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Daily Newsletter, Monday, 01/27/2003

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PremierInvestor.net Newsletter                 Monday 01-27-2003
                                                  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:      Same Story, Same Result
Watch List:       AZO, BRCM, DIA, SBC, and more...
Play of the Day:  To the Contrary


******************************************************************
MARKET WRAP  (view in courier font for table alignment)
******************************************************************
01-27-2003                  High    Low     Volume Advance/Decl
DJIA     7989.56 -  141.45  8150.34 7957.82   1693 mln  178/1501
NASDAQ   1325.27 -   16.87  1349.83 1320.32   1412 mln  352/1048
S&P 100   429.47 -   6.67   437.93  427.03    totals    530/2549
S&P 500   847.48 -   13.92  863.95  844.25
RUS 2000  368.58 -   6.48   375.06  368.25
DJ TRANS 2144.01 -  19.32  2188.58 2140.40
VIX        39.77 +   4.00    40.89   36.71
VIXN       46.59 +   1.54    47.50   45.24
Put/Call Ratio 1.02
******************************************************************

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

Same Story, Same Result
by Steven Price

Geo-political events played out pretty much as expected today and
last week's pre-emptive sell-off continued. The U.N. weapons
inspection report from Hans Blix essentially said that Iraq had
not cooperated as far as giving information on chemical,
biological and conventional weapons that the inspectors know
exist. While there was has been no smoking gun found thus far,
the U.S. seized the opportunity to up the rhetoric ahead of the
President's State of the Union address Tuesday.  Blix said that
"Iraq appears not to have come to a genuine acceptance, not even
today, of the disarmament which was demanded of it and which it
needs to carry out to win the confidence of the world and to live
in peace."  U.S. Ambassador to the UN John Negroponte said Iraq
was back to business as usual and that it had not cooperated in
the active manner required by UN resolution 1441.  White House
spokesman Ari Fleischer took it a step further, saying that
incomplete cooperation was no cooperation. If one thing was clear
by morning's end, it was that the U.S. was preparing to go the
route of invasion and was simply waiting for something to hang
its hat on.

The statements from the U.S. got the markets rolling downhill,
sending them through last week's lows and even breaking into the
7000s, as the Dow broke 8000 to the downside on a closing basis
for the first time since October 15, 2002.  The head and
shoulders pattern that appeared to be forming over the last few
months finally saw a neckline break last Friday.  In fact, the
breakdown came in much the same way as the one we saw last
September. Back then, we got a quick sell-off over just a few
days, a mild one-day bounce and then a decisive rollover to the
measuring objective of the pattern.  So far, we are seeing the
same thing, with the one-day bounce on Thursday and the continued
rollover through the neckline on Friday.  The circumstances are
different this time around, with the Iraq data due out this week,
but back in the summer we witnessed similar war concerns.  Does
that mean we will fulfill the measuring objective of the pattern
down to 7500?  It means nothing has occurred yet to deter that
possibility.  Of course, that's easy to say before several days
of economic reports, earnings and political events that could all
turn the tide.

Chart of the Dow


In the coming week, we will get a State of the Union address from
President Bush, in which he is likely to highlight his case
against Iraq, using the recent weapons report to supplement
earlier arguments; we'll get the UN debate on the issue beginning
on Wednesday; we'll get Consumer Confidence, Durable goods, New
Home Sales, GDP, Personal Income, Personal Spending, FOMC meeting
and PMI.  With all of this economic data swirling around the Iraq
debate, certainly anything can happen.  A look at the charts
shows the recent sell-off has us in very oversold conditions,
which would seem to indicate a bounce at some point.  However, we
saw similar conditions on the last breakdown, as well and the
bounce was a long time coming.  The possibility that the Iraq
news was basically figured into the markets also remains and if
we were going to finally get a bounce off the big sell-off, the
round number of 8000seemed a reasonable point for that bounce. We
tend to stair step down, rather than just plummet and the last
few days have been a pretty strong plummet, with a loss of 800
Dow points in eight trading sessions. If we look at the shorter-
term charts, however, we have been seeing some stair stepping,
which will give us an idea of when we can assume we are seeing a
bounce.  Those stairs, or intraday resistance levels to keep an
eye on in the Dow are 8600, 8400, 8175 and 8040.  If we begin to
take out these intraday levels, it will throw up the first
signals that we are seeing at least a short term intraday bounce.

30 minute chart of the Dow



While the Dow, SPX and OEX all took out their December 31, 2002
lows on Friday, the Nasdaq Composite and NDX actually held above
those levels. If there were going to be a bounce in the broader
markets, those December 31 lows of 1335 (1327 intraday) in the
COMP and 984 (977 intraday) in the NDX, certainly appeared as
though they would be logical points from which to bounce.  The
COMP did not hold at that level, taking out the relative low and
closing at 1325, ten points below the Dec. 31 close and even
below the intraday low.  The NDX, however, held just above that
level, finishing the day at 986.

Chart of the COMP


Chart of the NDX



The chip stocks, which have led the tech indices in recent
months, gave up additional ground, with the Semiconductor Index
(SOX) falling another 4 points today.  More importantly, though,
the index fell through yet another recent support level and the
most significant level from which we could have expected a bounce
before entering a vacuum that appears as though it could lead to
a re-test of October lows in the low 200s.

Chart of the SOX



The retail sector, as represented by the S&P Retail Index
(RLX.X), also has sunk to a new 52-week closing low.  With
Consumer Confidence and Consumer Sentiment reports due out this
week, we may be seeing a foreshadowing of what traders are
expecting.  As we head closer to war, fuel costs remain high, and
payrolls remain on the low end, these consumer surveys will give
us an indication of just how willing consumers will be to spend.
Stocks such as Wal-Mart (WMT), Target (TGT) and Kohl's (KSS)
continued their slide ahead of those reports, indicating low
expectations for Consumer Confidence, which is due out Tuesday
and Consumer Sentiment, which comes out Friday.

Chart of the RLX


Although I've painted a somewhat bleak picture so far, bulls can
take solace in the action in the bond markets.  Bonds have proved
to be a reliable contra-indicator to equities.  Today's sell-off
should have been confirmed with buying action in the treasuries.
That did not happen. Instead we saw selling in the bond market.
One theory offered by bears is that money is finding its way out
of U.S. dollar denominated assets, which include U.S. bonds, as
well as equities.  Certainly the tremendous slide the dollar has
been on would back up this theory.  The dollar actually held
steady today, finishing the session unchanged.  In any case, the
bearish confirmation that has been reliable in the past did not
surface today. That could indicate that the sell-off really had
little to do with an allocation out of stocks and into
treasuries, but rather simply on war fears that kept money out of
the market.

We did make several intraday rebound attempts, but each failed
and in the end we closed under significant support levels in the
Dow at 8000, SPX at 850, OEX at 430 and COMP at 1335.  The trend
was down before war fears took over Friday and Monday and it
remains down. Bullish percents are in full retreat in the major
indices, indicating a reversal in sentiment from prior
bullishness to start the year.  We are likely to see more extreme
reactions as the week goes forward, but until we see a trend
reversal, the bears are still in charge.


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

Autozone - AZO - close: 58.61 change: -2.22

WHAT TO WATCH:  Okay, we'll admit that AZO is already looking
oversold.  But unfortunately for shareholders, there's no
indication that the selling will abate anytime soon.  Shares have
just fallen to 52-week lows after breaking support at $60.00.
With this hurdle successfully cleared, the bears may be able to
take AZO down to the $48-$50 area, which is the next level of
support on the weekly chart.  Aggressive short entries can be
targeted on a failed rally near $60.00.  A rollover from the
$63.00 area might also yield an action point if the stock pops
higher on short-covering.




---

Broadcom Corp. - BRCM - close: 14.16 change: -0.95

WHAT TO WATCH: Shares of BRCM continued to move sharply lower
today, following last week's resignation of the company's CEO.
Brokerages responded to this development with concerns about a
"leadership vacuum" and poor employee moral.  Employees holding
the company's stock certainly don't have much to cheer about.
The stock has lost more than a quarter of its value since it
rolled over from $20.00 earlier this month.  Today's 6.2% decline
took BRCM below support at $15.00, which roughly coincided with
the 100-dma.  This move also created a triple-bottom sell signal
on the p-n-f chart.  With the SOX.X continue to bleed lower, it
looks like BRCM might make it down to the $11-$12 area.  Short
positions could be evaluated on a failed rally near $15.00 or on
a move under today's low of $13.92.  Either entry would require
an aggressive high-risk/high-reward trading strategy.




---

Delta Airlines - DAL - close: 9.86 change: -0.54

WHAT TO WATCH: Poor earnings from Northwest Airlines (NWAC) and
awful forward-looking comments from sector leader AMR pushed the
XAL.X airline index sharply lower last week.  Although the sector
has already weathered some heavy selling, continued weakness in
the broader market could send the XAL.X down to its next level of
support at 27.00.  Delta is displaying a similar technical
picture; near-term oversold but trading well above the next level
of solid support.  Today's breakdown below $10.00 could open the
door to an eventual retest of the $7.00-$8.00 region.  Aggressive
traders might want to watch for entries on a move under the late-
October low at $9.66.  A failed rally back to $10.80 could also
provide a bearish action point.  FYI, Delta is presenting at a JP
Morgan conference tomorrow morning.




---

Diamonds Trust - DIA - close: 80.15 change: -1.25

WHAT TO WATCH: The Dow Jones has given back nearly 10% over the
past eight sessions.  The bears will be looking for even more
downside now that the index has closed below 8000.  Much of the
recent losses have been attributed to concerns over the looming
war with Iraq.  Uncertainty surrounding the situation increased
today when U.N. gave its weapons report.  As worrisome as the
situation is, the market looks very oversold and may rebound if
President Bush takes a less aggressive stance in the State of the
Union address on Tuesday night.  One possibility is that he could
agree to extend the deadline for weapons inspections by a few
months.  While this wouldn't necessarily be a positive
development for the market in the long-run, the major indices
might get a short-term bounce if it looks like the chance of war
has diminished.  With this in mind, speculative traders could
consider going long the Diamonds on Wednesday if the Dow Jones
moves back above 8000.  We'd be looking to capture a quick bounce
back to the 100-dma at 8372.




---

Newmont Mining - NEM - close: 29.43 change: -0.72

WHAT TO WATCH: In spite of more weakness in the equity market on
Monday, the XAU.X gold/silver index actually posted a hefty 3.1%
decline.  Profit-taking seemed to be the order of the day after
four consecutive positive sessions.  But with the Iraq situation
looking more uncertain than ever, it's easy to see how gold could
resume its uptrend.  We like NEM as a possible bullish play if
the sector does continue higher.  The stock is trading near the
multi-month high of $30.60.  A move above this level could lead
to a test of the 52-week high at $32.75.  While that's not a
whole lot of upside, we wouldn't rule out an eventual rally to
the $35.00 area.  A trade at $31.00 would create a double-top buy
signal on the p-n-f chart.  Note that Newmont announces earnings
on February 5th.




---

PMI Group - PMI - close: 27.99 change: -0.88

WHAT TO WATCH: PMI looks a lot like the IUX.X insurance index.
It's already been hit for some large losses over the past weak,
but with no clear underlying support the bears may continue to
have their way.  PMI showed relative weakness on Monday with a
3.0% decline.  This move, which came on the strongest volume in
over a month, took the stock below short-term support at $28.75
and also produced a double-bottom sell signal on the point-and-
figure chart.  Shares have entered a fast-move region that was
created by the sharp mid-October gains.  This isn't encouraging
technical action ahead of tomorrow morning's earnings report.
Assuming shares don't gap sharply lower and PMI doesn't offer an
upside surprise, aggressive traders could think about bearish
entries at current levels.  The lows for the month near $25.00
would present a reasonable short-term profit target.




---

SBC Communications - SBC - close: 24.85 change: +0.31

WHAT TO WATCH: Here's another possible play for all you
contrarians.  Last week SBC moved sharply lower after both T and
BLS released abysmal earnings reports.  AT&T's earnings miss in
particular really spooked telecom investors.  UBS Warburg came to
the sector's defense today when they upgraded SBC, BLS, and VZ.
The firm said that the recent sell-off has eliminated much of the
short-term downside risk.  These comments helped SBC to
outperform the market.  The daily chart shows that shares are
slightly above support at $24.00.  This level put a floor under
SBC in late-October and November.  SBC also happens to be trading
at its bullish support trend on the p-n-f chart.  Given the rapid
nature of the recent decline, it seems likely that short-covering
might help the stock to move back to its 50-dma at $27.23.  A
positive reaction to the company's earnings report tomorrow
morning might provide the impetus for such a move.  Aggressive
short-term traders could target entries at current levels (once
the dust settles), using a stop slightly below $24.00.





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

Xilinx Inc - XLNX - close: 20.43 change: -0.43 stop: *text*

Company Description:
Xilinx, Inc. is the worldwide leader of programmable logic and
programmable system solutions. (source: company press release)

Why We Like It:
No doubt about it...this is an aggressive, speculative play.  It
takes a real contrarian approach to be thinking about going long
in the current market environment.  The latest performance by the
major equities doesn't inspire much bullish confidence.
Following last week's sharp losses, the Dow Jones and NASDAQ
continued to drift lower on Monday.  The latter index, however,
is looking a lot stronger on a technical basis.  The NASDAQ is
trading just above the 50% retracement level from the October
lows to December highs.  This is also the location of the mid-
November lows.  Furthermore, the Composite has continued its
pattern of relative strength versus the Dow.  The NASDAQ lost
only 34 points last week while the Dow gave back a hefty 455
points.  On Monday the NASDAQ declined by 1.7%; nearly a half-
percentage point better than the Industrials.

For it's part, the semiconductor index has managed to avoid a
breakdown below the 278-280 support region.  The SOX.X has given
back almost 20% since it topped out near 350 on January 13th.
Could an oversold bounce be just around the corner?  We think
chances are good, but the bulls will first have to overcome their
geo-political concerns.  If President Bush soothes investors with
his State of the Union address on Tuesday by backing off his
recent hawkish stance the market might finally be able to bounce
back.  We're adding Xilinx as a way to take advantage of such a
rebound.  Much like the SOX.X, XLNX has suffered some very heavy
selling recently - shares are down 22% from the relative highs.
What's intriguing is the fact that shares are resting just above
support at $20.00.  This level, which is bolstered by the 100-
dma, helped to put a floor under XLNX in December.  The
oscillators are offering conflicting signals, with the MACD on a
bearish crossover and daily stochastics (5,3,3) beginning to
uptrend from extreme overbought levels.  The p-n-f chart is in a
column of O's but has not yet given a sell signal.  Overall we
think XLNX offers a favorable risk/reward ratio at current
levels.  Our objective will be to ride a short-covering bounce to
the descending 200-dma at $23.92.  Less aggressive traders may
want to target the 50-dma at $22.50.  Because we want to see some
confirmation of buying interest, we won't enter this paper trade
until shares move above today's high of $20.90.  If triggered,
we'll use a stop at $19.49.  This gives us a small cushion in the
event that support is broken.  Those looking for less downside
risk could use a stop a few pennies below $20.00.  Some traders
may also want to wait to see how the market reacts to Bush's
speech before considering long entries.

Picked on January xxth at $xx.xx <- see text
Results since picked:      +0.00
Earnings Date           01/21/03 (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

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Copyright ) 2003  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter                  Monday 01-27-2003
                                                   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:

Net Bulls
  Closed Bullish Plays:  BBH

Stock Bottom / Active Trader
  Triggered Plays:       JWN (bearish)
  Closed Bullish Plays:  BSX, CI
  Closed Bearish Plays:  CTAS

High Risk/Reward
  New Bullish Plays:     XLNX


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

===============
NB Closed Plays
===============

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

Biotech HOLDRS - BBH - close: 87.62 change: -1.92 stop: 86.94

Our long play in the Biotech HOLDRS started off auspiciously
enough when shares moved above resistance at $92.00 and reached
new multi-month highs.  Unfortunately the stock wasn't able to
shake the broader market's losing ways.  Following Friday's
violation of the $90.00 support level, the BBH gapped lower this
morning and immediately violated both its 21-day and 50-day
moving averages.  It wasn't until shares reached the descending
200-dma at $86.79 that the selling finally abated.  While the
subsequent rebound from this level is a potential positive sign
for the bulls, we parted ways with the BBH when shares traded at
$86.94.  Our play was closed for a loss of 5.6%.  Those who are
still holding long positions should now be maintaining a stop-
loss slightly below the 200-dma.  It's possible that the stock
may have put in a short-term bottom, but the bulls will face a
very difficult task if the overall market continues to drift lower.

Picked on January 16th at $92.12
Results since picked:      -5.18
Earnings Date                N/A






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

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

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

Nordstrom Inc - JWN - close: 18.08 change: -0.11 stop: 19.06

JWN reached our action trigger of $17.98 shortly after the
opening bell on Monday morning.  Shares gravitated towards the
$18.00 area for most of the session before finishing with a
fractional loss.  The stock showed relative strength versus the
RLX.X retail index, indicating the bulls will not easily abandon
support.  More market weakness, however, could send JWN towards
its October lows.  New entries can be evaluated on a move under
today's low of $17.87.  Our stop is set at $19.06.

Picked on January 27th at $17.98
Results since picked:      -0.10
Earnings Date           02/20/03 (confirmed)





===============
AT Closed Plays
===============

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

Boston Scientific - BSX - cls: 41.70 chg: -2.07 stop: 43.11

Shares of BSX gapped lower on Monday morning.  Given the lack of
apparent company-specific news (and also in competitor Johnson &
Johnson), it appears that shares fell victim to the early-morning
weakness in the equity market.  Our short play was stopped out at
the opening trade of $42.65 for a hypothetical loss of $1.36, or 3.0%.
By the end of the session shares had fallen into the
$41.50-$42.00 support region on relatively strong volume of 4.3
million shares.  While this area might help the bulls to find
their footing tomorrow, the p-n-f reversal and declining MACD are
technical indications that BSX could be in store for further
weakness.  The daily stochastics have already reached oversold
levels, but if the market keeps dropping it might take positive
news out of the Piper Jaffray conference later this week (BSX
presents on Thursday) to halt the current decline.

Picked on December 20th at $44.01
Results since picked:       -1.36
Earnings Date            02/04/03 (confirmed)




---

Cigna Corp. - CI - close: 42.25 change: -1.25 stop: 42.94

Based on Friday's breakdown out of an Inside Day formation, we'd
given CI a pretty short leash with a 4.5% stop-loss at $42.94.
This level was quickly violated on Monday morning as the broader
market extended last week's losses.  CI traded with a bearish
bias for the entire session, ultimately finishing at the lows of
the day.  Shares posted a 2.8% loss and underperformed both the
Dow Jones and the IUX.X insurance index.  CI also closed below
the 50-dma ($42.31) and produced a three-box reversal on the
point-and-figure chart.  These aren't encouraging technical
developments for the bulls.  The stock is now several points away
from moving back into the October 25th gap and looks to be headed
for a test of support in the $41.00 region.

Picked on January 14th at $45.01
Results since picked:      -2.07
Earnings Date           02/07/03 (confirmed)




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

Cintas Corp. - CTAS - close: 41.69 change: +0.29 stop: 42.27

The profit-taking in CTAS this morning was fast and furious.  After
taking nearly 18% off the stock's value over the past eight sessions,
the bears had gotten their fill.  On Friday we aimed to protect at 4.9%
gain by moving our stop down to $42.27.  This level was violated
shortly after the opening bell.  CTAS finished the session well off the
best levels of the day but still managed to post a gain.  Meanwhile,
both the Dow Jones and NASDAQ finished solidly in the red.  That
relative strength is a sign that the latest downtrend may have run its
course.  This outlook is supported by the daily stochastics, which are
beginning to head higher from oversold levels.  Although additional
market weakness could drag CTAS to new relative lows, the $39-$40
support region should minimize downside movement.  Traders still
holding short positions may want to watch for another move down to
$41.00 to offer an exit point.

Picked on January 17th at $44.49
Results since picked:      +2.80
Earnings Date:          12/19/02 (confirmed)






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

============
HR New Plays
============

  -----------------
  New Bullish Plays
  -----------------

Xilinx Inc - XLNX - close: 20.43 change: -0.43 stop: *text*

Company Description:
Xilinx, Inc. is the worldwide leader of programmable logic and
programmable system solutions. (source: company press release)

Why We Like It:
No doubt about it...this is an aggressive, speculative play.  It
takes a real contrarian approach to be thinking about going long
in the current market environment.  The latest performance by the
major equities doesn't inspire much bullish confidence.
Following last week's sharp losses, the Dow Jones and NASDAQ
continued to drift lower on Monday.  The latter index, however,
is looking a lot stronger on a technical basis.  The NASDAQ is
trading just above the 50% retracement level from the October
lows to December highs.  This is also the location of the mid-
November lows.  Furthermore, the Composite has continued its
pattern of relative strength versus the Dow.  The NASDAQ lost
only 34 points last week while the Dow gave back a hefty 455
points.  On Monday the NASDAQ declined by 1.7%; nearly a half-
percentage point better than the Industrials.

For it's part, the semiconductor index has managed to avoid a
breakdown below the 278-280 support region.  The SOX.X has given
back almost 20% since it topped out near 350 on January 13th.
Could an oversold bounce be just around the corner?  We think
chances are good, but the bulls will first have to overcome their
geo-political concerns.  If President Bush soothes investors with
his State of the Union address on Tuesday by backing off his
recent hawkish stance the market might finally be able to bounce
back.  We're adding Xilinx as a way to take advantage of such a
rebound.  Much like the SOX.X, XLNX has suffered some very heavy
selling recently - shares are down 22% from the relative highs.
What's intriguing is the fact that shares are resting just above
support at $20.00.  This level, which is bolstered by the 100-
dma, helped to put a floor under XLNX in December.  The
oscillators are offering conflicting signals, with the MACD on a
bearish crossover and daily stochastics (5,3,3) beginning to
uptrend from extreme overbought levels.  The p-n-f chart is in a
column of O's but has not yet given a sell signal.  Overall we
think XLNX offers a favorable risk/reward ratio at current
levels.  Our objective will be to ride a short-covering bounce to
the descending 200-dma at $23.92.  Less aggressive traders may
want to target the 50-dma at $22.50.  Because we want to see some
confirmation of buying interest, we won't enter this paper trade
until shares move above today's high of $20.90.  If triggered,
we'll use a stop at $19.49.  This gives us a small cushion in the
event that support is broken.  Those looking for less downside
risk could use a stop a few pennies below $20.00.  Some traders
may also want to wait to see how the market reacts to Bush's
speech before considering long entries.

Picked on January xxth at $xx.xx <- see text
Results since picked:      +0.00
Earnings Date           01/21/03 (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
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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.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

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