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Daily Newsletter, Wednesday, 07/24/2002

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PremierInvestor.net Newsletter              Wednesday 07-24-2002
                                                  section 1 of 2
Copyright  2001, All rights reserved.
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In section one:

Market Wrap:      Holy Cow! Look At That Market Go!
Watch List:       COX, QCOM, SYMC, TKTX, XOM 
Play of the Day:  - no p.o.d. for today.


*******************************************************************
MARKET WRAP  (view in courier font for table alignment)
*******************************************************************
07-24-2002               High    Low     Volume Advance/Decl
DJIA     8191.29 +488.95 8202.02 7532.66 3218 mln  1949/1269
NASDAQ   1290.23 + 61.18 1290.40 1192.42 2207 mln  2003/1443
S&P 100   419.98 + 23.23  420.48  384.96   totals  3952/2712
S&P 500   843.43 + 45.73  844.32  775.68
RUS 2000  378.56 + 14.57  378.56  354.11
DJ TRANS 2183.92 + 23.57 2190.48 2090.32
VIX        45.29 –  5.19   56.74   44.92
VIXN       65.59 –  0.80   69.73   64.55 
Put/Call Ratio 0.87
*******************************************************************

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

Holy Cow! Look At That Market Go!

Wow, could this get any more interesting?  In a HUGE short 
covering rally, the Dow closed up 488.95 points at 8191.29!  The 
S&P 500 gained +45.73 points, and the Nasdaq Composite rallied 
+61 points to close at 1290.23.  On the open, the Dow dropped 100 
points in the first few minutes and then traded down to 7532 
(-170 points), only to recover with buyers completely flooding 
the bids.  As soon as the Adelphia execs were shown being 
arrested on TV, the market took off, taking back some of the 
ground it had lost over the last two weeks.  The last time the 
market had a gain of this amplitude, was on March 16th, 2000, 
when at the top of the bull market, the Dow gained 499.19 points.  

Chart of: Dow Jones Industrial Average, Daily.



 



Volume surged on the day, with 3.2 billion shares exchanging 
hands on the NYSE, and 2.2 billion shares traded on the Nasdaq.  
The NYSE witnessed 1,949 advancers and 1,269 decliners, while the 
Nasdaq had 2002 winners and only 1443 losers.  

Events of the day:

A conference call early in the day from J.P. Morgan and 
Citigroup, helped to ease investor fears about the exposure both 
companies face to bankruptcies such as Enron.  JPM reiterated 
that they had adequate liquidity, and are not in danger of any 
immediate financial problems.  Both companies had been accused of 
helping Enron manipulate its financial statements.  J.P Morgan 
also stated that the financial powerhouse does not have 
accounting problems, and that it will have no problem signing off 
on the books when the August 14th deadline arrives.  J.P. Morgan 
closed at $23.30, up 16% for the day.      

Adelphia principals were paraded in front of investors as the 
Feds made high profile arrests.  Three members of the Rigas 
family, and two executives were charged with securities fraud.  
CNBC displayed video of John Rigas handcuffed and being led away 
in a police car... Those arrested were: John Rigas, Timothy 
Rigas, and Michael Rigas.  Executives J. Brown, and M. Mulcahey 
were also arrested and charged.  Attorney general Larry Thomson 
alleged that the defendants stole extreme amounts of cash and 
stock from the company.   

An initial bill on accounting oversight was approved by the House 
and Senate conference committee.  The bill protects investors by 
demanding accounting reforms for corporations.  Now that the bill 
has been initially approved, it will move to the full chambers 
for debate.   

DuPont (NYSE:DD) posted stronger than expected earnings, beating 
analysts expectations.  The company reported 54 cents per share.  
However, the company also warned that third quarter results could 
miss current forecasts.  

Dow component McDonald's (NYSE:MCD) beat estimates by a posting 
second quarter profits of 39 cents per share.  The hamburger 
giant said that lower costs and new restaurant openings helped 
pad weak sales.  McDonald's said that it expected growth in 
system wide sales for the year.  Oddly, MCD was the only Dow 
component to close in the red today.

Aflac (NYSE:AFL), the supplemental insurance provider, reported 
40 cents per share, 3 cents above analysts expectations.  The 
rise in earnings was attributed to a successful advertising 
campaign.  

Martha Stewart Living Omnimedia Inc (NYSE:MSO) warned, stating 
that it will not meet its previous guidance for the full year.  
Analysts had expected the company to report 15 cents a share for 
the third quarter.  MSO stated that the company now expects to 
post a meager six to seven cents per share.  The warning came in 
the midst of scandal, as Chairman and Chief Executive Martha 
Stewart is being questioned by federal investigators about her 
December stock sale.  On December 27, 2001, she sold 4000 shares 
of ImClone (Nasdaq:IMCL) prior to public disclosure that the 
company had been refused application review of its cancer drug 
Erbitux.  MSO said the insider-trading probe has caused the 
company to loose business and has caused weakness in the price of 
the stock.  

Just weeks after Warren Buffet and others piled cash into Level 3 
Communications (NYSE:LVLT), the company has made a $1.1 billion 
dollar bid for Williams Communications Group (NasdaqBB:WCGRO).  
Williams is also finalizing a deal with Leucadia National Corp. 
(NYSE:LUK), which would give bondholders control of the company 
as they emerge from bankruptcy court.  If accepted, the deal 
would pay off all of the debt Williams owes to banks, but would 
only cover a fraction of what is owed to bondholders and the 
parent company Williams Cos.     

Exxon Mobile was given a helping hand, as Banc of America 
upgraded the oil company to "strong buy" from "buy".  

Shares of America Online (NYSE:AOL) dropped as low as $10.40 
after-hours, as the company has become subject of an SEC 
investigation.  The company reported after the close today that 
it had posted a profit of 24 cents per share, beating estimates 
by 2 cents.  

The low down:

We had to rebound sometime.  Today's rally was not necessarily a 
huge surprise, as the markets have been so oversold.  With the 
Dow losing almost 27% since the middle of May, the bears have had 
quite a run.  However, to protect their profits the shorts had to 
cover sometime.  And that sometime was today.   

Our question at hand is this the bottom?  To begin, I would like 
to ask why it is that with one LARGE up day in the middle of a 
pile of down days, people start screaming, "bottom"?  OK, it can 
be said that the rally today did have VERY impressive volume, and 
quite a point gain from the low levels of the morning.  Further, 
our economy is stabilizing, if not improving, BUT...  We still 
face the upcoming August 14th deadline, where many companies HAVE 
to fess up, or sign off that their accounting methods are 
legitimate.  And that could be one heck of a volatile day.  
Further, even though the Feds have rounded up the Adalphia crew 
in circus fashion, it still does not change the fact that what is 
done, is done.  There could still be more companies with the same 
type of problems, which were committed in the past.  Finally, the 
greenback actually had a DOWN day today, losing strength on top 
of its rally over the last few days.  On the 10-Year note, 
treasury yields are still fading, indicating that there are still 
buyers of debt, not equity...  

Alrighty then, perhaps there are two arguments here.

The bull says:

Now look here "Mr. Short the Whole Market", you better start 
covering your positions, because this market is about to turn.  
The Dow has lost more than 27% since may, and is WAY oversold.  
You can only push good companies down so far.  Today the buyers 
were back, realizing that many great companies have been beat up 
for no reason at all.  For example take many of the oil stocks, 
like ExxonMobile and ChevronTexaco.  These are two great 
companies that have fallen victim to overall market pressure... 
After all, regardless if these companies ever have accounting 
problems, it still doesn't change the fact that they pay 
incredible dividends.  Next, just take a look at the $VIX.X, it 
is WAY over bought.  In fact, the Volatility index hasn't closed 
this high since 1987! Yes, that's right, the crash of 1987!  So 
you can see that the market is GOING to rebound, because the 
$VIX.X simply cannot go any higher.  

Chart of: Volatility Index, Daily.





Gold has been getting killed, which m
eans that the flight to quality is over.  Fair-weather gold bugs 
are realizing that gold is a unproductive asset, and they will 
never see any real return on their money.  

On a psychological level, investors finally see action by the SEC 
and Feds, with the arrests of those crooks over at Adelphia.  The 
top brass is going to jail for stealing from the little guy!  Now 
that we know the SEC will actually do something to fight 
corporate fraud, we are more than happy to believe the balance 
sheets once again.  The Senate and Congress have even moved a 
bill into the full chambers for debate.  Hey, these guys are 
actually doing something!     

Treasuries are way overbought, and investors are not going to 
settle for a measly 4.403% on the 10-Year note.  Investors will 
start to fade money out of the bond market, and back into the 
stock market, because in ten years you're going to have realized 
a whole heck of a lot more that 4.4%.  Evidence in this factor is 
in the 30-Year Treasury Note Yield closing up at 5.300%, and you 
said people were still buying bonds!?  

Even more convincing is the amount of volume that surfaced in 
today's market.  On the Big Board, up volume totaled 81% of all 
volume with a record of 2.75 billion shares traded.  Oh yea, 
that's the fourth day in a row that there has been over 2 billion 
shares traded.  Wait, isn't that what they call volume 
capitulation!?  

How about those rumors about a pending buyback by Microsoft too? 

And last but not least, Maria Bartiromo said yesterday on CNBC 
that we should start short selling stocks... If that's not the 
best indicator of a bottom, then I don't know what is!

Hey man, you better believe the bulls are back!!!  12,000 here we 
come.


The bear says:

Scoff!  You bulls, you have one little day of rally and all of a 
sudden the last two years never happened.  It's "buy, buy, buy", 
haven't you learned anything?  Even more hilarious is your three-
ring media circus, lead by Chicken Little himself....

If you think that toting away the Adelphia guys changes the 
fundamentals in the broader market, you're wrong.  All it does is 
make us temporarily forget about the real deal; we are still in 
the middle of a recession.  The 10-Year Treasury Note was still 
down, indicating more buyers in the debt market.  They still 
don't want you equity trash yet.

Yea, Gold is falling, but you just wait, the current pullback, is 
just that, a pullback.  The December gold futures (GC02Z) are 
right on the ascending support line, and are still prime for a 
rally.  

Chart of: Gold (Dec. 2002), Daily.





J.P. Morgan might be able to have a conference call that the best 
spin-doctor would be envious of, but it doesn't change the fact 
that their shareholders are suing them...  The big financial 
houses are not out of the woods yet.  How many million dollars 
losses can they take with all of these companies declaring 
bankruptcy after cooking the books?  Oh, yea, the books, remember 
those?  On August 14th, you might find safety in numbers, but it 
won't matter.  Many of these "good" companies are going to have 
to confess that their revenue is completely screwed up!  When 
they restate earnings, their P/E ratios are going to shoot 
through the roof, and the market will be even MORE overvalued at 
its current low levels.    

On that note, it's hard to get around the fact that the economy 
still stinks!  Consumer Sentiment is getting worse, while we are 
looming over a HUGE real-estate bubble.  Buckle your seat belt, 
because after that pops, it's going to be a bumpy ride to 
recovery.  

Let's not forget that many of the companies that have reported in 
the last two weeks have really poor future guidance.  They see 
continued weakness in the economy, and are still laying people 
off.  Take GE for example, the behemoth just cut another 2500 
jobs!  Hey, consumers can only live on severance for so long, and 
once that's gone... Hello debt city.  

Yes, the Volatility Index is super high, but that is just an 
indicator of how truly volatile we are.  Anything could happen, 
including a complete market crash, where the Dow fades to 6000!  

You just wait; we will cover our shorts and sucker you bulls back 
into the market.  And just when we hit the top of the descending 
channel, the resistance that the market has so reliability failed 
at, we will get short again.  Then, we will watch as you panic to 
sell your stocks, one after another!  You bulls never learn!  Dow 
6000, here we come.

So, who do you believe?  The bears or the bulls?

Mark Whistler
Editor  




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

COX Communications - COX - close: 24.51 change: +0.01

WHAT TO WATCH: COX barely avoided the dubious distinction of 
finishing today's session in the red.  Shares may have been 
pressured by the high-profile arrest of Adelphia executives and 
disappointing broadband numbers from AOL.  Given the recent 
bearish MACD crossover and downtrending daily stochastics, we 
believe COX is prone to more selling if the broader market resumes 
its losing ways.  Short entries could be gauged on a move under 
the 52-week low of $22.89.  We'd be expecting a short-term decline 
to the $20.00 area.  Note that COX announces earnings on July 
31st.




--- 

QUALCOMM - QCOM - close: 29.10 change: +1.08

WHAT TO WATCH: Although QCOM posted a 3.8% gain today, the stock 
was unable to buck its recent trend of lower highs.  Shares also 
underperformed the NASDAQ, perhaps owing to the fact that AWE (the 
nation's 3rd largest wireless operator) gave a bearish forecast 
for customer growth in 2002.  This news provided fresh evidence 
that the wireless sector is a long way off from a recovery.  With 
the 50-dma looming directly overhead at $29.61, QCOM looks prone 
to another round of selling if/when the NASDAQ rally fades.  Short 
positions could be evaluated on a rollover from current levels, 
with a stop just above psychological resistance at $30.00.


 

--- 

Symantec Corp - SYMC - close: 34.01 change: +3.27

WHAT TO WATCH: Although SYMC may be due for some backing and 
filling of today's 10.6% gain, we think a move to the $40 level 
could be in the cards.  Watch for a move break above the relative 
high of $35.40 to confirm that overhead congestion has been 
vanquished.  The bullish MACD and daily stochastic oscillators 
suggest that today's rally will have staying power.  Also, a trade 
at $36.00 will create a triple-top breakout on the p-n-f chart.




--- 

Transkaryotic Therapies - TKTX - close: 36.24 change: -1.66

Shareholders of TKTX may needing some stress management therapy 
after today's action.  In blatant disregard to the soaring biotech 
index (BTK.X), shares posted a 4.3% loss and closed under the 50-
dma at $36.63.  What's really concerning for the bears is the fact 
that today's decline came on the second-strongest volume of the 
year.  Our search for news to explain the selloff came up empty-
handed.  In light of these developments, traders might want to 
consider shorting TKTX on a move below $35.00.  This would open 
the door for a retest of near-term support at $32 or psychological 
support at $30. 




---

Exxon Mobil - XOM - close: 33.93 change: +3.01

WHAT TO WATCH: Whoa, nelly!  XOM exploded today by 9.7%, leading 
the Dow Jones to its second-largest point gain ever.  Obviously 
chasing this rally requires an aggressive strategy, but those 
willing to brave the risk of profit-taking can consider long 
entries on a move above today's high of $34.15.  With the MACD and 
daily stochastics beginning to emerge from oversold levels, XOM 
looks technically poised to quickly retest near-term resistance at 
$36.00.  Bulls have also got to love the fact that today's volume 
was the highest in the stock's history!


 


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

Due to the market volatility and the large expectation that
the markets could rollover again in the next session or two,
we're holding off on picking a play of the day for Thursday.



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Do not duplicate or redistribute in any form.





PremierInvestor.net Newsletter                Wednesday 07-24-2002
                                                    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/g24b_2.asp
=================================================================

In section two:
  
Active Trader Non-Tech Stocks 
  Play Updates:          DIA - new stop
  Closed Bearish Plays:  BLL, CAH, LOW

Net Bulls Tech Stocks
  Closed Bearish Plays:  MU

High Risk/Reward
  Play Updates:          DTCM - new stop, ISSX - triggered
  Closed Bearish Plays:  TSCO

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)



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

===============
AT Play Updates
===============  
 
Triggered Plays
---------------

Diamonds Trust - DIA - cls: 82.50 chg: +4.93 stop: 79.94 *new*

Excellent!  This play, an attempt to capture a bounce in the Dow 
Jones, was activated on Wednesday morning when the Industrials 
dipped to a multi-year low of 7532.  We were triggered when the 
DIA traded at $75.50.  Just as we had hoped, the Dow bounced 
explosively from the 7500 region and finished the day with a 
colossal 488-point gain.  We couldn't be happier with the way this 
play has progressed so far, but would hate to see these gains go 
up in smoke.  With this in mind, we're going to tighten our stop 
to 79.94.  We're also going to set an official profit target at 
$83.50, just under the top of the July 18th gap.  More aggressive 
traders could target the $85.00 level, but be aware that heavy 
profit-taking could set in at any time.





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

  -------------------
  Closed Bearish Play
  -------------------

Ball Corporation - BLL - cls: 37.23 chg: +3.85 stop: 35.01

Oh so close!  BLL dipped to a new multi-month low this morning and 
came within just 31 cents of our profit target.  Shares then 
rocketed higher with the broader market as shorts covered their 
positions en masse.  Our play was closed for a gain of 7.2% when 
BLL hit our stop at $35.01.  Given the strength of today's rally 
in both the Dow Jones and BLL, we wouldn't be surprised to see the 
stock continue higher in the near-term.  The daily stochastics, 
which are curling higher from the oversold extreme, support this 
notion.  In related news today, Ball announced this afternoon that 
its Board of Directors had declared a regular cash dividend of 9 
cents/share, payable on September 16th to shareholders of record 
on September 3rd.  This may have helped to fuel BLL to its 11.5% 
gain.

Picked on July 18th at $37.74
Change since picked:    +2.73
Earnings Date        07/24/02 (confirmed)




--- 

Cardinal Health - CAH - close: 51.25 change: +2.17 stop: 51.26

The short gap lower made trading bearish positions in CAH a 
difficult proposition this morning.  Our play, however, was 
triggered at the opening price of $46.60.  Shares then reversed 
with the broader market and finished with a 4.7% gain, closing 
well above our stop-loss at $51.26.  Our play was closed for a 10% 
loss.  Given the widespread nature of today's short-covering 
event, it's difficult to make much of CAH's rebound.  On a 
technical basis, the close above $50.00 and strong volume is a 
sign that the bears may be in retreat.  Shares could easily trade 
back to near-term resistance at $55.00 before we see selling 
pressure rematerialize.

Picked on July 24th at $46.60
Gain since picked:      -4.66
Earnings Date        08/06/02 (unconfirmed) 




---

Lowes Companies - LOW - cls: 37.50 chg: +3.28 stop: 36.51

Shares of LOW hit a new relative low of $32.70 this morning.  Of 
course, you probably already know the rest of the story.  Like the 
vast majority of other stocks, shares traded sharply higher with 
Dow Jones and hit our stop at $36.51.  Our play was closed for a 
3.5% gain.  Although the sustainability of today's enormous short-
covering rally in the Dow Jones is questionable, the bears are 
clearly on the defensive.  Further broader market bullishness 
could propel LOW to the $40.00 region in rapid fashion.  A failed 
rally at this level may provide another opportunity to short the 
stock.

Picked on July 18th at $37.85
Gain since picked:      +1.34
Earnings Date         8/19/02 (unconfirmed)






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

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

  -------------------
  Closed Bearish Play
  -------------------

Micron Tech - MU - close: 21.75 change: +1.80 stop: 21.01 

We were feeling optimistic about this short play after the SOX.X 
broke under support at 345.  That optimism seemed well-founded 
this morning when MU broke under psychological support at $20.00 
and tagged a new relative low.  However, shares then proceeded to 
shoot higher with the NASDAQ, and eventually violated our stop-
loss at $21.01.  Our play was closed for a loss of 5.1%.  
Although MU was not able to break out of its week-long downtrend, 
the daily stochastics (5,3,3 setting) are hinting at a move out 
of the oversold region.  This suggests that shares could rally 
back to the 50-dma ($22.18) or short-term resistance near $24.00.
For shorts still in this position, we would recommend being very 
careful while holding under such volatile conditions.  Keep stops 
tight and watch the 50-dma overhead!

Picked on July 23rd at $19.99
Change since picked:    -1.02
Earnings Date        08/24/02 (confirmed)
 






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

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

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

Documentum - DCTM - close: 15.50 change: +1.25 stop: 14.99 *new*

DCTM launched higher by 8.7% today and outperformed the NASDAQ.  
This came as no surprise, given the stock's recent trend of 
relative strength.  In light of today's gains, we're going to 
tighten our stop to $14.99.  This will force shares to trade under 
psychological support at $15.00.  We're also going to set an 
official profit-target of $17.25, slightly under the 200-dma.




Triggered Plays
---------------

Internet Sec. - ISSX - cls: 15.27 chg: +2.06 stop: 14.49 *new*

Our criterion for entering a bullish play in ISSX - a trade at 
$15.01 - was satisfied on Wednesday afternoon.  The stock 
explosively responded to the broader market short-covering rally 
and finished with a gain of 15.6%.  Not bad for a day's work!  In 
light of today's rally, we're going to tighten our stop to $14.49, 
just under previous resistance (which will hopefully now act as 
support). We are encouraged to see the Stochastics crossing above 
the upper line, along with the MACD trending back to the 0 line.  
Traders should be disciplined with their stops.  ISSX has shown 
great relative strength but this rally could run out of steam.  
Don't be caught off guard.





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

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

Tractor Supply - TSCO - close: 52.51 change: -2.31 stop: 55.11

Well, we knew from the get-go that shorting TSCO above $50.00 was 
a high-risk/high-reward proposition.  Unfortunately, today's 
action really put an emphasis on the "risk" aspect of our play.  
We were triggered this morning when TSCO opened at $52.10. A 
decline to $50.77 is all the bears could muster before the shares 
were caught in the grasp of the widespread short covering rally.  
TSCO accelerated to the upside during the final hour of trading 
and hit our stop at $55.11.  Thus, our play was closed for a loss 
of 5.7%.  In light of today's strong volume and bullish daily 
stochastics, we would not recommend holding any short positions at 
current levels.  However, TSCO is still overbought on a long-term 
basis.  A failed rally near $60.00 might have us considering 
another short play.

Picked on July 24th at 52.10
Change since picked:   -3.01
Earnings Date       07/15/02 (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 
---------------------------------   

YUM     Yum! Brands Inc.           28.88     +2.89
ARM     Arvinmeritor Inc.          20.20     +0.63
COLM    Columbia Sportswear Co.    31.07     +0.57
GBCI    Glacier Bancorp Inc.       23.29     +2.41

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

HLT     Hilton Hotels              11.43     +1.02
GT      Goodyear                   16.96     +1.71
JKHY    Jack Henry & Associates    14.44     +1.13
NBTY    Nbty Inc                   15.12     +1.17
FILE    Filenet Corporation        14.38     +1.27

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

PG      Procter & Gamble           82.25     +3.04
MMM     3M Corporation             119.72    +7.96
TEF     Telefonica S.A. ADR        29.64     +4.53
APOL    Apollo Group Inc. Class A  36.71     +3.03
SYMC    Symantec Corporation       34.01     +3.27
LIZ     Liz Claiborne Inc.         27.96     +1.90
LEA     Lear Corporation           41.58     +2.93

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

ACL     Alcon Inc.                 27.66     -1.14
TKTX    Transkaryotic Therapies    36.42     -1.66
ROAD    Roadway Express Inc.       29.26     -1.16
DTG     Dollar Thrifty Auto Group  20.02     -1.93
EASI    Engineered Support Systems 42.90     -2.09

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

..None..


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