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Daily Newsletter, Monday, 01/06/2003

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PremierInvestor.net Newsletter                 Monday 01-06-2003
                                                  section 1 of 2
Copyright ) 2003, 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:      Dividend Play
Watch List:       D, EBAY, GUC, MSFT, QLGC, and more...
Play of the Day:  Multi-Year Highs


******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
01-06-2003                   High    Low     Volume Advance/Decl
DJIA     8773.57 +  171.88  8800.59 8602.10   1698 mln  1369/316
NASDAQ   1421.32 +  34.24  1428.65  1390.09   1528 mln  1262/249
S&P 100   469.74 +  10.54   471.41  459.20    totals    2631/565
S&P 500   929.01 +  20.42   931.77  903.07
RUS 2000  397.00 +   6.69   397.77  390.31
DJ TRANS 2421.71 +  56.77   2425.83 2365.02
VIX        27.41 -   0.57    27.76   26.45
VIXN       43.45 -   2.26    46.91   43.45
Put/Call Ratio 0.67
******************************************************************


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

Dividend Play
by Steven Price

The January effect still remains in tact, with the markets
exploding for another leg up today.  The big market mover was the
release of the President's economic stimulus plan, which turned
out to be twice as much as previously expected.  The plan now
calls for elimination of tax on all dividends, instead of the
previously planned 50% reduction. This translates into $600
billion of relief over 10 years, instead of $300 billion and had
investors scooping stocks that pay significant dividends. The
President's plan, along with a new beginning of the year in-flow
to mutual funds appeared to get the ball rolling and on a day
without significant volume, there was little to stop it.

That action was enough to lift the markets, in spite of a worse
than expected ISM services report that came in almost two points
below predictions (54.7 versus 56.6).  An ISM reading over 50
still shows an expansion in the services sector.  The growth rate
slowed in December, but backlog was up 1.1%, so expansion should
continue into the near future.   After the ISM manufacturing
index expanded more than expected in the last reading on
Thursday, investors shrugged off this report, instead focusing on
the Bush plan.

The other economic news came from the Challenger report that
showed a drop in layoffs from November to December. Companies
said they would cut 92,900 jobs and while that number is still
high, with an annual rate of 1.46 million, it is nevertheless a
41% improvement from November when the number was 157,508.

We have now rallied 531 Dow points off the December low of 8242
and traders are undoubtedly wondering whether this is simply a
blow-off rally before another leg down to lower lows, or whether
we are really headed toward a breakout to new highs.  We did see
a number of technical resistance levels fall today, as the SPX
headed high enough to take out the September and November highs
at 925.  That is significant in that shorts at those levels would
have been overcome on an intraday basis.  However, the Dow and
OEX have yet to break those highs in the 8800 and 472 range.  If
traders looking to enter short are picking a top, failure in all
three averages would have been more reassuring.  From a bull's
perspective, there is still resistance to overcome, with a big
resistance level looming above at the August/December highs.
Those December highs sit at Dow 9077/SPX 954/OEX 487.94.

Today's high in the Dow came at 8800 and bears will point out the
possible formation of a bearish head and shoulders formation. If
that is the case, we could be seeing a very big drop in the near
future.  However, before we start piling on short, it would be
nice to see some evidence of a rally failure.  While we saw
failures at resistance today, we also saw resistance failures on
Friday and wound up 2% higher on the day today.  The fact that
the SPX took out the resistance that would have coincided with a
right shoulder in the Dow at 8800 is also a red flag for bears,
as noted above. Right now we are seeing a series of higher highs
and higher lows, but the rally is extreme and looks
unsustainable.  While some type of pullback is due, we have to
ask what it will mean if it comes above Dow 8600.  In that case
we may simply be seeing a higher low after Friday's late day
bounce from 8550.  That doesn't mean that we shouldn't go short
on a breakdown from this level, waiting for a neckline all the
way down at Dow 8200, but tight trailing stops are prudent to
avoid a bounce from a higher low. Most after-hours announcements
were positive and we could see another gap open in the morning.

Chart of the Dow


Chart of the SPX



The Tech indices also saw a big rally today blowing through
previous resistance levels and running into others.  The Nasdaq
Composite (COMP) took out resistance at 1400 like it didn't exist
and the Semiconductor Index (SOX.X) ran through its 50-dma of 318
and horizontal resistance at 330.   After reaching an intraday
high of 335, it fell back to close above that resistance at 331,
indicating we may now see support at that level. Chip equipment
stocks jumped after Deutsche Bank upgraded the sector to BUY,
saying that multiple delivery and order pull-ins would lead to
quarterly growth of 15% to 20% versus than expectations of flat
to 10 percent growth. The next level of resistance in the NASDAQ
is 1426, which it broke on an intraday basis and put a cap on the
index back in August.  The COMP reached a high of 1428 intraday,
before falling into the close to finish at 1421.33. The last time
we broke through that 1426 level on the way up, the COMP didn't
stop until it hit the December high of 1521.  Of course the
previous time it hit that level and failed to hold, we saw a
sell-off of 100 points in the COMP. We are likely to see a
continued rally in the COMP again tomorrow, following comments
from storage giant EMC. The company pre-announced better than
expected earnings for the fourth quarter, saying it expects a
profit of $0.01-$0.02 per share, versus previous expectations of
a loss of $0.02.  It said customer spending was better than
expected and revenues would come in above $1.47 billion, versus
previous expectations of $1.27 billion.

Chart of the NASDAQ Composite


Chart of the SOX



The rally that follows a big news event, such as today's change
in the dividend tax-cut plan, certainly would seem to indicate a
short opportunity.  However, this news event was one with direct
stock market implications.  Dividends suddenly got potentially
much larger, as they could become tax-free vehicles, making stock
investments more profitable and most likely bringing more 401(k)
dollars back into the equity market. The other benefit to
shareholders is that if companies are not taxed on dollars put
into dividends, there will be a bigger incentive for cash-rich
companies such as Cisco (with $21 billion in cash) to begin
paying a dividend. That kind of potential could actually give a
rally some legs. However, the Democrats have a plan of their own
and it calls for tax incentives of far less than the $600 billion
proposed by Bush. This is far different than an announcement
regarding Iraq, which has shorter-term implications and the
market may continue to react to developments in the negotiations
between the two sides. One thing was clear from today's action,
however, and that is that the stakes just went in stockholder's
favor.  If the President is going to start bargaining from a
lower tax level, then the middle ground is likely to end up
closer to a financial boon for bulls.

The Democrats outlined their plan this afternoon, which was a far
more conservative economic stimulus plan at a cost of $136
billion and focused on a one-year economic boost.  The democratic
plan said nothing about dividend tax relief and instead focused
on tax-rebates to individuals, extension of unemployment benefits
and investment depreciation acceleration for businesses.
Representative John Spratt said it was about helping the economy,
not the stock market. The depreciation acceleration is also a
part of the Bush plan.  After the democratic statement, the
markets hardly budged, apparently on the assumption that a
President controlling both houses of Congress was the one dealing
from a position of strength.  The GOP was listening however, and
said it would offer an extension of jobless benefits on Tuesday.

Another factor figuring into today's rally is the price of oil.
After OPEC President Abdullah al-Attiyah said Sunday that the
group would use its production power to keep the price of oil
within its targeted range of $22-$28 per barrel, in response to
the supply shortfall resulting from the Venezuelan strike.
Venezuela is world's fifth largest oil exporter and the six week
general strike has reduced exports from that country to 500,000
barrels per day, from an average of 2.7 barrels. The drop in
Venezuelan oil has caused a 9 million barrel drop in U.S. crude
oil inventories, reducing domestic supplies to near 26-year lows.
"An increase could be anywhere between 500,000 barrels per day
(bpd) to one million. It will depend on consultations," Attiyah
said Crude Oil futures dropped  almost a dollar  per barrel and
fueled stocks as the news signaled lower costs for almost all
businesses. A look at the chart of Crude Oil futures has shown an
inverse relationship to equities, as it reflected both operating
costs and world events.  If we get a continued sell-off in oil
prices at the same time stocks can break out above
August/December highs, then there may be hope that this bounce is
the start of something bigger.

We have now reached yet another crucial level in the broader
indices.  If the Dow and COMP both break above the resistance
levels highlighted above, then we may see a re-test of the
December highs.  There is more room for the techs to go before
hitting those levels, so tech longs may have more room to run on
a breakout in the Dow.   Traders can watch to see if we get
another leg up on the open through resistance tomorrow.  If that
is the case, then traders can either hop on the speeding train
for a short ride to those December highs, or get out of the way
if they are looking to enter short.


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

Dominion Resources - D - close: 58.62 change: +2.92

WHAT TO WATCH: Reports that President Bush would call for the
elimination of taxes on stock dividends sent the major indices
soaring to short-term highs on Monday.  Utility stocks, which
typically offer large dividends, responded especially well to
this news.  The UTY.X utility index shot higher by 4.4% and
closed at levels not seen since September.  This sector strength
pushed D above its 200-dma at $57.74.  Should the stock remain
above this moving average, there isn't much overhead resistance
to prevent a rally to the $62-$64 area.  However, D is usually a
pretty slow mover and today's steep gains were the exception to
the rule.  We'd expect the stock to revert to its more gradual
uptrending pattern that has been intact for the past two months.
Long entries could be considered on a pullback to the 200-dma.




---

eBay Inc - EBAY - close: 72.96 change: +3.03

WHAT TO WATCH: We'd be remiss if we didn't mention EBAY.  The
stock broke to the upside today after trading under resistance at
$70.00 for several weeks.  This 4.3% rally, which created a
triple-top buy signal on the p-n-f chart, also took shares above
the 2001 high of $72.74.  Pulling back to the weekly chart we see
that the next area of resistance is the mid-2000 highs near
$77.00.  The bullish MACD crossover and p-n-f breakout indicate
that this level might be tested in the near future.  Longer-term
bulls might be aiming for the bullish vertical count of $91.  But
in light of the steep gains today, we think the best strategy for
entering long positions would entail waiting for a pullback to
$70.00.




---

Gucci Group - GUC - close: 92.90 change: +1.07

WHAT TO WATCH: Shares of Gucci moved slightly lower in early
December after the company announced that weak pre-Christmas
sales would result in lower-than-expected earnings.  The company
met these reduced expectations when it announced Q3 earnings on
December 19th.  Judging by how the stock has traded since then,
investors seem to believe all the bad news is already out of the
way.  Shares moved higher towards the end of the year before
leveling out below short-term resistance at $92.00.  Today's
trading saw GUC tack on 1.1% and move above that mark.  With
shares sitting at multi-month highs, the bulls may be able to
muster a retest of the 52-week highs near $99.  Note, however,
that GUC tends to be a slow mover.  If shares were to continue in
the recent uptrend it would still take about a month to reach the
52-week highs.




---

Phillip Morris - MO - close: 39.51 change: -0.29

WHAT TO WATCH: Big MO was one of only three Dow components to
finish with a loss on Monday.  The source of this relative
weakness was a note from Solomon Smith Barney, who said that
there is a good chance that Phillip Morris will announce an
aggressive price-cutting program for its largest four brands.
While the steep market gains helped shares to recover from the
intraday low of $37.77, the rally lost momentum once the morning
gap was filled.  MO faces overhead resistance at its 50-dma
($40.25) and its p-n-f chart has reversed into a column of "O's."
The oscillators are giving conflicting signals, with the MACD
showing a bearish crossover while the daily stochastics (5,3,3)
begin to rise from the oversold region.  Overall it looks like MO
could resume its downward journey if the Dow begins to retrace
today's rally.  Watch for a rollover from the $40.00-$40.25 area
to provide a bearish action point.




---

Microsoft - MSFT - close: 54.75 change: +0.96

WHAT TO WATCH: Shareholders of MSFT got a scare last week when
the stock briefly traded below its 200-dma at $52.15.  However, a
test of support at $51.00 is the best the bears could muster.
MSFT has since traded nicely higher with the Dow and NASDAQ.
Today's 1.7% gain put the stock above its 50-dma ($54.81) on an
intraday basis and reversed the p-n-f chart into a column of X's.
What's particularly interesting about this move is the fact that
shares also cleared resistance at $55.00.  This level had stymied
the bulls on mutliple rally attempts in December.  The next area
of noteworthy resistance is up at the multi-month highs near
$59.00.  Although shares look a little extended on a short-term
basis, there's no reason why MSFT couldn't continue higher if the
market keeps up its winning ways.  We'd be looking to enter long
positions on a move above today's high of $55.23.




---

PeopleSoft - PSFT - close: 20.04 change: +1.04

WHAT TO WATCH: PSFT grabbed our attention last week when it began
to form the right shoulder of a head-and-shoulders formation.
This bearish pattern was rendered obsolete by the recent gains,
which have come in tandem with a sharp rally in the GSO.X
software index.  The technical picture saw a significant
improvement today when shares closed above $20.00 for the first
time since November.  The steadily rising volume and bullish
daily stochastics (5,3,3) might portend a retest of the November
highs near $22.00.  Long entries could be evaluated at current
levels, but be aware of possible resistance at $20.50.




---

SLM Corp. - SLM - close: 107.56 change: +2.03

WHAT TO WATCH: Today's broader market strength helped shares of
Sallie Mae break through resistance at $107 and rally to an all-
time high of 108.40.  The bullish catapult buy signal on the p-n-
f chart, along with the rising oscillators, indicates that this
breakout might have staying power.  Long entries could be gauged
on a move above today's high or on a pullback to the $107.00 area.
In terms of upside potential, the p-n-f bullish vertical
count of $120 offers a reasonable target for short-term traders.
SLM announces earnings on January 16th.




---

QLogic Corp. - QLGC - close: 40.13 change: +2.36

WHAT TO WATCH: Semiconductor bears have been broadsided by the
past three days of gains in the SOX.X; the index has rallied
roughly 15% off of last Thursday's lows!  Today's 5.5% move took
the SOX.X above both its 50-dma (318) and resistance at 330.
This breakout has cleared the way for a possible rally to the
200-dma at 377.  Of course nothing goes up in a straight line and
the sector may be overdue for some profit-taking.  If a pullback
does take place, we'd be looking for the SOX.X to find support at
the 315-318 area.  This would probably lead to a similar pullback
in shares of QLogic.  QLGC is looking strong after moving above
its converging 50-day and 200-day moving averages near $39.00,
which also acted as resistance in December.  Technical bulls can
be pleased with the rising volume, MACD crossover, and bear trap
alert on the point-and-figure chart.  The daily chart shows no
heavy resistance until the $44-$45 region.  Watch for a pullback
to $39.00 to yield a bullish action point.  We also noticed that
IRF (International Rectifier) looks like a good long play in the
chip sector.





=========================
Play-of-the-Day (BULLISH non-tech play)
=========================

Boston Scientific - BSX - close: 44.67 change: +0.87 stop: 40.99

Company Description:
Boston Scientific is a worldwide developer, manufacturer and
marketer of medical devices whose products are used in a broad
range of interventional medical specialties. (source: company
press release)

- ORIGINAL WRITE UP: December 19th, 2002 -

Why We Like It:
A glance at the daily chart for BSX reveals that investors have
had an insatiable appetitive for shares of this medical device
company. What's driving the stock higher? The current uptrend can
be traced back to early-October, when a federal judge ruled
against Guidant (GDT) in a case involving drug-coated heart
stents. Guidant is competing with Boston Scientific to bring the
lucrative gizmos to market. The judge's ruling significantly
delayed GDT's research, effectively leaving BSX and JNJ as the
only major players. Meanwhile, BSX has moved ever-closer to FDA
approval of its own stents. On November 18th the company reported
that its TAXUS IV product had shown positive results in a safety
study. More positive news arrived nine days later, when Guidant's
appeal of the previous decision fell flat. This second ruling
helped to propel the stock to new 52-week highs. Technically, we
like how BSX has bounced back after pulling back to the bottom of
its ascending regression channel. The stock showed good relative
strength today and closed at levels not seen since 1999. The
rising volume and MACD (which is poised to give a bullish
crossover) bode well for a continuation of the existing uptrend.
In terms of upside potential, we'll be aiming for a rally to the
$50.00 level. Shorter-term traders may want to target a move to
the all-time highs near $47.00. Our entry trigger for this play
will be set at $44.01. If shares reach this level our stop will
be located at $40.99, just below the December lows. This creates
a risk/reward ratio of roughly 1:2. Those with slightly more
conservative strategy could use a stop just below $41.50.

- Last Update: January 3rd, 2003 -

The drug-coated stent market has been narrowed to just two
players: Boston Scientific and Johnson & Johnson. Guidant (GDT),
already reeling from a negative court decision in October, was
dealt another blow on Thursday night when the company said that a
clinical trial of privately-held Cook Group's stent had failed to
yield desired results. This prompted GDT to cancel its plans to
acquire Cook, effectively delaying the release of its drug-coated
stent until at least 2005. BSX and JNJ will now be able to duke
it out without having to worry about a sudden resurgence from
Guidant. While today's news didn't come as a huge surprise,
investors nonetheless responded by bidding BSX higher by 1.8%.
The stock is now within striking distance of its multi-year high
at $44.30. This is a very encouraging development. Shares have
successfully tested support at $42.00, and the recent reversal
has the oscillators moving higher once again. Bulls can also be
pleased with the steadily increasing volume. Going forward, we'll
be watching for a breakout to take BSX to the $47-$50 region. New
entries can be targeted on a move above $44.30.

- Play-of-the-Day Comments: January 6th, 2003 -

We had high hopes for this play after last week's strong
performance, and today's action didn't disappoint.  BSX moved
higher in tandem with the Dow Jones, broke above resistance at
$44.25, and pegged a new multi-year high.  The stock finished
with a gain of 1.9% and outpaced the DRG.X pharmaceutical index
by a full percentage point.  Although shares have covered a
decent amount of ground over the past three days, the daily
stochastics have additional room to move before they reach
overbought levels.  We're also pleased to see that the MACD is
started to curl higher.  A bullish crossover could be forthcoming
very soon.  If the broader market continues to move higher we'd
expect BSX to move towards our target area of $50.00.  Shorter-
term traders may want to target a move to the 1999 highs near
$47.00.  New entries can be targeted on a move above today's high
($44.69) or a pullback to $44.00.

Picked on December 20th at $44.01
Results since picked:       +0.66
Earnings Date            10/22/02 (confirmed)







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

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

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

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

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

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


Copyright ) 2003  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter                  Monday 01-06-2003
                                                   section 2 of 2
Copyright ) 2003, All rights reserved.
Redistribution in any form is strictly prohibited.

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

In section two:

Split Trader/Stock Splits
  Stop Adjustments:      FRX (bullish)

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)



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

===============
ST Play Updates
===============

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

Forest Labs - FRX - cls: 105.59 chg: -0.48 stop: 104.79 *new*

In response to Friday's large upward gap, we collared FRX with a
tight trading range by using a stop at $103.99 and an exit target
at $108.00.  As it turns out neither one of these levels was hit
during today's session.  FRX traded an Inside Day and finished
with a small loss.  The DRG.X pharmaceutical index, on the other
hand, moved higher by nearly 1.0%.  This relative weakness
suggests that perhaps the bulls were a little exhausted after
Friday's gains.  In any case, the 2-for-1 split is approaching
and we're going to exit this play before that occurs.  Some
traders may want to keep a partial position open.   If shares do
not reach our profit-target or our stop-loss during tomorrow's
session we'll be closing all of our hypothetical long position as
of Tuesday's final trade.  Note that we've bumped our stop up to
$104.79 in order to protect a slightly larger gain.





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

EP      El Paso Corp                8.34     +0.60
BMY     Bristol-Myers Squibb       25.27     +0.52
EDS     Electronic Data Systems    20.08     +0.58
ICPT    Intercept Inc              18.91     +1.20
AEP     American Electric Power    30.50     +1.75
PNW     Pinnacle West Capital      37.06     +1.75
SCSS    Select Comfort Corp        10.80     +0.60

---------------------------------------
Breakout to Upside (Stocks $5 to $20)
---------------------------------------
Ticker  Company Name               Close     Change
SEPR    Sepracor Inc               12.24     +1.99
NBTY    NBTY Inc                   19.21     +1.57
NTES    Netease.com                15.26     +2.12
GSOF    Group 1 Software           15.12     +1.41

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

ROL     Rollins Inc                28.21     +1.73
EK      Eastman Kodak              38.67     +1.24
EBAY    Ebay Inc                   73.00     +3.07
GUC     Gucci Group                92.90     +1.07
JPM     JP Morgan                  27.98     +2.04
TTC     Toro Co                    67.25     +3.92
TMX     Telefonos De Mexico        33.98     +1.03
TOT     Total Fina                 74.90     +2.63
UOPX    Univ. of Phoenix Online    39.30     +1.22
FBF     FleetBoston Financial      27.46     +1.65

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

EXPE    Expedia Inc                63.97     -6.93
AAP     Advance Auto Parts         45.94     -3.13

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

RECN    RSCS Connection            21.30     -0.70




=================================================================
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 ) 2003  PremierInvestor.net. and
The Premier Investor Network.
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DISCLAIMER

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

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Littleton, CO 80163

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