PremierInvestor.net Newsletter Monday 02-24-2003 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: U.S. Hits the Accelerator Watch List: CTAS, EK, KSS, SMH, V, and more... Play of the Day: Sharpening Their Claws ****************************************************************** MARKET WRAP (view in courier font for table alignment) ****************************************************************** 02-24-2003 High Low Volume Advance/Decl DJIA 7858.24 - 159.87 8017.34 7851.11 1455 mln 274/1175 NASDAQ 1322.38 - 26.64 1343.09 1321.44 1197 mln 286/877 S&P 100 421.47 - 8.40 429.87 421.17 totals 560/2052 S&P 500 832.58 - 15.59 848.17 832.16 RUS 2000 358.22 - 6.14 364.36 357.90 DJ TRANS 2017.69 - 78.72 2095.82 2013.01 VIX 36.77 + 2.63 36.78 35.43 VIXN 44.88 - 1.22 46.84 44.58 Put/Call Ratio 0.85 ****************************************************************** =========== Market Wrap =========== U.S. Hits the Accelerator by Steven Price It is getting more and more difficult to decide just how much world events are weighing on the markets and just how much economics are figuring in. Friday's wild intraday swings were no doubt due to international developments. However, today's drop may have been either a look back at Thursday's poor economic numbers or a result of the U.S. apparently setting a timetable on war. Colin Powell said in a speech in Japan on Sunday that the U.S. wants a U.N. Security Council vote after Weapons Inspection Chief Hans Blix gives his report on March 7. On Friday, Blix asked Iraq to destroy Al-Samoud 2 missiles by March 1. The order was the result of the missile's range exceeding limits set by the U.N. in 1991 and 1994 and Iraq said it was studying the order. Blix also said in a Time Magazine interview that the country had yet to account for its stocks of VX nerve agent and Anthrax. The U.S. and Britain introduced a new U.N. resolution on Iraq that is believed to declare the country in "material breach" of resolution 1441 and basically says Iraq blew their last chance. It does not go so far as to authorize military force, but appears to set the tone for such action if/when the U.S. and Britain decide to move in. The resolution is a risky proposition, since there is anything but a consensus on the use of force at this time, but if nothing else the U.S. can say it tried to get a coalition before making its own decision. France, Germany and Russia are submitting their own resolution which will likely call for more inspections. Conspiracy theorists will suggest the U.S. would not be introducing the resolution unless it was fairly sure it would eventually get a favorable vote. Right now, it only has 4 of 13 votes and it will take some pressure to swing the pendulum. It needs 9 votes and no vetoes for it to pass, however, the latest resolution may simply be an attempt at window dressing a decision that has already been made. CNBC reported today that Dan Rather had held an exclusive radio interview with Saddam Hussein, in which Hussein said he would not destroy the missiles, as Blix has requested and he challenged President Bush to a radio debate. While the White House has already responded that the issue with Iraq is about weapons, not debates, I suppose it is possible Hussein is laying the groundwork for a U.S. presidential run in 2004, since it is unlikely he will still be running Iraq at that time (GRIN). Chart of the Dow Turkey is also a step closer to allowing the U.S. to launch strikes against Iraq from within the country. I suggested last week that once it came down to a matter of dollars, at some point it would be worked out. Turkey's stated concerns about the economic impact of war in the region were really just a bargaining chip, but a hollow one since the country would likely suffer those effects whether the U.S. launches attacks from its turf or elsewhere. The Turkish cabinet has already approved the latest U.S. aid package and a Parliament vote could come tomorrow. All of the war talk is not doing much for the aerospace/defense sectors. The Defense Index (DFI.X) continues to set new 52-week lows and is just about the ugliest sector chart I've seen recently. Whether this is due to predictions of a short war not having much impact on these stocks bottom line, or whether it is a reflection that they were overbought on war jitters to begin with, they look anything but bullish. It is hard to imagine anything creating a rally at this point, if they haven't moved higher as we head closer to a deadline for an invasion. The DFI is now down 20% since January 6 and looks like it has fallen off a succession of cliffs. Chart of the DFI The chip stocks actually showed some decent relative strength today. It is hard to say what is holding up the sector, but with a poor book-to-bill already released and a severe warning from AMAT already figured in, apparently the picture wasn't as bad as many institutions were expecting. This morning Cisco announced that its new Compatible Extensions wireless chip technology will be adopted by chipmakers Intel, Texas Instruments and Intersil. CSCO is offering free licenses to include the technology on chips and IBM and Hewlett Packard have already agreed to support the technology. This seems to be the lone impetus for the bullish hold in the sector, but the more important part of today's action is possibly that it has held onto last week's gains, while the rest of the market has been bouncing around the last few days. It did eventually succumb to market wide weakness, but spent much of the day in the green, before losing less than a point on the day. This strength should be a red flag for bears, as the tech indices will likely hold some of the recent gains as long as the chip stocks do. If it does begin to roll over, however, with resistance just above at the 300 level, we may be seeing a short entry point. No sign of weakness yet, however. We did see one vote of non-confidence from J.P. Morgan, which downgraded equipment maker Cymer, saying it saw diminishing prospects for lithography demand acceleration in the second half of 2003. Morgan said the next two to three quarters exhibit above average risk for the company. Those traders following the point and figure charts can note a development that doesn't show up on today's charts. On Friday, the SPX, which had been on a strong reversal higher in a column of "X," rolled over back down into a sell signal. The rollover, however, came on the drop that followed the terrorism scare after the explosion on Staten Island. As soon as that scare was over and it became evident that it was an accident, we quickly reversed direction and headed higher. That reversal called into question the bearish reversal signal we saw, as charts are incapable of taking into account world events. This morning, however, we got some confirmation of that reversal. While we failed to trade as low as we did on Friday in the SPX, we still traded down below that reversal at 835, confirming the bearish signal. Point and Figure Chart of the SPX The Dow reversed lower on the PnF chart last Thursday when it traded down to 7900. The big intraday rally on Friday actually failed to reverse that signal back up into a column of "X" and today's move back below 7900 also seems to confirm that bearishness from these levels. The Dow did set another intraday lower low, ticking a few points below Friday morning's low, but bouncing again off 7850 (low of 7851). The OEX also reversed its bullish column of "X" back into a bearish column of "O" after topping out at 430 on Friday and breaking below the 422.50 level today. We have been watching this index on a 2.5-point box, which more closely mirrors the activity in the Dow and SPX. Those Dow theorists watching the transports for confirmation of the moves we are seeing in the broader markets will not that the TRAN has not only fallen below its February low, but it now also testing its October lows. Dow Theory holds that any move in the Dow must be confirmed by a move in the transports (although it actually started years ago with the Rails Index), before determining a true trend. Higher fuel costs continue to weigh on the transports and led to a downgrade of several trucking stocks. Bear Stearns lowered its ratings on trucking stocks CVTI, HTLD, JBHT, KNGT, SWFT and WERN, saying that the group underperformed at the beginning of the last Gulf War, when oil prices jumped from $23 to $41 per barrel. We are seeing the affect of higher fuel prices across the board, not just on the transports. We have heard from numerous companies that they have had to adjust their earnings expectations due to these costs and both the consumer and producer price indexes released last week showed fuel prices as the highest contributor to inflation. Natural gas prices continue to surge, jumping an amazing 21% in a single day today; heating oil hit an all-time high today; and crude oil futures were on the rise once again, adding almost $1 per barrel on the April contract to close at $36.52 per barrel. Chart of the TRAN Traders will also note the Market Volatility Index (VIX), which bounced back above the 35% level that had served as support in the recent past and had indicated market pullbacks. We closed below that level on Friday, and it appears it was not as reliable as it had been recently. However, it did bounce above the last false breakdown signal (contrarian to stocks), which came on February 3 and also was followed by a drop in equities. The next resistance level and the one that has signaled intraday and daily equity bounces is 40% and with the VIX sitting at 36.77, it appears that we have room to fall before this indicator signals support for the OEX. In contrast, however, the VXN, which measures implied volatility levels of the NDX, actually fell in spite of the drop in stocks and failed to confirm the move higher in the VIX. The retail sector got some mixed news today, as Lowe's (LOW) not only beat earnings expectations, but raised its full-year guidance. The company said the raised guidance was due to its plans to expand into New York and other large cities, many of which are currently dominated by Home Depot (HD). On the negative side, Federated and J.C. Penney both warned on February same store sales results. The companies both blamed bad weather on the east coast for keeping shoppers at home. Federated said its sales would drop 7-8%, approximately double previous estimates. JCP had said its sales would be flat, but now says they will be down 2-3%. Wal-Mart didn't suffer quite as badly, but said its sales would track at the low end of the previous 2- 4% guidance. The RLX reversed Friday's gains, finishing down 2% on the day. With most retail earnings reports just behind us, we will be judging the market based on these weekly and monthly sales results and so far they are not promising. While so far they have been blamed on the weather, which is a valid excuse due to much of the terrible east coast snowstorm, it will be interesting if those sales make up for the loss on the positive side, or if these are simply lost profits. Given the current state of the economy, based on last week's jobs data, I actually believe the increase in job losses may be partly responsible for the drop in sales, as well as the weather, and the losses will be at least partly unrecoverable. Used car prices have now dropped to a five-year low. This is mostly due to a combination of the economy and the deals that have been offered on new cars. While those new cars have been flying off the lots, the pressure on used car prices affects dealers and manufacturers bottom lines on more than one front. First and most obvious is the margins on the used car lots, which often outstrip the profits on new cars. But maybe more significantly, the residual values that are figured into the price of a lease are affected. Dealers figure lease payments partially by what they can sell a car for when the lease is done and if that value drops after the lease is written, it cuts into the expected profits. One of the catalysts for sending most of the techs lower (with the aforementioned exception of the SOX), was a comment from Thomas Weisel regarding Oracle's earnings projections. Oracle CFO Jeff Henley said he expected the February quarter to show slightly positive revenue, although he qualified the projection, saying they'd have to wait and see. This morning, Weisel said its channel checks suggested the February quarter still hinges on the final two weeks of the month and expressed caution in the environment. Today it once again looked like the bounce we saw last week was just a temporary reprieve on the way down. However, it seems that each wrap I write carries a different tone than the day before. The news that the U.S. was pressing the accelerator no doubt had some affect on the market. If we get news that there will be resistance to the U.S. resolution and more favorable treatment for that of Russia, France and Germany, we may see another move higher tomorrow - the theory being that there will be another delay in U.S. action. There is also the thought that multilateral action is better for the markets than unilateral action, as it may prevent foreigners from pulling money out of U.S. assets. It is still very tough to predict the next day's move. The PnF reversals back down indicate the next move is lower, but I am still not willing to bet the house on it. Stick to risk capital only and make sure your stops are set in accordance with a risk profile that makes you comfortable. After all, being able to sleep at night will always hold its value. ================================================================== 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 --------------------------------- Cintas Corp. - CTAS - close: 32.11 change: -1.19 WHAT TO WATCH: Shares of CTAS gapped below the $38.00 support level last Monday after the company announced an earnings warning. Citing hiring freezes and work-force reductions by its major customers, Cintas slashed their 2003 earnings expectations to $1.43-$1.50 per share. The analyst consensus was $1.55 a share. The resulting breakdown has led to some rapid losses in the company's stock. Over the past three sessions the stock has stabilized above $32.00 while continuing to trace a trend of lower highs. A breakdown below this level might give aggressive traders a bearish entry point. Other than psychological support at $30.00, there is little to prevent the bears from taking CTAS down to the 1999/2000 lows near $25.00. --- Eastman Kodak - EK - close: 29.34 change: -0.68 WHAT TO WATCH: EK displayed surprising strength after it bottomed out near $25.00 in October. Shares trended sharply higher in the following months and reached a 52-week high of $41.08. But in this case, what went up...quickly came down. EK saw heavy selling in the second half of January after the company missed earnings and guided lower for 2003. The stock then spent a few weeks gravitating towards the $30.00 area. Unfortunately for shareholders the technical picture worsened today when the stock fell out of its recent trading range and violated support at $29.50. This breakdown has raised the possibility that EK may retrace the remainder of its rapid October gains and move down to the $25-$26 region. Short entries could be targeted on a move below bullish p-n-f support at $29.00. --- Kohls Corp. - KSS - close: 47.90 change: -3.54 WHAT TO WATCH: When it rains, it pours. Just ask retail investors. The entire sector was pressured today by a trifecta of bearish news from some major players within the group. Both Federated and JC Penney reduced their February same-store sales expectations, saying that the recent bad whether in the Northeastern U.S. had kept many potential customers at home. WMT left its February forecast unchanged but also said the sales were under pressure and tracking at the low end of expectations. These developments hit KSS particularly hard. The stock was slammed for a 6.8% loss that took shares below support at $50.00. Bears will now be licking their chops in anticipation of a decline to the October low of $44.00. This would be a reasonable downside target for short-term traders, who could set up an acceptable risk/reward strategy by using a stop-loss slightly above $50.00. Watch for a breakdown under today's low ($47.78) to yield a possible bearish action point. Conservative traders will probably want to wait for a failed rally back to the $50.00 area before thinking about going short. --- Procter & Gamble - PG - close: 82.89 change: -1.35 WHAT TO WATCH: In recent months PG has proven to be quite resilient, with the stock consistently bouncing back after it reached relative lows. However, there's no arguing with the steady downtrend that has taken PG down from the December highs near $88.00. What's also interesting is the fact that shares have repeatedly rolled over from the descending 21-dma at $84.30. Friday's failed rally at that moving average was followed up with a 1.6% pullback on Monday. A continuation of the long-term downtrend would lead to a test of support at $82.00 and the multi-month low at $81.55. If a breakdown does occur there's plenty of downside potential, with a large fast-move region extending down to the July lows near $75.00. --- Semiconductor HOLDRS - SMH - close: 22.84 change: -0.20 WHAT TO WATCH: The chip group showed good relative strength on Monday. In spite of a 1.9% sell-off in the NASDAQ, the SOX.X held firm and posted only a fractional loss. This outperformance appears to have partially stemmed from news that CSCO had struck a deal with several semiconductor companies (including INTC and TXN) to adopt their new wireless chip technology. Positive sector sentiment allowed the SOX.X to extend its recent pattern of higher highs and higher lows. However, with overhead resistance at 298 (location of the converging 50-dma and 100-dma) and 300, the bullish trend might soon be coming to an end. We like the SMH as a possible short play if the SOX.X rolls over from current levels. Watch for a move below $22.40 or $22.21 (last week's low) to set the stage for a retest of support near $20.50. The stock's p-n-f chart is showing a triple-bottom sell signal. --- Southwest Airlines - LUV - close: 12.04 change: -0.29 WHAT TO WATCH: Aggressive short-term traders might be able to squeeze a quick one-dollar move out of LUV. The stock is in danger of breaking below support at $12.00. A violation of this level would clear the way for a possible decline to the $11.00- $11.25 region. In terms of sector strength (or lack thereof!), the airline index is looking very ugly after today's 4.1% decline dragged the XAL.X to new relative lows. The next level of support is at $26.00 - a very attainable target for the bears if high oil prices continue to plague the group. --- Valero Energy - VLO - close: 38.82 change: +1.31 WHAT TO WATCH: Amid an easing of tensions in Venezuela (and a corresponding increase in the amount of oil the country is exporting), shares of Valero have broken above resistance at $38.00. The point-and-figure chart shows that VLO has also moved above bearish resistance. Additionally, a trade at $39.00 would create a double-top buy signal. A breakout above this level might allow the stock to rally towards the 2002 highs near $50.00. Possible overhead resistance looms at $40.00 and $42.00. --- Vivendi - V - close: 14.62 change: -0.97 WHAT TO WATCH: Vivendi bulls have been fighting a losing battle ever since the stock maxed out near $19.00 in the middle of January. A recent short-covering bounce from the 100-dma wasn't enough to take V above the descending 21-dma, currently at $16.10. The technical outlook is looking worse now that shares have broken down to fresh multi-month lows. The daily chart shows a large fast-move region that was formed by the steep late- October rally. This region extends down to the $11.00 area. In terms of action points, bears can watch for a move below $14.50 to provide downside confirmation. However, be aware of possible support at $14.00. This level acted as resistance in September and again in November. =============== Play-of-the-Day (BEARISH active trader/non-tech play) =============== Air Products - APD - close: 38.26 change: -0.57 stop: 42.01 Company Description: Air Products serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. The company is the largest global supplier of electronic materials, hydrogen, helium and select performance chemicals. (source: company website) - ORIGINAL WRITE UP: January 28th 2002 - Why We Like It: Shares of Air Products spent the latter part of 2002 bouncing around between $40 and $46. This range actually tightened in late December and early January, as APD spent several weeks trading in the $42-$44 region. It wasn't until last Wednesday that the stock finally broke to the downside. The catalyst for this decline was the company's earnings report. Air Products showed a boosted profit on increased sales, but missed consensus estimates by once cent. Investors have had a clear bearish bias on APD ever since. Similar selling pressure has been seen in shares of chemical giants DD and DOW. DuPont reported their own quarterly earnings today and rose a paltry 27 cents after it beat estimates by three pennies. The recent action in chemical stocks is a reflection of economic uncertainty on Wall Street. Is a dreaded "double-dip" recession just around the corner? Nobody knows for sure, but as long as economic data remains sluggish (i.e. today's weaker-than- expected durable goods orders), the large institutional buyers will be hesitant to bet on a recovery in the manufacturing sector. Technically, we like APD as a bearish play because the stock is on the verge of breaking through key support in the $40.00 region. Shares rebounded from this level on multiple pullbacks in the second half of 2002. Pulling back to a weekly chart, we see that the next level of possible support is down at the 2001 lows near $32.00. For the purposes of this play we'll target a move to the $33.00 area. Shorter-term traders could aim for a test of the p-n-f bearish vertical count of $36.00. One caveat: The recent losses have pushed the daily stochastics into oversold territory. This indicates that APD might see some short-covering at current levels. However, we think the stock will succumb to another wave of selling once support gives way. We're placing an entry trigger at $39.84 (one cent under yesterday's low) in order to confirm a breakdown. If the play is activated we'll use at stop at $43.02, just above the descending 50-dma. More conservative traders could a stop slightly above Friday's high of $42.15. - Last Update: February 21st, 2003 - The column of O's on APD's Point-and-Figure chart keeps getting longer. That's good news for the bears on this stock. However, we should note that the stock bounced pretty strongly off today's lows. We mentioned on Thursday that APD was due for a bounce and the rebound in the broader indices probably helped fuel the move today in APD. Shares did fail late in the day at $39.00 but we would not be surprised to see the stock attempt to bounce even higher on Monday before encountering more resistance. Those traders looking for new positions will want to keep their eyes open for opportunities early next week to initiate new short plays. Premier Investor will keep our stop at $42.01 for the moment but a tighter stop at $41.00 or just north of $40 would not be unreasonable. - Play-of-the-Day Comments: February 24th, 2003 - A bearish trend across the equity market did not sit well with shareholders of APD on Monday. The stock traded an Inside Day and gave back a healthy chunk of the previous session's intraday gains. A 15-minute chart shows short-term resistance at $39.00 and $38.60. A failed rally from the former level might provide traders with an opportunity to open new bearish positions on Tuesday. Those seeking further downside confirmation will want to wait for a move below the relative low of $37.85. A break under this level would clear the way for a possible decline to the next level of psychological support at $35.00. Conservative traders can continue to use a stop slightly above $40.00 or $41.00. Our stop remains at $42.01. Picked on January 29th at $39.84 Results since picked: +1.58 Earnings Date: 01/22/02 (confirmed) ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright ) 2003 PremierInvestor.net. and The Premier Investor Network. 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PremierInvestor.net Newsletter Monday 02-24-2003 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: Stock Bottom / Active Trader Stop Adjustments: JWN (bearish) High Risk/Reward Stop Adjustments: AW (bearish) Trading Ideas Value Plays With Bullish Signals Breakout to Upside (Stocks $5 to $20) Breakout to Upside (Stocks over $20) Breakout to Downside (Stocks over $20) Recently Overbought With Bearish Signals (Stocks over $20) ================================================================== Stock Bottom / Active Trader (AT) section ================================================================== =============== AT Play Updates =============== Stop Adjustments ---------------- Nordstrom Inc - JWN - cls: 16.63 chg: -0.61 stop: 17.76 *new* JWN was pressured today by news from Federated (FD), JC Penney (JCP) and Wal-Mart (WMT). All three retailers reported that same-store sales for February were negatively impacted by the recent blizzard in the Northeastern United States. Investors didn't need to read between the lines to see how Nordstrom had probably suffered the same downturn in business. Shares dropped to new multi-month lows and finished with a 3.5% loss. This breakdown has raised the possibility that JWN could soon reach our profit-target at $16.06. At this time we're going to lower our stop-loss to $17.76, which should protect a minimal gain. More conservative traders could use a stop slightly above Friday's high of $17.30. ================================================================== HIGH RISK/HIGH REWARD (HR) section ================================================================== =============== HR Play Updates =============== Stop Adjustments ---------------- Allied Waste - AW - close: 8.00 change: -0.30 stop: 9.03 *new* AW continued its precipitous decent on Monday. The stock moved quickly lower after the opening bell and finished the session with a 3.6% loss. Shares were unable to trade above $8.00 during the final two hours of trading. That's a sign that AW might extend its losses on Tuesday. Aggressive short-term traders could evaluate new bearish positions if the stock breaks under today's low of $7.90, but keep in mind that we've set at profit- target at $7.06. We've also inched our stop-loss down to $9.03, just above the descending 200-dma. ================== 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 APC Anadarko Petroleum 46.76 +1.08 FDCC Factual Data Corp 8.84 +0.52 XEC Cimarex Energy 19.65 +0.55 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- Ticker Company Name Close Change RINO Blue Rino Corp 11.32 +1.42 LSS Lone Star Technologies 18.83 +1.01 OSTK Overstock.com 18.11 +1.55 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- Ticker Company Name Close Change VLO Valero Energy 38.82 +1.31 TDW Tidewater Inc 31.14 +1.04 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change BA Boeing Co 28.49 -1.15 MTG MGIC Investments 39.98 -1.49 BGG Briggs & Stratton 38.29 -1.18 DOW Dow Chemical 26.97 -1.19 VFC VF Corp 33.23 -1.31 CCU Clear Channel Comm. 34.60 -2.17 BDG Bandag Inc 30.92 -1.04 WTW Weight Watchers 39.43 -2.64 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- Ticker Company Name Close Change
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