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Daily Newsletter, Monday, 05/13/2002

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PremierInvestor.net Newsletter                 Monday 05-13-2002
                                                  section 1 of 2
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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

Market Wrap:      NASDAQ Bounces Back With AMAT at the Doorstep
Watch List:       AHC, IBM, SSCC, WLP, ACTL, MAN, TDS, and lots more!
Play of the Day:  The Road to Profits

******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
       05-13-2002          High     Low     Volume Advance/Decline
DJIA    10109.66 +169.74 10110.97  9920.20  1.10 bln   2002/1204
NASDAQ   1652.54 + 51.69  1653.10  1602.60  1.64 bln   2110/1408
S&P 100   533.76 + 10.52   533.76   522.31   Totals    4112/2612
S&P 500  1074.56 + 19.57  1074.84  1053.90
RUS 2000  499.72 +  6.99   499.85   492.42
DJ TRANS 2703.51 + 60.41  2712.95  2641.64
VIX        23.50 -  1.53   25.92     23.26
VXN        45.12 -  4.61    49.30    46.12
TRIN        0.62
PUT/CALL    0.85
******************************************************************

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

NASDAQ bounces back with AMAT at the doorstep

After two days of disappointing losses following surprising rally 
last Wednesday, technology stock rebounded today as traders tune 
in on tomorrow's earnings report from Applied Materials 
(NASDAQ:AMAT) $25.58 +7.93%, which helped lead the Semiconductor 
Index (SOX.X) 509 +5.86% to the top of today's sector gainers.  
Trader's noted some nervousness from bears ahead of Applied 
Material's earnings, citing last Tuesday's evening bullish 
response to Cisco Systems' (NASDAQ:CSCO) $15.70 +1.81% earnings 
report that sparked a brief, yet powerful, NASDAQ rally.

The tech-heavy NASDAQ Composite gained 51.59 point (+3.2%) to 
1,652 in today's trading, while the larger cap NASDAQ-100 Index 
(NDX.X) jumped more than 4% with a 52.76 point gain to 1,241.54.  
Breadth on the broader NASDAQ Composite was positive with gainer 
outnumbering loser by a 3 to 2 margin, but volume was light at 
1.63 billion shares.

The widely watched Dow Industrials (INDU) 10,109.66 +1.7% 
finished at a session high and now sits just 32-points shy of 
Wednesday's close.  Traders and investors alike will be 
monitoring the 10,150 level near-term as a trade at that level 
could trigger further bullishness with a triple-top buy signal 
coming just above the bearish resistance trend.

Dow Industrials Chart - 50-point box




The Dow Industrials (INDU) battled back near Wednesday's closing 
highs and there's a good battle taking place between bulls and 
bears here.  The bulls have defended the 9,800 level in recent 
weeks and bears might be in some trouble with a trade at 10,150.  
A trade at that 10,150 level would mark a break of downward trend 
on the point and figure chart and get the vertical count back on 
the bullish side to 10,600.  Such technical action could lift the 
spirits of the bulls near-term.

Twenty-six of the thirty Dow components finished in positive 
territory today leady by gains in Intel (NASDAQ:INTC) $28.52 
+5.59%, Microsoft (NASDAQ:MSFT) $52.69 +5.27% and SBC 
Communications (NYSE:SBC) $32.05 +5.25%.  Shares of Eastman Kodak 
NYSE:EK) $33.57 -2.12% halved earlier-session losses after UBS 
Warburg downgraded the stock to "hold" from "buy", while 
Caterpillar (NYSE:CAT) $52.75 -0.11%, AT&T (NYSE:T) $13.70 -0.07% 
and Johnson & Johnson (NYSE:JNJ) $61.84 -0.01% finished with 
fractional losses.

Most important perhaps to the Dow Industrials near-term is 
Wednesday's meeting between International Business Machines 
(NYSE:IBM) $82.19 +3.15% and industry analysts.  Today, SG Cowen 
named IBM their "Action Idea of the Week" based on the belief 
that 2002-03 EPS will top consensus estimates.  SG Cowen thinks a 
pickup in services contract signings during Q4-Q1 may presage a 
resumption of double-digit revenue growth in services beginning 
in Q4, and OEM business should see earnings swing as customer's 
inventories of IBM's chips are now balanced.  Cowen added that at 
15-times 2003 estimates and a 22% discount to the S&P 500, IBM's 
shares look "conspicuously undervalued."  SG Cowen's price target 
for IBM is $112 per share.

Intl. Business Machines Chart - Daily Interval




It's tempting for a trading bull to follow SG Cowen's call on 
IBM.  IBM gapped lower in early April after warning on Q1 
earnings that were then reported on April 17th.  Some traders 
wonder if there could really be any "new" types of negative 
surprises so soon after recent earnings.  A break above the $83 
level in conjunction with the Dow Industrials (INDU) trading 
10,150 could have an IBM short assessing risk to $88 ahead of 
Wednesday's analyst meeting. 

S&P says "goodbye" to WorldCom and U.S. Airways

Just when bulls in telecom services giant WorldCom (NASDAQ:WCOM) 
$1.44 -8.86% and air carrier U.S. Airways Group (NYSE:U) $2.98 
-17.2% thought it couldn't get any worse, it has.  Both stocks 
traded to new 52-week lows today, just before tonight's 
announcement from Standard & Poor's that both stocks will be 
removed from the S&P 500 Index (SPX.X).

Mutual funds set up to mimic the S&P 500 Index will be replacing 
their WorldCom (WCOM) and U.S. Airways Group (U) holding with 
shares of oil service provider BJ Services (NYSE:BJS) $38.36 
+1.16% and education provider Apollo Group (NASDAQ:APOL) $36.65 
+3.61%.  S&P said the changes would take place after the close of 
trading tomorrow.

Retail sales tomorrow morning, along with some earnings

The S&P Retail Index (RLX.X) 913.25 +1.26% edged higher today as 
gains in the big 3 automakers had General Motors (NYSE:GM) $67.27 
+1.61%, Daimler Chrysler (NYSE:DCX) $47.90 +0.73% and Ford Motor 
(NYSE:F) $16.19 +2.27% also hint of some bullishness building 
ahead of tomorrow morning's retail sales numbers.

Economists are looking for April retail sales (including autos) 
to gain 0.6%, while the ex-autos number is expected to show a 
0.4% gain.

Traders will have the retail sales numbers prior to the opening 
bell and this could set an early tone ahead tomorrows trading 
session.  

Dow component Wal Mart (NYSE:WMT) $55.04 +2.57% is slated to 
report earnings before the opening of trading and analysts expect 
the company to report earnings of $0.36 a share.  Discounter TJX 
Company (NYSE:TJX) $20.69 -2.86% traded lower ahead of tomorrow 
morning's scheduled earnings.  Analysts polled by Multex are 
looking EPS of $0.26 a share.


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


Amerada Hess - AHC - close: 80.79 change: +2.36

WHAT TO WATCH:
Amerada Hess is a major diversified oil company.  The challenge 
to companies like AHC and Occidental Petroleum (OXY) is to 
generate attractive profits regardless of the price of crude oil. 
Although crude oil remains strong--and AHC will sometimes mirror 
the movement in this commodity--our technical charts are 
suggesting that the XOI.X (Oil Index) and its component stocks, 
like AHC, are poised for new upward moves of their own.  AHC 
broke out of a six week consolidation during the last two trading 
sessions--springing off its 50-dma--and doing so on improving 
volume.  AHC is indicating to us that it wants to advance higher 
in coming trading sessions.  Aggressive traders could use the 
close over the $80 level as a potential trigger to go long.  We'd 
initially target the $85 level but expect potential resistance at 
the recent highs near $82.  Check out the MACD.  The bullish 
crossover near the baseline looks very encouraging for longs.




---

International Business Machines - IBM - cls: 82.19 chg: +2.51

WHAT TO WATCH:
Since hitting a major low of $75.92 on May 7th, IBM has been 
holding tightly to its subsequent rebound.  The company is 
scheduled to brief analysts on Wednesday about its current and 
future business conditions; you don't need to have a Ph. D. to 
realize that trading in IBM is likely to be quite volatile ahead 
of that meeting.  We have added IBM to our Watch List because we 
do think it is probable the stock will move sharply, one way or 
the other, this week.  Our thoughts on the stock are these: 

1) A decline below $79.60 is likely to push IBM back toward its 
May 7th lows.

2) A break above $83.00 brings with it the chance for the stock 
to begin a more serious recovery from its recent whipping.  

Other key events that might affect IBM will be AMAT's earnings on 
Tuesday and DELL's earnings on Thursday.




---

Smurfit-Stone Container Corp. - SSCC - cls: 17.12 chg: +0.24

WHAT TO WATCH: 
Smurfit Stone Container is affiliated with Ireland's Jefferson 
Smurfit Group, the world's largest maker of containerboard and 
corrugated containers, and a global leader in wastepaper 
recycling.  The Forest and Paper Products Index (FPP.X) has been 
consolidating after reaching a 52 week high in early March 2001.  
This consolidation appears to be nearing an end, and we would 
look for stocks in this sector, like SSCC, to begin new upward 
moves.  SSCC has a resistance region in between $17.24-$17.57; 
once it has moved above this region, we would look for it to be 
potentially attractive on as a long position.




---

Wellpoint Health Network. - WLP - close: 71.97 change: -0.90

WHAT TO WATCH: 
We profiled Wellpoint Health Network several days ago, but feel 
that it deserves another look as a potential short position.  WLP 
is part of the recently much-loved healthcare provider complex; 
one of the best indexes covering this sector is the HMO.X (Morgan 
Stanley HealthCare Index).  This index has been very strong in 
recent months, and component companies have been applauded by 
Wall Street for their strong earnings. Fundamentally, then, the 
sector remains a healthy one.  However, we feel that the sector 
is potentially vulnerable to profit-taking for two principle 
reasons: 1) the overbought nature of the index, which is now 
accompanied by declining momentum patterns, and 2) a potential 
shift of investment dollars--out of these stocks and into Nasdaq 
tech stocks--should a rally in the Nasdaq market gain legs in 
coming days and weeks.  WLP rose from the high $50's to the high 
$70's from early March through early May, 2002.  It is our view 
that the stock may have now topped for the time being.  Its 
recent price action has created short-term resistance in the 
$72.50-$73.80 region.  An advance into this region is likely to 
cause the stock to stall, with another round of weakness possibly 
beginning, and our view would be that WLP might be a good short 
candidate at that time.  More cautious shorts could wait for a 
close under the $70 level, which might act as psychological 
support.  Alternatively, if WLP regains the $75 level, the stock 
and the sector could be building on a second leg higher and as 
traders who are willing to trade both directions we'd consider it 
a potential long.




---

Actel Corporation - ACTL - close: 24.37 change: +0.97

WHAT TO WATCH:
On Tuesday, May 14th, Applied Materials--a major component of the 
Semiconductor Index (SOX.X)--reports its quarterly earnings after 
the close of the market. Actel is one semiconductor stock, which 
has managed to survive fairly well in recent months.  The stock 
put in a short-term bottom on February 21st, and has been 
gradually working higher ever since.  More recently, ACTL has 
been in a sideways consolidation; a move above $24.85 to $25.00 
will push ACTL out of its consolidation and should allow it to 
begin a new upward move.  We will naturally be watching AMAT's 
earnings, which will almost certainly set the tone for the near-
term direction of ACTL.   




---

Manpower, Inc. - MAN - close: 41.23 change: +2.37

WHAT TO WATCH:
An improving economy needs workers, and that's what Manpower 
does: it provides full time and temporary manpower on a global 
basis, through 3900 offices.  We like the general technical 
pattern which continues to form on the Dow Jones Industrial 
Average, and believe that MAN can benefit from a breakout in the 
Dow.  MAN rose sharply on Monday, helped not only by a strong Dow 
but also weekend reports that a steady improvement in employment 
continues to be see.  Today's advance might see some near term 
profit taking; a move above the recent high of $41.55 should push 
MAN out of the two-month consolidation in which it has been 
trading; we like it as a potential long play.




---

Telephone & Data Systems - TDS - close: 78.70 change: -1.30

WHAT TO WATCH
Telephone and Data Systems, Inc. (TDS) is a diversified 
telecommunications company.  Like this entire sector, the stock has 
suffered for the last 2 years.  On Friday, May 10th, Standard and 
Poor's lowered its credit rating on TDS to negative from stable, and 
Moody's Investor Service did the same.  Understandably, TDS saw the 
price of its stock hit hard, tumbling from Thursday's close of $84.50 
to a low of 77.50 during Monday's trading session.  With the RSI, 
Stochastic Oscillator and MACD all turning negative, the likelihood of 
more weakness in this stock must be considered.  The stock now has a 
zone of resistance right at the 80.00 level, and we expect any short-
term rebound to that area to be followed by more price weakness.   This 
would be a logical shorting point for aggressive traders.
 



=============
MORE TO WATCH
=============
 
Cablevision - CVC - close: 20.25 change: -2.15

CVC was hammered for a 9.6% loss today and is threatening to 
break below its descending channel.  Driving the stock lower were 
rumors of a convertible bond offering.  We have no idea whether 
these rumors are well founded, but the technical picture is 
extremely bearish.  Aggressive traders could target a move below 
today's low of $19.39, which would help to confirm a break out of 
the channel.




---

ESS Technology - ESST - close: 16.20 change: +0.80

As outlined above, tomorrow night's AMAT earnings could have a 
substantial impact on the chip group.  ESST looks like a good way 
to play the sector if AMAT has disappointing news.  Shares have 
spent the last two weeks coiling under resistance at the 200-dma 
(17.24).  This level is bolstered by bearish p-n-f resistance.  
If the sector does a nosedive, ESST looks like it could quickly 
retest its relative lows near $13.00 (and beyond).


 

---

Expedia, Inc. - EXPE - close: 76.26 change: +3.76

EXPE has just bounced off its 50-dma, which happens to coincide 
with its ascending regression channel.  Our Stochastic 
Oscillators are beginning to curl higher from the oversold region 
and the p-n-f chart just reversed into a column of X's, which 
helps confirm the positive nature of our other indicators.  Look 
for a move above today's high or a dip to the psychological $75 
level. 


 

--- 

Interstate Bakery - IBC - close: 28.45 change: +1.19

After consolidating under the $26 level for several months, IBC 
finally staged a breakout on Thursday.  The move has been 
accompanied by increased volume, which suggests more upside 
potential.  The ascending triple-top p-n-f breakout also bodes 
well for the bulls.  Today IBC added another 4.3% after CSFB and 
MER initiated coverage of the stock.  Aggressive traders can 
consider entries on a move above today's high at $28.50 or a dip 
to the $27.00 level.





===============
Play-of-the-day (BULLISH)
===============

DaimlerChrysler - DCX - close: 47.90 change: +0.35 stop: 44.66

DaimlerChrysler AG is a German-based manufacturer of automobile 
and automobile products. The company is additionally involved in
the financing of automobiles. The DaimlerChrysler corporation 
has five business segments, of which Mercedes-Benz Passenger Cars 
and the Chrysler Group are the most well known.



- ORIGINAL WRITE UP: May 3rd, 2002 -

DaimlerChrysler's stock has not done much in the last two months, 
as it has consolidated in a broad range in the mid-40's. We like 
this stock for that very reason: it has taken a breather and now 
seems ready to move higher as the overall market struggles out of 
its doldrums. Like any marathon runner, stocks need to rest 
between long runs; DCX has been using its 40-dma and 50-dma as a 
resting point in recent weeks, and its stock price is modestly 
above the 50-dma as of Friday's close. Even though a worker 
strike in Germany may affect some DCX manufacturing operations, 
the stock was able to edge higher on Friday while much of the 
market was negative. Our strategy is to either buy DCX on a 
breakout above 48.12 to new short-term highs, OR acquire it on a 
modest pullback to support in the 45.50-46.50. We will present a 
stop level once our trade has been triggered but it will likely 
show up between $43 and $44. You might find a longer-term chart, 
like a weekly interval, an interesting view for DCX at $22.

- Most Recent Update: May 10th, 2002 -

Strikes in the German metals and electronics industries continued 
Friday; they are expected to widen next week. As we have reported 
previously, these strikes may have some effect on German-based 
auto maker DaimlerChrysler. Overall, though, the technical 
pattern on this stock does not confirm any negative influence on 
DCX's stock price from the strikes, and we remain optimistic 
about this big cap long position. One of the observations we've 
recently made is that volume expands on up days and contracts on 
down downs. This suggests that buyers are willing to acquire the 
stock on strength, while a decline in DCX's price produces only 
modest selling. This, obviously, is good for our bullish bias.

- Play-of-the-Day Comments: May 13th, 2002 -

With GM breaking to multi-month highs today, we're looking for 
DCX to stage a breakout of its own.  The key action point is the 
$48 level, which has recently thwarted intraday rallies in DCX.  
Shares have traded in a pattern of higher lows, which often 
portends a powerful upside move.  Traders looking to go long can 
target a close over $48.02 or an intraday move over the near-term 
high at $48.35.

Picked on May 6th at $46.50 
Gain since picked:    +1.40
Earnings Date      02/20/02 (confirmed)
 





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




PremierInvestor.net Newsletter                  Monday 05-13-2002
                                                   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/e13b_2.asp
=================================================================

In section two:

Net Bulls
  Triggered Play:          BRCM (bearish)
  Closed Bearish Play:     BMC

Active Trader
  Triggered Plays:         DHR, TSG (bearish)
  Stop Adjustment:         SII (bullish)

High Risk/Reward
  Closed Bullish Play:     VRSN 

Long-Term Plays
  Closed Bullish Play:     HC


Split Trader
                           CACB: 3-for-2 split announcement
                           ESI:  2-for-1 split announcement

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


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

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

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

Broadcom - BRCM - close: 26.39 change: +1.85 stop: 27.01

Believe it or not, selling was the dominant theme in early-
morning trading for BRCM.  Shares moved under $24.49, which 
activated this short play with a stop at $27.01.  A subsequent 
rally in the chip sector courtesy of anticipation of strong AMAT 
earnings pushed BRCM to a 7.5% gain.  If we're not stopped out 
tomorrow, we'll be waiting to see how the market reacts to AMAT's 
announcement on Tuesday night.





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

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

BMC Software - BMC - close: 16.70 change: +0.72 stop: 16.53 *new*

A day ahead of its annual Investor Day, BMC moved higher with the 
software sector and gained 4.5%.  A strong rally in the SOX.X 
carried over to the GSO.X software index, which gained nearly 
4.7%.  Shares of BMC rose sharply after retest of the $16 level 
and quickly moved above our stop at $16.53.  This closed out our 
short play for a loss of eight cents.  Despite today's rally, BMC 
faces formidable overhead resistance in the form of the 50 and 
200 MA's just under $17.  A failed rally at this level combined 
with a lack of positive news from the AMAT and IBM camps could 
present a fresh opportunity for aggressive bears.  In related 
news today, BMC announced the availability of its website 
monitoring software in Mexico and Latin America.  

Picked on May 9th at $16.45 
Gain since picked:    -0.08
Earnings Date      05/06/02 (confirmed)





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

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

Triggered Short Plays
---------------------

Danaher Corp. - DHR - close: 69.38 change: -0.51 stop: 73.01

Shares of DHR gapped lower this morning and opened below our 
trigger price of $69.39.  This initiated our short play at the 
opening price of $69.03.  Now that the play is active, our stop-
loss is set at $73.01.  Now we're targeting a move to the 200-dma 
near $61.50 but expect support between $64.50 and $65.00.


 

--- 

Sabre Holdings - TSG - close: 40.05 change: -0.08 stop: 42.01

Despite strong days turned in by travel stocks ROOM and EXPE, TSG 
finished with a fractional loss.  Shares spiked lower in 
afternoon trading and triggered our action point at $39.74.  With 
the sector acting strong and shares resting just above the 200-
dma, traders still looking for an entry may want to wait for a 
move under today's low of $39.67.  We're starting this play with 
a stop at $42.01.  Use caution.


 


Stop Adjustments
----------------

Smith Intl - SII - close: 76.06 change: +1.87 stop: 71.29 *new*

An eight-month high in the price of oil propelled SII to levels 
not seen since June 2001.  The technical picture looks strong, 
but in order to minimize our downside risk we're going to tighten 
our stop to break-even, at $71.29.  If SII continues higher we'll 
be looking for an exit near the $80 level.





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

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

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

VeriSign Inc. - VRSN - close: 10.01 change: +0.01 stop: 9.96

VRSN finished today's session with a one-cent gain, but that only 
tells part of the story.  Shares started off the day in strong 
fashion and quickly moved above our trigger price at $10.51 on 
its way to a high of $10.63.  Unfortunately, the stock quickly 
dropped below both the $10 level and our relatively tight stop at 
$9.96.  This closed out our newly-minted short play for a loss of 
$0.55.  Although VRSN whipsawed its way to our drop list, the 
technical picture remains much the same, and there is ample 
upside room for the stock to move if the NASDAQ rebounds this 
week.  The catalyst for such a rally could come in the form of 
strong numbers from AMAT (which reports earnings after the bell 
tomorrow) or IBM's mid-week conference with analysts. Traders who 
still like VRSN as a long play could wait for shares to move over 
today's high of $10.63.  However, traders will need to keep an 
eye on the newswires.  It's possible that today's drop was 
sparked by news that VRSN was hit with another lawsuit, this time 
by a rival, over a controversial marketing campaign they claim as 
false ads with expiration notices.  VRSN is not alone in this 
type of strategy.  Several of the larger domain name registrars 
have been known for the sneaky marketing approach but this is the 
first we've heard regarding litigation over the practice.

Picked on May 13th at $10.51 
Gain since picked:     -0.55
Earnings Date       04/25/02 (confirmed)
 




==================================================================
LONG-TERM PLAYS (LT) section
================================================================== 

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

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

Hanover Compressor - HC - cls: 15.77 chg: -0.76 stop: 15.99

Hanover Compressor, a leading supplier of outsourced natural gas 
compression services, sold off sharply at the open this morning, 
after reporting earnings of $0.18, compared to consensus 
estimates of $0.24.  The earnings short fall caused an opening 
plunge in the price of HC, triggering our sell stop. The opening 
trade was $15.00, which is the value we have used to compute the 
loss on this trade.  HC traded as low as $14.00 before rebounding 
later in the day and finished trading at 15.77.  Today's strength 
in the Dow, as well as a 2% advance in the Oil Services Index 
(OSX.X), represent probable reasons for renewed strength in the 
stock later in the day.   

Picked on April 3rd at $18.80 
Gain since picked:      -3.80
Earnings Date        05/13/02 (confirmed) 





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

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

Cascade Bancorp offers 3-for-2 stock split

Roughly 90 minutes before the closing bell today, Cascade Bancorp 
(NASDAQ: CACB) announced that its Board of Directors had declared 
a 3-for-2 stock split.

The split will be issued on May 31, 2002 to stockholders of record
on May 24, 2002.

CACB most recently split in June 2001, a 6-for-5 offering.  The 
stock has risen 22% YTD, and trades on light average volume of 12K 
shares/day.

CACB closed at $19.46 on Friday. For a current quote, click here:

http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=CACB

About the company
Cascade Bancorp is an Oregon state chartered Financial Holding 
Company, with Bank of the Cascades as its principal subsidiary. 
Founded in 1976, Bank of the Cascades offers full service 
community banking including trust and investment services. 
(source: company press release)
 
--- 

ITT Educational makes the grade with 2-for-1 split

Prior to this morning's opening bell, ITT Educational Services, 
Inc. (NYSE: ESI) announced that its Board of Directors had 
approved 2-for-1 stock split.

The split will take the form of a 100% stock dividend and will be 
payable on June 5, 2002 to shareholders of record on May 28, 2002.

ESI most recently split in 1996.  Today's announcement comes after 
a dramatic run-up in the stock's price; shares have nearly 
quintupled since early 2000.

ESI closed at $48.95 on Friday. For a current quote, click here:

http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=ESI

About the company
ESI is a leading private college system offering career-focused 
programs in fields of technology to approximately 31,000 students. 
ESI operates 70 ITT Technical Institutes in 28 states. Students at 
the ITT Technical Institutes primarily enroll in associate's and 
bachelor's degree programs of study. (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 

OXY     Occidental Petro Corp      29.62     +0.57
FPL     FPL Group Inc              62.88     +0.60
AHC     Amerada Hess Corp          80.79     +2.36
TSN     Tyson Foods Inc            14.73     +0.54
MUR     Murphy Oil Corp            95.51     +1.15
CP      Canadian Pacific Ltd       23.25     +0.51

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

NTAP    Network Appliance Inc      17.33     +1.90
NUS     Nu Skin Enterprises        14.48     +1.48
VERS    Versicor Inc               13.50     +1.28
CLHB    Clean Harbors Inc          13.94     +1.55
MDCI    Medical Action Industries  14.40     +2.18
TENT    Total Entertainment        13.80     +1.01

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

WTW     Weight Watchers Intl Inc   39.35     +2.48
MAN     Manpower Inc               41.23     +2.37
IFIN    Investors Financial Svcs   77.99     +1.56
LE      Land's End Inc             61.73     +10.71
CNF     CNF Transportation         33.75     +2.45
IBC     Interstate Bakeries Corp   28.45     +1.19
SHLM    A.Schulman Inc             23.80     +1.27

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

XEL     XCEL Energy Inc            22.17     -1.13
IDPH    IDEC Pharmaceuticals       44.60     -1.39
CSC     Computer Science Corp      39.25     -1.19
TDS     Telephone & Data System    78.70     -1.30
CVC     Cablevision Systems        20.25     -2.15
ACDO    Accredo Health Inc         55.99     -1.12

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

EXC     Exelon Corp                55.05     -0.91
ALE     Allete Inc                 30.01     -0.74
GAN     Garan Inc                  59.50     -4.00



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