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Daily Newsletter, Friday, 07/12/2002

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PremierInvestor.net Newsletter          Weekend Edition 07-12-2002
                                                    section 1 of 3
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In section one:

Market Wrap:      Lets Put Some Lipstick On This Pig 
Play-of-the-Day:  Hang Over
Watch List:       The RADAR Is FULL
Market Sentiment: You Know the Feeling


******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
        WE 7-12          WE 7-05          WE 6-28          WE 6-21    
DOW     8684.53 -694.97  9379.50 +136.24  9243.26 - 10.53  -220.42    
Nasdaq  1373.50 - 74.86  1448.36 - 16.58  1464.96 + 24.01  - 63.79   
S&P-100  458.91 - 33.75   492.66 +  2.54   490.12 +   .70  - 12.34   
S&P-500  921.39 - 67.64   989.03 -   .79   989.82 +   .69  - 18.14   
W5000   8711.50 -601.90  9313.40 - 70.63  9384.03 -  5.95  -159.74   
RUT      413.28 - 27.64   440.92 - 21.74   462.66 +  1.59  +  2.00   
TRAN    2480.14 -172.50  2652.64 - 77.68  2730.32 - 25.32  + 82.50   
VIX       38.33 +  8.12    30.21 +  1.08    29.13 -  2.15  +  1.35   
VXN       66.00 +  9.72    56.28 -  1.67    57.95 -  1.35  +  3.63 
TRIN       0.89             0.28             1.18             2.01  
Put/Call   0.64              .77              .66             1.27  
******************************************************************


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

Lets Put Some Lipstick On This Pig.

The week in recap has been one of unsteady market sentiment.  
During the week we saw hope and fear, both on extreme ends of the 
psychological spectrum.  Investors are growing frustrated with 
the continued attempt to find a market bottom, only to see the 
market sell off time and time again.  The bears have succeeded 
temporarily in roping the bulls.  

Economic numbers for the week were mostly positive, though today 
yielded a drop in the July Michigan Consumer Sentiment numbers.  
The Sentiment number dropped -5.9 points, or -6.4% to 86.5.  
After September 11th, Consumer Sentiment numbers had originally 
risen, as we saw lower gas prices, positive American 
nationalistic jingoism, and consumer friendly auto purchasing 
programs.  Unfortunately, over the last few months, we have 
watched the economy stir with scandals, layoffs, and in general, 
continued slowing.  The consumer is once again starting to think 
twice before splurging on un-needed items.  

Ironically, the Retail Sales numbers were also released today, 
yielding positive results.  The expected number of 0.7% was 
beaten with the actual number being 1.1%.  This number is 
slightly deceiving given the weakness in ex-autos and lateral 
economic growth over the last two months.  Apparel led the 
increase in retail sales, with a 2% rebound from the previous 
numbers.  Furniture and home fixtures were flat, with consumer 
durables seeing weakness.  Basically, we're buying new underwear, 
but the desired couch and china can wait.  

In other economic news of the week, Import Prices stayed flat, 
Export Prices declined -0.1%, weekly Initial Claims increased by
403K, and Consumer Credit increased to $9.5B from $8.8B.  
Finally, the core Producer Price Index (PPI), increased to 0.2%. 
The PPI measures prices of goods at the wholesale level, tracking 
the three types of goods: crude, intermediate, and finished.  The 
increase in the PPI indicates that the overall supply of goods 
being prepared for sale is increasing.

Porky revisited.  

The Dow opened optimistically on Monday after the 350 point, low 
volume rally, which took place a week ago Friday.  Alas this week 
was discouragingly red to say the least.  The low of the week 
came on Thursday, with the Dow trading at 8605.34, though it made 
an impressive rebound, closing just slightly negative on the day.  
A small part of yesterday's recovery was attributed to the rumor 
that Dan Niles was going to upgrade Intel AND that they were to 
pre-announce with positive results.  Although Mr. Niles did make 
a few positive comments, he also warned the market of being to 
overly optimistic with a foggy future hindering foresight.  There 
was no Intel earnings pre-announcement.  In the rumor world, this 
is known as "pump and dump".    

Chart of: Dow Jones Industrial Average, Daily.


 


The chart of the Dow is certainly nothing new.  What I would like 
to point out though, is that we are currently trading on the 
bottom of the channel.  We have seen two prior hammer bottoms 
with confirmation since June, and both have failed on the top of 
the channel.  Also, even with our recovery yesterday, we still 
didn't see the type of capitulation volume, which would truly 
indicate a bottom.  Further, our position in the channel does 
indicate a small relief rally to let the Dow breathe, but it 
would take something extra-ordinary to allow the index to 
breakout of the channel to the upside.  I would also like to 
point out that the 50-Day MA (gray line) crossed under the 200-
Day MA (green line) in the first part of July.  The last time the 
50-day crossed under the 200, was just prior to the September 
lows, and also just before the March lows in 2001.  

Below is a chart of the Dow Jones weekly chart.  If we examine 
the weekly chart, a longer-term trend becomes apparent.  There is 
an identifiable bearish channel that includes the September 11th 
lows.  I would like to point out two things on this chart.  
First, it's hard to see, though if you look towards the upper 
right hand side of the channel, you will see a light blue circle.  
Inside the circle, I am attempting to point out that the 50-Week 
MA has crossed below the 200-Week MA, an event that NEVER 
happened in the 90's.  I cannot tell you when it happened prior 
to the nineties, as my charts only go back twelve years.  I 
believe this is a very notable technical event, and hate to think 
it could indicate a longer-term bear market.

Chart of: Dow Jones Industrial Average, Weekly.




The Weekly chart of the Dow highlights three stochastic events. 
The first two (left to right), were preceded by a bounce in the 
Dow, which tested the descending resistance trend line in the 
channel.  Even though it is completely possible for the Dow to 
trade much lower long term, the Stochastics indicate that it 
would like to rebound slightly.  I would like to point out that a 
bounce would probably only be of technical merit, and does not 
mean the bottom has been found.  I have heard that many traders 
expected to see part of the bounce come today, but grew 
discouraged when no rally appeared.  This could mean the rally 
attempt has been foiled, and yesterday's action was nothing more 
than simple short covering. 

Miss Piggy

The Nasdaq is also trading in the descending channel, though 
unlike the Dow, it is at the top of the channel instead of the 
bottom.  The Composite was less volatile than the Dow this week, 
but still retains the threat of trading lower.  A little good 
news for the Composite was that beat up tech companies like 
Broadcom (Nasdaq:BRCM) and Juniper Networks (Nasdaq:JNPR) had 
actually been trying to gain ground in the week. 

Chart of: Nasdaq Composite Index, Daily.





With the S&P announcing the re-shuffling of foreign companies, 
the Index also had a disappointing week.  On Tuesday, Standard & 
Poor's said it is going to yank seven overseas firms out of the 
Index on July 19th, and replace them with U.S. Firms.  The firms 
to be de-listed are: Royal Dutch Petroleum (NYSE:RD), and 
Unilever (NYSE:UN), from Europe; Canadian firms: Nortel Networks 
(NYSE:NT), Alcan (NYSE:AL) Barrick Gold (NYSE:ABX), Placer Dome 
(NYSE:PDG) and Inco (NYSE:N.  These companies will be replaced 
by: Goldman Sachs (NYSE:GS), United Parcel Service (NYSE:UPS), 
Principal Financial (NYSE:PFG), Prudential Financial (NYSE:PRU),  
eBay (NasdaqNM:EBAY), Electronic Arts (NasdaqNM:ERTS), and 
SunGard Data Systems.  This announcement came at a very odd time, 
with the reshuffle appearing just before major earnings next 
week.  The resulting action was forced volatility in an already 
unstable market.  The S&P 500 ($SPX.X) is trading on the bottom 
of the daily channel, looking more similar to the Dow than the 
Nasdaq.  The S&P 500 is trading below the September low of 
944.75, which was made on September 21st, 2001.  With a finish of 
912.39, the S&P 500 hasn't closed this low in more than five 
years.  The last time the S&P 500 crowned a day below 925 was on 
November 12th, 1997, when it closed at 905.96.  It has traded 
below 925 since then, just not completed a trading session below 
it.  

Three Little Piggies

Measuring market volatility, the $VIX.X, proceeded further into 
the upper portion of it's range this week, trading above 40.00 on 
both Thursday and Friday.  It looks like the VIX.X could 
potentially go higher, possibly trading into the 42-43 area.  
Trading on the top of the channel, the VIX.X might also pull 
back, falling into more reasonable levels of its trend, before 
making another run at highs.  If this were to happen, it would be 
another piece in the puzzle that would alow the market a small 
bit of room to breathe before any continued selling. 

Gold rallied again this week, posting gains in four of the last 
five trading sessions. Obviously a defensive play to the sinking 
markets, investors have been fleeing to the security of gold.  
The chart depicts the current consolidation in the Gold Index, 
potentially preparing the price of gold to move higher.  In the 
near term, with a possible SHORT-TERM bounce in the market, gold 
could sell into the support of its ascending trend line.  
Stochastics are mid range on the daily, which doesn't help the 
market decide which side of the fence it will reside on.  

Chart of the Gold Index (daily)



      

Buying in Treasuries continued today, with yields gapping up this 
morning, and then flailing for the remainder of the day.  The 10-
Year Treasury note $TNX.X closed at 4.595%, or -0.47 for the day.  
We would like to see the yields increase, which would indicate 
that cash is leaving Treasuries and flowing into stocks. 
Unfortunately today did not help.  With index selling and heavy 
mutual fund redemptions, there is a breadcrumb trail to where the 
Treasury buying is coming from.  Investors are worried, and are 
still seeking the safety of U.S. treasuries.   

How do you like your bacon?

Earnings for the week were also of mixed review.  On Monday, 
Alcoa (NYSE:AA) reported 0.27 cents per shares versus an expected 
0.28 cents per share.  Safeway (NYSE:SWY) met earnings at 0.72 
cents per share.  On Tuesday, Pepsi Bottling (NYSE:PEP) also met 
earnings expectations at 0.47 cents per share.  Wednesday had 
many earnings, though the big story was Yahoo (Nasdaq:YHOO).  The 
Internet company beat expectations, reporting 0.03 cents per 
share, with its first profitable quarter in a year and a half.  
Part of the reason for the increase in profitability, was a 
strong restructuring plan, which allowed Yahoo to minimize it's 
revenue from advertising.  In an awkward turn of events, Merrill 
Lynch downgraded Yahoo on the heels of its earnings, citing dis-
clairity in Yahoo's revenue models.  Thursday showed flat 
earnings by Abbott Labs (NYSE:ABT), and an increase in earnings 
for DoubleClick (Nasdaq:DCLK), Juniper Networks (Nasdaq:JNPR), 
and Powerwave (Nasdaq:PWAV).  Marriott Hotels (NYSE:MER) exceeded 
expectations reporting 0.50 cents per share.  And finally, 
General Electric (NYSE:GE) reported a 14 percent rise in profits 
for the last quarter.  Encouraging enough, GE sees a "promising" 
third quarter, with many new products coming forward.  This could 
be mis-leading though, for after a one time special tax related 
event is deducted, profits actually only increased 5.5%.   

Sloth eats out of trough.

Drug stocks slid to levels not seen since early 1998.  One of the 
reasons for the drug sell off is the increasing competitive 
threat by generic competitors.  Merck (NYSE:MRK), weighted 
heavily on the Drug Index $DRG.X, with concerns that it had 
unfairly booked 14 billion in revenue and the fact that no one 
seems interested in its Medco IPO.  

The Oil Services $OSX.X and Oil Index $XOI.X, both fell this week 
with accounting concerns and the de-listing in the S&P 500 of 
Royal Dutch Petroleum (NYSE:RD).  On the contrary, light sweet 
crude oil closed at $27.48 per barrel today with increased 
concerns on Middle East conflicts.  Although the President's war 
on terrorism has helped to fuel the price of crude, the 
"downstream" problems the industry faces require further 
attention.  Overlooking refining and marketing problems, the 
industry faces slowing through poor demand of jet fuel and mild 
weather.  Fadel Gheit, an analyst with Fahnestock & Co is betting 
on a turn around.  He says, "If you have to invest, you should 
look to Exxon Mobile or BP".  

Bull piggie versus bear piggie, 
who has the prettiest lipstick?

All in all, the entire picture is not looking very pretty.  The 
case for the bulls is not one of substantial substance.  It goes 
like this:

Going into earnings next week we will hear from IBM (NYSE:IBM), 
Intel (Nasdaq:INTC), and MicroSoft (MSFT).  Maybe one or more of 
these companies will meet earnings, and more importantly, give 
positive future guidance... Maybe stating something like "we're a 
genius, the Internet will make every one rich again, go ahead and 
order that BMW". - Just kidding.  Really though, some positive 
comments would definitely help consumers gain confidence.  
Furthermore, the Dow has been red almost all week and is due for 
a technical bounce.  The VIX.X is also confirming volatility at 
the top of its channel.  Gold prices have exceeded their demand, 
and have no real productive value to society, so they could sell 
off.  The SEC will help probe American corporations, making them 
more accountable (no pun intended), and allow the American 
investor the luxury of trusting their financial statements once 
again.  Treasuries will fall, with the 10-Year yield rallying 
above 4.6%, and continuing higher.  The CBOE put/call ratio 
closed at .64 today, which is more bullish than any other time 
this week.  Plus, the Bullish Percent charts for a growing number 
of sectors have been so oversold that some are even starting to 
tick upward and could be signaling short-term reversals soon 
(bulls hope).  Well, ok, that's the bull.

The Bearish argument (with lipstick) sounds like this:

Really, there is no new news that would turn our economy around.  
Gold doesn't matter; you don't own the real stuff anyway.  The 
Volatility index can definitely go higher; a potential bottom 
isn't even fathomable until the VIX.X hits AT LEAST 43.  The Dow 
Jones 50-Week is below the 200-week MA, which is a big deal.  
Plus, all the other major indices have tested and broken their 
Sept. 2001 lows and the Dow needs to catch up!  No matter how you 
slice it all of the indices are still trading in their respective 
descending channels.  Bears look for any rally to short.  
Earnings next week are just the banana peel this market needs to 
slip and fall flat on it's back.  Companies are going to have to 
restate revenue in order to clean up their books and avoid 
massive legal and judicial problems.  The deadline for the top 
1000 companies in America to have their financials personally 
approved by the CEOs will begin on August 14th (not all of them 
at the same time but it will start).  So this earnings season is 
management's opportunity to do some house cleaning and get rid of 
the trash that could stink up the balance sheets later. In which 
case, take away the past revenue, and PE ratios go through the 
roof.  The 10-Year Treasury Yield is below 4.6%.  And finally, 
they are going to freeze Ted Williams, which will do it.  That 
will be the final icing on the cake!  I hope he remembers his 
lipstick before he becomes Popsicle man.     

Mark Whistler
editor@PremierInvestor.net


=========================
Play-of-the-Day (BEARISH)
=========================
(( new Active Trader short play ))

Anheuser-Busch - BUD - close: 49.20 change:  stop: *text*

Company Description:
Anheuser-Busch Companies Inc. is a diversified corporation. Its 
Anheuser-Busch, Inc. subsidiary is the world's largest brewing 
organization, leading the U.S. beer industry for 40 years. The 
company has more than 30 beer brands. Its Budweiser and Bud Light 
brands are the world's top-selling beers. (source: company press 
release)

Why We Like It:
Anheuser Busch looks like a possible short below 48.75.  The 
technical analysis on this trade seem to be pointing towards a 
potential selling push where BUD could test it's 200-Day MA, then 
potentially break down even lower.  On a daily chart, the 
Stochastic, (14(1,3), is crossing the 20 line, which could 
indicate more selling pressure to come.  Further, the stock is 
trading below the 50-Day MA.  Also, the 21-Day MA has just 
crossed below the 50-Day MA.  To enter this trade, we are looking 
for a break below 48.75, which would put the stock heading back 
towards its gap from late February.  If this event occurs, the 
$48.00 mark and the 200-dma near $47.60 are likely areas where 
bulls could try and defend the stock. In the big picture, BUD 
looks potentially ready to roll over on the weekly chart.  The 
weekly chart also shows a Stochastic cross under the lower line.  
The 200-Week MA is far below the current level residing at 
$40.00.  Fortunately for the bears, that the market has been 
selling a lot of its winners and the Dow Jones appears to be 
playing catch up with the Nasdaq and SPX, BUD could also play 
catch up to the rest of the market.  Conservative traders may 
want to wait for BUD to close under the 200-dma before initiating 
any positions.  Our target would be in the 44.50 area, yielding a 
8.7% gain.  One factor that might slow the decent of BUD, is the 
congestion in the 45.50-45.60 area.  Once this trade is 
triggered, we will put our stop at 50.10, not allowing the trade 
much room to breathe.  Part of our logic behind this trade is the 
breakdown in other beverage stocks like RKY and KO.  Adolph Coors 
had a similar chart, and has fallen into its 200-Day MA, and is 
now trading lower.  Coca-Cola also had an ascending wedge, which 
was recently broken to the downside.  Bears will note the PnF 
chart looks a little extended for BUD and a trade at $48.00 would 
be a double-bottom breakdown.  The bullish support on the PnF 
chart is down near $42.00.  We also noted that the volume on the 
last two days of declines have been pretty strong.  Hopefully 
we'll have a hang over from this trade when the party is over.

Picked on July xx.xx at $xx.xx <- see text
Gain since picked:       +0.00
Earnings Date         07/24/02 (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
---------------------------------

British Airways - BAB - close: 24.87 change: -0.81

We'll forego the usual cliches about the airline sector crashing, 
freefalling, or nose-diving out of control.  The XAL.X airline 
index has violated its September lows on an intraday basis and 
could easily fall to the 50-55 region.  Suffice it to say, there 
are a whole lot of weak stocks in the group.  Possible bearish 
trades include ALK, AMR, BAB, CAL, DAL and NWAC.  The chart for 
BAB looks particularly ugly, with shares just breaking under the 
$25.00 support level.  If the recent airline downtrend continues 
it'll just be a matter of time until BAB retests it's September 
lows near $20.00.  Entries could be considered at current levels, 
but note that this ADR trades on relatively light volume of about 
50,000 shares/day.




---

Biosite Inc - BSTE - close: 20.65 change: -2.25

WHAT TO WATCH: Shares of BSTE hit new multi-month lows today.  
The catalyst for the 9.8% decline was a sell rating from Sterling 
Financial.  They're not exactly one of the bigger firms on Wall 
Street, but these days it doesn't take much to send jittery 
investors running for the exits.  Volume backing the drop was a 
raging 927,000 shares, the strongest reading since April.  The 
bearish MACD and violation of the 200-dma ($21.73) portend more 
weakness in the days ahead.  In terms of action points, we'd be 
watching for a break under psychological support at $20.00 (not 
coincidentally, also today's low) to take BSTE to the next level 
of historical support at $18.00.


 

---

Amdocs Ltd - DOX - close: 8.55 change: -0.02

WHAT TO WATCH: DOX was slaughtered last month after the company 
lowered its Q3 earnings estimate.  Shares bottomed out near $6.50 
and have spent the past two weeks marching higher.  Frankly, 
we're wondering who the heck has been buying the stock.  The list 
of recent news reports for DOX is littered with stories about 
class action lawsuits and credit downgrades.  DOX may be a short 
at current levels, but a failed rally near $10.00 would really 
offer an attractive entry point.  This level of psychological 
resistance coincides with the bottom of DOX's June 21st gap.  
It'll take some serious bullish momentum to push shares above 
this region.  Shares may also see selling pressure ahead of the 
July 23rd earnings report.  Considering the laundry list of 
recent bad news, the odds of an upside surprise seem very slim.




--- 

McDATA Corp - MCDT - close: 9.76 change: +0.49

Short-term traders may want to consider a bullish play in McDATA 
ahead of their earnings report on Thursday.  Much like software 
compatriot ORCL, MCDT has spent the past few months trading under 
$10.00 and is flirting with a breakout above that level.  A move 
above today's high ($10.23) could provide a possible action point 
for long positions.  We'd be targeting a quick move to the 
$11.50-$12.00 area.  With a little assistance from a rally in the 
NASDAQ, MCDT could even reach the top of its April 5th gap at 
$12.55.




---

Procter & Gamble - PG - close: 83.63 change: -2.32

WHAT TO WATCH: Speculation of accounting irregularities sent PG 
plummeting to new multi-month lows on Friday.  The company's CFO 
released a statement after the close that categorically denied 
the rumors, but we suspect the selling pressure will nonetheless 
continue into next week.  PG has fallen precipitously over the 
past week on steadily increasing volume and pieced the 200-dma 
(83.45) during today's session.  Traders can watch for a break 
below today's low of $82.10 or a violation of bullish p-n-f 
support at $81.  With the Dow Jones in a freefall, we wouldn't be 
surprised to see PG test the $75 level within the next few weeks.




--- 

Tractor Supply - TSCO - close: 66.17 change: +1.43

WHAT TO WATCH: It's not easy to find stocks that have been 
uptrending over the past year, but TSCO fits the bill.  The 
recent pullback seems to be a result of profit-taking and 
negativity in the broader market rather than stock-specific 
weakness.  If shares continue a little lower, a bounce from the 
50-dma at $62.54 would offer a favorable entry point for long 
positions.  Traders could place their stops just under this 
moving average, which has provided support dating back to last 
December.  We'd be aiming for a quick rebound back to near-term 
resistance at $68.00.  Note that we not recommend taking any 
positions ahead of TSCO's Tuesday earnings report.





------------
RADAR SCREEN
------------

S - Looks like it'll head lower after breaking the 200-dma on 
strong volume.  Short positions could be targeted below $46.00, 
but watch out for possible support at $44.00.  S could eventually 
reach the $40.00 level.

HRB - Impressive relative strength in recent weeks.  A move over 
$48.00 could take HRB to the February highs near $51.

PCTI - Has formed a huge pennant and could be coiling for a large 
move.

PETM - Watch the 50-dma at $16.12.  Go long on a breakout above 
this resistance level, short on a rollover.

CAO - If recent support at $12.00 fails, there's little to 
prevent a test of the 200-dma at $10.45.  MACD and daily 
stochastics are looking bearish.

T - Believe it or not, this stock looks like a possible bullish 
trade over $10.50.  Target the 50-dma near $11.50.

HTCH - Aggressive bulls will be keeping an eye on Hutchinson. 
The stock tried to get over its 50-dma last week but failed.  
this time it succeeded and broke above the $16.50 level or 
resistance too.  Looks like a trade to $18.00.

FALC - Another tech stock that has been bottoming for weeks.  
FALC has broken above its 50-dma but still remains under 
resistance at $5.20.  Use this level as an action point for a 
possible long play.

EDS - We don't remember why EDS was hammered so hard in late June 
but the stock has broken above the $35 level of resistance and 
shorts could be in a hurry to cover.  Next resistance is $40.

ELON - This is a software stock that has appeared to bottom and 
is battling with resistance at $14.00.  A move above this level 
could make it to the 200-dma.  Watch out for any bad news from 
MSFT on Thursday afternoon.

WEBM - This is becoming a familiar pattern.  A tech stock that 
has bottomed and is trying to make a comeback.  Look for a 
trigger point above $10.00 or $10.25 to go long.  

SONC - This is a high-risk play.  Shares have bounced at the 100-
dma more than once over the last several months.  This happens to 
coincide with the bottom of its rising channel.  A trigger above 
today's high with a stop under Thursday's low looks like a 
possible play.  Target the $32 level but watch the 50-dma.

SWY - The dead cat bounce has begun.  After bottoming in early 
July the stock has made a steady rally attempt and is back over 
the $30 mark.  We'd probably go long on a move over $31.00.  If 
we're really lucky, it will try and fill the gap.

RCII - We wanted to play this stock short twice this week.  The 
collapse under $52 was key and the close under $50 looks great.  
Our target would be the 200-dma near $42.  One problem.  The PnF 
chart is showing support just a couple of points away.  

STM - With Intel set to announce earnings after the bell on 
Tuesday the event risk for longs holding chip stocks is growing.  
The chart on STM looks like it's building a bearish flag pattern 
that could breakdown and resume its previous downward trend.  
We'd target $20.

PFCB - This looks pretty good for bears.  The stock has very 
strong resistance at $30 that has been a lid on the share price.  
The failed rally today and the close under the 200-dma looks like 
an entry.  Initial target could be $25.

N - It may not be kosher but the close under the $20 level looks 
like N could test its 200-dma at $18.00.  It will be removed from 
the S&P 500 after the close next Friday (19th).  

PIR - Several retail stocks are getting hit hard this week and 
PIR has stopped right at its 200-dma near the $18 level.  A move 
from here could have it trading at $16 soon.

STU - We'd consider a trigger under $81.00 for a bearish play, 
while more conservative traders may want to wait for a break of 
$80.  Initial target could be $75 but PnF support is near $65.

ARM - The auto sector hasn't been the strongest lately and a move 
under the $20 mark looks like a good trigger to go short.  PnF 
support is near $17.50.  Sounds like a good target.

PGR - Trading right at support but the PnF chart looks incredibly 
bearish.  A move under $50 might be the trigger for a new entry.

YUM - This stock is incredibly oversold without barely a let up 
from late June.  A failed rally at $30 looks good for a new short 
as would a failed rally at the 200-dma near $28.  However, 
aggressive shorts could target an entry under $26.00.

DRXR - This stock has a bearish PnF and a bearish daily chart.  
We would consider shorts at current levels with a target near 
$17.00.

RTRSY - The close under $30 looks like another opportunity to go
short but we'd use a tight stop to reduce risk.  Trading at 
levels not seen since 1993.


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

You Know The Feeling
by Steve Price

You know the feeling you get as the roller coaster levels off 
after a steep drop; that split second feeling of relief, which is 
suddenly gone as you feel yourself shaking toward the next 
plunge. That pretty much describes the past week in the stock 
market.  

Thursday's rebound was just that - a temporary reprieve before 
the next drop. This took place Friday in the Dow, which was 
dragged down by a weak consumer confidence report and by the 
retailers after home Depot was downgraded by Merrill Lynch to a 
"neutral" rating, from a "strong buy," shedding 7.4% percent of 
its value and bringing Wal-Mart and Lowes along for the ride. The 
nearly 10% drop in the retail index this week mirrored losses in 
the broader markets.  Retail sales appeared to beat expectations 
with a 1.1% increase, versus the expected 0.6% increase, however, 
after a 3.4% spike in auto sales was stripped away, the number 
reflected only a 0.4% increase versus an expectation of 0.5%.  
The University of Michigan Consumer Sentiment Index came in at 
86.5, a fall from June's 92.4 level, reflecting the public's 
jitters from corporate scandals that continue to seep out week 
after week.  These will no doubt be fueled by the Justice 
Department's probe of Duke Energy's trading operations. The Dow's 
loss of more than 7% since last Friday's close was its worst one-
week drop since immediately after September 11, as it appears to 
be playing catch up to the S&P 500 and Nasdaq.  This loss was 
underscored by the cyclicals, which gave up almost 8% for the 
week.

Dell helped maintain the Nasdaq's Thursday closing level, which 
had already suffered a 5.2% drop for the week, when it announced 
after Thursday's bell that market share gains would allow it to 
surpass second quarter revenue and profit targets. Juniper also 
released encouraging news with better than expected second 
quarter results. Still, the tech sector continues to seek out new 
lows.

On the positive side, the CBOE's put/call ratio dropped from the 
80% range it had maintained all week into the 60% range on 
Friday, reflecting less panic put buying as a percentage of total 
options traded.  Next week there are some big shots releasing 
earnings, most notably Intel, IBM and Microsoft, which should 
keep that feeling of anticipation as we come out of the latest 
drop and rattle toward the next turn.

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

Market Averages

DJIA ($INDU)

52-week High: 11350
52-week Low :  8062
Current     :  8684

Moving Averages:
(Simple)

 10-dma: 9046
 50-dma: 9655
200-dma: 9823

S&P 500 ($SPX)

52-week High: 1316
52-week Low :  901
Current     :  921

Moving Averages:
(Simple)

 10-dma:  954
 50-dma: 1030
200-dma: 1097

Nasdaq-100 ($NDX)

52-week High: 2071
52-week Low :  946
Current     : 1000

Moving Averages:
(Simple)

 10-dma: 1003
 50-dma: 1145
200-dma: 1390

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

Retail Index ($RLX)

The RLX, which had shown the relative strength of consumer 
spending, has finally given in amid wilting consumer confidence 
and a big downgrade to one of its heavies.  

In the front of the toboggan sat Home Depot (NYSE:HD), followed 
by WalMart (NYSE: WMT),BJ's Wholesale Club (NYSE:BJ), Federated 
Department Stores (NYSE:FD), and Lowes (NYSE:LOW). The sector 
hasn't seen this level since October and appears to be in the 
process of finding out just how steep the hill below it will be.   

52-week High: 367
52-week Low : 251
Current     : 296

Moving Averages:
(Simple)

 10-dma: 315
 50-dma: 337
200-dma: 332

---

Light Sweet Crude Oil (CL02Q, August contract), 
Oil Index ($XOI), Oil Service Sector ($OSX)

How interesting!  The Oil Index ($XOI) and Oil Service Sector 
Index ($OSX) have been pummeled over the last week, while Light, 
Sweet Crude Oil (CL02Q) continues its upward trend.  Is it all 
Cheney's fault?  Have the problems in refining and marketing only 
caught up in the last week? Could it be weakness in jet fuel demand 
that has been lingering since September.  Hmmm.

 
Moving Averages:
(Simple)

Light Sweet Crude:
Current:  27.48
 10-dma:  26.73
 50-dma:  26.14
200-dma:  23.40

Oil Index:
Current:  501.79
 10-dma:  532.47
 50-dma:  539.85
200-dma:  524.56

Oil Service Sector:
Current:  83.66
 10-dma:  88.97
 50-dma:  99.78
200-dma:  89.24


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

Market Volatility

The VIX continues to trade in 40 range, trading over 41 intraday 
on Thursday and just under 40 on Friday.  It's chart shows it 
possibly rounding off, but this could be due to option sellers 
trying to capture premium decay over the weekend.  Sellers 
frequently come into the option pits on Friday afternoon with 
their palms out (selling) when volatility reaches high levels. 
The sellers hope any loss from their short gamma position due to 
a market move on Monday doesn't overcome the three days worth of 
time decay profit over the weekend.

The VXN gave back a couple of points as the Nasdaq hung in after
positive announcements from Dell and Juniper.

CBOE Market Volatility Index (VIX) - 38.09 -0.55
Nasdaq-100 Volatility Index  (VXN) - 66.38 -2.61

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

          Put/Call Ratio  Call Volume   Put Volume
Total          0.64        644,723       415,399
Equity Only    0.55        507,321       279,681
OEX            0.61         39,952        24,470
QQQ            0.46         72,256        33,260

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

Bullish Percent Data

           Current   Change   Status
NYSE          41      - 0     Bull Correction
NASDAQ-100    21      + 6     Bull Alert
DOW           23      - 0     Bear Confirmed
S&P 500       26      - 0     Bear Confirmed
S&P 100       23      - 0     Bear Confirmed

Bullish percent measures the number of stocks in an index 
currently trading on a buy signal on their point and figure 
chart.  Readings above 70 are considered overbought, and readings 
below 30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - Pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend

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

 5-Day Arms Index  1.43
10-Day Arms Index  1.42
21-Day Arms Index  1.41
55-Day Arms Index  1.39

Extreme readings above 1.5 are bullish, and readings below .85 
are bearish.  These signals don't occur often and tend be early, 
but when the do, they can signal significant market turning 
points.

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

Market Internals

        Advancers     Decliners
NYSE       1252          1874
NASDAQ     1561          1769

        New Highs      New Lows
NYSE        32            182
NASDAQ      75            102

        Volume (in millions)
NYSE     1,865
NASDAQ   1,687

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

Commitments Of Traders Report: 06/25/02

Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts at the 
Chicago Mercantile Exchange and Chicago Board of Trade. COT data 
can be found at www.cftc.gov.

Small specs are the general trading public with commercials being 
financial institutions. Commercials are historically on the 
correct side of future trend changes while small specs tend 
to be wrong.  

S&P 500

Commercials gave back only 700 of their net short positions, a 
small percentage change, maintaining a bearish position.  Small 
Traders added back a couple of thousand contracts to their long 
position.

Commercials   Long      Short      Net     % Of OI 
06/18/02      437,530   487,956   (50,426)   (5.4%)
06/25/02      378,214   438,775   (60,561)   (7.4%)
07/09/02      396,321   456,164   (59,843)   (7.0%)

Most bearish reading of the year: (111,956) -   3/6/02
Most bullish reading of the year: ( 36,481) - 10/16/01

Small Traders Long      Short      Net     % of OI
06/18/02      181,178    88,517    92,661     34.3%
06/25/02      134,380    62,792    71,588     36.3%
07/09/02      145,017    71,402    73,615     34.0%

Most bearish reading of the year:  36,513 - 5/01/01
Most bullish reading of the year: 114,510 - 3/26/02
 
NASDAQ-100

Commercials added only slightly to their net short position, 
maintaining the status quo. Small Traders reduced their net long 
position by over 40%.

Commercials   Long      Short      Net     % of OI 
06/18/02       54,816     49,169     5,647    5.4%
06/25/02       27,238     35,926    (8,688) (13.8%)
07/09/02       31,227     39,592    (8,725) (12.3%)

Most bearish reading of the year: (15,521) -  3/13/02
Most bullish reading of the year:   9,068  - 06/11/02

Small Traders  Long     Short      Net     % of OI
06/18/02       20,883    29,153    (8,270)   (16.5%)
06/25/02       14,749     7,570     7,179     32.2%
07/09/02       12,520     8,348     4,175     20.0%

Most bearish reading of the year: (10,769) - 06/11/02
Most bullish reading of the year:   8,460  -  3/13/02

DOW JONES INDUSTRIAL

Dow Commercials brought their long positions back up to their 
previous levels, adding almost 2,000 contracts. Small Traders 
maintained their previous bullish levels. 

Commercials   Long      Short      Net     % of OI
06/18/02       25,995    19,115    6,880     15.1%
06/25/02       18,016    13,255    4,761     15.2%
07/09/02       20,761    14,122    6,639     19.0%

Most bearish reading of the year: (8,322) -  1/16/01
Most bullish reading of the year: 15,135  - 10/16/01

Small Traders  Long      Short     Net     % of OI
06/18/02        5,379    11,813    (6,434)   (37.2%)
06/25/02        6,414     6,597       183     1.40% 
07/09/02        6,831     6,623       208     1.50%

Most bearish reading of the year:  (8,777) - 10/12/01
Most bullish reading of the year:   1,909  -  1/16/01

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




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Copyright  2001  PremierInvestor.net. and
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Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 07-12-2002
                                                    section 2 of 3
Copyright  2001, All rights reserved.
Redistribution in any form is strictly prohibited.

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In section two:

Stock Bottom / Active Trader
  New Bearish Plays:     BUD, ITT, SAH
  Bearish Play Updates:  FLR, NEM, RJR, XL
  Closed Bearish Plays:  AU

High Risk/Reward
  Bullish Play Updates:  NVDA
  Bearish Play Updates:  CHKP
  Closed Bearish Plays:  ALO, SEBL

Split Trader
                         HBHC: 3-for-2 split announcement
                         

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

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

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

Anheuser-Busch - BUD - close: 49.20 change:  stop: *text*

Company Description:
Anheuser-Busch Companies Inc. is a diversified corporation. Its 
Anheuser-Busch, Inc. subsidiary is the world's largest brewing 
organization, leading the U.S. beer industry for 40 years. The 
company has more than 30 beer brands. Its Budweiser and Bud Light 
brands are the world's top-selling beers. (source: company press 
release)

Why We Like It:
Anheuser Busch looks like a possible short below 48.75.  The 
technical analysis on this trade seem to be pointing towards a 
potential selling push where BUD could test it's 200-Day MA, then 
potentially break down even lower.  On a daily chart, the 
Stochastic, (14(1,3), is crossing the 20 line, which could 
indicate more selling pressure to come.  Further, the stock is 
trading below the 50-Day MA.  Also, the 21-Day MA has just 
crossed below the 50-Day MA.  To enter this trade, we are looking 
for a break below 48.75, which would put the stock heading back 
towards its gap from late February.  If this event occurs, the 
$48.00 mark and the 200-dma near $47.60 are likely areas where 
bulls could try and defend the stock. In the big picture, BUD 
looks potentially ready to roll over on the weekly chart.  The 
weekly chart also shows a Stochastic cross under the lower line.  
The 200-Week MA is far below the current level residing at 
$40.00.  Fortunately for the bears, that the market has been 
selling a lot of its winners and the Dow Jones appears to be 
playing catch up with the Nasdaq and SPX, BUD could also play 
catch up to the rest of the market.  Conservative traders may 
want to wait for BUD to close under the 200-dma before initiating 
any positions.  Our target would be in the 44.50 area, yielding a 
8.7% gain.  One factor that might slow the decent of BUD, is the 
congestion in the 45.50-45.60 area.  Once this trade is 
triggered, we will put our stop at 50.10, not allowing the trade 
much room to breathe.  Part of our logic behind this trade is the 
breakdown in other beverage stocks like RKY and KO.  Adolph Coors 
had a similar chart, and has fallen into its 200-Day MA, and is 
now trading lower.  Coca-Cola also had an ascending wedge, which 
was recently broken to the downside.  Bears will note the PnF 
chart looks a little extended for BUD and a trade at $48.00 would 
be a double-bottom breakdown.  The bullish support on the PnF 
chart is down near $42.00.  We also noted that the volume on the 
last two days of declines have been pretty strong.  Hopefully 
we'll have a hang over from this trade when the party is over.

Picked on July xx.xx at $xx.xx <- see text
Gain since picked:       +0.00
Earnings Date         07/24/02 (confirmed)
 



---  

ITT Industries - ITT - close: 64.99 change: -0.19 stop: *text*

Company Description:
ITT Industries, Inc. supplies advanced technology products and 
services in key markets including: electronic interconnects and 
switches; defense communication, opto-electronics, information 
technology and services; fluid and water management and other 
specialty products. Headquartered in White Plains, NY, the 
company generated $4.7 billion in 2001 sales. (source: company 
press release)

Why We Like It:
Shares of ITT had a phenomenal run during the first half of 2002 
that saw shares add more than 50% in just three months.  
Unfortunately for shareholders of this industrial conglomerate, 
the stock recently put in a double top near $70 and appears to be 
headed for further consolidation of the aforementioned gains.  
ITT fell to new multi-month lows on Thursday despite news that 
the company had received a $100M contract from the U.S. Army to 
provide force protection services.  This is an indication that 
all the positive news may already be priced into the stock.  
Technically, the recent rising volume and triple-bottom p-n-f 
sell signal lead us to believe that ITT will continue its losing 
ways in the near future.  Specifically, we're looking for shares 
to fall to our exit target at $60.11.  We may adjust this level 
if the stock picks up downside momentum.  A test of bullish p-n-f 
support would take shares all the way down to $55 but the 200-dma 
near $57.90 could stall the descent as would the potential 
support from the psychological round number at $60.

Our entry strategy is as follows: We won't enter this play until 
ITT trades below Thursday's low of $64.25.  If we're triggered 
our stop will be placed at $66.06, just above today's high.  This 
is somewhat conservative, but the premise of this play is take 
capture a breakdown.  We have no desire to stick around if this 
doesn't occur.  More aggressive traders could use a stop above 
the falling 50-dma at $68.20.

Picked on July xxth at $xx.xx <- see text
Gain since picked:      +0.00
Earnings Date        07/24/02
 



---

Sonic Automotive - SAH - close: 22.85 change: -1.00 stop: *text*

Company Description:
Sonic Automotive, Inc., a Fortune 300 company and a member of the 
Russell 2000 Index, is the nation's second largest automotive 
retailer, as measured by total revenue. The Company operates 184 
dealership franchises and 42 collision repair centers in 15 
states. (source: company press release)

Why We Like It:
On Friday morning the Fed released June's retail sales numbers.  
Contributing to the stronger-than-expected 1.1% increase was a 
strong automotive component.  Auto sales rose 3.4% in June, the 
largest increase since October.  Under normal market conditions, 
one would think that the auto sector would rally on this news.  
Of course, the current market is far from "normal," and it seems 
that investors sell ANY news, good or bad.  But on a more 
fundamental level, this may indicate that Wall Street has a 
pessimistic outlook for big-ticket consumer spending down the 
road (no pun intended).  This is reflected in the performance of 
most auto stocks, which have been steadily declining for several 
weeks.  Visual evidence of this negativity can be had by looking 
at the charts for F, GM, ARM, BWA, and DPH, and SAH.  SAH in 
particular is looking especially weak.  On Wednesday the stock 
sold off sharply from its 200-dma at $25.90.  Shares rebounded 
from a new relative low on Thursday only to see most of those 
gains evaporate during today's session.  The rising volume 
accompanying the recent decline and bearish daily stochastics 
(using a 5,3,3 setting) indicate that SAH will soon surpass its 
recent lows.  Specifically, we're anticipating a breakdown to the 
$20.00 region.  Our official profit-target is at $20.66, just 
above the January low.  

SAH traded an "inside day" today.  In other words, today's 
trading range could be contained within Thursday's range.  A 
break below today's low would normally be considered a bearish 
signal.  With this in mind, we're placing an entry trigger at 
$22.73, just under today's low.  If triggered, we'll set our stop 
two cents above Thursday's high at $24.26.  A more conservative 
approach to entries would be to wait for SAH to fall under the 
Thursday low of $22.20 and then use a tight stop just over 
$23.00.

Picked on July xxth at $xx.xx <- see text
Gain since picked:      +0.00
Earnings Date        07/30/02
 




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

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

Fluor Corp. - FLR - close: 33.68 change: -0.42 stop: 35.50

Hurrah, another day in our favor!  Our Fluor short seems to be 
working very well at this point.  Assuming FLR can break through 
33, we could see our first target of 32 as early as next week.  
There is a slight bit of support congestion in the mid 32 level, 
though a sell of the broader market could dis-assemble this 
support fairly quick.  We would again like to lower our stop loss 
on half of the position, to 34.60.  The remaining half of the 
position should be exited with a breach of 35.50.  There is no 
new news on FLR as of today, Friday, July 12, 2002.  
 
Picked on July 3rd at $35.94
Change since picked:   +2.26
Earnings Date       07/30/02 (confirmed)
 



---  

RJR Reynolds - RJR - close: 52.42 change: -1.49 stop: 53.06 *new*

There she blows!  RJR is moving towards testing its most recent 
lows in the 50s.  The next potential support level on the way 
down is 51.87, which was created on June 26th, 2002.  Beyond 
51.87, there is additional support in the 51.50 area.  We've 
decided that if RJR actually reaches $51.50, we'll close the play 
for a profit.  If RJR can break through this support, we could 
see smooth sailing all the way to 50.  We are lowering our stop 
to 53.06.  Although this stop will most likely be executed with 
almost any market bounce, it would ensure profitability of the 
trade.  Our reasoning for this is as follows: First, Philip 
Morris is right back to where it was two weeks ago, and seems 
like it might bounce once more before attempting to go through 
support.  If this were to happen, MO could possibly lead the rest 
of the Tobacco's higher, in which case we risk getting stopped 
out and lose our profit.  However, if the tobacco's ram through 
support, then we are still along for the ride.  Frankly, we are 
"challenging" this trade in order not to immediately close the 
position and give it the opportunity to produce more gains.  
Further, this is the fourth down day in a row for RJR, and we 
think there is more than average risk of a bounce.  Finally, the 
July 1, tax hike on cigarettes in places like New York City 
(making a pack of cigarettes cost $8), was a positive note for 
our short trade.  However, consumers have already begun looking 
beyond state lines to purchase cigarettes by buying online tax-
free.  Although the consumers could be forced to pay taxes if 
caught, there are no criminal penalties associated, so already a 
new industry of business is being generated.  Obviously, the 
cigarette companies aren't going to be made or broken by this 
news, it simply makes the tax rate more of a non-event.   
   
Picked on July 10th at $54.94 
Gain since picked:      +2.52
Earnings Date         7/19/02 (confirmed)
 



---

XL Capital - XL - close: 78.75 change: +0.55 stop: 81.06 *new*

There is really no new news here.  XL is trying to rebound off 
the bottom of its new descending channel, though there doesn't 
appear to be any real strength that could possibly give it 
legs...  Because of the uncertainty, and simple waiting game of 
this trade, we are going to lower the stop for our entire 
position to 81.06, which is slightly above the 10-Day MA.  The 
most obvious psychological resistance is the whole number at 80.  
The stock might find support near the $75 level so short-term 
traders could book half their profits between $76 and $75 and 
keep the other half of the position as we aim for the $70 region.   
 
Picked on July 3rd at $80.89
Gain since picked:     +2.14
Earnings Date       04/29/02 (confirmed)




---

Newmont Mining - NEM - close: 28.54 change: +0.49 stop: 29.10 

With the Dow selling off again today, gold continued to rally yet 
another day.  This was not helpful to our position, though we are 
not closing the trade yet.  We are still looking for selling in 
the $XAU.X next week, as Placer Dome and Barrick Gold will be de-
listed from the S&P 500 next Friday.  The forced Index related 
selling could provide opportunity for the trade to dwindle into 
our profit target at 25.60.  Looking at the Gold and Silver 
Index, the $XAU.X is yet to break resistance, and looks as if it 
could enter a Stochastics sell given a metals sell-off.  Again, 
our target is still $25.60, with a VERY tight stop at 29.10, just 
above the 50-dma.  Because of the lower risk to reward on this 
play, we are being very protective of any potential losses.  This 
play is pure money management.  Lets hope gold sinks in the murky 
waters of this market!    
 
Picked on July 3rd at $28.05
Gain since picked:     -0.49
Earnings Date       07/30/02 (confirmed)





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

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

Anglogold - AU - close: 28.21 change: -1.16 stop: 29.50

That screeching sound you hear is the major indices approaching 
new relative lows.  The XAU.X gold index popped higher today as 
the Dow Jones retraced all of Thursday's gains.  AU spiked higher 
during the final hour of traded at hit our stop-loss at $29.50.  
Our play was closed for a 4.5% loss.  Traders who did not exit 
the play on this brief spike should now be watching for the stock 
to rollover between the 50-dma ($29.57) and the relative high of 
$30.20.  How AU performs next week will largely depend on whether 
the equity markets rebound.  If the recent downward trend 
continues, we may see buyers continue to flock to the gold 
sector.

Picked on July 11th at $28.21 
Gain since picked:      -1.29
Earnings Date        10/31/02 (confirmed)






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

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

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

NVIDIA Corp. - NVDA - close: 19.91 change: -0.02 stop: *text*
 
We had a pretty good hunch that NVDA would gap higher this 
morning.  The stock was trading above the $20.50 level in 
Thursday's after-hours session and looked poised to open well 
above near-term resistance at the $20 level.  Sure enough, shares 
gapped sharply higher and opened at $21.00.  Our hypothetical 
trade was not triggered.  To quote the original play description, 
"we will NOT enter this play if the stock opens above $20.99."  
Our reasoning for this placing this upper limit on our entry 
range was that a large gap would likely lead to some backing and 
filling.  That was the case on Friday, as shares moved lower with 
the NASDAQ and eventually finished with a small loss.  
Technically, NVDA is a mixed bag.  The daily stochastics (5,3,3) 
have gone flat and the MACD continues to look strong.  
Candlestick enthusiasts will note that NVDA has formed a possible 
bearish dark cloud cover.  However, point-and-figure chartists 
can counter that today's trade at $21.00 created a double-top buy 
signal.  The direction NVDA ultimately moves will likely depend 
on the reaction to the Intel's earnings announcement on Tuesday 
afternoon.  Any positive news from the INTC camp could spark an 
explosive rally in the chip sector and propel the SOX.X above 
resistance at 400.  Of course INTC could have the opposite 
effect.  If Intel misses or guides lower it will probably crater 
the sector and NVDA with it.  This is the event risk traders will 
face this week.  If you don't want to risk it, sit out this one.

In light of today's action, we're going to slightly alter our 
strategy for entering this play: We'll go long if shares move 
above $20.01.  If the play is triggered our stop will be set at 
$19.49, just under today's low.  We won't enter the play if 
shares open above $20.49.  We're also going to keep an eye on the 
50-period MA on the 60-minute chart.  Currently located at 
$18.61, this moving average has acted as resistance for more than 
month and it should now act as support (like it did on 
Wednesday).  We may consider adjusting our entry strategy if 
shares bounce from this level.

Picked on July xth at $xx.xx <- see text
Gain since picked:     +0.00
Earnings Date       08/21/02 (unconfirmed)
 



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

Check Point - CHKP - close: 13.33 change: +0.15 stop: 14.06 

CHKP finished the Friday session with a 1.1% gain that left the 
technical picture unchanged.  The stock moved above Thursday's 
high but remains under a declining line of resistance that has 
thwarted every advance since mid-May.  This trendline can be more 
clearly seen on the 60-minute chart.  Our stop is safely above 
this level, which lies just under round-number resistance at 
$14.00.  A rollover from these levels could provide traders with 
a chance to open new bearish positions.  Looking ahead to next 
week, MSFT announces earnings after the bell on Thursday.  It 
goes without saying that any surprises could have a major impact 
on the software group.  Remember that we'll close this play if 
CHKP trades at or below $12.06.  Of course we don't have to wait 
for MSFT, it could be INTC or IBM that tanks the tech sector next 
week due to their earnings announcements.

Picked on July 8th at $13.99
Gain since picked:     +0.66
Earnings Date        7/22/02 (confirmed)





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

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

Alpharma, Inc - ALO - cls: 14.50 chg: +0.49 stop: 14.63

Shares of ALO have seen some heavy selling recently, so it wasn't 
surprising to see the bears take a breather near the 52-week 
lows.  Based on our belief that such a bounce was likely, we 
tightened our stop to $14.63.  Shares reached this level on 
Friday morning.  Our play was closed for a gain of $1.32, or 
8.2%.  News hit the wires at 2:36 (EST) that Purepac, an ALO 
subsidiary, had received FDA approval to manufacture and market 
its tizanidine hydrochloride tablets.  Shares briefly spiked 
higher after the announcement but the overall reaction was 
somewhat muted.  By no means does today's bounce signify a bottom 
in ALO.  Yes, the oscillators are oversold.   But given the 
weakness in the drug sector (as gauged by the DRG.X 
pharmaceutical index), there is no reason shares can't continue 
lower.  Considering the lack of underlying support levels, we 
think a break below the March low of $13.75 will trigger another 
round of heavy selling.  Renewed bearish positions could be 
evaluated if this breakdown occurs.

Picked on June 26th at $15.95 
Change since picked:    +1.32
Earnings Date        07/29/02 (unconfirmed)




---

Siebel Sys. - SEBL - close: 11.53 change: -0.63 stop: 12.31

Last night we elected to place a very tight stop on SEBL.  Our 
defensive approach to this hypothetical trade was based on the 
possibility that the Thursday rally could carry over into today's 
session.  Our play was closed for a 5.4% loss when shares gapped 
above our stop and opened at $12.59.  In hindsight, we obviously 
would have preferred to give SEBL a more breathing room.  The 
news today that MSFT is coming out with its own CRM software 
client could be a killer for SEBL's business and the main drag on 
its share price.

The stock proceeded to fall for the remainder of the session and 
set a new 52-week low, closing near the worst levels of the day.  
This breakdown is extremely bearish and could portend heavier 
selling over the next few sessions.  Traders still short in SEBL 
should be looking for a test of the $10.00 level while 
maintaining a tight trailing stop as the stock continues to fall.  
Also remember that SEBL announces earnings on Wednesday.  Holding 
any stock over its earnings is a risky proposition due to the 
possibility of an upside surprise.

Picked on July 10th at $11.94
Gain since picked:      -0.65
Earnings Date         7/17/02 (confirmed)






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

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

Hancock Holding Sets 3-for-2 Stock Split

Just prior to the closing bell on Friday, Hancock Holding Company 
(NASDAQ: HBHC) announced its Board of Directors had declared a 3-
for-2 stock split.

The split will be payable on August 5, 2002 to stockholders of 
record on July 23, 2002.

This marks only the third stock split for HBHC since it began 
trading in 1991.  Shares have been steadily trending higher since 
last October and recently set an all-time high of $67.70.  Traders 
looking to play a split run in HBHC need to be aware that it 
trades on relatively thin average daily volume of 25,000 shares.

The stock closed at $63.84 on Friday.  For a current quote, click here:

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

About the company
Hancock Holding Company has assets of $3.9 billion. Century-old 
Hancock Bank ranks among the top 5.5% of America's financial 
institutions for financial strength and stability, according to 
Veribanc, Inc., and has consistently received a BauerFinancial, 
Inc., five-star superior rating (the highest rating possible). 
Hancock Bank operates over 100 full-service offices and more than 
138 automated teller machines throughout South Mississippi and 
Louisiana as well as subsidiaries Hancock Investment Services, 
Inc., Hancock Insurance Agency, Hancock Mortgage Corporation, and 
Harrison Finance Company. (source: company press release




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Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter         Weekend Edition 07-12-2002
                                                   Section 3 of 3
Copyright  2002, 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 three:

Market Watch for Week of July 15th
   - 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 July 15th
==================================================

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

Symbol  Company               Date           Comment      EPS Est

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

BAC    Bank of America        Mon, Jul 15  -----N/A-----     1.39
BRE    BRE Properties         Mon, Jul 15  After the Bell    0.68
CSL    Carlisle Companies     Mon, Jul 15  After the Bell    0.77
CTSH   Cognizant Tech Sol     Mon, Jul 15  After the Bell    0.36
CBSS   Compass Bancshares     Mon, Jul 15  -----N/A-----     0.60
ETN    Eaton                  Mon, Jul 15  -----N/A-----     1.20
FNM    Fannie Mae             Mon, Jul 15  -----N/A-----     1.52
FTN    First Tennessee Ntl    Mon, Jul 15  Before the Bell   0.67
FBF    FleetBoston Financial  Mon, Jul 15  Before the Bell   0.71
HIB    Hibernia Corporation   Mon, Jul 15  -----N/A-----     0.38
HU     Hudson United Bancorp  Mon, Jul 15  -----N/A-----     0.56
GMH    Hughes Electronics     Mon, Jul 15  Before the Bell  -0.16
RX     IMS Health             Mon, Jul 15  After the Bell    0.23
JBHT   JB Hunt Transportation Mon, Jul 15  -----N/A-----     0.27
MYG    Maytag                 Mon, Jul 15  After the Bell    0.85
MHK    Mohawk Industries      Mon, Jul 15  -----N/A-----     1.11
NTRS   Northern Trust         Mon, Jul 15  Before the Bell   0.57
PKG    Packaging Corp of Am   Mon, Jul 15  Before the Bell   0.12
PP     Prentiss Properties    Mon, Jul 15  After the Bell    0.85
SKM    SK Telecom             Mon, Jul 15  Before the Bell    N/A
SKFR   SKF AB                 Mon, Jul 15  Before the Bell    N/A
SWBT   Southwest Bancorp TX   Mon, Jul 15  After the Bell    0.42

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

AL     Alcan Inc.             Tue, Jul 16  -----N/A-----     0.41
ALS    Alstom SA              Tue, Jul 16  Before the Bell    N/A
ASO    AmSouth Bancorporation Tue, Jul 16  Before the Bell   0.41
AAPL   Apple Computer         Tue, Jul 16  After the Bell    0.09
ONE    Bank One               Tue, Jul 16  Before the Bell   0.68
COF    Capital One Financial  Tue, Jul 16  After the Bell    0.86
CAT    Caterpillar            Tue, Jul 16  Before the Bell   0.73
CEC    CEC Entertainment      Tue, Jul 16  -----N/A-----     0.52
CNT    CenterPoint Prop Trust Tue, Jul 16  After the Bell    0.99
CYN    City National          Tue, Jul 16  Before the Bell   0.88
CNB    Colonial BancGroup     Tue, Jul 16  -----N/A-----     0.30
CPWR   Compuware              Tue, Jul 16  After the Bell    0.05
FBAN   F.N.B. Corporation     Tue, Jul 16  After the Bell    0.52
FITB   Fifth Third Bancorp    Tue, Jul 16  Before the Bell   0.68
FULT   Fulton Financial       Tue, Jul 16  After the Bell    0.32
GCI    Gannett                Tue, Jul 16  Before the Bell   1.13
GM     General Motors         Tue, Jul 16  Before the Bell   2.42
GNTX   Gentex                 Tue, Jul 16  -----N/A-----     0.25
GSB    Golden State Bancorp   Tue, Jul 16  Before the Bell   0.87
GPT    GreenPoint Financial   Tue, Jul 16  Before the Bell   1.28
HDI    Harley-Davidson        Tue, Jul 16  After the Bell    0.44
HCN    Health Care REIT       Tue, Jul 16  After the Bell    0.66
HNI    Hon Industries         Tue, Jul 16  Before the Bell   0.29
HCBK   Hudson City Bancorp    Tue, Jul 16  After the Bell    0.23
INTC   Intel                  Tue, Jul 16  After the Bell    0.11
JEF    Jefferies Group        Tue, Jul 16  Before the Bell   0.64
JNC    John Nuveen            Tue, Jul 16  Before the Bell   0.31
JNJ    Johnson & Johnson      Tue, Jul 16  Before the Bell   0.58
KEY    KeyCorp                Tue, Jul 16  Before the Bell   0.57
LLL    L-3 Comm Hldg          Tue, Jul 16  Before the Bell   0.47
MDC    M.D.C Holdings         Tue, Jul 16  Before the Bell   1.11
MEG    Media General          Tue, Jul 16  Before the Bell   0.65
MEL    Mellon Financial Corp  Tue, Jul 16  -----N/A-----     0.47
MER    Merrill Lynch          Tue, Jul 16  Before the Bell   0.58
MLNM   Millennium Pharm       Tue, Jul 16  After the Bell   -0.19
MIL    Millipore              Tue, Jul 16  After the Bell    0.46
MOT    Motorola               Tue, Jul 16  After the Bell   -0.04
MLI    Mueller Industries     Tue, Jul 16  Before the Bell   0.55
NXTL   Nextel Communications  Tue, Jul 16  Before the Bell  -0.25
PPP    Pogo Producing         Tue, Jul 16  -----N/A-----     0.38
PII    Polaris Industries     Tue, Jul 16  Before the Bell   0.81
PCP    Precision Castparts    Tue, Jul 16  Before the Bell   0.77
RJF    Raymond James          Tue, Jul 16  -----N/A-----     0.50
RFMD   RF Micro Devices       Tue, Jul 16  After the Bell   0.00
COL    Rockwell Collins, Inc. Tue, Jul 16  Before the Bell   0.32
RDC    Rowan Companies        Tue, Jul 16  Before the Bell  -0.11
PHG    Royal Philips          Tue, Jul 16  Before the Bell    N/A
STT    State Street           Tue, Jul 16  Before the Bell   0.52
SYK    Stryker                Tue, Jul 16  After the Bell   0.40
TDS    Telephone Data         Tue, Jul 16  Before the Bell   1.02
TER    Teradyne               Tue, Jul 16  After the Bell   -0.30
NLS    The Nautilus Group     Tue, Jul 16  After the Bell    0.64
NYT    The New York Times Co  Tue, Jul 16  Before the Bell   0.52
TRMK   Trustmark Corporation  Tue, Jul 16  -----N/A-----     0.48
TSS    TSYS                   Tue, Jul 16  -----N/A-----     0.15
USM    U.S. Cellular          Tue, Jul 16  Before the Bell   0.60
USB    US Bancorp             Tue, Jul 16  During the Market 0.45
VRTS   Veritas Software       Tue, Jul 16  After the Bell    0.14
WM     Washington Mutual      Tue, Jul 16  After the Bell    0.99
WFC    Wells Fargo            Tue, Jul 16  Before the Bell   0.82
WABC   Westamerica Bancorp    Tue, Jul 16  -----N/A-----     0.64
WHR    Whirlpool              Tue, Jul 16  Before the Bell   1.46

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

AMD    Advanced Micro Devices Wed, Jul 17  After the Bell   -0.45
ALEX   Alexander&Baldwin      Wed, Jul 17  After the Bell     N/A
ATI    Allegheny Technologies Wed, Jul 17  Before the Bell  -0.07
ADS    Alliance Data Sys Corp Wed, Jul 17  After the Bell    0.13
ABK    Ambac Financial        Wed, Jul 17  Before the Bell   1.12
ASD    American Standard      Wed, Jul 17  -----N/A-----     1.67
APH    Amphenol               Wed, Jul 17  -----N/A-----     0.45
AMR    AMR                    Wed, Jul 17  -----N/A-----    -2.99
ASML   ASML Holdings NV       Wed, Jul 17  Before the Bell  -0.11
ADP    Automatic Data Prcsng  Wed, Jul 17  After the Bell    0.47
BK     Bank of New York       Wed, Jul 17  Before the Bell   0.51
BA     Boeing                 Wed, Jul 17  Before the Bell   0.80
BOKF   BOK Financial          Wed, Jul 17  -----N/A-----     0.56
BCR    C.R. Bard              Wed, Jul 17  After the Bell    0.82
CSG    Cadbury Schweppes      Wed, Jul 17  Before the Bell    N/A
CDWC   CDW Computer Centers   Wed, Jul 17  After the Bell    0.48
CLS    Celestica              Wed, Jul 17  After the Bell    0.27
CD     Cendant                Wed, Jul 17  After the Bell    0.37
CTX    Centex Corporation     Wed, Jul 17  Before the Bell   1.26
CERN   Cerner                 Wed, Jul 17  After the Bell    0.31
CNF    CNF Inc.               Wed, Jul 17  After the Bell    0.36
CCE    Coca-Cola Enterprises  Wed, Jul 17  Before the Bell   0.39
CMA    Comerica               Wed, Jul 17  Before the Bell   1.00
DCN    Dana                   Wed, Jul 17  -----N/A-----     0.43
DPH    Delphi                 Wed, Jul 17  Before the Bell   0.39
DOV    Dover                  Wed, Jul 17  After the Bell    0.31
DSL    Downey Financial       Wed, Jul 17  Before the Bell   1.10
ET     E*TRADE                Wed, Jul 17  After the Bell    0.11
EXTR   Extreme Networks       Wed, Jul 17  After the Bell    0.03
FMBI   First Midwest Bancorp  Wed, Jul 17  -----N/A-----     0.46
F      Ford Motor Company     Wed, Jul 17  Before the Bell   0.26
FRX    Forest Laboratories    Wed, Jul 17  Before the Bell   0.58
GD     General Dynamics       Wed, Jul 17  Before the Bell   1.27
GENZ   Genzyme                Wed, Jul 17  Before the Bell   0.25
GPN    Global Payments        Wed, Jul 17  After the Bell    0.31
GGG    Graco                  Wed, Jul 17  Before the Bell   0.41
GBBK   Greater Bay Bancorp    Wed, Jul 17  Before the Bell   0.58
HET    Harrah`s Entertainment Wed, Jul 17  Before the Bell   0.70
HON    Honeywell              Wed, Jul 17  Before the Bell   0.55
HMT    Host Marriott REIT     Wed, Jul 17  Before the Bell   0.35
HI     Household Intl         Wed, Jul 17  Before the Bell   1.08
IDPH   Idec Pharmaceuticals   Wed, Jul 17  After the Bell    0.19
IBM    Intl Bus Machines      Wed, Jul 17  After the Bell    0.83
ITG    Investment Tech Grp    Wed, Jul 17  -----N/A-----     0.42
JPM    J.P. Morgan Chase & Co Wed, Jul 17  Before the Bell  0.65
KMI    Kinder Morgan          Wed, Jul 17  -----N/A-----     0.57
KRI    Knight-Ridder          Wed, Jul 17  Before the Bell   0.88
KFT    Kraft Foods Inc.       Wed, Jul 17  After the Bell    0.54
LEG    Leggett & Platt        Wed, Jul 17  After the Bell    0.31
LECO   Lincoln Electric       Wed, Jul 17  Before the Bell   0.46
LIN    Linens `n Things       Wed, Jul 17  Before the Bell   0.11
MAN    Manpower               Wed, Jul 17  Before the Bell   0.25
MDG    Meridian Gold          Wed, Jul 17  After the Bell    0.15
MEOH   Methanex               Wed, Jul 17  -----N/A-----     0.07
MCHP   Microchip Technology   Wed, Jul 17  After the Bell    0.15
NCF    Ntl Com Fncl Corp      Wed, Jul 17  During the Market 0.38
NATI   National Instruments   Wed, Jul 17  After the Bell    0.15
NAP    National Processing    Wed, Jul 17  Before the Bell   0.28
NYCB   New York Com Bancorp   Wed, Jul 17  Before the Bell   0.51
NOC    Northrop Grumman       Wed, Jul 17  Before the Bell   1.46
NUE    Nucor                  Wed, Jul 17  -----N/A-----     0.52
ODP    Office Depot           Wed, Jul 17  Before the Bell   0.20
PFE    Pfizer                 Wed, Jul 17  -----N/A-----     0.32
PPDI   Phar Product Dvlopmnt  Wed, Jul 17  After the Bell    0.31
PCL    Plum Creek Timber      Wed, Jul 17  After the Bell    0.26
PLCM   Polycom Incorporated   Wed, Jul 17  After the Bell    0.13
PGR    Progressive            Wed, Jul 17  After the Bell    0.80
PFGI   Provident Fnl Grp      Wed, Jul 17  Before the Bell   0.58
PEG    Public Service Ent Grp Wed, Jul 17  Before the Bell   0.68
RTN    Raytheon Co.           Wed, Jul 17  After the Bell    0.54
RSLN   Roslyn Bancorp         Wed, Jul 17  -----N/A-----     0.43
SIB    SI Bank & Trust        Wed, Jul 17  After the Bell    0.37
SEBL   Siebel Systems         Wed, Jul 17  After the Bell    0.09
SKYF   Sky Financial Group    Wed, Jul 17  -----N/A-----     0.39
SII    Smith International    Wed, Jul 17  After the Bell    0.27
SON    Sonoco Products        Wed, Jul 17  -----N/A-----     0.40
SOTR   SouthTrust             Wed, Jul 17  -----N/A-----     0.45
STJ    St. Jude Medical       Wed, Jul 17  Before the Bell   0.35
SWK    Stanley Works          Wed, Jul 17  Before the Bell   0.72
SYMC   Symantec               Wed, Jul 17  After the Bell    0.32
SNV    Synovus Financial      Wed, Jul 17  After the Bell    0.29
TCB    TCF Financial          Wed, Jul 17  Before the Bell   0.76
TFX    Teleflex               Wed, Jul 17  After the Bell    0.86
TLAB   Tellabs                Wed, Jul 17  Before the Bell   0.01
TIN    Temple Inland          Wed, Jul 17  -----N/A-----     0.37
KO     The Coca-Cola Company  Wed, Jul 17  Before the Bell   0.52
TBL    Timberland             Wed, Jul 17  Before the Bell   0.11
UB     UnionBanCal            Wed, Jul 17  After the Bell    0.80
UTX    United Technologies    Wed, Jul 17  -----N/A-----     1.20
UHS    Universal Health Srvcs Wed, Jul 17  After the Bell    0.64
VLY    Valley Ntl Bancorp     Wed, Jul 17  -----N/A-----     0.38
VFC    VF                     Wed, Jul 17  Before the Bell   0.63
WES    Westcorp               Wed, Jul 17  After the Bell    0.55
ZION   Zions Bancorp          Wed, Jul 17  After the Bell    0.90

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

ATR    AptarGroup             Thu, Jul 18  After the Bell    0.50
ACI    Arch Coal              Thu, Jul 18  -----N/A-----    -0.08
ARM    ArvinMeritor Inc.      Thu, Jul 18  Before the Bell   0.83
AF     Astoria Financial      Thu, Jul 18  Before the Bell   0.72
ATML   Atmel                  Thu, Jul 18  -----N/A-----    -0.05
ALV    Autoliv                Thu, Jul 18  Before the Bell   0.47
ACLS   Axcelis Technologies   Thu, Jul 18  After the Bell   -0.04
BXS    BancorpSouth           Thu, Jul 18  After the Bell    0.36
BAX    Baxter International   Thu, Jul 18  Before the Bell   0.48
BGEN   Biogen                 Thu, Jul 18  Before the Bell   0.30
BCC    Boise Cascade          Thu, Jul 18  Before the Bell  -0.05
BRCM   Broadcom               Thu, Jul 18  After the Bell   -0.07
BR     Burlington Resources   Thu, Jul 18  Before the Bell   0.36
ELY    Callaway Golf          Thu, Jul 18  After the Bell    0.43
POS    Catalina Marketing     Thu, Jul 18  After the Bell    0.18
CX     Cemex, S.A. de C.V.    Thu, Jul 18  -----N/A-----     0.73
CEN    Ceridian               Thu, Jul 18  Before the Bell   0.16
CF     Charter One Financial  Thu, Jul 18  After the Bell    0.63
CHRT   Chartered Semi Manu    Thu, Jul 18  After the Bell   -0.76
CFBX   Com First Bankshares   Thu, Jul 18  Before the Bell   0.48
ED     Consolidated Edison    Thu, Jul 18  -----N/A-----     0.50
CTB    Cooper Tire & Rubber   Thu, Jul 18  Before the Bell   0.48
CR     Crane                  Thu, Jul 18  After the Bell    0.41
CY     Cypress Semiconductor  Thu, Jul 18  Before the Bell  -0.07
CYT    Cytec Industries       Thu, Jul 18  After the Bell    0.42
DCX    DaimlerChrysler        Thu, Jul 18  Before the Bell   0.72
DHR    Danaher                Thu, Jul 18  -----N/A-----     0.65
DAL    Delta Air Lines        Thu, Jul 18  Before the Bell  -1.39
DLX    Deluxe                 Thu, Jul 18  Before the Bell   0.75
DL     Dial                   Thu, Jul 18  Before the Bell   0.32
DO     Diamond Offshore Drill Thu, Jul 18  Before the Bell   0.10
DOL    Dole Food              Thu, Jul 18  Before the Bell   1.01
EBAY   eBay                   Thu, Jul 18  After the Bell     N/A
ELUX   Electrolux Ab          Thu, Jul 18  -----N/A-----     0.77
LLY    Eli Lilly              Thu, Jul 18  Before the Bell   0.61
EMC    EMC                    Thu, Jul 18  Before the Bell  -0.02
ESV    ENSCO International    Thu, Jul 18  Before the Bell   0.13
FIC    Fair Isaac &Co         Thu, Jul 18  After the Bell    0.41
FMER   FirstMerit             Thu, Jul 18  Before the Bell   0.52
FO     Fortune Brands         Thu, Jul 18  Before the Bell   0.87
FCX    Freprt-McMoRan Cop/Gld Thu, Jul 18  Before the Bell   0.03
GTW    Gateway                Thu, Jul 18  After the Bell   -0.17
GPC    Genuine Parts          Thu, Jul 18  -----N/A-----     0.55
GP     Georgia-Pacific        Thu, Jul 18  Before the Bell   0.44
GDW    Golden West Financial  Thu, Jul 18  -----N/A-----     1.41
GDT    Guidant                Thu, Jul 18  After the Bell    0.49
HSC    Harsco Corporation     Thu, Jul 18  Before the Bell   0.69
HBAN   Huntington Bancshares  Thu, Jul 18  Before the Bell   0.32
ITW    Illinois Tool Works    Thu, Jul 18  Before the Bell   0.85
IR     Ingersoll-Rand Co. Ltd Thu, Jul 18  Before the Bell   0.72
IP     International Paper    Thu, Jul 18  Before the Bell   0.20
JEC    Jacobs Eng Grp Inc.    Thu, Jul 18  Before the Bell   0.50
JCI    Johnson Controls       Thu, Jul 18  Before the Bell   1.80
LM     Legg Mason             Thu, Jul 18  During the Market 0.68
LVLT   Level 3 Communications Thu, Jul 18  Before the Bell  -0.83
LIZ    Liz Claiborne          Thu, Jul 18  Before the Bell   0.35
LMT    Lockheed Martin        Thu, Jul 18  -----N/A-----     0.57
MAT    Mattel                 Thu, Jul 18  Before the Bell   0.05
MCDTA  McDATA Corporation     Thu, Jul 18  After the Bell   -0.07
MERQ   Mercury Interactive    Thu, Jul 18  After the Bell    0.14
MSFT   Microsoft              Thu, Jul 18  -----N/A-----     0.42
NBR    Nabors Industries      Thu, Jul 18  -----N/A-----     0.18
NCC    National City          Thu, Jul 18  Before the Bell   0.61
GAS    Nicor                  Thu, Jul 18  After the Bell    0.65
NOK    Nokia Corporation      Thu, Jul 18  -----N/A-----     0.17
NT     Nortel Networks        Thu, Jul 18  -----N/A-----    -0.09
OO     Oakley                 Thu, Jul 18  Before the Bell   0.31
PTEN   Patterson-UTI Energy   Thu, Jul 18  Before the Bell  -0.03
PBCT   People`s Bank          Thu, Jul 18  After the Bell    0.20
PSFT   PeopleSoft             Thu, Jul 18  After the Bell    0.13
MO     Philip Morris          Thu, Jul 18  -----N/A-----     1.23
PBI    Pitney Bowes           Thu, Jul 18  After the Bell    0.59
PMCS   PMC-Sierra             Thu, Jul 18  After the Bell   -0.08
PSD    Puget Sound Energy     Thu, Jul 18  After the Bell    0.22
QLGC   QLogic                 Thu, Jul 18  After the Bell    0.23
RATL   Rational Software      Thu, Jul 18  After the Bell    0.03
RHI    Robert Half Intl       Thu, Jul 18  After the Bell    0.02
RG     Rogers Communications  Thu, Jul 18  Before the Bell    N/A
TSG    Sabre Holdings Corp    Thu, Jul 18  Before the Bell   0.56
SANM   Sanmina-SCI Corp.      Thu, Jul 18  -----N/A-----     0.02
SCHL   Scholastic             Thu, Jul 18  -----N/A-----     1.25
SFA    Scientific-Atlanta     Thu, Jul 18  After the Bell    0.25
SEIC   SEI Investments        Thu, Jul 18  Before the Bell   0.30
SHW    Sherwin-Williams       Thu, Jul 18  Before the Bell   0.67
SIVB   Silicon Vly Bancshares Thu, Jul 18  -----N/A-----     0.33
LUV    Southwest Airlines     Thu, Jul 18  -----N/A-----     0.11
SOV    Sovereign Bancorp      Thu, Jul 18  After the Bell    0.31
FON    Sprint (FON Group)     Thu, Jul 18  Before the Bell   0.33
PCS    Sprint (PCS Group)     Thu, Jul 18  Before the Bell  -0.07
STU    Student Loan           Thu, Jul 18  After the Bell     N/A
SUNW   Sun Microsystems       Thu, Jul 18  After the Bell    0.01
SUP    Superior Industries    Thu, Jul 18  Before the Bell   0.71
SBL    Symbol Technologies    Thu, Jul 18  After the Bell    0.04
TE     TECO Energy            Thu, Jul 18  Before the Bell   0.54
TXT    Textron                Thu, Jul 18  -----N/A-----     0.76
MNI    The McClatchy Company  Thu, Jul 18  Before the Bell   0.77
TKR    Timken                 Thu, Jul 18  Before the Bell   0.27
TMK    Torchmark              Thu, Jul 18  Before the Bell   0.87
TAC    TRANSALTA CORP         Thu, Jul 18  -----N/A-----      N/A
TRB    Tribune                Thu, Jul 18  Before the Bell   0.45
TRW    TRW                    Thu, Jul 18  Before the Bell   1.09
UNP    Union Pacific          Thu, Jul 18  Before the Bell   1.06
UPC    Union Planters         Thu, Jul 18  After the Bell    0.62
UIS    Unisys                 Thu, Jul 18  After the Bell    0.13
UNH    UnitedHealth Group     Thu, Jul 18  Before the Bell   0.95
SLM    USA Education          Thu, Jul 18  Before the Bell   1.10
UTSI   UTStarcom              Thu, Jul 18  After the Bell    0.22
VRTX   Vertex Pharmaceuticals Thu, Jul 18  -----N/A-----    -0.28
WB     Wachovia               Thu, Jul 18  Before the Bell   0.69
WTNY   Whitney Holding        Thu, Jul 18  -----N/A-----     0.54
WL     Wilmington Trust       Thu, Jul 18  -----N/A-----     0.50
XLNX   Xilinx                 Thu, Jul 18  After the Bell    0.12

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

AKS    AK Steel Holding       Fri, Jul 19  -----N/A-----     0.02
AVP    Avon Products          Fri, Jul 19  Before the Bell   0.63
AVX    AVX Corporation        Fri, Jul 19  Before the Bell  -0.01
CUM    Cummins Inc.           Fri, Jul 19  -----N/A-----     0.19
ERICY  Ericsson LM Telephone  Fri, Jul 19  -----N/A-----    -0.03
FSS    Federal Signal         Fri, Jul 19  Before the Bell   0.24
MRK    Merck                  Fri, Jul 19  Before the Bell   0.76
PEP    Pepsico                Fri, Jul 19  -----N/A-----     0.52
VC     Visteon                Fri, Jul 19  Before the Bell   0.56
WPO    Washington Post        Fri, Jul 19  -----N/A-----     4.50
WIT    Wipro Limited          Fri, Jul 19  -----N/A-----     0.20
ZBRA   Zebra Technologies     Fri, Jul 19  Before the Bell   0.53

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

Symbol  Company Name              Ratio    Payable     Executable

KRB     MBNA Corporation          3:2      07/12       07/15
SBCF    Seacoast Banking Corp.    3:1      07/12       07/15
ERES    eResearchTechnology       3:2      07/16       07/17
REXL    Rexhall Industries        2:1      07/18       07/19
ANFI    American National Fin Inc.5:4      07/18       07/21
DSWL    Deswell Industries        3:2      07/22       07/23
CHS     Chicos FAS                2:1      07/26       07/29

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

While there is a full house of economic reports this week
they will all take a back seat to the flood of Q2 earnings
reports that will hit Wall Street.  Big boys like INTC on
Tuesday, IBM on Wednesday and MSFT on Thursday will be 
headliners.

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

Monday, 07/15/02
----------------
Business Inventories(BB)May  Forecast:  -0.1%  Previous:    -0.2%

Tuesday, 07/16/02
-----------------
Industrial Prduction(DM)Jun  Forecast:   0.4%  Previous:     0.2%
Capacity Utilization(DM)Jun  Forecast:  75.8%  Previous:    75.5%

Wednesday, 07/17/02
-------------------
Housing Starts (BB)     Jun  Forecast: 1.680M  Previous:   1.733M
Building Permits (BB)   Jun  Forecast: 1.660M  Previous:   1.676M

Thursday, 07/18/02
------------------
Initial Claims (BB)   07/13  Forecast:    N/A  Previous:     403K
Leading Indicators (DM) Jun  Forecast:  -0.1%  Previous:     0.4%
Philadelphia Fed (DM)   Jul  Forecast:   18.0  Previous:     22.2

Friday, 07/19/02
----------------
Trade Balance (BB)       May  Forecast:-$35.5B  Previous: -$35.9B
CPI (BB)                 Jun  Forecast:   0.1%  Previous:    0.0%
Core CPI (BB)            Jun  Forecast:   0.2%  Previous:    0.2%
Treasury Budget (DM)     Jun  Forecast: $25.7B  Previous:  $31.9B


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 

DORL    Doral Financial Corp       37.15     +2.01

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

PDLI    Protein Design Labs        10.95     +1.57
NPSP    NPS Pharmaceuticals        17.11     +2.07
IMPH    Impath Inc                 15.02     +2.03
EMBT    Embarcadero Tech            7.98     +1.23
CLTK    Celeritek Inc               8.66     +2.01

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

BRCM    Broadcom Corp              20.39     +1.62
CBH     Commerce Bancorp           46.15     +1.14
AOS     A O Smith Corp             32.10     +4.12
FCBP    First Community Bancorp    27.40     +1.15

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

RD      Royal Dutch                48.80     -1.76
PG      Proctor & Gamble           83.63     -2.32
PEP     Pepsico Inc                42.10     -1.30
KO      Coca-Cola Co               51.05     -2.06
HD      Home Depot                 29.09     -2.31
VZ      Verizon Communications     35.30     -2.30
WM      Washington Mutual Inc      32.85     -1.88
LOW     Lowe's Companies Inc       40.18     -3.02
LMT     Lockheed Martin            62.19     -3.81
DUK     Duke Energy Corp           24.75     -3.20
TXU     TXU Corp                   41.99     -2.41

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

LEN     Lennar Corp                55.75     -1.07




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