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Daily Newsletter, Wednesday, 11/13/2002

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PremierInvestor.net Newsletter              Wednesday 11-13-2002
                                                  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:      Back Where We Started
Watch List:       BGEN, IMCL, NOC, PG, TDS, TSG, and more...
Play of the Day:  Biotech Breakdown


******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
11-13-2002                High    Low     Volume Advance/Decl
DJIA     8398.49 + 12.49 8493.51  8298.68  1702 mln   1155/538
NASDAQ   1361.34 + 11.78 1371.74  1334.13  1089 mln   1377/251
S&P 100   450.61 +  0.11  455.73  445.28   totals     2532/789
S&P 500   882.53 -  0.42  892.51  872.05
RUS 2000  376.11 +  1.42  379.08  371.29
DJ TRANS 2290.88 + 10.19 2307.29  2235.81
VIX        36.28 +  0.89   36.87  34.53
VIXN       54.46 -  0.79   56.66  52.74
Put/Call Ratio .75
******************************************************************


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

Back Where We Started

by Steven Price

On a day with that had testimony from the Fed chief and an
announcement that Iraq was going to unconditionally accept the
U.N.'s weapons inspection proposal, the closing prices on the Dow
and Nasdaq look relatively tame.  Of course that would discount
the intraday action that saw a swing of almost 200 Dow points and
35 Nasdaq points.  We are continuing the trend of wide intraday
swings, as investors try to digest conflicting signals given on a
seemingly daily basis.

The market began the day heading downward, as Alan Greenspan
testified that the economy had hit a "soft spot" and that the
losses suffered in the equity markets had outstripped gains in
the housing market.  The Chairman basically said that while
roughly half of equity extractions from homes go into personal
consumption expenditures and outlays on home modernization, the
net decline in the market value of stocks has greatly exceeded
the additions to capital gains on homes over the past two years.
He also said geopolitical risks have made companies reluctant to
expand their operations, hire workers, or buy new equipment and
business spending has yet to show any substantial vigor.  On the
positive side, he said that productivity gains have continued,
most likely due to innovations in computing and communications
technology, but questioned just how long that expansion would
continue.

Greenspan also basically said that the recent 50-basis point rate
cut was done because the risks of inflation were much lower than
the risks of leaving rates too high in a faltering economy.  He
said, "Remember, most of the GDP growth in the third quarter is
largely from sharp increases in July, and in some cases, early
August. But it's been softening since then. Our best judgment,
and, indeed, the data to date confirm that this is a gradual, not
a cumulative decline. But there is a probability, small as it may
be, that we may be wrong; that this may be the beginning of
something more than appears most likely."

Just when things seemed bleak, news hit the wires that Iraq would
accept the U.N.'s weapons inspections proposal. This was a 180-
degree turnaround from yesterday, when the Iraqi parliament
rejected the proposal, but said the final decision rested with
Saddam.  My guess is that most of yesterday's parliamentary
debate was scripted, so that in the end Hussein would come out
looking like a changed man, cooperating with the U.N., in spite
of "pressure" at home.  Quite a P.R. department they've got over
there. It seems Iraq had little choice, other than agreeing to
the proposal, and just how cooperative the country is, remains to
be seen. Crude oil futures fell quickly on the news, after
rebounding for the last three days, following the UN approval of
the U.S. designed proposal. They finished the day close to $25
per barrel, after reaching a high near $31 per barrel at the end
of September.

Chart of Crude Oil Futures


Nevertheless, the prospect of war seemed a little more distant
and we got a big bounce from the news.   The blue chips rallied
from a low of 8298 all the way up to 8493, failing for the second
day in a row at 8500.   This rejection just reinforced the
current range between 8200 and 8500, which seems to be collaring
the average right now.  Secondary resistance can be found at 8550
to the upside, as well, but a close over 8500 should serve as a
red flag for shorts. For now it seems the best plan is to trade
within the current range, getting longer on bounces around 8200-
8300 and shorter on failed rallies at 8500.  If we break through
these levels, then it is likely time to follow in the direction
of the break.  Make sure to wait for a bounce, however, if we
test 8200-8300, because if those levels fail, it may be a quick
trip to 8000.

The S&P 500 (SPX) appears to have a similar top on it at 900,
which has served at resistance once again.  This level proved
tough before the big run, during the first part of last week, and
can once again be used as a breakout gauge. While 925 is almost
40 points above the current level, it can be used as a signal of
renewed strength on a longer term basis, since any failed rally
below that point can be seen as a dead cat bounce and the
possible right shoulder in a new H&S formation.

Chart of the SPX



The Nasdaq 100 (NDX) appears stronger than the other indices, as
it has maintained support at 1000, rather than seeing resistance
there.  Yesterday's big jump in that group was followed by
another increase today of 10 points, which was more impressive
than the gains in the Dow or SPX.  The Nasdaq Composite rebounded
right up to previous resistance around 1360, the level from which
it gapped up on November 4, so continued strength back into the
gap, after if was filled on the way down, could bring it right
back up to 1400.  However, today's comments after the bell from
AMAT (see below) may take some shine off the tech sector in the
morning.

Chart of the NDX


Chart of the COMPX


Consumer spending got some conflicting data from the retail
sector this morning, as well.  Wal-Mart beat earnings estimates
by a penny, but noted a "difficult" retail environment.  The
company raised its forecast for sales growth from 2-4% to 3-5%
(which is still beneath traditional growth numbers of 4-6%), but
said the increase in spending was less than all of us would like.
The CEO also identified slowing comparable store sales growth and
targeted 4th quarter earnings at the low end of analysts'
expectations.

Nordstrom warned after the bell on Tuesday that it would miss
forecasts, blaming the miss on increased distribution costs and
record keeping changes. The stock finished down almost $3 at
$19.12.  Federated also beat estimates by a penny this morning,
but same store sales were down 2 percent.  The company said it
expects same store sales to be unchanged or down for the fourth
quarter, due to the slow economy and lack of consumer confidence.
Tomorrow brings earnings from Target and Kohl's, as well as
monthly retail sales numbers, which are expected to show a small
decline in October; so we should see even more volatility in the
sector.  We'll get a good idea just how heavy Santa's sleigh will
be this year, after this week reveals most of the pre-holiday
shopping data.

Sears saw its rating cut by Goldman Sachs from in-line to
Underperform.  While the firm said it may have overestimated the
amount of the retailers' Sears' Gold MasterCard charge-offs, it
still believed the company would have to increase charge-offs and
lowered 2003 estimates. The stock fell to a 20-year low, losing
$1.70 to close at $21.00. I am starting to worry about other
stores that offer store credit, as well.  If Sears is seeing
defaults on their credit cards, then I can't imagine it is the
only retailer with the problem.  In light of the recent problems
in the banking industry with underperforming loans, this may be
the next problem to raise its head across several sectors of the
economy.

After the bell, Applied Materials (AMAT) released earnings that
beat estimates by a penny, but had only negative things to say.
It said that the results were achieved in a very, very difficult
environment that it doesn't expect to improve anytime soon. The
company also guided lower and said it expects first quarter
revenues to drop 20% from the fourth quarter. This is not good
news for the semiconductor stocks, which have so far been able to
shake off poor earnings reports this season.  The Semiconductor
Index (SOX.X) has now failed at 300 the last three trading
sessions, after falling back below that level on November 8, for
the first time since the beginning of the month. Shorts in the
sector can take solace in the fact that there have been rebound
attempts intraday, and each time the sector has found sellers.
After AMAT's report, we should see continued weakness and with
new resistance in place, the risk/reward ratio seems to be
getting better to the short side.

Chart of the SOX



Some of Citigroup's dirty laundry hit the newswires today.
Analyst Jack Grubman explained that he had attempted to pump up
his professional reputation by claiming in an email that he
upgraded AT&T in order to help CEO Sanford Weill seize power from
former co-chairman John Reed. This act would supposedly align
AT&T Chairman Michael Armstrong, who also sat on Citigroup's
board, with Weill and help him "nuke" Reed.  Not sure how one
pumps up a reputation by claiming they performed an illegal act,
but apparently in Grubman's world, that's the way it works.   In
any case, Grubman claimed the email was a fabrication, just
before Weill admitted he had asked Grubman to take another look
at the stock. Confused?  Citigroup's investors weren't.  They
dumped some of the stock, which lost $1.39 to close at $35.00.
Something tells me there will be more to come from this story.

Tomorrow will bring more economic data.  We'll get retail sales,
import and export prices, and initial jobless claims. Consumer
Sentiment and PPI will follow those numbers on Friday.  My guess
is that we'll be testing the aforementioned Dow range limits
further on the upcoming data - again.


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

Biogen Inc - BGEN - close: 38.26 change: -0.33

WHAT TO WATCH: The technical picture for BGEN has deteriorated
slightly since we mentioned it on the Monday watch list.  Shares
underperformed the NASDAQ today and finished with a small loss.
The recent rollover from the 200-dma ($41.07) and three-box
reversal on the p-n-f chart are positive developments for the
bears.  BGEN has had trouble trading above $39.00 over the past
two sessions and traded an Inside Day on Wednesday.  A breakdown
out of this consolidation pattern might send the stock towards
the next level of support at $35.00.




---

ImClone Systems - IMCL - close: 10.87 change: +1.12

WHAT TO WATCH: On Wednesday IMCL popped its head above $10.00 for
this first time in almost five months.  The breakout above
psychological resistance led to an explosive 11% rally.  Although
we wouldn't be looking to chase the stock higher, an intraday
pullback to the $10.50 area might give aggressive bulls a chance
to jump onboard.  The high volume behind today's rally bodes well
for a sustained uptrend.  The 200-dma at $12.66 would be a good
upside target to shoot for, but be aware that the June high of
$11.66 may act as resistance.




---

MGIC Investment Corp - MTG - close: 38.42 change: -1.35

WHAT TO WATCH: MTG looks like it's on a crash course with the
multi-year low of $33.60.  There isn't any discernible news to
explain it, but the stock has trended sharply lower since topping
out near $48.50 on October 21st.  Today's sell-off from
psychological support at $40.00 (which was backed by very brisk
volume of 1.7M shares) raises the possibility that MTG will
retrace its entire mid-October rally.  While aggressive traders
could consider short entries on a move under today's low
($38.20), a failed rally at the $39.50-$40.00 might yield a more
favorable entry point.




---

Northrop Grumman - NOC - close: 93.27 change: -4.01

WHAT TO WATCH: Defense-related issues traded lower today after
the Iraqi government agreed to U.N. demands that it allow weapons
inspectors into the country.  While this development has by no
means eliminated the Bush administration's plans for regime
change, it does increase the likelihood that no invasion will
take place until February or March of 2003.  Shareholders of NOC
were also stymied by news that the SEC may sue the company over a
lack of disclosure related to the failed Lockheed merger in 1998.
The stock has already suffered heavy losses over the past month,
and these allegations certainly don't help matters.  From a
technical standpoint we like NOC as a possible bearish play
because the stock has broken to fresh multi-month lows.  Short-
term traders could look for entries at current levels, initially
targeting the 52-week low of $88.50.  Further negative news might
help to push NOC down to the $85.00 area.




---

Procter & Gamble - PG - close: 85.80 change: +0.39

WHAT TO WATCH: This Dow Component has continued to weaken from
its 50-dma ($89.60) and 200-dma ($88.71).  Shares managed a small
bounce from yesterday's relative low but couldn't crack through
short-term resistance at $87.25.  A break below the October low
of $84.75 might really get things moving to the downside as the
stock begins to retrace its summer rally.  A retest of the July
lows near $74.00 might be a bit ambitious for short-term traders,
but a quick decline to the $78-$80 area wouldn't be out of the
question if the Dow continues to weaken.  A trade at $84.00 will
put PG below bullish support on the p-n-f chart.




---

Telephone & Data Systems - TDS - close: 51.25 change: -0.45

WHAT TO WATCH: Shares of TDS have been gyrating between $50.00
and $53.50 for nearly a month.  If the descending 50-dma ($52.67)
continues to act as resistance, it'll just be a matter of time
before shares move out of the tightening range.  We like TDS as a
possible short play on a break under the relative low of $49.91.
The daily chart shows a notable lack of support in the $45-$50
area.  If the stock does head lower we'd expect to see a rapid
retracement of the early-October rally.  A move under $49.00
would create a double-bottom sell signal on the p-n-f chart.  The
current bearish vertical count is $30.00.




---

Sabre Holdings - TSG - close: 19.12 change: -1.75

WHAT TO WATCH: Internet travel stocks EXPE and ROOM enjoyed some
very impressive gains over the past month, while shares of Sabre
Holdings (the parent company of Travelocity.com) remained
conspicuously flat.  TSG moved higher from the $15.00 area in
early October and has been hovering near $20.00 ever since.
Things started to get interesting today when shares dropped by
8.3% and fell below short-term support at $19.20.  The catalyst
for the sell-off was a Wall Street Journal report on the
likelihood that the Bush administration will propose changes that
would allow airlines more flexibility in deciding how they
distribute tickets.  The article speculated that the changes
would give Orbitz (which is owned by the airlines) exclusive
access to bargain fares.  This would negatively impact
competitors such as TSG and EXPE.  We believe TSG might present a
good bearish entry point if it falls below $18.50.  Other than
thin support near $18.00, there are no major obstacles to prevent
a retest of the $15.00 level.  A break under $18.50 will also
create a double-bottom sell signal on the p-n-f chart.




---

Wellpoint Health Ntwk. - WLP - close: 75.43 change: +0.42

WHAT TO WATCH: The revelations of questionable Medicare billing
procedures at Tenet Healthcare (THC) put a glaring spotlight of
suspicion on the overall healthcare sector.  WLP traded lower
last week and didn't stop falling until it reached the 200-dma.
We believe this sell-off may have been overdone.  Although
there's been a flood of negative media attention surrounding the
HMO's, there are no indications that Wellpoint has engaged in any
improper billing or accounting practices.  Technically, the
reversing oscillators and bear trap alert on the p-n-f chart
suggest that WLP will continue to bounce from its 200-dma
($72.44).  Aggressive traders willing to deal with the risk of
additional negative sector news could target bullish entries on a
move above today's high ($77.13).  Although the 50-dma at $77.83
might act as resistance, historically this moving average has not
posed a problem for WLP.  The bulls will probably face a larger
challenge at the $80.00 level.





=========================
Play-of-the-Day (BEARISH high-risk/high-reward play)
=========================

Human Genome Sci. - HGSI - cls: 8.50 chg: -0.58 stop 9.51 *new*

Company Description:
Human Genome Sciences is a company with the mission to treat and
cure disease by bringing new gene-based drugs to patients.
(source: company press release)


- ORIGINAL WRITE UP: October 31st, 2002 -

Why We Like It:
Human Genome did not impress Wall Street with its earnings report
on Tuesday. The company said that ongoing efforts to move their
experimental drugs through clinical trials had resulted in a net
loss of 58 cents/share for the third-quarter, tripling last
year's Q3 loss. Consensus estimates were for a loss of only 38
cents. Such a severe earnings miss would typically result in the
stock getting slaughtered, but investors seem to be a little more
forgiving in the speculative realm of biotechnology. Still, the
bad news has not gone unnoticed. HGSI gapped lower on Tuesday
morning and broke through support at $10.50.

Today's trading saw the stock fall under the $10.00 level for the
first time since 1999. Selling volume has been high, which
suggests that shares may continue to fall in the short-term. (On
a related note, check out that huge volume spike on October 17th.
The stock was hammered after a brokerage report indicated that
Human Genome might have only a year before it has to start
raising cash to operate and pay off debts. This is easier said
than done for a biotech company with plenty of drugs in the
pipeline but no products on the market.) This week's breakdown is
enough to have the bears licking their chops, and additional
technical negativity is provided the quadruple-bottom sell signal
on the point-and-figure chart. Given the lack of underlying
support, we think HGSI could easily test the 1999 lows near
$7.00. We'd like to see more evidence of weakness before entering
this paper trade, so we've placed an entry trigger at $9.49. If
we're triggered we'll use a stop slightly above Tuesday's high,
at $10.81. Those who are a bit more aggressive could use a stop
above $11.00.

- Most recent update: November 12th, 2002 -

Shucks! Monday was looking rather sweet for the biotech bears.
Shares of HGSI slipped to a new low of $8.83 before closing at
8.87. The follow through on the close under $9.00 looked very
encouraging for shorts. We think the bounce today in HGSI was
just that - a bounce. The 1.45% gain on Tuesday's session could
have been worse. The broader markets were in rally mode for most
of the day but stocks couldn't seem to hang on to those gains.
Despite the afternoon pull back several technology groups out
performed the S&P 500. The biotechs were one of them. The BTK.X
bounced and traded as high as 353 (almost 354) before slipping
again. This is probably attributed to an upgrade for Amgen. CIBC
World Markets upgraded shares of AMGN from a sector perform to a
sector outperform. Not too bullish but enough to give AMGN a
bounce off its 100-dma and the $44 level. Keep an eye on AMGN as
it leads the biotechs. Closer to home there was positive news
from the HGSI PR machine. The report on Monday out of HGSI on
their Albuleukin drug may have slowed the stock's descent. The
report stated that scientists had achieved positive results in a
mouse model on a malignant human melanoma tumor. HGSI plans to
file for a New Drug application with the FDA sometime next year
but it's too early to tell. Unfortunately for shareholders there
didn't seem to be much excitement over the news. Our strategy at
this point is to tighten our stop to $10.61. HGSI, AMGN and the
BTK.X could bounce yet again. We're going to reduce our exposure.
However, those traders looking for a new entry might want to
watch for a failed rally anywhere between $9.50 and $10.00. It
could be a new entry point.

- Play-of-the-Day Comments: November 13th, 2002 -

Traders who were watching HGSI this afternoon and stepped away
for a bite to eat were in for quite a shock when they came back
to their desks.  The stock (which was already drifting in
negative territory) was slammed for a 5% loss in just 20 minutes.
There was no apparent news to explain this sell-off.  We noticed
similar action in drug giant MRK around the same time, but the
two declines appear to be unrelated.  From a technical
perspective, it makes sense that the bears piled on HGSI after
shares fell to new multi-year lows; Investors just have very
difficult time buying a stock with weak fundamentals that has no
immediate support levels.  You'd have to look all the way back to
the 1999 low of $7.18 to find the next area of possible support.
We're placing an official profit-target above this level at
$7.51.  Aggressive traders looking to add short positions can
watch for a move under today's low ($8.34) or another rollover
from $9.00.  The strong volume behind today's decline is a good
indication that HGSI will continue to move lower.  Our stop-loss
has been moved to $9.51, two cents above break-even.  The Premier
Investor newsletter is currently up 10.4% on this play.

Picked on November 1st at  $9.49
Results since picked:      +0.99
Earnings Date           10/29/02 (confirmed)







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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

*****************************************************************
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Newsletter, or any Premier Investor Network newsletter please
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Copyright ) 2002  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter               Wednesday 11-13-2002
                                                   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
  Closed Bearish Plays:  MO

High Risk/Reward
  Stop Adjustments:      HGSI (bearish)

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 Closed Plays
===============

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

Phillip Morris - MO - cls: 38.25 chg: +1.22 stop: 38.06

No new lows for MO today.  The stock leveled out near the $38
area, in spite of reduced analyst expectations and a downgrade
from S&P.  This play was closed for an 8.2% gain when MO hit our
stop at $38.06.  The bears might've been able to hold on a little
longer if the Dow Jones hadn't bounced, but yesterday's 13.8%
decline was simply a lot of ground to cover in just one session.
Some short-covering was understandable after such a severe
decline.  Although the downtrending oscillators indicate that
shares could continue lower, we would not expect the bulls to
give up the $36.00 support area without a fight.  Bearish traders
can instead watch for a rebound and failed rally at $40.00 to
provide a new shorting opportunity.

Picked on October 29th at $41.49
Results since picked:      +3.43
Earnings Date           10/17/02 (confirmed)






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

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

Stop Adjustments
----------------

Human Genome Sci. - HGSI - cls: 8.50 chg: -0.58 stop 9.51 *new*

HGSI was hammered with heavy selling shortly before 3:00 today.
There wasn't any news to attribute this sell-off to, but the
bulls may have decided to throw in the towel when shares moved
under the previous intraday low of $8.71.  The strong volume
behind this decline suggests that HGSI will continue to move
lower on Thursday.  New short entries can be targeted on either a
rollover from $9.00 or a break under today's low of $8.34.  We've
set an official target at $7.51, safely above the 1999 lows.  Our
stop-loss is now set at $9.51, which is essentially break-even.





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

MOVI    Movie Gallery              16.71     +0.67
THER    Therasense Inc              9.06     +0.90
CHKP    Checkpoint Software        14.90     +0.99
MMS     Maximus Inc                23.00     +0.70
USTR    United Stationers          30.50     +0.52
GRTS    Gart Sports Co             21.90     +1.15

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

TIVO    Tivo Inc                    5.95     +1.05
LQMT    Liquidmetal Tech            9.91     +1.33
PYX     Playtex Products           10.81     +1.61

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

ISSX    Internet Security Systems  22.39     +1.51
KRON    Kronos Inc                 39.50     +1.15
HTCH    Hutchinson Tech.           25.52     +1.77
GPRO    Gen Probe Inc              21.68     +2.68
SWBT    Southwest Bancorp          27.17     +1.67
AOS     AO Smith Corp              22.53     +1.01

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

ROL     Rollins Inc                23.64     -1.04
MRK     Merck & Co                 52.80     -2.02
NOC     Northrop Grumman           93.27     -4.01
EXPE    Expedia Inc                67.62     -4.73
AVE     Aventis                    57.25     -1.05
PD      Phelps Dodge               29.95     -2.09
PNR     Pentair Inc                29.34     -1.56
LAMR    Lamar Advertising          33.00     -1.88

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

KMG     Kerr-Mcgee Corp            42.31     -0.95
PKX     Posco                      23.26     -0.69
SHR     Schering Plough            47.50     -0.29
DEBS    Deb Shops Inc              24.92     -1.07




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