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Daily Newsletter, Friday, 12/06/2002

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PremierInvestor.net Newsletter          Weekend Edition 12-06-2002
                                                    section 1 of 3
Copyright ) 2002, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================

In section one:

Market Wrap:      Got Work?
Play-of-the-Day:  Big Brother Inspires A Big Rally
Watch List:       AU, BARZ, EXPD, PVN, QLGC, and lots more...
Market Sentiment: Out With the Old

******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
       WE 12-06        WE 11-29        WE 11-22        WE 11-15
DOW     8645.77 -250.32 8896.09 + 91.25 8804.84 +226.75 + 41.96
Nasdaq  1422.44 - 56.30 1478.74 + 10.05 1468.74 + 57.60 + 51.86
S&P-100  464.42 - 14.43  478.85 +  3.82  475.03 + 11.31 +  6.33
S&P-500  912.23 - 24.08  936.31 +  5.76  930.55 + 20.72 + 15.09
W5000   8629.16 -217.52 8846.68 + 63.55 8783.13 +199.08 +145.25
RUT      396.72 -  9.64  406.36 +  6.36  400.00 + 14.08 +  6.93
TRAN    2388.81 + 28.19 2360.62 + 46.64 2313.98 - 19.12 - 13.68
VIX       32.68 +  1.60   31.08 +  4.35   26.73 -  4.10 -  2.73
VXN       52.28 +  2.80   49.48 +  2.00   46.49 -  3.19 -  2.33
TRIN       1.11            1.04            1.05            0.67
Put/Call   0.91            0.62            0.70            0.57
******************************************************************

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

Got Work?
by Jim Brown

If you have work then you are better off than the 8,508,000
currently unemployed. The markets did not take well to Friday's
economic numbers and without the "timely" resignation of O'Neil
and Lindsey the trading outcome could have been much different.

Dow Chart - Daily


Nasdaq Chart - Daily


The big economic news on Friday was the jobs report and it was
news the markets could have done without. The unemployment rose
to 6.0% matching the high from April and the highest number in
years. Jobs fell by -40,000 in November and was well below the
consensus estimate for a gain of +28,000. This was the biggest
drop in jobs since February. Manufacturers continued to cut
employees and the retail sector lost -39,000 jobs. If the
consumer is still buying then why would retail cut jobs just
before the holiday season? Inquiring minds want to know! The
numbers for Sept/Oct were revised up by +10,000 on better data
but the total drop in private payrolls for the last three months
was fixed at -103,000. If the recovery is really under way then
it is being supported by fewer workers and we are far from a
major improvement. With job losses declining in the supposedly
strong seasonal period this does not bode well for the economy.

The rising unemployment is also being felt in the consumer
credit numbers. The October consumer credit came in at an
increase of only +$1.4 billion instead of the +$8.5 billion
expected. Come on guys, some of your wives are not contributing
to the recovery. Give them back the credit cards! (grin) The
numbers for Aug/Sept were also revised down considerably. The
October number was the low for the year and well under the
cycle peak in May. Considering the number of new auto loans
undertaken in the last 90 days this means the retail consumer
was positively hoarding money. Analysts claim that the mortgage
refinancing boom has put money into consumer pockets and
reduced the need to press the plastic into use. The trouble
with this theory is that the cash is not flowing into the
retail sector. If cash is available then consumers are stashing
it for a rainy/snowy day.

In a startling coincidence the resignation of O'Neil and Lindsey
occurred on the same morning that very negative "economic" reports
are announced and one day before the Iraq papers go public. What
a stroke of luck for the markets! (grin) The administration
instantly distracted the public from a possible market meltdown
and a potential main event on the Iraqi front. The resignations
had been rumored for several months and several analysts were
on record as saying they had probably been in the hopper for
several weeks in anticipation of a bad news event. Another
report had VP Cheney delivering the bad news to O'Neil in his
office yesterday and offering to let him resign. Whatever story
you believe there is the problem of no immediate successor for
either position. Had this been in the works for weeks you would
have expected the administration to have a replacement ready.
There are so many possible conspiracy theories as to why now
that it is impossible to decide who is right. I sometimes think
the simplest answer is the right answer. Bad economic news and
potentially bad war news along with the start of the 2004
campaign required strong action to assure the public that the
administration was in control and felt their pain. I would
expect a flood of tax cut measures immediately to continue the
distraction process and try to pump up consumer confidence.
O'Neil was against further tax cuts. One of the front-runners
for O'Neil's position is Charles Schwab.

Next week we have a Fed meeting on the calendar on Tuesday
but traders will be free to ignore it. They already said they
were not going to cut again and the Fed funds futures are
only showing a 10% chance of a hike. Now that would be a real
surprise! With no change in posture expected the governors
could go in the front, close the doors and go right out the
back for a day of shopping and nobody would know. Put out a
press release at 2:15 for no change, risks balanced and
recovery under way. The next meeting is two days on Jan 28/29
and the rate hike rumors could be running rampant by then.

After two moderately positive mid quarter updates by AMD and
INTC the tech sector failed to follow through on Friday. There
was news from IDC that the disk storage market had fallen on
hard times and global demand was down -3% in the 3Q. IDC also
said PC "shipments" would grow only +8% in 2003 and most of
that would occur in the third or fourth quarter. Gateway
computer instructed employees to take a mandatory five
extra days off later this month. HPQ has instructed contract
workers to take an additional 20 days off in December. This
continued cost cutting shows that things are not picking up
quickly in the PC sector. IBM was an exception and said they
were not requiring anyone to take off. The IBM spokesman said
"I guess we're busy." It was not exactly a strong vote of
confidence. Dell Computer was initially included in the time
off announcement but Dow Jones later printed a retraction.

Dan Niles went on record as saying investors with a long time
horizon should be aggressive about buying chip stocks on any
pullback. QCOM, the leading maker of mobile phone chips, raised
their forecast for chip shipments in the near term. They said
demand in China and India as well as the U.S. was strong. The
news reflected the strong demand for their CDMA technology.
They said "aggressive holiday pricing" was behind the demand
in the states. Even with the AMD, Intel and QCOM news the
semiconductor index finished with a fractional loss. The
Semiconductor Equipment and Materials International group
said sales of equipment to make chips would fall by -30% this
year. They had previously expected a -19% decline in their
latest forecast. The said the non-existence of an upturn had
soured their outlook. For 2003 the group is now expecting
only a +15% increase to $21.8 billion instead of their
earlier estimate of $29.4 billion. The $21.8 billion only
represents a +$3 billion increase and they expect that gain
to come late in the year. FLEX said it was closing circuit
board fabrication facilities in California and Sweden to
cut costs and reduce excess capacity. Niles says buy
aggressively on dips but only if you have a long time
horizon. The long awaited upgrade cycle will come eventually,
maybe not until 2004 but it will come.

Rumors were circulating that Gateway CEO Ted Wait had made
the discouraging comments on Thursday in an effort to drive
down the stock so the company could be taken back private.
With a high in 1999 near $85 the company is trading near
$3.50 now. Surely Ted has an extra billion laying around
which with 324 million shares outstanding is what it would
take to buy it back. That of course assumes he wants it
back. With Dell and HPQ eating their lunch and the company
having to resort to selling flat screen televisions to make
a living he may be ready to bail instead. Kent Barton
suggested on the Market Monitor on Friday that a better
deal would be for Wal-Mart to buy them. WMT has said it
wants to get into the computer business and what better
way than to buy one already in production and put the WMT
marketing power behind an established brand. An extra billion
to WMT is pocket change which they could easily recover in
the first year on marketing power alone. Talk about putting
a crimp in the Dell/HPQ momentum. Way to think out of the
box Kent!

I received numerous emails on my retail comments on Tuesday.
Far too many to answer individually. The vast majority were
in agreement that keeping your eyes open to the world around
you was a prudent task for an investor. Numerous emails
recounted books by Peter Lynch on investing as well as
nuggets from Warren Buffet, John Dessauer and others who
make it a practice to be alert to trends before they make
it into the news sources. I also got quite a few from readers
recounting their mall trips of late. Only a couple reported
packed malls. Dozens reported scarce shoppers carrying no
packages and no lines at the registers. With only two weeks
left before Christmas any buying frenzy will have to appear
very soon. WMT, TGT and Sears were the stores of choice and
most high end stores were mentioned as vacant. I would urge
readers to continue to send me your observations and let's
see if the "official" results match our unofficial poll by
educated investors.

Next week should be interesting. The economic schedule is
very light until Thursday and the FOMC meeting on Tuesday
is a non-event. The challenge will continue to be earnings
warnings as we move full speed into the 4Q cycle. The
break in the eight week winning streak for the Dow was
no big deal and it was due for a breather. If we only have
a one week drop after eight weeks of gains we would all be
excited. The Dow dropped to support at 8500 on the jobs
news and rocketed back +140 points. While this was pleasing
to watch it did not really have enough power to convince
traders that it would stick. Overhead resistance at Dow
8700 and 8800 should keep a lid on any rebound and strong
support at 8350 should prevent any serious drop, this time.

The consensus of opinion is that we could get an oversold
bounce on Monday to something in the Dow 8800 range and
then another bout of selling. The strong gains from the
last eight weeks may not have been digested with only one
week of profit taking. If we do roll over again then the
key level is 8350. If that holds then the Santa Claus rally
could begin. If it fails Santa could be delivering lumps of
coal to all the bullish investors. Dan Niles may be suggesting
aggressive buying and the coming tax changes may be very
bullish but there is still a minefield to cross in our
immediate future.

Enter Very Passively, Exit Very Aggressively!

Jim Brown

"It is not the return on my investment that I am concerned
about; it is the return of my investment." - Will Rogers


=========================
Play-of-the-Day (BEARISH)
=========================
((new tech short))

Verint Systems - VRNT - close: 18.28 change: -0.91 stop: *text*

Company Description:
Verint Systems Inc., headquartered in Woodbury, New York, is a
leading provider of analytic solutions for communications
interception, digital video security and surveillance, and enterprise
business intelligence. Verint software, which is used by over 800
organizations in over 50 countries worldwide, generates actionable
intelligence through the collection, retention and analysis of voice,
fax, video, email, Internet and data transmissions from multiple
communications networks. (source: company press release)

Why We Like It:
Shares of Verint, a spin-off of Comverse Technology (CMVT), began
trading in May of this year.  The stock spent the summer months
trading under $10.00.  It wasn't until October that shares
finally began to move to the upside...and what an upside move it
was!  Fast-forward to this Thursday, and VRNT was trading above
$20.00.  That's one heckuva rally, even considering the strong
October/November gains on the NASDAQ.  If you read our recent
play write-up on AIG you might recall our discussion of the
latest legislation to come out of Washington.  Tonight we're
turning our attention back to Capitol Hill, as we think it helps
to explain the recent meteoric rise in VRNT.  As shown by the
above company description, Verint provides the technology that
generates "actionable intelligence" from a variety of data
sources, including voice, email, and Internet.  Whoa!  That
sounds an awful like the proposed mission of the Total
Information Office, which was created under the Homeland Security
Act that was just signed by President Bush.  As was the case with
bomb-detection experts InVision (INVN) in the aftermath of 9/11,
VRNT seems to have been bid higher on speculation that the
government would use their data-collection technology.
Ostensibly designed to capture communications from Terrorists
based in the U.S., the program has been largely derided by civil
libertarians for violating citizens' fundamental privacy rights.
Just this past week, staunch conservatives Bob Barr and Dick
Armey joined the American Civil Liberties Union.  You know
something is up when two high-profile right-wingers join the
ACLU, which has often been criticized as a tool of the left.  The
rising chorus of opposition to the Total Information Office's
seemingly limitless power has increased the possibility that the
government may shackle its new creation with some chains of
restraint.  That might reduce the prospects of increased revenue
for Verint.

Of course the recent pullback in VRNT could also be attributed to
good old-fashioned profit taking.  The stock had risen 100% in
less than two months.  Volume actually began drying up before the
stock topped out on Thursday.  If no buyers are hanging out at
these levels, VRNT will have a very tough time maintaining its
large gains.  As you might expect, the oscillators are beginning
to fall from overbought levels.   The point-and-figure chart has
also reversed into a column of "O's."  Overall we think VRNT is
poised to retrace a hefty chunk of its recent rally.  Our trigger
to enter this short play will be at $17.97, below short-term
support at $18.00.  Our profit-target will be set at $16.06,
slightly above the 61% retracement from the October low to
December high.  If the play is triggered we'll use a 5% stop-loss
at $18.86.  Slightly more aggressive types could use a stop above
$19.00.  On a final note, conservative traders may want to
consider taking smaller positions in VRNT.  We have absolutely no
evidence to indicate that the company has any government
contracts forthcoming.  However, the possibility exists that
shares could gap higher if a deal was announced.  Keep this in
mind when deciding how large of a short position to take in this
stock.

Picked on December xth at $xx.xx <- see text
Results since picked:      +0.00
Earnings Date           11/26/02 (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
---------------------------------

Anglogold - AU - close: 30.95 change: +1.40

WHAT TO WATCH: The equity market saw some heavy sector rotation
this week as the major indices pulled back from multi-week highs.
Investors appeared to be shifting their money into more defensive
sectors after seeing some rapid gains in technology and financial
stocks.  The XAU.X gold/silver index was a prime beneficiary of
this rotation.  Today's breakout above the 200-dma capped off a
very strong week that saw a gain of more than 12%.  AU also put
in a solid performance after bouncing from its 50-dma at $26.47.
Today's breakout above solid resistance at $30.00 has opened the
door for a rally to the 52-week highs near $34.50.  Shares have
also broken above bearish resistance on the p-n-f chart.  In
light of the recent large gains, we'd feel most comfortable
buying AU on a pullback to $30.00.  Remember, gold usually trades
contrary to the overall market, so traders who are anticipating
an equity rebound next week need not apply.




---

BARRA Inc - BARZ - close: 30.95 change: -2.05

WHAT TO WATCH: Despite a lack of any company-specific news, BARZ
has seen some heavy selling over the past two sessions.
Yesterday's high-volume violation of support at $34.00 carried
over into today's trading after the stock opened below its 50-dma
($32.99).  The lack of underlying support on the daily chart
should have shareholders very concerned.  There's some congestion
in the $26-$27 area, but overall it looks like BARZ could retest
the October lows near $24.00.  The high-volume nature of the
recent sell-off, combined with the double-bottom p-n-f signal, do
not paint a sunny technical picture.  We'd be looking to go short
on a failed rally at the 50-dma.  Those with a more aggressive
strategy could watch for a break under the psychologically-
important $30.00 level.




---

Expeditors International - EXPD - close: 34.27 change: +0.31

WHAT TO WATCH: Slow and steady.  That's the best way to describe
the multi-month uptrend in EXPD.  Shares of the transportation
logistics company have channeled higher since September and are
trading at all-time highs after today's breakout above $34.00.
The bulls might be able to push shares above the upper trendline
now that EXPD is trading in blue-sky territory.  However, the
most prudent entry strategy would be to wait for a pullback to
the $33.00 area.  Much better to let the stock work off some
steam and pull back to a level where you know where the immediate
downside risk is.  In this case, we'd place our stop slightly
below the bottom of the channel.




---

Eli Lilly - LLY - close: 65.44 change: -1.63

WHAT TO WATCH: LLY would be a very tempting short play if it
weren't for that pesky 200-dma at $63.01.  The stock gave back
2.4% today after Isis Pharmaceuticals (whom Lilly has an
agreement with) received a downgrade from UBS Warburg.  The UBS
analyst commented that a late-stage study of Isis' lung cancer
drug has not shown any promising results.  For its own part, LLY
did not garner any buying attention from Thursday's 2002 profit
guidance re-affirmation.  The stock is looking top-heavy after
failing to move above $70.00, while the downtrending oscillators
are hinting at more weakness.  The 200-dma, which is near the
early-November highs, looks like it could provide support.
However, traders willing to give LLY some breathing room could
think about shorting the stock below $64.94.  A move under the
200-dma would set the stage for a test of the 50-dma at $61.16.
A trade at $63.00 would also create a double-bottom breakdown on
the p-n-f chart.




---

Molex Inc. - MOLX - close: 26.10 change: +0.19

WHAT TO WATCH: This NASDAQ-100 component rebounded today after
five consecutive losing sessions, but this may have only offered
a temporary respite for the bulls.  The stock has plenty of
downside potential if it breaks under support at $25.00.  Should
this level fail, we'd be looking for shares to retrace the mid-
October rally and fall towards the $20.00 area.  A trade at
$25.00 will create a double-bottom sell signal on the p-n-f
chart, which is also showing that shares are rolling over from
bearish resistance.




---

Providian Financial - PVN - close: 6.30 change: +0.09

WHAT TO WATCH: Traders looking for a low-dollar stock with a lot
of room to move might want to keep an eye on PVN.  The stock is
looking strong after spending the past week consolidating near
multi-month highs and outperforming the broader market.  While
some may balk at buying at stock that's gained more than 50% from
its October lows, the recent tendency to bounce from $6.00 is an
indication that shares PVN have more upside potential.  Using a
stop just under this level, aggressive entries could be targeted
at current levels.  Other than the relative high at $6.55, we
don't see any major obstacles to prevent a rally to the $8.00
region.  Thus, traders would be risking about 35 cents to
potentially make more than $1.50...Not a bad risk/reward ratio!




---

QLogic Corp. - QLGC - close: 39.15 change: -0.11

WHAT TO WATCH: Chip bulls looking for an Intel-inspired rally on
Friday were sorely disappointed.  The leading semiconductor
company boosted its fourth-quarter revenue forecast last night,
citing greater-than-expected demand for microprocessors.
Combined with AMD's raised earnings forecast, it wouldn't have
been surprising to see the semiconductor index recoup some of its
recent losses.  Instead, both INTC and the SOX.X finished in the
red.  The market's nonchalant reaction to the positive news
should have the bulls on alert.  Although the SOX looks oversold
on a short-term basis (daily stochastics have reached the lower
band), further weakness in the NASDAQ could send the index
towards 300.  QLGC looks like a good sector short after today's
breakdown below the 200-dma at $39.96.  A move below $37.00 would
create a p-n-f double-bottom sell signal and clear the way for a
possible decline to the 50-dma at $34.05.




---

USA Interactive - USAI - close: 25.94 change: +0.93

WHAT TO WATCH: Over the past six weeks, shares of USAI have
consistently found support near $24.50.  Today's move above the
200-dma ($25.57) and bullish engulfing candlestick are positive
signs for shareholders of the diversified media company.  Long
positions with an acceptable risk/reward ratio could be targeted
on a break above $26.15, with a stop just below $24.50.  Although
the daily chart shows possible resistance at $28.00, the rising
stochastics (5,3,3) offer hope that USAI will retest the multi-
month high of $29.80.  The previous two stochastic reversals from
the oversold band foretold some large short-term gains.




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

BGEN - Hmmm...The recent pullback in BGEN just might have offered
a buying opportunity.  Shares are trading along the ascending
trendline of higher lows that has been intact since October.
Long entries could be gauged at current levels, initially
targeting the relative high of $46.81.

HSIC - Shares are beginning to recover from the November sell-
off.  Short-term traders can watch for a move above $44.00 to
take HSIC to the $46-$47 area.  The p-n-f chart has reversed into
a column of "X's."

AT - Today's rebound from $50.00 was an encouraging sign for the
bulls after a steep pullback from $56.  With the daily
stochastics already bottomed out, speculative traders could think
about going long at current levels.

RJR - The tobacco sector caught fire earlier this week after RJR
announced a restructuring plan.  Fundamentally there are still
plenty of concerns surrounding the group, but we can't argue with
the bullish technicals.  RJR has broken above short-term
resistance and appears to be headed for the $45.00 area.  MO is
looking strong as well.


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

Out With the Old

by Steven Price

The schizophrenia continues!  Last night Intel released good
news, raising its revenue guidance for the fourth quarter,
sending the stock briefly higher in the after hours session.  The
bulls were getting ready for an end of the week run after five
straight down days in the Dow.  That was until a disappointing
jobs report this morning showed the unemployment rate rose to a
higher than expected 6%.  This was the same number we saw back in
April 2002 and the highest since July 1994. Economists were
expecting a gain of about 30,000 jobs, and instead we got a loss
of 40,000.  So much for the positive initial claims report
earlier in the week. That report was based on a short week, but
still came in better than expected.  The markets sold off hard on
the open, with the Dow crashing through yesterday's support at
8600 and bouncing just above 8500.  The low was 8501.86, giving
us a snapshot of the new floor.

The drop was short lived, however, as news hit the wire that
Treasury Secretary Paul O'Neill had resigned, at the request of
the White House, clearing the way for President Bush's economic
stimulus package.  The package includes further tax cuts that
O'Neill opposed, saying the economy was fundamentally strong and
that growth would eventually pick up steam.  With O'Neill out of
the way and the now republican Congress set to convene next
month, the markets reacted positively, tacking on almost 180
points from the low intraday.  By the close, the Dow had
revisited both sides of 8600, eventually finishing the day up
22.49 points at 8645.77.  Top Bush economic adviser Larry
Lindsey, the architect of the President's $1.3 trillion, ten-year
tax cut, also resigned.

While conspiracy theorists will say the announcement was timed to
take attention away from the poor jobs report, there is no
denying we are still seeing a downtrend developing in the broader
markets.  The Dow had given up 542 points from Monday's high to
this morning's low and was due for a bounce. In fact, I was
getting nervous about short plays with so many down days in a
row.  Today's bounce may have shaken out some of the bottom
feeders, but it is possible that we may re-test the 8700-8800
range once more before a more pronounced sell-off. Markets do not
go straight down, or straight up. Too many days in one direction
are bound to lead to a correction, before resuming the trend. In
this case, if we roll back over below 8500, then I expect a re-
test of 8350 before the next bounce.   That would support the
formation of a new head and shoulders, as I mentioned in last
night's Sentiment, but we'll wait for another failed bounce
before declaring a right shoulder.   For those readers who missed
it, I'm looking at the possibility of a left shoulder at 8800,
with the head at 9043.

The Semiconductor Index (SOX) dropped hard this morning, as well,
in spite of the positive Intel news.  AMD also raised guidance
yesterday, so the drop over the last two days, after losing 63
points from Monday's high, has looked very bearish.  However, the
SOX did recover for the second day in a row to finish over 329,
which had been previous resistance on the way up and appears to
be the new support level. For those traders tracking this average
(few of whom still have hair that hasn't fallen out or turned
gray over the last couple of months), we saw a tremendous rally
the past couple of months, on disappointing earnings and
predictions of lower revenue.  Now that we are getting raised
guidance and some evidence of an uptick in PC demand, the sector
is selling off severely.   There seems no better time to rely on
technical analysis, since the fundamentals seem to run contrary
to the price action we are seeing. Relying on the price action is
simply giving us a better indication of how institutions are
valuing the stocks in the sector.  National Semiconductor (NSM)
also released earnings today that beat estimates by 7 cents per
share, but said it expects revenues to be flat to down 5% this
quarter.  However, with the Intel and AMD news, we still could
have expected a jump. It seems that if we are going to get a
bounce, then this level, which has now held for the last few
days, should be that bounce point. For that reason, I am weary
about shorting chip stocks until the 329 level is broken on a
closing basis, or until we get that failed bounce.  If we do get
a bounce, then I'll be looking to short it on a rollover
underneath the August high around 365.  There is additional
support below 329 at 310, 300 and 280.

The Nasdaq Composite also broke down through support at 1400 in
the morning, and followed the rally back up to its August high of
1426.  It broke through briefly, trading as high as 1430, but
fell back to close at 1422. If the COMP continues to fail that
level, then the old resistance level may be back in play again
and can be used as a gauge for long plays on a breakout, or
shorting resistance.  With the choppiness of the last couple
days, however, traders should wait for a more defined range to
develop here before choosing levels.

Today's action is a little hard to interpret because of the one
time news event and light trading volume - the NYSE traded only
1.2 billion shares and the Nasdaq 1.5 billion. However, we
continued to see another day of lower highs, with today's rally
topping out at Dow 8679, and lower lows (8500).  The trend is
still down, but we are definitely in bounce territory.  Traders
should look for the earlier mentioned resistance below 8800 to
short on a bounce, or a break below 8500 to land at 8350.

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

Market Averages

DJIA ($INDU)

52-week High: 10673
52-week Low :  7197
Current     :  8645

Moving Averages:
(Simple)

 10-dma: 8777
 50-dma: 8330
200-dma: 9154

S&P 500 ($SPX)

52-week High: 1176
52-week Low :  768
Current     :  912

Moving Averages:
(Simple)

 10-dma:  926
 50-dma:  879
200-dma:  980

Nasdaq-100 ($NDX)

52-week High: 1734
52-week Low :  795
Current     : 1065

Moving Averages:
(Simple)

 10-dma: 1097
 50-dma:  984
200-dma: 1113

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

The Retail Index (RLX.X): The Retail Index has sold off the last
few days, following mixed same store sales results after the
Thanksgiving weekend.  Many stores have said that even better
than expected sales following the holiday have not been
significant enough to improve disappointing November sales
numbers by much. While some specialty retailers posted better
than expected numbers, Federated (FD), which owns Macy's and
Bloomingdale's, said that that better than expected Thanksgiving
sales did not offset weakness early in the month and now sees
November-December holiday sales at the lower end of its prior
guidance of flat to down 2.5%.  Wal-Mart posted same store sales
gains of 2.6% for November, after predicting 2-4% growth, in
spite of record one day revenues on the Friday following
Thanksgiving.   According to Avalon, Kohl's (KSS) sales will
suffer due to bigger than expected department store discounting
designed to drive sales at the expense of revenues, which is a
trend that we will likely see more of as we approach Christmas.
The shortened shopping season, due to a late Thanksgiving, may
not result in fewer purchases, but a higher percentage of
purchases in the last two weeks before Christmas, when prices are
marked down aggressively.

52-week High: n/a
52-week Low : 244
Current     : 283

Moving Averages:
(Simple)

 10-dma: 288
 50-dma: 281
 200-dma: 314
-----------------------------------------------------------------

A combination of factors brought down the VIX today.  First, the
rally off of 8500 in the Dow after 5 straight down days reassured
traders that there may be a bottom between the current levels and
the October lows.  Second, a look at the intraday charts shows
weekend premium pirates selling hard into the close, over the
last half hour of trading.  While this coincided roughly with the
end of day bump in the Dow, the VIX still ended the day lower
than it was when the Dow was testing 8700.


CBOE Market Volatility Index (VIX) = 32.68 -1.60
Nasdaq-100 Volatility Index  (VXN) = 52.28 -1.88

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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.91        483,530       438,535
Equity Only    0.73        347,703       253,584
OEX            1.00         24,385        24,502
QQQ            2.04         35,332        72,095

-----------------------------------------------------------------
$bpnya
Bullish Percent Data

           Current   Change   Status
NYSE          50      + 0     Bull Confirmed
NASDAQ-100    75      + 0     Bull Correction
Dow Indust.   70      + 0     Bull Confirmed
S&P 500       67      + 0     Bull Confirmed
S&P 100       68      + 0     Bear Alert

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   1.52
10-Day Arms Index  1.35
21-Day Arms Index  1.27
55-Day Arms Index  1.17


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       1741          1095
NASDAQ     1706          1480

        New Highs      New Lows
NYSE         36              21
NASDAQ       54              27

        Volume (in millions)
NYSE       1499
NASDAQ     1509

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

Commitments Of Traders Report: 12/03/02

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 reduced long positions by about 3,000 contracts, while
reducing shorts by only 800. Small traders increased long positions
by 6,000 contracts and shorts by 600.

Commercials   Long      Short      Net     % Of OI
11/12/02      437,683   476,540   (38,857)   (4.3%)
11/19/02      446,668   480,270   (33,602)   (3.6%)
11/26/02      447,024   488,250   (41,226)   (4.4%)
12/03/02      444,345   487,411   (43,066)   (4.6%)

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
11/12/02      141,389    70,624    70,765     33.4%
11/19/02      143,070    77,332    65,738     29.8%
11/26/02      155,975    81,962    74,013     31.1%
12/03/02      162,192    82,584    79,608     32.5%

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 left positions mostly unchanged with a small
percentage increase to the long side and a small decrease to the
short position. Small traders reduced long positions by 4,000
contracts, while reducing shorts by 2,500.

Commercials   Long      Short      Net     % of OI
11/12/02       45,647     55,892   (10,245) (10.1%)
11/19/02       42,074     52,302   (10,228) (10.7%)
11/26/02       43,231     52,425   ( 9,194) ( 9.6%)
12/03/02       43,709     51,977   ( 8,268) ( 8.6%)

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
11/12/02       12,698     8,801     3,897    18.1%
11/19/02       16,292    10,540     5,752    21.4%
11/26/02       17,574    12,329     5,245    17.5%
12/03/02       13,749     9,869     3,880    16.4%

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

DOW JONES INDUSTRIAL

Commercials maintained the status quo, while small traders showed
small reductions to long and short positions.

Commercials   Long      Short      Net     % of OI
11/12/02       22,283    14,953    7,330      19.6%
11/19/02       23,535    15,741    7,794      19.8%
11/26/02       20,499    15,015    5,484      15.4%
12/03/02       20,176    15,427    4,749      13.3%

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
11/12/02        5,736     8,513    (2,777)   (19.5%)
11/19/02        4,428     8,203    (3,775)   (29.9%)
11/26/02        6,544    10,350    (3,806)   (22.5%)
12/03/02        5,885     9,781    (3,896)   (24.9%)

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

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




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

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

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

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

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

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


Copyright ) 2002  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 12-06-2002
                                                    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
  New Bearish Plays:     VRNT
  Bearish Play Updates:  TECD

Stock Bottom / Active Trader
  Bullish Play Updates:  TSCO
  Bearish Play Updates:  AIG, DLX

High Risk/Reward
  Bullish Play Updates:  AHC
  Closed Bullish Plays:  ICOS


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

============
NB New Plays
============

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

Verint Systems - VRNT - close: 18.28 change: -0.91 stop: *text*

Company Description:
Verint Systems Inc., headquartered in Woodbury, New York, is a
leading provider of analytic solutions for communications
interception, digital video security and surveillance, and enterprise
business intelligence. Verint software, which is used by over 800
organizations in over 50 countries worldwide, generates actionable
intelligence through the collection, retention and analysis of voice,
fax, video, email, Internet and data transmissions from multiple
communications networks. (source: company press release)

Why We Like It:
Shares of Verint, a spin-off of Comverse Technology (CMVT), began
trading in May of this year.  The stock spent the summer months
trading under $10.00.  It wasn't until October that shares
finally began to move to the upside...and what an upside move it
was!  Fast-forward to this Thursday, and VRNT was trading above
$20.00.  That's one heckuva rally, even considering the strong
October/November gains on the NASDAQ.  If you read our recent
play write-up on AIG you might recall our discussion of the
latest legislation to come out of Washington.  Tonight we're
turning our attention back to Capitol Hill, as we think it helps
to explain the recent meteoric rise in VRNT.  As shown by the
above company description, Verint provides the technology that
generates "actionable intelligence" from a variety of data
sources, including voice, email, and Internet.  Whoa!  That
sounds an awful like the proposed mission of the Total
Information Office, which was created under the Homeland Security
Act that was just signed by President Bush.  As was the case with
bomb-detection experts InVision (INVN) in the aftermath of 9/11,
VRNT seems to have been bid higher on speculation that the
government would use their data-collection technology.
Ostensibly designed to capture communications from Terrorists
based in the U.S., the program has been largely derided by civil
libertarians for violating citizens' fundamental privacy rights.
Just this past week, staunch conservatives Bob Barr and Dick
Armey joined the American Civil Liberties Union.  You know
something is up when two high-profile right-wingers join the
ACLU, which has often been criticized as a tool of the left.  The
rising chorus of opposition to the Total Information Office's
seemingly limitless power has increased the possibility that the
government may shackle its new creation with some chains of
restraint.  That might reduce the prospects of increased revenue
for Verint.

Of course the recent pullback in VRNT could also be attributed to
good old-fashioned profit taking.  The stock had risen 100% in
less than two months.  Volume actually began drying up before the
stock topped out on Thursday.  If no buyers are hanging out at
these levels, VRNT will have a very tough time maintaining its
large gains.  As you might expect, the oscillators are beginning
to fall from overbought levels.   The point-and-figure chart has
also reversed into a column of "O's."  Overall we think VRNT is
poised to retrace a hefty chunk of its recent rally.  Our trigger
to enter this short play will be at $17.97, below short-term
support at $18.00.  Our profit-target will be set at $16.06,
slightly above the 61% retracement from the October low to
December high.  If the play is triggered we'll use a 5% stop-loss
at $18.86.  Slightly more aggressive types could use a stop above
$19.00.  On a final note, conservative traders may want to
consider taking smaller positions in VRNT.  We have absolutely no
evidence to indicate that the company has any government
contracts forthcoming.  However, the possibility exists that
shares could gap higher if a deal was announced.  Keep this in
mind when deciding how large of a short position to take in this
stock.

Picked on December xth at $xx.xx <- see text
Results since picked:      +0.00
Earnings Date           11/26/02 (confirmed)




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

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

Tech Data Corp. - TECD - cls: 27.80 chg: -0.20 stop: 30.71

TECD just can't attract many buyers at these levels.  With shares
trading at relative lows and the daily chart showing no clear
support until $24.00, it seems that the bears are firmly in
control.  The stock showed relative weakness versus the NASDAQ on
Friday after trading under $28.00 for most of the session.  Could
$28.00 be another shelf of short-term resistance, just like
$28.50, $30.00, and $30.50?  It sure looks that way.  This short
play will be in good shape as long as TECD keeps stair-stepping
its way lower.  Today's intraday rebound from $26.72 makes
targeting new entries a little more difficult, but a rollover
from the $28.00-$28.50 area could yield a good shorting
opportunity.  Should TECD continue lower next week, conservative
traders may want to think about taking profits near $26.00.  In
light of the recent downtrend, we don't see why shares couldn't
eventually retest the October lows near $24.00.  The
PremierInvestor newsletter is currently up 5.7% on this play.  On
a broader tech sector note, today's lack of an appreciable
rebound on the positive INTC news should have the bulls very
concerned.

Picked on December 5th at $29.49
Results since picked:      +1.69
Earnings Date           11/25/02 (confirmed)






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

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

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

Tractor Supply Co. - TSCO - cls: 43.85 chg: -0.04 stop: *text*

More sideways action for TSCO.  Shares did a nice job of
rebounding from $42.00 on Friday morning but weren't able to
conquer short-term resistance in the $44.00 area.  With the RLX.X
retail index finishing almost unchanged, there was no sector
impetus to push TSCO higher.  Pulling up a 30-minute chart, we
see that the stock has traced a pattern of lower highs over the
past week.  That's not a good sign for the bulls.  On the other
hand, shareholders can be pleased that TSCO continues to hold
within a few points of its all-time highs.  Our outlook continues
to be for a rally to emerge if/when the broader market rebounds.
It definitely wasn't surprising to see the Dow Industrials pull
back this week after nearly two months of steady gains.  For the
time being we'll maintain our entry trigger at $45.51, but our
patience is growing thin.  We'll probably drop this play if TSCO
can't buck its short-term downtrend.

Picked on November xxth at $xx.xx <-- see text
Results since picked:       +0.00
Earnings Date            10/14/02 (confirmed)




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

American Intl. Group - AIG - cls: 60.49 chg: -0.66 stop: 65.51

An unexpected rise in unemployment numbers sent the market lower
on Friday morning.  AIG gapped down with the major indices and
opened below our entry trigger.  This short play was activated at
the initial trade of $60.80.  The stock remained rangebound
between $60.50 and $61.00 for most of the day before a late-
session breakdown took AIG to the $60.00 level.  Bulls will point
to the subsequent rebound as a positive sign, but we wouldn't
read too much into this successful test of support - It looked
like many short traders simply wanted to get flat before the
weekend.  Today's relative weakness versus the Dow Jones and
IUX.X Insurance index (which violated its 50-dma on an intraday
basis) bodes well for the bears.  The recent triple-bottom
breakdown on the p-n-f chart sure isn't going to inspire much
buying either.  New entries can be gauged on a move below $60.00.
We think AIG could quickly fall to the $55.00 area once this
level of support gives way.  Our stop is set at $65.51, twelve
cents above the 200-dma.

Picked on December 6th at $60.80
Results since picked:      +0.31
Earnings Date           10/24/02 (confirmed)




---

Deluxe Corp. - DLX - close: 43.81 change: +1.26 stop: 44.09

We initiated this play with a stop above the 200-dma, based on
the probability that any near-term rebound in DLX would peter out
below that moving average.  Now our expectations are being put to
the test.  DLX has had a distinct buy-side bias ever since it
bounced from the $41.00 level on Wednesday.  Shares showed
relative strength throughout today's session and finished with a
gain of nearly 3%.  The buying finally subsided just below short-
term resistance at $44.00, two cents under the declining 200-dma.
At this point it's hard to make a bearish case for DLX.  The
recent reversal has sent the oscillators higher, and today's
gains took the stock above its short-term descending channel.
We'd fully expect this play to be stopped out if the market shows
any kind of strength on Monday.  However, today's failure to move
above resistance suggests that the bears may offer a spirited
defense at the 200-dma.  A rollover from current levels would
give speculative traders an opportunity to add to short
positions, but not until DLX falls below intraday
support/resistance at $43.50.

Picked on December 4th at $41.28
Results since picked:      -2.53
Earnings Date           10/17/02 (confirmed)






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

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

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

Amerada Hess - AHC - close: 57.56 change: +0.37 stop: 56.25 *new*

We seem to be getting mixed signals on the strike in Venezuela,
one of the biggest oil producers in the world and a major
importer into the U.S.  Some are claiming the strike is over
while other say the civil unrest is heating up.  In addition to
troubles south of the border the oil sector is going to be
holding its breath as we approach a major deadline for the Iraqi
disarmament agreement this weekend.  On top of these two issues
OPEC is expected to meet next week as well.  With all of these
potentially price moving events the cost of oil didn't do much
today.  Light crude oil futures remain in their bullish trend but
the commodity has been consolidating sideways the last couple of
days.  Given the breakout witnessed in the OIX.X oil index today
one might suspect that Wall Street is looking for higher oil
prices in the future.  Shares of AHC continue to be a slow and
steady gainer.  We are now within 90 cents of our target price of
$58.50.  If shares of AHC trade this level or higher we'll close
the play.  More aggressive traders may want to only close half
their position and risk targeting a move to the $60 level for AHC
given the sector breakout in the OIX.  Keep in mind that the 50-
dma is now at $58.47, directly overhead.  Conservative traders
should already be scaling out of their positions and taking
profits or at least tightening their stops.  We're going to
tighten our stop to $56.25, which is just a few cents below the
rising 10-dma where AHC bounced a few days ago.  You've probably
heard a lot of talk about dividends and how companies are
offering or increasing their dividends to attract investors.  The
Board of Directors for AHC announced a dividend of 30-cents a
share recently.  The record date for shareholders is Dec. 16th
and the dividend will be paid on Jan. 3rd, 2003.  Despite the
breakout in the OIX, we would not be looking to add to new
positions in AHC at this time.  Look for another oil equity that
isn't quite so extended if you want to create new positions in
the sector.

Picked on November 12th at $52.41
Results since picked:       +5.15
Earnings Date            10/24/02 (confirmed)





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

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

ICOS Corp. - ICOS - close: 31.01 change: +0.51 stop: 28.72

Arrragh!!  Pardon our caveman-like exclamation, but we're awfully
frustrated by this morning's trading in ICOS.  The stock gapped
lower on news of a rival impotence drug's successful clinical
tests, but was safely above our stop-loss at the opening trade.
The stock then managed to bounce back above $30.00 and finish
with a solid gain.  Unfortunately this play didn't even make it
past the first minute of trading today.  A one-minute chart shows
a low of $27.47.  The following one-minute bar also shows a low
price under $28.00.  As far as we can tell these were not bad
ticks.  It's highly unusual to see such large spikes down over
the course of only a few minutes, but we must stick with our exit
strategy and drop ICOS at our stop-loss of $28.72.  Given the
quick move lower and rapid rebound that followed, it's likely
that many subscribers may have held on to long positions.  If you
do fall into this category, pull up a daily chart and admire the
bounce from $30.00.  That rebound is a positive sign going into
next week.  Traders still long should be looking for ICOS to
overtake the relative high of $32.72 and make its way towards
$35.00.  We'd be looking to scale out of bullish positions if the
stock moves back under $30.00.

Picked on November 22nd at $30.05
Results since picked:       -1.33
Earnings Date            11/05/02 (confirmed)







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

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

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

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

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

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


Copyright ) 2002  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter         Weekend Edition 12-06-2002
                                                   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 December 9th
   - 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 December 9th
=========================================

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

Symbol  Company               Date           Comment      EPS Est

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

ABS    Albertson's           Mon, Dec 9  Before the Bell      0.48
HOV    Hovnanian Ent, Inc.   Mon, Dec 9  -----N/A-----        1.45
IDT    IDT Corporation       Mon, Dec 9  After the Bell        N/A


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

None


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

ROP  Roper Industries        Wed, Dec 11  After the Bell      0.60
TOL  Toll Brothers           Wed, Dec 11  Before the Bell     0.89


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

ADBE  Adobe Systems          Thu, Dec 12  After the Bell      0.23
AZO  AutoZone                Thu, Dec 12  Before the Bell     0.95
CIEN  CIENA Corporation      Thu, Dec 12  Before the Bell    -0.17
COST  Costco Wholesale Corp  Thu, Dec 12  Before the Bell     0.31
FDS  FactSet Research Sys    Thu, Dec 12  Before the Bell     0.32
GTK  GTECH Holdings Corp.    Thu, Dec 12  Before the Bell     0.52
HNZ  H.J. Heinz Company      Thu, Dec 12  Before the Bell     0.58
MDZ  MDS Inc.                Thu, Dec 12  Before the Bell      N/A


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

PSO    Pearson plc           Fri, Dec 13  -----N/A-----        N/A


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

Symbol  Company Name              Ratio    Payable     Executable

JBLU    JetBlue                   3:2      Dec. 12th   Dec. 13th
CCFH    CCF Holding Co.           3:2      Dec. 19th   Dec. 20th


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

Corporate confession season continues with only two and a half
weeks left before Christmas.  Aside from the FOMC meeting on
Tuesday, most of the economic events and reports are scheduled
for Friday morning.

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

Monday, 12/09/02
----------------
None


Tuesday, 12/10/02
-----------------
Wholesale Inventories (DM)   Forecast:   0.2%  Previous:     0.5%
FOMC Meeting (DM)


Wednesday, 12/11/02
-------------------
None


Thursday, 12/12/02
------------------
Initial Claims (BB)   12/07  Forecast:   393K  Previous:     355K
Current Account (BB)     Q3  Forecast:-$135.0B Previous:  $130.0B
Retail Sales (BB)       Nov  Forecast:   0.3%  Previous:     0.0%
Retail Sales ex-auto(BB)Nov  Forecast:   0.2%  Previous:     0.7%
Export Prices ex-ag.(BB)Nov  Forecast:    N/A  Previous:     0.1%
Import Prices ex-oil(BB)Nov  Forecast:    N/A  Previous:    -0.1%
FOMC Minutes (DM)     11/06


Friday, 12/13/02
----------------
PPI (BB)                Nov  Forecast:   0.0%  Previous:     1.1%
Core PPI (BB)           Nov  Forecast:   0.0%  Previous:     0.5%
Business Inventories(BB)Oct  Forecast:   0.1%  Previous:     0.6%
Mich Sentiment-Prel.(BB)Dec  Forecast:   85.0  Previous:     84.2


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

HTRN    Healthtronics               8.78     +1.47
THX     Houston Exploration        33.55     +1.05
AMZ     American Medical Sec.      13.75     +0.85

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

WSTC    West Corp                  17.05     +1.05
EEFT    Euronet Worldwide           7.60     +1.04
MVIS    Microvision Inc             6.47     +1.04
OVTI    Omnivision Tech.           17.92     +1.92

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

IMDC    Inamed Corp                31.89     +1.91
ASA     ASA Ltd                    34.07     +1.19
NEM     Newmont Mining             26.77     +1.13
EAT     Brinker Intl.              31.54     +2.86
PLMD    Polymedica Corp            31.05     +1.53
AU      Anglogold Ltd              30.95     +1.40

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

SLAB    Silicon Labs               21.90     -2.31
ADVP    AdvancePCS                 23.99     -1.01
BARZ    Barra Inc                  30.95     -2.05
MNTR    Mentor Corp                40.48     -2.35
INFY    Infosys Tech.              68.52     -11.68

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

IMGC    Intermagnetics             20.67     -0.41
HIG     Hartford Financial         47.20     -0.57
PGC     Peapack-Gladstone          35.60     -0.70
RMK     Aramark Worldwide          22.45     -0.55




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