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Daily Newsletter, Friday, 10/11/2002

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PremierInvestor.net Newsletter          Weekend Edition 10-11-2002
                                                    section 1 of 3
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:      Is October Synonymous with Bottom?
Play-of-the-Day:  Quality Earnings
Watch List:       ADBE, AGN, COCO, DLX, LLTC, WLP, and lots more!
Market Sentiment: Behind the Curtain

******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
         WE 10-11       WE 10-4         WE 9-27          WE 9-20
DOW     7850.29+321.89 7528.40 –63.58  7701.45 -284.57  7986.02 -326.67
Nasdaq  1210.47+774.16  436.31 – 9.13  1199.08 - 22.00  1221.08 - 70.28
S&P-100  422.68+ 19.46  403.22 – 4.03   413.22 - 10.68   423.90 - 20.34
S&P-500  835.32+ 35.04  800.28 –14.70   827.36 - 18.03   845.39 - 44.41
W5000   7873.03+274.41 7598.62-175.00  7872.54 -150.63  8023.17 -417.71
RUT      344.93-  3.05  347.98 –14.29   361.77 -  5.51   367.28 - 22.70
TRAN    2154.67+ 16.99 2137.68 –13.39  2185.17 +  1.15  2184.02 - 62.85
VIX       43.44-  2.84   46.28 + 3.14    43.14 -  1.41    44.55 +  5.24
VXN       58.87-  1.41   60.28 + 2.42    57.86 -  1.22    59.08 +  3.23
TRIN       0.41           1.98            2.09             0.86
Put/Call   0.93           0.97            0.90             1.16
******************************************************************

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

Is October Synonymous with Bottom?
By John Seckinger
jseckinger@OptionInvestor.com

The Dow set a multi-year low on Thursday, only to rally 700
points from Thursday's low to Friday’s high and post its first
weekly gain since mid-August.  Additionally, volume on the NYSE
on Friday was an impressive 1.8 billion shares.  More impressive
was the fact that advancing issues represented almost 90 percent
of volume.

Gains in the Nasdaq was equally impressive, as the tech-laden
index rose 10% from its low on Thursday and, like the Dow, closed
above its 22 DMA (1199).  Volume on the Nasdaq was 1.7 billion,
while up volume swamped down volume by a ratio of over 4:1.
Unlike the Dow, the Nasdaq engulfed the "real body" (candlestick
term meaning range from open to close) of the prior two weeks.

The headline catalysts on Friday included in line earnings from
GE and an upgrade of IBM from Lehman Brothers.  GE's 3Q earnings
reportedly rose 25% as NBC television and the sale of their
Internet commerce unit managed to offset weak demand in aerospace
and power markets. Shares of GE rose $1.61 to $24.21, but failed
to test its 22 DMA (25.32).

Shareholders of IBM were rewarded following a Lehman Brothers
upgrade to "overweight" from "equal weight".  The investment
house noted that third-quarter earnings for IBM should be in line
with estimates, adding that information technology spending by
corporations should improve in 2003.  Shares of IBM on Friday
rose $6.34 to $63.92 and above its 22 DMA (62.52).

Another company making headlines was Intel (INTC), ordered to
play at least $150 million in damages after a Texas-based Judge
ruled the company infringed on patents held by Intergraph (INGR).
Intel can appeal the ruling, and has already asked the Judge to
reconsider his ruling.  Shares of INTC rose 1.04, or 7.33%, to
15.22 and broke above its 22 DMA (14.72) for the first time since
late-August.

These developments seemed to be the catalyst for the Dow rising
almost 170-points during the first 10 minutes of trading.  Other
developments include weakness in the bond market and a strong
rally seen in Semiconductor, Airline, and Retail Stocks.  Just
before 2 p.m. (EST), the Dow was at 7900 and fueling speculation
that this rally was more than just traders covering shorts.

Speaking of the bond market, a rumor on Wednesday began to
circulate regarding George Soros buying a significant amount of
U.S. Treasuries.  Reasons for sizable purchases included the fact
that the European Central Bank (ECB) would lower interest rates
during their meeting on October 10th.  When the ECB kept rates
unchanged, Treasury Bonds began selling off from a high of 114-18
on Thursday to 112-03 during trading on Friday.  The December 30-
year settled on Friday down 1-14 to 112-10.  The question is: If
Soros was selling Treasuries (and most likely buying stocks) on
Friday, are there more bond contracts to be sold during trading
next week?

As the bond market came under selling pressure, some securities
fell into the red as well.  One of those was Lucent Technologies
(LU), losing 17% to 0.58 following news that the company will
report a wider-than-expected loss in the fourth quarter, cut
10,000 more jobs, and take billions in charges for severance and
a decline in its pension assets.  The company also said it
canceled a $1.5 billion credit line to avoid a likely technical
default.

Largely ignored on Friday were economic reports covering
inflation on the wholesale level, retail sales, and a preliminary
October Michigan sentiment report.  U.S. wholesale prices rose
0.1 percent last month after an unchanged reading in August,
according to the Labor Department.  The "core" PPI, which strips
out volatile food and energy costs, also rose 0.1 percent in
September following a 0.1 percent drop.  This reading seems to
fall into the category of “not deflationary or inflationary”; so
traders apparently looked elsewhere.

Overall retail sales, according to The Commerce Department,
reportedly fell 1.2 percent in September, mainly hindered by poor
automobile sales.  Excluding autos, September sales actually rose
0.1 percent.  Then, at 9:45 a.m., the University of Michigan
preliminary sentiment reportedly fell to 80.4 in October and a
new 9-year low.  September’s reading came in at 86.1.  The equity
markets momentarily sold off following the Michigan report (10-
minutes and 53 points); however, bulls were relentless and kept
the buying enthusiasm in tact.

Speaking of reports, next week will feature a significant number
of bellwether companies reporting earnings.  Below is a list of
only a few of the notable names.  On Monday FNM reports before
the open, while MYG is scheduled to release earnings after the
close.  Tuesday features companies such as BAC, ONE, BBOX, C,
FITB, FRX, FCX, GM, JNJ, LLL, and WFC; all before the open.
After-the-close on Tuesday includes AMCC, DCLK, HDI, INTC, ISSX,
MOT, NVLS, RFMD, and TER, all after the close.

Earnings on Wednesday will highlight companies including BK, BA,
CAT, KO, FBF, F, GD, GENZ, HON, HI, JPM, MER, PFE, RETK, USM,
WHR, and WB, all before the open; while AMD, AKAM, AAPL, CDWC, CLS,
IBM, IWOV, MACR, QLGC, RSAS, SEBL, SYMC, and VIGN are set to
report after the close on Wednesday.  Thursday is busy as well,
with BOL, BAX, CEN, CAL, CY, EMC, FO, GP, KEY, MAT, NYT, NOK, MO,
PNC, PPG, S, LUV, and UNH all before the open.  After-the-close
involves ATML, ELY, CPWR, EBAY, GTW, HAND, MERQ, MSFT, NT, PBI,
PMCS, DGX, RATL, SFA, FON, SUNW, SY, and XLNX.  On Friday, BGEN,
ERICY, MRK, and TLAB are scheduled to report earnings before the
open.  Busy, to say the least.

Economic reports scheduled next week includes September housing
starts on Thursday, with economists' forecasting a 1.636 million
number versus 1.609 million in August.  Also on Thursday the
Federal Reserve releases industrial production and capacity
utilization figures for September.  Forecasts are for industrial
production to rise by 0.1 percent, after dropping 0.3 percent in
August.  The capacity utilization is expected to come in at a
relatively low 76 percent.

The Philadelphia Fed report, scheduled for Thursday, should be a
solid leading indicator since it covers the month of October.
Economists expect it came in at 2 against last month's 2.3.  Zero
is the break-even mark for growth at the region's manufacturers.

On Friday, the trade balance for August is scheduled. Economists
predict a larger trade deficit to 35.2 billion from 34.6 billion
the month before.  Also on Friday the consumer price index (CPI)
will be released.  Economists think it grew by 0.2 percent, lower
than August's rise of 0.3 percent.

Note:  The US fixed income market is closed on Monday, while
Canadian and Japanese markets will be closed as well.

Time for some illustrations.  We begin with the Dow, which closed
higher on Friday by 316 points, or 4.20%, to 7850.  Following the
rally seen on Thursday and Friday, is it time to talk about a
bottom?  As the chart shows, the Dow appears to be overextended
by being above both its 22 DMA and daily regression channel;
however, shorts might be patient and wait for prices to fall back
below the 22 DMA and into the channel before becoming aggressive
again.

The objective to the upside is three-fold.  As the chart
explains, the Dow managed to get back inside a monthly regression
level (profiled last Sunday) and technicians will now have a
long-range projection of near 8900.  For shorter-term traders,
psychological resistance is at 8000.  For those following moving
averages, traders will most likely look for a test of the 50 DMA
(8187). When do all of these bullish projections get nullified?
Most likely when the Dow trades back underneath 7532.

Chart of the Dow Jones Industrial Average, Daily




With yields rising on Friday more than any other day of the year,
traders will once again watch the bond market for confirmation of
a move in equities.  A chart of the cash bond shows yields now
above both its 22 DMA and top of regression channel.  I believe
the key will be (1) earning developments, and (2) possibility
Soros is not done selling Treasuries and rolling cash into stocks
(note:  unconfirmed rumor).  Nevertheless, clearly there appears
to be a shock to the bond market that cannot be ignored.  The
objective should be for yields to test the 50 DMA, while a move
back under the 22 DMA will most likely bring back all investors
who exited during the last few days.

Chart of the 30-year Treasury Bond, Daily




How are technology stocks looking from a technical perspective?
After Friday’s rally of 47-points, or 2%, to 1210, this tech-
laden index now sits above its 22 DMA (1199) and two prior
relative lows set a couple months back.  Note:  Since March,
every time the Nasdaq rose above its 22 DMA, a test of its 50 DMA
occurred soon thereafter.  The one exception was on September
11th. MACD has crossed higher, indicting a change in momentum;
however, resistance above is numerous.  A descending trend line,
the top of its regression channel, and its 50 DMA; all located
within the next 50 points higher (1260).  If the Nasdaq falls
back below 1200, shorts will most likely become more aggressive.

Chart of the Nasdaq, Daily




How about the highly-watched volatility index?  Following
Friday’s 6% loss to 43.55, it would first appear optimism is
gaining in strength.  However, a further look only places the VIX
at the bottom of a well-defined upward channel.  Therefore, I
would wait until the index trades underneath 41 before expecting
a significant decrease in the amount of market pessimism.

Chart of the Market Volatility Index, Daily




One other highly-watched index that also appears to be at the
bottom of its upward channel is the US Dollar.  With the
Greenback underneath its 22 and 50 DMA’s, the possibility of a
breakdown under 106 continues to enter traders’ minds.  If this
index can manage to rise above 108, shorts should start covering
and the likelihood of solid dollar-denominated buying will begin
to take root.  Note:  Higher dollar should mean higher equity
prices.




The last chart is "food for thought," since the month of October
is far from over and the monthly "hammer" (significant reversal
indicator) formation cannot be considered successfully achieved.
Nevertheless, if October ended today, technicians would clearly
look at this pattern as an attempt by bears to "gauge possible
depth" of the bottom before covering shorts and allowing bullish
sentiment to take over.  Note:  The last time a "hammer"
formation was seen in the Nasdaq, the market went on to rally
thousands of points higher.  Ok, I don’t expect the same
magnitude this time; nevertheless, this "hammer" formation should
increase a trader’s odds when placing a trade to the long side.

Chart of the Nasdaq, Monthly



Good luck.


=========================
Play-of-the-Day (BULLISH)
=========================
(( new non-tech long))

Alberto Culver - ACV - close: 51.32 chg: +1.28 stop: 48.49

Company Description:
The Melrose Park, IL-based Alberto-Culver Company, a multi-
national manufacturer and marketer of hair and skin beauty care
products led by its global brands: Alberto VO5, St. Ives and
TRESemme. Its Sally Beauty Company and Beauty Systems Group, with
over 2,600 stores and 900 sales consultants, is the largest
marketer to beauty care professionals in the world. (source:
company press release)

Why we like it:
Third quarter earnings season for 2002 is in full swing.
Typically the worse quarter of the year anyway, given the current
economic conditions many expect this earnings season to be one of
the worst ones yet.  The only positive is that earnings estimates
have been slashed so regularly that the bar has been lowered so
much it might almost be attainable.  For investors seeking a
company with strong earnings they might turn their attention to
ACV.  The company recently reaffirmed their full year outlook in
late September after the company had earned some $110.4 million
on sales of $2.49 Billion for the year ended September 30th,
2002.  Later on we didn't hear anything more when the CEO spoke
at a Merrill Lynch Global Branded Consumer Products Conference in
London on Oct. 2nd.  Sometimes no news can be good news for
investors.  In a recent investment interview one analyst spoke
about ACV being one company who has never taken a special charge
in their entire history.  As he put it this is a "measure of
earnings quality" (Wall Street Transcript).  We are impressed
with the stock's almost incredible relative strength.  While the
broader markets have been displaying increasingly volatile days
(mostly down), shares of ACV have been quietly trending sideways
with an upward bias from their July lows.  The recent
consolidation between $49.00 and $51.00 has been very
predictable.  Now the stock has broken out through the top of
this congestion and the MACD is supporting the move with a
bullish crossover of its own.  We think the stock might get some
bullish play as we move closer to its earnings report on October
24th.  There is some potential stock price congestion in the $52
area but our short-term target will be the $55 level.
Conservative traders could use the $49 mark to base their stop
but we're going to start the play with a stop at $48.49.

Annotated chart of ACV:



Picked on October 11th at $51.32
Gain since picked:         +0.00
Earnings Date           10/24/02 (confirmed)






==================================================================
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
---------------------------------

Adobe Systems - ADBE - close: 21.98 change: +1.54

WHAT TO WATCH: What a reversal!  ADBE looked like it had a one-
way ticket to the $15.00 level earlier this week after shares
broke support at $18.00, triggering a quadruple-bottom p-n-f sell
signal.  Of course, the bears weren't counting on an explosive
NASDAQ rally.  Fast-forward to Friday, and shares are trading at
multi-month highs.  The stock is currently in the process of
filling in the August 1st gap.  Having gone from a quad-bottom
breakdown to a triple-top breakout, the p-n-f chart is displaying
a bear trap alert.  In other words, a whole lot of shorts are
getting squeezed.  More short-covering could take ADBE to the
bottom of the gap ($23.72) or even the next level of
psychological resistance at $25.00.  Aggressive traders can
target entries on a move above today's high ($22.20) or a
pullback to $21.00.




---

Allergan Inc. - AGN - close: 59.10 change: +1.55

WHAT TO WATCH: Shares of AGN have been trading in a clearly-
defined descending channel for several months.  Now that the
stock has rallied to the top of this channel, we think AGN is a
good short play.  Shares are already oversold, as shown by the
daily stochastics (5,3,3).  The p-n-f chart shows that bearish
resistance also looms overhead at $60.00.  Aggressive traders
could target short entries at current levels, but the most
prudent strategy would entail waiting for a failed rally near the
$59.50-$60.00 region.




---

Corinthian Colleges - COCO - close: 37.75 change: +1.75

WHAT TO WATCH: COCO was whacked last week after competitor DV
announced an earnings warning.  Shares have since bounced
sharply, aided by the rallying broader market and a positive
earnings report from APOL (another player in the adult education
group.)  COCO is once again trading near the all-time high at
$38.75.  A move above this level might present traders with a
bullish action point.  The rising daily stochastics and MACD
(which is curling higher from the baseline) bode well for an
imminent breakout.  Very short-term traders could target a move
to the $40.00 level, but the triple-top buy signal created by a
trade at $39.00 would suggest that a more dramatic rally is in
the cards.




---

Deluxe Corp. - DLX - close: 47.59 change: +1.69

WHAT TO WATCH: Coming on the heels of the previous session's
enthusiastic bounce from the 200-dma ($43.91), DLX posted a 3.6%
gain on Friday.  This move took the stock above resistance in the
$47.00-47.25 area, and also produced a triple-top breakout on the
point-and-figure chart.  Shares are trading at multi-month highs,
within striking distance of the all-time high at $50.13.  The
reversing daily stochastics are pointing towards a retest of this
level.  Earnings are coming up on Thursday morning, but short-
term traders can look for entries on a pullback to the $47.00
area.




---

DIANON Systems - DIAN - close: 37.17 change: -3.61

WHAT TO WATCH: A lowered earnings outlook from nursing home
operator KIND had some members of the healthcare group trading
lower on Friday.  DIAN was hit for an 8.8% loss on strong volume,
as shares broke through support at $37.50.  Further support may
emerge at $35.00, but the spread-triple point-and-figure sell
signal is hinting at a more painful decline.  Short entries can
be considered on a move under today's low ($36.30), with an
initial profit near the $33.00 level.  Further negative news
could push DIAN all the way down to its 52-week low of $31.20.




---

Expedia Inc. - EXPE - close: 47.50 change: +4.07

WHAT TO WATCH: EXPE fell like a rock after support at $50.00 gave
way at the end of September.  Hungry bears managed to drag the
stock all the way down to a multi-month low of $37.70 before the
broader market rally led to a powerful oversold bounce.  We think
a rollover from the 50-dma ($49.59) would offer a good shorting
opportunity.  The fundamental uncertainty created by Northwest
Airlines' decision to end its contract with Expedia remains.
Potential investors may be scared away by the possibility that
other airlines will follow NWAC's lead.  From a technical
perspective, shares would be overdue for a pullback after such a
steep rally, and the 50-dma (just below psychological resistance
at $50) makes for easy risk management.




---

Goldman Sachs - GS - close: 64.20 change: +3.12

WHAT TO WATCH: "Will it last?"  That's the question on the lips
of most traders this weekend.  The Thursday-Friday rally was
impressive, but we've seen this sort of thing plenty of times
during the current bear market.  You know the pattern: Once the
panicked short-covering subsides, the downtrend resumes anew.  If
this is the case once again, GS looks like a good short at
current levels.  The stock rebounded sharply from its 52-week
lows but was turned back from the $65.00 level, which had
previously provided support.  Further bad news in the financial
sector (which is pretty darn common these days) might trump the
technical strength shown by the bullish oscillators.  A resumed
downtrend could lead to a retest of the 52-week lows near $59.00.




---

Linear Technology Corp. - LLTC - close: 23.44 change: +1.71

WHAT TO WATCH: The past two days of explosive gains in the NASDAQ
have helped the semiconductor index (SOX.X) to rebound from its
recent multi-year low of 209.  The bulls might be eyeing a move
to 300, but first they'll have to contend with a formidable
obstacle at 250.  This level of psychological resistance lies
just below the top of the index's descending channel, which has
dictated the trading range for nearly seven months.  A rollover
could send the SOX.X back towards the 200 region.  We'll be
watching LLTC for a similar failed rally.  The stock has climbed
sharply from the $20.00 region and is approaching the 50-dma at
($24.72).  Watch for a rollover near this level to provide a
bearish entry point.  We'd be eyeing a retest of the recent lows.




---

Wellpoint Health Ntwk - WLP - close: 80.84 change: +2.44

WHAT TO WATCH: Many healthcare-related issues did a good job of
weathering the latest market sell-off, and some are beginning to
break out.  Such is the case with WLP, which just cleared
resistance at $80.00.  Shares moved to a multi-month high today
after Goldman Sachs added the stock to its Recommend List.  The
ascending triple-top p-n-f buy signal and bullish daily
stochastics are signs that WLP will keep moving higher next week.
We actually discussed adding Wellpoint to our Play List, but were
concerned that the overhead trendline (formed by drawing a line
across the relative highs on the daily chart) might act as
resistance.  The bulls might also be stymied by the July high at
$81.30.  However, once this level is cleared, WLP could quickly
make it way towards the all-time highs near $86.00.




------------
RADAR SCREEN
------------

BRO - Shares have broken above both the 200-dma ($31.24) and what
had been stubborn resistance in the $31.50-$32.00 region.
Entries can be targeted on a move above $33.00, with an initial
target near $36.00.  Be aware of possible resistance at $34.00.

MME - Another strong healthcare stock.  MME cleared the $40.00
resistance level on Friday, en route to setting an all-time high.
The move came on strong volume, which bodes well for the
sustainability of this rally.  The rising oscillators and a
bullish p-n-f chart indicate that shares will continue to set new
highs.

WGOV - There was no news to explain it, but WGOV tanked by 4.1%
on Friday.  This move was backed by the highest volume (169,000
shares) since January.  The weekly chart looks like WGOV could
eventually fall to the $35.00 area.  Bearish positions could be
gauged at current levels or on a move below $40.00.

AMZN - Amazon has shown great relative strength versus the
NASDAQ, and shares are boasting a fresh breakout above resistance
at $18.00.  A pullback to this level would provide an entry point
to go long, as would a move above today's high ($18.46).  We'd be
watching for a rally to the $20.00 area.

WSH - Nice breakout for this insurance stock, which is trading at
all-time highs.  Long entries could be considered on a move above
$35.00, with an initial profit-target of $40.00.


================
Market Sentiment
================

Behind the Curtain

by Steven Price

I think back to Yakov Smirnov's line in Coming to America, "What
a country!"  Then I look at the Dow and think the same thing -
you're down and out one day, riding the low point, looking into
the abyss; and two days later, euphoria reigns supreme after a
massive rally.  "What a market!"    Well what is interesting
about the booming 653 point rally off of Thursday morning's low
is where it stopped.   I'm not going to tell you that it's not
significant, or that the down trend line has not been broken -
both of these are true.  However, a look at the 1879.52 point
loss from the August 22 high of 9077, to Thursday morning's low
of 7197, shows that today's rally stopped dead the 38.2%
fibonacci retracement level of 7915. The daily high was actually
7901, which lends credence to 7900 as resistance, as well. The
other bearish fact is that until we get a higher high ( a break
of 8012), the trend of lower highs and lower lows is still in
tact.  Maybe I sound bitter because I neglected to close all of
my short positions two days ago. However, if you drop a dead cat
from a high enough level, its bounce will last a little longer.
I am struggling with my inner bear, because when I look at the
chart in front of me, I see a pretty impressive rebound.
However, if the Dow had settled just above the 38.2% level,
rather than falling from it, I would be more comfortable
strapping on my horns.  If 8000 weren't also looming above, I
wouldn't feel like the bull running into the matador's red flag.
Of course, this red flag may have a brick wall behind it if we
ever get there.

This morning's news was mediocre, at best.  Retail sales fell
1.2% (+0.1% ex. auto) and preliminary Consumer Sentiment number
reached a 9-year low of 80.4, down from 86.2 in September and far
below expectations of 85.7.   The current conditions index hit a
10 year low, falling from 95.8 to 92.9, as well.  Consumers think
that unemployment will rise, the economy will worsen, and the
Federal Reserve will not lower rates. Yet still we rallied in
impressive fashion.

Can you say "short covering?"

The market actually bounced on Thursday just after breaking the
July intraday low in the SPX, and after the Market Volatility
Index (VIX.X) crossed the 50 level.  My impression is that market
bears that had been short for the last couple of months saw these
signals as a sign to cash out their winnings.  In addition to
these levels, bullish percentages had fallen into far oversold
territory, with the Dow getting down to 8%, the NDX to 14% and
the SPX to 20%.  What is even more interesting is the bullish
percentage in the NYSE, which bottomed at 26% for the third
straight time and then rebounded.  If we break below that level,
watch out below; but if not, then the rally has some room to run.
The last two rebounds took the percent up to 52 and 44. The
current rally still has not registered a 3-box reversal up to
32%.

IBM led the rally after a Lehman Brothers upgrade this morning,
just ahead of next week's earnings release.  The stock came back
from the dead, and the EDS warning, tacking on $6.34 to close at
$63.92.  In spite of one I.T. spending warning after another,
Lehman apparently believes IBM will be able to meet already mild
expectations.  Next week will bring plenty of earnings reports,
and although warning season is in full swing, there may still be
a few surprises on release day.  Along with IBM on the 16th, we
will also get AMD, Apple, J.P. Morgan, QLogic and Coke. That is
just a sample of one day's schedule, so given recent market
volatility, next week should be a wild ride.

Today brought forecasts of another steep decline in on-line
advertising revenue, which only underscores the needs of internet
portals to find other streams of fee-based revenue, much like
Yahoo has done.

Lucent announced that it would take a $4 billion charge and cut
an additional 10,000 jobs, as it struggles with lower sales. $1
billion of the charge will be due to restructuring costs, while
$3 billion is related to the decline in value of stock in its
pension fund. The company said it expects sales to fall as much
as 25% in the third quarter and it will post its 10th straight
quarterly loss.  The telecom equipment industry does not look
like it will be turning around any time soon, as many telephone
companies have filed for bankruptcy, and the ones that are still
solvent have slashed spending to offset lower sales.

If the Dow breaks above 8012 and the Nasdaq crosses 1240, I may
be changing my tune and my positions, as well.  Until then I
can't seem to put my faith in a rally that has materialized on no
good news.  Right now it seems like a technical bounce, but I
will remember to trade what I see and leave my ego in the
passenger seat.  Just be careful of the red flag, you won't know
what's behind it until you get there.


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

Market Averages

DJIA ($INDU)

52-week High: 10679
52-week Low :  7286
Current     :  7850

Moving Averages:
(Simple)

 10-dma: 7612
 50-dma: 8286
200-dma: 9421

S&P 500 ($SPX)

52-week High: 1176
52-week Low :  775
Current     :  835

Moving Averages:
(Simple)

 10-dma:  811
 50-dma:  876
200-dma: 1022

Nasdaq-100 ($NDX)

52-week High: 1734
52-week Low :  795
Current     :  890

Moving Averages:
(Simple)

 10-dma:  836
 50-dma:  912
200-dma: 1213

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

The Semiconductor Index (SOX.X): I am revisiting the semis (I
haven't forgotten about them) as they attempted a rebound of
major proportions.  If the index had been able to hold above 250,
I would have been torn as to whether the trend of lower highs and
lower lows had been broken.  The high of 256 on 9/25 is the
alternative, but thank goodness, I didn't have to make that
decision.  Thank goodness for the shorts, anyway.  Today's rally
touched 250.41, only to be turned back to a close of 246.22. the
fact that it was turned back at a significant resistance level
tells me there are shorts in the sector sitting on the 250 mark
and it will take another major push to move them out of the way.
The other level to watch is the intraday high of 263 from 10/02.
If these levels are both broken, then apparently the lack of IT
spending will be forgiven, and all will be well.  I will have a
big problem believing in this sector until we see an increase in
technology spending or in PC demand, but that doesn't mean I
won't go along for the ride if we do break through.  After all,
profits and losses aren't picky about where they happen.

52-week High: 657
52-week Low : 282
Current     : 316

Moving Averages:
(Simple)

 10-dma: 232
 50-dma: 284
200-dma: 449


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

Market Volatility

The VIX continued to drop on the massive Dow rally.  However, the
index remains above 40, reflecting still inflated premiums.
Although we have seen a rally of over 600 points from Thursday
morning's low, we have retraced barely 1/3 of the losses since
the index topped out at 9077 on August 22.  This could  simply
be a bear market rally, and with the VIX still at high levels,
that sentiment is apparently shared by OEX traders. There are
a slew of earnings reports due next week, and until we see the
Dow close above 8000, or we get some positive earnings surprises,
I expect the VIX to remain above 40.


CBOE Market Volatility Index (VIX) = 43.44 -2.85
Nasdaq-100 Volatility Index  (VXN) = 58.87 -3.95

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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.93        777,778       723,811
Equity Only    0.70        562,047       393,808
OEX            1.15         62,469        71,939
QQQ            1.01         57,318        57,925

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

Bullish Percent Data

           Current   Change   Status
NYSE          26      + 1     Bull Correction
NASDAQ-100    22      + 7     Bull Alert
Dow Indust.   13      + 3     Bull Correction
S&P 500       22      + 4     Bear Confirmed
S&P 100       20      + 3     Bear Confirmed

Bullish percent measures the number of stocks in an index
currently trading on a buy signal on their point and figure
chart.  Readings above 70 are considered overbought, and readings
below 30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - Pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend

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

5-Day Arms Index   0.77
10-Day Arms Index  1.15
21-Day Arms Index  1.37
55-Day Arms Index  1.32

Extreme readings above 1.5 are bullish, and readings below .85
are bearish.  These signals don't occur often and tend be early,
but when they do, they can signal significant market turning
points.

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

Market Internals

        Advancers     Decliners
NYSE       2267           496
NASDAQ     2241          1017

        New Highs      New Lows
NYSE         21             209
NASDAQ       17             263

        Volume (in millions)
NYSE     2,124
NASDAQ   1,906


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

Commitments Of Traders Report: 10/08/02

Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts at the
Chicago Mercantile Exchange and Chicago Board of Trade. COT data
can be found at www.cftc.gov.

Small specs are the general trading public with commercials being
financial institutions. Commercials are historically on the
correct side of future trend changes while small specs tend
to be wrong.

S&P 500

Commercials got shorter, as they increased both positions,
by increased shorts by an additional 1600 contracts.
Small Traders also added significantly to both sides,
but added an additional 1800 contracts to the long side.


Commercials   Long      Short      Net     % Of OI
09/17/02      476,224   503,268   (27,044)   (2.7%)
09/24/02      425,276   442,661   (17,385)   (2.0%)
10/01/02      423,661   440,133   (16,472)   (1.9%)
10/08/02      427,070   445,135   (18,065)   (2.1%)

Most bearish reading of the year: (111,956) -   3/6/02
Most bullish reading of the year: ( 16,472) - 10/01/02

Small Traders Long      Short      Net     % of OI
09/17/02      182,243   116,377    64,866     21.7%
09/24/02      124,232    73,506    50,726     25.7%
10/01/02      123,371    74,704    48,667     24.5%
10/08/02      131,486    81,010    50,476     23.7%

Most bearish reading of the year:  36,513 - 5/01/01
Most bullish reading of the year: 114,510 - 3/26/02

NASDAQ-100

Commercials increased short positions by 2,500 contracts, while
reducing longs by 700.  Small traders reduced longs by 1,000, but
reduced shorts by 4,000, getting decidedly longer.


Commercials   Long      Short      Net     % of OI
09/17/02       72,522     75,815    (3,293) ( 2.2%)
09/24/02       46,637     54,613    (7,976) ( 7.9%)
10/01/02       46,000     52,976    (6,976) ( 7.0%)
10/08/02       45,384     55,504   (10,120) (10.0%)

Most bearish reading of the year: (15,521) -  3/13/02
Most bullish reading of the year:   9,068  - 06/11/02

Small Traders  Long     Short      Net     % of OI
09/17/02       15,288    14,142     1,146     3.9%
09/24/02       11,163     9,421     1,742     8.5%
10/01/02       11,896     9,575     2,321    10.8%
10/08/02       10,735     5,721     5,014    30.4%

Most bearish reading of the year: (10,769) - 06/11/02
Most bullish reading of the year:   8,460  -  3/13/02

DOW JONES INDUSTRIAL

Commercials increased long positions slightly, and added
3,000 short contracts, reducing the net long position
significantly.  Small traders increased long positions
by 1,000 contracts and lowered shorts by the same amount,
reducing the net short position by 50%.


Commercials   Long      Short      Net     % of OI
09/17/02       26,863    21,187    5,676      11.8%
09/24/02       18,951    10,074    8,877      30.6%
10/01/02       18,969     8,903   10,066      36.1%
10/08/02       19,550    11,823    7,727      24.6%

Most bearish reading of the year: (8,322) -  1/16/01
Most bullish reading of the year: 15,135  - 10/16/01

Small Traders  Long      Short     Net     % of OI
09/17/02       13,393    11,637     1,756      7.0%
09/24/02        7,939     9,453    (1,514)   ( 8.7%)
10/01/02        6,809    10,503    (3,694)   (21.3%)
10/08/02        7,890     9,645    (1,755)   (10.0%)

Most bearish reading of the year:  (8,777) - 10/12/01
Most bullish reading of the year:   1,909  -  1/16/01

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



Copyright ) 2002  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 10-11-2002
                                                    section 2 of 3
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
  Bullish Play Updates:  VZ

Stock Bottom / Active Trader
  New Bullish Plays:     ACV, SHFL
  Bullish Play Updates:  HLYW, ITMN
  Closed Bearish Plays:  NEU, RYL

High Risk/Reward
  Bullish Play Updates:  ORCL



==================================================================
Net Bulls (NB) Tech Stock section
==================================================================

===============
NB Play Updates
===============

  --------------------
  Bullish Play Updates
  --------------------

Verizon Comm. - VZ - cls: 35.19 chg: +2.24 stop: 32.74 *new*

There's nothing like a broad-based short covering rally to really
give a stock some upside momentum...Especially a stock that's
just staged a breakout!  Helped along by a reaffirmed sales
target from telecom equipment manufacturer NT, VZ blew through
the $34.00 resistance level and outperformed the NASDAQ with a
6.7% gain.  Whole-number resistance at $35.00 was also brushed
aside with ease.  Today's move, which produced a spread-triple
breakout on the p-n-f chart, is very encouraging for the bulls.
The daily stochastics have bullishly reversed course, offering
more evidence of technical strength.  The path has now been
cleared for a rally to our target in the $38-39 area.  We'll set
an actual exit price as shares approach that region.  New entries
can be targeted on a pullback to $34.00 or a move above today's
high ($35.60).  Our stop has been raised to $32.74, under
previous resistance at $33.00.  Note that we've also adjusted our
entry price to reflect this morning's small gap higher.

Picked on October 10th at $33.16
Results since picked:      +2.03
Earnings Date           10/29/02 (confirmed)






==================================================================
Stock Bottom / Active Trader (AT) section
==================================================================

============
AT New Plays
============

  -----------------
  New Bullish Plays
  -----------------

Alberto Culver - ACV - close: 51.32 chg: +1.28 stop: 48.49

Company Description:
The Melrose Park, IL-based Alberto-Culver Company, a multi-
national manufacturer and marketer of hair and skin beauty care
products led by its global brands: Alberto VO5, St. Ives and
TRESemme. Its Sally Beauty Company and Beauty Systems Group, with
over 2,600 stores and 900 sales consultants, is the largest
marketer to beauty care professionals in the world. (source:
company press release)

Why we like it:
Third quarter earnings season for 2002 is in full swing.
Typically the worse quarter of the year anyway, given the current
economic conditions many expect this earnings season to be one of
the worst ones yet.  The only positive is that earnings estimates
have been slashed so regularly that the bar has been lowered so
much it might almost be attainable.  For investors seeking a
company with strong earnings they might turn their attention to
ACV.  The company recently reaffirmed their full year outlook in
late September after the company had earned some $110.4 million
on sales of $2.49 Billion for the year ended September 30th,
2002.  Later on we didn't hear anything more when the CEO spoke
at a Merrill Lynch Global Branded Consumer Products Conference in
London on Oct. 2nd.  Sometimes no news can be good news for
investors.  In a recent investment interview one analyst spoke
about ACV being one company who has never taken a special charge
in their entire history.  As he put it this is a "measure of
earnings quality" (Wall Street Transcript).  We are impressed
with the stock's almost incredible relative strength.  While the
broader markets have been displaying increasingly volatile days
(mostly down), shares of ACV have been quietly trending sideways
with an upward bias from their July lows.  The recent
consolidation between $49.00 and $51.00 has been very
predictable.  Now the stock has broken out through the top of
this congestion and the MACD is supporting the move with a
bullish crossover of its own.  We think the stock might get some
bullish play as we move closer to its earnings report on October
24th.  There is some potential stock price congestion in the $52
area but our short-term target will be the $55 level.
Conservative traders could use the $49 mark to base their stop
but we're going to start the play with a stop at $48.49.

Annotated chart of ACV:



Picked on October 11th at $51.32
Gain since picked:         +0.00
Earnings Date           10/24/02 (confirmed)




---

Shuffle Master Inc - SHFL - cls: 20.10 chg: +1.28 stop: *text*

Company Description:
Shuffle Master, Inc. is a gaming supply company specializing in
providing innovative, high quality products and services to the
casino industry, including card shufflers and other table gaming
equipment, table and slot games, and gaming machine software and
related hardware. The Company was ranked as the 32nd best small
company in America by Forbes magazine in its 2001 survey; was
named to the S&P Smallcap 600 Index in April 2002; and in June
2002 was ranked the 25th fastest growing small company by Fortune
Small Business(c) magazine. (source: company press release)

Why we like it:
It's all about the earnings.  While that statement is certainly
nothing new to Wall Street we're surprised that a company related
to the gambling industry is doing so well.  SHFL recently
announced their most recent quarterly results in late August.
The company reported $15.1M in revenue for the three months
ending in July 31, 2002.  This was a 20% increase over the
previous year.  Operating income was up 27% and net income was up
almost 22%.  Probably more importantly the company stated they
were comfortable with the fourth quarter earnings range of 23 to
25 cents a share.  Management went on to say that SHLF's earnings
should grow at 20% to 25% a year for 2003 and 2004.  There are
not many companies that can make that claim these days.

The stock price peaked in late April just above $24.  Since then
it has built a wide range from $16 to $20 with a brief dip
towards the $14 level when the markets were crashing in mid-July.
Since that low SHFL has slowly fought its way back to the $20
level twice and each time it was rejected.  The most recent and
third attempt was this Friday and this time the stock closed
above the psychological round number at $20.  Unfortunately,
there is still potential resistance at $20.30 (FYI, the high
today was $20.35).  Therefore we are going to initiate this long
play if and when SHFL can trade over today's high of $20.35.
Technically our trigger will be $20.36 and we'll start with a
stop 10% lower at $18.29.  Short-term traders can look to take
profits near the $22 mark.  We're going to hang on to it and see
how far it goes.  FYI...if you prefer to use the rising lows as
your level of support a stop just under $18.00 might work, plus
you'd have the 200-dma to help out.  On a trading note, SHFL is
involved with some recent litigation with WMS Industries, Inc.
Both are involved in video slot machines and the two aren't
playing well with each other.

Annotated chart of SHFL:



Picked on October xxth at $xx.xx <-- see text
Gain since picked:         +0.00
Earnings Date           08/22/02 (confirmed)





===============
AT Play Updates
===============

  --------------------
  Bullish Play Updates
  --------------------

Hollywood Ent. - HLYW - cls: 19.58 chg: -0.07 stop: 19.39 *new*

Friday's trading in HLYW lacked the thrilling action that the
previous session provided.  Shares bounced around between the
$19.50 and $20.00 levels, ultimately finishing with a small loss.
Under normal circumstances a small pullback to consolidate
Thursday's gains would not raise any caution flags.  The overall
technical picture remains strong, with shares trading at fresh
multi-month highs.  However, we're a bit concerned with the fact
that shares were unable to post a gain on a day when the Dow
Jones soared by 4.1%.  The stock's inability to trade above
psychological resistance at $20.00 is also somewhat worrisome.
Monday's trading may be very telling for HLYW.  Renewed bullish
momentum could send the stock towards our exit target of $20.74.
On the other hand, shares could begin to retrace Thursday's gains
if the broader market bullishness begins to fade.  With this in
mind, we're going to challenge HLYW with a tight stop at $19.39,
two cents under today's low.  This should protect a gain of 7.3%.
More aggressive traders could use a stop just below $19.00.

Picked on October 9th at $18.06
Results since picked:     +1.59
Earnings Date          10/22/02 (unconfirmed)




---

InterMune Inc - ITMN - cls: 32.36 chg: +0.17 stop: 29.98

The BTK.X biotech index and DRG.X pharmaceutical index both
traded higher on Friday, but not with the same bullish gusto that
gripped other groups.  This may be due to the fact that the
sectors had mostly traded sideways recently, and thus did not
have as much short interest built in.  ITMN continued its recent
uptrend today with a 17-cent gain.  With the daily stochastics
moving higher from the oversold region, we think shares could
continue to rise next week.  New entries can be evaluated on a
move above today's high ($33.29), but bear in mind that we'll
close this play if shares trade at or above $34.94.  Conservative
traders may want to place their stops just under the $31.00
level.  We're keeping our set below psychological support at
$30.00.

Picked on October 8th at $31.39
Results since picked:     +0.97
Earnings Date          10/23/02 (unconfirmed)





===============
AT Closed Plays
===============

  --------------------
  Closed Bearish Plays
  --------------------

Neuberger Berman - NEU - cls: 26.19 chg +1.20 stop: 25.51

We knew that NEU could see some steep gains after the bulls
successfully defended the $23.00 support level for four straight
sessions.  Our stop was lowered in an effort to minimize this
play's upside exposure, but unfortunately that turned out to be a
moot point.  Positive earnings from GE and a brokerage upgrade
from IBM had the broader market trading in a bullish fashion on
Friday morning.  NEU gapped sharply higher and began trading well
above our stop at $25.51.  This paper trade was closed at the
initial trade of $26.95 for a net loss of 2.94, or 12.2%.  Shares
traded in tandem with the XBD.X broker/dealer index and finished
the day with a 4.8% gain.  Although optimistic bears can be
heartened by the rollover from $27.00, the rising MACD and daily
stochastics suggest that NEU may rally up to the next level of
resistance near $28.00.  We would not recommend holding short
positions at this time.

Picked on October 5th at $24.01
Results since picked:     -2.94
Earnings Date          10/22/02 (confirmed)




---

Ryland Group Inc - RYL - close: 35.21 change: +1.35 stop: 35.60

Two days of huge gains on the Dow Jones have a way of propping up
even the weakest stocks.  Our short play was working well earlier
this week as shares dropped to multi-month lows, but the past two
sessions have seen the homebuilding sector stage a solid rebound.
Ryland moved higher with the DJUSHB home construction index
higher on Friday and violated our stop at $35.60.  This play was
closed for a very manageable 2.7% loss.  Although the longer-term
downtrend is still intact, we're content to step aside while the
bulls work off some steam.  The rising oscillators and close
above resistance at $35.00 are indications that RYL will test the
top of its descending channel near $37.50.  A rollover from this
level might provide another shorting opportunity.

Picked on October 4th at 34.65
Results since picked:    -0.95
Earnings Date         10/22/02 (confirmed)






==================================================================
HIGH RISK/HIGH REWARD (HR) section
==================================================================

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

  --------------------
  Bullish Play Updates
  --------------------

Oracle Corp. - ORCL - close: 9.05 change: +0.54 stop: 8.19 *new*

Wells Fargo re-initiated coverage on Oracle with a lukewarm
"hold" rating on Friday.  The firm said that ORCL is over-priced
in the $10-$12 region, based on continued IT spending worries,
longer-term growth concerns, and competitive pricing pressure.
On a normal day, shares may have been pressured by this news.
But today was far from normal.  The entire tech sector shot
higher after IBM received some positive brokerage comments.  The
widespread short-covering that began on Thursday helped to propel
the NASDAQ above 1200.  ORCL traded in lockstep with the $GSO.X
and finished with a 6.3% gain.  Our long play was activated this
morning at $8.73.  The fact that shares closed near the highs of
the day bodes well for a continued ascent next week, as do the
rising daily stochastics and three-box p-n-f reversal.  Of
course, that pesky 50-dma ($9.26) looming overhead could pose a
problem.  Traders still looking to go long should wait for ORCL
to clear this level before considering new positions.  We've
bumped our stop-loss up to $8.19, but more conservative types may
want to use a stop just below the $8.50 level.

Picked on October 11th at $8.73
Results since picked:     +0.32
Earnings Date          12/17/02 (unconfirmed)







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Copyright ) 2002  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter         Weekend Edition 10-11-2002
                                                   Section 3 of 3
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 three:

Market Watch for Week of October 14th
   - Major Earnings
   - Stock Splits
   - Economic Reports

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)

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


=========================================
Market Watch for the week of October 14th
=========================================

------------------------
Major Earnings This Week
------------------------

Symbol  Company               Date           Comment      EPS Est

------------------------- MONDAY -------------------------------

BRE    BRE Properties        Mon, Oct 14  After the Bell      0.67
CSL    Carlisle Companies    Mon, Oct 14  After the Bell      0.62
ETN    Eaton                 Mon, Oct 14  -----N/A-----       1.21
GMH    Hughes Electronics    Mon, Oct 14  -----N/A-----      -0.08
KRI    Knight-Ridder         Mon, Oct 14  Before the Bell     0.81
MYG    Maytag                Mon, Oct 14  -----N/A-----       0.66
MHK    Mohawk Industries     Mon, Oct 14  -----N/A-----       1.20
PKG    Pack Corp of America  Mon, Oct 14  Before the Bell     0.13
SONC   Sonic Corporation     Mon, Oct 14  After the Bell      0.38
SOV    Sovereign Bancorp     Mon, Oct 14  -----N/A-----       0.33
TIN    Temple Inland         Mon, Oct 14  -----N/A-----       0.25
UIS    Unisys                Mon, Oct 14  After the Bell      0.17

------------------------- TUESDAY ------------------------------

ACF    AmeriCredit           Tue, Oct 15  After the Bell      0.62
ASO    AmSouth Bancorp       Tue, Oct 15  Before the Bell     0.43
BAC    Bank of America       Tue, Oct 15  Before the Bell     1.41
ONE    Bank One              Tue, Oct 15  Before the Bell     0.70
CDN    Cadence Design Sys    Tue, Oct 15  After the Bell      0.15
COF    Capital One Financial Tue, Oct 15  -----N/A-----       0.99
CNB    Colonial BancGroup    Tue, Oct 15  -----N/A-----       0.30
CBSS   Compass Bancshares    Tue, Oct 15  -----N/A-----       0.61
FBAN   F.N.B. Corporation    Tue, Oct 15  After the Bell      0.54
FNM    Fannie Mae            Tue, Oct 15  Before the Bell     1.57
FITB   Fifth Third Bancorp   Tue, Oct 15  Before the Bell     0.70
FRX    Forest Laboratories   Tue, Oct 15  Before the Bell     0.73
FCX    Freprt-McMRn Cop Gld  Tue, Oct 15  -----N/A-----       0.36
FULT   Fulton Financial      Tue, Oct 15  -----N/A-----       0.33
GCI    Gannett               Tue, Oct 15  Before the Bell     0.99
GM     General Motors        Tue, Oct 15  Before the Bell     0.99
GNTX   Gentex                Tue, Oct 15  -----N/A-----       0.27
HDI    Harley-Davidson       Tue, Oct 15  After the Bell      0.46
HCN    Health Care REIT      Tue, Oct 15  During the Market   0.68
HCBK   Hudson City Bancorp   Tue, Oct 15  After the Bell      0.25
HU     Hudson United Bancorp Tue, Oct 15  -----N/A-----       0.57
INTC   Intel                 Tue, Oct 15  After the Bell      0.13
JNC    John Nuveen           Tue, Oct 15  Before the Bell     0.31
JNJ    Johnson & Johnson     Tue, Oct 15  Before the Bell     0.59
LLL    L-3 Comm Hldng        Tue, Oct 15  -----N/A-----       0.61
LLTC   Linear Technology     Tue, Oct 15  After the Bell      0.17
MEL    Mellon Finl Corp      Tue, Oct 15  -----N/A-----       0.42
MLNM   Mill Pharmaceuticals  Tue, Oct 15  After the Bell     -0.27
MOT    Motorola              Tue, Oct 15  After the Bell      0.05
NVLS   Novellus Systems      Tue, Oct 15  After the Bell      0.09
PH     Parker Hannifin       Tue, Oct 15  Before the Bell     0.41
PNR    Pentair               Tue, Oct 15  Before the Bell     0.75
PPDI   Pharm Prd Development Tue, Oct 15  After the Bell      0.33
PPP    Pogo Producing        Tue, Oct 15  During the Market   0.46
PII    Polaris Industries    Tue, Oct 15  Before the Bell     1.56
RFMD   RF Micro Devices      Tue, Oct 15  After the Bell      0.03
PHG    Royal Philips         Tue, Oct 15  -----N/A-----        N/A
SKFR   SKF AB                Tue, Oct 15  -----N/A-----        N/A
STT    State Street          Tue, Oct 15  Before the Bell     0.55
TER    Teradyne              Tue, Oct 15  After the Bell     -0.29
TRMK   Trustmark Corporation Tue, Oct 15  After the Bell      0.51
TSS    TSYS                  Tue, Oct 15  After the Bell      0.16
USB    US Bancorp            Tue, Oct 15  During the Market   0.46
WM     Washington Mutual     Tue, Oct 15  After the Bell      1.01
WBST   Webster Financial     Tue, Oct 15  Before the Bell     0.83
WFC    Wells Fargo           Tue, Oct 15  Before the Bell     0.84
WABC   Westamerica Bancorp   Tue, Oct 15  Before the Bell     0.66


-----------------------  WEDNESDAY -----------------------------

ABT    Abbott Laboratories   Wed, Oct 09  -----N/A-----       0.48
AMD    Adv Micro Devices     Wed, Oct 16  After the Bell     -0.67
AL     Alcan Inc.            Wed, Oct 16  Before the Bell     0.46
ADS    All Data Systems Corp Wed, Oct 16  -----N/A-----       0.16
ALL    Allstate              Wed, Oct 16  Before the Bell     0.68
ABK    Ambac Financial       Wed, Oct 16  Before the Bell     1.16
ASD    American Standard     Wed, Oct 16  -----N/A-----       1.54
APH    Amphenol              Wed, Oct 16  Before the Bell     0.49
AAPL   Apple Computer        Wed, Oct 16  After the Bell      0.02
BXS    BancorpSouth          Wed, Oct 16  After the Bell      0.38
BK     Bank of New York      Wed, Oct 16  Before the Bell     0.11
BA     Boeing                Wed, Oct 16  -----N/A-----       0.59
BCR    C.R. Bard             Wed, Oct 16  After the Bell      0.83
CAT    Caterpillar           Wed, Oct 16  Before the Bell     0.55
CDWC   CDW Computer Centers  Wed, Oct 16  After the Bell      0.59
CLS    Celestica             Wed, Oct 16  After the Bell      0.19
CNT    CenterPoint Prop Trst Wed, Oct 16  After the Bell      1.02
CERN   Cerner                Wed, Oct 16  After the Bell      0.36
CYN    City National         Wed, Oct 16  Before the Bell     0.89
CCE    Coca-Cola Enterprises Wed, Oct 16  Before the Bell     0.33
CMA    Comerica              Wed, Oct 16  Before the Bell     0.14
CTB    Cooper Tire & Rubber  Wed, Oct 16  Before the Bell     0.32
COT    Cott Corp             Wed, Oct 16  Before the Bell     0.23
DPH    Delphi                Wed, Oct 16  Before the Bell     0.08
DSL    Downey Financial      Wed, Oct 16  Before the Bell     0.83
ET     E*TRADE               Wed, Oct 16  After the Bell      0.12
ETH    Ethan Allen Interiors Wed, Oct 16  Before the Bell     0.53
FTN    First Tennessee Natl  Wed, Oct 16  Before the Bell     0.69
FBF    FleetBoston Financial Wed, Oct 16  Before the Bell     0.57
F      Ford Motor Company    Wed, Oct 16  Before the Bell     0.03
GD    General Dynamics       Wed, Oct 16  Before the Bell     1.32
GENZ   Genzyme               Wed, Oct 16  Before the Bell     0.28
GSF    GlobalSantaFe Corp.   Wed, Oct 16  Before the Bell     0.30
GPT    GreenPoint Financial  Wed, Oct 16  Before the Bell     1.39
HRS    Harris                Wed, Oct 16  -----N/A-----       0.29
HIB    Hibernia Corporation  Wed, Oct 16  -----N/A-----       0.41
HON    Honeywell             Wed, Oct 16  Before the Bell     0.50
HMT    Host Marriott REIT    Wed, Oct 16  Before the Bell     0.11
HI     Household Intl        Wed, Oct 16  Before the Bell     1.17
IDPH   IDEC Pharmaceuticals  Wed, Oct 16  After the Bell      0.21
ITW    Illinois Tool Works   Wed, Oct 16  Before the Bell     0.78
IBM    Intl Bus Machines     Wed, Oct 16  After the Bell      0.96
JPM    J.P. Morgan Chase Co  Wed, Oct 16  Before the Bell     0.07
KMI    Kinder Morgan         Wed, Oct 16  -----N/A-----       0.64
KMP    Kndr Mrgn nrgy Prtnrs Wed, Oct 16  -----N/A-----       0.44
KFT    Kraft Foods Inc.      Wed, Oct 16  After the Bell      0.50
LEG    Leggett & Platt       Wed, Oct 16  After the Bell      0.27
MER    Merrill Lynch         Wed, Oct 16  Before the Bell     0.58
MIL    Millipore             Wed, Oct 16  After the Bell      0.43
NCC    National City         Wed, Oct 16  Before the Bell     0.61
NYCB   New York Com Banc     Wed, Oct 16  Before the Bell     0.55
NFB    North Fork Bancorp    Wed, Oct 16  Before the Bell     0.66
NTRS   Northern Trust        Wed, Oct 16  Before the Bell     0.43
ODP    Office Depot          Wed, Oct 16  Before the Bell     0.27
BTU    Peabody Energy Corp.  Wed, Oct 16  Before the Bell     0.36
PFE    Pfizer                Wed, Oct 16  -----N/A-----       0.38
PGR    Progressive           Wed, Oct 16  After the Bell      0.82
PFGI   Provident Finl Group  Wed, Oct 16  Before the Bell     0.61
PSD    Puget Sound Energy    Wed, Oct 16  After the Bell      0.04
QLGC   QLogic                Wed, Oct 16  After the Bell      0.26
RTRSY  Reuters Group         Wed, Oct 16  -----N/A-----        N/A
RHI    Robert Half Intl      Wed, Oct 16  After the Bell     -0.01
RSLN   Roslyn Bancorp        Wed, Oct 16  Before the Bell     0.46
RDC    Rowan Companies       Wed, Oct 16  Before the Bell     0.09
SON    Sonoco Products       Wed, Oct 16  -----N/A-----       0.33
SOTR   SouthTrust            Wed, Oct 16  Before the Bell     0.46
STJ    St. Jude Medical      Wed, Oct 16  Before the Bell     0.36
SWK    Stanley Works         Wed, Oct 16  Before the Bell     0.66
SYK    Stryker               Wed, Oct 16  After the Bell      0.37
SYMC   Symantec              Wed, Oct 16  After the Bell      0.31
SNV    Synovus Financial     Wed, Oct 16  -----N/A-----       0.31
TCB    TCF Financial         Wed, Oct 16  Before the Bell     0.80
TFX    Teleflex              Wed, Oct 16  After the Bell      0.70
TDS    Telephone Data        Wed, Oct 16  During the Market   0.84
TPP    Teppco                Wed, Oct 16  -----N/A-----       0.44
KO     The Coca-Cola Company Wed, Oct 16  Before the Bell     0.48
TRW    TRW                   Wed, Oct 16  Before the Bell     0.83
UB     UnionBanCal           Wed, Oct 16  After the Bell      0.85
VLY    Valley National Banc  Wed, Oct 16  -----N/A-----       0.40
GWW    W.W. Grainger         Wed, Oct 16  Before the Bell     0.63
WB     Wachovia              Wed, Oct 16  Before the Bell     0.70
WHR    Whirlpool             Wed, Oct 16  Before the Bell     1.58


------------------------- THURSDAY -----------------------------

AFCI   Advanced Fibre Comm   Thu, Oct 17  After the Bell      0.04
ASBC   Associated Banc-Corp  Thu, Oct 17  After the Bell      0.69
AF     Astoria Financial     Thu, Oct 17  After the Bell      0.72
ALV    Autoliv               Thu, Oct 17  -----N/A-----        N/A
ADP    Automatic Data Proces Thu, Oct 17  -----N/A-----       0.34
BOL    Bausch & Lomb         Thu, Oct 17  Before the Bell     0.44
BAX    Baxter International  Thu, Oct 17  -----N/A-----       0.51
BCC    Boise Cascade         Thu, Oct 17  Before the Bell     0.06
BRCM   Broadcom              Thu, Oct 17  -----N/A-----      -0.03
BR     Burlington Resources  Thu, Oct 17  Before the Bell     0.13
CEN    Ceridian              Thu, Oct 17  Before the Bell     0.19
CHKP   Check . Software Tech Thu, Oct 17  After the Bell      0.25
CAKE   Cheesecake Factory    Thu, Oct 17  After the Bell      0.26
CPS    ChoicePoint           Thu, Oct 17  Before the Bell     0.35
CL     Colgate-Palmolive     Thu, Oct 17  -----N/A-----       0.57
CFBX   Community 1st Banksh  Thu, Oct 17  Before the Bell     0.51
CPWR   Compuware             Thu, Oct 17  After the Bell      0.06
ED     Consolidated Edison   Thu, Oct 17  -----N/A-----       1.32
CR     Crane                 Thu, Oct 17  After the Bell      0.34
DHR    Danaher               Thu, Oct 17  Before the Bell     0.73
DLX    Deluxe                Thu, Oct 17  Before the Bell     0.75
DV     DeVry                 Thu, Oct 17  After the Bell      0.14
DL     Dial                  Thu, Oct 17  Before the Bell     0.30
DO     Diamond Offshore Dril Thu, Oct 17  Before the Bell     0.06
D      Dominion Resources    Thu, Oct 17  -----N/A-----       1.50
EBAY   eBay                  Thu, Oct 17  After the Bell      0.20
EMC    EMC                   Thu, Oct 17  Before the Bell    -0.02
ESV    ENSCO International   Thu, Oct 17  Before the Bell     0.20
EFX    Equifax               Thu, Oct 17  Before the Bell     0.36
FVB    First Virginia Banks  Thu, Oct 17  Before the Bell     0.65
FMER   FirstMerit            Thu, Oct 17  Before the Bell     0.37
FO     Fortune Brands        Thu, Oct 17  Before the Bell     0.79
FPL    FPL Group             Thu, Oct 17  Before the Bell     1.76
GPC    Genuine Parts         Thu, Oct 17  -----N/A-----       0.55
GP     Georgia-Pacific       Thu, Oct 17  Before the Bell     0.41
GDW    Golden West Financial Thu, Oct 17  -----N/A-----       1.45
GGG    Graco                 Thu, Oct 17  Before the Bell     0.41
DA     Groupe Danone         Thu, Oct 17  -----N/A-----        N/A
GDT    Guidant               Thu, Oct 17  -----N/A-----       0.53
HSY    Hershey Foods         Thu, Oct 17  Before the Bell     0.99
HBAN   Huntington Bancshares Thu, Oct 17  Before the Bell     0.34
RX     IMS Health            Thu, Oct 17  After the Bell      0.27
IR     Ingersoll-Rand Co.    Thu, Oct 17  Before the Bell     0.57
IVC    Invacare              Thu, Oct 17  -----N/A-----       0.63
ITG    Investment Tech Group Thu, Oct 17  Before the Bell     0.39
KEY    KeyCorp               Thu, Oct 17  Before the Bell     0.57
LRCX   Lam Research          Thu, Oct 17  After the Bell      0.00
LIZ    Liz Claiborne         Thu, Oct 17  Before the Bell     0.78
MAN    Manpower              Thu, Oct 17  Before the Bell     0.44
MAT    Mattel                Thu, Oct 17  Before the Bell     0.56
KRB    MBNA                  Thu, Oct 17  -----N/A-----       0.42
MRBK   Mercantile Banksh     Thu, Oct 17  Before the Bell     0.69
MERQ   Mercury Interactive   Thu, Oct 17  After the Bell      0.16
MSFT   Microsoft             Thu, Oct 17  After the Bell      0.43
MOLX   Molex                 Thu, Oct 17  After the Bell      0.14
NCF    Natl Cmmerce Finl Crp Thu, Oct 17  -----N/A-----       0.40
NATI   National Instruments  Thu, Oct 17  After the Bell      0.13
NXY    Nexen                 Thu, Oct 17  During the Market   0.61
NOK    Nokia Corporation     Thu, Oct 17  Before the Bell     0.17
NT     Nortel Networks       Thu, Oct 17  After the Bell     -0.10
NOC    Northrop Grumman      Thu, Oct 17  Before the Bell     1.57
NVS    Novartis AG           Thu, Oct 17  -----N/A-----       0.44
NUE    Nucor                 Thu, Oct 17  -----N/A-----       0.48
PBCT   People`s Bank         Thu, Oct 17  After the Bell      0.24
PSFT   PeopleSoft            Thu, Oct 17  After the Bell      0.13
MO     Philip Morris         Thu, Oct 17  Before the Bell     1.26
PBI    Pitney Bowes          Thu, Oct 17  After the Bell      0.61
PCL    Plum Creek Timber     Thu, Oct 17  After the Bell      0.34
PNC    PNC Finl Services Grp Thu, Oct 17  -----N/A-----       1.04
PP     Prentiss Properties   Thu, Oct 17  After the Bell      0.85
PHCC   Priority Healthcare   Thu, Oct 17  Before the Bell     0.26
DGX    Quest Diagnostics     Thu, Oct 17  After the Bell      0.82
RATL   Rational Software     Thu, Oct 17  After the Bell      0.03
TSG    Sabre Holdings Corp   Thu, Oct 17  Before the Bell     0.44
SAP    SAP AG.               Thu, Oct 17  -----N/A-----       0.11
SFA    Scientific-Atlanta    Thu, Oct 17  After the Bell      0.21
S      Sears Roebuck         Thu, Oct 17  -----N/A-----       0.82
SEIC   SEI Investments       Thu, Oct 17  Before the Bell     0.31
SJR    Shaw Communications   Thu, Oct 17  After the Bell       N/A
SEBL   Siebel Systems        Thu, Oct 17  After the Bell      0.05
SKYF   Sky Financial Group   Thu, Oct 17  Before the Bell     0.41
SII    Smith International   Thu, Oct 17  After the Bell      0.21
LUV    Southwest Airlines    Thu, Oct 17  -----N/A-----       0.05
FON    Sprint (FON Group)    Thu, Oct 17  After the Bell      0.37
PCS    Sprint (PCS Group)    Thu, Oct 17  After the Bell     -0.19
STU    Student Loan          Thu, Oct 17  After the Bell       N/A
SUNW   Sun Microsystems      Thu, Oct 17  After the Bell     -0.04
SUP    Superior Industries   Thu, Oct 17  -----N/A-----       0.60
SY     Sybase                Thu, Oct 17  After the Bell      0.26
SBL    Symbol Technologies   Thu, Oct 17  After the Bell      0.06
TE     TECO Energy           Thu, Oct 17  -----N/A-----       0.72
TXT    Textron               Thu, Oct 17  Before the Bell     0.68
NYT    The N Y Times Company Thu, Oct 17  Before the Bell     0.38
TBL    Timberland            Thu, Oct 17  Before the Bell     1.29
TAC    TRANSALTA CORP        Thu, Oct 17  -----N/A-----        N/A
TRB    Tribune               Thu, Oct 17  Before the Bell     0.38
UPC    Union Planters        Thu, Oct 17  After the Bell      0.63
UTX    United Technologies   Thu, Oct 17  Before the Bell     1.19
UNH    UnitedHealth Group    Thu, Oct 17  Before the Bell     1.04
UHS    Universal Health Serv Thu, Oct 17  After the Bell      0.59
SLM    USA Education         Thu, Oct 17  -----N/A-----       1.19
UTSI   UTStarcom             Thu, Oct 17  After the Bell      0.28
VFC    VF                    Thu, Oct 17  Before the Bell     1.09
WTNY   Whitney Holding       Thu, Oct 17  -----N/A-----       0.58
WL     Wilmington Trust      Thu, Oct 17  -----N/A-----       0.52
WIT    Wipro Limited         Thu, Oct 17  After the Bell      0.20
XLNX   Xilinx                Thu, Oct 17  After the Bell      0.10
ZION   Zions Bancorp         Thu, Oct 17  After the Bell      0.93


------------------------- FRIDAY -------------------------------

BBT    BB&T                  Fri, Oct 11  Before the Bell     0.70
ALE    Allete                Fri, Oct 18  Before the Bell     0.50
AEE    Ameren                Fri, Oct 18  Before the Bell     1.64
AVP    Avon Products         Fri, Oct 18  Before the Bell     0.47
BGEN   Biogen                Fri, Oct 18  Before the Bell     0.35
POS    Catalina Marketing    Fri, Oct 18  -----N/A-----       0.22
CBCF   Citizens Banking      Fri, Oct 18  -----N/A-----       0.47
EQT    Equitable Resources   Fri, Oct 18  Before the Bell     0.43
ERICY  Ericsson LM Telephone Fri, Oct 18  -----N/A-----      -0.02
HDB    Hdfc Bank Limited     Fri, Oct 18  Before the Bell      N/A
LAB    LaBranche & Co Inc.   Fri, Oct 18  Before the Bell     0.24
LEA    Lear                  Fri, Oct 18  Before the Bell     0.88
MEG    Media General         Fri, Oct 18  Before the Bell     0.37
MRK    Merck                 Fri, Oct 18  Before the Bell     0.82
PGN    Progress Energy       Fri, Oct 18  Before the Bell     1.64
TLAB   Tellabs               Fri, Oct 18  Before the Bell    -0.06
X      Un St Steel Corp.     Fri, Oct 18  -----N/A-----       0.64
UST    UST Inc               Fri, Oct 18  Before the Bell     0.77
VC     Visteon               Fri, Oct 18  Before the Bell    -0.26
WPO    Washington Post       Fri, Oct 18  -----N/A-----       4.94
ZBRA   Zebra Technologies    Fri, Oct 18  Before the Bell     0.58


----------------------------------------------
Upcoming Stock Splits In The Next Two Weeks...
----------------------------------------------

Symbol  Company Name              Ratio    Payable     Executable

RMCI    Right Management          3:2      10/14       10/15
RLI     RLI Corp.                 2:1      10/15       10/16
SPW     SPW Corp.                 2:1      10/24       10/25
CPBI    CPB Inc.                  2:1      10/25       10/28


--------------------------
Economic Reports This Week
--------------------------

Third quarter earnings are now in full swing.  Headliners will
probably be Intel on Tuesday and Microsoft on Thursday.  The
week's economic reports are weighted to come out on Thursday
and Friday with Friday reporting the CPI numbers.

==============================================================
                       -For-

Monday, 10/14/02
----------------
None


Tuesday, 10/15/02
-----------------
None


Wednesday, 10/16/02
-------------------
Business Invntories(BB) Aug  Forecast:   0.2%  Previous:     0.4%


Thursday, 10/17/02
------------------
Initial Claims (BB)   10/12  Forecast:    N/A  Previous:     384K
Housing Starts (BB)     Sep  Forecast: 1.636M  Previous:   1.609M
Building Permits (BB)   Sep  Forecast: 1.670M  Previous:   1.666M
Industrial Prduction(DM)Sep  Forecast:   0.1%  Previous:    -0.3%
Capacity Utilization(DM)Sep  Forecast:  76.0%  Previous:    76.0%
Philadelphia Fed (DM)   Oct  Forecast:    2.0  Previous:      2.3


Friday, 10/18/02
----------------
Trade Balance (BB)      Aug  Forecast:-$35.2B  Previous:  -$34.6B
CPI (BB)                Sep  Forecast:   0.2%  Previous:     0.3%
Core CPI (BB)           Sep  Forecast:   0.2%  Previous:     0.3%


Definitions:
DM=  During the Market
BB=  Before the Bell
AB=  After the Bell
NA=  Not Available



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

C       Citigroup                  30.40     +1.83
BK      Bank of New York Co        23.76     +0.71
AEG     Aegon Nv                   11.87     +1.09
ODP     Office Depot Inc           12.46     +0.84
KOF     Coca-Cola Femsa Sa De      19.91     +0.54

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

TXN     Texas Instruments          16.11     +1.91
ABN     ABN AMRO Holdings          12.95     +1.13
SLC     Sun Life Financial         17.01     +1.02
YHOO    Yahoo! Inc                 13.36     +1.09
RCL     Royal Caribbean Cruises    18.40     +1.56
SPOT    Panamsat Corp              19.32     +2.13

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

OHP     Oxford Health Plans        41.21     +2.82
IBM     Intl Business Machines     63.92     +6.34
CHKP    Check Point Software       14.92     +0.93
RNR     Renaissance Re Holdings    42.50     +1.60
VZ      Verizon Communications     35.19     +2.24
QCOM    QUALCOMM Inc               31.37     +1.45
SSP     E.W. Scripps Company       75.30     +3.62

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

HNP     Huaneng Power Intl Inc     25.50     -1.01
BPOP    Popular Inc                28.72     -1.82
IVC     Invacare Corp              30.96     -1.34
WGOV    Woodward Governor Co       41.97     -1.83

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

CCE     Coca-Cola Enterprises      22.41     -0.51




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