today the stock gave up over 
7% on high volume today and closed below its 200-dma.  Watch for 
a break below support at $38.  Our initial target would be $35, 
but we would not be surprised to see it trade to $32.50.  Check 
out the PnF chart.

---

DuPont - DD - close: 47.98 change: -0.12

Longer-term traders might want to take a look at DD.  The weekly 
chart shows a clearly defined reverse head-and-shoulders, with 
the January lows forming the right shoulder.  The p-n-f chart 
gives a bullish target of $68, but shares will first have to 
conquer resistance at $50.

--- 

Forward Air Corp - FWRD - close: 28.52 change: -1.57

This stock has been looking weak in recent sessions, despite an 
bullish transports sector.  A move below the 200-dma at $28.37 
could lead to a retest of February lows.

---

Northwest Airlines - NWAC - close: 20.05 change: +0.47

NWAC has been making headway in recent sessions and looks to be 
gathering momentum.  The XAL.X airline index traded flat today, 
but NWAC added 2.4% and closed over resistance at $20.  Investors 
may have been taking positions ahead of tomorrow's earnings.  A 
positive reaction could send shares above the March highs near 
$21.
 
--- 

United Tech - UTX - close: 69.80 change: -3.28

Ouch!  Wall Street didn't take kindly to today's earnings 
announcement.  UTX lost 4.48% and triggered a double-bottom p-n-f 
sell signal.  We'd look for a move down to the 200-dma near $65.  
If this fails, look for a test of $60.



===============
Play-of-the-Day  
===============

Hartford Financial Svc - HIG cls: 69.83 chg: +1.18 stop: 66.49

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)


- ORIGINAL WRITE UP: March 13th, 2002 -

Why We Like It:
Financial stocks may not have been the hottest sector this week 
but we feel the recent weakness may have given us a very 
attractive entry point on some short-term long plays. HIG, a 
massive insurance company, has been in a strong upward trend from 
last November. In the last couple of months the stock has traded 
through its pre-9/11 lows and re-conquered its 200-dma. Now that 
the group has seen some selling in the last several sessions the 
stock is resting near the bottom edge of its ascending channel. 
HIG's relative strength today in the face of a triple digit loss 
in the Dow Jones is encouraging. The recent pull back in HIG 
corresponds with the trend we see on the point-and-figure chart 
where shares will retrace three or four rows (O's) before bulls 
push it higher again. Currently the bullish price objective for 
HIG is near $82. We're only aiming for a quick short-term move to 
$70. If our short-term objective is achieved we'll re-evaluate. 
Traders should note that the last two sessions have seen buyers 
support the stock at its 50-dma near $64.50. We're going to 
initiate a stop just under this level at $64.45, which should 
limit our exposure to only 1.9- Some traders may want to wait and 
see HIG trade back over $66 before committing any capital.

- Most Recent Update: April 16th, 2002 -

A pullback in the insurance group had HIG moving lower yesterday. 
Shares briefly dipped below the 50-dma, and came within 30 cents 
of our stop before moving higher in afternoon trading. The bounce 
continued into today's session, as HIG added 1.65 percent. The 
successful test of the 50-dma bodes well for this play. Previous 
bounces from this level have portended a string a positive days. 
Traders looking to go long could consider taking positions at 
current levels, but be aware that the bears may continue to 
defend resistance at $70 and it may be more prudent to wait for a 
close over $70. Premier Investor is currently up 4.4 percent on 
this play. Earnings are coming up next Monday.


- Play-of-the-Day Comments: April 17th, 2002 -

Traders who bought Monday's pullback to the 50-dma have been 
rewarded with a move back to resistance at $70.  HIG was unable 
to trade over $70 last week, but with daily stochastics now 
moving higher from mid-channel, we think this attempt may be 
successful.  Entries can be targeted on a move over $70, although 
those of you who are more cautious may want to wait for a close 
above that level.

Picked on March 13th at $65.74
Gain since picked:       +4.09
Earnings Date         04/22/02 (confirmed)
 





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

Please read our disclaimer at:
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Copyright  2001  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.




PremierInvestor.net Newsletter                Wednesday 04-17-2002
                                                   section 2 of 2
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================
To view this email newsletter in HTML format with imbedded
charts and graphs, click here:
http://www.PremierInvestor.net/htmlemail/d17b_2.asp
=================================================================

In section two:

NetBulls Tech Stocks
  Closed Bearish Play:    MU
  
Active Trader Non-Tech Stocks
  Triggered Bearish Play: IGT

High-Risk/High-Reward Stocks
  Triggered Bullish Play: AMZN
  Stop adjustment:        LUV (long)
 
Long-Term Plays
  Closed Bullish Play:    PETM

Split Trader Stock Splits
  Split Announcement:     CUB:  3-for-1 split announcement
                          OCFC: 3-for-2 split announcement
                          WSM:  2-for-1 split annooucement

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


==================================================================
Net Bulls - Tech Stocks (NB) section
==================================================================

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

  --------------
  Closed Bearish
  --------------

Micron Technology - MU - close: 30.24 change: +0.13 stop: 30.36

A bullish reaction to Tuesday's INTC earnings had the chip sector 
trading higher this morning even after Tuesday's rally.  The 
world's largest semiconductor company reported inline earnings 
and updated guidance for next quarter, which helped the SOX.X to 
a three day rally.  We tightened our stop on MU last night after 
the stock closed above $30.  Shares traded above the stop at 
$30.36 this morning, thus closing out our play for a 51-cent 
loss.  With oscillators turning bullish and the SOX.X threatening 
to break over resistance near 615, we'd look elsewhere for 
bearish tech trades.

Picked on April 5th at $29.85 
Gain since picked:      -0.51
Earnings Date        03/21/02 (confirmed)






=================================================================
Active Trader/Non-tech Stocks (AT) section
=================================================================

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

  Triggered Short Play
  --------------------

Intl Game Tech - IGT - close: 55.65 change: -0.20 stop: 58.51

Blowout earnings from HET and MGG had casino stocks rocketing 
higher today, but someone forgot to tell IGT.  Despite the strong 
sector news, shares sold off after the first hour of trading and 
descended below our trigger price at $55.94.  This activated our 
short play with a stop at $58.51.  Shares bounced in afternoon 
trading, but fell into the red again before the closing bell.  
Traders still looking to go short should watch for a break below 
today's low of $54.55.






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

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

  Triggered Long Play
  -------------------

Amazon.com - AMZN - close: 14.82 change: +0.86 stop: 12.80

AMZN got a boost today after Soundview raised estimates on the 
stock, based on their belief that customer and online data 
indicates Q1 will be stronger than expected.  The stock gapped 
higher on the news and quickly moved above our trigger at $14.35.  
Now that we're long on AMZN, our stop is set at $12.80.  If 
targeting new entries, look for a move over today's high of $15.
Or if you think shares might pull back, look for a dip to $14.50 
or $14.00 if the Nasdaq pulls back.





  Long Stop Adjustments
  ---------------------

Software Airlines - LUV - cls: 19.00 chg: +0.07 stop: 18.29 *new*

With earnings from LUV due before the bell tomorrow, we're 
updating our stop to minimize the risk of getting caught in a 
sell-off.  We'll close this play if the stock trades at or below 
$18.29, just under Friday's low.  






=================================================================
Long-term Stocks (LT) section
=================================================================

===============
LT Closed Plays
===============

  --------------
  Closed Bullish
  --------------

PETM - close: 14.80 change: +0.20 stop: N/A

It's finally time to bid PETM adieu.  The stock continues to 
uptrend in a steady fashion but is quickly approaching potential 
psychological resistance at $15.  To avoid looking a very large 
gift horse in the mouth, we set a profit target at $14.90 on 
April 5th, 2002.  That just happened to be today's intraday high, 
so PETM is closed for a $4.58 move from where we entered it.  
This represents a gain of 44 percent.  Traders still looking for 
stocks with solid fundamentals may want to take a look at the 
other plays in our Long-term section.  We have to admit we were 
hesitant to close the play because PETM has been so strong and 
resistance to market weakness.  Shares are climbing very steadily 
and more aggressive traders could continue to let it run with a 
stop under the 20-dma.  However, we would not recommend new 
positions because the stock does look very overbought and the 
oscillators are pegged at extended levels.

Picked on January 25th at $10.32
Gain since picked:         +4.58
Earnings Date            June/02 (not confirmed)






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

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

Update & Payable Date for CUB 3:1 Split

First announced back in February, Cubic Corp (AMEX:CUB) finally 
got approval for its 3-for-1 stock split by its shareholders at 
today's meeting.  The record date, as expected, is April 17th, 
2002.  The payable date should be April 29th, which shares 
expected to be distributed on April 30th, 2002.

According to the company's press release, this is the fifth stock 
split in Cubic's 51-year history.  After the split, CUB will have 
about 26.7 million shares outstanding.

The stock closed at $74.37 on Tuesday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=CUB


About the company
The Cubic Transportation Systems Group designs and manufactures 
automatic fare collection systems for public mass transit, 
including rail and buses throughout the world. The Cubic Defense 
Applications Group provides instrumented air and ground combat 
training systems, battle command training simulations, and 
simulation support for U.S. and allied military forces. The group 
also produces high technology avionics, data links and 
communications products for government and commercial customers 
and provides a wide range of technical and logistics services. 
(source: company press release)

---

Shelling Out 3-for-2 Split at OCFC

After the bell today, OceanFirst Financial Corp (NASDAQ:OCFC) 
announced that its Board of Directors had approved a 3-for-2 stock 
split in the form of a 50% stock dividend.

The shareholder record date will be May 3rd, 2002 with the payable 
date being May 17th, 2002.  Thus, we expect shares to begin trading at 
their new price on Monday, May 20th.  

Cash will be paid to shareholders who receive fractional shares as a 
result of the split.  Shares have been riding a tidal wave from their 
mid-January lows near $24.00.

The stock closed at $31.71 on Wednesday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=OCFC


About the company
OceanFirst Financial Corp.'s subsidiary, OceanFirst Bank, founded 
in 1902, is a federally-chartered stock savings bank with $1.7 
billion in assets and sixteen branches located in Ocean, Monmouth 
and Middlesex Counties, New Jersey. The Bank is the largest and 
oldest community-based financial institution headquartered in 
Ocean County, New Jersey. (source: company press release)

---

Good News from WSM & a 2-for-1 Split

Before the bell this morning, Williams-Sonoma, Inc. (NYSE:WSM)
announced that its Board of Directors had approved a 2-for-1 stock
split of its common stock.  The shareholder record date for the
split will be April 29th, 2002 and the split is expected to be
effective on Thursday, May 9th, 2002.

This news came soon after the company raised their guidance on Q1,
Q2 and the rest of 2002 (all this morning).  Management said that
results were being driven by stronger sales, better than expected
gross margins, and the continued success of cost management
initiatives throughout the Company (source: co. press release).

Shares of WSM have been very strong for investors and have more
than doubled from their September 2001 lows near $22.00.  The
stock is also approaching its old highs near $60 from the Q4 of
1999.  This is the second 2:1 split since 1998.

The stock closed at $46.75 on Tuesday.  For a current quote,
click here:
http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=WSM


About the company
Williams-Sonoma, Inc. is a nationwide specialty retailer of high
quality products for the home. These products, representing six
distinct merchandise strategies, Williams-Sonoma, Pottery Barn,
Pottery Barn Kids, Pottery Barn Bed + Bath, Hold Everything, and
Chambers, are marketed through 423 stores, six mail order catalogs
and four e-commerce web sites. (source: company press release)


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

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


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

RD      Royal Dutch                54.46     +0.60
HI      Household Intl. Inc        60.70     +1.18
CI      Cigna Corp                108.45     +0.96
PEG     Public Service Entrpr Grp  45.77     +0.85
NBR     Nabors Industries Inc      43.21     +1.41
BSC     Bear Stearns Companies     66.41     +0.99

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

MOT     Motorola Inc               16.33     +1.33
WEBX    Webex Communications       18.08     +2.23
CTLM    Centillium Communications  14.11     +1.18
WG      Willbros Group Inc         18.61     +1.31
TENT    Total Entrtnmnt Restaurant 11.78     +1.88
MRGE    Merge Technologies          9.08     +1.18

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

JPM     JP Morgan Chase & Co       37.27     +1.89
ALL     Allstate Corp              41.06     +2.01
UNH     United Health              79.57     +2.72
CNI     Canadian Natl Railway      50.37     +1.47
MGG     MGM Mirage Inc             38.27     +2.40
ATH     Anthem Inc                 64.65     +2.44
HET     Harrah's Entertainment     50.43     +3.49

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

PFE     Pfizer Inc                 37.85     -2.05
HRB     H&R Block                  40.39     -1.56
CBT     Cabot Corp                 31.38     -1.42
SCHL    Scholastic Corp            47.65     -4.14

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

UTX     United Technologies Corp   69.80     -3.28
BA      Boeing Co                  45.37     -3.33
SLM     USA Education Inc          93.65     -3.55
ODP     Office Depot               20.05     -1.69
MYG     Maytag Corp                44.85     -1.10
CUM     Cummins Inc                47.56     -2.27
CPG     Chelsea Property Group     56.31     -1.93
MDP     Meredith Corp              44.09     -0.37



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