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Daily Newsletter, Monday, 03/03/2003

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PremierInvestor.net Newsletter                 Monday 03-03-2003
                                                  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:      Iraq vs. The Economy
Watch List:       BBI, BEC, FDO, MAN, XL, and more...
Play of the Day:  The Trend Is Our Friend


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MARKET WRAP  (view in courier font for table alignment)
******************************************************************
03-03-2003                  High    Low     Volume Advance/Decl
DJIA     7838.86 -  53.22  7981.46 7822.73   1392 mln  500/864
NASDAQ   1320.29 -  17.23  1353.31 1316.85   1216 mln  251/945
S&P 100   422.18 -   3.18   431.39  420.92    totals   751/1809
S&P 500   834.81 -   6.34   852.34  832.74
RUS 2000  359.31 -   1.21   364.63  358.28
DJ TRANS 2066.08 +  17.03  2084.65 2046.51
VIX        34.09 -   0.06    40.89   36.71
VIXN       45.83 +   0.17    46.02   44.62
Put/Call Ratio 1.02
******************************************************************

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

Iraq vs. The Economy
by Steven Price

Is it all still about Iraq?  It certainly was about the geo-
political picture early on, but some conflicting economic data
also proved that the economy is still playing a part in traders'
minds.

We got a good snapshot today of reactions to both the geo-
political landscape, as well as current economic conditions. The
economic worries won out today, but it was only one chapter in a
very long book. After a Friday afternoon that looked as though we
had finally exhausted whatever bullishness was left in the
broader indices, we got some news over the weekend that tipped
the scales away from an Iraqi invasion.  While it remains highly
probable that the U.S. will still invade, there were a couple of
items that made it a little more difficult.  First was the
expected destruction of missiles by Iraq.  The U.N. weapons
inspectors requested destruction of Iraq's Al-Samoud missiles,
which they deemed to have a range beyond that allowed by the U.N.
resolutions.  Iraq agreed to do so last week, but said they did
not know how and would require assistance, keeping alive the
notion that they may just be wiggling.  When the destruction
began as planned, it was just one more factor that weighed
against a U.S. invasions Iraq continues to throw bones to the
U.N. every couple of weeks.  The U.N. weapons inspectors also
said that they had been allowed to interview more scientists.
Iraq destroyed more missiles on Monday, but has said it would
cease complying with the inspectors' request if it appears the
U.S. will go to war anyway.

The second factor, and possibly an even more important one, was
the vote by the Turkish parliament on allowing U.S. troops to
base in its country. What appeared to be a victory for the U.S.
with more members voting for than against the U.S. plan, quickly
turned sour when the vote was declared "rejected" by the Prime
Minister.  The vote fell three votes shy of a majority due to 19
abstentions.   Turkey's financial markets fell hard on the news,
after they had rallied on the expectations that the country would
be receiving U.S. aid that could help ease a $90 billion hole the
country is facing and large IMF payments facing it. There has
been talk of another vote, but that likely will not come until
next week, after parliamentary elections this weekend.  The
rejection has a big effect on the U.S., which had planned on
stationing troops in Turkey for an attack on Iraq from the North.
While the U.S. has said the decision would not alter its overall
plans, it will require some major re-positioning and could delay
any military action. The U.S. has said it would be successful in
an action against Iraq with or without Turkey's help.  My guess
is still that Turkey eventually takes the much needed infusion of
aid and allows U.S. troops.  However, just a few days before
their elections, a topic that does not have popular support there
may have simply had too much working against it. There were still
more votes cast in favor of the U.S. plan than against it, so
there is enough sentiment from those close to the problem to
build on.  I imagine the 11% decline in their stock market that
followed the decision will only help the U.S. case.

The arrest of a high-level Al Qaeda operative also gave the
markets a boost early on.  Al Qaeda operations chief Khalid
Shaikh Mohammed was arrested in Pakistan and U.S. officials
seized computers, computer disks, paper documents and cell
phones, which they will use to try and determine where other
operatives might be hiding and what plans might be in the works.

The opening euphoria got another boost from a better than
expected construction spending report. Construction spending rose
1.7% in January, to record levels, and also reflected an upwardly
revised number for December.

On the negative side, however, was consumer spending.  Analysts
were expecting a 0.1% rise in nominal consumer spending and
instead got a reduction of 0.1%.  Overall, consumers reduced real
spending by 0.3%.  It was only the second time in the last 14
months that spending has declined. It would also seem to
correlate to recent numbers from the housing market, which showed
a big drop in new home sales for January.  One of the biggest
factors in keeping consumer spending alive, and supporting the
economy, has been low interest rates.  When we start to see a
lesser effect in the housing market, it is a red flag for
spending in general, as it indicates fewer consumers are taking
advantage of those rates to either extract money from current
homes or purchase a new one.  While it is not a direct
correlation, weakness in the housing sector can be used as a red
flag for spending in general.

The drop in spending also portends more economic troubles for the
country, as consumer spending has been one of the only positives
we have seen in a climate where businesses have refused to spend.
Consumer spending makes up 2/3 of GDP and a decline may have a
serious impact on first quarter GDP. Real spending on durable
goods dropped 5.4%, following a 7.2% increase in December.  That
was the largest decline in 13 years and reflected a drop in auto
sales. As consumer debt has reached record levels, some of that
previous spending is also making it back into savings accounts
ahead of war concerns.  The personal savings rate grew from 3.9%
to 4.3%. Personal consumption was also flat, when excluding
energy.  One of the reasons for a drop in spending can also be
linked to a smaller than expected gain in personal incomes.
Personal income grew 0.3%, which was a touch lower than the
already anemic 0.4% that was expected.

We got reports from several automakers, with GM showing the worst
results.  GM reported a 19% drop in February sales.  Ford
reported flat sales and Daimler Chrysler reported a drop of 4.5%.
The total industry numbers came in below expectations.

The biggest report we were waiting on was the ISM manufacturing
report.  Last week's release of the Chicago PMI, which reflects
manufacturing data in the region, came in better than expected.
That was enough to get the bulls geared up for this morning's ISM
release and we rallied into the data release.  Oops.  The ISM
came in at 50.5% for February, well below the expectations for
52.0%.  The internals of the report showed both employment and
new orders down, while prices paid went up. While the 1.5%
difference between the expected and actual levels may not seem
like a big difference, its proximity to the 50% level is
important.  Anything over 50% shows expansion in the sector,
while anything below that level shows contraction. The trend in
both indices is down and now bordering on contraction.  While the
Chicago PMI was better than expected at 54.9, it was still a
downtick from the previous reading of 56.0.  The disappointing
report led to a quick turnaround in the Dow, which had once again
been on its way to testing 8000.  It reached as high as 7981,
before rolling over and dropping more than 100 points
subsequently.

The chip stocks have been one of the hotter sectors over the past
week.  After bottoming around 260, just before we got a bounce in
the broader markets from our recent lows, the Semiconductor Index
(SOX) ran all the way up to a test of resistance at 300.  This
15% gain outstripped the rest of the market and indicated that
this sector may be leading us higher. While the SOX is only a
sector index, it has a high correlation to the broader markets,
as it measures spending and demand for the hard components that
businesses invest in (or don't). The SOX finally hit the 300 mark
this morning, topping out at 304, but that move apparently
brought in the sellers that point to a continued lack of IT
business spending.  After hitting its morning high, it did a 180-
degree turn and fell back to 285.  It was the first indication
that we might see a turnaround off the bottom a couple of weeks
ago when it found support and started creeping higher and if
today's rejection is any indication, the recent pop in equities
may be running out of steam. The sector was not helped any by a
report from UBS Warburg that said the Semiconductor Industry
Association results for January were below expectations, despite
some good data coming from Asian source around the Chinese New
Year. UBS said most categories were down, with the exception of
Flash and SRAM, but it expects a mild sequential increase in
February.  That report was out early and we got a morning rally,
anyway, so the reversal is more likely due to valuation than that
piece of news.

Chart of the SOX


While we did get a series of intraday lower highs after the
initial morning spike, we also got a higher high in the Dow than
we did on Friday.   While the bullish percents remain in sinking
columns of "O," indicating an uphill battle for any continued
rally, we need to note that we have also maintained much of the
bounce of recent lows in the broader indices.  The Dow touched a
relative low of 7628 on February 13, before bouncing 400 points.
We have held onto much of those gains and have mostly moved
sideways. The 50% mark of those gains is 7852 and that level has
served as significant intraday support over the past couple of
days. Today's drop through that level near the end of the day
also led to a failed bounce just below it, indicating we may now
be seeing resistance where we have seen recent support. That
would certainly seem bearish. However, we are seeing a low volume
market, with no real decisive trend. The point and figure charts
continue to reverse from bullish "X" columns to bearish "O"
columns every couple of days it seems.   I highlighted a flag
pattern forming in the Dow PnF chart last week and that pattern
has remained as such, indicating indecision in progressively
smaller trading ranges. The SPX and OEX had been in bullish
columns of "X" and added another upside box this morning.  Their
subsequent rollovers would have turned them back down into
columns of "O" at 835 and 422.50 (2.5 point box) if not for the
earlier addition to the upside.  If we trade the same lower
levels tomorrow, they will reverse down.  That can be seen as
bearish confirmation, but with all of the sudden reversals, it is
getting harder to simply conclude that we are heading in one
direction or another.  The main reason, of course, is the market
sensitivity to world events.

60 min. Chart of the Dow


PnF Chart of the SPX


What happens if Iraq completes destruction of all of their Al-
Samoud missiles?  Or if the U.S. and Turley reach a new
agreement?  Or if Saddam heads into exile? We can certainly guess
at the likely outcome, but we have no real idea what the next day
will bring.  After all, it seemed like a foregone conclusion that
Turkey would allow U.S. troops.

We also got some contrarian indications today from the broader
market movement.  The Dow Transports, which had been testing
October lows and underperforming even a sinking equity market,
got a boost today, most likely from the continued slide in fuel
prices.  That slide has come as Iraq has begun to comply with
U.N. requests and U.S. oil inventories have gotten a break from
the passing of bad weather in the East. The Market Volatility
Index also finished slightly down on the day, indicating a lack
of downside fear. It usually rises on market drops and although
it bounced from intraday lows, it still remained in the red at
the close. It has tested the 34% level on two recent occasions,
before equity drops took it back over 35%.  Today it crept just
over that level in the afternoon to close at 34.09.

It appears that for the moment the trend is down, and I will
continue to trade that way.  However, without a clear-cut
pattern, and the possibility that the tide will change quickly on
world events, I am sticking to risk capital and will likely do so
until world events are sorted out.


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

Blockbuster Inc - BBI - close: 15.55 change: +0.25

WHAT TO WATCH: BBI still looks like a good bullish play.  In
Friday's Watch List we discussed the positive technicals in
Blockbuster.  The stock has traded strong ever since it rebounded
from the 50-dma last week.  This upside momentum carried over
into Monday's session, as shares outperformed the broader market,
moved to new relative highs, and triggered a double-top buy
signal on the point-and-figure chart.  The stock topped out just
below $16.00.  That level is significant because it's the bottom
of the large December 18th gap, which resulted from an earnings
warning.  We'd be watching for a move above $16.00 to provide a
possible buying opportunity - initially targeting a move to the
$18.00 region.




---

Beckman Coulter - BEC - close: 32.91 change: -0.19

WHAT TO WATCH: Shares of this biomedical instrument manufacturer
suffered a rapid decline from the $37.00 region when the company
announced a revenue warning in October.  This created a large
fast-move region on the daily chart, including a gap from $35.22
to $32.65.  Technicians will note that this gap is now in the
process of being filled.  Short-term traders could watch for
bullish entries on a move above today's high ($33.44), initially
targeting the $35.00 region.  A more optimistic upside target
would be the descending 200-dma at $36.58.




---

Ford Motor - F - close: 8.07 change: -0.25

WHAT TO WATCH: Ford reported today that its total U.S. sales
figures were unchanged on a year-over-year basis.  Investors
responded with a clear sell-side bias, dragging F to a 3.0% loss.
This negative reaction largely appears to have been a result of
General Motors' own February sales data, which showed a sharp 19%
decline.  GM also said they're now expecting a 10.5% decline in
Q2 compared to the same quarter last year.  These indications of
weakness in the automotive industry aren't going to help shares
of F hold above key support at $8.00.  A breakdown below that
level would clear the way to a possible retest of the October
lows near $7.00.




---

Family Dollar Stores - FDO - close: 27.82 change: -0.40

WHAT TO WATCH: This is a possible bearish retail play that's
better suited towards longer-term traders.  FDO is a pretty slow
mover - it traded in a range of less than $3.50 in February.  The
stock has been bleeding gradually lower ever since it rolled over
from $32.00 in January.  News of an increase in same-store sales
for that month did not help the stock find a bid.  Shares are
currently trading below support at $28.00 and threatening to
break under the relative low of $27.43.  With a large underlying
fast-move region created by the steep October gains, it looks
like FDO could eventually revisit the $24.00 region.  While a
breakdown to new lows might yield a bearish action point, traders
seeking additional confirmation will want to wait for the stock
to move below $27.00.  This would create a double-bottom sell
signal on the point-and-figure chart and also take FDO below the
bullish support trend.




---

Manpower Inc - MAN - close: 30.01 change: -0.36

WHAT TO WATCH: Shares of Manpower have been moving lower over the
past month, but the bulls are doing their best to defend
psychological support at $30.00.  This level coincides with
bullish support on the p-n-f chart.  MAN has traded in a narrow
range over the past four sessions, sometimes moving below $30.00
but always managing to gravitate back to that area.  Bears can
watch for a wholesale violation of support (perhaps a move below
$29.50 backed by strong volume) to present an entry point.  The
daily chart shows no clear underlying support until the October
lows at $25.00.




---

Telephone Data Systems - TDS - close: 39.70 change: -0.37

WHAT TO WATCH: News of a new stock repurchase plan failed to
ignite shares of TDS on Friday.  Shares have been drifting
steadily lower over the past three months, with the 21-dma at
$40.93 providing reliable resistance.  A failed rally at this
moving average might provide a shorting opportunity.  However,
with both the MACD and daily stochastics (5,3,3) looking ready to
give bearish crossovers, it wouldn't be surprising to see the
stock trading at new multi-year lows in the very near future.  A
move below the $39.00 region would raise the possibility that TDS
might test psychological support at $35.00.




---

Valero Energy - VLO - close: 39.39 change: +0.38

WHAT TO WATCH: There doesn't appear to be much of a correlation
between the price of crude oil (cl03k) and shares of Valero.  If
that were the case, VLO would already be trading at long-term
highs after rallying sharply over the past few months.  However,
upward action in the price of the commodity does seem to be
helping the stock find a bid.  The daily chart shows that VLO is
trading just under resistance at $40.00.  A breakout above that
level (using a move above the relative high of $40.10 to provide
bullish confirmation) might present an entry point.  Short-term
traders could aim to capture a move to the $43.00-$44.00 area of
congestion, while those with a longer timeframe could target a
move to $47.00.  However, potential traders need to remember that
any sudden or unexpected developments in the Middle East could
lead to sharp movements in oil stocks.




---

XL Capital - XL - close: 68.95 change: -1.99

WHAT TO WATCH: XL was hit for a 2.8% loss today after the stock
was downgraded from "Outperform" to "Market Perform" by Wachovia.
This selling led a violation of support at $70.00 and also
created a double-bottom sell signal on the point-and-figure
chart.  Given the deteriorating technical picture, it looks like
the bears might now be able to take XL down to the July lows in
the $60.00 region.  Possible additional support lurks at the
August lows ($66.50) and the psychologically important $65.00
level.  In terms of sector strength (or lack thereof), the IUX.X
insurance index has been drifting back towards key support at 220
after experiencing an oversold rebound in mid-February.  A
breakdown below that level would be quite bearish for the entire
group.  Bears will first be watching for the index to fall below
short-term support at 225.50.





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

Amgen Inc. - AMGN - close: 53.87 change: -0.77 stop: 51.54

Company Description:
Amgen is a global biotechnology company that discovers, develops,
manufactures and markets important human therapeutics based on
advances in cellular and molecular biology. (source: company
press release)

- ORIGINAL WRITE UP: February 11th, 2003 -

Why We Like It:
Finding a solid bullish trend that has existed for more than a
week in the current market environment is tough enough, but how
about a stock that has steadily posted higher highs and higher
lows since late September? Further narrowing the field, how many
stocks in that group are above their 50-dma, with the 50-dma
above the 200-dma? Not many. Believe it or not, we're talking
about Biotechnology giant, AMGN, which has been steadily marching
up the charts in defiance of the both the broader market weakness
and even the lackluster action in the Biotech index (BTK.X),
which is a lot closer to its October lows, than its December
highs. One factor that may be influencing the recent bullish
action could be the company's analyst meeting, currently
scheduled for February 25th. We could see a strong move leading
up to that event. Not only is the price action in AMGN impressive
(trading a new 9-month intraday high of $53.96 today), but so is
the volume. For example, today's rally to new relative highs was
backed by the strongest volume reading in over two weeks.

Overall, AMGN looks ready to stage a solid breakout with a trade
at $54.00. A trade at this level would create a double-top buy
signal on the point-and-figure chart. The p-n-f chart also shows
a bullish objective of $69. While that's a bit too high of an
upside target for our relatively short-term play, the daily chart
shows few obstacles in between current levels and the
psychological resistance at $60.00. This will be our initial
target region. At retest of the 2002 highs near $63.00 wouldn't
be out of the question if we get some cooperation from the BTK.X.
The weekly chart shows that AMGN is trading in a bullish wedge
with previous support (which might now act as resistance) at
$55.00. This level roughly coincides with a long-term trend of
lower highs. We're being somewhat aggressive with an action
trigger at $54.06. Traders seeking more upside confirmation may
want to wait for a move above $55.00. Alternatively, a pullback
to the rising 21-dma ($51.73) might also present an entry point
if you feel more comfortable buying a dip. Our stop-loss (if the
play is activated) will be set at $50.49. More conservative
traders could use a stop slightly below the 21-dma.

- Last Update: February 28th, 2003 -

Talk about dependability! Every time AMGN approaches its
ascending trendline, the bulls defend that support line with a
vengeance and the resulting bounce invariably takes the stock up
to test its recent highs. Last week was no exception, with an
early dip to support on Tuesday that met with vigorous buying
after the company reaffirmed its revenue growth (30-32%) and EPS
growth (25-27%) forecast through 2005 at its investor's
conference. Trading a low of the day just above $52.00, that news
was the catalyst to drive the stock steadily higher throughout
the week, ending with a new 10-month closing high of $54.64 on
Friday. The trend remains very much intact and barring some
unforeseen event over the weekend, AMGN looks ready to break
through the $55 level next week. The ascending trendline that
began last September has now risen to $52.50 and should continue
to support the stock on successive pullbacks. While aggressive
traders may feel compelled to chase the stock higher on a
breakout over $55, their enthusiasm should be tempered by the
strong resistance that is looming just overhead near $56 and
continuing up through the $60 level. Additionally, AMGN has not
shown a recent pattern of being able to sustain a breakout,
instead pulling back after each higher high to consolidate and
confirm higher support. So the best approach for entering the
play remains to take advantage of rebounds from the ascending
support line. This weekend, we're leaving our stop in place at
$51.54, but will consider raising it once AMGN is able to close
over the $55 level.

- Play-of-the-Day Comments: March 3rd, 2003 -

We've talked at length about the long-term ascending trend that
has provided support in AMGN.  On Monday morning the stock
distanced itself from that trend and moved to a multi-month high
of $54.95.  But with the NASDAQ not showing any leadership,
shares were unable to move above psychological resistance at
$55.00.  The subsequent intraday reversal erased Friday's gains
and dragged AMGN to a loss of 1.4%.  A promising development for
the bears?  We don't think so.  As a matter of fact, a pullback
to the ascending trendline on Tuesday might present a favorable
entry point for traders who are looking to open new long
positions.  That trendline is bolstered by the rising 21-dma at
$52.93.  AMGN does have overhead resistance at $55.00 and $56.00.
However, a stop slightly below the 50-dma at $51.70 should keep
downside risk to a manageable level in the event that AMGN fails
to clears those hurdles and violates the pattern of higher lows.
On a news-related note, U.S. regulators will ask for an advisory
panel's advice tomorrow on how to handle the question of whether
a certain class of arthritis drugs (including Amgen's Enbrel
treatment) may be linked to cases of lymphoma (source: Reuters).
Industry analysts do not expect the FDA to make any decisions
that would adversely impact the manufacturers of those drugs.
Nevertheless, conservative traders not willing to harbor the risk
of news-induced volatility might want to look elsewhere for
possible plays.

Picked on February 14th at $52.51
Results since picked:       +1.36
Earnings Date            04/24/03 (unconfirmed)







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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
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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 03-03-2003
                                                   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:

High Risk/Reward
  Triggered Plays:      GLW (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)


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

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

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

Corning Inc. - GLW - close: 5.10 change: +0.18 stop: 4.53

GLW displayed excellent relative strength today, tacking on 3.6%
despite a 1.2% loss in the NASDAQ.  A 5-minute chart shows that
most of the session's gains came within the first half-hour of
trading.  Shares shot higher after the opening bell and quickly
reached our entry trigger at $5.01.  The stock maxed out at $5.21
before moving back towards the $5.00 region for the rest of the
day.  Bulls can be encouraged by the way GLW remained above that
level of former resistance, which should now provide support.
Our stop for this play is set at $4.53.  New entries can be
targeted on a move above today's high.  In the news today,
Corning completed its acquisition of Tyco International's Power
Materials unit.





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

SWK     Stanley Works              26.52     +0.71
ABFS    Arkansas Best              24.31     +0.61
EQT     Equitable Resources        37.08     +0.78

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

IMCL    Imclone Systems            14.35     +1.02
UTSI    UTStarcom Inc              19.22     +1.04
CNP     Centerpoint Energy          5.80     +1.15

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

VIP     Vimpel Communications      38.44     +1.08
PHCC    Priority Healthcare        23.80     +1.18
BLK     Blackrock Inc              42.70     +1.10
JOSB    Jos A Bank                 24.20     +1.10
MBT     Mobile Telesys             44.17     +1.4

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

DRS     DRS Technologies           21.10     -1.49
CRR     Carbo Ceramics             34.13     -1.12
BWA     Borg Warner                50.61     -1.61
XL      XL Capital                 68.95     -1.99
NWL     Newell Rubbermaid          27.05     -1.15
COF     Capital One Financial      28.25     -2.72
CVD     Covance Inc                21.23     -2.32

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

EOG     EOG Resources              40.90     -0.40
QSII    Quality Systems            24.50     -0.83




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