PremierInvestor.net Newsletter Monday 08-19-2002 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: Technically Developmental Watch List: AAPL, GENZ, MERQ, MSFT, NVLS, T, and more... Play of the Day: Breakout Looming ****************************************************************** MARKET WRAP (view in courier font for table alignment) ****************************************************************** 08-19-2002 High Low Volume Advance/Decl DJIA 8990.79 +212.73 8994.12 8753.52 1536 mln 1874/869 NASDAQ 1394.54 + 33.53 1397.06 1359.14 1574 mln 1977/1317 S&P 100 480.84 + 12.40 481.21 467.67 totals 3851/2186 S&P 500 950.70 + 21.93 951.17 927.21 RUS 2000 401.29 + 5.32 401.50 395.39 DJ TRANS 2364.02 + 24.62 2368.97 2326.32 VIX 31.57 - 1.25 33.41 30.89 VIXN 47.02 - 2.41 45.57 50.57 Put/Call Ratio 0.82 ****************************************************************** =========== Market Wrap =========== And they're off! Today's trading was illustrated with buyers, buyers, and more buyers. The Dow Jones Industrial Average closed up +212.73, falling just short of 9000 at 8990.79. The Nasdaq also witnessed buying momentum, ascending +33.53 points to end the day at 1394.54. The NYSE viewed 1876 advancers versus 869 decliners, while the Nasdaq reflected 1977 champions and 1308 nose-divers. Today's rally was backed by mediocre volume on the NYSE with 1.53 billion shares exchanging hands, and 1.56 issues trading on the Nasdaq. Sector winners on the day were: retail, banks, transportation, forest paper and products, insurance, home construction, defense and software. Strugglers included: gold, biotech, and airlines. The retail sector received a boost from the number 2 home improvement chain: Lowe's (NYSE:LOW). Investors pushed shares of LOW up 11.4% to $41.00 on news that company beat earnings expectations by a nickel. LOW reported 59 cents per share versus an expected 54 cents per share by analysts. In addition, retail was further helped by Toys "R" Us (NYSE:TOY), which posted a narrower than expected loss for the second quarter. J.C. Penny closed up 3.8% after announcing that sales are slightly exceeding anticipated results for August. Shares of AstraZeneca (NYSE:AZN) fell almost 17% today, as the company announced that its lung cancer drug Iressa had not exceeded anticipated results versus normal chemotherapy. The class of anti-cancer drugs known as Epidermal Growth Factor Inhibitors are meant to impede the growth of uncontrolled cancer cells. The Iressa disappointment also hindered ImClone Systems (Nasdaq:IMCL), Genentech (NYSE:DNA), and OSI Pharmaceuticals (NYSE:OSI), all of which have similar drugs in development. The Biotech Index $BTK.X closed down -2.02% at 371.68. Of slight concern, the Conference Board's Leading Indicators reported a decline of -0.4% in July. Six of the ten leading components of our economy declined in July. The indicators that showed weakness were: interest rate speed, vendor performance, S&P 500, average weekly factory hours, consumer expectations, and building permits. The decline in leading indicators does not bode well for bulls in our economy. However, the market will probably not react to this news, as it is a summary of previous actions. Bottom line though, economic recovery continues to be a fragile convalescence. Although the market has been strong thus far, we must keep a close eye on all economic numbers coming forward. Bull Versus Bear Chart of: Dow Jones Industrial Average, Daily. There is no doubt that the markets have seen a considerable amount of buying over the last few weeks. The question on the top of our minds is whether this is a sustainable rally. In good news for bulls, several technical highlights have appeared to help the buoyant Angus to argue their case. Paramount, the Dow Jones Industrial Average showed strength today, with a strong close above the 50-dma. Today's move was the first close above the 50-dma since May 17, 2002. As bulls evaluate today's exchange buying, they find reprieve in the potential ascending channel ahead. Formidable resistance to contend with for the $INDU lies overhead at 9000. The current ascending channel also seems to have loose resistance at 9100, and 9227-9285. The 9227 area is the 61.8% Fibonacci retracement from the May 17th range (see chart). Further resistance for extremely optimistic bulls rests in the 9390-9400 vicinity. Superfluously, bulls are enticed by the action of the MACD on the weekly chart, as the indicator is turning up from the oversold region. Moreover, the weekly Stochastics (14,1,3) seem to be trending up with ascension pitted in their sights. If the ascending channel can hold its ground, greedy bulls will be eyeing just over 9700 where the 200- dma sits, along with the top of the channel and the 78.6% Fibonacci retracement. However, bears are not easily dissuaded from their cause. Recession advocates will argue that the economy is still a glass house with no foundation. They might insert the Conference Board Leading Indicators from today as part of their case. Some bears will even point out that the Transportation Index $TRAN, has not moved like the Dow or Nasdaq, and must also show strength before trade and industry revitalization appears. Assisting in this belief would be the current nosebleed price of crude oil. One simple facet of economic truth is that with the contemporary price of crude testing $30.00, the retail the price of gasoline will HAVE to rise at some point. The money that will be sucked out of consumer pockets to fuel their gas-hogging SUV's could translate into one more stone being thrown in our recessionary glass house. 52-week high oil prices do not promote fiscal recuperation, especially when consumer spending is lower than last year. In addition, the daily Stochastics on the Dow chart are heavily extended into the overbought region, and give the impression that a potential pullback could be in store. Next, the Market Volatility Index $VIX.X has cooled down considerably. Bears think that the decline in the VIX is great, as the descent has given the indicator a chance to reload with the daily Stochastics coming across as recoiled in the oversold region. The volatility gun is loaded, and could potentially fire again at any time. Bearloney? Texas Tea No matter which side of the market you're on, there is no overlooking oil when the price is at $29.83 per barrel. The oil markets are worried about low crude inventories, as speculation continues that the US Government has been hording oil in its Strategic Petroleum Reserve for a possible attack on Iraq. The oil and gas inventory numbers reported by the AIP and EIA on Wednesday should shed light on whether inventories are still declining or not. The daily chart of oil futures depicts the current scenario. Oil broke out above ascending wedge resistance last week and has been moving up ever since. The 50-dma resides on the bottom of the wedge, while the 200-dma is wafting far beneath at 23.84. Daily Stochastics denote that the futures could be slightly overbought. Chart of: Light, Sweet, Crude, Daily. Treasury Tango Even with a positive move in the broader market today, treasuries also found a small amount of buying. The 30-Year Treasury note fell -0.39 closing at 5.054%, while the 10-Year note dipped -0.19 to end the session at 4.298%. Causing trepidation, investors would like to see bond yield begin to ascend, suggesting portfolio re-allocation from bonds to equities. With limited money flowing from treasuries to stock, the Dow, Nasdaq, and S&P 500 have limited upside potential. The 10-year note is still in a descending channel, and needs to levitate above (roughly) 4.6% to indicate a trend test, or potential reversal. Bottom line, for the market to go up, bond owners must believe that there are greater potential returns in equity ascension, than bond premiums. Chart of: 10-Year Treasury Index, Daily. Looking Ahead Today's rally was a very encouraging technical achievement for many of the indexes. The Dow, Nasdaq Composite, Nasdaq 100, S&P 500, The U.S. Dollar, DJ U.S. Home Construction, and the GSTI Software Index all closed above their 50-dma's. The KBW Bank Index has been above its 50-dma for three days. Even though volume was low today, investors could see this as a development that they don't want to miss out on. Thus, they could start buying stocks again in retort to the bear market. This absolutely does NOT mean that the market is going to begin a huge rally and never look back... It simply suggests that the move today could convince some to dip a toe in the stock market swimming pool. However, I would like to point out that there continues to be a considerable amount of risk, as the economy is by no means healthy. Recovery can be slow, tedious, and sometimes disappointing. Amongst rumors of a potential war with Iraq looming over our heads, many things could happen which could easily kick the feet out from under our markets once again. Time will certainly tell for our economy... Tomorrow provides the Chain Store Sales, International Trade Report, SEMI Book-to-Bill Ratio, and the Treasury Budget. Wednesday brings forth ABC News/Money Magazine Consumer Comfort Index, MBA Mortgage Applications, and the Oil and Gas Inventories. Thursday presents Internet Sales, Jobless Claims, and the Weekly Natural Gas Storage Report. Friday concludes the week with the EXRI Weekly Leading Index. Stay nimble, as this week could be one of market precariousness. Without the drama of earnings pressuring us as in the weeks beforehand, some stocks will be allowed to trade in their true range. News will certainly be a factor, but do no overlook technicals, and keep a keen eye on the 50-dma! Lastly, fix your eyes on potential volume confirmation one way or another. Any move without volume could easily be refuted. Volume is the key! Editor Mark Whistler Recently, Premier Investor has removed the HTML link from the daily email version of the newsletter. Our reason for doing so was to expedite the email version of the letter earlier in the evenings. Thus, we would like to issue a small survey to hopefully better serve our subscribers. Premier Investor clients, would you rather have the email version sent out earlier each night without the HTML link, or would you prefer to wait slightly later (15-30 minutes) and have the link included? Thank you. Questions or comments? 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 --------------------------------- Apple Computer - AAPL - close: 15.98 change: +0.17 WHAT TO WATCH: Aggressive traders may want to consider a bullish position in APPL if it trades above today's high ($16.25). This would put the stock into the July 17th gap, which was produced when the company reported disappointing earnings. Those fundamental concerns seem to be giving way to strength in the broader computer group, led by the likes of MSFT, DELL, and IBM. A continued tech rally could take APPL to the top of its gap, which just so happens to coincide with bearish p-n-f resistance. Speaking of p-n-f charts, bulls can take encouragement from the double-top buy signal. This offers some technical evidence that APPL will be able to overcome the 50-dma at $16.68. --- Genzyme Corp - GENZ - close: 23.72 change: -0.54 WHAT TO WATCH: Amongst the handful of sectors that finished Monday's session with a loss were the biotechs. The group was pressured by news that AZN had reported disappointing results from a cancer drug trial. GENZ traded lower in tandem with the BTK.X biotech index and posted a 2.2% loss. The stock has certainly had a good five weeks, with shares bouncing off the 52- week low at $15.64. But GENZ is now technically overbought, as shown by both the daily and weekly stochastics. The recent sell- off from psychological resistance at $25.00 (near the top of the July 20th gap) could be the start of a more significant downtrend. Possible profit-targets include the 50-dma ($21.44) or the $20.00 region. Short entries can be gauged on a move under $23.00. --- Mercury Interactive - MERQ - close: 27.20 change: +2.20 WHAT TO WATCH: Despite the lack of any substantial news on Monday, shares of MERQ soared to an 8.8% gain. This was sufficient to take the stock above stubborn resistance at $27.00. The fresh quadruple-top breakout on the p-n-f chart is an indication that MERQ will continue to move higher. Uptrending action in the MACD and daily stochastics (5,3,3) support this outlook. Now that the bulls have conquered that level, a move to the $30 region (location of both psychological and p-n-f resistance) could be on the horizon. Entries can be gauged on continued strength from current levels. --- Microsoft Corp - MSFT - close: 52.00 change: +2.00 WHAT TO WATCH: Things are looking up for the software sector. The GSO.X software index rallied by nearly 5% on Monday and moved above both psychological resistance at 100 and the 50-dma at 101. Helping to lead the group higher was a 4.0% gain in shares of MSFT. Mr. Softee has broken above resistance at $50.00 (bolstered by the 50-dma at $50.64) and is currently trading at the top of its descending channel. A break above this level could lead to a retest of the May/June highs near $56.50. The p- n-f chart bodes well for the bulls, with shares recently breaking above bearish resistance. Even if you're not planning on trading MSFT, it's definitely one to watch in order to gauge the overall health of the tech sector. --- Newmont Mining - NEM - close: 25.60 change: -1.20 WHAT TO WATCH: As could be expected, gold-related issues headed lower on Monday as the broader market experienced a steep rally. NEM fell by 4.4% and briefly tested its 200-dma at $24.90. A move under this level would provide a possible action point to open short positions. The recent failure of NEM to move above its 50-dma, combined with a rolling MACD and declining daily stochastics, paints a picture of weakness. We'd be looking for a near-term decline to the $20-$22 region. In terms of sector strength, bears will like how the XAU.X Gold/Silver index has sold off from its 200-dma. --- Novellus Systems - NVLS - close: 30.79 change: +1.64 WHAT TO WATCH: With Bank of America slashing their EPS estimates for Novellus this morning, the company's stock seemed to have little chance of moving above resistance at $30.00 and the 50-dma at $30.47. The bears, however, didn't count on a powerful rally in the semiconductor index (SOX.X). Today's break above resistance, combined with a double-top p-n-f buy signal, indicates that NVLS will continue to move higher in the near future. Aggressive entries can be targeted on a move above today's high ($31.20), with an initial profit near $34.00. --- Semiconductor HOLDRs - SMH - close: 28.41 change: +1.05 WHAT TO WATCH: The semiconductor index (SOX.X) has staged an impressive rebound over the past week, and today's action is enough to really make the bears nervous. Not only did the SOX climb above previous resistance at 350, but the 50-dma (363.47) was pierced for the first time since April. The SMH are displaying a very similar technical pattern (they trade nearly in tandem with the SOX) and may be a good bullish candidate for aggressive traders. Entries can be evaluated on a move above today's high of $28.93, initially targeting the July highs near $32. This would roughly coincide with a reading of 400 on the SOX. --- AT&T Corp - T - close: 10.76 change: +0.31 WHAT TO WATCH: Here's a stock that offers a good deal of upside potential with a minimal amount of downside risk. T has moved above psychological resistance at $10.00 and the mid-June highs at $10.70. Now that the stock has broken out of its recent consolidation range, a move to the $13 region may be in the cards. Entries can be gauged on a move above today's high ($10.80), with a stop just under $10.00. Be aware, however, that the daily stochastics are pinned at overbought levels. Of course if the Dow Jones keeps soaring to multi-week highs, there's no reason why T can't continue to rally. ========================= Play-of-the-Day (BULLISH tech play) ========================= IMS Health - RX - close: 17.99 change: +0.57 stop: 16.74 *new* Company Description: Operating in more than 100 countries, IMS Health is the world's leading provider of information solutions to the pharmaceutical and healthcare industries. With $1.3 billion in 2001 revenue and nearly 50 years of industry experience, IMS offers leading-edge business intelligence products and services that are integral to clients' day-to-day operations, including marketing effectiveness solutions for prescription and over-the-counter pharmaceutical products; sales optimization solutions to increase pharmaceutical sales force productivity; and consulting and customized services that turn information into actionable insights. (source: company press release) - ORIGINAL WRITE UP: August 8th, 2002 - Why we like it: While many tech stocks are only beginning to rebound from oversold levels, RX has actually broken above overhead resistance. But before we outline the latest developments, a brief discussion of the past month's action is in order: A negative reaction to the company's July 15th earnings report sent shares tumbling to an all-time low of $12.90. Shares then proceeded to bounce, only to find solid resistance at $16.00. Even news of an increased stock buyback program couldn't push RX above this level. The bulls may have simply run out of steam after lifting the stock nearly 25% in just one week. Fast-forward to today's session, when shares tacked on 3.9% and closed above $16.00. With both the MACD and daily stochastics (5,3,3) trending higher, RX no longer appears to be oversold. Nervous bears are now faced with a stronger technical picture and a potential rebound in the tech sector (however brief it might be). We think shorts may start covering positions en masse, quickly sending RX to the 50-dma ($17.67) or 200-dma at $19.81. Specifically, we're going to target a move to the next level of significant resistance at $18.00 but watch out if RX stalls at the $17 mark. We'll evaluate our exit strategy if/when shares break above the 50-dma. Note that we won't enter this play until shares trade above today's high of $16.20. If triggered, we'll use a stop at $15.18, two cents under today's low. - Most Recent Update: August 16th, 2002 - The good doctor! We are happy to see IMS Health continue to ascend during the last week. The move above the 50-dma is greeted with open arms by bulls. Although the daily Stochastics look extended into the overbought region, we think this trade could still have some legs. In our original write up, we stated that we would put a profit target at $18.00. However, given the stocks recent strength, we will close half of our position at $17.95, and let the remainder ride. Because RX could bounce off the 50- dma still, we will leave our stop at $15.65. Today did not bring and fresh news forward on IMS Health. - Play-of-the-Day Comments: August 19th, 2002 - As per the exit strategy outlined in the most recent update for RX, we closed half of our hypothetical position today when shares traded $17.95. But there may be plenty of upside remaining. Looking at the bar chart, one sees that RX is sitting just under solid resistance at $18.00. A move above today's high (18.04) could clear the way for an eventual test of the 200-dma at $19.62. We'd expect the stock to begin retracing the rapid losses it suffered during the latter half June. Note that our stop has been tightened to $16.74, one cent under Friday's low. Picked on August 9th at $16.21 Gain since picked: +1.78 Earnings Date 07/15/02 (confirmed) ================================================================= 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 08-19-2002 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: Net Bulls Stop Adjustments: CA, IBM, RX (bullish) Stock Bottom / Active Trader Triggered Plays: AGN (bearish), MGG, SWFT (bullish) Closed Bullish Plays: SBUX High Risk/Reward Stop Adjustments: FDRY (bullish) 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) ================================================================== Net Bulls (NB) Tech Stock section ================================================================== =============== NB Play Updates =============== Stop Adjustments ---------------- Computer Associates - CA - cls: 11.11 chg: +0.78 stop: 9.98 *new* Shares of CA gained 7.5% today, as investors reacted favorably to a conference featuring ACCPAC, a Computer Associates subsidiary. The stock was also aided by a strong performance in the GSO.X software index. In light of today's gains, we're going to move our stop up to $9.98. Thus, we'll have the protection of psychological support at $10.00. This will also force CA to fall below today's low of $10.32. --- Intl Business Mach. - IBM - cls: 82.49 chg: +3.14 stop: 78.99*new IBM kicked off the week on a positive note, slicing through the $80.00 level and posting a 3.9% gain. This play is currently up 10.3% from our original entry point. Our stop-loss is now set at $78.99, below psychological support at $80.00 and two cents under today's low. Longer-term investors may want to use a stop just under $75.00. --- IMS Health - RX - close: 17.99 change: +0.57 stop: 16.74 *new* As per the exit strategy outlined in the most recent update for RX, we closed half of our hypothetical position today when shares traded $17.95. A move above today's high could clear the way for an eventual test of the 200-dma at $19.62. Our stop has been tightened to $16.74, one cent under Friday's low. ================================================================== Stock Bottom / Active Trader (AT) section ================================================================== =============== AT Play Updates =============== Triggered Plays --------------- Allergan Inc - AGN - close: 57.43 change: +0.69 stop: 60.01 Early-morning weakness in the DRG.X pharmaceutical index sent AGN trading to a new short-term low of $56.50. Our short play was triggered when shares traded at $56.59. The stock proceeded to rebound with the broader market, but displayed relative weakness compared to the Dow Jones. New entries can be considered on a break under today's low, but keep in mind that possible support lies at $56.00. Our stop is located at $60.01. --- MGM Mirage - MGG - close: 37.26 change: +0.61 stop: 34.99 This long play was activated on Monday morning when MGG hit our entry trigger at $37.02. Shares followed the Dow Jones higher and finished the session with a gain of 1.6%. Although the $38 level may pose a challenge for the bulls, aggressive traders can target new entries on a move above today's high of $37.65. Our stop is set at $34.99. --- Swift Transport. - SWFT - cls: 18.66 chg: +0.89 stop: 17.64 *new* Shares of SWFT gave an impressive performance on Monday, moving above the $18.00 level and reaching a new relative high of $18.74. Our long play was triggered when shares reached $18.01 during the first hour of trading. Although we've bumped our stop up to $17.64 (slightly under today's low), more aggressive traders could keep stops set at $17.24. New entries could be gauged on a pullback to the $18 region. =============== AT Closed Plays =============== -------------------- Closed Bullish Plays -------------------- Starbucks - SBUX - close: 21.81 change: +0.99 stop: 19.98 Excellent! SBUX had twice been turned back from resistance at $21.40 on Monday, only to launch above that level in afternoon trading. This play was closed for a hypothetical profit of 12.1% when shares hit our profit-target of $21.75. Traders who are still long need to be aware of the converging 50-day and 200-day MA's, which are directly overheard. A move above $22.00 would be a very positive technical development, but the bulls will probably need some assistance from a continued rally in the broader market. SBUX has rallied sharply from last Wednesday's low and may be overdue for some profit taking. Picked on August 8th at $19.39 Gain since picked: +2.36 Earnings Date 07/25/02 (confirmed) ================================================================== HIGH RISK/HIGH REWARD (HR) section ================================================================== =============== HR Play Updates =============== Stop Adjustments ---------------- Foundry Networks - FDRY - cls: 9.50 chg: +0.36 stop: 8.99 *new* FDRY climbed 3.9% on Monday and set a new multi-month high of $9.64. With shares quickly approaching our profit-target at $9.94, we think it's prudent at this point to tighten our stop to $8.99. More conservative traders could challenge FDRY with a stop just under today's low of $9.20, or even consider reaping profits if shares roll over from current levels. ================= 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 MSTRD Microstrategy Inc. 10.50 +1.21 NVDA Nvidia Corporation 12.65 +1.96 MRBK Mercantile Bankshares 39.99 +0.65 PEGA Pegasystems Inc. 9.40 +1.15 EDS Electronic Data Systems 40.75 +1.83 BBOX Black Box 38.30 +1.64 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- Ticker Company Name Close Change OSTE Osteotech Inc. 10.66 +1.15 DOCC Docucorp International 15.60 +1.05 CKFR Checkfree Corporation 13.90 +2.05 CPRT Copart Inc. 12.88 +1.05 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- Ticker Company Name Close Change THQI Thq Inc. 25.00 +2.60 AMSG Amsurg Corporation 33.05 +1.97 LOW Lowe's Companies 41.00 +4.21 VALM Valmont Industries 23.41 +1.12 CVH Coventry Health Care 33.70 +2.77 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change UCBH Ucbh Holdings 41.00 -1.65 DNA Genentech 34.02 -1.47 AZN Astrazeneca 30.98 -6.02 JBLU Jetblue Airways 36.39 -2.69 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change NEM Newmont Mining 25.60 -1.20 ALR Allied Research 21.80 -1.30 ================================================================= 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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