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) ================================================================= 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 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 ================================================================= 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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