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Daily Newsletter, Wednesday, 10/30/2002

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PremierInvestor.net Newsletter              Wednesday 10-30-2002
                                                  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:      Looking Ahead
Watch List:       AGY, BAX, COL, CTAS, KLAC, RYL, and more...
Play of the Day:  Hazardous to Bulls' Health


******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
10-30-2002                High    Low     Volume Advance/Decl
DJIA     8427.41 + 58.47 8459.31  8307.42  1702 mln   1155/538
NASDAQ   1326.73 + 26.19 1334.63  1300.55  1089 mln   1377/251
S&P 100   452.60 +  3.74  455.20  446.69   totals     2532/789
S&P 500   890.71 +  8.56  895.28  879.19
RUS 2000  374.17 +  5.54  374.17  368.14
DJ TRANS 2277.25 + 29.02 2298.89  2246.63
VIX        36.08 -  0.72   37.67  35.76
VIXN       51.29 -  1.18   54.58  50.38
Put/Call Ratio .85
******************************************************************


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

Looking Ahead

by Steven Price

There are slow days and there are excruciatingly slow days.  This
one was the latter.  We got little momentum to trade, but we did
get a look at previous support and resistance levels and some
surprising action in a couple of sector indices. By the end of
the day, most averages were positive, but there wasn't a lot of
commitment in the numbers.

It appears as though we are in a holding pattern ahead of
Thursday and Friday's economic data, and next Wednesday's FOMC
interest rate decision.  As that economic data flows in,
speculation will fly as to just how much the Fed will lower
rates.  The debate about whether or not rates will be lowered,
has turned into a debate over whether it will be a 25 or 50 basis
point move.   Goldman Sachs indicated it is looking for a 50
basis point cut next week, while the consensus is for 25 points.
This may simply be the firm backtracking to its August prediction
of a 75 basis point cut by the end of the year. With only two
meetings left before the end of 2002, it doesn't leave much time
for that prediction to pan out.  The FOMC meets November 6 and
December 10.   The Fed Funds futures are currently predicting a
25 basis point cut, as can be seen below.

Chart of the Fed Funds Futures


Another indicator of how far we've come and whether we will run
out of steam here is the bullish percentage.  Bullish percent
measures the number of stocks in a particular index currently
giving point and figure buy signals.  While the bullish percents
of the Nasdaq Composite and S&P 500 are currently in the middle
of their ranges, the Dow and NDX have reached significant
resistance points.   The Dow has rebounded from a low of 4% to a
current reading of 56%, just below its bearish resistance line.
The last rebound stopped dead at this level, as evidenced by the
previous column of "X". The fact that the Dow's recent rally
became range bound, between 8200 and 8550, as the index hit its
bearish resistance line, may not be entirely coincidental, as
many institutions pay close attention to the bullish percentages.

Chart of the Dow Bullish Percentage


The Nasdaq 100, which includes some of the largest tech stocks in
the market, has also run into bearish resistance on the bullish
percentage chart.  It rebounded from a low of 14%, to a current
reading of 54% and is right below its bearish resistance line at
58%.   Similarly to the Dow, it failed this level on the last
attempt, shown in the previous column of "X".


Chart of the NDX Bullish Percentage


With consumer spending making up two thirds of GDP, we are
heading into a crucial time of the year, as the holiday shopping
season is around the corner.   The market has been able to shake
off bad news from the techs recently, and continue to hold up
over Dow 8000 and Nasdaq 1300.  However, if consumer spending
drops off heading into the busiest time of the year for
retailers, it will be hard to sustain the current rally.
Yesterday's Consumer Confidence data, which missed expectations
by about a thousand miles, sent the retail group lower, but
wasn't enough to keep them down.  Concrete evidence of that lack
of confidence may now be appearing.  This morning saw a downgrade
of Wal-Mart (WMT) by Goldman Sachs, which took the stock off its
recommended list and labeled it a "market performer."  Goldman's
analyst was concerned about same store sales comparisons heading
into the holiday season and the fact that WMT has lowered its
monthly growth expectations to 2-4%, from the usual 4-6%
(something we've been pounding the table on recently in this
space).  WMT is the biggest of the big retialers and even Goldman
says, "(T)he company is best positioned for current lackluster
spending environment."  However, it also commented on a "an
increasing challenge coming up against these strong results in,
if we are correct, a decelerating consumer-spending environment
next year."  If we continue to see a drop in consumer spending in
2003, then any recovery may be stretched back to 2004 at the
earliest.  What may also be significant is that the retail
sector, as measured by the Retail Index (RLX.X), finally broke
down through its 50-dma, after rebounding from that level on
recent pullbacks.  The RLX also has rounded off to its second
lower low, including the second peak of a double top formation.
Traders looking for shorts in the sector should now watch for
intraday resistance under the 50-dma, as well as continued
weakness from WMT.

Chart of the Retail Index (RLX.X)



The networking sector rallied on news from France's Alcatel,
which said the company's cost-cutting plan is ahead of schedule.
The company also said it has increased its cash position,
soothing bankruptcy concerns.  Alcatel still said sales dropped
17.2% and the bottom line was affected by higher than expected
write-offs. The sales decline was worse than expected, but the
company's comments about returning to profitability in 2003
helped boost the Networking Index more than 8% and Lucent almost
20% to $1.20.

The semiconductors got mixed news, as Maxim Integrated Products
(MXIM) reported earnings after the bell on Tuesday that met
expectations, but warned about poor visibility for its end users
and a lack of long-term orders, as a result.  Today, however,
Microchip Technology (MCHP) said at the Prudential Technology
Conference that it was raising its fiscal 2004 earnings guidance
and revenue forecasts.  That was the first time in a while that
we have heard anything but the opposite from the sector and it
seemed to underscore comments from IBM's CEO that the economy may
have bottomed.  The news was enough to get the Nasdaq rolling, as
the COMP tacked on 26.19, to close at 1326.73.  The Semiconductor
Index (SOX.X) also rallied, and managed its first close over 300
since September 11. The Sox has pulled back and tested its 50-dma
several times since breaking through on October 21, and continues
to set higher highs and higher lows.  It is difficult to believe
in a sector that has had mostly bad news, with no prediction of a
turnaround, until this morning.  It is also a group that has
posted a 41% gain since October 9, without any real positive
fundamental news.  Bulls can point out, however, that the run has
come during the meat of earnings season and that the prior sell-
off was based on earnings expectations that were far worse than
what we got.  I would certainly feel more comfortable if less
than 90% of the companies reporting earnings in the sector had
not made negative comments about business conditions in the near
future.   I have been looking for a ceiling on the sector for
short plays, but have yet to see it, now that the SOX is back
above 300.

Chart of the SOX


One report that did not receive much press in today's news was
the Market Composite Index of Mortgage Loan Applications.  The
index can be seen as a leading indicator for housing, as
applications are usually filed several weeks before purchases.
The index showed a 19.3% decline in mortgage loan applications
for purchases and refinancings for the week ending October 25.
While housing has remained strong, this will be a sector to keep
an eye on, as much of the economy has hinged on the housing
market. Housing stocks have begun to sink, as mortgage rates have
crept higher, and this data seems to confirm the effects are
real. The Dow Jones Home Construction Index (DJUSHB) has rolled
over and is once again testing support at the 300-level. Builders
may be whistling a different tune soon, as seasonal changes and
creeping rates combine to put a crimp in record home purchasing
rates.  Shorts in the sector are looking more attractive, but
I'll wait for the DJUSHB to break below 300 to avoid a bounce.

Chart of the DJUSHB



The Dow and S&P continue to move sideways, as we await the flood
of data this week.  Tomorrow we will get initial jobless claims
for last week.  The consensus estimate is 400K, and this will be
one of the main indicators the Fed will look at when assessing
the health of the economy.  A decrease in claims from the
previous week's 389K may reduce the need to jump start the
economy with the first rate cut in almost a year.  However, it is
more likely that any number over 400K will simply jump start
speculation that the cut may be 50 basis points. The other big
numbers tomorrow are 3rd quarter GDP, which is expected to
reflect an annualized growth rate of 3.6%, and the Chicago PMI,
expected to be 49.0.  Anything below 50 reflects a contraction
and would underscore the need for a rate drop.

Friday's data includes nonfarm payrolls, unemployment rate,
personal and construction spending, the ISM index (like the
Chicago PMI expected to indicate contraction), construction
spending and auto and truck sales.

It will be interesting to watch the market action the next two
days, in response to the economic data, as it may be
counterintuitive to what we might expect.  Poor economic data may
send us higher, as it will raise expectations of a 50 basis point
cut, while good economic data may send us lower. The SPX has yet
to close over 900, and that should be the first sign for bulls
that want to jump on the bandwagon.  However, next Wednesday's
FOMC announcement should shake out investors who are less than
committed and next Thursday may be the first day of a longer term
trend.


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

Argosy Gaming - AGY - close: 20.33 change: +1.23

WHAT TO WATCH: Argosy announced earnings on Tuesday that beat
Wall Street expectations by one cent.  Broader market weakness
kept the stock from rising on this news, but today's action was
much more favorable for the bulls.  Shares gained 6.4% and sliced
through resistance at $20.00.  Now that AGY has cleared this
obstacle, shares might quickly ascend to the 50-dma at $23.35.
The uptrending oscillators suggest that shares will see more
buying in the near-term.  A trade at $21.00 would create a
double-top breakout on the p-n-f chart.




---

Baxter Intl. - BAX - close: 25.12 change: -1.63

WHAT TO WATCH: Shares of BAX slipped to new multi-year lows today
after the stock was hit with a downgrade from Morgan Stanley.
The brokerage cut Baxter's rating from "equal-weight" to
"underweight," based on long-term earnings concerns.  With no
underlying support, it looks like today's breakdown could send
the stock plummeting towards the next level of psychological
support at $20.00.  Short positions can be targeted on a move
below today's low ($24.07).  A move under $24.00 will create a
triple-bottom sell signal on the p-n-f chart.



---

Rockwell Collins - COL - close: 23.26 change: +1.34

WHAT TO WATCH: COL staged a breakout on Wednesday after
repeatedly butting its head against resistance at $23.00.
Investors applauded the aerospace company's earnings report,
which included an EPS that was two cents above consensus
expectations.  Rockwell also said rising sales and improving
profit margins on its commercial products would lead to
additional profit growth in 2003.  COL gained 6.1% today and
climbed above the 200-dma ($23.40) before pulling back slightly
during the final hour of trading.  Overall it looks like the
breakout above resistance could lead to a test of the August
highs near $26.00, but we'd want to see the stock trade above
today's high ($23.60) before considering any long positions.




---

Cintas Corp - CTAS - close: 47.61 change: -0.34

WHAT TO WATCH: Shares of this corporate and industrial uniform
maker zipped higher in mid-October but weren't able to overcome
resistance at $50.00.  The stock has started to roll over from
this level, with the 200-dma ($47.44) acting as support in recent
days.  The bearish oscillators and recent p-n-f reversal are
indications that CTAS will continue lower in the short-term.  A
move below yesterday's low ($46.90) would present a potential
entry point, with an initial profit-target near the 50-dma
($44.17).




---

Expedia Inc. - EXPE - close: 68.90 change: +2.06

WHAT TO WATCH: Whoa...Can you say "overbought?"  EXPE has gained
about 80% over the past three weeks!  The company reported strong
earnings on October 23rd, but the stock simply looks overdue for
some backing and filling to consolidate its gains.  With shares
approaching resistance at $70.00, bearish traders can watch for a
rollover from current levels to provide an entry point.  Glancing
at the daily chart, it looks like shares could pull back to the
200-dma near $60.00.  Today's relative strength suggests that
EXPE may test the $70.00 mark before pulling back.




---

KLA-Tencor - KLAC - close: 36.28 change: +1.73

WHAT TO WATCH: The SOX.X finally closed above 300 on Wednesday.
The index is in the midst of a three-week uptrend, and the next
upside target for bulls will be the 350 region.  KLAC looks
poised to trade higher if the chip sector continues its winning
ways.  Shares have broken above bar-chart resistance at $35.00
and point-and-figure resistance at $34.00.  Today's rally came to
a dead halt just above the 100-dma.  Watch for a break above the
intraday high ($36.71) to clear the way for move to $40.00.




---

Retail HOLDRS - RTH - close: 75.96 change: -1.94

WHAT TO WATCH: The retail group showed remarkable resilience in
the face of yesterday's awful consumer sentiment data.  Although
the lack of a sell-off was good news for the bulls, today's
action was less encouraging.  WMT led a widespread retail decline
after the stock was targeted by a downgrade from Goldman Sachs.
The reduced rating was merely a valuation call, but the overall
sector saw heavy selling anyway.  This pushed both the RLX.X
retail index and RTH below their 50-day moving averages.  The RTH
bounced near support at $75.00, but the rolling oscillators are
hinting at further downside.  A breakdown below support could
send shares tumbling towards the $70.00 area.




---

Ryland Group - RYL - close: 40.14 change: -0.71

WHAT TO WATCH: There's been plenty of debate on Wall Street
surrounding the homebuilding sector.  Those who argue that the
group has formed a bubble were given more ammunition today when
the Mortgage Bankers Association reported that its weekly gauge
of new mortgage loan applications dropped by nearly 20%.  This
hefty decline provides evidence of the first cracks in the strong
housing market.  This could translate to a decline for
homebuilding stocks.  RYL looks like a particularly good way to
short the sector, because shares don't have much support directly
below the $40.00 area.  The latest rally lost momentum at the
100-dma ($42.70), despite last week's strong earnings report.
Bearish traders can evaluate entries on a move below $39.71.




---

Weyerhaeuser - WY - close: 45.33 change: -0.84

WHAT TO WATCH: Take a gander at the daily chart for WY, and
you'll see that shares are beginning to roll over from the multi-
month descending trend of lower highs.  This trend is reinforced
by the 50-dma at $47.80.  The stock has plenty of room to fall,
having recently bounced from the 52-week lows near $38.00.  The
three-box p-n-f reversal, rolling MACD, and falling daily
stochastics (5,3,3) offer technical encouragement for the bears.
Short entries with a good risk/reward ratio could be targeted on
a move below $44.90, with a stop just above the relative high at
$48.35.





=========================
Play-of-the-Day (BEARISH active trader/non-tech play)
=========================

Phillip Morris - MO - close: 41.34 change: -0.71 stop: 44.11

Company Description:
The Philip Morris family of companies, including Kraft Foods Inc.
(Kraft), is the world's largest producer and marketer of consumer
packaged goods. Philip Morris Companies Inc. recorded 2001
underlying net revenues of approximately $81 billion and owns
83.9% of the outstanding common shares of Kraft and is the
largest shareholder, with an approximately 36% economic interest,
in SABMiller plc. The Philip Morris family of companies also
includes Philip Morris Incorporated (PM USA), Philip Morris
International Inc. and Philip Morris Capital Corporation.
(source: company press release)



- ORIGINAL WRITE UP: October 28th, 2002 -

Why We Like It:
With MO leading the way, tobacco stocks rallied sharply in recent
weeks. Shares of the Dow component moved higher after the
company's October 17th earnings report, which included a solid
increase in profits and sales. Net income rose by 87% on a year-
over-year basis. But Big MO might not be out of the woods just
yet. Continued economic worries have led some analysts to believe
that the company will have to increase its promotional spending,
and the recent $28 billion payout to a women with lung cancer in
California certainly isn't a positive sign. Although this amount
will most likely be drastically reduced in the appeals process,
the prospect of more lawsuits could spook potential investors.
(On a related note, a new study indicates that nicotine might
actually have beneficial effects on the circulatory system. Far
be it for us to second-guess medical experts, but isn't that like
saying alcohol has beneficial effects on the liver? Color us
skeptical. Somehow we doubt this news will have health-conscious
consumers rushing out to buy cigarettes or nicotine patches.)

All sarcasm aside, what really gets our blood pumping about MO
is the way shares have begun to rollover from descending resistance
on the daily chart. The recent rally petered out just below the
50-dma ($43.86), and it looks like today's 2.2% decline could be
the start of more pronounced sell-off. This outlook is supported
by the declining daily stochastics (5,3,3). Further selling
action could also cause the MACD to rollover from just under the
baseline. Overall it looks like MO could eventually move back to
the $36.00 region. There's some possible resistance at $40.00,
but we suspect this level will give way if the Dow Jones begins
to fall out of its current sideways trading range. We're placing
an entry trigger one cent under today's low, at $41.49. If
activated, this play's stop will be placed at $44.11, two cents
above the relative high. This is also above the 50-dma. Those who
are more risk-averse could use a stop just above $43.00.

- Most recent update: October 29th, 2002 -

The Dow Industrials moved lower this morning after the bulls were
spooked by the latest consumer sentiment data.  MO was met with
heavy selling shortly after the opening bell and quickly reached
our entry trigger at $41.49.  The stock bottomed out at $41.12
before rebounding with the Dow during the final 90 minutes of
trading.  Although shares finished with a gain, the technical
picture remains bearish.  Today's trading produced a lower low
and a lower high, and MO has unable to trade above the longer-
term downtrend.  This leads us to believe that more weakness is
on the horizon.  New entries can be targeted on a move below
$41.00, but be aware that shares may find support at $40.00.  Our
stop is located at $44.11, safely above the 50-dma.

- Play-of-the-Day Comments: October 30th, 2002 -

MO showed some promising relative weakness on Wednesday, as
shares faded the Dow Jones and gave back 1.6%.  The stock pegged
a new relative low and continued to distance itself from both the
50-dma ($43.45) and the descending trendline near $42.00.  We'd
anticipate heavier selling if the Dow begins to head lower ahead
of next week's election and FOMC meeting.  Short entries can be
targeted on a move below $41.00, although aggressive traders
could consider shorting another failed rally at $42.00.  The
daily chart shows possible support at $40.00, but we're not
expecting more than a small bounce from this level.

Picked on October 29th at $41.49
Results since picked:      +0.15
Earnings Date           10/17/02 (confirmed)







=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************


Copyright ) 2002  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter               Wednesday 10-30-2002
                                                   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:

Stock Bottom / Active Trader
  Triggered Plays:       HIG (bearish)
  Closed Bearish Plays:  MLM

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)


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

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

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

Hartford Fincl. - HIG - cls: 40.17 chg: -4.23 stop: 42.26 *new*

The recent flood of negative news for HIG worsened on Wednesday
morning when the stock was downgraded by no less than three
brokerages.  UBS Warburg and Prudential cut HIG to a "hold,"
while Lehman reduced its rating from "overweight" to "equal-
weight."  Obviously Wall Street is not pleased with the company's
asbestos-related problems and recent downward earnings guidance.
HIG gapped lower on the downgrades and opened well below our
trigger.  This play was activated at the opening trade of $42.00.
Because of our lower-than-expected entry, we've lowered our stop
to $42.26.  We've also set an official exit price just above the
October lows, at $37.51.  We'll close this play if shares trade
at or below that level.  We would not advise taking new positions
at this time.





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

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

Martin Marietta - MLM - cls: 27.58 chg: -0.13 stop: 28.51

MLM traded in a mostly directionless fashion on Wednesday, prior
to tomorrow morning's earnings announcement.  The stock stayed
under resistance at $28.00 for the entire session and finished
with a small loss.  As per our exit strategy discussed in last
night's update, this play was dropped at today's closing price
($27.58).  This represents a gain of 41 cents from our entry
point.  Overall we think MLM has more downside potential, and
we'll be watching to see how the stock behaves after the earnings
report.  We'd consider another short play if shares resume their
downtrend after the dust settles.

Picked on October 28th at $27.99
Results since picked:      +0.41
Earnings Date           10/31/02 (confirmed)





=================
  Trading Ideas
=================

This section contains stocks that meet criteria which may make
them of interest to long and short side traders.  These are not
recommendations, nor have they been reviewed by PremierInvestor
editors for investment potential.  However, each of them has
technical and fundamental characteristics that make them worthy
of further review by traders and investors looking for fresh ideas.
New stocks will appear daily following the market close.


Value Plays With Bullish Signals
---------------------------------
Ticker  Company Name               Close     Change

ESS     Essex Property             47.95     +0.65
BGG     Briggs & Stratton          38.92     +0.65
UCO     Universal Compression      18.75     +1.10
FTO     Frontier Oil               14.50     +1.40
OLOG    Offshore Logistics         21.10     +0.92
TTEK    Tetra Tech                  8.70     +0.51
SWC     Stillwater Mining           7.98     +1.08

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

CREE    Cree Incorporated          18.27     +1.76
NDC     NDC Health                 17.33     +1.54
IDCC    Interdigital Comm.         13.17     +1.58
ALA     Alcatel                     5.11     +1.26
NET     Network Associates         16.11     +1.46
BORL    Borland Software           12.50     +1.16
UTEK    Ultratech Stepper           9.09     +1.31
RTEC    Rudolph Technologies       17.31     +1.71

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

ACL     Alcon Inc                  40.20     +1.20
MXIM    Maxim Integrated           32.72     +3.29
CLE     Claires Stores             25.80     +1.15
AGY     Agrosy Gaming              20.33     +1.23
AME     Ametek Inc                 35.61     +1.94
INTL    Inter-Tel Inc              26.50     +2.75
COCO    Corinthian Colleges        39.72     +5.52

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

WMT     Wal-Mart Stores            53.80     -2.67
CECO    Career Education Corp      42.69     -1.43
BN      Banta Corp                 31.37     -1.48
XL      XL Capital                 74.00     -3.65
ACE     Ace Ltd.                   32.34     -1.06
BAX     Baxter Intl.               25.12     -1.63

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

BOW     Bowater Inc               32.60     -3.70
FDS     Factset Research Sys.     27.65     -0.65
CFR     Cullen Frost Bankers      34.25     -0.30
VLI     Valero Lp.                35.80     -1.13
STGS    Stage Stores              20.90     -0.61




=================================================================
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
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DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

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Option Investor Inc
PO Box 630350
Littleton, CO 80163

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