PremierInvestor.net Newsletter Wednesday 07-24-2002 section 1 of 2 Copyright © 2001, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= To view this email newsletter in HTML format with imbedded charts and graphs, click here: http://www.PremierInvestor.net/htmlemail/g24b_1.asp ================================================================= 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. ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright © 2001 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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.. ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright © 2001 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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