PremierInvestor.net Newsletter Wednesday 09-11-2002 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: Overcoming Tragedy Watch List: AEP, BBBY, BSX, CCU, CSCO and more... Play of the Day: Duking it out ******************************************************************* MARKET WRAP (view in courier font for table alignment) ******************************************************************* 09-11-2002 High Low Volume Advance/Decl DJIA 8581.17 - 21.44 8726.90 8570.22 987 mln 549/430 NASDAQ 1315.45 - 4.64 1347.27 1314.96 1068 mln 663/384 S&P 100 455.41 - 0.48 464.02 454.73 totals 1212/814 S&P 500 909.45 - 0.13 924.02 908.47 RUS 2000 393.37 - 0.79 397.55 393.20 DJ TRANS 2297.32 + 9.72 2326.39 2285.87 VIX 37.23 + 0.27 38.45 35.92 VIXN 54.00 + 0.93 54.00 52.52 Put/Call Ratio 0.69 ******************************************************************* =========== Market Wrap =========== Today's market traded somberly on the anniversary of the 9/11 terrorist attacks. The Nasdaq started trading today at 11 a.m., one hour before the NYSE rang the opening bell. During the day, the Dow ascended in early trading, but ended up giving back gains, closing down -21.44 at 8581.17. The Nasdaq traded virtually flat, finishing the session down -4.64 at 1315.45. The NYSE witnessed 1351 advancers and 1337 decliners, while the Nasdaq observed 1530 winners and 1533 losers. Volume was extremely light on both exchanges, as the NYSE traded a meek 987 thousand shares, and the Nasdaq exchanged 1.06 billion issues. In news today, Tyco International (NYSE:TYC) surged forward when the company announced that is was instating United Technologies' David FitzPatrick as the new CEO. Tyco closed the session at $17.80, up +11.94%. Taiwan Semiconductor Manufacturing (NYSE:TSM) cut its 2002 production forecast by half for state of the art semiconductor wafers. The company is delaying adding new equipment to its plant for 12-inch wafers, accounting for 10% of TSM's total capacity. Shares of TSM fell -3.89% to $8.15. Martha Stewart's case of potential illegal insider selling has been passed to the Justice department for further consideration on whether charges will be filed. Martha Stewart allegedly sold almost 2000 shares of ImClone (NYSE:IMCL) shares prior to a public announcement of an FDA refusal. Martha Stewart Living Omnimedia (NYSE:MSO) declined -0.10 cents on the day to close at $8.95. Intermet (Nasdaq:INMT) dropped -27.04% today, as the company announced that it would not meet third-quarter earnings expectations, stating slow July sales. Recently, CFO Doretha Christoph resigned on August 14th, potentially alluding to internal accounting problems. Economic news Today brought forth the Beige Book from the Federal Reserve, which depicted that economic growth has slowed over the previous weeks. However, there is variation in the report with slight improvement in Atlanta and San Francisco, minor change in Boston and Dallas, and slow or irregular growth in the remaining districts. Overall the report indicates staggering (I don't think this is the word you're looking for) momentum in the economy with the exception of vehicle sales, housing, and related goods. The evidence in the Beige Book indicates that economists can expect little to no change in the September 24th Fed policy meeting. The Fed expects recovery to remain uneven over the near-term, thus another rate cut could be out of the question at this time. The ABC News/Money Magazine Consumer Comfort Index notched up to -12 this week from the previous -13. The survey has fluctuated from -15 to -11 since August, reflecting a lackluster economic environment. Attitudes of consumers are more positive now than the beginning of the year. However, the increase may simply be attributed to discount pricing of retail goods and cash out refinancing. The MBA Mortgage Applications survey leaped to ANOTHER all time high over the last week, reporting 1238.2 new applications versus 1059.5 in the prior report. This is the first time the survey has ever been above 1200, with large gains in both purchase and REFI applications. The Purchase Index rose to 401.6 from 359.7, and the REFI Index jumped to 6104.3 from 5129.6. This week's numbers suggest that nothing in the lackluster economy is putting the breaks on the housing market. Further, the numbers indicate that housing demand will remain strong over the next few months with interest rates' touching record lows just above 6%. It is estimated that homeowners will refinance over $1 trillion dollars worth of mortgages, cashing out a hefty $138 billion dollars. Importantly, the demand for purchasing applications remains strong, indicating that prospective homebuyers have no aversion to paying premiums in exaggerated markets. The simplest conclusion is that investors are staying away from equity markets, continuing to put their greenbacks into real estate. However, analysts still conclude that if and when interest rates rise above 7%, the housing and refinance markets could quickly taper off. Oil and Gas inventories were slightly mixed from EIA and API reports this week. The EIA reported that crude inventories decreased from 298.5 to 293.2, distillate inventories increased to 133.6 from 129.6, and gasoline stocks amplified to 0.3 from -1.5. The API recorded Crude inventories staying mostly flat at 298.4 from 298.9, distillate inventories leaping to -0.5 from -6.3, and gasoline inventories moving from -1.4 to 0.1. Both reports are bearish for distillate and gasoline stocks, though slightly bullish on crude. The drop in crude inventories can be attributed to the current decline of imports, though capacity utilization of refineries averaged 15.4 million barrels per day. The import decrease may have been caused from stormy weather in the Gulf, which hindered transportation of inventories. The current "war premium" per barrel is figured to be in the $8.00 area, with OPEC's current range for "acceptable" oil prices between $22-$28.00. The basket price for OPEC oil is $26.00 per barrel. Analysts concur that during the September 19th meeting, OPEC will validate the current over-production of 2-million barrels per day, by increasing quotas to match existing production. Gasoline prices are expected to remain flat, while distillate prices should gain momentum as the heating season ensues. Technicals In light trading, the Dow Jones ($INDU) failed to move above the 50-dma at 8613.63. Bulls had hoped that an emotional "patriotic" rally would push the index higher in today's session. However, the Beige Book report could have been the catalyst that took the wind out of trader's sails. Resistance on the P&F chart lies at 8750, with the most recent action indicating a low pole reversal. A low pole reversal of more than 50% is a good sign for bulls. But because the reversal is not off lows, there remains a slight amount of uncertainty. Ascending support lies in the 8250 area, with recent trading this week adding two more positive boxes to the P&F chart. On the daily candlestick chart, bulls are slightly concerned with today's failure at the 50-dma and the MACD potentially stumbling below the 0 line. Daily Stochastics are nested mid-range and could move either way. Chart of: Dow Jones Industrial Average, Daily. Causing concern, the Kbw Bank Index ($BKX.X) dipped below the 50- dma today, closing at 754.92. Bulls and bears definitely seem to have mixed feelings regarding the financials lately. The sector has witnessed many downgrades and seamlessly endless reshuffling of CEO's and CFO's. Obviously September 11th crippled the finance sector, but the ensuing problems with scandals such as Enron and WorldCom certainly haven't made the recovery any easier. Recent developments regarding CitiGroup's (NYSE:C) shady allocation of IPO shares to executives and clients has also added weight to the sector. The P&F chart displays a recent three-box reversal, though the index has run into resistance at 770. Bulls would like to see a break above this level to institute a higher trend. Chart of: Kbw Bank Index, P&F. Oil continues to raise trader's eyebrows, as supply side fears and a potential attack on Iraq could still push futures higher. Crude futures closed at $29.76 today, well above the 50-dma at $27.52, and threatening a move above $30.00 per barrel. Bears are worried that the current pattern could be a bullish flag, potentially indicating a future break out. Daily Stochastics are traveling in the overbought region, though bulls are fearful of the MACD, which has elevated high into the upper region. For now, $30.20 is the mark to watch for overly eager bulls attempting to break through resistance. Chart of: Light, Sweet Crude, Daily. Over the near-term, buyers will have to nudge the Dow, the Nasdaq Composite, and the S&P 500 well above their 50-dma's to encourage undecided investors to come off the fence. September is historically a very bearish month, while October is said to hold many bear market reversals. The short-term picture is unclear until further volume returns to the market. Over the next few days, investors should consider the possibility of an emotional rally, with September 11th passing without any terrorist fanfare. However, economic fundamentals do not support a full-bore recovery just quite yet. It's true that the economy is slowly recovering, though "slowly" is the key word. Bears could still find allies in the pessimist economist's camp, causing further potential weight on the indexes. Investors are encouraged to look for volume and keep stops tight. Tomorrow Fed Chairman Alan Greenspan will make comments in front of the Budget Committee at approximately 10 a.m. EST. Most analysts and economists expect Greenspan to reaffirm his faith in the long-term possibilities of economic growth at 3.5% for the duration of the year. Short-term interest rate futures predict a meager 12% chance that the Fed will cut rates at its September 24th meeting. President Bush will address the United Nations tomorrow, and is expected to outline the U.S.'s case for ousting Saddam Hussein. His argument will contend that Iraq is attempting to develop weapons of mass destruction, and poses a threat to world peace. Today was an emotional day for all in light of the losses suffered one year ago. Every American has been effected by the events of 9/11, and thus, we all mourn the grave circumstances that make us highlight this particular day on our calendars. The Premier Investor team would like to extend our condolences to all of those who have suffered either directly of indirectly because of the 9/11 events. As Americans, we have rebuilt from the ruined ashes of the cowardly terrorist attacks. The economy is still attempting to gain its legs, though because we live in the greatest country in the world, it will. Not only are we survivors, but we are a great nation of people who will rise above tragedy and prevail against all odds. The PI team recognizes that without this great country, we would not be able to publish this newsletter, and for that, we would like to thank you America. Sincerely, thank you. Mark Whistler Editor Questions or comments mwhistler@PremierInvestor.net Reader survey: Now that 9/11 has passed, what do you think will happen to the markets and the economy for the remainder of the year? Please email responses to editor. ================================================================== 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 --------------------------------- American Electric Power - AEP - close: 30.00 change: -0.75 WHAT TO WATCH: Readers who are familiar with our Play List already know that we have a bearish short-term outlook on the utility group. The UTY.X utility index saw a huge, unsustainable rally from its July lows and is now in the process of retracing those gains. AEP has traded in a similar fashion and may be in danger of retesting its 52-week lows. Shares pulled back by 2.4% today amid news that the company would mothball up to 16 power plants in Texas. The past two days of declines have been backed by stronger-than-average volume, indicating that the bears are firmly in control. Short positions could be gauged on a move below today's low of $29.79, which would also ensure that psychological support at $30.00 has been broken. A trade at $29.00 would produce a double-bottom sell signal on the p-n-f chart. With no clear levels of underlying support, a breakdown could result in a rapid retest of the $22-23 level. --- Bed Bath & Beyond - BBBY - close: 34.89 change: +0.54 WHAT TO WATCH: The past week has produced a number of positive technical developments in BBBY. Looking at the bar chart, one can see that shares recently moved above both the 50-day and 200- day moving averages. Today's trading saw the stock break above the August highs and psychological resistance at $35.00. Furthermore, BBBY has just cleared bearish point-and-figure resistance and is signaling a fresh double-top buy signal. The uptrending MACD indicates that BBY has more upside potential. Short-term traders can watch for a break above today's high of $35.58. Such a move could open the door for a retest of intermediate-term resistance at $38.00. --- Boston Scientific - BSX - close: 30.70 change: +0.54 WHAT TO WATCH: In sharp contrast to the DRG.X pharmaceutical index, shares of this drug-coated stent manufacturer have been uptrending for more than a year. BSX consolidated in narrow range under $30.00 over the past six weeks. The recent breakout above this resistance level must have the bears feeling pretty nervous. Uptrending action in the daily stochastics (5,3,3) and MACD is hinting at a retest of the 52-week high of $32.50. Short-term traders could target a move to this level. However, the double-top p-n-f buy signal is an indication that shares could head even higher and reach the next level of psychological resistance at $35.00. Possible bullish action points include a move above Wednesday's high ($30.84) or a pullback to $30.00. --- Clear Channel Comm. - CCU - close: 36.21 change: +0.79 WHAT TO WATCH: Shares of this media giant have staged a breakout above stubborn resistance at $35.00. Helping to propel the stock higher was yesterday's news that Merrill Lynch initiated coverage on CCU with a "buy" rating. Given the uptrending oscillators and lack of overhead resistance, odds seem good that the stock will make its way to the 200-dma at $43.97. Shorter-term traders could look for a move to bearish point-and-figure resistance at $40.00. P-n-f chartists will also note that a trade at $37.00 would create a double-top buy signal. Long entries could be gauged on a pullback to $35.00 or a move above today's high of $36.65. --- Cisco Systems - CSCO - close: 13.57 change: +0.14 WHAT TO WATCH: The most recent downtrend in CSCO came to an end on Monday after shares briefly approached bullish support on the point-and-figure chart. The subsequent bounce has taken the stock back above its 50-dma at $13.49. CSCO outperformed the NASDAQ today and posted a 1.0% gain. This relative strength, combined with the uptrending MACD and daily stochastics, are signs that shares will continue higher in the short-run. Aggressive traders could target entries at current levels, with an initial profit target near the $15.00 mark. --- Delphi Corp - DPH - close: 10.41 change: -0.12 WHAT TO WATCH: Traders who have a high risk tolerance may want to take a look at DPH. The stock has spent the better part of the past two months recovering from its precipitous June/July sell- off. This week's action has seen shares move over the psychologically important $10.00 level and rally above the 50-dma at $10.22. Investors seem to be pleased with Monday's news that Delphi had won eight new contracts to provide steering columns. These are expected to add more than $335 million in annual sales revenue to the bottom line. A glance at the bar chart shows that the stock has plenty of upside potential. DPH is currently in a "fast-move" region that extends up to the $13.00 area, where the stock briefly found support in early-July. A favorable risk/reward ratio could be created by taking long positions on a move above the relative high of $10.65 and using a stop slightly beneath Friday's low of $9.88. P-n-f chartists will notice that DPH has recently reversed into a column of "X's." --- Fifth Third Bancorp - FITB - close: 63.06 change: -2.63 WHAT TO WATCH: FITB got whacked for a 4.0% loss today after the company revealed in an SEC filing that an accounting error would result in a $54 million charge. Despite the shortened trading day, volume was heavy at almost twice the daily average. This sell-off took shares well under the 50-dma and 200-dma, the latter of which had provided support for nearly a month. FITB has also plowed into bullish p-n-f support at $63.00. With the stock signaling a fresh double-bottom sell signal and oscillators heading lower, more downside could be in store. Traders can think about going short if shares fall below today's low of $62.76. Further enthusiastic selling could quickly drag FITB down to the $58-$60 region. --- Pepsico Inc - PEP - close: 39.49 change: -0.44 WHAT TO WATCH: There's not much recent news to speak of for Pepsico, but the company's stock looks technically poised to break higher in the near future. Shares have bounced nicely from the relative low of $37.01 and are resting just below the $40.00 level. Bullish traders could target entries on a move above $40.45. This would put PEP in its August 28th gap, which was created when a brokerage downgraded the stock. Overhead resistance looms at the 50-dma ($41.89). However, the rising oscillators suggest that PEP may eventually retrace its entire late-August decline and reach the $44.00 level. --- Texas Instruments - TXN - close: 20.65 change: +0.17 WHAT TO WATCH: TXN has spent the past six months trading in a clearly-defined descending regression channel. Shares recently rebounded to the top of this channel, which is bolstered by the 50-dma at $21.82. The bulls are faced with an additional obstacle at $22.00, which is the location of bearish p-n-f resistance. The daily stochastics (5,3,3) are already approaching overbought levels, indicating that TXN will have a very tough time leaping over this hurdle. Short entries can be targeted on a move under today's low ($20.55), which would help to confirm a rollover. We'd be looking for shares to fall below psychological support at $20.00 and retest the relative lows near $18.50. =============== Play-of-the-Day (Non-tech BEARISH play) =============== Duke Energy - DUK - close: 23.31 change: -0.78 stop: 25.67 Company Description: Duke Energy is a diversified multinational energy company with an integrated network of energy assets and expertise. The company manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses -- meeting the energy needs of customers throughout North America and in key markets around the world (source: American Stock Exchange) - ORIGINAL WRITE UP: September 10th, 2002 - Why We Like It: Leading the broader market higher from its July lows was the Utility index. From it's all-time low on July 24th to the relative high five weeks later, the UTY.X exploded for a 35% gain. This rally appears to have simply been the result of oversold conditions rather than positive sector news. The index has been retracing these gains for the past two weeks and appears to be picking up bearish head of steam. Moving in tandem with the utility group, DUK is also looking top-heavy. Last week the stock repeatedly bumped its head against the descending 50-dma ($25.65), only to fall below psychological support at $25.00. Shares experienced heavy selling today and spiked under intermediate-term support at $24.00. A full-blown breakdown below this level could bring more bears out of the woodwork. Although the daily stochastics are already pinned at oversold, the declining MACD and rising volume are signs that DUK will continue lower in the near-term. By entering this short play on a move below $23.75, we're hoping to ride DUK down to the $20.00 region. Our stop (if triggered) will be located at $25.67, just over the 50-dma. More conservative traders may want to use a stop slightly above $25.00. - Play-of-the-Day Comments: September 11th, 2002 - It looks like yesterday's violation of the $24.00 support level really spooked the bulls. DUK underperformed the broader market today and finished with a 3.2% loss. Our short play was activated within the first half-hour of trading when shares reached $23.74. Although we're keeping our stop-loss set just above the 50-dma, more conservative traders could use a stop slightly above today's high ($24.20). The rising volume over the past four days (today's reading was the highest in over a month!) and rolling MACD suggests that DUK will be subjected to more selling pressure. Those who are still looking to go short can consider entries on a move below $22.99. Picked on September 11th at $23.74 Results since picked: +0.43 Earnings Date 10/15/02 (unconfirmed) ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright © 2002 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Wednesday 09-11-2002 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 Stop Adjustments: CTSH (Bullish) Closed Long: SBC (Bearish) Active Trader Non-Tech Stocks Triggered Plays: CLX (Bullish) AGN, DUK (Bearish) High Risk/High Reward Plays Triggered Plays: CA, SCH (Bullish) Trading Ideas Value Plays With Bullish Signals Breakout to Upside (Stocks $5 to $20) Breakout to Upside (Stocks over $20) Breakout to Downside (Stocks over $20) Recently Overbought With Bearish Signals (Stocks over $20) ================================================================= Net Bulls Tech Stocks (NB) section ================================================================= =============== NB Play Updates =============== Stop Adjustments ---------------- Cognizant Tech. - CTSH - cls: 63.68 chg: +0.87 stop: 59.65 *new* CTSH added 1.3% today and reached a new 52-week closing high. This relative strength bodes well for an eventual rally to our profit-target at $68.49. At this time we're going to raise our stop loss to $59.65, just under Monday's low. More aggressive traders could keep stops set under last Friday's low of $58.56. =============== NB Closed PLay =============== Closed Short Play ================= SBC Communications - SBC - cls: 25.85 chg: +0.97 stop: 25.06 Broader market strength had shares of SBC gapping higher at the beginning of today's abbreviated session. Our play was stopped out at the opening trade of $25.50. This represents a 7.2% gain from our original entry point. With the daily stochastics trending higher and the MACD on the verge of a bullish crossover, SBC looks like it may retest its 50-dma at $27.10. A rollover from this level might provide another shorting opportunity, especially if the IXTCX combined telecom index is simultaneously rolling from overhead resistance near 106. Picked on August 21st at $27.49 Results since picked: +1.99 Earnings Date 07/23/02 (confirmed) ================================================================= Active Trader/Non-tech Stocks (AT) section ================================================================= =============== AT Play Updates =============== Triggered Bullish Plays ----------------------- Clorox Corp - CLX - close: 43.45 change: +0.15 stop: 41.99 Finally! After more than a week of waiting, CLX reached our entry trigger of $43.49 on Wednesday. Shares actually gapped slightly above this level, so our hypothetical trade was initiated at the opening price of $43.63. With the stock now at multi-month highs, we're looking for a near-term rally to the $47-$48 region. New entries can be gauged on a move above $44.00. Our stop is located at $41.99. Triggered Bearish Plays ----------------------- Allergan - AGN - close: 54.14 change: -1.02 stop: 57.76 Our short play in AGN was activated this afternoon when the stock hit our action point at $54.69. Shares fell steadily throughout the session and hit a new relative low of $54.00. Traders still looking to open bearish positions could watch for a break under this level. Our stop is set at $57.76. --- Duke Energy - DUK - close: 23.31 change: -0.78 stop: 25.67 It looks like yesterday's violation of the $24.00 support level really spooked the bulls. DUK underperformed the broader market today and finished with a 3.2% loss. Our short play was activated within the first half-hour of trading when shares reached $23.74. Although we're keeping our stop-loss set just above the 50-dma, more conservative traders could use a stop slightly above today's high ($24.20). Those who are still looking to go short can consider entries on a move below $22.99. ================================================================= High Risk/High Reward Plays (HR) section ================================================================= =============== HR Play Updates =============== Triggered Bullish Plays ----------------------- Computer Assoc. - CA - cls: 11.84 chg: -0.22 stop: 10.94 *new* CA gapped higher with the NASDAQ on Wednesday morning. Our long play was activated at the opening price of $12.35. Shares pulled back with the broader market in afternoon trading and finished with a loss of 1.8%. On Thursday we'll be watching for CA to move above today's high ($12.37) and rally towards the August high of $12.98. Note that because our entry point was slightly higher than anticipated, we've raised our stop-loss to $10.94. --- Charles Schwab - SCH - close: 10.02 change: -0.06 stop: 9.44 We liked SCH as a long play, but only if stock cleared Tuesday's high of $10.28. With shares gapping higher this morning, our play was triggered at the opening price of $10.55. Although shares drifted lower throughout the session, bulls can be encouraged by the close above $10.00. If SCH heads higher on Thursday, new entries can be gauged on break above the 100-dma at $10.56. ================== 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 PCG Pg&E Corp 12.87 +0.52 WGO Winnebago Industries 43.75 +1.05 SMD Singing Machine 11.80 +0.80 JOSB Jos A Bank 22.05 +2.00 GLYN Galyans Trading 11.12 +0.67 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- Ticker Company Name Close Change CMLS Cumulus Media Inc. 16.49 +1.02 OIIM O2micro International 10.49 +1.04 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- Ticker Company Name Close Change ROOM Hotel Reservations Ntwrk 48.01 +1.49 ASCA Ameristar Casinos Inc. 21.97 +1.31 BSTE Biosite Inc. 27.35 +1.58 ABFS Arkansas Best 28.27 +1.10 ENR Energizer Holdings 31.02 +1.08 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change FITB Fifth Third Bancorp 63.06 -2.63 HON Honeywell International 28.52 -1.68 OTTR Otter Tail Corp 23.80 -1.28 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change RLI Rli Corp. 57.60 -1.05 ================================================================= 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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