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Daily Newsletter, Monday, 07/08/2002

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PremierInvestor.net Newsletter                 Monday 07-08-2002
                                                  section 1 of 2
Copyright © 2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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

Market Wrap:      Based Upon the Advice Of Counsel
Watch List:       AYE, ESRX, KO, NVDA, NOK, LLL, and more...
Play of the Day:  Check It Out

******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
      07-08-2002          High     Low     Volume Advance/Decline
DJIA     9274.90 -104.60  9410.38  9240.36  1.17 bln   1326/1890
NASDAQ   1405.61 - 42.75  1452.56  1401.28  1.70 bln   1276/2146
S&P 100   486.29 -  6.37   495.03   483.91   Totals    2602/4036
S&P 500   976.98 - 12.05   993.56   972.91             
RUS 2000  433.61 -  7.31   441.55   433.36
DJ TRANS 2615.79 - 36.85  2669.04  2614.14
VIX        31.39 +  1.18    32.68    30.79
VXN        58.61 +  2.33    60.13    56.66
TRIN        1.19
PUT/CALL    1.02
******************************************************************


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

Based upon the advice of counsel

Based upon the advice of counsel, I would like to exercise my 
Fifth Amendment, constitutional right.  Given the events with 
WorldCom today, T.V. watchers heard a lot of this.   

The simple facts:  On this weak Monday, the Dow closed down 
-104.60 at 9274.90, followed by the S&P 500 at 976.98, dropping 
-12.05.  The NASDAQ fell -42.75 to 1405.61, and we viewed a 
concentrated drop in the NASDAQ 100, which fumbled -46.56 or 
-4.38% to 1014.33.  Strong sectors du jour included: gold, 
casinos, and tobacco.  Today’s decline was fueled by the carnival 
sideshow of WorldCom’s (WCOME) house hearings, Merck’s accounting 
debacle, weakness in the dollar, an earnings warning by Allegheny 
Energy (NYSE:AYE) and a poor earnings performance by Alcoa (NYSE: 
AA).  Can I plead the fifth yet?  NYSE advancers were 1326, 
compared to 1819 decliners.  Nasdaq had 1276 advancers and a 
almost double 2146 decliners.  Most of the gains in the 
Semiconductor Index made on Friday were given back with a drop of 
-17.82 in the $SOX today.      

Chart of: Nasdaq 15 minute





The above chart of the Nasdaq shows today’s selling.  
Psychological and very short-term trading technical support sits 
at 1400, which was not broken today.  The low of the day was a 
scary 1401.28, with the close just slightly above it.  However, 
even though the index pulled back, there is a technical point 
here.  For the sake of protocol, all numbers are rounded.  To 
begin, the Nasdaq closed at 1380 last Wednesday, and then rallied 
(gap included) to 1450 on Friday.  Today’s pull back closed at 
1406.  Including the gap, the total three day move was +70 
points; and today’s pullback was -44 points.  The total 
percentage pullback for the move equals 63%.  Traditional 
Fibonacci investors could interpret this move as a SHORT TERM 
bullish pullback near 61.8%, almost right on the money.  

Unfortunately, the other side of this coin is the short-term 
channel we have been trading in since the middle of May.  We have 
tested the upper resistance of this channel four times without 
success, allowing bears to re-short their positions.  I would 
also like to point out that the last two times the Nasdaq tested 
the upper channel resistance, it rallied the first two days, 
stalled on the third, and then failed on the fourth... Oh, wait, 
tomorrow will be the fourth day in the same type of pattern.  The 
only difference between this attempt at resistance and the 
previous two attempts, is the preceding two rally’s third day 
closed flat and positive.  We closed negative... Uh oh!  

Hold the presses!  This is actually a rare candlestick pattern 
called a Tasuki gap, and it is a Bullish continuation pattern!  
Really, I’m not making this stuff up as I go!  So, we have a bit 
of a technical gamble, but the house odds are pointing to a SHORT 
TERM bounce.  In English, the short-term technical analysis 
(excluding that we are at the TOP of the channel) points to a 
short-term dead cat bounce.  Keep in mind, that this is pure 
technical analysis on the Nasdaq chart only!  We don’t want to 
get suckered into a short covering rally, so let’s look for more 
information.

Chart of: Nasdaq daily, short-term channel
          Beginning in May.





Simply looking at the S&P 500, we see the descending channel with 
the most recent rally stumbling directly at short-term 
resistance.  

Chart of: S&P 500 (SPX.X) Daily.





Today’s failure indicates a short covering rally in the S&P 500, 
where the bears now have a chance to re-short their positions.  


Although the Market Volatility Index (CBOE - VIX.X) is trading in 
the upper portion of it’s range, it can still easily go higher.  
Since 2000, the VIX has traded above 36 five times.  The First 
was in April of 2000, followed by November and December.  Then in 
2001: March and April, with September 17th ensuing of course. 
Just for the sake of mentioning it, don’t forget that the VIX.X 
has an inverse relationship to the market.  Traditionally, 
technicians that follow the VIX note that extremes near 20 
"usually" indicate a potential short-term top is nearby (and it's 
time to get out) and extremes near or above 30 indicate a short-
term bottom is at hand (and it's time to get in).  Analyzing the 
"fear" index, as some call it, has never been an exact science.  
As you can see from chart of the VIX, it has been trading near 20 
for months before its recent June-rally to above 30 and we have 
yet to see the "bottom" yet.  Although many investors are hoping 
last Wednesday's low was "it".  

On a more positive note, the Dow Jones Transportation Average 
Index (TRAN), is attempting to hold support at the 2600 area.  We 
have observed for a few weeks now that the TRAN is consolidating 
sideways in a channel.  Currently the top of the channel is 
between 2750 and 2775.  This sector could rally right back to 
this level only to roll over again. Only when the Transports can 
demonstrate a confident move over the 2800 level will the market 
take notice.

President Bush made comments on corporate corruption and 
accountability.  He stated that the US government will 
"vigorously pursue" corrupt corporations and CEO’s.  Would 
knowing a CEO could go to jail for fudging revenue make you feel 
more comfortable about putting your hard earned money behind 
their company?  This is a sentiment booster for the market but 
it has yet to take affect.

Speaking of potential jail time... Merck (NYSE:MRK) booked 
revenue never collected to the tune of $12.4 billion.  The Wall 
Street Journal reported that the company included co-payments 
received by pharmacies in its income statements, even though it 
never actually collected the money!!?  What happens if I include 
Merck’s revenue in my checking account balance?  The bank won’t 
mind right?  We're shocked that the stock only lost 2% on the 
day's session but volume was very strong at 18.9M shares.  We 
would be wary of its relative strength today!  

Tomorrow, President Bush Remarks on corporate governance and the 
CIBC Consumer Growth Conference is hosted in Boston.  The 
Schedule for the conference is:

08:15 ET - BBY  - FOSL - STEI
08:50 ET - LTD  - GES  - BKST
09:25 ET - PETC - OAKT - AWGI
10:00 ET - PSUN - SBUX - CHBS
10:35 ET - SKX  - WEN  - DEBS
11:10 ET - CHCS - NLS  - IRN
11:45 ET - BGP  - FLWS - FINL
12:20 ET - TLB
13:45 ET - YUM  - ALOY
14:20 ET - PNRA - SRV
14:55 ET - CHRS - CPKI
15:30 ET - DLIA - SONC
16:05 ET - ZQK  - ULTE
16:40 ET - JAH

Occasionally conferences can generate buying/selling momentum in 
equities, either by analysts, fund managers, or traders who are 
in attendance.

After hours, Sears (NYSE:S) filed $9.5 billion debt shelf.  The 
proceeds of this debt filing are to be used to reduce short-term 
debt.  

So, the key to the market is... Playing it safe one could trade 
the old cliché "the trend is your friend", by using this short 
covering rally to get short in the next leg down.  Or, if one 
were to be a more SHORT TERM trader with an aggressive contrarian 
attitude, a long bet could be attempted.  The key is in the 
descending resistance in the current channel.  Shorts cover a 
breakout, longs set such a small stop loss that the gamble will 
never be thought of as more than that: a gamble. 

When in doubt the best bet is usually to sit out.

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

Allegheny Energy - AYE - close: 23.95 change: -2.14

WHAT TO WATCH: Aye, aye, aye!  This energy stock hit a new 52-
week low today after the company reduced guidance for 2002.  
Volume backing the 8.2% decline was a brisk 3.1M - more than 
three times the daily average.  Shares are in danger of falling 
below the all-time low of $23.62.  A break below this level could 
quickly take AYE to psychological support at the $20 level.  The 
stock has fallen dramatically in recent months and is technically 
extremely oversold.  But as Enron, DYN, and WMB have shown, the 
floor's the limit when it comes to energy stocks.




---

Express Scripts - ESRX - close: 48.97 change: +0.25

WHAT TO WATCH: ESRX was among the handful of NASDAQ-100 stocks 
that finished today's session with a gain.  Shares have been 
behaving bullishly since bouncing from historical support near 
$45 last week.  The stock tagged an intraday high of $50.35, 
above both psychological resistance at $50.00 and the 200-dma at 
$50.02.  ESRX pulled back in afternoon trading but nonetheless 
left us with a clearly-defined action point.  A move above 
today's high could clear the way for a test of the 50-dma near 
$54.  This level coincides with bearish resistance on the p-n-f 
chart.  The daily stochastics (5,3,3) are shooting higher from 
the oversold region, indicating potential upside ahead.  
Alternatively, one could argue this is just a bounce and Monday's 
action was just a failed rally at resistance and another 
opportunity to get short.  A break below $45 could lead the way 
for a test of $40.


 

--- 

Coca Cola - KO - close: 57.28 change: +1.48

WHAT TO WATCH: Coca Cola's introduction of "New Coke" in the mid-
eighties will go down as one of the worst marketing disasters of 
all time.  If the stock price is any indication, the response to 
the company's new Vanilla Coke product seems to be much more 
positive.  KO has been trending higher over the past month and is 
currently approaching the 52-week high near $58.  Bullish 
positions could be targeted on an intraday move above this level, 
which would create a double-top p-n-f buy signal.  More 
conservative or longer-term traders may want to wait for a close 
above $58.00.  On a related note, it's interesting to see that 
PEP has been declining in recent weeks.  This divergence is 
encouraging for KO bulls.  Note that the company announces 
earnings on July 17th.




--- 

NVIDIA Corp - NVDA - close: 19.56 change: +0.57

WHAT TO WATCH: NVDA staged a powerful rebound last week near the 
bottom of its descending regression channel.  However, shares now 
face resistance at the psychologically important $20.00 level.  
This resistance was confirmed today when NVDA pulled back from an 
intraday high of $20.24.  A break above that level could create 
another round of short covering that takes NVDA to the $25 
region.  Technically, odds appear weighted in the bulls' favor.  
The stock demonstrated impressive relative strength today when it 
outperformed the SOX.X by more than 7%.  The uptrending MACD 
(it's on the verge of a bullish crossover) and daily stochastics 
(5,3,3) also bode well for a continued advance.


 

--- 

Phelps Dodge - PD - close: 41.83 change: +0.13

WHAT TO WATCH: Mirroring a similar uptrend in copper futures 
(HG02N), shares of PD have moved steadily higher over the past 
two months.  That's pretty impressive when you consider that the 
cyclical index (CYC.X) trended lower during the same time period.  
The stock is now approaching the 52-week high at $42.51.  Traders 
can evaluate entries on a move above this level.  The recent 
relative strength and fresh double-top point-and-figure breakout 
suggest shares could continue higher in the near future.  Note 
that PD tends to be a relatively slow mover and is thus more 
tailored towards longer-term strategies.


 

--- 

Polaris Industries - PII - close: 67.15 change: +1.65

WHAT TO WATCH: Shares of this ATV and snowmobile manufacturer 
have rallied sharply since bouncing near the 200-dma at $59.72 
and the $60 support level.  Today's 2.5% gain in the face of a 
triple-digit Dow Jones decline suggests that the bulls are 
currently in control (or bears are still running scared).  The 
upward hook in the MACD and the bullish reversal in the daily 
stochastic oscillators support this view.  Short-term traders 
could target entries on a break above near-term resistance at 
$67.50 but watch out for resistance between the 50-dma at $70.52 
and overhead horizontal resistance near $74.00.


 

--- 

L-3 Communications - LLL - close: 49.05 change: -1.70

WHAT TO WATCH: We came very close to adding LLL to the bearish 
play list today.  The stock has failed three times in the last 
three days at the 200-dma near $52.00.  Plus, this is the second 
close under the $50 mark in the last three days as well.  The 
company is in the communications equipment sector, which has not 
been a very safe area for bulls, but LLL has been able to avoid 
most of the first quarter sell-off.  This was likely due to its 
defensive contract wins and appearance as a possible 
homeland/wartime defense play (compare a chart of LLL with the 
DFX.X or the DFI.X).  Meanwhile, when these sectors topped out in 
May, so did LLL.  The stock saw a lot of volume in late June when 
the company came out with news it would be selling 14M shares to 
raise cash.  There is some potential support between $48 and $49 
from last October and shares have bounced here twice in the last 
three days.  A move under the recent lows could be a potential 
trigger to go short and capture a move towards the PnF chart's 
vertical count near $42.  Watch out for any support near $45 if 
you go short.  Something else to consider is how will the market 
react to the news that Buffett is making investments in beaten 
down telecom and communication equipment bonds like he did with 
LVLT.  Will there be a splash over affect in LLL or will LLL just 
keep tumbling?


 

--- 

Nokia Corp - NOK - close: 14.50 change: -0.64

WHAT TO WATCH: We had NOK on the weekend watch list because the 
stock and the group had shown some unbelievable strength for its 
sector.  The stock had gapped up strongly on Friday's big rally 
and it looked like it could go either way.  Well, today's 
candlestick pattern, a bearish engulfing candlestick, appears to 
be pointing for a pull back of recent gains.  Unfortunately, with 
potential support at the 50-dma (14.25) and price support between 
$13.00 and $13.50, NOK isn't offering us a lot of room to really 
plan a strong risk-reward scenario for a bearish play.  More 
adventurous traders can try their luck but we're going to keep it 
on the Watch List.  On the other hand a bounce at $13.00 might be 
an interesting opportunity for a bullish trade.


 


=========================
Play-of-the-Day (BEARISH)
=========================

Check Point - CHKP - close: 13.84 change: -0.42 stop: 15.06

Company Description:
Check Point Software Technologies is the worldwide leader in 
securing the Internet. It is the confirmed market leader of both 
the worldwide VPN and firewall markets. The company's Secure 
Virtual Network (SVN) architecture provides the VPN and security 
infrastructure that uniquely enables secure and reliable Internet 
communications. SVN solutions, as delivered in the company's Next 
Generation product family, secure business communications and 
resources for corporate networks, remote employees, branch 
offices and partner extranets. (source: company press release)




- ORIGINAL WRITE UP: July 5th, 2002 -

Why We Like It: 
They say a rising tide lifts all boats, and that certainly seemed 
to be the case today.  To wit: Only one stock in the NASDAQ-100 
finished in the red today.  That stock was CHKP, which stood out 
on our screens like a giant swollen sore thumb.  CHKP hit a new 
multi-year low on Tuesday, July 2nd after J.P. Morgan downgraded 
the stock.  The bears finally relented after taking it as low as 
$10.37, and shares actually finished the session with a gain.  
CHKP continued higher on Wednesday despite having its earnings 
estimates cut by Salomon Smith Barney.  Although bulls can point 
to the strong volume during these sessions, we believe this was 
simply a function of shorts running for the exits with profits in 
their hands.  One would think that any real buying would've 
carried over into today's session.  Today's blatant display of 
relative weakness suggests that there ARE no willing buyers at 
these levels.  It might've been understandable to see CHKP finish 
with a loss if there was some tidbit of negative company or 
sector news, but the bulls have no such excuse.  The GSO.X 
software index traded higher by nearly 5% on Friday and there was 
no news to speak of on CHKP.  Speaking of the GSO, it's come 
right back to the midline of its descending channel.  This level 
has acted as resistance since mid-May.

In light of its underperformance, we're expecting CHKP to trade 
sharply lower if/when the NASDAQ reverses course next week.  
Specifically, we're looking for a near-term decline to the $12 
level.  More optimistic bears could be targeting a retest of 
Tuesday's low, but we'll be satisfied with a dip to our official 
exit price of $12.06.  Due to the possibility that today's tech 
rally could extend into Monday's session, we're not willing to 
play CHKP at current levels.  Instead, we'll wait for shares to 
fall below $14.00 before entering the play.  If triggered, we'll 
use a stop at $15.06.  If shares can move above today's high 
($14.87), they'll still have to contend with psychological 
resistance at $15.00.


- Play-of-the-Day Comments: July 8th, 2002 -

Given the inability of CHKP to rally on Friday, it wasn't 
surprising to see shares follow the NASDAQ lower during today's 
session.  Our short play was activated shortly after 1:00 when 
the stock reached $13.99.  The close near the lows of the day 
bodes well for a continued decline on Tuesday.  CHKP bears have 
also got to be pleased with the action in the broader software 
group: The GSO.X software index rolled over from its two-day 
rally and looks to be headed for another test of recent support 
near 100.  A break under this level would be extremely bearish 
for the software sector.  Traders still looking to short CHKP may 
want to wait for a failed rally near $14.00 or a decline below 
$13.50.  Remember that our stop is located at $15.06 and our 
official exit price is currently $12.06.  

Picked on July 8th at $13.99
Gain since picked:     +0.15
Earnings Date        7/18/02 (confirmed)







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To stop receiving this PremierInvestor.net Newsletter,
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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
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.
Do not duplicate or redistribute in any form.




PremierInvestor.net Newsletter                  Monday 07-08-2002
                                                   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/g08b_2.asp
=================================================================

In section two:

High Risk/Reward
  Triggered Plays:       CHKP (bearish)
  Closed Bullish Plays:  GENZ

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)



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

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

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

Check Point - CHKP - close: 13.84 change: -0.42 stop: 15.06

Given the inability of CHKP to rally on Friday, it wasn't 
surprising to see shares follow the NASDAQ lower during today's 
session.  Our short play was activated shortly after 1:00 when 
the stock reached $13.99.  The close near the lows of the day 
bodes well for a continued decline on Tuesday.  Traders still 
looking to get short may want to wait for a failed rally near 
$14.00 or a decline below $13.50.  Remember that our stop is 
located at $15.06.
 




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

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

Genzyme Corp - GENZ - close: 19.58 change: -0.29 stop: 18.33

GENZ spiked higher on Monday morning and quickly reached our 
entry trigger at $20.36.  Trading was somewhat calm until 1:45, 
when news hit the wires that TKTX (Genzyme's competitor) had 
released a date for the FDA's panel review of its application for 
the drug Replagel.  This created a knee-jerk reaction that had 
investors bailing out of GENZ in droves.  Our play was stopped 
out for a 10% loss when the stock violated our stop at $18.33.  
Shortly thereafter the stock turned on a dime and rebounded 
sharply after GENZ announced that an FDA panel will review its 
own Fabrazyme license application on September 26th, a day before 
the TKTX review.  Shares briefly moved above the $21.00 level 
(this created a double-top buy signal on the point-and-figure 
chart) before declining into the close.

No doubt about it, these developments are extremely frustrating.  
Had the GENZ news hit the wires first, we'd likely still be in 
this play.  Today's action illustrates why only high-risk capital 
should be used when trading biotech stocks.  Traders who are 
still long on GENZ should be watching for a break above today's 
high at $21.50.  The stock still looks technically well-
positioned to fill in the large gap from June 20th.

Picked on July 8th at $20.36
Gain since picked:     -2.03
Earnings Date       07/17/02 (confirmed) 





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

TOT     Total Fina Elf Sa          82.93     +1.43
E       Eni Spa Ads                82.11     +1.51
BTY     British Telecom            39.62     +0.76
LAF     Lafarge North America Inc  33.66     +0.54
BN      Banta Corp                 34.47     +0.71
FBC     Flagstar Bancorp Inc       22.34     +0.88

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

DOCC    Docucorp Intl. Inc         11.36     +1.34

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

     .. none ..          

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

WAT     Waters Corp                22.42     -2.84
AYE     Allegheny Energy Inc       23.95     -2.08
PP      Prentiss Properties        29.30     -1.15

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

LSTR    Landstar System Inc       106.31     -2.69
QCBC    Quaker City Bancorp        32.54     -1.19
HRBT    Hudson River Bancorp       25.50     -0.86




=================================================================
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.
Do not duplicate or redistribute in any form.

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.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

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