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Daily Newsletter, Friday, 05/31/2002

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PremierInvestor.net Newsletter          Weekend Edition 05-31-2002
                                                    section 1 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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To view this email newsletter in HTML format with imbedded
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In section one:

Market Wrap:      Concerns About Oracle's Quarter Found Selling
Play-of-the-Day:  A Bearish Onslaught!
Watch List:       COCO, HGSI, MLNM, RYL, and much more!
Market Sentiment: Market Sentiment will be available on the Premier
                  Investor website late Saturday afternoon

******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
        WE 5-31          WE 5-24          WE 5-17          WE 5-10 
DOW     9925.25 -179.01 10104.26 -248.82 10353.08 +413.16  - 66.68   
Nasdaq  1615.73 - 45.76  1661.49 - 79.90  1741.39 +140.54  - 12.15   
S&P-100  529.20 - 10.72   539.92 - 13.38   553.30 + 30.06  -  7.28   
S&P-500 1067.14 - 16.68  1083.82 - 22.77  1106.59 + 51.60  - 18.44   
W5000  10106.49 -144.15 10250.64 -223.54 10474.18 +456.71  -184.57   
RUT      487.47 -  6.17   493.64 - 15.30   508.94 + 16.21  - 19.59   
TRAN    2749.26 +  5.59  2743.67 - 54.69  2798.36 +155.26  -100.46   
VIX       22.90 +  1.64    21.16 +   .88    20.28 -  4.75  +  1.80   
VXN       45.95 +  3.09    42.86 -   .08    42.94 -  7.79  +  4.47   
TRIN       1.11             1.59             0.78             2.56      
Put/Call    .73              .82              .72              .83      
******************************************************************


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

Concerns about Oracle's quarter found selling

What looked to be a bullish day for stocks turned rather sour by 
sessions end.  At today's 01:00 EST Update, stocks were trading 
at their best levels of the session.  Even the beleaguered 
NASDAQ-100 (NDX.X) and NASDAQ-100 Trust (QQQ) were near their 
session highs.

Earlier today, there was some trader talk that Oracle 
(NASDAQ:ORCL) wasn't opening as bullish as broader technology and 
that a CNET report regarding continued controversy regarding 
Oracle's $95 million contract with the state of California was 
causing some potential customers to delay signing deals, and that 
the company is offering unusually steep discounts as a result.  
At around 01:15 PM, "rumor" started circulating among traders 
that Oracle's (ORCL) current quarter (Q4) that ends today, might 
be tracking on the light side.

This "revelation" comes just a day after yesterday's more bullish 
comments from Soundview saying that yesterday's strength in the 
enterprise software group was likely due to some channel checks 
indicating visibility in May was significantly improved and 
running ahead of last year, and that professional services firms 
were indicating a significant increase in requests for proposals 
(RPPs).

Today's new 52-week low close in Oracle (ORCL) has some in the 
sector understanding that RFP's don't necessarily mean a 
particular company is going to see the business.  If ORCL is 
indeed discounting prices to earn business, then question arises 
as to just how meaningful Soundview's channel checks really were.

As mentioned in last night's wrap, we wanted to monitor some of 
these stocks in the group for any sign of bullishness from 
Soundview's comments, but today's action in the group doesn't 
seem to have the MARKET necessarily thinking the same thing.

Oracle Chart - 30-minute interval




The 30-minute chart of ORCL gives some detail that today's 
"rumor" and concerns for the current quarter due out June 18th, 
may not necessarily be a "surprise" as the stock's down about 17% 
from its May 17th relative high, but did create further concern 
and had the stock under selling pressure from the open.  From 
01:00 to 01:30 PM (13:30 military time) ORCL broke its early 
morning low, then volume picked up and the stock traded lower 
into the close.

The GSTI Software Index (GSO.X) 120.71 -1.95% traded heavy all 
session long, much like component Oracle and finished the day at 
its lows.  In our analogy of this sector being one of the weaker 
tech groups in recent weeks, the tail of the inchworm started 
slipping and just never could get a grip on things today.  Oracle 
(ORCL) looks to be the main culprit and may have software stocks 
trading more bearish until Oracle's earnings on June 18th.

One can perhaps point their finger at Oracle and the software 
group as you can really pick up on the DIVERGENCE between the 
two.  Again, up until the 01:00 update, stocks were trading right 
near their session highs, but the "light quarter" concern with 
ORCL brought out the sellers before the weekend in technology 
stocks.

NASDAQ-100 Trust (QQQ) - 30-minute interval




Near-term, it sure looks like technology bulls don't need to put 
on their party hats until the QQQ can get above the $31.10 level.  
Today's high of $31.04 is noted, so I'll add an additional $0.06 
as an alert.  If the QQQ is thought of as the "body" of the 
inchworm, you can kind of see how it started stagnating near 
resistance, but when the "tail," or a weak stock like ORCL 
slipped lower, then the whole body followed.  ORCL is the 8th 
most heavily weighted stock in the QQQ's and still has some pull, 
or should is say "drag" as it relates to the QQQ's and technology 
stocks.

If you ever get really interested in better understanding the 
QQQ's (traders love to trade them) then hop over to the NASDAQ 
site at http://dynamic.nasdaq.com/dynamic/nasdaq100_activity.stm 
and look at how each stocks weight can impact things.

Since we're on the subject, lets quickly review the internals of 
the NASDAQ-100 and get up to date on the NASDAQ-100 bullish % 
($BPNDX).  This week's finishing numbers have just 33% of the 
stocks (33 out of 100) showing "buy signals" still intact on 
their point and figure charts.

NASDAQ-100 Bullish % Chart - Daily Interval




Last Friday's reading was 40% and tonight reading of 33% tells us 
that the NASDAQ-100 lost a net 7 stocks to sell signals this 
week.  This tells us there is still internal damage being 
experienced and bullish traders should be limiting exposure to 
many stocks in this market (as it relates to NASDAQ-100) until 
things get reversed.  That doesn't mean a bull can't try and pick 
away at a few stocks that are in upward trends, or breaking out 
of a base of consolidation, but I'd still suggest limiting your 
trade size and capital exposure.  Then, when the broader 
internals reverse more bullish, look to round up as bullishness 
builds.

Cisco Systems Chart - $0.50 and $1 box




On Thursday, shares of Cisco Systems (NASDAQ:CSCO) 15.78 -1.43% 
traded the $15.50 level and that had the stock reversing into a 
column of O's (3-box reversal) after rallying after earnings and 
finding resistance at its bearish resistance trend (red +).  CSCO 
is a component of the NASDAQ-100 and gave a sell signal back in 
April (after red 4) at $15.50 and the stock fell to $12.50.  With 
the NASDAQ-100 bullish % ($BPNDX) still showing internal 
weakness, I think CSCO remains a good bearish trade, with a stop 
at $17.50 and targeting the $13-$13.50 area.  The bearish 
vertical count of $7.00 could weigh on any bull's mind.

A bearish trader that "wishes" he/she would have shorted the 
stock in April (red 4) prior to its decline to $12.50, can 
perhaps correlate Cisco's "red 4" on the point and figure chart, 
with the "red 4" on the NASDAQ-100 Bullish % chart from above.  
We can currently make the observation that both are in a column 
of O, which tells us that supply (selling) is back in control.

While a move from $15.50 to $13.50 doesn't seem like much, it 
does represent a 12.9% gain to a bearish trader.  A stop at 
$17.50 represents an -11.4% loss.  As such, a bearish trader 
would be better off to ease into a short position to begin with, 
get a feel for things.  Just remember though, the bearish 
vertical count is $7.00 and this is what most institutions will 
assess current risk/reward against.

A lesson I learned a long time ago when I only used bar charts.  
When you see a stock break above its 200-day moving average, like 
CSCO did on May 17th at $17.25, bar chartists oftentimes find 
that as a bullish action point.  However, if a CSCO bull had 
combined his/her bar chart analysis with the point and figure 
chart, and understood the impact of the bearish resistance trend, 
then a potential bull in CSCO may have avoided the trade and 
waited for $17.50 or better yet $18 to have CSCO breaking trend 
and giving a buy signal.

So much for this year's market history

Historically, this past week tended to be bullish for the U.S. 
markets as the week after Memorial Day had traded bullish in 14 
of the last 18 years.  Next year, that statistic will change to 
14 of last 19 years.

It was another week of lower prices for the major market averages 
and indexes.

Only the two healthcare sectors we follow finished the week with 
any type of solid gain.  The Dow Transports (TRAN) finished the 
week fractionally higher, while Oil Service (OSX.X) finished flat 
for a third straight week.

The market was defensive as the 10-year Treasury YIELD ($TNX.X) 
fell to 5.04% by week's end, with a lower YIELD indicating buying 
in Treasuries.  

Gold stocks as depicted by the Gold/Silver Index (XAU.X) lost a 
bit of luster this week, but most likely just saw some good old-
fashioned profit taking.  Hey, they needed to rest after 6-weeks 
of gains.

Index Performance




The broader transports as depicted by the Dow Transportation 
Average (TRAN) managed a fractional gain this week.  Today we 
were monitoring the TRAN closely in the 01:00 PM EST update, but 
the just weren't able to make the break at the still rounding 50-
day moving average.  This continues to be near-term bearish for 
this group and will once again monitor the levels discussed in 
today's 01:00 update.  The commercial airlines as followed by the 
Airline Index (XAL.X) traded relatively unchanged on the week and 
continue to hover around the 80.00 mark for the fourth 
consecutive week.

Technology stocks continue to suffer with the more "telecom" 
sensitive equipment areas like Wireless (YLS.X) and Fiber Optic 
(FOP.X) still outpacing the declines.  Past observations have the 
broader Networking Index (NWX.X) playing catch up, thus my above 
thoughts with regards to networking giant Cisco (CSCO).

The Dow Jones Home Construction Index (DJUSHB) was suspiciously 
weak this past week and something that needs to have a watchful 
eye on.  While the 10-year YIELD ($TNX.X) fell and had mortgage 
rates edging lower, the home builders did show some weakness.

Again, this has been one area of the economy that had really been 
strong in past months and one of the key drivers for economic 
stability.  Bulls want to see the DJUSHB hold above the 350 
level.  A break much below that level and a red light begins to 
flash.

Jeff Bailey
Senior Market Technician



=========================
Play-of-the-Day (Bearish)
=========================
(( new High-Risk/High-Reward short play ))

Williams Co. - WMB - close: 14.20 change: +0.20 stop: *text*

Company Description:
Williams moves, manages and markets a variety of energy products, 
including natural gas, liquid hydrocarbons, petroleum and 
electricity. Our operations span the energy value chain from 
wellhead to burner tip. Based in Tulsa, Okla., Williams and its 
12,000 worldwide employees contributed $45 million in 2001 to 
support the environment, health and human services, the arts, and 
education in its communities. (source: company press release)

Why We Like It: 
An ancient Chinese curse reads: "May you live in interesting 
times."  Well, things have gotten very interesting for 
shareholders of WMB.  In the post-Enron world nearly every 
company that trades energy is under a shadow of suspicion.  When 
these suspicions are confirmed, investors can't hit the "sell" 
button fast enough.  WMB was hammered this week on continued 
allegations of price fixing in California, a credit downgrade 
from S&P, reduced guidance from EP (another energy company), a 
downgrade from Solomon Smith Barney, and most recently 
accusations of illegal "round-trip" trading.  Ouch!  With this 
laundry list of bad news it's not surprising that WMB lost nearly 
20% on the week.  And we think the worst may be yet to come.  
Shares of WMB are teetering on the brink of oblivion.  Well, 
perhaps that's a bit melodramatic, but shares haven't traded this 
low since 1995.  If the $14 level is broken there is no 
historical support until $10.00.  With this in mind, we're going 
to target a move to $10.26.  This would be a 25% move from our 
entry point.  The technical picture reinforces our bearish 
outlook: Daily stochastics are plummeting, the MACD is about to 
produce a bearish crossover, and the p-n-f chart is signaling a 
fresh double-bottom sell signal.  However, in order to confirm a 
breakdown we're going to set an entry trigger at $13.68, just 
under today's low.  If shares trade at or below this level we'll 
go short with a stop at $15.51, just above the Thursday high.  
Note that due to the oversold nature and general uncertainty 
surrounding the energy sector, this is a high-risk/high-reward 
play.  

Picked on May 31st at xx.xx <- see text 
Gain since picked:    +0.00
Earnings Date       4/25/02 (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
---------------------------------


Corinthian Colleges - COCO - close: 27.43 change: +0.53

WHAT TO WATCH: Investors are loco for COCO.  The stock has been 
stair-stepping higher since September, repeatedly bouncing from 
the 50-dma.  After setting an all-time high of $29.69 in late 
April, shares spent the month of May consolidating some of those 
gains.  Shares are once again resting at the 50-dma ($26.97).  If 
the recent trend is any indication, COCO will bounce from this 
level and retest the $30 level.  Entries can be considered at 
current levels, with a stop just under the relative low of 
$25.99.




---

Human Genome Sciences - HGSI - close: 17.25 change: -0.47

WHAT TO WATCH: HGSI rallied sharply last week after positive news 
from BGEN temporarily lit a fire under the biotech sector.  That 
fire seems to have flickered out, and shareholders of HGSI are 
now faced with a falling 50-dma (which has acted as resistance 
since March) and a downtrending BTK.X.  HGSI briefly moved over 
the $18.00 level today but proceeded to fall back under the 50-
dma at $17.25.  Traders can evaluate entries at current levels 
with stops placed just above today's high of $18.32.  We'd be 
looking for a near-term move to the $15 level.


 

--- 

Millennium Pharmaceuticals - MLNM - close: 15.09 change: -1.05

WHAT TO WATCH: Buying opportunity or bear trap?  MLNM certainly 
appears to be a good short play.  It's trading at multi-year lows 
and dropped 6.5% today on no discernable news.  This created a 
new double-bottom selling signal on the p-n-f chart.  However, 
the daily stochastics have reached the oversold region, 
suggesting that near-term selling may be exhausted.  Aggressive 
traders willing to risk an oversold bounce can target short 
entries on a break below today's low of $14.90.




---

Ryland Group - RYL - close: 54.00 change: +0.25

WHAT TO WATCH: RYL commenced post-split (2-for-1) trading today.  
Prior to the split, shares had been trading in an ascending 
channel, bolstered by the rising 50-dma.  The stock has benefited 
from a strong uptrend in the DJUHSB home construction index, 
which is also nearing the lower end of its ascending channel.  We 
suspect RYL will continue to move higher in its (split-adjusted) 
channel and would look for entries on a bounce $51-$52.  However, 
it's possible that shares will suffer a post-split decline and 
move lower to test psychological support at $50.  A bounce from 
this level could also provide an entry point.






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

Siebel Systems - SEBL - close: 18.25 change: -1.21
 
SEBL is trading at multi-month lows and looks like it's going to 
retest the $15 level.  Short positions can be gauged on a move 
below $18.00, although more cautious types may first want to see 
the GSO.X software index break below the near-term low of 119.15.




---

Gillette Co - G - close: 35.57 change: +0.47

If the market is getting defensive then stocks like G are likely 
to stay in favor with investors and money managers.  Shares have 
pulled back to technical support and was able to maintain some of 
its gains from Friday.  We think it's an entry point but shares 
move kind of slow for a short-term trader.  We would target a 
move to $38.00.




---

T J X Companies - TJX - close: 21.09 change: +0.50

It's not the prettiest chart but the selling in TJX may be 
exhausted.  The retail sector is a bit mixed but shares of TJX 
have bounced three times at the $20 level in the last month and 
the MACD appears ready to produce a bullish crossover in the next 
couple of sessions.  A move over $21.25 might be a potential 
trigger point for a long play.  Look for $22.50 to be potential 
resistance.




---

Limited Brands - LTD - close: 20.99 change: +0.79

LTD is another retail stock that has still been able to maintain 
its bullish trend.  Shares have pulled back from their recent 
highs to find support near their 40-dma and the psychological $20 
level.  We like the bounce today but would probably wait for a 
move over the $21 mark (which could be soon).  




---

Clorox Co - CLX - close: 45.80 change: +0.48

Clorox is another defensive non-durable consumables play that has 
drifted to the bottom of its ascending channel and bounced.  
Traders could choose their own level of risk with a stop under 
$45 or under $44.  Immediate resistance is the $48 level but we'd 
target a move to $50 - just give it enough time.




---

YUM Brands - YUM - close: 63.90 change: +0.30

Yet another retail related company/stock that has maintained its 
bullish up trend.  Like several stocks in the group, YUM has 
drifted towards its 50-dma and we would keep an eye on it for a 
potential entry point.  Be aware that the stock does have a split 
coming.




---

Outback Steakhouse - OSI - close: 39.63 change: +1.05

The breakout over the $38 level was pretty bullish and the pull 
back to retest previous resistance as support is common.  Now 
that shares have bounced at $38 we would watch for a move over 
the $40 mark as a potential trigger for bullish plays.  However, 
if the markets continue to falter we might get another 
opportunity between $38 and $39.




---

Whole Foods Market Inc - WFMI - close: 51.17 change: +1.61

This stock tends to move a little slow for us to play but it is 
breaking out to new highs and some investors might find it to 
their liking.  Personally, we think the goods in their store are 
a bit overpriced compared to local food chains.




---

Tuesday Morning - TUES - close: 27.77 change: +1.12

We considered adding TUES as a long-term play to the Premier 
list.  We like the slow consolidation from recent highs and the 
nice bounce from support and 50-dma.  The MACD is curling higher 
from the base line and a move over $28 or $29 could be a trigger 
point.




---

PETsMART - PETM - close: 16.44 change: +0.57

This stock just doesn't give up.  The Premier Investor Newsletter 
was successful in PETM on our long-term list yet shares have 
continued to climb higher.  The move today looks bullish but 
there is no reason to chase it.  Keep this one on your radar 
screen for the right entry point.




---

Skechers USA - SKX - close: 21.71 change: +0.88

SKX came very close to making it to the PI play list this 
weekend.  We like the longer-term and short-term bullish trend 
and the recent bounce off the $20 level looks like an entry 
point.  The PnF chart is a bit daunting as shares are currently 
in a bearish pattern but a move over $22 might be a trigger 
point.  MACD looks good to.  We'd look for a move to $24 to $25.






----------------
The RADAR Screen
----------------

DGX  - could be a bottom.  look for a move over $90.

OHP  - nice sector, near new highs.

HNT  - great trend, MACD looks good, nice bounce.

NE   - nice trend, nice bounce at support, resistance @ $46

RCII - pull back to 50-dma, watch for bounce.

VVI  - great trend.  nice consolidation. use trigger above $30

TOY  - nice move over $18, target 200-dma for 6.8% gain.

BMS  - high risk play, but buy at support, trigger @ 50 or 52

SBC  - looks bearish.  target $30

TY   - new relative lows but risky with low volume.

NVDA - looks like it could retest $30 (for 10% move).




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

Please check the Premier Investor website.  The market sentiment
will be posted late Saturday afternoon.




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DISCLAIMER
=================================================================

This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
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Copyright  2001  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 05-31-2002
                                                    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
=================================================================
To view this email newsletter in HTML format with imbedded
charts and graphs, click here:
http://www.PremierInvestor.net/htmlemail/e31b_2.asp
=================================================================

In section two:

Net Bulls
  New Bearish Plays:     AT, CMCSK, NET
  Bearish Play Updates:  BRCD, CLS, TBH

Stock Bottom / Active Trader
  New Bullish Plays:     CPC
  Bullish Play Updates:  ATK, AZO, CR, DCN, DCX, GR, RIG, RJR, RSG, THC,
XRAY
  Bearish Play Updates:  BA, DHR
  Closed Bearish Plays:  TSG

High Risk/Reward
  New Bearish Plays:     WMB
  Bullish Play Updates:  PVN
  Closed Bullish Plays:  LU

Long-term Plays
  New Bullish Play:      SAFC
  Bullish Play Updates:  ONE, UHS



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

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

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

Alltel Corp - AT - close: 51.49 change: +0.32 stop: *text*

Company Description:
ALLTEL, with more than 10 million communications customers and
$7.6 billion in annual revenues, is a leader in the
communications and information services industries. ALLTEL has
communications customers in 24 states and provides information
services to telecommunications, financial and mortgage clients in
more than 50 countries. (source: company press release)

Why We Like It:
As long as the telecom group keeps falling, we'll keep picking on
hapless telecom stocks.  Our latest victim is AT.  The stock has
been downtrending for the duration of the year and recently
bounced to the top of its descending regression channel.  With no
sign of a reversal in the telecom sector, we think AT will roll
over and eventually drop the to bottom of the channel near $42.
AT was upgraded by Dresdner Kleinwart Wasser on Tuesday, but
investors paid it little heed.  The oscillators are also
encouraging for the bears, with daily stochastics (5,3,3)
dropping lower and the MACD beginning to flatten out at the
baseline.  In terms of sector strength, the IXTCX combined
telecom index has erased nearly all of its mid-May gains and is
threatening to break to all-time lows.  The XTC.X North American
telecom index is beginning to curl lower from the top of its
descending channel.  Before we get short, however, we'd like to
see AT trade below psychological support at $50.  Thus, we won't
go short until shares trade at or below $49.94.  If we're
triggered, our stop will be placed at $52.26, just above the
near-term high.  This will also force AT to break above the
regression channel and trade above the 50-dma ($51.91).

Picked on June Xth at $xx.xx <- see text
Change since picked:   +0.00
Earnings Date       04/25/02 (confirmed)




---

Comcast Corp - CMCSK - close: 28.16 change: -0.10 stop: *text*

Company Description:
Comcast Corporation is principally involved in the development,
management and operation of broadband cable networks, and in the
provision of electronic commerce and programming content. Comcast
Cable is the third largest cable company in the United States
serving more than 8.5 million cable subscribers. Comcast's
commerce and content businesses include majority ownership of
QVC, Comcast-Spectacor, Comcast SportsNet, The Golf Channel,
Outdoor Life Network, G4, a controlling interest in E! Networks,
and other programming investments. (source: company press
release)

Why We Like It:
With Adelphia Communications leading the cable industry to new
lows on a daily basis some might be wondering when investors are
just going to throw in the towel.  Shares of CMCSK are already
down from their December highs near $40 and the trend shows no
signs of stopping.  The industry has been under close scrutiny
and as scandals continue to pop up from the Adelphia mess the
crisis of confidence for investors has hit the rest of the
industry.  While some analysts are wondering if Adelphia's sale
of assets to Paul Allen's Charter Communications (CHTR) might
boost new life into the sector, it sounds like a Hail Mary pass
with no receiver to catch it.  Also weighing on shares of CMCSK
could be their agreement to purchase subscribers from AOL-Time
Warner's broadband division.  CMCSK isn't saying how much they
are paying per subscriber but the numbers aren't cheap.  While
ultimately the purchase from AOL will likely be good for CMCSK
it's still a big purchase and a drain on assets.  We like the
technical picture for CMCSK too.  The broader long-term trend is
down from its December highs and shares have recently failed to
stay above psychological resistance near $30, which also
corresponded with the top of the descending channel.  The MACD is
also rolling over near the zero line and this helps confirm the
lack of strength in the stock.  Still, just to be patient, we're
going to use a trigger of $27.89 to leg us into this play, which
would essentially be a new monthly low for May (aside from the
1st).  Our target is the $24 level but we expect bulls to put up
some support near the $26 area.  We're going to initiate the play
with a stop at $30.01 but we'll adjust it lower as shares
decline.

Picked on May xth at $xx.xx <- see text
Gain since picked:    +0.00
Earnings Date      05/01/02 (confirmed)




---

Network Associates - NET - close: 19.35 change: -0.49 stop: 22.01

Company Description:
With headquarters in Santa Clara, Calif., Network Associates,
Inc. is a leading supplier of network security and availability
solutions. Network Associates is comprised of three product
groups: McAfee Security, delivering world-class anti-virus and
security products; Sniffer Technologies, a leader in network
availability and system security; and Magic Solutions, a leader
in innovative service management solutions. (source: company
press release)

Why We Like It:
It's been a tough year for shareholders of NET (previous stock
symbol was NETA).  After the company announced that they had
discovered some "accounting inaccuracies" the market corrected
some inaccuracies regarding NET's share price and it fell
painfully.  Since that time the company has recently announced
the results of its internal probe and they will be restating
1998, 1999 and 2000 financial results.  While they're probably
happy to try and get this behind them NET is already under
investigation by the SEC for accounting during fiscal 2000.  The
results of the internal probe had brokers coming out to upgrade
the stock and shares did find some strength but only enough to
reach the top of its descending channel but more on this in a
moment.  Some analysts suspect that the internal probe might just
add fuel to the fire for the SEC already looking into the
company.  If nothing else NET is likely to see some hefty
shareholder lawsuits claiming management's false and misleading
statements about the company's financials.  Optimists are hoping
that a new management team can lead the company out of its
current predicament but short-term the investor sentiment, market
climate and technical picture all appear to be against them.
While a few brokers may have been willing to upgrade NET
individually, there has been a couple of damaging sector-wide
downgrades of the software group in the last couple of weeks.
With no expectation for a pick up in IT spending through the rest
of 2002 there are not a lot of reasons to buy NET now.
Furthermore, shares have been trying to breakout through the top
of their descending channel but Friday's action put it below the
psychological $20 level.  On top of this, traders can time their
entries with the roller coaster swings in the MACD and this one
is screaming for a short.  The bottom of the channel looks way
down there around the $12.50 level but we're going to aim for a
move to the $15 area.  We'll start the play with a stop at $22.01
(a little bit over 10%) but we'll inch it down as soon as we see
some confirmation.

Picked on May 31st at $19.35
Gain since picked:     +0.00
Earnings Date       04/11/02 (confirmed)





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

Brocade - BRCD - close: 19.65 change: +0.54 stop: 20.26 *new*

As we suspected yesterday, shares of BRCD continued their bullish
performance into Friday morning and it didn't hurt that the
broader markets were in rally mode due to strong economic
reports.  The good news for bears is that resistance held both at
the 10-dma and the $20 level.  The bad news for bears is the
strong volume the last two days on the rallies that might
indicate buyers are willing to step in.  Recent articles have
indicated that BRCD will hold an analyst meeting on Monday and
Goldman Sachs expects it to be positive for the company.  That's
a big unknown variable for traders and we're turning cautious.
Our new stop will be just above today's high in order to reduce
our exposure.  We would not encourage new positions until we see
the market's reaction to the analyst meeting.

Picked on May 22nd at $19.35
Gain since picked:     -0.30
Earnings Date       04/15/02 (confirmed)




---

Celestica - CLS - close: 29.52 change: +0.02 stop: 32.01

Well that was interesting.  Did anyone take advantage of Friday's
failed rally in shares of CLS?  The stock rallied through the
first part of the day with the Nasdaq but fell back again under
the $30 support level when the tech heavy index rolled over.  Not
so strangely shares of CLS found resistance a few cents short of
the $30.50 level (see Thursday's update).  Short-term traders
will also note that one of our internal indicators we like to
watch (the 5-dma versus the 15-dma) has produced a bearish
crossover.  The MACD is also rolling as expected.  More
conservative traders could lower their stop if they feel a need
but we're leaving ours at $32.01 for the moment.  This looks like
an entry point for new bearish positions.

Picked on May 21st at $30.94
Gain since picked:     +1.42
Earnings Date       04/17/02 (confirmed)




---

Telecom Brasil - TBH - close: 29.21 change: +0.09 stop: 30.01

Friday's session produced little change in shares of TBH.  The
stock moved in a very narrow range and remains inside its
descending channel while still inside its coiling flag pattern.
The short-term trend looks somewhat bullish but requires a
breakout above resistance while the longer-term pattern is still
bearish and has not been broken.  We're still very cautious when
it comes to new positions and would prefer to wait but jumping in
at these levels would reduce overall exposure.

Picked on May 22nd at $27.70
Gain since picked:     -1.51
Earnings Date            N/A






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

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

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

Central Parking Corp - CPC - cls: 24.60 chg: +0.70 stop: 23.49

Company Description:
Central Parking Corporation, headquartered in Nashville,
Tennessee, is a leading provider of parking and transportation
services. The Company operates approximately 4,000 parking
facilities containing approximately 1.5 million spaces at
locations in 38 states, the District of Columbia, Canada, Puerto
Rico, the United Kingdom, the Republic of Ireland, Chile,
Colombia, Germany, Mexico, Peru, Poland, Spain, Switzerland,
Venezuela and Greece. (source: company press release)

Why We Like It:
This is more of a technical play but a fundamental argument could
probably be made for CPC as well.  If the economy is improving,
more people have jobs - that means more people driving - that
means more people paying for parking.  Sounds too simple?  Well,
just consider this a technical play then.  The month-long decline
in shares of CPC may have ended now that the stock has found
support at the $24 level and its 50-dma.  The Friday jump was due
to an upgrade and volume spiked as shares moved higher.  We
really like the up trend and the risk should be minimal if we use
this as an entry point near the bottom of the ascending channel.
We do expect some resistance around the $25.25 level and near
$26.00 but our upside target is $28.00 (or close to it).  Since
December 2001, if investors were patient and timed their entries
on pull backs when the MACD appeared to be bottoming they would
have done well with CPC.  This looks like one of those
opportunities with the MACD about to bottom out and curl higher
near the baseline.  We're going to initiate the play with a stop
at $23.49.

Picked on May 31st at $24.60
Change since picked:   +0.00
Earnings Date       04/29/02 (confirmed)





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

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

Alliant Techsystems - ATK - cls: 108.78 chg: +1.49 stop: 99.33

We added ATK to our Play List last week in an attempt to capture
a bounce from the bottom of its ascending channel.  Thus far the
stock is behaving just as we had hoped.  Shares tacked on another
1.3% today on news that ATK had completed its acquisition of BA's
ordnance business.  The next obstacle for the bulls lies at the
$110 level, which has acted as resistance in recent weeks.  Given
the three-day rally, we wouldn't be surprised to see a day or two
of consolidation under $110.  Traders can evaluate new entries on
a move over this level or on a pullback to the $106-$108 region.
By the way, did you happen to see the MACD?  It's curling higher
from the baseline and looks ready to produce a bullish crossover.
This bodes well for a retest of the all-time high at $115.40.

Picked on May 24th at $104.85
Change since picked:    +3.93
Earnings Date        05/09/02 (confirmed)




---

Autozone - AZO - close: 81.85 change: -0.71 stop: 78.94

AZO opened Friday's session on a bullish note as shares traded to
an all-time high of $83.44.  This brief excursion into uncharted
territory was the most exciting development of the day; shares
fell below the $83 level and proceeded to trend lower for most of
the session.  This may have been due to money rotating back into
DCN and DPH, both of which suffered heavy selling yesterday.
Despite the small pullback, AZO continues to looks technically
strong.  New entries can be gauged on a bounce from support at
$80 or a close over $83.44.

Picked on May 30th at $82.56
Gain since picked:     -0.71
Earnings Date       05/21/02 (confirmed)




---

Crane Corporation - CR - cls: 27.73 chg: +0.20 stop: 26.94

Has CR put in a near-term bottom?  If one relies solely on the
daily stochastics (5,3,3 setting), this seems to be the case.
The oscillator has dropped below the oversold band and is just
beginning to curl higher.  Bar chartists can also take heart in
the fact that CR has risen back above the 50-dma ($27.65).  From
a p-n-f perspective, it's also encouraging to note that the stock
remains above bullish support at $27.  Although our outlook is
bullish, traders considering entries at current levels need to be
aware of overhead resistance at $28.75 (near-term high) and
$28.99 (YTD high).  A pullback to the 50-dma could also provide
an opportunity to open new long positions.

Picked on May 17th at $28.22
Gain since picked      -0.49
Earnings Date       04/18/02 (confirmed)




---

DaimlerChrysler - DCX - close: 49.38 change: +0.24 stop: 44.66

Reuters reported today that most automotive analysts are
anticipating that the May auto sales data (to be released on
Monday) will show that demand remains strong.  This seemed to
have little impact on DCX, which finished with a 24-cent gain on
the lowest volume of the week.  Technically, the oscillators are
a bit concerning.  The MACD is hinting at a bearish crossover,
while daily stochastics (5,3,3) are heading toward the oversold
region.  If shares head lower next week, traders looking for new
entries can watch for a bounce from near-term support at $48 or
the 50-dma at 46.81.  More aggressive entries could be had on a
close above $50, although its worth nothing that DCX has thus far
been unable to maintain that level.

Picked on May 6th at $46.50
Gain since picked:    +2.88
Earnings Date      02/20/02 (confirmed)




---

Dana Corp. - DCN - close: 21.32 change: +0.47 stop: 20.44

Nice turnaround.  After bouncing from just above our stop
yesterday, DCN continued higher with a 2.2% gain.  Unfortunately
the stock was unable to close above its near-term downtrend.
However, bulls can point to the daily stochastics, which are
beginning to emerge from the oversold region.  This last happened
in late March, just before a strong rally.  A close over $22
would confirm a reversal of the recent downtrend and offer a
possible entry point for new long positions.  If shares pull back
we'd expect the 50-dma at $20.77 to provide support.

Picked on May 17th at $22.26
Change since picked:   -0.94
Earnings Date       04/17/02 (confirmed)




---

Goodrich Corp - GR - close: 33.41 change: +0.10 stop: 30.97

The DFX.X defense index continues to consolidate above the 50-
dma.  Since May 20th it's traded in a narrow four-point range,
which leads us to believe that a large move is in the cards.
With no indication of reduced tensions in the Mideast and Indian
subcontinent, we suspect the move will be to the upside.  GR
spent all of Friday's session above the $33 level but was once
again repelled by near-term resistance at $33.74-$34.00.  Traders
can continue use a move above $34.45 or a bounce from the 50-dma
($32.44) as possible action points to go long.  Premier Investor
is currently up 4.5% on this play.

Picked on May 3rd at $31.97
Gain since picked:    +1.44
Earnings Date      04/24/02 (confirmed)




---

Transocean Inc. - RIG - close: 38.17 change: +0.72 stop: 36.84

Light crude futures (cl02n) bucked the recent downtrend and
closed the week out with a small gain.  The OSX.X successfully
tested the 50-dma (103.75) for the third straight session and
finished with a gain of 1.1%, while RIG outperformed the index
and rose by 1.9%.  After moving higher in morning trading, shares
traded in a narrow range between the $38 level and near-term
resistance at $38.40.  With the OSX.X hanging tough and crude
futures looking oversold, we're anticipating some bullish action
in RIG next week.  Aggressive traders can target new entries on a
break above today's high of $38.43, while others may want to wait
for a close over the multi-month high of $39.33.  This would
clear the way for a test of psychological resistance at $40.

Picked on May 23rd at $39.26
Gain since picked:     -1.09
Earnings Date:      04/30/02 (confirmed)




---

RJ Reynolds - RJR - close: 70.70 change: +0.36 stop: 67.94

Big MO led the tobacco group higher on Friday as the sector
leader tagged a new multi-year high.  RJR followed suit with a
36-cent gain, which was good for a new relative high.  Shares are
quickly approaching resistance at $72.  It'll take a strong
effort on the part of the bulls to break through this level, but
the strong near-term uptrend and bullish MACD leads us to believe
they'll be successful.  In terms of new entries, traders can
watch for either a close over $72 or a bounce from $70.  In
tobacco-related news, Mexico announced today that beginning in
2003, it would ban all tobacco ads from radio and TV.

Picked on May 30th at $70.34
Change since picked:   +0.36
Earnings Date       04/18/02 (confirmed)




---

Republic Services - RSG - cls: 21.02 chg: -0.10 stop: 19.87

The bulls just can't seem to power RSG over $21.40.  This level
stymied rally attempts on Wednesday, Thursday, and Friday.  With
near-term support at $21.00 holding strong, the net result has
been three days of rangebound trading.  Shares actually hit a new
52-week high of $21.43 today but quickly pulled back.  Traders
looking for action points can target a close over this level or a
bounce from $21.

Picked on May 30th at $21.26
Gain since picked:     -0.24
Earnings Date       04/29/02 (confirmed)




---

Tenet Healthcare - THC - close: 74.50 change: +0.30 stop: 69.33

The HMO.X health provider index took a break on Friday and pulled
back to previous resistance at 620, while THC outperformed the
sector and finished with a small gain.  With the MACD signaling a
bullish crossover today (and HMO also showing a strong MACD), we
think it's just a matter of time until shares reach the all-time
high of $75.45.  A close over this level would likely lead us to
bump up our stop to just under the 50-dma at $70.93.  Traders
looking to open new long positions can continue to watch for
either a bounce from the $72-$73 region or move over the all-time
high.

Picked on May 29th at $72.98
Change since picked:   +1.22
Earnings Date       04/02/02 (confirmed)




---

Dentsply Intl. - XRAY - cls: 40.06 chg: -0.20 stop: 37.95

Watching XRAY trade on Friday was about as entertaining as
sitting in the waiting room at the dentist.  Bulls tried half-
heartedly to push the stock over yesterday's high and then
stepped aside in afternoon trading.  Shares finished with a small
loss, closing just above the $40 level.  Overall, we think the
technical picture remains strong.  The MACD is signaling a fresh
bullish crossover and today's orderly pullback was not indicative
of a near-term top.  Aggressive traders can think about going
long at current levels, while a close over $41 would provide a
more clearly-defined action point.

Picked on May 28th at $40.25
Gain since picked:     -0.19
Earnings Date       04/14/02 (confirmed)




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

Boeing Company - BA - close: 42.65 change: -1.01 stop: 45.80

Good news that BA had won a contract with the military worth
upwards of $9 billion was not enough to keep shares in the green.
Shares failed at the $44 level and sold off into the close.  This
is good news for the bears and short-term hourly indicators are
forecasting lower prices ahead but the daily chart still has
support at the 200-dma and the $42 area.  Our short-term target
was to capture a move towards the $40 area and we would not
recommend new positions at this time.

Picked on May 21st at $44.35
Gain since picked:     +1.70
Earnings Date       07/18/02 (unconfirmed)




---

Danaher Corp. - DHR - close: 69.62 change: +1.76 stop: 72.01

DHR, the stock with the largest market cap in the scientific &
technical instruments industry, bounced almost 2.6% today after a
strong opening.  Shares had fallen three days in a row so the
stock appeared to be due for a bounce.  The short-term descending
regression channel, best seen on an hourly chart, is still in
effect.  A move up to the $71 level would be the top of the
channel and a failed rally there might be a good low-risk entry
point.  However, failure to close back above the $70 level would
be even more enticing.  We are still aiming for a move to the $65
level and a potential drop to the 200-dma near $62.50.

Picked on May 13th at $69.03
Gain since picked:     +1.17
Earnings Date       04/18/02 (confirmed)





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

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

Sabre Holdings - TSG - cls: 39.40 chg: +1.77 stop: 38.11

We sort of had a feeling that the bearish decline might be ending
for TSG but we didn't expect it would end so abruptly.  Shares of
the stock gapped higher this morning and didn't look back.  By
the close, TSG had reclaimed its 200-dma and was staring the $40
level in the face.  What caused the sudden interest?  There was
no company specific news but we did see that USA Interactive
(Nasdaq:USAI) had paid big bucks for a time-share travel company
called Interval.  It's possible that bears panicked fearing that
TSG might be next on the list of acquisitions.  USAI has a goal
to spend $9 billion on Internet companies that work to add to the
growing stable of winners.  USAI already owns Ticketmaster
(TMCS), Expedia (EXPE), Hotels.com (ROOM) and they operate
Match.com and Citysearch.  While we wouldn't expect them to buy
TSG since they already own EXPE and ROOM who can say why
investors thought this morning.  We had lowered our stop to
$38.11 last night but the opening trade was $38.30.  Thus we
close the play with a gain of only $1.44.

Picked on May 13th at $39.74
Gain since picked:     +1.44
Earnings Date       04/18/02 (confirmed)






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

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

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

Williams Co. - WMB - close: 14.20 change: +0.20 stop: *text*

Company Description:
Williams moves, manages and markets a variety of energy products,
including natural gas, liquid hydrocarbons, petroleum and
electricity. Our operations span the energy value chain from
wellhead to burner tip. Based in Tulsa, Okla., Williams and its
12,000 worldwide employees contributed $45 million in 2001 to
support the environment, health and human services, the arts, and
education in its communities. (source: company press release)

Why We Like It:
An ancient Chinese curse reads: "May you live in interesting
times."  Well, things have gotten very interesting for
shareholders of WMB.  In the post-Enron world nearly every
company that trades energy is under a shadow of suspicion.  When
these suspicions are confirmed, investors can't hit the "sell"
button fast enough.  WMB was hammered this week on continued
allegations of price fixing in California, a credit downgrade
from S&P, reduced guidance from EP (another energy company), a
downgrade from Solomon Smith Barney, and most recently
accusations of illegal "round-trip" trading.  Ouch!  With this
laundry list of bad news it's not surprising that WMB lost nearly
20% on the week.  And we think the worst may be yet to come.
Shares of WMB are teetering on the brink of oblivion.  Well,
perhaps that's a bit melodramatic, but shares haven't traded this
low since 1995.  If the $14 level is broken there is no
historical support until $10.00.  With this in mind, we're going
to target a move to $10.26.  This would be a 25% move from our
entry point.  The technical picture reinforces our bearish
outlook: Daily stochastics are plummeting, the MACD is about to
produce a bearish crossover, and the p-n-f chart is signaling a
fresh double-bottom sell signal.  However, in order to confirm a
breakdown we're going to set an entry trigger at $13.68, just
under today's low.  If shares trade at or below this level we'll
go short with a stop at $15.51, just above the Thursday high.
Note that due to the oversold nature and general uncertainty
surrounding the energy sector, this is a high-risk/high-reward
play.

Picked on May 31st at xx.xx <- see text
Gain since picked:    +0.00
Earnings Date       4/25/02 (confirmed)





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

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

Providian Financial - PVN - cls: 8.15 chg: +0.28 stop: 6.99

We're getting close!  A strong intraday bounce on Wednesday
followed by a strong two-day rally put shares of PVN over the
$8.00 resistance level by Friday's close.  Currently, Premier is
up almost 6.4% in the play and we're fast approaching our
official exit trigger price of $8.45.  Short-term traders willing
to scalp the move will need to be nimble unless you expect PVN to
breakout to new relative highs (above resistance at $8.50).
Bulls are probably happy with the overall relative strength PVN
has been showing versus the Dow Jones recently but be sure to use
a stop.  The company put out a press release today stating PVN
would present at an investor conference on Wednesday, June 5th.
Given the three days up in a row, PVN could see a consolidation
soon.  Let's hope it's mild or sideways.

Picked on May 22nd at $7.66
Gain since picked:    +0.49
Earnings Date      05/06/02 (confirmed)





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

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

Lucent Technologies - LU - close: 4.65 change: -0.20 stop: *text*

A storm appears to be brewing for shares of Lucent.  The stock
has been unable to hit our trigger point in the last couple of
weeks and indicators are starting to look bearish.  The sector is
still weak and fundamentally the industry is still very fragile.
Nimble traders might want to consider bearish positions in the
stock.  Shares are starting to roll over from the top of their
descending regression channel (from its December highs) and the
MACD is about to rollover as well.  We would expect LU to find
some support at $4.00 and again near $3.80 but who knows if it
will hold this time.

Picked on May xth at $xx.xx <- see text
Gain since picked:    +0.00
Earnings Date      04/22/02 (confirmed)






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


============
LT New Plays
============

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

SAFECO Corp. - SAFC - close: 31.99 change: +0.25 stop: 29.94

Company Description:
Founded in 1923, Seattle-based SAFECO and its more than 17,000
independent agents and financial advisors provide property,
casualty, surety, life and asset insurance, investment and
related financial products to individual and business customers
throughout the United States. (source: company press release)

Why We Like It:
Buy Low, Sell High.  We've all heard it before but sometimes
putting it into practice can seem counterintuitive when the stock
looks a little weak.  Shares of SAFC have been in a multi-week
downtrend since hitting its 52-week high in mid-April near $36.
Fortunately, we think the leg down is over and a rebound is on
the way.  The MACD and stochastics appear to have bottomed and
shares of SAFC have found support on both their daily and weekly
200-period moving averages.  Plus, we've confirmed that shares
are at support on its PnF chart as well.  This doesn't mean
shares can't trade lower but it allows us a lower-risk entry
point because we can place our stop relatively close to a
"bottom".  Shares bottomed pretty well at the $30.50 level
several sessions ago and have been trading higher since.  We're
going to give us some extra room and initiate the play with a
stop at $29.94.  As a long-term play our time horizon is three to
six months to achieve our target(s) of $36.00 to $38.00.  More
conservative traders may want to wait for SAFC to close above the
50-dma first and one could look at a potential stop a bit closer
to the $31.00 area if you're trying to reduce risk.

Picked on May 31st at $31.99
Gain since picked:     +0.00
Earnings Date       04/22/02 (confirmed)





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

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

Bank One Corp. - ONE - cls: 40.63 chg: +0.24 stop: *see text*

ONE continues to distance itself from our entry trigger at
$42.88.  Shares traded in a narrow 71-cent range this week and
made no attempt to move over the 50-dma at $41.28.  On the other
hand, support at $40.00 should prevent the stock from heading
much lower.  This level happens to be bolstered by the 200-week
moving average.  We're willing to give ONE some time to bounce
around in the $40-$42 range, but will probably give it the heave-
ho if it breaks under $40.00.  Remember, if the play does get
triggered we'll use a stop at $39.54.

Picked on May xxth at $xx.xx <-see text
Gain since picked:     +0.00
Earnings Date       04/16/02 (confirmed)




---

Universal Health - UHS - cls: 49.62 chg: +1.09 stop: 43.48 *new*

A strong finish to a great week!  UHS extended its winning streak
to six days on Friday, gaining 2.2% to close at levels not seen
since last October.  Helping to drive the stock higher was a
powerful rally in the HMO.X health provider index, which gained
steadily throughout the week.  With the HMO now over resistance
at 620, a test of the all-time highs near 640 seems likely.
However, with UHS facing psychological resistance at $50, we
would not recommend new entries at this time.  We're anticipating
UHS will move over this level, but the stock is begging for some
consolidation of the recent gains before heading higher.  Traders
targeting new entries may instead want to wait for a pullback to
the $48 level.  Due to this week's rally we're going to tighten
our stop to $43.48, just under the 200-dma.  More cautious
traders may want to place their stops under the 50-dma at $44.76.
Frankly, we'll be surprised if UHS breaks under $46.00.

Picked on April 19th at $46.60
Gain since picked:       +3.02
Earnings Date         04/18/02 (confirmed)







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The Premier Investor Network.
Do not duplicate or redistribute in any form.

PremierInvestor.net Newsletter         Weekend Edition 05-31-2002
                                                   Section 3 of 3
Copyright  2002, All rights reserved.
Redistribution in any form is strictly prohibited.

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In section three:

Market Watch for Week of June 3rd
   - 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 June 3rd
==================================================

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

Symbol  Company               Date           Comment      EPS Est

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

None

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

BTH    Blyth Inc.             Tue, Jun 4   -----N/A-----     0.34
BOBE   Bob Evans Farms        Tue, Jun 4   -----N/A-----     0.45
RDY    Dr. Reddy`s Labs       Tue, Jun 4   -----N/A-----      N/A
PETM   PETsMART               Tue, Jun 4   Before the Bell   0.10
RYAAY  Ryanair Holdings       Tue, Jun 4  -----N/A-----      0.18
SNPS   Synopsys               Tue, Jun 4   After the Bell    0.37

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

ABS    Albertson`s            Wed, Jun 5   Before the Bell   0.56
CMVT   Comverse Technology    Wed, Jun 5   After the Bell   -0.06
MDZ    MDS                    Wed, Jun 5   Before the Bell   0.15
SFD    Smithfield Foods       Wed, Jun 5   -----N/A-----     0.21

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

IDT    IDT Corporation        Thu, Jun 6   -----N/A-----      N/A
NSM    National Semiconductor Thu, Jun 6   -----N/A-----    -0.08
AHO    Royal Ahold N.V.       Thu, Jun 6   -----N/A-----      N/A

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

None


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

Symbol  Company Name              Ratio    Payable     Executable

SRCL    Stericycle Inc.           2:1      05/31       06/03
FBC     Flagstar Bancorp          3:2      05/31       06/03
ALC     Alltrista                 2:1      05/31       06/03
PRSP    Prosperity Bancshares     2:1      05/31       06/03
CNBC    Center Bancorp           21:20     06/01       06/03
FDC     First Data                2:1      06/03       06/04
SLFI    Sterling Financial        5:4      06/03       06/04
AAON    AAON Inc                  3:2      06/04       06/05
FIC     Fair, Isaac and Co        3:2      06/04       06/05
ESI     Fair, Isaac and Co        2:1      06/05       06/06
GBTS    Gateway Financial Hldngs 11:10     06/05       06/06
UPC     Union Planters Corp       3:2      06/06       06/07
CPS     ChoicePoint               4:3      06/06       06/07
GGG     ChoicePoint               3:2      06/06       06/07
AWR     American States Water     2:1      06/07       06/10
FOSL    Fossil, Inc.              3:2      06/07       06/10
ATK     Alliant Tech              3:2      06/10       06/11
SABB    Pacific Capital           4:3      06/10       06/11
APPB    Applebees                 3:2      06/11       06/12
IFIN    Investors Fincl. Srvcs    2:1      06/13       06/14
WTRS    Waters Instruments        3:2      06/14       06/17
OZRK    Bank of the Ozarks, Inc.  2:1      06/14       06/17
MI      Marshall & Ilsley         2:1      06/14       06/17
ALFA    Alfa Corp                 2:1      06/14       06/17


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

Did you hear it?  Wall Street is already looking towards the
June earnings warning season.  Feels like we just finished the
Q1 numbers.  We're looking at a somewhat quiet week.  Auto
and truck sales come out on Monday and a small pile of reports
come out on Friday.

==============================================================
                       -For-           

Monday, 06/03/02
----------------
Auto Sales (NA)          May  Forecast:   6.3M  Previous:    6.3M
Truck Sales (NA)         May  Forecast:   7.5M  Previous:    7.5M
ISM Index (DM)           May  Forecast:   55.0  Previous:    53.9
Construction Spendng(DM) Apr  Forecast:  -0.1%  Previous:   -0.9%

Tuesday, 06/04/02
-----------------
None

Wednesday, 06/05/02
-------------------
ISM Services (DM)        May  Forecast:   56.0  Previous:    55.3

Thursday, 06/06/02
------------------
Initial Claims (BB)    06/01  Forecast:    N/A  Previous:    410K

Friday, 06/07/02
----------------
Nonfarm Payrolls (BB)    May  Forecast:    70K  Previous:     43K
Unemployment Rate (BB)   May  Forecast:   6.1%  Previous:    6.0%
Hourly Earnings (BB)     May  Forecast:   0.3%  Previous:    0.1%
Average Workweek (BB)    May  Forecast:   34.2  Previous:    34.1
Wholesale Inventories(DM)Apr  Forecast:   0.1%  Previous:    0.0%
Consumer Credit (AB)     Apr  Forecast:  $6.0B  Previous:   $4.6B


Definitions:
DM=  During the Market
BB=  Before the Bell
AB=  After the Bell
NA=  Not Available



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

RY	Royal Bank of Canada	     38.31	   +0.79
RDN	Radian Group	           54.30	   +0.42
SFG	Stancorp Financial	     58.68     +2.18
DSL	Downey Financial Corp        54.49	   +0.64
DAB	Dave & Buster's Inc	     12.13	   +1.54
LCI	Lannett Co Inc	           10.05     +1.05

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

BCE	BCE Inc	                 18.51	   +1.03
SM	Sulzer Medica Ltd ADS	     15.65	   +2.05
RUBO	Rubio's Restaurant Inc	      8.10	   +1.32

--------------------------------------- 
Breakout to Upside (Stocks over $20) 
--------------------------------------- 
Ticker  Company Name               Close     Change 
 
UPS	United Parcel Service	     60.38	   +1.38
MET	Metlife Inc	                 33.23     +1.37
ABK	Ambac Financial Group	     67.36     +1.97
WEN	Wendy's Intl Inc	           37.97	   +1.97
DLTR	Dollar Tree Stores Inc	     40.27     +2.76
MIK	Michaels Stores Inc	     43.45     +4.95
ENR	Energizer Holdings	     26.95	   +1.71

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

GSK	GlaxoSmithKline 	           40.75	   -1.31
INFY	Infosys Technologies	     56.54	   -1.46
ADVP	AdvancePCS	23.80	-1.46
ADVS	Advent Software Inc	     39.90	   -3.00
PSB	PS Business Parks	           35.00	   -1.00
JNC	John Nuveen Co	           57.10	   -1.45

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

CTSH	Cognizant Tech Solutions     48.77	   -4.12
ARA	Aracruz Celulose 	           22.05	   -0.45
MGAM	Multimedia Games Inc	     29.82	   -2.78




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