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Daily Newsletter, Wednesday, 12/18/2002

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PremierInvestor.net Newsletter              Wednesday 12-18-2002
                                                  section 1 of 2
Copyright ) 2002, All rights reserved.
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In section one:

Market Wrap:      Santa Has Left the Building
Watch List:       ATK, BSC, CAH, OIH, TXN, and more...
Play of the Day:  Red Ink Everywhere


******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
12-18-2002                High    Low     Volume Advance/Decl
DJIA     8447.35 - 88.04 8531.38 8407.72  1661 mln   344/1304
NASDAQ   1361.51 - 30.54 1380.63 1355.55  1498 mln   210/1277
S&P 100   452.78 -  5.82  458.60  450.73   totals    554/1581
S&P 500   891.12 - 11.87  902.99  887.82
RUS 2000  383.93 -  7.32  391.25  383.63
DJ TRANS 2305.71 - 37.67 2343.28  2299.09
VIX        31.75 +  1.59   32.33  30.89
VIXN       49.64 +  1.50   50.82  48.39
Put/Call Ratio 0.86
******************************************************************


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

Santa Has Left the Building
by Steven Price

Looks like Santa Claus left town and all he left us was the red
suit.  LOTS of red!  The broader markets sold off today,
following a slew of earnings disappointments and warnings, as
well as a spike in oil prices.  That feel good rally on Monday
turned out to be a head fake, as we once again retested Friday's
lows, failing that test before a mild rebound.  We have once
again fallen to a significant support level in several indices,
with the Dow and SPX re-testing support from late October/early
November and the Nasdaq flirting with its 50-dma for the first
time since late October.

The Dow fell through its 50-dma of 8471 to its 100-dma at 8411,
before getting a bounce, reinforcing the notion of support around
8400. While we got two bounces there today, neither of those
bounces were terribly powerful and the average finished down
88.04 points on the day. With quite a bit of support between 8200
and 8400, a move under 8400 could have us range bound once again,
albeit at a lower level.  However, if we are going to get the
traditional rally heading into the end of the year, then these
support levels would be a logical bounce point.

Chart of the Dow


It seems that each week brings news of a large bankruptcy and
today was no exception.  Insurance and financial services firm
Conseco filed for bankruptcy Tuesday evening and with $52 billion
in assets is the third largest filing in U.S. history.  The
bankruptcy includes the parent company, as well as Conseco
Finance and its consumer finance subsidiaries. Conseco's
insurance operations were not included in the filing. Conseco
Finance will be sold, but the company did not say how much it
would receive for the unit, but said the amount would be equal to
the amount of the unit's secured debt.  The bankruptcy has been
expected for months, but the filing only added weight to an
uncertain market. One of the problems that Conseco dealt with was
bad debt from its acquisition of Green Tree Financial, which
specialized in mobile home loans. Underperforming debt has been a
repeated mantra over the past year and made its way into the news
again today.

The Bank of New York (BK) warned that it would miss fourth
quarter earnings estimates due to exposure to the United Airlines
bankruptcy and the rest of the airline industry.  The company
said it is exposed to $761 million in leases to the industry,
with about $414 million related to major U.S. carriers.  BK said
it would take a charge of $240 million for the fourth quarter,
and it would also set aside  $390 million for problem loans.  The
stock dropped 15% and highlighted yet another problem area for
the banking area.  During the fall, we got a number of warnings
about under-performing business loans to the telecommunications,
energy and retail industries. That led to an industry slide and
now we are seeing a new factor.  While it may not surprise anyone
that airlines are having a tough time, investors may not have
planned on the effect it would have on its lenders. Many other
large banks also have exposure to the airlines, as well, and we
could be seeing the beginning of another round of warnings.
There have also been some recent warnings about loans in the
private banking sector (loans to high net worth individuals),
which have begun to underperform as individuals with formerly
high paying jobs in the tech sector have been unable to make good
on payments. It appears the banks are anything but out of the
woods, and if the rash of bankruptcies continues it could start
the snowball rolling downhill for lenders.

The big tech story came from Micron, which missed earnings after
the bell on Tuesday, and sent the Semiconductor Index (SOX)
crashing. The number two maker of memory chips said it would lose
52 cents a share, compared with analyst expectations of a 23-cent
loss.  Micron said this was partially due to a write-down of $91
million in inventory and a 12% drop in the average selling price
of its products.  The news was bad enough to send the SOX down 7%
and straight through support at the 50-dma, 100-dma and 300
level.  The sell-off just continued the hammering in a sector
that has seen a drop of 24% in just over two weeks. The SOX has
been leading the market and has been an excellent indicator of
overall demand in the chip sector. In fact, there was a JPM note
reported on CNBC this morning that said the SOX had been down
over 2.5% 55 times in the past year and on 53 of those days the
S&P 500 followed with a similar loss. The breakdown in support
here can't be a good sign.  After such a large recent loss, those
support levels would have been logical bounce points if it were
going to bounce.

Chart of the SOX


The one positive that could send us higher is the Oracle earnings
release after the bell.  ORCL beat profit estimates by two cents
and also beat revenue expectations by $100 million. The company
also said earnings for the current quarter would be in the 9-10
cent range, which was slightly higher than expectations for 9
cents. CEO Larry Ellison said the company's database business
started to grow again this quarter and CFO Jeff Henley said he
expects software spending to continue to improve, "We hope this
is the turn we have been assuming... We see people have worked
off lot of these excesses and see people start buying again." If
this turns out to be the case then a turnaround is certainly a
possibility, however, we are getting mixed signals from the
industry and it's clear that while some companies are seeing an
improvement, much of the tech industry is still suffering. I
think back to an interview I saw with Steve Jobs, CEO of Apple
Computer, who said last month that he keeps hearing the recovery
is 6 months off, but that he's been hearing it for 2 years and
still hasn't seen any real signs.

Another of the factors leading to today's sell-off was comments
from the White House that Iraq's declaration of its weapons
program fell short of the required full and complete accounting
and that Saddam Hussein may have blown his last chance. Even
Colin Powell, who has seemed to be the most reluctant member of
the presidential triumvirate said, "Our analysis of the Iraqi
declaration to this point, almost two weeks into the process this
weekend, shows problems with the declaration - gaps, omissions.
And all of this is troublesome... In my conversations with other
permanent members of the Security Council, I sense they also see
deficiencies in the declaration."  While it may not be a surprise
that the White House took a tough stance with the declaration, it
now seems that war is getting closer.  Officials said war was not
imminent, but the oil futures markets didn't seem to agree.
January Crude Oil Futures traded as high as $31.25 per barrel,
the highest level since November 2000.  This was also partially
due to the Venezuelan general strike, which has reduced that
country's exports from 3 million barrels a day to just 400,000.
Venezuela supplies about 15% of U.S. imports and the drop off has
led to a drop in U.S. domestic crude inventories. The price
increase has made its way into unleaded gasoline and heating oil
prices, which jumped by 2.58 cents per gallon and 1.58 cents per
gallon, respectively.  OPEC's recent agreement to curb quota
cheating indicates we won't be getting much relief from the
organization, as it feels the world oil market is becoming
flooded.  If prices stay close to $30, we can expect an effect on
the earnings of many companies, as is reflected in the chart
below.  It is not merely a coincidence that the last time oil
peaked in late September and early October we were in a market
swoon and the market rally from the middle of October to the
beginning of November took place as oil prices fell.  After oil
prices crept higher, the equity market gave one last gasp before
rolling over and heading toward current levels.

Chart of the Dow and Oil Futures


Now that we are once again testing pivotal levels, traders
looking to play a bounce need to keep an eye on a number of
markets.  I would expect some bounce from the Dow 8300-8400 level
heading into the end of the year, but if the techs are led lower
by the SOX, then we may not get that bounce.  The oil markets
reflect not only business costs, but also world events, which
contribute to market direction and should be kept on traders'
radar screens, as well.


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

Alliant Tech - ATK - close: 58.80 change: +1.65

WHAT TO WATCH: Defense stocks were bid higher today after the
White House rejected Iraq's arms declaration document.  This
seemingly increases the likelihood of a U.S. invasion.  ATK
powered ahead with a 2.8% gain and moved above its 50-dma on an
intraday basis.  The stock is within striking distance of
stubborn resistance near $60.00, but it'll first have to break
the multi-week trend of lower highs.  Traders can watch for a
move above $60.15 to clear the way for a possible rally to the
$64-$65 region.  The p-n-f chart shows bearish resistance at
$63.00, but this might not pose much of a challenge if the
defense sector continues to move higher.  Technical bulls can be
encouraged by the rising MACD and daily stochastics.




---

Bear Stearns - BSC - close: 62.45 change: +0.60

WHAT TO WATCH: Bear Stearns traded higher today after the company
reported fourth-quarter earnings that were 12 cents better than
analyst expectations.  Shares tested the 200-dma this morning and
then broke through short-term resistance at $62.00.  The strong
volume behind this move, combined with the rising oscillators,
indicates that BSC could extend today's breakout and rally
towards the relative highs near $66.50.  However, be aware of a
rollover from $64.50 - this would create the right shoulder of a
head-and-shoulders formation on the daily chart.




---

Cardinal Health - CAH - close: 59.57 change: -1.57

WHAT TO WATCH: Shares of Cardinal Health gave back 2.5% today
after the company announced that it had filed to sell $1 billion
in mixed securities.  Some have speculated that CAH intends to
buy out Syncor International (SCOR).  The company's filing lends
credence to that theory.  Wall Street may have a dim view of
buyouts and acquisitions in the health care sector, given the
group's recent problems.  Technically, we like CAH as a possible
short play because shares have broken through support at $60.00.
If the bears continue to pile on we'd be looking for shares to
retrace the July/August rally and move towards the $55.00 area.
Short entries could be targeted on a move below $59.40 or a
rollover from $60.00.




---

General Mills - GIS - close: 45.98 change: +1.09

WHAT TO WATCH: The past four sessions have given shareholders of
GIS a lot of cheer about.  The stock bounced from its 50-dma,
broke through the 200-dma, and moved above resistance at
$44.50...And that was all before Wednesday's 2.4% gain.  GIS
outperformed the market today after the company reported earnings
that bested analyst expectations by three cents.  Shares closed
just under solid resistance at $46.00.  The rising volume,
ascending stochastics, and newly-minted bullish MACD crossover
suggest that a breakout could be imminent.  Bullish positions can
be gauged on a move above $46.25.  This would put GIS in a "fast-
move" region created by the steep April sell-off.  Traders could
target a move to the $50.00 area, but remember that GIS is a
pretty slow mover.  It might take a month or more for shares to
achieve this objective.




---

Hershey Foods - HSY - close: 67.15 change: +1.19

WHAT TO WATCH: The daily chart for HSY shows a unique "island"
formation.  Shares gapped higher in July after Hershey announced
that it would put itself up for sale.  The stock then traded
above $71 for nearly two months before the company's board
reversed its stance and decided to maintain ownership.  This
created a second gap as the prospects of a takeover (at a
presumably higher price) melted away.  HSY has now started to
fill in the large "vacuum" region of unfilled gaps.  With no
overhead resistance, shares may be able to reach the $73 area.
Watch for a move above the 200-dma at $67.36 to provide a bullish
action point.




---

IDEC Pharmaceuticals - IDPH - close: 34.00 change: -0.39

WHAT TO WATCH: Deja vu!  IDPH may have dropped off our Play List
last night, but it didn't drop off our radar screen.  The stock
held up remarkably well after CRXA's competing cancer drug was
approved by the FDA on Tuesday evening.  Bear Stearns chimed in
and said that this development would be a short-term negative for
IDEC, but investors didn't seem to pay much attention to their
comments.  IDPH outpaced the BTK.X biotech index and finished
with a loss of 1.1%.  Bulls can be pleased that shares were able
to hold near the relative highs in spite of last night's news.
We continue to like IDPH as a possible bullish trade on a move
above $35.50.  A full-fledged breakout could lead to a test of
the 50-dma at $39.36.




---

3M Company - MMM - close: 120.86 change: -0.64

WHAT TO WATCH: Triple-M caught our attention last week after
shares fell below the 100-dma and 200-dma.  With the Dow drifting
lower over the past two days, shares have not been able to move
back above these moving averages.  MMM set a new relative low
today before mustering a small rebound from psychological support
at $120.  A breakdown below this level could send shares towards
the $110 level.  Bearish entries can be considered on a move
below today's low ($119.98), but be aware of possible support at
$116.




---

Oil Service HOLDRS - OIH - close: 58.70 change: -1.35

WHAT TO WATCH: On Monday's Watchlist we talked about the OIH as a
potential bullish play.  Since then, crude futures (cl03f) have
continued to rise.  The ongoing strike in Venezuela and President
Bush's rejection of the Iraqi arms declaration pushed oil to new
multi-month highs on Wednesday.  Interestingly, the OIH actually
moved lower by 2.2%.  A lot of this downward movement can be
attributed to Haliburton.  HAL sold off this afternoon after the
company announced a multi-billion dollar asbestos settlement.  If
the stock levels out on Thursday we'll be looking for the OIH to
rebound from its recent trend of higher lows (take a look at the
daily chart) and reclaim the 200-dma at $59.71.  More upside
action in oil futures could eventually send the OIH above
resistance in the $61.50-$61.80 area.




---

Texas Instruments - TXN - close: 16.28 change: -1.06

WHAT TO WATCH: Micron short-circuited the chip group after they
announced a wider-than-expected loss in last night's earnings
report.  The memory chip manufacturer's net loss of 52
cents/share was 29 cents worse than analyst expectations.  Ouch!
Investors reacted to this development by hammering MU for a loss
of more than 20%.  The SOX.X, which had previously been trading
in the 310-330 range, broke below its 50-dma (308) and plummeted
below support at 300.  This breakdown has opened the door for a
retest of the November lows near 280.  More sector weakness won't
be good news for shareholders of TXN.  The stock hit a new short-
term low today after breaking under its 50-dma ($16.77).  Shares
haven also fallen below bullish p-n-f support at $17.00.  The
next level of clearly-defined support on the bar chart is all the
way down at $14.00.





=========================
Play-of-the-Day (BEARISH tech play)
=========================

Lexmark Intl - LXK - close: 60.10 change: -3.24 stop: 62.56

Company Description:
Lexmark International, Inc. is a leading developer, manufacturer
and supplier of printing solutions -- including laser and inkjet
printers, multifunction products, associated supplies and
services -- for offices and homes in more than 150 countries.
Founded in 1991, Lexmark reported more than $4.1 billion in
revenue in 2001. (source: company press release)

- ORIGINAL WRITE UP: December 13th, 2002 -

Why We Like It:
Shares of Lexmark went on a tear in the aftermath of the
company's third-quarter earnings report, which beat analyst
expectations by 1 cent. What really got the stock flying was the
three-cent increase in expectations for Q4. Of course it didn't
hurt that the overall tech sector was also rocketing higher after
the NASDAQ bottomed out in mid-October. From its own October low
to the relative high of $69.50, LXK tacked on an impressive 58%.
These gains were so impressive, in fact, that some on Wall Street
are questioning whether the stock's price has outstripped its
intrinsic value. During a blanket downgrade of the entire
computer hardware sector on December 4th, Morgan Stanley singled
out LXK (along with IBM) for trading at "substantial premiums" to
fundamental valuation levels. Investors seemed to pay a lot of
attention to MWD's comments. Shares sold off from the relative
highs and spent most of the past week trading under short-term
resistance at $65.00.

The stock gapped lower this morning in response to a report that
indicated that the printer market in Europe (along with the
Middle East and Africa) had declined by 4.6% in the third
quarter. Shares managed an intraday rebound from the 50-dma at
$60.00, but weren't able to fill in the gap and move back above
previous support at $63.00. The large volume spike (more than
twice the daily average) indicates that a large amount of
investors were eager to head for the exits. We expect the
downward momentum to accelerate if LXK breaks below $60.00. In
addition to violating the 50-dma, this would create a triple-
bottom sell signal on the point-and-figure chart. Because there
are no clearly-defined support levels directly under the 50-dma,
we think a breakdown could send shares down to the 200-dma
($55.16) in fairly short order. Our official profit-target will
be placed slightly above this level at $55.26. We may re-adjust
this target later on to compensate for the rising action of the
200-dma. We're placing an entry trigger for this paper trade at
$59.97. If the play is triggered our stop will be placed at
$62.56, slightly above today's high. Traders willing to give LXK
a little more room to move may want to use a stop just above
$63.00.

- Most recent update: December 17th, 2002 -

Did LXK put in a short-term bottom last Friday when it bounced
from its 50-dma? That just might be the case. Monday's action
wasn't particularly strong, as shares traded in a very tight 64-
cent range and underperformed the NASDAQ. Today's session,
however, was more palatable for the bulls. LXK traded strong from
the get-go and quickly filled in Friday morning's gap. It wasn't
until the stock reached the $64.00 area that the bears finally
asserted themselves. Shares face additional resistance at $65.00.
If shares continue higher we may modify our entry strategy in
order to take advantage of a rollover from this level. A breakout
above $65.00 would probably lead us to close this inactive play.
For the time being we'll maintain our entry trigger at $59.97.
LXK still looks like it could really get hammered if support at
$60.00 gives way, but the bears are going to have to prove
themselves first.

- Play-of-the-Day Comments: December 18th, 2002 -

Shareholders of LXK saw the past three days of gains go up in
smoke today after the European Parliament said that companies
such as Lexmark could not force consumers to buy their own-brand
printer ink refills.  That's a pretty big blow to an industry
that makes more than $1.5 billion in annual sales of printer
cartridges.  The decision will effectively reduce Lexmark's
revenue in Europe.  Beginning in 2006, consumers in Europe will
be able to find cheaper, non-brand alternatives for ink cartridge
replacements.  Not surprisingly, investors were quite displeased
with this news from across the pond.  LXK reached our entry
trigger of $59.97 after shares sliced through support at $60.00.
The selling pressure subsided after the first 90 minutes, but
shares were dragged lower again during the final two hours of
trading.  Bears can be encouraged that today's 5.1% decline came
on the second-largest volume in almost six weeks.  Our stop-loss
is set at $62.56.  Those with a more aggressive strategy could
use a stop slightly above Tuesday's high of $64.10. Keep in mind
that we'll close this play if shares trade at or below our
profit-target at $55.26.  New entries can be evaluated on a move
under today's low of $59.70.

Picked on December 18th at $59.97
Results since picked:       -0.13
Earnings Date            10/21/02 (confirmed)







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DISCLAIMER
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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
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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 12-18-2002
                                                   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:

Net Bulls
  Triggered Plays:        LXK  (bearish)

Stock Bottom / Active Trader
  Triggered Plays:        COST (bearish)

Split Trader Stock Splits
  Split Announcements:
                         HITK:  3-for-2 Split Announcement

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)


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

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

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

Lexmark Intl - LXK - close: 60.10 change: -3.24 stop: 62.56

Shareholders of LXK saw the past three days of gains go up in
smoke today after the European Parliament said that companies
such as Lexmark could not force consumers to buy their own-brand
printer ink refills.  That's a pretty big blow to an industry
that makes more than $1.5 billion in annual sales of printer
cartridges.  The decision will effectively reduce Lexmark's
revenue in Europe.  Beginning in 2006, consumers in Europe will
be able to find cheaper, non-brand alternatives for ink cartridge
replacements.  Not surprisingly, investors were quite displeased
with this news from across the pond.  LXK reached our entry
trigger of $59.97 after shares sliced through support at $60.00.
The selling pressure subsided after the first 90 minutes, but
shares were dragged lower again during the final two hours of
trading.  Bears can be encouraged that today's 5.1% decline came
on the second-largest volume in almost six weeks.  Our stop-loss
is set at $62.56.  Those with a more aggressive strategy could
use a stop slightly above Tuesday's high of $64.10. Keep in mind
that we'll close this play if shares trade at or below our
profit-target at $55.26.  New entries can be evaluated on a move
under today's low of $59.70.






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

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

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

Costco Wholesale - COST - cls: 27.52 chg: -0.19 stop: 30.51

It didn't take long for this short play to be activated.  COST
moved lower with the broader market on Wednesday morning and hit
our entry trigger ($27.56) within the first 5 minutes of trading.
Shares traded to an intraday low of $27.26 before gravitating
back towards the $27.50 area for the rest of the session.  New
entries can be considered on a move under today's low or on
another rollover near $28.00.  Our stop is located at $30.51.






=================================================================
Split Trader Stock Splits (ST) section
=================================================================

Split Announcements
-------------------

Hi-Tech Pharmacal Sets 3-for-2 Stock Split

Shortly after the market opened this morning, Hi-Tech Pharmacal
(NASDAQ: HITK) announced that its Board of Directors had declared
a 3-for-2 stock split.

The split will be distributed on January 17, 2003 to stockholders
of record on December 30, 2002.

FDA approval of two of Hi-Tech's generic drugs in September and
October helped to lift the stock from the $10.00 area.  HITK hit a
new all-time high yesterday, but looks more than a little extended
after gaining more than 45% from last week's low.  Traders looking
to play a split run may want to wait for a pullback to prior
resistance at $20.00.

Shares closed at $23.97 on Tuesday.  For a current quote, click
here:

http://user.financialcontent.com/pin1/quote.cgi?account=pin1&ticker=HITK

About the company
Hi-Tech is a specialty pharmaceutical company developing,
manufacturing and marketing branded and generic prescription and
OTC products for the general healthcare industry. The Company
specializes in difficult to manufacture liquid and semi-solid
dosage forms and produces a range of sterile ophthalmic, otic and
inhalation products. (source: company press release)


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

BSC     Bear Stearns               62.45     +0.60
PNW     Pinnacle West Capital      33.60     +1.34
KB      Kookmin Bank               38.96     +1.21

---------------------------------------
Breakout to Upside (Stocks $5 to $20)
---------------------------------------
Ticker  Company Name               Close     Change
TVX     TVX Gold                   14.85     +1.27
USNA    Usana Health Science       11.56     +1.51

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

GIS     General Mills              45.98     +1.09
CAKE    Cheesecake Factory         36.97     +2.04
MEDI    Medimmune Inc              27.70     +2.71
APOL    Apollo Group               43.58     +2.74
BMET    Biomet Inc                 29.10     +1.18
-------------------------------------------
Breakout to Downside (Stocks over $20)
-------------------------------------------
Ticker  Company Name               Close     Change

PII     Polaris Industries         57.10     -2.11
BVF     Biovail Corp               25.65     -2.40
MCO     Moody's Corp               40.21     -1.07
BKS     Barnes & Noble             21.37     -1.18
KMI     Kinder Morgan              41.40     -1.25
MAN     Manpower Inc               31.80     -1.36
EON     E.On ADS                   41.67     -2.22
LOGI    Logitech Intl              31.56     -2.42

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

CPG     Chelsea Property Group     34.51     -0.36
CBL     CLB & Assoc.               39.30     -0.40




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