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Daily Newsletter, Monday, 09/09/2002

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PremierInvestor.net Newsletter              Monday 09-09-2002
                                                  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:      Around the Elbow
Watch List:       APOL, AMAT, AMZN, CEFT, COF, and more...
Play of the Day:  52-week Highs


*******************************************************************
MARKET WRAP  (view in courier font for table alignment)
*******************************************************************
09-09-2002                High    Low     Volume Advance/Decl
DJIA     8519.38 + 92.18 8558.01  8315.47 1568 mln  1556/1194
NASDAQ   1304.60 +  9.30 1310.33  1270.73 1478 mln  1562/1618
S&P 100   447.98 +  7.95  471.15  459.99   totals   3118/2812
S&P 500   902.96 +  9.04  907.34  882.92
RUS 2000  392.47 +  0.90  393.55  385.59
DJ TRANS 2263.42 +  6.35 2276.64  2209.60
VIX        38.40 -  1.64   38.49  37.53
VIXN       55.47 -  1.07   55.49  55.05
Put/Call Ratio 0.84
*******************************************************************

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


PremierInvestor.net  - Market Wrap - Monday, 09/09/02
-----------------------------------------------------------------

Around the Elbow
Market Wrap | Wednesday, September 9th, 2002
Today's market traded in the red during the morning, but was
able to find eager bulls to close positive on the session.

-----------------------------------------------------------------

Today's market traded the hard way to positive.  The Dow slid
into negative ground this morning, but staged a rally in the
afternoon to close up +92.18 at 8519.38.  The Nasdaq also
elevated in the session, trading up +9.30 to 1304.60.  Advancers
eluded decliners on the NYSE 1556 to 1194, while gainers trailed
losers on the Nasdaq 1562 to 1618.  Overall volume for the day
was pedestrian, with 1.3 billion shares traded on the NYSE, and
1.2 billion exchanging hands on the Nasdaq.

Just two days before the anniversary of September 11th, investors
seem to be less than enthusiastic to weigh into the markets with
heavy volume. However, today's rebound could be a sign that
traders do see a silver lining in the future.

Economic Reports

Today brought forth the Kansas City Fed manufacturing survey,
which displayed an expanding regional manufacturing industry.
Production for August grew to 13 from 8, volume of shipments
increased to 7 from 6 in July, and numbers of new employees
decreased to -5 from -3.  Hiring has not yet begun to swell, even
with increased corporate production.  The survey results
indicated that a manufacturing recovery is slowly appearing,
though the heartbeat is very faint.

Of concern, the September Cambridge consumer credit index has
indicated that U.S. household's intentions to pay down debt is
differing from what they actually do.  In August, 80% of
Americans planned on paying down debt, though only 64% followed
through.  The 16% difference between what households thought they
would pay, and what they actually did pay, is called the "reality
gap".  This trend is causing trepidation with analysts, as rising
debt burdens could be overwhelmed in future months, potentially
tapering consumer spending.

Consumer Credit grew from $8.9 billion in June to $10.8 billion
in July.  The growth viewed by the report is mediocre, and
alludes to moderate consumer spending.  However, revolving debt
has increased in recent months from 715.6 in June to 722.1 in
July.  Credit card usage has been slower than usual over the last
few months, as consumers are using cash-out refinancing to pay
off debt and purchase new items.  If economic recovery appears
and interest rates rise, re-financing could slow.  This would cut
cash flow to consumer pockets and cause credit card usage to
rise.

The Wholesale Trade (MTWR) report indicated that July exceeded
expectations with a 0.6% gain in sales and inventories.  Non-
durable farm products, chemicals, and apparel drove the bulk of
the growth.  Gains in durable goods were balanced by losses in
the same category.  The growth in Wholesale Trade indicates
mediocre (though steady) growth in the industry for the second
month in a row.

Today's News

IDC lowered PC growth forecasts through 2003, citing weakening
demand of customers and businesses.  IDC believes that the return
of investment capital and IT spending has been slower than
expected.  The Goldman Sachs Hardware Index ($GHA.X) gained +1.38
on the day, closing at 95.94.

Foreign markets rejoiced today, as the Nikkei rebounded 1.9
percent in anticipation of a Japanese anti-deflation package.
Apparently, the Liberal Democratic Party has agreed that the
government will invest 3 trillion yen in exchange traded funds.
The details of the package are expected to surface on September
20th.

250 major U.S. corporations have petitioned the US Supreme Court
in an attempt to halt the pending "asbestos compensation" crisis.
Asbestos claims could cost the companies hundreds of millions of
dollars, forcing many corporations to file for bankruptcy.  The
current crisis pertains to a trial in West Virginia involving
8,000 claimants.  Beyond this current case, actuaries estimate
that total asbestos-related cases could cost insurers and
corporations $200-275 billion dollars in the U.S. alone.

Internet media mogul AOL Time Warner Inc. (NYSE:AOL) announced
today that due to an advertising slump, the company would fall
short of expectations for the year.  The company expects America
Online's advertising revenue to reach 1.7 billion dollars, but
could fall 5 percent.  In July, the company announced that
expected EBITDA would be between $1.8 and $2.2 billion dollars.

Nextel (Nasdaq:NXTL) grew more bullish on its outlook for 2002
and 2003.  The wireless carrier said it was on track to meet or
exceed its previous forecasts for 2002.  More importantly, the
company also announced that it was planning to spend almost 2
billion dollars in 2003 on capital equipment.  Although this
won't help coax our economy back to premium levels, renewed
confidence in corporate spending is a good sign.

With the possibility of an attack on Iraq looming, oil futures
crept higher on the day, closing just short of $30.00 per barrel
at $29.80.  On Thursday, President Bush is expected to push for a
resilient resolution with the United Nations to force Iraq in
accepting unregulated weapons inspections.  Analysts are
speculating that the US will make a move to unseat Saddam Hussein
by the end of the year.  The chart of crude futures depicts oil
testing the top of the most recent channel.  Daily Stochastics
are entering the overbought region, and the MACD has been
traveling above the 0 line.  The candlestick pattern created in
the last two days could be a "tweezers" top, though Friday
depicted a higher high by one penny, and could pave the way for a
breakout.  Supply side concerns still plague oil traders, causing
crude futures to maintain heightened prices.

Chart of: Crude futures, Daily.




The daily chart of the Market Volatility Index ($VIX.X) shows the
index attempting to fall beneath the 50-dma.  The index has been
trading above the "normal" range, where 20 is a typical bottom,
and 30 is a standard top.  The VIX's indicators are currently
giving mixed signals, as the daily Stochastics seem to be
failing, while the MACD is attempting a bullish cross above the 0
line.

Chart of: Market Volatility Index, Daily.




The chart of the Nasdaq Composite depicts gains in the last two
sessions.  Further, the most recent descending resistance
(slightly above the 50-dma) could be tested in the next few
sessions if bulls continue to nudge the composite higher.  The
MACD and daily Stochastics seem to be in conflict, as the
Stochastics attempt to trend out of the oversold region, and the
MACD curls lower from the baseline.  In today's trading, 1350
served as resistance that the index could not break through.
Watch the 1350 level during the next few sessions for a potential
break higher to test the descending resistance trend line.

Chart of: Nasdaq Composite Index, Daily.




The Defense Sector (DFI.X) was a technical gainer on the day, as
the index closed above the 200-dma on amplified fears of a
possible war with Iraq.  Further, President Bush has recently
asked congress to increase defense spending to the tune of 48
billion dollars.  Technical developments on the index's chart
include the daily Stochastics spiking higher into the overbought
region and the MACD attempting to move above the 0 line.  The
chart looks as if an ascending wedge is forming with a potential
breakout looming.  Retracement from the May 2nd high indicates
that a move to the 61.8% level (187.44) is not out of the
question.  The newsletter added L-3 Communications (NYSE:LLL) as
one of our picks last Friday, to view the play list, click here:
http://www.PremierInvestor.net/currentplays/currentplays.asp

Chart of: Defense Index, Daily.




It would seem that bulls and bears are undecided as to which
direction the market should head.  However, psychological
sentiment indicates that bulls could look for prospective buying
if September 11th passes without any major incidents.  Bears
maintain that the economy has many obstacles to contend with
before recovery is in the clear.

Investors are cheery that business practices have had major
overhauls in the last few months, but are now asking if it is
enough.  To prevent another "bubble" from appearing in the
future, stocks must stay at fundamental valuations with
appropriate accounting methods securely in place.  Additionally,
deflation risks have begun to surface, as a lackluster global
economy continues to hinder markets from retuning to progressive
growth levels.  Consumers and investors are showing patience in
waiting for better prices in the equity markets and purchasing of
capital goods.

The housing market has been the investment of choice during the
last year, but again, some wonder if a bubble is now developing
there.  The bottom line of all markets is inventory.  Too much IT
surplus and we see a bear market, not enough in crude futures and
we watch helplessly as oil commands $29.80 per barrel.

In a few personal words from the editor: I think the markets of
the last decade display how much more brilliant the average
investor has become.  It's true, countless investors were
suckered into the tech boom of the late 90's, but when the market
collapsed, many quickly shifted their assets to bonds and real
estate.  The problem is that when something starts to work,
everybody wants a piece of it.  Thus, mass hysteria to get a
piece of whatever the investment du jour is, causes
overvaluation.  Although we live in a competitive world of
productivity, we must stop and ask ourselves if the premium we
are paying is soundly worth the investment's fundamentals.
Naturally, we all want to get ahead, and not only educate
ourselves on ways to make money, but also make money on our
money. (this sentence could probably be deleted)  I was impressed
with a recent article on Warren Buffet who bought almost nothing
in the tech boom of the 90's.  Now he is purchasing natural gas
pipelines and 100 million dollars worth of bonds in Level Three
Communications (Nasdaq:LVLT).  He avoids the "hot" market, and
purchases when others are selling.  Most investors are not
capitalized like Mr. Buffet and cannot always afford to buy in
tough times.  However, Mr. Average Investor has become savvy
enough to recognize when affordable investments are on deck.  As
a result, it has become apparent that the average consumer is
becoming more picky and educated.  He or she is waiting to make
their dollars count in a difficult market place, a sign that
there is a little of Mr. Buffet in all of us.

Patience is more than a virtue...it can be profitable.

Mark Whistler
Editor

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
---------------------------------

Apollo Group - APOL - close: 42.78 change: +1.08

WHAT TO WATCH: Shares of this adult education provider are
trading near all-time highs and look poised to break into blue-
sky territory.  The recent pattern of relative strength suggests
that APOL may be in store for a breakout.  Traders can consider
going long on a move above $43.27.  This could clear the way for
a move to the $50.00 region.  A trade at $44.00 would create a
double-top buy signal on the p-n-f chart.




---

Applied Materials - AMAT - close: 12.69 change: -0.25

WHAT TO WATCH: AMAT was conspicuously absent from today's tech
rally.  Shares of the leading semiconductor manufacturing company
declined by nearly 2% and underperformed both the SOX.X and
NASDAQ.  This relative weakness suggests that a wholesale
breakdown could occur if the chip sector experiences a sell-off.
Specifically, traders should watch for a move under the 52-week
low of $12.00.  With no immediate levels of underlying support,
the bulls would have a tough time preventing a test of
psychological resistance at $10.00.  On a related note, chip
producer LLTC is also threatening a breakdown.  This provides a
possible shorting opportunity for traders who don't want to deal
with the added volatility of playing a relatively cheap stock
such as AMAT.




---

Amazon.com - AMZN - close: 16.51 change: +1.20

WHAT TO WATCH: Judging by the news, you'd think the internet
group would've been crushed on Monday.  First, AOL announced
before the bell that it expects additional downside risk from its
America Online division.  Merrill Lynch responded by cutting
their 2002 estimates for the company.  Furthermore, the brokerage
also said AOL's troubles could carry over to YHOO.  This sector
negativity could've precipitated a sell-off in the group.
However, the INX.X internet index actually finished with a small
gain.  Even more impressive was the performance turned in by
AMZN.  There wasn't any specific news to explain it, but shares
of the retailer shot higher by 7.8%.  The recent move above
bearish p-n-f resistance may have nervous bears on the run.  The
uptrending MACD and daily stochastics indicate that a move to the
$19.00 area could be in the cards.  While aggressive traders can
consider entries on a move above today's high ($16.65), the more
prudent strategy would be to wait for a pullback to the $15.50
region.  Note that possible resistance lies overhead at the July
high of $17.16.




---

Concord EFS - CEFT - close: 14.75 change: +0.26

WHAT TO WATCH: This NASDAQ-100 component gapped sharply lower on
September 5th after the company slashed its earnings outlook for
2002 and 2003.  The stock has since bounced back from its 52-week
low of $12.60, despite news of a class action lawsuit related to
top Concord executives.  The stock traded an Inside Day on Monday
and outperformed the NASDAQ with a 1.7% gain.  Continued
bullishness could see CEFT move into the aforementioned gap and
make its way toward the $18.00 level.  Long entries can be
evaluated on a move above Friday's high of $15.40.  Due to the
recent negative news, such a play would be best left to those
with a high risk tolerance.




---

Capital One Financial - COF - close: 39.48 change: +2.97

WHAT TO WATCH: Capital One revealed during its July 16th earnings
report that as much as 40% of its loans are held by borrowers
with high-risk credit profiles.  This news sent shares of COF
tumbling to a loss of more than 50% in less than a month.
However, the recent trading action has been less harrowing for
the bulls.  COF rebounded sharply from its multi-year low of
$24.05 and is now threatening to fill in its July 17th gap.
Shares rallied by more than 8% today on the seemingly bad news
that Fitch cut Captial One's rating from BBB+ to BBB.  This is an
indication that all the existing bad news may be priced into the
stock.  Aggressive traders can target entries on a break above
psychological resistance at $40.00, while others may want to wait
for COF to move over $41.75.  A complete filling-in of the July
gap would have shares trading in the $50.00 region.  Point-and-
figure chartists will note that COF is displaying a double-top
buy signal on the p-n-f chart.




---

Cooper Industries - CBE - close: 34.11 change: +1.11

WHAT TO WATCH: Shareholders of this industrial electronics
company enjoyed a 3.3% rally on Monday.  The stock blew through
short-term resistance near $33.75 and closed at the highest
levels in over a month.  Although CBE has some overhead
resistance at $36.00, the uptrending oscillators indicate that
shares could eventually make their way to the 200-dma at $37.65.
Aggressive traders can target long entries on a move above
today's high of $34.25.  An alternate strategy would entail
waiting for a pullback to the 50-dma at $32.57.




---

Newmont Mining - NEM - close: 29.68 change: +0.68

WHAT TO WATCH: Continued investor jitters over a war with Iraq
have sent the gold/silver index to multi-week highs.  The XAU.X
led the market higher on Monday with a 4.0% gain.  NEM also
finished the session solidly in the green, but appeared to be
pressured by overhead resistance at $30.00.  A break above this
level would open the door for a retest of the 52-week highs near
$33.00.  Technically, bulls can be pleased with the steady
increase in volume that has accompanied the past two weeks of
gains.




---

PACCAR Inc - PCAR - close: 35.12 change: +0.90

WHAT TO WATCH: Transportation-related stocks were driven lower in
late-August after ROAD announced an earnings warning.  PCAR moved
lower with the sector and pegged a multi-month low of $32.65.
Shares have spent the last few sessions distancing themselves
from this level.  Today's action saw PCAR move up by 2.6% and
handily outperform the Dow Transports (TRAN).  This relative
strength, combined with the uptrending MACD and daily stochastic
oscillators, bodes well for a continued rebound.  A move above
today's high ($35.18) would provide a possible action point to
enter bullish positions.  The declining 50-dma at $37.99 offers a
potential profit-target to shoot for.  Take note of the action in
the oil sector, as a continued rise in price of crude (cl02z)
could effectively squash any rally in the Transports.




---

Charles Schwab - SCH - close: 9.80 change: +0.48

WHAT TO WATCH: The XBD.X broker/dealer index has spent the past
week consolidating in a narrow range between 380-400.  The
technical picture suggests that an upside breakout could be on
the horizon.  Not only are the daily stochastics starting to rise
from oversold levels, but the MACD is curling higher from the
baseline.  A glance at the index's p-n-f chart also shows a
successful test of bullish support and fresh double-top buy
signal.  If the brokerage group does break higher, SCH looks like
it could eventually move to the $12.00 region.  The stock is
threatening to move above resistance at $10.00.  The recent
rising volume suggests a large amount of bullish conviction.
Traders looking to go long can watch for a move above today's
high at $10.10.




===============
Play-of-the-Day (Tech BULLISH play)
===============

Cognizant Tech. - CTSH - cls: 62.87 chg: +2.33 stop: 58.54 *new*

Company Description:
Cognizant is a leading provider of custom software development,
integration and maintenance services that link e-business with
core information systems for companies worldwide. Cognizant
operates under a high quality, high value onsite/offshore model
that enables better, faster and more cost effective development
and deployment of large-scale systems across a wide range of
transaction intensive business needs. (source: company press
release)

- ORIGINAL WRITE UP: September 6th, 2002 -

Why We Like It:
With a very impressive list of clients including: The Dun &
Bradstreet Co, ADP, Brinker International, Computer Sciences, and
many others, CTSH has been able to keep its stock ascending in a
difficult market. Recently, Cognizant was named the top pure play
on-site/off shore company on the Nasscom's list of multinational
software exporters.

On a technical basis, bulls have been trying to push Cognizant to
52-week highs. The stock has been trading in an ascending channel
since February of this last year. The ascending support line of
the channel trades in local tandem with the 50-dma at what seems
to be a 45-degree angle. Further, the daily Stochastics are
trending up, with the Fast line having recently entered the
overbought region. Bulls would be further encouraged if this
stock were to attempt a breakout and close above the $61.00
level. The overhead resistance, which is at $65.00 and $67.00,
dates back to January of 2000.

Given the long-term pattern of relative strength, we think bulls
could further lend a hand in pushing CTSH higher. Thus, we are
placing our trigger for CTSH at $61.40, slightly above the
relative high. If triggered, our stop will be just below the low
two days ago at $56.58. Our initial profit target for CTSH will
be at $68.49, just below the descending resistance of the near-
term channel.

- Play-of-the-Day Comments: September 9th, 2002 -

Shares of CTSH traded mostly flat for the first half of Monday's
session.  That all changed when the tech sector began its
afternoon rally.  CTSH launched off the $60.00 level and reached
our entry trigger at $61.40 shortly after 1:00.  Shares spiked to
an intraday high of $64.17 before finishing with a 3.8% gain.  At
this time we're going to tighten our stop to $58.54, just under
Friday's low.  The uptrending MACD, strong volume, and ascending
triple-top breakout are signs that the stock will continue higher
in the near-term.  Those who are still looking to open long
positions can watch for a pullback to the $61.50 region.  More
aggressive types could watch for a break above today's high at
$64.17.

Picked on September 9th at $61.40
Results since picked:       +1.47
Earnings Date            07/15/02 (confirmed)





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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

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Copyright ) 2002  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter                Monday 09-09-2002
                                                   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 Tech Stocks
  Triggered Plays:       CTSH, LLL (Bullish)
Active Trader Non-Tech Stocks
  Closed Short:          C
High Risk/High Reward
  Triggered Plays:       QQQ (Bullish)
  Closed Short:          IDPH


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
===============

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

Cognizant Tech. - CTSH - cls: 62.87 chg: +2.33 stop: 58.54 *new*

Shares of CTSH traded mostly flat for the first half of Monday's
session.  That all changed when the tech sector began its
afternoon rally.  CTSH launched off the $60.00 level and reached
our entry trigger at $61.40 shortly after 1:00.  Shares spiked to
an intraday high of $64.17 before finishing with a 3.8% gain.  At
this time we're going to tighten our stop to $58.54, just under
Friday's low.  Those who are still looking to open long positions
can watch for a pullback to the $61.50 region.




---

L-3 Communications - LLL - close: 54.84 change: +2.00 stop: 48.95

Defense stocks traded strong today amid more talk of an imminent
war with Iraq.  LLL continued to distance itself from the 200-dma
and posted a gain of 3.7%.  Our entry trigger of $53.25 was hit
within the first hour of trading.  Now that this play is
activated, our stop is set at $48.95.  New entries can be
targeted on a break above today's high ($55.05) or a pullback to
the 200-dma at $52.47.






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

===============
AT Closed Play
===============

Closed Short Play
=================

Citigroup Inc - C - close: 31.07 change: +0.79 stop: 31.26

Shares of C traded in a bearish fashion this morning after fellow
financial giant J.P. Morgan was downgraded by Merrill Lynch.  C
fell as low as $29.51 before charging higher with the Dow Jones
during the latter half of the session.  Our stop-loss was
violated during the final hour of trading, thus closing our short
play for a gain of 6.6%.  With the oscillators looking strong and
shares beginning to fill in the September 3rd gap, it would not
be surprising to see the stock rally back to its 50-dma ($33.93)
within the next few sessions.  A rollover from this moving
average might provide another shorting opportunity.

Picked on August 26th at $33.49
Results since picked:     +2.23
Earnings Date          07/17/02 (confirmed)




=================================================================
High Risk/High Reward (HR) section
=================================================================


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

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

NASDAQ 100 Shares - QQQ - close: 23.08 change: +0.23 stop: 21.90

Chances of this play being triggered seemed slim on Monday
morning, as the NASDAQ sunk under Friday's lows.  But the bulls
pieced together a nice afternoon rally and eventually pushed the
index above the 1300 level.  Our long play in the QQQ's was
triggered at $23.23.  On Tuesday we'll be looking for shares to
break above today's high of $23.37 and test the 50-dma at $24.00.
Our stop is set at $21.90.






===============
HR Closed Play
===============

Closed Short Play
=================

IDEC Pharmaceuticals - IDPH - cls: 42.01 chg: +1.30 stop: 41.80

Signs of a turnaround emerged for IDPH last week when the stock
broke its pattern of lower highs.  We were looking for overall
sector negativity to trump this technical strength.  However, The
BTK.X biotech index led the NASDAQ higher today and finished to
2.8% to the good.  This bullish sector action helped to propel
IDPH to a 3.1% gain.  Our play was stopped out for a loss of 8.3%
when shares violated our stop-loss in afternoon trading.  The
uptrending oscillators and recent three-box p-n-f reversal are
indications that IDPH may soon revisit the $45.00 region.
There's a good deal of overhead congestion, and it would take a
serious effort on the part of the bulls to push shares back to
the August high of $47.67.  Meanwhile, the BTK.X is also
displaying strong oscillators and looks like it may rally to the
360-365 area.

Picked on September 5th at $38.59
Results since picked:       -3.21
Earnings Date            07/17/02 (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

FRK     Florida Rock Industries    35.07     +1.20
FNF     Fidelity National Fncl     30.86     +0.61
FBP     First Bancorp Holding      40.67     +0.63
TXI     Texas Industries           28.82     +1.52
MSA     Mine Safety Appliance      39.85     +4.25
MIMS    Mim Corporation            11.40     +0.69

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

RGLD     Royal Gold Inc.          16.80     +1.90
HGMCY    Harmony Gold Mining      17.66     +1.35
ELAB     Eon Labs Inc.            19.67     +1.17
TREE     Lendingtree Inc.         15.85     +1.90
---------------------------------------
Breakout to Upside (Stocks over $20)
---------------------------------------
Ticker  Company Name               Close     Change

ITMN    Intermune Inc.             28.91     +1.52
BZH     Beazer Homes Inc.          71.57     +5.43
CTSH    Cognizant Technologies     62.87     +2.33
BSX     Boston Scientific          29.75     +1.23
ASA     Asa Ltd.                   33.57     +1.46
PSS     Payless Shoe Sources       57.55     +1.52

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

UPSI    Utd Surgical Pt.           28.07     -1.18
DCOM    Dime Community Bancshare   24.53     -1.18
SNA     Snap-On Inc.               24.45     -3.50
CSGP    Costar Group Inc.          22.87     -1.63
FPL     Fpl Group Inc.             52.85     -2.85

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

NONE

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