PremierInvestor.net Newsletter Monday 08-12-2002 section 1 of 2 Copyright ) 2002, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= In section one: Market Wrap: The Fed Ahead Watch List: ADBE, BRCD, DAL, EBAY, EXPE, JPM, and more! Play of the Day: Waiting on The Fed ****************************************************************** MARKET WRAP (view in courier font for table alignment) ****************************************************************** 08-12-2002 High Low Volume Advance/Decl DJIA 8688.89 -56.56 8742.06 8582.01 1223 mln 1410/1674 NASDAQ 1306.84 + 0.72 1311.43 1286.91 1053 mln 1562/1710 S&P 100 407.88 -15.22 426.21 405.47 totals 2972/3384 S&P 500 903.80 - 4.84 908.64 892.38 RUS 2000 388.56 + 0.11 389.51 383.56 DJ TRANS 2308.67 -42.98 2350.58 2277.32 VIX 40.46 + 1.10 42.90 39.98 VIXN 56.29 - 2.41 59.13 56.09 Put/Call Ratio 0.74 ****************************************************************** =========== Market Wrap =========== Today's session was characterized by light trading, marking investor uncertainty on the toes of tomorrows FOMC meeting. The Dow Jones Industrial Average seemed to struggle all day, ending down -56.56 points at 8688.89. The Nasdaq traded seemingly flat, finishing the session +0.72 up, closing out at 1306.84. Volume for the NYSE trickled in at 1.2 billion shares, while the Nasdaq traded a mere 1.0 billion shares. The day was characterized by light selling, with the Dow Jones Transportation sector falling off -1.82%, and the Dow Jones U.S. Home Construction Index closing down -1.55%. The Semiconductor Index dropped -3.84 points with bad news and downgrades in the sector. Solomon Smith Barney, citing a sluggish pickup in PC component sales, cut Intel estimates this morning. Applied Materials (Nasdaq:AMAT) reports quarterly earnings tomorrow afternoon, and is expected to either meet or beat analyst expectations. However, Prudential Securities said today that it will cut their 12 month price target on AMAT from $27.00 to $21.00. Martha Stewart still continues to have problems with investigators, as her story reportedly keeps changing. She faces charges of insider trading after she allegedly sold 400 shares of ImClone shares prior to the public announcement of an FDA ruling. CNBC reported today that she saved $43,000.00 by dumping her stock prior to the announcement, but has spent much more than that in legal fees since. ImClone Systems Inc (NASDAQ:IMCL) chief executive Samuel Waksal pleaded innocent to insider trading and fraud charges this morning. After his appointment in court, he spoke publicly for the first time since his arrest two moths ago. His pre-written speech commented that his personal problems should not detract from the future possibilities of the biotech company, or the development of ImClone's cancer drug Erbitux. Prosecutors had originally tried to setup a plea-bargain agreement, which would have required Waksal to exchange information with authorities about insider trading information that he distributed to family and friends. If convicted, Mr. Waksal could potentially spend the rest of his life in jail. In other news today, Crude Oil prices jumped on fears that tension between Iraq and the U.S. are growing. U.N. workers were turned back while attempting to inspect weapons after being absent from Iraq for the last four years. Oil futures rose +0.89 to close at $27.75. Complicating the situation, Saudi Arabia has publicly stated that it will not allow the U.S. to use its land for military bases. Given the days events, the Oil Services Index closed up +2.51%, and the Oil Index fell -0.48%. US Airways (NYSE:U) filed for chapter 11-bankruptcy protection yesterday, attempting to fend off creditors while the airline develops a plan for restructuring. Credit Suisse First Boston, Bank of America, and Texas Pacific provided 500 million in debtor-in-possession financing to keep the company temporarily operational. In the bankruptcy petition filed in Virginia, US Airways stated $7.81 billion in assets, and $7.83 billion in liabilities. US Airways is targeting a potential re-emergence from bankruptcy in the first quarter of 2003. In tomorrow's trading all eyes will certainly be on the Fed, as they announce their decision on interest rates around 2:15pm EST. Analysts and economists are mixed on which direction the Fed will go, but given the weakness in the financials today, some could infer that a large cut might be out of the question. The Fed is under pressure to balance the flailing economy, while also trying to keep inflation from rising. With GDP numbers having recently been revised, the economy seems to be weaker than previously thought. Table of 2001 & 2002 FOMC Rate Announcements Date Rate Bias Jan 03, 2001 6.00% Weakness Jan 31, 2001 5.50% Weakness Mar 20, 2001 5.00% Weakness Apr 18, 2001 4.50% Weakness May 15, 2001 4.00% Weakness Jun 27, 2001 3.75% Weakness Aug 21, 2001 3.50% Weakness Sep 17, 2001 3.00% Weakness Oct 2, 2001 2.50% Weakness Nov 6, 2001 2.00% Weakness Dec 11, 2001 1.75% Weakness Start of 2002 1.75% Weakness Jan 30, 2002 1.75% Weakness Mar 19, 2002 1.75% Neutral May 7, 2002 1.75% Neutral Jun 26, 2002 1.75% Neutral Aug 13, 2002 ---- ---- ---- In light of recent events, some economists think a 25 basis point cut is reasonable and even expected. However, the current Fed Funds Futures are factoring a current probability of less than 30% that rates will be cut at all tomorrow. The same futures are predicting just under a 70% chance that rates will be cut in January. The Fed has stated in the past that it thinks the economy is expanding, though potentially at a slow rate. Chart of: Dow Jones Industrial Average, Daily. The Dow Jones is definitely at a critical juncture today, trading almost exactly at descending channel resistance. With the Dow also trading at horizontal resistance and the 38.6% Fibonacci retracement number, the FOMC meeting tomorrow seems to have spooky timing. Tomorrows trading could confirm another leg of a bull run, or the power of trend lines and Fibonacci numbers could push the Dow down once again. Of slight concern, the daily Stochastics (14,1,3) are in overbought territory, and could seemingly fall lower. Thus, speaking purely of technicals, we have two resistance lines, a Fibonacci number, and the daily Stochastics indicating that the Dow could be due for a pullback. On the other side of a coin, we have a potential rate cut looming over our heads. So, what happens if we do actually get the rate cut and how would the market react? Impact from a quarter point (or less) cut would depend on the Fed's bias towards the future. If the Fed were to cut rates 25 basis points and then infer a weakening bias, the market would most likely sell off. Below is a table of potential situations and is simply an assumption of what "could" happen Even if something "predictable" happens, the market is sometimes irrational at times and almost any outcome could surface. Thus, the situations presented are not the holy grail of Fed outcomes, and should be taken with a grain of salt. Rate Change Bias Potential Results -50 Weakness Rally -50 Loosening/Easing Rally -50 Neutral Rally -50 Tightening NA* -50 Inflation NA* -25 Weakness Sideways Trading or Rally -25 Loosening/Easing Sideways Trading or Rally -25 Neutral Sideways Trading/Rally/Sell-off -25 Tightening NA* -25 Inflation NA* 0 Weakness Sideways Trading or Sell-off 0 Loosening/Easing Sideways Trading or Sell-off 0 Neutral Sideways Trading or Sell-off 0 Tightening NA 0 Inflation Sell-off +25 Weakness NA* +25 Loosening/Easing NA* +25 Neutral Sell-off +25 Tightening Sell-off +25 Inflation Sell-off +50 Any Watch your pants, big sell off. * Indicates a scenario that has conflicting information between a rate change and bias, thus the scenario will most likely not happen. A rate cut of 50 basis points would stimulate more borrowing activity, but it would also leave the Fed with less to work with if something disastrous happened. In August of 2001, the Fed Funds Rate was 3.50%. Following the events on September 11th, the Fed quickly announced an emergency cut of 50 basis points on September 17th, which brought the Fed Funds Rate to 3.00%. After the initial post September 11th reduction, there were three more cuts bringing the rate to its current level of 1.75%. If the Fed cuts rates 50-basis points tomorrow, the FOMC would only leave itself two 50-basis point cuts and one 25-basis point cut before the Fed Funds rate is at 0. Or, it would only have 7 possible 25 basis point cuts. If disaster struck, (possibly another terrorist attack) and the markets began to crumble once again, the FOMC would have to step in with a 50-basis point reduction. Thus, an emergency rate cut could then bring the Fed Funds rate to beneath 1%... Factoring inflation into the picture, a rate below 1% is almost giving away money on the Fed's behalf. Thus, a half point cut might be irrational if the Fed wishes to preserve its economic ammo for any future problems. A quarter point cut is more reasonable with a neutral or loosening bias. However, do not forget that there is a substantial camp of economists who think that no rate cut will surface in tomorrows meeting. "A clay pot sitting in the sun will always be a clay pot. It has to go through the white heat of the furnace to become porcelain." - Mildred Wite Stouven Things in this Bear market are certainly getting tricky. We must stop and ask ourselves what we have learned? By simply doing so, we realize that we have been through the white heat of the furnace. After tomorrow, we will all be one day closer to becoming porcelain. Editor Mark Whistler Comments or questions, please email: mwhistler@PremierInvestor.net ================================================================== 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 --------------------------------- Adobe Systems - ADBE - close: 18.10 change: +0.39 WHAT TO WATCH: ADBE displayed relative strength today, perhaps owing to the company's announcement that it would certify its financial statements. The past week has seen shares steadily trend higher, while the p-n-f chart has reversed into a column of "X's." The stock is now approaching the bottom of its sizable August 1st gap at $18.40. A move above this mark would clear the way for a test of psychological resistance at $20.00. A continued uptrend in the NASDAQ could even see ADBE reach the top of the gap near $24. The recent declining volume is of some concern, but that trend seems to have been broken by today's action. --- Brocade Communications - BRCD - close: 14.76 change: -0.60 WHAT TO WATCH: The storage sector continues to be pressured by Friday's earnings warning from ELX. BRCD has violated psychological support at $15.00 and is in danger of falling under the multi-month low at $14.16. Bearish traders can watch for a move below this level, which would pave the way for a retest of the 52-week low at $12.60. Technically, the wavering daily stochastics and descending triple-bottom p-n-f breakdown do not bode well for the bulls. A failed rally at $15.00 may also provide a shorting opportunity. --- Delta Airlines - DAL - close: 14.03 change: -0.57 WHAT TO WATCH: The XAL.X airline index was rocked for a 7.56% loss today after US Airways filed for Chapter 11. Bankruptcy lawyers are circling like sharks around UAL, awaiting a similar move from the world's second-large airline. It's gotten so bad at United that the company is asking Uncle Sam for a $1.8 billion loan. In light of the continued flood of negative sector news, we think it's just a matter of time before the XAL.X breaks to new all-time lows. DAL looks like a good way to short the group because it offers a clearly-defined action point and is not technically oversold (as shown by the daily stochastics). Aggressive traders can target bearish entries at current levels, while others could wait for shares to fall under the multi-year low at $13.20. P-n-f chartists will be interested to know that a trade at $13.00 will create a triple-bottom sell signal. --- eBay Inc - EBAY - close: 57.96 change: +0.74 WHAT TO WATCH: EBAY has posted some decent gains over the past week and is sitting just below its 200-dma at $58.45. Considering that bearish p-n-f resistance lies at $59, we think the bears won't give up this level without a fight. The daily stochastics have reached the overbought region, suggesting that the latest uptrend may have its run its course. Aggressive entries can be gauged at current levels with a stop just above $59.00. The bulls, however, will argue that the recent positive MACD crossover and today's relative strength are indications that EBAY will rise above resistance. Traders could actually target long positions if shares break above $59. Such a move would clear the way for a test of the July highs near $62.50 or the June highs at the $64 level. --- Expedia Inc - EXPE - close: 49.59 change: -0.42 WHAT TO WATCH: It looks like EXPE is at a critical pivot point. There are multiple ways to play the stock, regardless of which direction it takes. EXPE has rallied nicely over the past week but is now sitting just under resistance at $50.00. A break above this level may create another wave of short-covering. The 200-dma at $55.25 provides a profit target to shoot for. On the other hand, EXPE has yet to break out of its longer-term downtrend. A rollover from current levels could send the stock back into its descending channel. Watch for a move below $47.50 to confirm bearish conviction. We'd be looking for a near-term decline to the $45 region. --- J.P. Morgan Chase - JPM - close: 25.46 change: -0.89 WHAT TO WATCH: Shares of JPM have rallied nearly 40% from their July 24th lows of $18.22. That's quite a move...But are these gains sustainable? We think not. Although a retest of the July lows is probably unlikely, the stock seems overdue for some backing and filling. JPM traded higher last week in response to the International Monetary Fund's bailout of Brazil. This news created a gap on August 8th that has yet to be filled. If the broader market reacts negatively to the Fed's interest rate decision, we could quickly see shares retreat back to the $22 region. Short entries could be considered at current levels, but only after the FOMC has announced its decision around 2:15 EST. --- MGM Mirage - MGG - close: 36.50 change: +0.72 WHAT TO WATCH: MGG rebounded smartly from its July lows and has recently been trading relatively strong versus the broader market. A continued uptrend could lead to an eventual retest of the 52-week highs near $42. Bullish positions could be considered if MGG breaks above near-term resistance at $36.75. A trade at $37.00 will create a double-top point-and-figure buy signal. Bears will point out that volume has been steadily declining over the past week, but today's action has put an end to that pattern. Ideally, a move above resistance would be accompanied by a continued ramp up in volume. However, keep in mind that the Stochastics are near the top of the overbought region, and could foreshadow a potential pullback. --- National Semiconductor - NSM - close: 16.52 change: -0.89 WHAT TO WATCH: A plethora of negative news stories pressured the chip sector today. Barron's cover featured sell recommendations on INTC, AMAT, MU, and TXN. Solomon Smith Barney cut their Q3 estimates on INTC this morning, while Prudential Securities slashed their 12-month price target on AMAT. All things considered, it's actually surprising that the SOX.X (semiconductor index) only registered a 1.2% loss. Perhaps bears were reluctant to take positions ahead of Tuesday's Fed meeting. If a chip sell-off ensues, there's not much to prevent NSM from falling below its 52-week low at $15.63. A move below this level would provide a possible action point to go short. Psychological support at $15.00 may be obliterated if the SOX.X violates its multi-year low at 282. --- Toys R US - TOY - close: 12.26 change: -0.43 WHAT TO WATCH: Banc of America Securities issued a "Market Perform" rating on TOY this morning. Judging by the stock's 3.3% loss, investors were not impressed by this news. Shares are flirting with near-term support at $12.00 and are in danger of falling below the 52-week low at $11.82. If this level falls, there's little to prevent a test of psychological support at $10.00. On a sector-related note, the RLX.X retail index has not reacted very favorably to the latest round of economic data. A negative reaction to tomorrow's FOMC meeting could send the index back to the critical 250 support level. ============================================ Play-of-the-Day (Active Trader BEARISH play) ============================================ Autozone Inc - AZO - close: 65.25 change: -2.03 stop: 68.11 *new* Company Description: Ball Corporation is one of the world's leading suppliers of metal and plastic packaging to the beverage and food industries. The company also owns Ball Aerospace & Technologies Corp. Ball reported 2001 sales of $3.7 billion, of which approximately $3.3 billion came from its packaging segment and $400 million from its aerospace and technologies segment. (source: company press release) - ORIGINAL WRITE UP: August 2nd, 2002 - Why we like it: Examining the stock on a year to date basis, AZO looks like a strong performer...But we think some profit-taking could be in the cards. With a weakening Dow, the drop under the 200-dma could cause this stock to fumble. First, the bears should be encouraged by AutoZone's recent failure at the 200-dma. The average currently sits at 70.17, roughly two points above where the stock is now. The rebound rally off of the July 24th low carried itself directly into the 50-dma; where it failed right on queue. The Stochastics also trended into overbought territory, and have recently fallen out of the upper region. Other than the Auto Sales numbers yesterday, AZN has no noteworthy news in the last few days which would affect the stocks performance. Further, we do not have to worry about earnings, as the company does not report until September. Short at current levels, out plan for this trade is fairly simple. Our initial stop is at $71.01, 16 cents above today's high and one penny above the psychological whole number. Of course, if the stock begins to move in our direction, we will immediately trail our stop down to protect our position from unnecessary losses. The profit target for this short trade is $61.05, slightly above support and 5 cents above the whole number. Our reasoning behind inserting a nickel above $61.00 is that other traders will be trying to exit at the whole number. This way, we could presumably beat the crowd to the punch. - Most Recent Update: August 9th, 2002 - AZO closed the week out on a positive note, as shares outpaced the Dow Jones and posted a 1.32% gain. There wasn't any news to explain this relative strength, but we did notice similar moves in fellow auto parts retailers SAH, and DPH. AZO traded an Inside Day and stayed well within the previous day's range. The mixed oscillators make it difficult to gauge where the stock is headed next, but we believe a broader market sell-off in response to Tuesday's Fed meeting could lead to heavy selling in AZO. Aggressive traders can target new entries on a break under today's low ($65.31) or Thursday's low at $64.50. - Play-of-the-Day Comments: August 12th, 2002 - The consensus here at the Premier Investor office seems to be that tomorrow's interest rate decision will trigger a broader market sell-off. Far be it for us to second-guess Morgan Stanley, but we think the chances of a rate cut are pretty slim. Given the fact that the Dow Jones is sitting on some huge gains from last week and hasn't broken above its descending trendline, it seems likely that disappointed investors will use the lack of a rate cut as an excuse to take some of their recent gains off the table. AZO is one of the weaker looking stocks on our Play List and could really take it on the chin if the market does head lower on Tuesday. The stock descended by 3.0% on Monday and is in danger of falling below the relative low of $64.50. A break below this level, combined with a Fed-induced broader market sell-off, could have the stock testing the $60 region within a matter of days. Of course, we would not recommend taking new entries ahead of the FOMC announcement. Also note that we've moved our stop-loss down to $68.11, slightly above last Thursday's high. Picked on July 25th at $67.96 Results since picked: +2.71 Earnings Date 09/24/02 (unconfirmed) ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright ) 2002 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Monday 08-12-02 section 2 of 2 Copyright ) 2002, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= In section two: Stock Bottom / Active Trader Stop Adjustments: AZO Closed Bearish Plays: ETR High Risk/Reward Triggered Plays: RKY Closed Bearish Plays: MOVI 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) ================================================================== Stock Bottom / Active Trader (AT) section ================================================================== =============== AT Play Updates =============== Stop Adjustments ---------------- Autozone Inc - AZO - close: 65.25 change: -2.03 stop: 68.11 *new* AZO descended by 3.0% on Monday and is in danger of falling below its relative low of $64.50. A break below this level, combined with a Fed-induced broader market sell-off, could have the stock testing the $60 region within a matter of days. Of course, we would not recommend taking new entries ahead of the FOMC announcement. Also note that we've moved our stop-loss down to $68.11, slightly above last Thursday's high. =============== AT Closed Plays =============== Closed Bearish Plays -------------------- Entergy Corp - ETR - close: 42.19 change: +1.14 stop: 42.26 Shares of ETR saw early weakness in Monday's session and gapped below our entry trigger at $40.99. Our play was activated at the opening trade of $40.89. In a frustrating development, shares then proceeded to move back above the $41 level and uptrend for the rest of the day. Our play was stopped out for a 3.3% loss when ETR reached our stop at $42.26. Today's reversal may be only temporary if the broader market sells off this week, but at this point it seems the bulls are still in control. Today's successful test of the 50-dma ($40.62) and close above the 200- dma ($41.22) are signs that the rollover we were looking for may not materialize. Thus, we would not recommend holding short positions at this time. Picked on August 12th at $40.89 Results since picked: -1.37 Earnings Date 07/30/02 (confirmed) ================================================================== HIGH RISK/HIGH REWARD (HR) section ================================================================== =============== HR Play Updates =============== Triggered Plays --------------- Adolph Coors - RKY - close: 61.03 change: -2.43 stop: 61.26 *new* Apparently we aren't the only ones who hold a bearish outlook on RKY. UBS Warburg downgraded the stock this morning, citing its belief that domestic sales are continuing to weaken. Shares gapped lower on the news and began trading well below our entry trigger at $63.26. Our play was activated at the opening price of $60.50. Based on our lower-than-expected entry point, we're going to immediately tighten our stop to $61.26, slightly above today's high. Now that we've entered this hypothetical short trade, we'll be looking for RKY to move below the 50-dma ($60.16) and 200-dma ($59.44). Keep in mind that this play will be closed if shares trade at or below $57.51. =============== HR Closed Plays =============== Closed Bearish Plays -------------------- Movie Gallery - MOVI - close: 13.92 change: +0.20 stop: 14.10 With the bears staging a full retreat on Friday, MOVI rose to within striking distance of our stop at $14.10. A continuation of this rally saw shares move above this level at the tail end of today's session. Our play was stopped out for a loss of $1.61, or 12.8%. We'll keep MOVI on our radar screens, as an eventual move under support at $12.00 would be decidedly negative. Bears can be encouraged by the fact that the recent uptrend has not been accompanied by strong volume. However, the MACD and daily stochastics are hinting at further bullish action. Given the stock's relative strength and uptrending oscillators, a near-term retest of the $15.00 level appears likely. Picked on August 7th at $12.49 Results since picked: -1.61 Earnings Date 08/06/02 (confirmed) ================= Trading Ideas ================= This section contains stocks that meet criteria which may make them of interest to long and short side traders. These are not recommendations, nor have they been reviewed by PremierInvestor editors for investment potential. However, each of them has technical and fundamental characteristics that make them worthy of further review by traders and investors looking for fresh ideas. New stocks will appear daily following the market close. Value Plays With Bullish Signals --------------------------------- Ticker Company Name Close Change XEL Xcel Energy Inc. 10.60 +1.57 REI Reliant Energy Inc. 11.55 +0.63 LANC Lancaster Colony Corp 38.12 +0.68 FHR Fairmont Hotels 25.42 +0.66 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- Ticker Company Name Close Change OSTE Osteotech Inc. 10.55 +1.56 MSTRD Microstrategy Inc 8.40 +1.35 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- Ticker Company Name Close Change AMSG Amsung Corporation 31.60 +1.75 UCBH Ucbh Holdings 42.06 +1.40 TTC Toro Corp. 52.00 +2.10 CHTT Chattem Inc. 36.66 +2.61 WTW Weight Watchers Intl. 44.92 +1.22 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change MYG Maytag Corporation 29.81 -1.56 CERN Cerner Corporation 36.52 -1.47 KWD Kellwood Corporation 24.95 -1.20 TGIC Triad Guaranty Inc. 41.90 -3.36 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change TPP Teppco Partners 29.77 -0.25 HCN Health Care REIT 28.50 -0.30 PROV Provident Financial 21.55 -0.85 ================================================================= 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 ) 2002 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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