PremierInvestor.net Newsletter Wednesday 08-21-2002 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 ================================================================= For HTML version: http://www.PremierInvestor.net/htmlemail/h21b_1.asp ================================================================= In section one: Market Wrap: Fed Fun! Watch List: ADRX, CSCO, CTX, HD, LEH, LLTC, and more... Play of the Day: A Simple Matter of Supply and Demand ******************************************************************* MARKET WRAP (view in courier font for table alignment) ******************************************************************* 08-21-2002 High Low Volume Advance/Decl DJIA 8957.23 + 85.16 8974.36 8798.89 1600 mln 1969/774 NASDAQ 1409.25 + 32.66 1410.88 1378.09 1609 mln 2241/1032 S&P 100 480.04 + 6.01 481.33 470.68 totals 4210/1806 S&P 500 949.36 + 11.93 951.59 931.32 RUS 2000 406.79 + 8.95 406.79 397.84 DJ TRANS 2432.21 + 84.49 2432.21 2347.43 VIX 31.63 - 0.93 34.02 30.62 VIXN 46.11 - 1.60 49.72 45.99 Put/Call Ratio 0.67 ******************************************************************* =========== Market Wrap =========== A little greener! Today's market found moderate buying as the NYSE closed +85.16 points positive at 8957.23. The Nasdaq also discovered buyers, closing up +32.66 points at 1409.25. NYSE charging issues defeated retreating equities 1969 to 774. The Nasdaq witnessed 2248 advancers and 1029 decliners. Trading volume today, came in at 1.6 billion shares for both exchanges. America Online (NYSE:AOL) has agreed to buy AT&T's share of Time Warner Entertainment in a deal that totals $4.7 billion. AOL Time Warner was able to recapture control of its business through the deal, and could possibly be looking forward to an initial public offering of cable assets in the future. B..bu..bu..busted! Former Enron executive Michael Kopper plead guilty to criminal conspiracy charges to commit wire fraud and money laundering today in a Federal Court in Houston. The ex- Enron white-collar criminal was released on a $5 million dollar bond and agreed to pay a fine of $12 million. Kopper faces up to 15 years in prison, and can never work as the officer or director of a public company ever again. Not..bu..bu..busted..just..yet! After all: Martha Stewart IS innocent until proven guilty. Yesterday, legal eagles for Stewart delivered phone records and e-mails regarding her sale of 4,000 shares of ImClone stock to investigators. She turned over the records after being threatened with a subpoena by a house panel. The panel's final decision on whether to force Stewart to testify will not be made until after Labor Day. CBS Market Watch reported today that at least three regional Federal Reserve presidents are upbeat about the economy and feel that current interest rate policy is adequate. The presidents indicated that they are in no hurry to lower the Fed Funds Rate in light of potential growth in the U.S. Economy. In economic news today, the ABC News/Money magazine survey of consumer comfort elevated 4 points to -11. The survey represents the first increase in consumer confidence in five weeks. Consumers will have to continue spending to accelerate the economy and help with a fiscal recovery. The MBA Mortgage Applications Survey continues to indicate a surge in demand for re-financing and mortgage applications. Low mortgage rates persist to spur consumers into purchasing real estate nationwide. Mortgage applications surged 11% in the week ending August 14th, which produced a new record high. Beyond applications, the purchase index also rose by 5% from last year, though down 2% from its June-July average. Steadfast home sales could promote further residential construction, while refinancing should help millions of personal balance sheets with an increase in expendable income. Cash-out refinancing has also helped many consumers pay off high interest rate credit cards at a time when personal bankruptcies are soaring. As a result of the continued strength in the housing market, sales should remain strong through fall, though if the economy begins to improve and the Fed leans towards raising rates, demand could quickly taper off. A 30-year fixed rate above 7% could promote a contraction of housing buyers; the 30-year rate is currently 6.18. Even though the API and EIA reports unveiled bullish numbers for the housing sector, the DJUSHB traded red during today's session. Some traders feared that even with soaring mortgage applications, a stronger economy would mean higher interest rates, and thus, fewer future sales. Also, some observers of the housing market disagree on whether there is a "bubble" or not. Many analysts contend that numerous urban and costal markets are over-inflated and could soon get a quick dose of reality as interest rates rise. However, Alan Greenspan has publicly stated that he thinks housing prices are "tame", and that supply should remain tight. Supply aside, interest rates above 7% do not promote strong growth in the housing market. Chart of: DJUSHB, Daily. Weekly Oil and Gas inventory numbers were released from the American Petroleum Institute (API) and the Energy Information Agency (EIA) prior to the open this morning. Crude inventories have increased from 300.0 barrels to 302.8 barrels. Distillate inventories decreased slightly, whereas gasoline supplies diverged by increasing slightly from the prior week. The price of crude (October contract: GC02V) could not breach $30.00 yesterday, falling in today's trading session. Overall, the API and EIA reports are both (short-term) decidedly bearish for oil stocks. Investors are asking how this can be with the price of crude at 55-week highs? Unfortunately, crude futures simply have a "war premium" priced into the contracts, thus, without inventory shrinkage or a military move into Iraq, oil will have a hard time remaining at artificially high levels. To read the EIA report, click here: http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/we ekly_petroleum_status_report/current/txt/wpsr.txt The Bigger Picture Examining the bigger picture of the Nasdaq 100, we see some interesting technical developments appearing on our horizon. The larger move over the last two and a half years has been negative to say the least. Recently in the latter half of July, the Nasdaq 100 tested lows, falling beneath levels not seen since 1998. Holding on to support, the index has been able to rebound slightly, attempting to ascend to safer ground. On the weekly chart, there are two identifiable channels, which cause us to look twice. First, the "long-term" channel, which began in March of 2000, is framed in the red lines. The Nasdaq 100 has not challenged the descending resistance of the long-term channel since September of 2000. Amazingly, the recent sideways trading could provide an opportunity to test the descending resistance in the next few days. If, in the next few days, the Nasdaq 100 is able to pierce the descending resistance line of the "long-term" channel, market technicians could stop and take notice! The occurrence would be of titanic technical merit, potentially similar to Haley's Comet! Astronomers polish your lenses! OK, so I'm blowing things out of proportion, though the event would merit some attention. If the Nasdaq 100 were able to push through descending resistance, it would not necessarily mean that a bottom has been struck. After all, there is ANOTHER descending channel resistance trend-line to contend with on the horizon. The blue lines on the chart signify the inner (short-term) channel. Further, the inner resistance pierces the long-term descending resistance, while also traveling slightly above the 50-Week MA. An ascending move of the Nasdaq 100 above the long- term channel could then attempt to test the 1300. The 200-dma is at 1338.75, very close to the inner channel descending resistance. The Nasdaq 100 closed above the 50-dma (daily chart NOT shown) today for the third day in a row; however, daily Stochastics continue to stretch out into the overbought region. Chart of: Nasdaq 100, Weekly. Given the above information, and assuming that no war/terrorist/accounting news surfaces, the Nasdaq 100 could see a run at descending resistance. If by chance, the index does break through the long-term descending resistance, it could then temporarily travel sideways in order to allow the daily oscillators time to cool off. At that juncture we could subsequently see a burgeoning run at the 200-dma, the 50-Week MA, and/or the inner descending channel resistance on the weekly chart. Chart of: Semiconductor Index, Weekly Currently, the semiconductor index ($SOX.X) is challenging horizontal resistance in the 360 area. On the daily chart (not shown) Stochastics (14,1,3) are in the overbought region and could be signaling a potential pullback in the future. However, the weekly chart displays the Stochastics turning up out of the oversold region, possibly alluding to strength in the longer-term trend. If the SOX were able to break above horizontal resistance, it could then test further resistance in the 430-450 neighborhood. Bulls beware though; a pullback could still be in store! As Jeff Bailey pointed our last night's wrap http://www.PremierInvestor.net/markets/marketwrap/082002_1.asp the 50-dma is not easily refuted and could still be a substantial heckler for bulls. Chart of: 3-Year Treasury Note, Weekly. Surveying the weekly chart of the 30-Year Treasury note, we get a sense of the bigger picture for bonds. The 30-Year note has experienced a considerable amount of buying since late 1999...before the Nasdaq Composite and the S&P 500 began their corrections! These bond guys are smart I tell ya! Thus, as we view the 10-Year and 30-Year treasury notes, we might find some validity to the current ricochet from July lows. The 30-Year note is attempting to find yield support in the 5.0% area, while the 10-Year note strives to reside above 4.1%. Weekly Stochastics for the 30-Year note and the 10-Year note are trying to amplify themselves out of the oversold region. For money to transfer from bonds to equities, treasuries must experience some selling in order to free up cash for portfolio re-allocation. Yields could be the key to a market turn, so watch closely! Sooooooo...what really happened today that was exceptionally notable? The hidden jewel of the session was the fact that three Fed officials said that a rate cut is out of the question for now. Thus, the market already has a clear signal of what action the Fed will take at the September 24th meeting. The three Fed presidents who made the comments were: Chicago Fed president Michael Moskow, Philadelphia President Anthony Santomero, and San Francisco President Robert Parry. The market's reaction to the Fed news was certainly uplifting, seeing that just one week ago; traders were groveling for a rate decrease. The vital cornerstone to bolster consumer confidence has been investor sentiment. If the markets find stability, consumers could be enticed to potentially increase spending. In spite of this, I would like to remind readers that even with the positive developments of late, this is the time of year when some investors book profits. Also, Crude prices are extremely high and could translate into less expendable income if consumers have to pay more at the pump. Lastly, let's not forget that we are at war...terrorists can pick amazingly strategic times to strike, potentially just when we think recovery is imminent. However, it would seem that even without a rate decrease at the last FOMC meeting, investors have found other reasons to be positive about the market... A good sign indeed! Mark Whistler Editor mwhsitlerPremierInvestor.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 --------------------------------- Andrx Group - ADRX - close: 25.20 change: +1.38 WHAT TO WATCH: With sector leader AMGN refusing to give back its recent gains, the BTK.X biotech index has continued to trend higher. The BTK pegged a new relative high today and outperformed the NASDAQ. A test of the 400-420 region appears likely. ADRX has been a beneficiary of this sector strength. The stock has emerged from a six-week consolidation pattern and is trading near relative highs. Today's close above both the 50- dma ($24.71) and psychological resistance at $25.00 could lead to another round of short-covering. A break above the mid-July high of $25.52 would open the door for an eventual rally to the $35.00 region. This is where ADRX found support before June's steep decline. Short-term traders, however, could simply target a move to the next level of psychological resistance at $30.00. --- Cisco Systems - CSCO - close: 15.10 change: +0.37 WHAT TO WATCH: CSCO has been quietly creeping higher over the past two weeks. Today's action was especially impressive, as the stock tacked on 2.5% and pierced near-term resistance at $15.00. Shares closed above this level, hinting towards a continued rally in the days ahead. The p-n-f is looking strong as well, with CSCO recently moving above bearish resistance. Short-term traders could target bullish entries on a move above today's high ($15.25). We'd be looking to capture a quick pop to the 200-dma at $16.49. --- Centex Corp - CTX - close: 49.60 change: -1.03 WATCH TO WATCH: The DJUSHB home construction index pulled back by 1.4% today, despite data from the Mortgage Bankers Association (MBA) that said mortgage applications were at an all-time high. Conventional wisdom dictates that this is a bullish sign for the homebuilding group. The tepid response from Wall Street indicates that the good news may have already been priced into the sector. Technically, the DJUSHB has rolled over from its converging 50-day and 200-day moving averages. With the daily stochastics (5,3,3) beginning to release from overbought levels, a continued pullback seems likely. CTX has also sold off from its 50-dma ($50.86) and is displaying similar oscillators. Today's close under the $50.00 level is not a good sign for the bulls. Short entries can be gauged on a move under today's low ($49.09), with an initial profit-target near $45.00. --- Home Depot - HD - close: 32.64 change: +2.39 WHAT TO WATCH: A positive reaction to last night's earnings report had shares of HD trading sharply higher today. It takes an aggressive strategy to chase a stock after a large move, but a move above today's high ($32.69) may provide an entry point for traders willing to chance a pullback. The stock has broken out of its month-long consolidation range and is trading at multi- week highs. Today's close above the 50-dma ($32.14) bodes well for the bulls. Meanwhile, the p-n-f chart is signaling a Bear Trap alert. Continued short covering could see HD retrace the remainder of its early-July selloff and move back to the $38.00 region. Longer-term investors can also be encouraged by the rising oscillators on the weekly chart. --- Lehman Bros. - LEH - close: 58.98 change: -2.20 WATCH TO WATCH: A double-whammy of negative brokerage comments had shares of LEH trading lower on Wednesday. Morgan Stanley slashed their estimates for Lehman, while Solomon Smith Barney downgraded the stock. The technical picture is not encouraging for shareholders, with the bar chart showing a rollover from the 200-dma ($62.34) and the p-n-f chart reversing into a column of "O's." The oscillators are looking bearish as well, with both the MACD and daily stochastics falling from overbought levels. Short entries can be considered on a move under $58.00, below the 50-dma and today's low. --- Linear Technology Corp - LLTC - close: 32.92 change: +1.45 WHAT TO WATCH: The semiconductor index (SOX.X) has rebounded sharply over the past week and is now at what could be a crucial pivot point. The descending 50-dma at 360 has kept a lid on the index during the last three sessions. Wednesday's close above that level could have panicked bears running for the exits during tomorrow's session. If this turns out to be the case, LLTC looks like it could really explode. Shares are trading near multi- month highs and are in the process of retracing June's sell-off. A move to the $36 region would not be out of the question if the SOX.X heads to 400. In terms of specific action points, traders can watch for a move above the relative high of $33.33. --- Nextel Communications - NXTL - close: 7.19 change: +0.11 WHAT TO WATCH: On Wednesday, the YLS.X wireless index closed above its 50-dma for the first time since April. A retest of the July highs near 50.00 could occur if the index doesn't slip back below moving average support. Aggressive traders may want to consider a bullish position in NXTL if the stock breaks above today's high ($7.55). Shares are trading near multi-month highs and look poised to challenge the $8.00-$9.00 congestion region. Continued bullishness in the wireless sector could have NXTL slicing through this area and testing psychological resistance at $10.00. P-n-f chartists will note that NXTL recently produced a bullish triangle breakout. --- Tyco Intl - TYC - close: 16.72 change: +1.37 WATCH TO WATCH: Back from the dead? TYC has risen more than 100% from its late-July lows. Now that the revelations of accounting irregularities have heavily discounted the stock's price, Wall Street seems to be in a buying mode. News that some TYC investors are looking to purge the Board of Directors of anyone who served under former CEO (and future inmate?) Dennis Kozlowski had the stock trading higher by nearly 9% on Wednesday. Needless to say, TYC is technically overbought and could experience a pullback at any time. However, high-risk traders may want to consider going long on a break above today's high ($16.75). The stock certainly has upside momentum, and there's not much overhead resistance to prevent a move to the $20.00 area. =============== Play-of-the-Day (Non-tech BEARISH play) =============== Oil Service HOLDRs - OIH - close: 54.39 change: +0.21 stop: 57.01 Company Description: HOLDRS are trust-issued receipts that represent your beneficial ownership of a specified group of stocks. HOLDRS allow you to benefit from the ownership of the stocks in a particular industry, sector or group. (source: company web site) - ORIGINAL WRITE UP: August 20th, 2002 - Why We Like It: With speculation that war with Iraq could be looming over our heads, the price of crude futures have recently ascended to 52- week highs. In the last few weeks, oil inventories have also been at lows, with further conjecture that the U.S. government has been building up it Strategic Petroleum Reserves. As a result, the Oil and Oil Service sectors have seen moderate recovery from July lows. This afternoon, the American Petroleum Institute (API) announced an unexpected climb in last week's oil inventories. The news pushed crude futures lower in after hours trading and could be the catalyst that adds selling pressure to the oil group. Today's report indicated a 6.64 million-barrel increase in last week's inventories, while most data expects a 3 million barrel decrease in tomorrow's weekly report. In light of potential inventory amplification, it is possible that the Oil Services sector could begin to see some profit taking. The OIH is a Holders Trust that represents 18 oil services companies, and has rebounded 17% from the most recent relative low on August 8th. The rally carried the OIH directly into the descending resistance trend line, the 50-dma, and the 38.2% (see chart) Fibonacci retracement. The OIH tried to break through resistance during the last three days, but could not find enough momentum to ascend into higher ground. As a result, the OIH seems as if it could fall back into the descending range, potentially testing $45.00 again. Also, daily Stochastics seem to be rolling out of the overbought region, and could be heading lower. Given today's API news, we are considering a hypothetical short at current levels. However, because we will be marking our entry price on tomorrow's opening, the trade will be "conditional". If the OIH gaps DOWN more than 65 cents on tomorrows opening, the newsletter will NOT add the short. Our reasoning is that if this afternoon's news causes the Oil Services Index to drastically gap down, we do not want to be short on the bottom of what could be the beginning of a rebound. Thus... we will ONLY add our short entry on tomorrows opening IF the OIH DOES NOT gap down MORE THAN 65 cents. If a position in the OIH is activated, we will put our initial stop at $57.01, just above near-term resistance and the 50-dma. Our initial profit target for OIH will be $47.50, where we hope to strike oil! The OIH could see support in the $54.00 area, but the bulls will have a tough time defending this level if the price of crude continues to fall. - Play-of-the-Day Comments: August 21st, 2002 - The oil service index (OSX.X) finished Wednesday's session with a paltry 0.36% gain, despite the fact that crude oil futures (cl02z) rallied to a new relative high. We entered our hypothetical short trade in the OIH at the opening price of $54.20. Our stop is now set at $57.01. Traders still looking to go short can watch for a rollover from the $55 region or a move under today's low of $52.75. Going forward, we'd be very surprised to see the price of crude maintain its current lofty levels. As discussed in tonight's Market Wrap, the latest inventory data indicates that supply is increasing. Oil has been bid higher by Iraq war concerns. Those concerns make soon begin to fade it the U.S. continues to balk at decisive military action. Picked on August 21st at $54.20 Gain since picked: -0.19 Earnings Date N/A ================================================================= 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 Wednesday 08-21-2002 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 ================================================================= For HTML version: http://www.PremierInvestor.net/htmlemail/h21b_2.asp ================================================================= In section two: Net Bulls Tech Stocks Stop Adjustments CA Triggered Plays SBC (Bearish) Active Trader Non-Tech Stocks Triggered Plays: NKE (Bullish) Triggered Plays: OIH (Bearish) 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 Tech Stocks (NB) section ================================================================= =============== NB Play Updates =============== Stop Adjustments ---------------- Computer Associates - CA - cls: 11.33 chg: +0.56 stop: 10.42 *new Shareholders of CA enjoyed an impressive 5.1% gain on Wednesday. There was no company-specific news to explain the rally, but the stock seemed to benefit from bullishness in the GSO.X software index. At this time we're going to tighten our stop to $10.42, one cent under yesterday's low. Due to the declining action of the 50-dma (currently at $12.45), we're also going to adjust our profit target to $12.34. More aggressive traders could continue to target a move to the $13.00 region. =============== NB Play Updates =============== Triggered Plays (Bearish) ------------------------- SBC Communications - SBC - close: 28.11 change: +0.43 stop: 30.01 Our criterion for entering this short play was met this morning when SBC traded at $27.49. The company's announcement that it would provide new variable price/speed DSL service did little to boost the stock. SBC finished the day with a 1.5% gain and underperformed the IXTCX combined telecom index, which was pushed higher by a powerful rally in shares of T. On Thursday we'll be watching for SBC to break under today's low ($27.42) and begin to gravitate towards loose support at $26.00. ================================================================= Active Trader/Non-tech Stocks (AT) section ================================================================= =============== AT Play Updates =============== Triggered Plays (Bullish) ------------------------ Nike Inc - NKE - close: 45.49 change: +0.69 stop: 43.29 This long play was activated early on Wednesday morning when NKE hit our entry point at $45.36. Shares reached an intraday high of $46.31 before pulling back to finish with a 1.5% gain. Now that we've been triggered, our stop-loss is located at $43.29. Traders still looking to go long can consider bullish positions on a move above today's high. =============== AT Play Updates =============== Triggered Plays (Bearish) ------------------------- Oil Service HOLDRs - OIH - close: 54.39 change: +0.21 stop: 57.01 The oil service index (OSX.X) finished Wednesday's session with a paltry 0.36% gain, despite the fact that crude oil futures (cl02z) rallied to a new relative high. We entered our hypothetical short trade in the OIH at the opening price of $54.20. Our stop is now set at $57.01. Traders still looking to go short can watch for a rollover from the $55 region or a move under today's low of $52.75. On a related note, be sure to check out Mark Whistler's Market Wrap for some intriguing analysis of the latest inventory data! ================== 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. Ticker Company Name Close Change TSP Telecom De Sao Paulo 10.78 +0.58 YUM Yum! Brands Inc. 28.55 +0.63 FBP First Bancorp Holding 28.50 +1.90 CBE Cooper Industries Inc. 30.92 +1.52 PRX Pharmaceutical Resources 27.28 +1.98 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- Ticker Company Name Close Change TRR Trc Companies Inc 18.53 +0.74 DORL Doral Financial Corp 44.21 +2.31 FDP Fresh Del Monte 27.95 +0.58 ECTX Ectel Ltd. 10.51 +0.59 INTL Inter-Tel inc. 26.22 +1.22 CLI Mack Cali Reality 32.43 +0.52 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- Ticker Company Name Close Change DAL Delta Airlines 19.12 +2.49 OSIS Osi Systems 19.49 +1.43 VRSN Verisign Inc. 7.48 +1.08 NBTY Nbty Inc. 17.07 +1.04 CVC Cablevision 9.65 +1.83 LUV Southwestern Airlines 14.85 +1.40 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- Ticker Company Name Close Change HD Home Depot 32.68 +2.43 USPI Utd Surgical 32.32 +2.16 PNRA Panera Bread 34.86 +2.08 DDS Dillard's Inc. 27.41 +2.10 EFX Equifax Inc. 23.03 +1.22 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change WEN Wendy's International 36.34 -1.65 LEH Lehman Bros Hldg 58.98 -2.20 FLR Flour Corp 27.66 -3.27 VMC Vulcan Materials 38.79 -2.22 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change SRDX Surmodics Inc. 28.31 -0.74 BUD Anheuser-Busch 52.16 -0.64 TECD Tech Data Corp. 33.36 -1.65 ================================================================= 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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