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Daily Newsletter, Friday, 11/08/2002

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PremierInvestor.net Newsletter          Weekend Edition 11-08-2002
                                                    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
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=================================================================

In section one:

Market Wrap:      Cracks in the Foundation
Play-of-the-Day:  Building On Weakness
Watch List:       AVT, GE, INTC, LNT, VRSN, QQQ, and much more...
Market Sentiment: Put Away Those Horns

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MARKET WRAP  (view in courier font for table alignment)
******************************************************************
       WE 11-08        WE 11-01        WE 10-25        WE 10-18
DOW     8537.13 + 19.49 8517.64 + 73.65 8443.99 +121.59 +472.11
Nasdaq  1359.29 -  1.41 1360.70 + 29.57 1331.13 + 43.27 + 77.39
S&P-100  457.39 -  0.77  458.16 +  2.51  455.65 +  6.63 + 26.34
S&P-500  894.74 -  6.22  900.96 +  3.31  897.65 + 13.26 + 49.07
W5000   8438.80 - 63.40 8502.20 + 51.56 8450.64 +126.86 +450.75
RUT      378.99 -  4.46  383.45 + 10.81  372.64 +  9.27 + 18.44
TRAN    2346.88 + 31.20 2315.68 +  2.37 2313.31 + 34.22 +124.42
VIX       33.56 -  0.42   33.98 -  2.29   36.27 -  3.55 -  3.62
VXN       52.01 +  2.15   49.86 -  0.53   50.39 -  4.94 -  3.54
TRIN       1.80            0.95            0.89            0.80
Put/Call   1.05            0.71            0.77            0.68
******************************************************************

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

Cracks in the Foundation
by Jim Brown

Thanks to a closing spike the Dow managed to close the day in
negative territory but finish the week in the green. This makes
the fifth positive week in a row for the Dow. The other indexes
were not so lucky and all broke four week winning streaks and
appear to be leading indicators that the recent rally may be
developing cracks in the foundation.

Dow Chart - 90 min


Nasdaq Chart - 120 min



Friday began strong despite another round of warnings but the
gains proved impossible to hold. Leading the list was McDonalds
who warned for the seventh time in eight quarters that earnings
were going to miss estimates. They are going to close 175 stores
and layoff 600 full time employees. Blaming slowing sales, cheaper
prices and competition they said October revenue would be below
estimates. Dow Jones reported that customer traffic was actually
up in October but the average check was lower due to the new $1
menu options. The fast food war is heating up and Wendy's just
announced less than expected results on Thursday. The Burger
King buyout is also suffering from the war.

Safeway warned that sales for the quarter and full year would
be less than expected because previous growth estimates were
too high. This is a continuing trend in the food sector and
other retailers got hit for losses as well. WIN, KR, GAP,
ABS, SVU and even distributor FLM traded lower. Because some
of the week chain store sales comes from increased competition
from Wal-Mart that stock closed up slightly. WMT has not been
saying bullish things lately and it appears that gaining share
is the only thing keeping them out of trouble.

The heat in the kitchen is rising in many companies and the
chefs in charge of cooking the books are bailing out in droves.
Beleaguered Tenet Healthcare has been under the gun all week
for accounting questions and THC announced that the COO and CFO
had resigned. Not a good sign and the stock, which had been
trading at $50 two weeks ago closed at $14.84 on Friday. Other
healthcare companies were also hit by friendly fire and guilt
by association. Video game maker THQI, which has been under
fire for lowering revenue estimates announced their COO had
left the company and they were going to dissolve the position.
THQI dropped nearly -10% on the news.

After the bell on Friday Duke Energy announced that it had
received a subpoena as part of a grand jury investigation
into energy trading in California. Expect more on this topic
as investigations progress. Xcel Energy denied an article in
the Wall Street Journal that it had filed for Chapter 11
bankruptcy. Seems like that would be really easy to check
before putting it in print. Xcel claimed they had not filed
and had no intentions to file. They claimed they were working
with creditors to plan a restructuring proposal and it would
take weeks before any decision was known.

Other than the stock news above the markets were quiet on
Friday and the major news was the unanimous vote on the Iraq
resolution by the UN Security Council. This should be more
correctly labeled the "Gotcha" resolution since it puts
Saddam in a box from which there is no escape. Iraq has
seven days to "accept" the resolution. Once accepted they
have 30 days to declare all their weapons of mass destruction
and set them up for future destruction. Once they are declared
the inspectors will inspect them and destroy them. The key
here is the default provision. If Iraq accepts the resolution
and fails to declare ALL their weapons and the inspectors find
out they lied then all bets are off. The next communication
Saddam will receive will be in the form of a cruise missile
in his office window. Not really but you get the idea.

For somebody that has spent billions rebuilding his weapons
supply and hiding them from outside sources he is not going
to simply say "sure, here is the keys to 33 of my palaces
and these are the weapons you will find there." We will
probably get the bluff, reluctant acceptance and then
incomplete disclosure of the stuff he deems replaceable. He
will hope to run the same shell game he did before where
trucks were driving out the back gate while inspectors
were being questioned at the front gate. The inspectors are
going to play by different rules this time. The resolution
gives them no knock, any one, any time, any place authority
to search and this is something Saddam has violently rejected
for obvious reasons. It appears that by Dec-23rd the inspectors
will walk up to several "undeclared" weapons sites using
information from undercover operatives, defectors and
the Iraq opposition and "discover" undeclared weapons. The
U.S. will say I told you so and with prior approval from the
U.N. will proceed to war. The inspectors must report back to
the U.N. by mid February on what they found but nothing
prevents them from declaring violations at any time.

This eventuality has been priced into the market for quite
some time and the movement in oil prices today confirmed it.
Oil rose a meager +44 cents after the announcement. The U.S.
has been moving troops and equipment for months and the fact
that we may go to war is now taken for granted. Most analysts
think it will be short and harsh and will be over by April 1st.
The resolution was credited with causing the Friday sell off
but I personally doubt it was related. If anything it put off
any attack until February or later and improved the chances of
a possible coalition to accomplish the task. If anything it
was another win by the Bush administration in a week already
full of successes.

More troubling to the markets was extended analysis of the 50
point rate cut. The wording of the announcement along with the
minutes of the September meeting make it clear that the Fed
did not come to this decision over time. Analysts feel it was
something specific that suddenly turned a split decision over
a 25 point cut at the last meeting into an unanimous decision
for a 50 point cut this week. The overriding question is what?
Yes, economic reports have been turning down but the majority
are still pointing to growth. Jobs are not that weak and
productivity is high. Is there a banking problem? Is there
another Long Term Capital about to implode somewhere? Is Brazil
going to renounce the IMF and go it alone without strong
economic changes? Analysts fear that the Fed knows something
they are not telling.

The Fed commissioned an analysis of Japan's death spiral
recently and it is possible they learned enough from that
analysis that it scared them into action. One of the lessons
from Japan was that a long succession of minor rate cuts only
when absolutely necessary left them with a flat economy and
no cuts left. The lesson many are suggesting is that when
faced with a sluggish economy and dwindling ammo you make
the maximum use of that ammo in the shortest period of time.
The 50 point cut was totally out of character for the current
Fed and Greenspan. Something changed and if the maximum use
theory is to be believed then the Fed thinks there is something
to worry about. Whether it is just the failure of the economy
to bounce or something else in our future we don't know. The
uncertainty is weighing on the markets. What was the Fed
afraid of and should we be worried.

Friday could have been worse. There was a concentrated effort
to keep the Dow over 8517 so that the winning streak could be
kept alive. Big money wanted investors to read "five week
winning streak" in the paper this weekend instead of "markets
fall on Fed concerns." Actually the closing levels on all the
major indexes should be a warning message to investors. The
current pivot points for the major indexes were Dow 8600,
Nasdaq 1380, S&P 905 and OEX 465 as of Friday morning. Moving
below these numbers signifies a break in the short term trend
and the possibility of weakness ahead. All the indexes closed
well below those levels on Friday.

The selling on Friday was far from convincing and could have
been just post Fed profit taking. The lackluster market action
drew numerous commentators and analysts in front of the TV
cameras to expound on why we are going to Dow 5000 or 10000.
We are a country with 44 million investors and days like
Friday bring out nearly that many analysts and all with
differing opinions. Trying to apply too much importance to
Friday's action will have you chasing ghosts and dreaming in
candlesticks. The only thing we can infer from Thursday and
Friday is that investor's enthusiasm cooled from the October
rally intensity and with the Fed meeting and election over
they took the day off to spend some of their gains. If you
want to really drive yourself crazy just ponder why the bears
were unable to cause a stronger drop with no real opposition.

Next week is going to be a yawner. Monday is Veteran's Day
and the bond markets will be closed. The stock market will
be open but volume should be light. The economic calendar is
blank for the Mon/Tue/Wed but will make up for it on Thursday
and Friday. Thursday we get Jobless Claims, Import/Export
prices, Retail Sales and the Philly Fed Survey. Friday we
have Business Inventories, PPI, Industrial Production,
Capacity Utilization and Michigan Sentiment. These reports
should not be earth shaking since we already know the recovery
is limping along and almost nothing they can say will make
the Fed rush to cut rates again. The only surprise in my
opinion would be for them to be positive and the markets
might celebrate that.

Earnings are likely to be the real focus with AMAT on Wednesday
after the bell. They already announced this week that they were
cutting -1750 jobs due to a continued slump in chip sales. Dell
announces on Thursday after the close but is expected to
announce inline after numerous affirmative comments. A couple
of other notables are NTAP on Tuesday and INTU at Wednesday.
Earnings are far from over with over 100 companies reporting
this week. We have seen in the past that the later in the cycle
companies report the better the chance of weaker results.

The forecast for the markets is mixed. It is an options
expiration week and there are likely to be many positions
which need to be squared away. The bullish sentiment
still exists but the reasons for buying now are much less
compelling and mostly seasonal. The end-of-year rally crowd
is expecting a rally and they will likely buy from habit to
reap the seasonal rewards regardless of the outlook. This
may give us a bullish undercurrent. Funds saw inflows of $3
billion this week, which is a dramatic change in direction
after many weeks of outflows. This could have been related
to the pre-Fed expectations. In the post Fed week ahead there
may be some inflows from investors expecting the 50 point
cut to be a magic wand for the markets. If investor confidence
has been increased by the rate cut then the urge to get in
quick should be seen this week. If we don't see buying begin
by Wednesday then the outlook could be grim. This is a show
me week and everyone sitting on cash with an itchy trigger
finger will be looking for confirmation that the year end
rally has begun. If it does not appear then the excitement
will fade and investors will go back to the couch instead of
the computer.

Enter Very Passively, Exit Very Aggressively!

Jim Brown

"The market is a voting machine, where countless individuals
register choices, which are the product partly of reason and
partly of emotion."  - Graham & Dodd


=========================
Play-of-the-Day (BEARISH)
=========================
(( new Active Trader/non-tech short))

Beazer Homes - BZH - close: 60.60 change: -1.94 stop: *text*

Company Description:
Beazer Homes USA, Inc., based in Atlanta, Georgia, is one of the
country's ten largest single-family homebuilders with operations in
Arizona, California, Colorado, Florida, Georgia, Indiana, Kentucky,
Maryland, Mississippi, Nevada, New Jersey, North Carolina, Ohio,
Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Beazer
Homes also provides mortgage origination and title services to its
homebuyers.  (source: company press release)

Why We Like It:
On paper, the confluence of two (seemingly) bullish news events
should've had BZH rocketing higher this week.  Beazer Homes
announced their third-quarter results on Tuesday.  Homebuilders
have experienced solid growth for quite some time, so it came as
no surprise that the company saw its earnings jump by 71% on a
year-over-year basis.  BZH also raised full-year estimates for
2003, from $12.00 to $12.25 per share.  Beazer said low mortgage
rates had fueled the increase in demand.  The following day, the
FOMC surprised Wall Street with a half-point reduction in the Fed
funds rate.  The resulting rush to buy the $TYX.X 30-year
Treasury note (and subsequent decline in the 30-year yield)
should serve to keep mortgage rates at low levels.  You'd think
that solid earnings, raised guidance, and a reduction in mortgage
rates would've had a combustible effect on BZH...but that wasn't
the case.  Shares have instead seen heavy selling over the past
two sessions.  As a matter of fact, the entire homebuilding
sector (as gauged by the DJUSHB index) has been moving lower.  It
seems that Wall Street doesn't have a very optimistic outlook for
growth in the home construction group.  This may reflect a
bearish economic perspective among the larger institutional
players, who more often than not tend to be on the winning side
of a trade.

Technically, there are several reasons that we like BZH as a
short play:  The stock has fallen below support at the 50-dma
($64.04) and is currently retracing its October rally.  Bullish
support on the point-and-figure chart has also been violated.
Both the daily stochastics and MACD are clearly negative, with
the latter oscillator showing a fresh bearish crossover.  If
support at $60.00 fails we think BZH could quickly move to retest
its October lows near $52.00.  We want to see an actual breakdown
before entering this play, so we're placing an action point at
$59.94.  If triggered, our stop will be set at $65.06.  More
conservative traders may want to use a stop just above the 50-
dma.  We'll probably do the same if/when this play begins to work
in our favor.

Picked on November xxth at $xx.xx <- see text
Results since picked:       +0.00
Earnings Date            11/05/02 (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
---------------------------------

Avnet Inc - AVT - close: 8.69 change: -0.54

WHAT TO WATCH: Aggressive traders may want to keep an eye on AVT.
The stock rallied sharply off the $6.00 area in recent weeks but
wasn't able to trade above the 50-dma at $10.32.  Business isn't
exactly booming at this electronics distributor - the October
24th earnings report included a first quarter loss and flat
revenues.  The loss wasn't as bad as analysts had expected, but
fundamentally there aren't a lot of reasons to be buying this
stock.  Look for a move below $8.50 to bring more bears off of
the sidelines.  We'd be looking for a near-term decline to the
$6.00-$7.00 region.




---

General Electric - GE - close: 25.10 change: -1.01

WHAT TO WATCH: GE looks like a very compelling short.  In fact,
we probably would've added it as a bearish play tonight if our
Play List didn't already include two Dow-related shorts (DIA and
MO).  Shares of the world's largest conglomerate have recently
found stubborn resistance at $27.00.  The stock sold off from its
50-dma ($26.26) today after a J.P. Morgan analyst warned that the
risk profile of GE capital (the company's finance division) might
be higher than investors realize.  Technically, bears can be
pleased with the rolling oscillators and Friday's violation of
support at $25.00.  We'd be looking for a move under today's low
($24.63) to open the door to a retest of the $22.00 area.




---

Alliant Energy - LNT - close: 15.51 change: -0.55

WHAT TO WATCH: The UTY.X utility index was hit for 2.8% loss
today after the Wall Street Journal reported that NRG Energy (a
subsidiary of Xcel Energy) would file for Chapter 11 bankruptcy.
Although XEL denied these reports, the damage was already done.
Sector negativity helped to push LNT under support at $15.80.
With shares trading at all-time lows and the p-n-f chart showing
a double-bottom sell signal, it's looking pretty bleak for the
bulls.  Aggressive short entries can be targeted on a continued
decline from the current levels.  Psychological support at $15.00
might slow the stock's descent, but a move to the $10-$12 region
would not be out of the question if the utility group is hit with
more negative news.




---

Retail HOLDRS - RTH - close: 72.50 change: -1.24

WHAT TO WATCH: It was a long wait, but the RTH finally fell
though the $73.00 support level on Friday.  Shares been weakening
for nearly two weeks and are currently in the process of
retracing the mid-October rally.  Weakness in big-cap retailers
such as HD, LOW, and S has helped to accelerate the decline.
Short positions could be targeted on a move below $72.00,
initially targeting the October lows near $65.00.  Possible
support lurks in the $70.00 area.




---

Suntrust Banks - STI - close: 57.67 change: -0.72

WHAT TO WATCH: Contrary to Wall Street expectations, this week's
half-point interest rate cut did not trigger a rally in the
financial sector.  As a matter of fact, the BIX.X banks index has
sold off sharply since the announcement.  STI was hit a downgrade
from UBS Warburg on Tuesday and has traded lower ever since.
Shares are retracing the steep mid-October rally, which began
near $52.00.  The fresh bearish MACD crossover, along with the
recent violation of support at $60.00, provides technical
ammunition for the bears.  Short entries can be targeted on a
move below $57.57 or on a failed rally back to $60.00.




---

VeriSign - VRSN - close: 8.73 change: -0.45

WHAT TO WATCH: VRSN has been trading in a wide descending
regression channel for over a year.  Shares spent a good chunk of
September trading along the channel's midline before rallying to
the upper band, near $10.00.  The stock has more than doubled in
value in just one month and now appears to be rolling over.
Aggressive entries could be targeted at current levels, with a
stop just above the relative high of $10.19.  A decline to the
$6.50 area wouldn't be out of the question if the GSO.X software
index falls through support at 100.




---

Weyerhaeuser - WY - close: 44.74 change: -1.08

WHAT TO WATCH: The FPP.X forest/paper products index is
threatening to fall below recent support at 255.  We think WY
would offer a good short play if the sector breaks down.  The
stock has rolled over from its long-term descending trendline two
times in as many weeks, and shares are now under support at
$45.00.  The bearish daily stochastics (5,3,3) and three-box
point-and-figure reversal suggest that WY will continue to move
lower.  Bearish positions could be evaluated on a move under
$44.00, initially targeting a decline to the $38.00-$40.00
region.




---

Nasdaq-100 Tracking Stock - QQQ - close: 25.07 change: -0.47

WHAT TO WATCH: The Q's don't move like they used to but patient
traders might be able to capture a pull back to the 50-dma near
$22.50.  We'd watch for a move back under the $25 mark, which
could happen on Monday.  The low on Friday was $24.96.  Check out
that MACD!

---

Intel Corp - INTC - close: 18.13 change: -0.31

Not surprisingly, shares of INTC look a lot like the Q's.  The
$SOX chip index has been in an incredibly strong up trend for the
last four weeks but now there is a good chance the chip sector
could see some profit taking.  The SOX closed under 300 this
Friday, indicating potential weakness going forward.  If you look
at a chart of INTC, throw up a Fibonacci retracement tool on it.
A 50% pull back of the October rally would have shares of INTC
trading back to the $16.10 area.  This is still above the 50-dma.
The MACD, like many stocks nowadays, looks ready to roll over.
We could see active traders using a trigger under the $18 mark as
a potential entry point but use a conservative stop.

---

Oracle Corp - ORCL - close: 9.55 change: -0.65

WHAT TO WATCH: Here's another stock that doesn't move that fast,
except maybe today.  Friday's session saw the stock dropping over
six percent.  This produced a bearish crossover in the MACD and
shares closed back under the $10 level.  Keep an eye on the 50-
dma near $9.20 and the $9.00 mark.  Should these fail it may be a
trigger to capture a move to $8.00.  Traders will also want to
keep an eye on the $GSO software index.  Should this fall under
the 100 level, it could accelerate the group's slide.

---

Applied Materials - AMAT - close: 15.68 change: -0.03

WHAT TO WATCH: Traders will be watching AMAT closely.  The
company announces earnings on Wednesday this week.  As one of the
biggest chip wafer equipment manufacturers what AMAT says in its
conference call could have a serious affect on the chip sector as
a group.

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

CBRL - This restaurant stock is drifting lower on its 50-dma.
Extrapolating the current downtrend, it looks like shares could
decline by another 10% over the next month.

EASI - Today's move above the 50-dma ($35.63) could lead to a
retest of the all-time highs near $41.00.  P-n-f chart is
signaling a double-top breakout.

QLGC - Shares have started to pull back after gaining more than
100% in less than a month.  A 38% retracement of this rally would
put QLGC at $35.00.  This provides a possible downside target for
bearish traders.

AHC - AHC has traded sideways following a painful post-earnings
selloff.  A move above $52.50 could send the stock towards the
$60.00 level.  The oscillators (especially the MACD) are looking
bullish.

NXTL - Keep an eye on this mover.  The stock has appreciated a
lot in the last few weeks.  A pull back to $10 could happen
quick.  Should the $10 level hold, it may be a potential entry
point to get long, but we'd be patient and watch it for a few
sessions.

AMGN - The king of biotech stocks has fallen (again).  This time
the stock has broken what should have been support at the $45
level.  A retest of $40 appears inevitable.

JPM - The troubled financial giant appears poised to close under
the $20 level and its 50-dma again.  This could be a shorting
opportunity.

UNH - The Tenet Healthcare news has investors fleeing the
healthcare sector in droves.  Whether there is any risk to UNH or
not is moot if the suspicions exists.  The 8.6% drop today is
ugly but shares stopped just north of its 200-dma - a level of
support it has held for many months.  Should the 200-dma fall
(and the $85 mark with it) we would not be surprised to see some
serious profit taking.  Keep in mind the stock "should" have some
support at $80 as well.


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

Put Away Those Horns

by Steven Price

Anyone confused?  Has the rally run out of steam? Did rates go
back up when we weren't looking?  Or have there simply been no
changes in the business spending environment in the last month?
Bingo.  While the recent rate cut should eventually have an
effect on spending, as the cost of financing drops even further,
it will take at least 6-9 months to work its way through the
economy.  And if low rates haven't helped to this point, how much
difference will another 50 basis points make? With Wednesday's
FOMC meeting behind us, we were left to ponder recent economic
data, most of which was not very good.  Last Thursday and Friday
we got a slew of bad news, but the markets rallied, as it was
taken as a sign that the FOMC would lower rates. The anticipatory
rally continued through the first part of the week.  However,
after the FOMC news was out, the rally ended quickly.

There were certainly other forces at work this week.  Cisco
essentially warned that the next quarter could see a revenue
decline. While no one wants to hear that from one of the biggest
techs in the market, it certainly was not a major surprise.  In
fact, we had been hearing similar things throughout earnings
season from a majority of chipmakers and software companies.
Even Microsoft had said that this quarter's earnings were an
anomaly, and not to expect a repeat.  So the Cisco news shouldn't
have been a shock to the system and yet it sent the market
rolling downhill for two days.  What is more likely is that it
simply came at a time when there was no straw to grasp in front
of us.

Today's further drop was also blamed on the prospect of war.  The
U.N. approved the U.S. resolution on Iraq, which the Iraqi
ambassador said was crafted in such a way as to prevent
inspectors from entering the country.  But did anyone really
believe Saddam Hussein would fully comply with U.S. inspection
demands?  While going to war may have a negative effect on our
economy, it has most likely already been priced into the market
to some extent. Certainly the oil markets don't seem overly
concerned about the effect.  Now that OPEC has been cheating on
its quotas the last couple of months and the president of the
organization all but gave support to the practice for at least
the next couple of quarters, even the prospect of an invasion saw
oil futures remain under $26 per barrel.  At the height of
speculation over what the U.S. would do toward the end of
September, the futures were trading over $30.  The fact that oil
supplies appear safe should help the markets, as it will keep the
cost of transportation and production lower.  So the U.N.
resolution simply shouldn't have that great of an effect.

McDonald's said this morning that it would not achieve its 2002
earnings goals and that it was closing 175 restaurants. The
closures will lead to 400-600 layoffs and reduce 4Q income by
$350-425 million.  It is also pulling out of three countries and
giving up ownership in four.  For the year, U.S. sales are down
1.5%.  More layoffs lead to fewer workers, which leads to a
smaller lunchtime crowd.

The chip stocks appear to be rolling over after an incredible run
that saw the Semiconductor Index gain more than 50% in a month.
After topping out at 329, it has fallen out of its ascending
channel and broke down through support at 300 today.  It finished
the session just under that level, closing at 299.91, after
dropping to an intraday low of 292. 44. Apparently investors lent
more credibility to the bad news from NVidia last night, than to
the good news from Qualcomm. If the index remains under 300, and
we get some intraday resistance, the sector looks like a short
again, with plenty of downside room. Keep in mind the last PnF
breakdown led to a quick upside reversal, so let's be sure we see
resistance before piling on.

I keep going back to last week's data.   GDP came in lower than
estimates.  Personal spending decreased more than expected and
personal income grew less. This week's data showed that while
initial jobless claims dropped by 20,000, the four week moving
average remained above the 400,000 level, which is generally the
barometer for whether the employment picture is improving.
Productivity showed improvement, but still came in below
expectations.

Why all the negativity?  I think the better question is why all
the bullishness over the last month.  And as long as were on the
topic of negativity, it appears that we could be in the process
of forming a second head and shoulders pattern in the Dow and
SPX.  Only this time the head at 8800 in the Dow would be lower
than the one in August at 9077.  The good news is that the Dow
held support at 8500, and the COMPX held on around 1360 (closing
at 1359), after filling its gap from Monday.  The bad news is
that the SPX did not hold support at 900.  We are definitely
looking at some crucial levels and the coming week should give us
a feel for whether the rally is simply pulling back for another
run at Dow 9000, or if it is out of steam and heading back to
8000.  A close below Dow 8500, along with the SPX under 900 would
indicate the latter. The fact that the COMPX and SOX are a point
below support seems pivotal, as well.  Look for support or
resistance at these levels.  Unfortunately (for bulls), I expect
to see resistance.

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

Market Averages

DJIA ($INDU)

52-week High: 10673
52-week Low :  7286
Current     :  8537

Moving Averages:
(Simple)

 10-dma: 8522
 50-dma: 8172
200-dma: 9264

S&P 500 ($SPX)

52-week High: 1176
52-week Low :  775
Current     :  894

Moving Averages:
(Simple)

 10-dma:  899
 50-dma:  867
200-dma:  996

Nasdaq-100 ($NDX)

52-week High: 1734
52-week Low :  795
Current     : 1008

Moving Averages:
(Simple)

 10-dma: 1013
 50-dma:  920
200-dma: 1150

-----------------------------------------------------------------
The Semiconductor Index (SOX.X):  So much for Qualcomm riding to
the rescue.  The chip stocks attempted a rebound on Friday,
trading up to 308 in the SOX, but previous resistance at 310 came
back into play and the sector instead chose to follow NVDA down
into the 200s again.  On Thursday we commented in this space that
the SOX had broken down out of its ascending channel from the
beginning of October.  Just as it looked like the rally would
reverse itself, QCOM came out with earnings news that rallied the
stock over a dollar after hours and it appeared as though the
scare was only that.  We also said that if it failed to rally the
troops and the SOX fell below 300, to watch out below. NVidia
also released its earnings, which were less than stellar, leading
to a Prudential downgrade.  Guess what?  The index finished the
day at 299. If we see evidence of resistance under 300, it looks
as though it will be time to short the sector once again, with a
target back in the low 200s.

52-week High: 657
52-week Low : 214
Current     : 299

Moving Averages:
(Simple)

 10-dma: 305
 50-dma: 269
200-dma: 422

Market Volatility

In a somewhat puzzling move, the VIX sank today, even though war
fears picked up steam and the Dow and SPX fell below recent
support levels.  Apparently the lure of a steep weekend time
decay (theta) curve ahead of expiration week was enough to bring
in the sellers.  That certainly appeared to be the case as the
index stayed high until the afternoon, when it sold off, in spite
of a market drop, with a big jolt just before the close, as
market makers dropped the at the money straddles ahead of next
week. Of course on Monday, the VIX calculation will leave the
November options out of the mix, so we may see a big move as
January comes into play.

CBOE Market Volatility Index (VIX) = 33.56 -1.72
Nasdaq-100 Volatility Index  (VXN) = 52.01 -1.89

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

          Put/Call Ratio  Call Volume   Put Volume

Total          1.05        514,316       238,482
Equity Only    0.88        403,070       355,869
OEX            1.23         27,051        33,373
QQQ            1.39         44,183        61,514

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

Bullish Percent Data

           Current   Change   Status
NYSE          41      + 0     Bull Confirmed
NASDAQ-100    67      - 2     Bull Confirmed
Dow Indust.   63      + 0     Bull Confirmed
S&P 500       55      - 2     Bull Alert
S&P 100       62      + 0     Bull 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   1.31
10-Day Arms Index  1.26
21-Day Arms Index  1.05
55-Day Arms Index  1.31


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        977          1709
NASDAQ     1356          1791

        New Highs      New Lows
NYSE         20              42
NASDAQ       44              42

        Volume (in millions)
NYSE     1,711
NASDAQ   1,588

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

Commitments Of Traders Report: 11/05/02

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 added 4,000 contracts to the short side, while
increasing longs by 1,000.  Small trader added 1,000 to the long
side, while increasing short positions by only 500 contracts.


Commercials   Long      Short      Net     % Of OI
10/15/02      429,448   449,138   (19,690)   (2.2%)
10/22/02      432,775   463,827   (31,052)   (3.5%)
10/29/02      437,565   468,557   (30,992)   (3.4%)
11/05/02      438,546   472,384   (33,838)   (3.7%)

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
10/15/02      134,507    83,714    50,793     23.3%
10/22/02      134,641    72,681    61,960     29.8%
10/29/02      137,740    75,587    62,153     29.1%
11/05/02      138,604    76,032    65,572     30.5%

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 added 2,000 long contracts while adding 1,000 to the
short side.  Small traders added 30%, or 3,000 contracts to the
long side, while increasing shorts by a similar amount.


Commercials   Long      Short      Net     % of OI
10/15/02       45,578     51,969    (6,391) ( 6.6%)
10/22/02       48,954     54,088    (5,134) ( 4.9%)
10/29/02       47,837     55,261    (7,324) ( 7.1%)
11/05/02       49,128     56,121    (6,993) ( 6.6%)

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
10/15/02       10,185    12,478     2,293    10.1%
10/22/02       10,202     8,892     1,310     6.6%
10/29/02       10,584     9,419     1,165     5.8%
11/05/02       13,355    12,903       452     1.7%

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 added to both sides, increasing longs by 700 and
shorts by 2,300.  Small traders reduced long positions slightly,
but dropped 2,300 from their short side, for a significant
reduction in the overall short position.


Commercials   Long      Short      Net     % of OI
10/15/02       20,914     9,630   11,284      36.9%
10/22/02       22,189    13,448    8,741      24.5%
10/29/02       21,800    13,337    8,463      24.1%
11/05/02       22,533    15,687    6,846      17.9%

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
10/15/02        6,040    10,329    (4,289)   (26.2%)
10/22/02        4,445     9,270    (4,825)   (35.1%)
10/29/02        5,602    11,090    (5,488)   (32.9%)
11/05/02        5,089     8,735    (3,646)   (26.4%)

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

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




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

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

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

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

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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          Weekend Edition 11-08-2002
                                                    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
  Bearish Play Updates:  IBM

Stock Bottom / Active Trader
  New Bearish Plays:     BZH
  Bearish Play Updates:  DIA, MO, SUP

High Risk/Reward
  Bullish Play Updates:  T
  Bearish Play Updates:  HGSI
  Closed Bullish Plays:  THC


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

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

  --------------------
  Bearish Play Updates
  --------------------

Intl Business Machines - IBM - cls: 77.59 chg: -1.36 stop: 82.06

Considering that we just launched this play last night in the
Thursday newsletter and significant news was scarce today, we
don't have much to add for Friday's comments.  The stock
continued to sink as expected.  The weakness in the broader
indices due to war fears could continue to plague us for weeks.
Shares of IBM are approaching what could be support at the $75
level but we don't expect it to hold.  Should the stock appear to
stall we'll probably drop our stop loss to breakeven to reduce
our risk.  Otherwise, our target remains a test of the $70.00
area (essentially the 50-dma).  This does look like a decent spot
to consider new entries.  If by chance IBM bounces then we would
look for a failed rally at the $80 mark to consider a new short.
For more information, see Thursday's initial play write up.
Editor's note... the MACD on IBM has probably got the bears
salivating.  We should see a bearish crossover very soon.

Picked on November 7th at $78.95
Results since picked:      +1.36
Earnings Date           10/16/02 (confirmed)






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

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

  -----------------
  New Bearish Plays
  -----------------

Beazer Homes - BZH - close: 60.60 change: -1.94 stop: *text*

Company Description:
Beazer Homes USA, Inc., based in Atlanta, Georgia, is one of the
country's ten largest single-family homebuilders with operations in
Arizona, California, Colorado, Florida, Georgia, Indiana, Kentucky,
Maryland, Mississippi, Nevada, New Jersey, North Carolina, Ohio,
Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Beazer
Homes also provides mortgage origination and title services to its
homebuyers.  (source: company press release)

Why We Like It:
On paper, the confluence of two (seemingly) bullish news events
should've had BZH rocketing higher this week.  Beazer Homes
announced their third-quarter results on Tuesday.  Homebuilders
have experienced solid growth for quite some time, so it came as
no surprise that the company saw its earnings jump by 71% on a
year-over-year basis.  BZH also raised full-year estimates for
2003, from $12.00 to $12.25 per share.  Beazer said low mortgage
rates had fueled the increase in demand.  The following day, the
FOMC surprised Wall Street with a half-point reduction in the Fed
funds rate.  The resulting rush to buy the $TYX.X 30-year
Treasury note (and subsequent decline in the 30-year yield)
should serve to keep mortgage rates at low levels.  You'd think
that solid earnings, raised guidance, and a reduction in mortgage
rates would've had a combustible effect on BZH...but that wasn't
the case.  Shares have instead seen heavy selling over the past
two sessions.  As a matter of fact, the entire homebuilding
sector (as gauged by the DJUSHB index) has been moving lower.  It
seems that Wall Street doesn't have a very optimistic outlook for
growth in the home construction group.  This may reflect a
bearish economic perspective among the larger institutional
players, who more often than not tend to be on the winning side
of a trade.

Technically, there are several reasons that we like BZH as a
short play:  The stock has fallen below support at the 50-dma
($64.04) and is currently retracing its October rally.  Bullish
support on the point-and-figure chart has also been violated.
Both the daily stochastics and MACD are clearly negative, with
the latter oscillator showing a fresh bearish crossover.  If
support at $60.00 fails we think BZH could quickly move to retest
its October lows near $52.00.  We want to see an actual breakdown
before entering this play, so we're placing an action point at
$59.94.  If triggered, our stop will be set at $65.06.  More
conservative traders may want to use a stop just above the 50-
dma.  We'll probably do the same if/when this play begins to work
in our favor.

Picked on November xxth at $xx.xx <- see text
Results since picked:       +0.00
Earnings Date            11/05/02 (confirmed)





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

  --------------------
  Bearish Play Updates
  --------------------

Diamonds - DIA - close: 85.28 change: -0.77 stop: 88.26

The Dow Jones saw enthusiastic selling on Friday morning after
index component MCD issued an earnings warning.  The fast food
giant said it expects to close 175 underperforming restaurants,
leading to a reduction in full-year 2002 earnings expectations.
Investors punished the stock with a 7.8% loss.  The McSelloff
helped to weigh down the Industrials, which were also pressured
by pullbacks in GE and DIS.  The index traded in a tight 50-point
range for most of the session and consistently found support at
8500.  The declining MACD and daily stochastics suggest that this
support level will collapse next week.  The fresh double-bottom
p-n-f sell signal should also help our cause.  Short entries in
the Diamonds can be targeted on a move under $85.00.  A rebound
could send the Dow back to the 8700, but we're not anticipating
more than a small one or two-day bounce.  Conservative traders
may want to use a stop just above $87.00.

Picked on November 7th at $85.89
Results since picked:      +0.61
Earnings Date           xx/xx/xx




---

Phillip Morris - MO - close: 42.74 change: -0.32 stop: 44.11

With no fresh news in the tobacco sector, shares of MO continued
to hover above the 50-dma on Friday.  Yesterday's 32-cent gain
was erased as the stock moved lower in tandem with the Dow Jones.
Although the short-term uptrend has not yet broken, the reversing
daily stochastics offer the bears a glimmer of hope.  Given the
lack of upside momentum, we think the stock will have a very
difficult time moving above resistance at $44.00.  This level
corresponds with the 50% retracement from the August highs to
October lows.  Things could really begin to move in our direction
if MO continues to weaken with the Dow.  Next week we'll be
looking for shares to close below the 50-dma ($42.53) and descend
towards the $40.00 level.

Picked on October 29th at $41.49
Results since picked:      -1.25
Earnings Date           10/17/02 (confirmed)




---

Superior Ind. - SUP - cls: 41.56 chg: -0.28 stop: 44.31

As was the case on Thursday, trading in SUP closely reflected the
action on the Doe Jones.  Following this morning's quick spike
above $43.00, shares pulled back to $41.50 and traded sideways
for the rest of the session.  Technical bears will note that the
MACD and daily stochastic oscillators have gone from flat to
slightly negative.  It's a little early to read much into this
rolling action, but we're encouraged by the continued decline
from the 100-day and 50-day moving averages near $44.00.  The
longer-term downtrend is intact and we think the stock will
continue to drift lower with the broader market.  However, more
sideways trading above the relative low ($41.16) might lead us to
drop this play.

Picked on October 28th at $42.97
Results since picked:      +1.13
Earnings Date           10/17/02 (confirmed)






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

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

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

AT&T Corp. - T - close: 13.90 change: +0.25 stop: 12.83

Nice relative strength!  AT&T was the second-strongest Dow Jones
component on Friday.  Shares outperformed the weakening
Industrials and tacked on 1.8%, while the IXTCX (combined telecom
index) drifted lower by 1.5%.  The news front was quiet today,
but we did notice similar gains in SBC and VZ.  Technically, T
might be coiling for a big move.  Shares bounced above
yesterday's low but weren't able to break above $14.00.  This
created an Inside Day formation.  Similar consolidation was seen
in late-October, prior to the stock's breakout to multi-month
highs.  The double-top buy signal on the point-and-figure chart
bodes well for a move to the upside.  But as much as we'd love to
see T explode to the $15-$16 area, the weakening Dow might
complicate our plans.  The bulls will have a tough time propping
up T if the market keeps sliding lower next week.  Our stop at
$12.83 should keep losses minimized if a sell-off does ensue.
Slightly more conservative types could use a break-even stop at
$13.40.  We would not advise taking new positions at this time.

Picked on October 23rd at $13.40
Results since picked:      +0.50
Earnings Date           10/22/02 (unconfirmed)

  --------------------
  Bearish Play Updates
  --------------------

Human Genome Sciences - HGSI - cls: 8.96 chg: -0.44 stop: 10.81

The market jitters heading into Friday didn't hurt our bearish
play on this biotech stock.  The drop in the BTK biotech index
doesn't hurt either.  With several bigger stocks in the group
sliding lower and a poor earnings announcement today by one
biotech firm, the BTK fell 10 points and is quickly approaching
potential support at 340 (currently 349).  Should the BTK break
340 it could mean even worse news for the bulls.  Leading the
charge is the biggest biotech company out there - Amgen.  Shares
of AMGN, as mentioned in the Thursday update, were poised to
break the $45 level of support.  This occurred on Friday and the
stock looks headed for a retest of support at $40.  Adding more
fuel to the fire for a bearish stance on the group was biotech
firm, Protein Design Labs (PDLI).  PDLI lost over 8% today after
third quarter earnings came in lower than expected.  The company
stated a loss of 9 cents a share or $8 million for the quarter
compared to only a 2-cent loss the same period a year earlier.
Shares of HGSI fell 4.6% and closed back under the $9 mark - a
good sign for the bears.  There was an interesting article by
Reuters today quoting the founder of HGSI, William Haseltine.  He
was expounding on the mistakes of big pharmaceutical companies'
focus on small-molecule chemical treatments instead of protein or
antibody treatments that would reduce drug-drug interaction
risks.  Of course this is exactly what the biotech industry is
all about - creating new drug treatments using proteins,
antibodies, and new gene-specific therapies after the science
community completed the human genome project in 2000.  Companies
like HGSI need the big drug companies to help bring their new
treatments to market, so Will's comments are not unbiased.
Unfortunately for William, investors were not listening. This
isn't a surprise.  The biotech industry as a whole has been
somewhat slow to produce new drugs for FDA approval since the
mapping of the human gene.

Our stop loss at $10.81 may seem a bit wide and traders looking
for new entries can probably use something tighter to reduce
risk.  We're waiting for a close under the $8.50 level before
lowering our stop.  Alternatives could be $10.51 or $10.01.
Considering the close under $9.00 this does not look like a bad
spot to consider new positions but as you do evaluate an entry
keep an eye on the BTK, the COMPX and AMGN (since it's the
biggest biotech in the group).  As always, when trading a biotech
company, use risk capital - especially when shorting a biotech
stock.  Investments in any biotech are always subject to headline
risk (both good and bad).

Picked on November 1st at  $9.49
Results since picked:      +0.53
Earnings Date           10/29/02 (confirmed)





===============
HR Closed Plays
===============

  --------------------
  Closed Bullish Plays
  --------------------

Tenet Healthcare - THC - close: 14.90 change: -13.05 stop: 23.69

Well, we knew it was coming.  As discussed in yesterday's update,
Tenet Healthcare announced the resignation of its CEO and COO on
Thursday night.  The company also said it would need to review
its billing policies before it could provide a long-term business
outlook.  Coming on the heels of a federal audit, this news did
not sit well with investors. The uncertainty created by these
announcements led to a huge gap lower this morning.  THC began
trading at $16.65, at which point our play was stopped out for a
loss of 39%.  The stock continued to drift lower throughout the
day before finishing with the day with a 13-point loss.  The slew
of brokerage downgrades and likelihood of a reduction in THC's
credit ratings raises the possibility of still more selling.  The
final outcome of this play underscores why it's absolutely
crucial to trade with risk capital (money you're willing to part
with) when entering high-risk/reward plays.  Large downward gaps
on bad news are not common...But as today's developments show,
they can be extremely painful for the bulls when they do occur.

Picked on November 6th at $27.48
Results since picked:     -10.83
Earnings Date           10/02/02 (confirmed)




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

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

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

*****************************************************************
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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         Weekend Edition 11-08-2002
                                                   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 November 11th
   - 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 November 11th
==========================================

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

Symbol  Company               Date           Comment      EPS Est

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

BCH    Banco de Chile        Mon, Nov 11  During the Market   0.22
FUN    Cedar Fair LP         Mon, Nov 11  After the Bell      1.99
LZB    La-Z-Boy Inc.         Mon, Nov 11  After the Bell      0.47
LEE    Lee Enterprises       Mon, Nov 11  -----N/A-----       0.42
NZT    Tlcom Corp Nw Zelnd   Mon, Nov 11  During the Market    N/A
MAY    May Depart Strs Co    Mon, Nov 11  -----N/A-----       0.10
TSN    Tyson Foods           Mon, Nov 11  Before the Bell     0.26


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

ANF    Abercrombie & Fitch   Tue, Nov 12  After the Bell      0.43
AXA    AXA                   Tue, Nov 12  -----N/A-----        N/A
BAY    Bayer                 Tue, Nov 12  Before the Bell      N/A
BOX    BOC Group PLC         Tue, Nov 12  -----N/A-----        N/A
CPG    Chelsea Prop Grp,     Tue, Nov 12  After the Bell      0.70
CM     Coles Myer            Tue, Nov 12  After the Bell       N/A
DHI    D.R. Horton           Tue, Nov 12  Before the Bell     0.87
EN     Enel S.p.A.           Tue, Nov 12  -----N/A-----        N/A
FOSL   Fossil, Inc.          Tue, Nov 12  Before the Bell     0.29
JCP    JC Penney             Tue, Nov 12  Before the Bell     0.23
LAMR   LAMAR ADVERTISING CO  Tue, Nov 12  After the Bell     -0.05
MAS    Masco                 Tue, Nov 12  -----N/A-----       0.44
NBG    National Bank Greece  Tue, Nov 12  During the Market    N/A
NTAP   Network Appliance     Tue, Nov 12  After the Bell      0.05
NXL    New Excl Realty Trust Tue, Nov 12  Before the Bell     0.47
NEM    Newmont Mining Corp   Tue, Nov 12  Before the Bell     0.16
PBR    Petrobras             Tue, Nov 12  -----N/A-----       0.63
REP    Repsol YPF            Tue, Nov 12  -----N/A-----       0.34
TRK    Speedway Motorsports  Tue, Nov 12  Before the Bell     0.02
TJX    The TJX Companies     Tue, Nov 12  Before the Bell     0.29
UBS    UBS AG                Tue, Nov 12  Before the Bell      N/A
UBB    Unibanco              Tue, Nov 12  -----N/A-----       0.61
UAXS   Universal Access      Tue, Nov 12  Before the Bell      N/A
VOD    Vodafone Grp Public   Tue, Nov 12  -----N/A-----        N/A
WTW    Weight Watchers Intl  Tue, Nov 12  Before the Bell     0.32
WGR    Western Gas Resources Tue, Nov 12  Before the Bell     0.27


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

AAA    Altana AG             Wed, Nov 13  -----N/A-----        N/A
ANN    AnnTaylor Stores      Wed, Nov 13  After the Bell      0.50
AMAT   Applied Materials     Wed, Nov 13  After the Bell      0.08
RMK    ARAMARK Corporation   Wed, Nov 13  Before the Bell     0.40
ASN    Archstone-Smith Trust Wed, Nov 13  Before the Bell     0.53
CWP    Cable & Wireless Plc  Wed, Nov 13  -----N/A-----        N/A
CPB    Campbell Soup         Wed, Nov 13  Before the Bell     0.44
RIO    Companhia Val Rio DoceWed, Nov 13  -----N/A-----      -0.68
E      ENI SpA               Wed, Nov 13  During the Market    N/A
FD     Federated Depart Strs Wed, Nov 13  Before the Bell     0.32
FST    Forest Oil Corp       Wed, Nov 13  After the Bell      0.10
GALN   Galen Holdings PLC    Wed, Nov 13  -----N/A-----       0.30
HP     Helmerich & Payne     Wed, Nov 13  -----N/A-----       0.23
INTU   Intuit                Wed, Nov 13  After the Bell     -0.23
JHX    James Hardie Ind      Wed, Nov 13  -----N/A-----        N/A
KUB    Kubota Limited        Wed, Nov 13  -----N/A-----        N/A
MAC    Macerich Co           Wed, Nov 13  Before the Bell     0.78
PCG    Pacific Gas Electric  Wed, Nov 13  -----N/A-----       0.60
PSS    PAYLESS SHOESOURCE    Wed, Nov 13  Before the Bell     1.03
PUB    PUBLICIS Groupe SA    Wed, Nov 13  -----N/A-----        N/A
RANKY  Rank Group Plc.       Wed, Nov 13  -----N/A-----        N/A
IMI    SanPaolo IMI SpA      Wed, Nov 13  -----N/A-----        N/A
SI     Siemens AG            Wed, Nov 13  -----N/A-----        N/A
IPG    The Inter Group Co    Wed, Nov 13  After the Bell      0.08
TIF    Tiffany & Co.         Wed, Nov 13  Before the Bell     0.18
WMT    Wal-Mart Stores Inc.  Wed, Nov 13  Before the Bell     0.40


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

AZ     ALLIANZ AG            Thu, Nov 14  Before the Bell      N/A
AEOS   Am Eagle Outfit Inc   Thu, Nov 14  Before the Bell     0.31
AOT    Apogent Technologies  Thu, Nov 14  After the Bell      0.35
IRE    Bank of Ireland       Thu, Nov 14  -----N/A-----        N/A
BF     BASF                  Thu, Nov 14  -----N/A-----        N/A
BEAS   BEA Systems           Thu, Nov 14  -----N/A-----       0.06
BNG    Benetton Group        Thu, Nov 14  -----N/A-----        N/A
CMS    CMS Energy Corp.      Thu, Nov 14  Before the Bell     0.30
CSR    Credit Suisse Group   Thu, Nov 14  Before the Bell      N/A
DELL   Dell Computer Cor     Thu, Nov 14  After the Bell      0.21
EON    E.ON AG               Thu, Nov 14  -----N/A-----        N/A
DISH   EchoStar Comm Corp.   Thu, Nov 14  Before the Bell     0.07
GPS    Gap Inc.              Thu, Nov 14  After the Bell      0.06
KNBWY  Kirin Brewery Company Thu, Nov 14  Before the Bell      N/A
KSS    Kohl`s                Thu, Nov 14  After the Bell      0.34
KEP    Korea Electric Power  Thu, Nov 14  -----N/A-----        N/A
L      Liberty Media Group   Thu, Nov 14  -----N/A-----      -0.02
MTA    MATAV                 Thu, Nov 14  -----N/A-----        N/A
SBUX   Starbucks             Thu, Nov 14  After the Bell      0.15
TGT    Target Corporation    Thu, Nov 14  Before the Bell     0.28
TEF    Tele Espaqa S.A.      Thu, Nov 14  Before the Bell      N/A
WMB    Williams Companies    Thu, Nov 14  Before the Bell     0.02

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

SJM    J. M. Smucker Company Fri, Nov 15  Before the Bell     0.49
KPN    Royal KPN N.V.        Fri, Nov 15  Before the Bell      N/A
SDX    Sodexho Alliance S.A. Fri, Nov 15  -----N/A-----        N/A


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

Symbol  Company Name              Ratio    Payable     Executable

CPBI    CPB Inc.                  2:1      Nov.  8th   Nov. 12th
SBGA    Summit Bank Corporation   2:1      Nov. 18th   Nov. 19th
COO     Cooper Cos                2:1      Nov. 22nd   Nov. 25th


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

The market will continue to react to late third quarter earnings
reports.  This week we'll see sector heavy weights AMAT report
on Wednesday and DELL report on Thursday.  Late in the week look
for retail sales reports and the PPI.

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

Monday, 11/11/02
----------------
None

Tuesday, 11/12/02
-----------------
None


Wednesday, 11/13/02
-------------------
None


Thursday, 11/14/02
------------------
Initial Claims (BB)   11/09  Forecast:   400K  Previous:     390K
Export Prices ex-ag.(BB)Oct  Forecast:    N/A  Previous:     0.0%
Import Prices ex-oil(BB)Oct  Forecast:    N/A  Previous:     0.2%
Retail Sales (BB)       Oct  Forecast:  -0.2%  Previous:    -1.2%
Retail Sales ex-auto(BB)Oct  Forecast:   0.2%  Previous:     0.1%


Friday, 11/15/02
----------------
Business Inventories(BB)Sep  Forecast:   0.0%  Previous:    -0.1%
PPI (BB)                Oct  Forecast:   0.3%  Previous:     0.1%
Core PPI (BB)           Oct  Forecast:   0.1%  Previous:     0.1%
Industrial Prduction(DM)Oct  Forecast:  -0.4%  Previous:    -0.1%

Capacity Utilization(DM)Oct  Forecast:  75.7%  Previous:    75.9%
Mich Sentiment-Prel.(DM)Nov  Forecast:   82.0  Previous:     80.6


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

TMB     Telemig Cellular           17.31     +0.81
XTRM    Brass Eagle Inc             8.34     +1.14

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

RIMM    Research In Motion         16.58     +3.52
STLWD   Stratos Lightwave           8.04     +1.07

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

EAT     Brinker International      30.34     +1.14
CFFN    Capitol Federal Fincl.     26.03     +1.43
BVN     Compania De Minas          24.30     +1.01
BYS     Bay State Bancorp          25.65     +1.10

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

WLP     Wellpoint Health Ntwk.     74.04     -4.47
MME     Mid-Atlantic Medical       33.29     -3.13
PHSY    Pacificare Health Sys.     29.41     -2.58
S       Sears Roebuck              24.03     -1.75
BRP     Brasil Telecom             24.93     -1.02
SPF     Standard Pacific Corp      22.12     -1.01
PRE     Partnerre Ltd              46.45     -1.82

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

AET     Aetna Inc                  39.45     -3.15
TBL     Timberland Co              31.62     -1.24
CEG     Constellation Energy       24.81     -1.14
STLY    Stanley Furniture          24.12     -0.69
PCL     Plum Creek Timber          22.86     -0.46
JNC     John Nuveen                26.39     -0.50
KWK     Quicksilver Resources      22.07     -0.49




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