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Daily Newsletter, Wednesday, 07/03/2002

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PremierInvestor.net Newsletter              Wednesday 07-03-2002
                                                  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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To view this email newsletter in HTML format with imbedded
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In section one:

Market Wrap:      Traders are learning patience.
Watch List:       WWW, CLX, IBM, ADBE, V, DHR, and more...
Play of the Day:  No P.O.D. for Friday - We're expecting a choppy, 
                  volatile, low-volume session.


*******************************************************************
MARKET WRAP  (view in courier font for table alignment)
*******************************************************************       
07-03-2002                High     Low     Volume     Adv/Decl
DJIA     9054.97 + 47.22  9070.89  8897.54 1540 mln   1215/1903
NASDAQ   1380.17 + 22.35  1380.38  1336.06 2629 mln   1492/1910
S&P 100   474.41 +  4.30   474.60   463.65   totals   2707/3813
S&P 500   953.99 +  5.90   954.30   934.87
RUS 2000  429.47 -  3.37   432.84   429.47
DJ TRANS 2596.76 - 23.12  2639.12  2568.18
VIX        33.37 -  0.32    35.35    32.89
VIXN       60.08 +  0.51    62.25    59.61
Put/Call Ratio      0.95
*******************************************************************


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

I once heard of an elderly couple who lived in the mountains.  
Apparently, they had to call the forest service to remove a bear 
that had become intoxicated from eating fermented berries from 
the native bushes near by!  Drunk bears, geesh.  The Stock 
Traders Almanac states that historically July has ONLY been down 
three times in the last 12 years.  However, the Almanac also 
states that July is the start of NASDAQ’s worst four months of 
the year and that July can be very unpleasant in a bear market.  
The bears ask, "Is it happy hour yet?"  On that note, perhaps the 
bears are not through feasting on the market, but are (I hate to 
be blatant) drunk after feasting on the fermented berries of 
investor worries.  

Speaking to traders on the floor of the Pacific Stock Exchange, 
sentiment is mixed to worried. According to Dennis Lanni, a 
market maker in AMAT and MU for TD Equity Options, many of the 
traders are starting to "look long while shorting volatility."  
Mr. Lanni also points out that floor traders are traditionally 
contrarian due to the nature of their order flow.  What does this 
mean to us?  Hold that thought for a moment.

Mr. Lanni also stated (and again I hate to be blunt), "I only 
know one trader on the floor who is b@!#$ out short."  

I’ll get back to that in a moment too.

NYSE volume totaled 1.54 billion shares with 1215 advancers and 
1903 decliners.  NASDAQ tipped 2.64 billion in overall volume, 
with a meager 1492 advancers under 1910 decliners.  Despite gains 
in the major indices, total breadth of the market remains 
bearish.  Overall the Dow closed up +47.22 at 9054.97, with the 
NASDAQ following with slight gain of +22.35 closing at 1380.17.  
Strong sectors for the day included: software, storage, 
semiconductors, wireless, telecom, and oil service.  Weak players 
in today’s markets were: biotech, Internet, drug manufactures, 
broker/dealers, networking, and defense.  

Economic reports for the holiday week have been mixed. 
Construction spending fell -0.7% from an expected 0.2%. 
Construction Spending is made up of three areas: residential, 
non-residential, and public expenditures on new construction.  
Because of the volatility in reporting regarding Construction 
spending, only a trend of three months or more could potentially 
create market impact. 

Truck sales beat estimates of 7.2M at 7.4M.  Auto sales were 
slightly down 0.2 to 5.8M from and expected 6.0M. Auto Sales 
account for approximately 25% of all consumer demand, so they are 
an important measurement of consumer sentiment.  Big ticker items 
like autos and truck are also interest rate sensitive, and make 
the automotive sector a leading indicator of business cycles.  

Factory orders increased 0.2% to 0.7%.  54% of the Factory Order 
equation is comprised of durable goods, and economists also use 
this number to calculate GDP.   Initial Jobless Claims fell to 
382,000 from 393,000 the previous week.  Employment Data is to be 
released on Friday.

The overall day finished positive on the boards with many 
publications mentioning the bears being fended off.  Most suspect 
the bounce was due to shorts covering positions ahead of the 
holiday but some believe bargain hunters were out in full force 
trying to capitalize on the discounted tech market.  Intel 
(NASDAQ:INTC) rebounded 6% off of a multi year low, with Sun 
Microsystems (NASDAQ:SUNW) also presenting a respectable 12% gain 
on earnings optimism.  On the other side of the pond, (NYSE:AMD) 
Advanced Micro Devices warned a second time saying second quarter 
sales could be as low as 600 million dollars.  Openwave 
(NASDAQ:OPWV) greatly missed its quarterly loss target by nearly 
twice Wall Street’s expectations, causing the stock to plummet 
58%.  OPWV predicted to fall short of earnings 17 to 22 cents.  

Looking ahead to Friday, we will see a half-day with many traders 
being absent.  Of course the Employment Data is a number to 
watch, though program trading volume might be more important.  
Holiday half days can be dangerous because of the anemic volume 
and sometimes lack of experience by assistants left to handle 
trading.  In the past there have been days when anemic volume 
gave way to program trading that was able to push certain stocks 
through resistance with relatively low volume.  This is most 
likely not going to happen however, watch volume and look for the 
programs to kick in.  

   
Chart of the U.S. Dollar
 



The above chart of the Greenback (dx00y) shows today’s rally with 
a close at 107.10. The dollar attempted to fill the window, which 
was created during the gap down last week.  Although it failed 
directly at resistance (the top of the window), a push above the 
107.40 area, will gain short-term support.  According to "The 
Handbook on Technical Analysis" by Darrell Jobman (1995 McGraw-
Hill), a gap of this type preludes a future move down.  The 
formula used to predict the future price is to find the total gap 
amount and subtract it from the bottom of the initial gap down.  
If this concept holds true, the dollar could see 104.30.  Time 
will tell.  This chart is a five day fifteen minute chart and 
shows all trend indicators currently mid-range.  Sounds about 
right for the day before the Fourth of July.     

Chart of the Japanese NIKKEI index vs. and its similarities to
the recent chart of the NASDAQ 100 index.




Despite the ugly, and hand drawn chart, it is accurate.  What 
this chart displays is the relationship between the NASDAQ 100 
and the Nikkei.  The Nikkei is graphed from January 1994 to June 
1995, and the NASDAQ 100 is from April 1994 to June 2002.  
Amazing resemblance isn’t it?  There have been more than a few 
comparisons recently to the deflation in the Japanese markets and 
economy and what could be happening here at home and the Nasdaq.  
If we are to look at the correction of the Nikkei, and 
potentially model it as a future pattern for our own correction, 
then well, the outlook for bulls and bears is sideways.  
Fortunately for U.S. investors, we have an active government 
agency the FOMC helping regulate interest rates and a corporate 
environment that is quick to discount flaws in the system.  Not 
to mention our banking sector is a relatively healthy compared to 
the banking system in Japan who is still suffering from non-
performing loans created during the Japanese bubble.

Back to Mr. Lanni.  I was amazed to hear the lack of certainty on 
the floor.  Even floor traders are being very protective of their 
positions.  I think the comments produced display a sincere lack 
of bravado by most traders to "stake it all".   Why would you 
want to gamble with so much uncertainty?  With today’s mixed bag 
of happenings, Friday could go either way.  I think I would lean 
towards more short covering to produce modest gains in a 
substantial down trend, especially if the fourth of July is 
uneventful in regards to terrorist activities.  When I asked Mr. 
Lanni about the expected attendance of floor traders on Friday, 
his reply was: "depends on the drink specials down the street."  
He may have a plan.  Taking the day off and spending time with 
our families seems like a good idea.  Although the staff at 
PremierInvestor.net will be here on Friday for those who just 
can't stop watching the markets.  Just remember the markets close 
early on Friday.

More importantly, take time to say thank you to the next veteran 
or active-duty armed forces you run into or meet as we celebrate 
our independence.  This is still the greatest country in the 
world and we owe it all to those willing to protect our freedoms.

- Mark W.
 


==================================================================
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
---------------------------------

Watson Wyatt Co. - WW - close: 22.74 change: -0.07 

WHAT TO WATCH: Watson Wyatt has been in a broad sideways 
consolidation since May 15th, trading consistently between its 
declining 50-dma and its flat 200-dma.  This triangular pattern 
is now on the verge of breaking down; the daily RSI has now 
broken its upward trend line and this portends a similar break in 
price, below $22.20.  Traders could short on a break below this 
level, looking for a decline to the 61.8% retracement ($19.50) of 
its Sept. 2001 - April 2002 advance.  A buy stop placed above the 
50-dma, at about 24.30, would be important.




---

International Bus. Machines - IBM - close: 70.51 change: +1.93 

WHAT TO WATCH: IBM has been in a short-term consolidation since 
June 21.  Our momentum indicators suggest that it may rebound to 
resistance, just under $73.50. If it turns down at this level, 
traders should then watch for IBM to trade lower, eventually 
breaking below the lower boundary of its consolidation.  
Aggressive traders might short the stock on a failed rally near 
$73.50.  Less aggressive traders may wish to simply short once it 
breaks the lower boundary of its consolidation, at $67.31.  




---

ADC Telecommunications - ADCT - close: 2.24 change: +0.17 

WHAT TO WATCH: ADCT has now formed a dangerous two-week wedge at 
the bottom of its May 17th - June 21st steep decline.  The daily 
trading range in a wedge is effectively squeezed tighter until 
prices explode out of the wedge, one way or the other.  Volume 
has been declining as this upwardly trending wedge has formed, 
and this is a bearish indication to us.  With the telecom sector 
horrifically weak, we think ADCT will break down in coming days. 
Aggressive traders may want to short the stock on a break below 
the lower boundary of the wedge, at $2.01.  Since the stock may 
have psychological support at this depressed price level, It 
might make sense to short it below, for example, the $1.95 level.  
Since triangles/wedges can reverse sharply, a buy stop placed 
back inside the wedge, at about $2.15, would be appropriate.




---

Clorox Company - CLX - close: 41.11 change: -0.06 

WHAT TO WATCH: After declining from a high of $47.72 on June 10th 
to a short term low of $40.60 on June 26th, CLX moved into a 
small sideways consolidation that has taken place on either side 
of CLX's 200-dma.  It appears to us that CLX will fail in its bid 
to successfully move back above the 200-dma; as such, this stock 
appears to be an attractive short on a decline below today's low 
of $40.35.  Buy stops should be placed above resistance, and the 
200-dma, at about $42.75.  The decline that takes place in the 
stock should retrace 61.8% of the stock's December 2000 - May 
2002 advance.  This means a decline to $36.00 is likely in coming 
weeks if CLX breaks down as we expect.




---

Adobe Systems - ADBE - close: 27.04 change: +0.63 

WHAT TO WATCH: Since June 20th, Adobe has been building a small 
consolidation well below both its 200-dma and 50-dma.  With 
Soundview Technology's June 26th "Neutral" rating on ADBE--hardly 
a massive vote of confidence--the stock's performance has 
continued to be lackluster--until yesterday.  That's when the 
stock began to fall out of its consolidation.  Technicals on the 
stock are mixed--the RSI is attempting to rise out of its 
oversold condition--but we still think there is a good chance 
that more weakness will hit ADBE.  With an estimate of a decline 
to less than $19.00, we think this stock could offer an 
attractive shorting opportunity.  Traders should short on a move 
below yesterday's low ($25.46).  It may be a few days before this 
level is hit, since ADBE is likely to rebound to the $27.50 - 
$28.50 region before it breaks the lower boundary of its 
consolidation.




---

Burlington Resources - BR - close: 37.94 change: +0.52 

WHAT TO WATCH: Beginning in early March, BR embarked on the 
formation of a longer term head and shoulders pattern that has 
formed along its 200-dma.  Although this pattern has not yet 
broken down, it is very close.  A move below $36.40 begins this 
breakdown, and traders may want to short the stock if this 
occurs.  Using the standard "neck line to peak" rule of thumb for 
calculating the distance a breakdown might travel, we're left 
with an $8.00 decline from the neck line--or a move to the $29 - 
$30 region.  It is important to remember that not all head and 
shoulder patterns break down, since they are also triangular 
consolidations formed off of an advance--and this pattern has 
bullish implications. Short positions should be accompanied by a 
reasonable buy stop, probably placed above resistance and the 
200-dma, near the $39.50 level.




---

Danaher Corporation - DHR - close: 62.39 change: -1.56 

WHAT TO WATCH: We shorted DHR a few weeks ago and we think the 
stock is nearly ready for another move downward.  It is currently 
sitting on a broad but short consolidation that has been in place 
for the last 3 weeks.  Prices have been well below a declining 
50-dma, and today the stock finished under it's 200-dma.  
Yesterday, the daily RSI broke the rising trend line that it 
established during this consolidation; prices nudged just below 
their trend line today.  Volume spike upward today on this trend 
break, and we think that is a bearish omen for coming days.  DHR 
is a short below today's low ($61.80).  A stop placed just above 
the 200-dma, and resistance, at about 65.25 would be important.  
A decline to the 61.8% retracement (Sept. 2001 - April 2002 
advance), and major support at about $56.00, is our estimate of 
the likely decline.




---

Reuters Group PLC - RTRSY - close: 31.80 change: +0.30 

WHAT TO WATCH: Reuters has been trading sideways since June 20th, 
and the stock looks like it might go either way on a breakout.  
Above $33.25 traders may want to go long this stock, since it 
moves into an upward "fast move region" and gap, that could take 
it up to nearly $36.00. The flip side of the coin is that a move 
below today's low of $30.60 starts another decline, and traders 
should probably be short at that point.




---
 
Merrill Lynch - MER - close: 37.75 change: +0.50

WHAT TO WATCH: "Ugly" is pretty much the only adjective one can 
use to describe the bar chart for MER.  The stock's been 
downtrending since March and is on course for a retest of its 
September low at $33.50.  The bearish MACD and downtrending daily 
stochastics (5,3,3) indicate that MER has not yet reached 
oversold levels.  Short entries can be evaluated on a break under 
recent support at $36.50.


 

--- 

Vivendi Universal - V - close: 15.66 change: -2.10

WHAT TO WATCH: We'll spare you the gory details of Vivendi's 
recent slide, but accounting concerns and boardroom shakeups have 
definitely taken their toll.  Fundamental weakness 
notwithstanding, we think V could be due for an oversold 
bounce...Or a "V-bottom," if you will.  The stock is currently 
trading near the bottom of the descending regression channel 
that's dictated trading for most of 2002.  Shares successfully 
tested this level today when they rebounded from an intraday low 
of $13.40.  The high volume behind today's move indicates that we 
may have seen a near-term capitulation.  Aggressive traders could 
target entries on a move above today's high of $15.80.  We'd be 
looking for a short-covering rally to take V back to the $20 
level.  Take note, however, that only speculative capital should 
be used in such a trade.  Additional negative news stories could 
quickly plunge V to new all-time lows.





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

No Play-of-the-Day for Friday - We're expecting a choppy, 
volatile, low-volume session.




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To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

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

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

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Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

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




PremierInvestor.net Newsletter                Wednesday 07-03-2002
                                                   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/g03b_2.asp
=================================================================

In section two:

Net Bulls
  Closed Bearish Plays:  FDC

Active Trader Non-Tech Stocks
  Stop Adjustments:      GR (bearish)
  Triggered Plays:       FLR, XL (bearish)
  Closed Bullish Plays:  SPF
  Closed Bearish Plays:  CBE

High Risk/Reward
  Closed Bearish Plays:  PLCM, PPL



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

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

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

First Data Corp - FDC - cls: 36.29 chg: +0.38 stop: 36.65

FDC continued its losing ways this morning and came within just 
25 cents of our profit-target at $34.30.  This must've really 
worn out the bears, because they decided to take the rest of the 
day off!  Shares marched steadily higher for the remainder of the 
session and finished in positive territory.  Our play was stopped 
out for a 3.7% gain when FDC violated our stop at $36.65.  

Today's rally was impressive, but we're rather dubious about its 
sustainability.  The stock is still in multi-week downtrend and 
faces overhead resistance at $38.00 and the 200-dma at $38.30.  
FDC may once again present itself as a short candidate if it 
rolls over from this region.

Picked on June 24th at $38.09
Gain since picked:      +1.44
Earnings Date        07/11/02 (confirmed)






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

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

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

Goodrich Corp - GR - close: 25.02 change: -0.75 stop: 26.06 *new*

GR missed our exit target of $24.16 by just 15 cents today.  
Shares rebounded with the broader market in afternoon trading, 
albeit not as strongly as many other stocks.  If today's reversal 
is the beginning of a more powerful rally, we have no desire to 
see our hard-fought gains turn into losses.  Thus, we're going to 
move our stop down to $26.06, slightly above today's high.  More 
conservative traders can protect a 5% gain by placing a stop at 
$25.61.  Interestingly, since early June GR has had a tendency to 
rally back to previous resistance after setting a new relative 
low.  If this pattern continues we'd expect the $26 level to 
provide resistance, as was the case early this morning.





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

Fluor Corp. - FLR - close: 35.45 change: -1.01 stop: 37.36

This short play was activated on Wednesday morning when FLR hit 
our entry trigger at $35.94.  FLR rallied with the Dow Jones 
during the latter part of the session but still posted its lowest 
close since February.  This suggests to us that there may be more 
downside ahead, especially if the market sells off on Friday.  
New entries can be considered on a break under today's low of 
$33.19 or a failed rally near $36.00.  Our stop is located at 
$37.36.




---

XL Capital - XL - close: 81.30 change: -0.31 stop: 85.02

Shares of XL moved lower with the broader market this morning.  
Our short play was triggered at $80.89 when the stock slipped 
below Tuesday's low.  A late-day rally was not enough to bring XL 
into positive territory, let alone challenge the Tuesday 
afternoon high near $82.00.  Aggressive traders still looking to 
get short can watch for a rollover near this region, while others 
may want to wait for a break under today's low of $79.75.  A 
close under this level would probably lead us to tighten our 
stop-loss, which is currently set at $85.02.




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

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

Standard Pacific - SPF - close: 32.45 change: +0.15 stop: 31.70 

Owing to its recent reversal and weak technical indicators, we 
were anticipating last night that SPF would see more selling in 
the near-term.  That was the case today, as shares moved lower in 
tandem with the DJUSHB home construction index.  Our play was 
closed when the stock violated our stop-loss at $31.70.  This 
represents a loss of 10.4% from our original entry point.  In 
hindsight, SPF fell victim to weakness in the homebuilding 
sector.  The DJUSHB weathered two days of selling and may be 
gravitating to the June lows near 340.  Although the index 
recouped most of its losses by the close, the bearish MACD 
oscillator is hinting at further weakness in the near future.  
SPF is displaying a similar MACD crossover and may eventually 
test the $28-$30 region.  Bulls can take heart in the fact that 
SPF staged an impressive reversal today and actually finished 
with a gain, but considering that shares are still under the 50-
dma ($33.16), we would not recommend any long positions at this 
time.  Aggressive traders may want to take note that the longer-
term bullish trend for SPF has not changed and the stock appears 
to be out-performing the sector index.  Despite our own desire to 
avoid SPF for the time being, if the Dow Industrials rally next 
week, SPF looks poised to rally strongly with them.

Picked on July 1st at $35.41
Change since picked:   -3.71
Earnings Date       07/23/02 (unconfirmed)




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

Cooper Ind. - CBE - close: 36.68 change: -1.03 stop: 39.44

We wish stocks always cooperated this nicely!  Last night we set 
an official profit-target for CBE at $36.01.  Our play was closed 
for a 9.5% gain when shares reached that level today, which 
happened to also be the stock's intraday low.  This price action 
illustrates why we usually place action points one or two cents 
above/below whole numbers.

Could CBE eventually reach the January lows near $30?  
Absolutely.  However, the bears will have to contend with 
substantial congestion between $34-$36.  Traders still short on 
CBE should consider challenging the stock with a very tight stop-
loss.  A short-covering bounce could materialize if the bears are 
once again unable to push CBE below $36.00.  We wouldn't be 
surprised to see CBE rally back to the $37.50 or $38.00 level and 
close the gap from this morning's move.

Picked on June 24th at $39.81
Gain since picked:      +3.80
Earnings Date        04/23/02 (confirmed)
 





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

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

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

Polycom - PLCM - cls: 10.50 change: -0.40 stop: *see text*

As we had expected, PLCM gapped sharply lower this morning.  
Investors were not pleased with last night's announcement that 
the company was expecting net income of only 6-7 cents/share for 
Q2, compared to the Wall Street estimate of 20 cents.  In light 
of this news, we implemented the following exit strategy:

"...our stop will be placed $0.35 above the opening price.  If 
the stock trades down, as we expect, our trailing stop will be 
lowered as well, being $0.35 above the lowest intraday price."

PLCM opened at $8.62 and proceeded to set an intraday low of 
$8.50.  This resulted in our stop being set at $8.85.  Shares 
reached this level during a powerful early-morning rally, at 
which point our play was closed for a gain of 25%.  Frankly, 
we're surprised that PLCM rallied back to the $10.00 region.  
There wasn't any positive news to explain the morning rally.  As 
a matter of fact, both Morgan Stanley and Pacific Growth Equities 
came out with bearish comments during the trading day.  We 
suspect that the move higher was simply a result of massive 
short-covering.  Aggressive traders can consider shorting PLCM 
again if it falls back below $10.00 or on a failed rally between 
$10.75 and $11.00, which is might do as it will have filled the 
gap from this morning.

Picked on June 27th at $11.80 
Change since picked:    +2.95
Earnings Date        07/18/02 (unconfirmed)
 



--- 

PPL Corp - PPL - close: 32.06 change: +0.20 stop: 32.40 

Last night we tightened our stop in PPL to $32.40.  This level 
was eclipsed during a sharp spike higher during the first half-
hour of trading on Wednesday, and play was closed for a loss of 
2.5%.  Although PPL may eventually suffer the sort of breakdown 
that we had hoped for, the bears will have to contend with 
psychological support at $30 and the June lows near $29.  A close 
above PPL's descending trendline (dating back to late April) 
would be decidedly bullish.

Picked on June 19th at $31.60 
Gain since picked:      -0.80
Earnings Date         7/18/02 (unconfirmed)







=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

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

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************


Copyright ) 2001  PremierInvestor.net. and
The Premier Investor Network.
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DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

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Littleton, CO 80163

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