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Daily Newsletter, Friday, 03/21/2003

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PremierInvestor.net Newsletter          Weekend Edition 03-21-2003
                                                    section 1 of 3
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:      Shock And Awe
Play-of-the-Day:  A Breakout In A Bullish Market
Watch List:       LF, CVC, SEE, SCHL, INTU, and lots more!
Market Sentiment: Awe, Shocks - It's Just Another Rally

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MARKET WRAP  (view in courier font for table alignment)
******************************************************************
        WE 3-21         WE 3-14        WE 03-07        WE 02-28
DOW     8521.62 +661.91 7859.71 +119.68 7740.03 -151.05 -127.03
Nasdaq  1421.17 + 80.84 1340.33 + 35.04 1305.29 - 32.25 - 11.48
S&P-100  456.37 + 32.30  424.07 +  3.95  420.12 -  5.24 -  4.51
S&P-500  895.89 + 62.62  833.27 +  4.38  828.89 - 12.26 -  7.02
W5000   8463.32 +566.83 7896.49 + 39.17 7857.32 -115.30 - 63.35
RUT      376.23 + 21.84  354.39 +   .21  354.18 -  6.34 -  3.84
TRAN    2263.49 +236.40 2027.09 - 15.39 2042.48 -  6.57 - 47.36
VIX       33.62 -  2.71   36.33 +  0.68   35.65 +  1.50 +  0.01
VXN       45.78 -  0.02   45.80 -  0.59   46.39 +  0.74 -  0.45
TRIN       0.59            1.11            1.29            0.84
Put/Call   0.63            0.70            0.75            0.59
******************************************************************

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

Shock and Awe
by Jim Brown

Yes, I am shocked and awed but by the moves in the market not
the bombs in Iraq. Without showing extreme vertical spurts of
buying and even with intraday drops and periods of inactivity
the Dow has managed to produce more shock than the war in Iraq.
Numerous record book entries were created and support and
resistance points rewritten.

Economic reports on Friday were bland with the CPI rising
slightly due mostly to high oil prices. Real inflation
remains tame despite gas prices being up +43% over last year.
That high priced energy component is about to change with the
June contract for oil dropping to $26 a barrel and well below
the $39.99 price paid a month ago. This should add +1.25% to
the GDP for the 2Q. This is the removal of the -1.25% impact
that will be felt in the 1Q GDP when finalized. The lowered
energy prices are very bullish for the stock market as lower
costs are passed through in manufactured items. It is good
for the market because the consumer feels better paying less
for gas and will be spending that money on other things to
benefit the economy.

The Weekly Leading Indicators fell slightly on the basis of
jobless claims, a falling money supply and selling in bonds.
The leading indicators and the economy appear to be in a
wait and see mode as the war progresses.

Mutual Funds saw the first inflow of funds in eight weeks
as the war appeared to be going well and the prospect of
a new bull market looms. The +$900 million of inflows for
the week ended Thursday was but a trickle compared to the
-$4.9 billion that flowed out the week before. Remember
the 90% downside volume day last week? Evidently that was
a capitulation day and the flood of money out of funds
was the evidence of capitulation by many investors.

What a week! I am still spinning in disbelief. The Dow
turned in its best week since 1982, a 21 year record. It
is now positive for the year and has gained over +1100
points since the low for last week at 7400. Yes, +1100
points in eight days. This is the biggest gain since
Dec-1998. It is an amazing feat, especially when you
consider the major resistance levels that were passed
with barely a pause. 7900, 8050, 8150 and 8350 are just
blips on a chart now but they were major battle lines in
the past. The Dow is above all averages now except the
200 day EMA. This average has stopped the last two major
rallies in their tracks but I am not sure anything can
stop this train.

Dow Chart - Daily


The Nasdaq performed admirably but significantly less
convincingly than the Dow. The Nasdaq closed over 1400
but only managed +19 points compared to the +235 for the
Dow. Problems for the Nasdaq included CSCO, which was weak
on the rumor that JNPR would warn next week. The same 200
EMA that stopped the Dow and the Nasdaq in the past was
1416 at Friday's close with the Nasdaq at 1421. This
technical break was encouraging for the bulls but there
was little real difference.

Nasdaq Chart - Daily


The S&P, a broader indicator of market strength than the
Dow, has not reached the same levels of bullishness as the
Dow or the Nasdaq. The S&P is below the 200 EMA at 912 and
horizontal resistance at 950 and down trend resistance at
900 and 923. I am not claiming that any of these levels will
stop the advance but the picture for the S&P is clearly more
challenging than that for the Dow.

S&P 500 Chart - Daily


For an even broader look at the markets we can look at the
Wilshire 5000. This broader look takes out the confusion of
the Dow 30 where one or two major stocks can influence the
entire average and indirectly the market reaction to the
the Dow gains. We can't ignore the Dow but for real market
breath the Wilshire is a better indicator. Notice on the
chart below the confluence of resistance at 8675 and the
200 EMA at 8613. This will be a serious problem for the
broader market to overcome.

Wilshire-5000 Chart - Daily


I definitely do not want to claim a sell off is imminent.
I have been expecting it for several days based on the
unsupported spike and terrible economic conditions but
obviously the market has a mind of its own. The war and
the perception of the war is controlling our destiny. We
have rallied on hopes that the war was going to be delayed,
on hopes it would be sooner, on expectations that it would
be quick and we even rallied on statements from Bush that
it would be longer and more difficult than previously
thought. We have alternately rallied on bombs falling and
sold off on bombs falling. We rallied when Saddam was killed
and rallied again when it appeared he wasn't.

The bottom line is we rallied. Good news or bad news from
the war, good news and bad news from the economy. We rallied
because everybody thought we should rally. Traders had been
condition to expect a war rally just like they were conditioned
to sell on uncertainty before the war. Nearly $5 billion in
cash left equity funds last week on fear of the war. The
Dow has rallied +15% from last weeks low when that cash
was flowing out of the market.

Is this rational buying? Not in any market I have ever
seen. We have these big spikes but they very seldom stick.
They are reactions to extremes in the market. We were
extremely oversold last week. We are extremely overbought
this week. There has to be an equalization of pressures
where reality comes back into the market. Maybe Monday,
maybe next week, maybe in a couple weeks but it will
eventually correct.

Remember this was a quadruple option expiration Friday
in a month/quarter where there were extreme market moves.
Art Cashin said on Friday night that the type of orders
appeared to be option related not buying from Ma and Pa
Investor. Volume across all markets was 4.3 billion shares
and very strong but only 2:1 advancers to decliners. The
2.1 billion on the NYSE came in two buying spurts with
500 million in the first 45 min and another 500 million
in the last 90 min. The rest of the day was quiet and
trending lower except for a 45 min buy program at 11:50
that triggered some short covering.

I went back and looked at some similar rebound streaks
over the last couple years. There were more than I
expected but all had the same result. They streaked into
the stratosphere only to pause and retrace much of their
gains before moving up again. The biggest problems with
streaks like this is not the massive individual streak
itself but the dozens of less spectacular rebounds that
only lasted 3, 4 or even five days before rolling over.
Those dozens of bounce and roll rebounds are quickly
forgotten as traders chase stock prices to either catch
the speeding train to add to long positions or by shorts
just waiting for it to slow so they can jump off. Those
who remember the 3-4 day bounces have been waiting
patiently for the retracement for a week to no avail.

Combo Chart - Dow


What should investors do? Investors are faced with a tough choice.
Wait for a pull back that may never come or jump on the speeding
train. There are plenty of reasons to buy including the potential
for the war to be over next week. The massive 20,000 vehicle US
advance is moving at high speed toward Baghdad but when they get
there the war could be over. With the surrender of the 51st
Iraqi division on Friday the incentive for other commanders to
follow suit is growing. With massive destruction of everything
related to Saddam in Baghdad it will quickly be obvious that
clinging to past hopes is a losing battle. IF the war is over
next week the market could add another 1000 points on happy
thoughts alone. This would be especially true if the troops
were greeted in Baghdad as liberators as they have been in the
towns already passed. This continued rally would be emotional
only and could push the indexes to even more unsupported heights.

Should the war turn into a street fight where high tech cruise
missiles and laser guided bombs are useless then the TV sound
bites could turn into Mogadishu type pictures of US wounded
and dead civilians. The administrations hopes are built on the
war being over before the street fight begins. They are almost
begging everyone to surrender to prevent having to fight in
Baghdad. A street fight could turn this rally into a rout
very quickly.

As traders we need to remain focused and trade what we see.
I have not been successful in that recently. My remembrance
of the dozens of bounce and rolls is much more vivid than
the half dozen 7-8 day spikes over the last several years. I
know many traders are not saddled with this affliction and
I am envious. I have bought so many breakouts over the years
that turned out to be tops that I have an instinctive fear
of unsupported rallies.

I understand that markets sometimes make major moves on
nothing and that appears what is underway now. The earnings
picture is terrible with almost every guidance announcement
negative. Traders have decided momentum is more important
than fundamentals and until that momentum fades the earnings
and the economy will be a footnote. On the positive side a
quick war with minimum casualties will do wonders for
consumer sentiment. Once families of servicemen hear the
fighting has stopped and they are no longer in immediate
danger several million relatives will rejoice. With nearly
500,000 military personnel in theater counting the shipboard
crews that will be one big sigh of relief.

If the collective sigh of relief carries over to consumers
and the wallets are opened then a recovery can begin. This
does not mean it will be instant. The summer months are
normally a drag on the economy and the market. Offsetting
this drag could be the successful passage of the $700
billion stimulus package. The house passed it on
Friday but the Senate has put off the vote until next
Wednesday. There could also be a rush of government spending
to replace equipment used in the war and buy new equipment
with enhancements from lessons learned in the war.

Still we are faced with a tough decision. Do we jump on the
speeding train knowing there is a bridge out up ahead just
not how far ahead? Or do we wait for the pull back and for
fundamentals to catch up with the market. It is a tough call.
If the current rebound continues like the October rebound
then it could be a month or more before weakness appears.
If it is like the July rebound then weakness could hit next
week. If you are an agile trader then jumping on the train
is not risky as long as you keep your eye on the exit. It
is the market timing thing that becomes risky. Is this the
drop or a pause? Is this the next wave up or just a spike.
Get in, out, in, out, etc.

With any positive news over the weekend the rally should
continue as any remaining shorts bite the bullet and exit.
Investors who took $5 billion out of the market last week
may also decide to put it back in +15% higher. Investors
on the sidelines may read the paper this weekend and see
a 21 year record for the Dow and start looking for the
mattress money to put back in the market. In short until
the fog of war clears and the heightened uncertainty of
market direction fades we are likely to see continued
unexpected moves.

Next week we should see an increase in earnings warnings
but they will likely be overshadowed by events in Iraq.
They are important and whether the market pays attention
next week or not they will come back to haunt us in April.

With the quadruple expiration Friday behind us we will
have one more day of nervous trading as exercised options
are settled on Monday. Another factor will begin to take
control soon and that is end of quarter window dressing.
Especially after the big rally equity funds will be hard
pressed to go into the quarter end with cash on the books.
With investors getting statements after such a big market
event they will be looking for signs that their fund owns
the winners. Ironically, those, which are currently heavy
in cash will be trying to doctor those statements to show
they participated in the rebound even if it means buying
at the current inflated prices.

Next week should be a key week for the markets. If they
can retain the momentum through the end of March then
we could see some significant gains from train chasers.
If this momentum fades next week then we could see three
weeks of consolidation until April earnings give us our
next direction. Either way next week should not be dull.
Just don't let your bias get in your way.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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

NCR Corp. - NCR - close: 20.06 change: +0.74 stop: *text*

Company Description:
NCR Corporation is a leading global technology company helping
businesses build stronger relationships with their customers.
NCR's ATMs, retail systems, Teradata. data warehouses and IT
services provide Relationship Technology(TM) solutions that
maximize the value of customer interactions. (source: company
press release)

Why We Like It:
There are market rallies, and then there are market rallies of
historical proportions.  The past week's action definitely falls
into the latter category.  Anticipating a repeat performance of
the 1991 Gulf War, when stocks rallied as soon as the bombs
started falling, investors began to take positions before the
hostilities even began.  The market continued to zoom higher late
this week as evidence mounted that the Hussein regime could fall
within a matter of days.  Now traders are wondering if this
incredible rally will extend into next week.  The bears could
certainly make a strong argument that stocks are well overdue for
some profit-taking after the Dow rebounded 1100 points from its
lows.  On the other hand, bulls will be using any further
positive events out of Iraq to provide fuel for a continued
uptrend.  These types of rallies also have a way of feeding upon
themselves as mutual fund managers sitting on the sidelines
become fearful of missing out on even more upside action.
Confronted with that possibility, they finally give in and buy
stocks as they continue to rise.  It's a vicious cycle for the
bears.  Some optimists would tell you that the Dow is headed
straight for 9000.  We find that a bit optimistic, but with the
index trading above its 200-dma and no resistance until the
January highs near 8850, a technical case could certainly be made
for additional upside.  Meanwhile the NASDAQ has broken above
resistance at 1400 and could be on course to test its own January
highs at 1460.

Amid this backdrop of large market gains, we've added NCR as a
long play.  The news front has been pretty quiet, with the last
major development occurring on January 23rd when the company
announced an earnings warning.  NCR said it expected an EPS loss
of 45-50 cents in the first-quarter, versus the estimated loss of
24 cents.  This downside guidance pressured the stock in the
weeks that followed.  NCR bottomed out near $17.00 on February
14th and rallied sharply six days later when the company's CEO
put in his resignation.  More recent action has seen NCR move
sharply higher with the rest of the market.  The technical
picture continued to improve on Friday, when shares moved above
resistance at $20.00.  This breakout produced on double-top buy
signal on the point-and-figure chart.  Looking at the daily
chart, you'll see that NCR is moving into the fast-move region
created by the swift decline from $26.00 in mid-January.  This
sell-off was a reaction to the company's announcement that it
would take a $43 million charge against fourth-quarter results.
Although it's hard to make a fundamental case for investing in
this stock, we think short-term traders will be able to take
advantage of the current breakout.  Our goal will be to ride NCR
to the $23.25-$23.50 region, near the December lows.  The action
trigger to enter this play is located at $23.33, a penny above
the January 23rd high.  Our stop will be set at $18.98, under the
descending 50-dma ($19.38) and whole-number support at $19.00.
Traders with a more aggressive strategy could use a stop slightly
beneath Thursday's low of $18.80.

Annotated daily chart - NCR:


Picked on March xxth at $xx.xx <- see text
Results since picked:    +0.00
Earnings Date         04/18/03 (unconfirmed)





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

Leapfrong Enterprices - LF - close: 25.28 change: +1.28

WHAT TO WATCH: If you have young children then you're probably
already familiar with the Leapfrog products.  These popular
learning tools helped push shares of LF to incredible heights
during last year's Christmas season.  The stock has been doing
extremely well these last few weeks with a new bottom in the
stock after LF and another company dismissed litigation over any
patent infringements mid-February.  Shares closed over the $25
level on Friday and we feel this is one stock to watch for
traders.  The $24 level is short-term support with stronger
support around $22.




---

Cablevision Systems - CVC - close: 20.30 change: +0.90

WHAT TO WATCH: It's been a long, hard fall for shares of CVC.
The stock traded above the $90 mark in January of 2001 and as of
July 2002 shares traded at sub-$5 levels.  The rebound has been
strong and shares have been consolidating sideways between $15
and $20 for months now.  New strength in the overall markets have
given CVC a chance to breakthrough the $20 level.  There really
is not overhead resistance except for the Point-and-Figure chart
bearish trend line at $28.00.  Momentum traders could play the
breakout and more conservative traders can look for a pull back.




---

Sealed Air - SEE - close: 41.98 change: +1.83

WHAT TO WATCH: The recent consolidation for SEE may be over.
Shares have been trading sideways since late November when the
company agreed to pledge huge sums of cash and stock to settle
any and all future asbestos claims.  The stock has been stuck in
the $35 to $40 trading range for months and the incredible market
rally has finally allowed bulls to breakthrough and set new
relative highs.  This could have the shorts panicking.  There
really isn't much overhead resistance until $46-47 but we'd much
rather prefer to enter any longs on a bounce.




---

Scholastic Corp - SCHL - close: 26.59 change: +0.60

WHAT TO WATCH: Shares of this book publisher were hammered hard
in February after the company warned that weak January sales
would force them to miss estimates.  The shakeout appears to be
complete and the rebound has SCHL right on the edge of the gap
down.  Should the stock trade above $27.00 it could attempt to
fill the gap.  We're not expecting a fast rally by any means and
a short term target is probably the 50-dma or the $30 mark.




---

Intuit Inc. - INTU - close: 38.72 change: -12.17

WHAT TO WATCH: Ouch!  That's almost a 24% loss in market cap for
shares of INTU after the company lowered its 2003 revenue
targets.  Volume was excessive at 40.7 million shares and after
the initial bounce the stock continued to roll over.  One might
suspect the selling isn't over yet.  Another failed rally at $40
could be an entry to go short.




----------------
The RADAR Screen
----------------

CBL - This looks like a strong, not-quite-too-extended breakout
over the $40 level for shares of CBL.  Traders should watch the
$41 mark as shares failed there last summer.  A pull back and
bounce at $40 with a tight stop doesn't sound too bad either.

IGT - Who knew gambling was so hot during war times?  This stock
has been consolidating sideways under the $80 mark for months and
the recent breakout has the stock in rocket mode.  Next stop
appears to be $90 but a pull back and bounce at $82 looks
attractive for a bullish entry.

CD - Hotel stocks like CD appear to be in rally mode on the
assumption that a quick end to the war on Iraq and continued
success with the war on terror will have consumers more
comfortable traveling again.  This stock broke out above the $13
level and looks very strong.  We're not recommending that anyone
chase it but it bears watching.

TTC - Toro Co is hitting what appears to be new all-time highs.
Shares had been consolidating in a tight range just under the $70
mark before Thursday.  After the close on Thursday TTC announced
a 2:1 split due in April and traders cheered it on through
overhead resistance.  A pull back to $70 looks like an attractive
entry point.

DISH - Business must be doing okay for EchoStar as the stock
keeps climbing slowly but surely.  The close over $30 is a nice
break of long-term resistance.  This is one stock that doesn't
appear to be getting away from anyone.

PCAR - This appears to be a new all-time closing high for PCAR.
The $50 level has been resistance for months and the recent
breakout and retest in the last five sessions bodes well for
continued strength.

TECD - Shares of this tech company have been very strong and not
only have they closed the gap but they have broken through its
50-dma and resistance at the $25.00 mark.

SNE - As the U.S. dollar continues to rebound this makes SNE's
goods less expensive, which is good for business.  We do see
potential resistance at the 50-dma and at $40.00 but if the war
with Iraq is over quickly then confidence should return to the
American currency.  Target the 200-dma if you're bullish.

UPS - Shares of this stock look like a geyser.  The rebound from
$53 to $60 has been non-stop.  With $60 as overhead resistance,
will the rally continue or will traders finally take some profits
off the table?

PG - Procter and Gamble looks like another geyser.  Shorts had
been waiting for weeks to see the $80 level of support fall.  Now
the stock has recouped months worth of losses on just the last
two weeks.  Can it break $90? or will it roll over?

PGR - We know some traders have been watching the rally in PGR
with absolutely awe and shock.  Not only has this insurance
company added 33% to its stock price but it's closing above the
$60 level of resistance.  This isn't normal folks.

AMZN - Speaking of abnormal price moves, going from $20 to $28 in
five weeks definitely isn't normal unless you look back to 1999.
There are probably plenty of bears (short the stock) who are
painfully saying to themselves "it can't go any higher".  Brings
back memories doesn't it.  We're not bullish but we're not ready
to short it either despite what appears to be a hanging-man
candlestick pattern during Friday's action.

YHOO - All we have to say is that shares haven't been this high
since March of 2001.

IRM - Check out a weekly chart of IRM and you tell us if this is
sustainable.  A pull back seems inevitable but shorts have
probably been saying that since $30.00.


================
Market Sentiment
================

Awe, Shocks - It's Just Another Rally
by Steven Price

The bombs keep coming, Iraqis keep surrendering and the market
continues to bet on an economic recovery as a result.   We saw
significant levels tested in most of the broader indices and
those levels were mostly taken out to the upside, giving us
little reason to pick a top just yet.

We have been hearing plenty of bearish comments from companies
giving full year or quarterly outlooks, but most of those
comments have cited economic uncertainty due to geo-political
concerns as a big reason for those outlooks.  Now that the war
has begun with little opposition and the price of oil has dropped
significantly, much of that uncertainty seems to have been
removed. The question now is whether it will bring back corporate
spending. While it would be nice to see companies benefiting from
lower fuel costs, therefore having more money to spend on
expansion and hiring, we have to remember the position we were in
before the Iraq situation began to heat up last year.

We were creeping and crawling out of a recession and we
repeatedly got profit warnings and signals that a recovery was
not on the immediate horizon. Once the possibility of war began
to increase, attention turned to the international arena and most
companies began targeting that possibility as the reason that
spending was on hold.  There is certainly something to be said
for certain industries having greater exposure to war.  Airlines
and other travel related stocks come to mind, as travelers
refrain from making overseas (or even domestic) travel plans.
Certainly transportation stocks, which can only pass along so
much of increased fuel costs to customers, would also suffer.
Those transportation cost certainly affected almost every
business sector that has goods to ship, as well.  Now that those
fuel costs will be coming down, it's a good bet to see
improvement in the bottom lines of those industries.

May crude oil futures finished below the 200-dma for the first
time since November and also below the $27 per barrel mark for
the first time since December.  The drop followed news that the
U.S. forces had taken control of oil fields in southern Iraq and
that the fires that had been set in the north were not as
numerous as expected. The May contract has dropped almost $10 per
barrel since march 12, while the April contract has dropped
almost $13 form its February 27 high and $11 in the past seven
sessions.

However, are we going to see an upturn in demand for technology?
Intuit (INTU) is obviously not seeing an upturn (see sector
report on GSO below). Certainly if companies begin hiring once
again, there may be a need for new computers.  If unemployment
drops, we may also see the demand for PCs grow in the consumer
sector as new hires have more disposable income to invest.  Lower
gas prices will have an immediate effect on disposable income and
the effects may be seen in the retail sector sooner rather than
later. Still, we need to be aware that the sales expectations for
many retailers have been dialed down considerably over the past
year and even if they are able to beat recent forecasts, we still
have a ways to go before we see a recovery.  Wal-Mart is an
example of a store that had given traditional monthly same store
sales growth guidance in the 4-6% range for several years, but
throughout last year, dropped that guidance to around 2-4% in
most months. Seasonal purchasing has lead to estimates that are
much higher for April, but we need to be looking back a couple of
years for comparison before deciding if the economy has come
back.

It may be hard to imagine a rally of over 1000 Dow points in a
week not experiencing a pullback, but most of the technical
indicators are telling us to buy that dip.  It has been almost
year since the Dow and SPX crossed their 200-dmas and exactly a
year since the OEX dropped through its 200-dma for the last time.
Those averages have been falling dramatically since then.  The
levels on the last cross were SPX 1140, Dow 9885 and OEX 586.
Just to measure how far we've fallen, the current readings that
we crossed today were SPX 892, Dow 8440 and OEX 450.  Still, we
have made several attempts to cross those levels and shorts have
successfully defended each attempt. Not today. Each of those 200-
dmas coincided closely with the daily pivot matrix levels we have
been posting in the Index Trader Wrap.  The daily R2 in the SPX
was 892, the daily R1 in the OEX was 449.9 and the daily R2 in
the Dow was 8433.  All of those 200-dmas were broken decisively
on today's rally.   Once those levels broke, we stalled for a
while and then found legs for another run higher. The Dow cruised
all the way past 8500 and has now made up 2 moths of losses in
seven sessions. The pace certainly seems unsustainable, but we
have yet to see any signs of weakness.

This was the largest one-week percentage gain in the Dow since
1982 and the first time since 1998 we have seen eight straight
gains.  There were undoubtedly plenty of bears picking tops and
thinking there had to be a pullback, with that type of history to
look back on.

For those traders following the point and figure charts, they
will note that the rally over the past week took us through the
bearish resistance lines in the Dow, SPX and OEX. We not only
crossed those lines, but established full breakthroughs with
additional boxes above them.

With earnings reports still several weeks away, there may be time
for some of the fuel cost savings to make its way into the bottom
lines.  However, it is more likely that we will get a wake up
call that the economy has not all of a sudden turned around.
The key will once again be future guidance. In January, we began
to get fourth quarter earnings reports that in many cases were
much better than expectations.  It was the accompanying outlooks
that sent us rolling downhill.  This time around we could see the
reverse if companies say they are seeing a turnaround beginning
to develop. Once the war is past, we should also see a pick-up in
consumer confidence, which is hovering at ten-year lows.

Traders can jump on if they like, but the extreme bullishness of
the past week will be hard to match.  With a quick war now a
foregone conclusion, what will fuel the rally further?  Maybe the
conclusion to the war over the weekend will continue to drive us
higher on Monday.  But it seems that any complications at all
would take some shine off the enthusiasm.  So far it looks like
there will be few complications and that Baghdad will be a
cakewalk.  However, it seems too easy and it is likely Saddam
Hussein will have some type of surprise waiting as troops close
in (whether he is still alive, which is uncertain at this point,
or not).  By the time this article is published, the conflict may
be over and there may be no reason to be cautious about that
situation. However, even if things do go exactly as planned,
there are still some economic landmines out there and once the
war is over, we'll be faced with assessing the health of business
within our own borders.
-----------------------------------------------------------------

Market Averages

DJIA ($INDU)

52-week High: 10673
52-week Low :  7197
Current     :  8522

Moving Averages:
(Simple)

 10-dma: 7974
 50-dma: 8070
200-dma: 8440

S&P 500 ($SPX)

52-week High: 1176
52-week Low :  768
Current     :  896

Moving Averages:
(Simple)

 10-dma:  845
 50-dma:  855
200-dma:  893

Nasdaq-100 ($NDX)

52-week High: 1734
52-week Low :  795
Current     : 1093

Moving Averages:
(Simple)

 10-dma: 1036
 50-dma: 1010
200-dma:  993
-----------------------------------------------------------------

The Software Index (GSO):  The GSO was one of the few weak spots
in today's broad market rally.  For those investors/traders
holding calls on recent winners such as ADBE, SYMC and INTU, the
culprit for today's sell-off was the last in that line.  Intuit
lowered its second-half growth outlook and reduced its full year
2003 guidance from a range of $1.38-$1.42 to $1.30-$1.35 on
revenue that was dropped from $1.71-1.77 billion to $1.65-1.69
billion.  The stock was pummeled losing $12.17.  It was also
downgraded by Prudential, which said the early signs of sales of
its tax software have been weaker than expected and that IRS
website might actually be taking some of its business.  It was
enough to put an anchor on the entire sector and turned the GSO
into a 2.2% loser.

52-week High: 180
52-week Low : 77
Current:      101

Moving Averages:
(Simple)

 21-dma: 103
 50-dma:105
 200-dma: 101
-----------------------------------------------------------------

The Market Volatility Index (VIX) has finally indicated a
significant drain of fear out of the market.  After holding up
above 34% on a closing basis since January 24 (with the exception
of a close of 33.98 on Feb 3), it finally broke down on today's
rally, finishing the day at 33.28.  It had been giving us mixed
signals all week as the fear of something going wrong on the war
front has kept option premiums pumped up.   However, now that a
quick end to the war seems to have been priced into the equity
market, we are getting similar signals from the support break in
the VIX.

CBOE Market Volatility Index (VIX) = 33.62 -1.64
Nasdaq-100 Volatility Index  (VXN) = 45.78 -2.70

-----------------------------------------------------------------

          Put/Call Ratio  Call Volume   Put Volume

Total          0.63       1,228,293      775,231
Equity Only    0.42        982,344       415,052
OEX            0.93         70,515        65,771
QQQ            0.72        112,180        80,403
-----------------------------------------------------------------

Bullish Percent Data

           Current   Change   Status
NYSE          40.4    + 2     Bull Correction
NASDAQ-100    48.0    + 3     Bull Alert
Dow Indust.   40.0    +10     Bull Alert
S&P 500       41.2    + 5     Bull Confirmed
S&P 100       43.0    + 8     Bear Confirmed

Bullish percent measures the number of stocks in an index
currently trading on a buy signal on their point and figure
chart.  Readings above 70 are considered overbought, and readings
below 30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - Pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend
-----------------------------------------------------------------

 5-Day Arms Index  0.57
10-Day Arms Index  1.29
21-Day Arms Index  1.32
55-Day Arms Index  1.28


Extreme readings above 1.5 are bullish, and readings below .85
are bearish.  These signals don't occur often and tend be early,
but when they do, they can signal significant market turning
points.
-----------------------------------------------------------------

Market Internals

        Advancers     Decliners
NYSE       2093            774
NASDAQ     2005           1080

        New Highs      New Lows
NYSE        87               32
NASDAQ      85               39

        Volume (in millions)
NYSE       2,149
NASDAQ     1,851
-----------------------------------------------------------------

Commitments Of Traders Report: 03/18/02

Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts at the
Chicago Mercantile Exchange and Chicago Board of Trade. COT data
can be found at www.cftc.gov.

Small specs are the general trading public with commercials being
financial institutions. Commercials are historically on the
correct side of future trend changes while small specs tend
to be wrong.

S&P 500

Commercials reduced the short position significantly, adding 43K
long contracts and only 5K shorts, also registering the most
bullish reading of the year. Small traders took the opposite
approach, adding 15K long contracts and 51K shorts for the most
bearish reading of the year.  Notice, however, small traders
seemed better equipped coming into the rally.

Commercials   Long      Short      Net     % Of OI
02/25/03      424,276   482,476   (58,200)   (6.4%)
03/04/03      426,053   472,492   (46,439)   (5.2%)
03/11/03      440,688   485,938   (45,250)   (4.9%)
03/18/03      483,224   490,582   ( 7,358)   (0.1%)

Most bearish reading of the year: (111,956) -   3/6/02
Most bullish reading of the year: (  7,358) -  3/21/03

Small Traders Long      Short      Net     % of OI
02/25/03      157,790    91,083    66,707     26.8%
03/04/03      164,759    98,636    66,123     25.1%
03/11/03      169,450   102,631    66,819     24.6%
03/18/03      184,907   153,400    31,507      9.3%

Most bearish reading of the year:  31,507 - 3/21/03
Most bullish reading of the year: 114,510 - 3/26/02

NASDAQ-100

Commercials reduced the short position here, as well, adding 15K
longs and 8K shorts. Small traders reduced overall long
 positions, adding 10K long contracts, but also adding 17K
 shorts.

Commercials   Long      Short      Net     % of OI
02/25/03       38,787     51,745   (12,958) (14.3%)
03/04/03       39,934     52,978   (13,044) (14.0%)
03/11/03       43,641     56,020   (12,379) (12.4%)
03/18/03       58,877     64,302   ( 5,425) ( 4.4%)

Most bearish reading of the year: (15,521) -  3/13/02
Most bullish reading of the year:   9,068  - 06/11/02

Small Traders  Long     Short      Net     % of OI
02/25/03       25,378     7,431    17,947    54.7%
03/04/03       24,240     8,038    16,202    50.2%
03/11/03       27,196     9,674    17,522    47.5%
03/18/03       37,097    26,951    10,146    15.8%

Most bearish reading of the year: (10,769) - 06/11/02
Most bullish reading of the year:  19,088  - 01/21/02

DOW JONES INDUSTRIAL

Commercials left the overall position close to unchanged by
adding 5K long contracts and 4K shorts.  Small traders reduced
the overall short position slightly by adding 1K long contracts
and only 600 shorts.

Commercials   Long      Short      Net     % of OI
02/25/03       19,985    11,866    8,119      25.5%
03/04/03       21,326    12,724    8,602      25.3%
03/11/03       21,726    14,370    7,356      20.4%
03/18/03       26,880    18,853    8,027      17.6%

Most bearish reading of the year: (8,322) -  1/16/01
Most bullish reading of the year: 15,135  - 10/16/01

Small Traders  Long      Short     Net     % of OI
02/25/03        4,872     8,723    (3,851)   (28.3%)
03/04/03        5,233     8,075    (2,842)   (21.4%)
03/11/03        5,549     7,727    (2,178)   (16.4%)
03/18/03        6,589     8,343    (1,754)   (11.7%)

Most bearish reading of the year:  (8,777) - 10/12/01
Most bullish reading of the year:   1,909  -  1/16/01
-----------------------------------------------------------------




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

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

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

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

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

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

Copyright ) 2003  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 03-21-2003
                                                    section 2 of 3
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
  New Bullish Plays:     NCR
  Bullish Play Updates:  MXIM

Stock Bottom / Active Trader
  Bullish Play Updates:  BBY, TBL
  Bearish Play Updates:  T

High Risk/Reward
  Bullish Play Updates:  BBOX

Split Trader / Stock Splits
  Split Announcements:
                         SLM: 3-for-1 split proposal


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

============
NB New Plays
============

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

NCR Corp. - NCR - close: 20.06 change: +0.74 stop: *text*

Company Description:
NCR Corporation is a leading global technology company helping
businesses build stronger relationships with their customers.
NCR's ATMs, retail systems, Teradata. data warehouses and IT
services provide Relationship Technology(TM) solutions that
maximize the value of customer interactions. (source: company
press release)

Why We Like It:
There are market rallies, and then there are market rallies of
historical proportions.  The past week's action definitely falls
into the latter category.  Anticipating a repeat performance of
the 1991 Gulf War, when stocks rallied as soon as the bombs
started falling, investors began to take positions before the
hostilities even began.  The market continued to zoom higher late
this week as evidence mounted that the Hussein regime could fall
within a matter of days.  Now traders are wondering if this
incredible rally will extend into next week.  The bears could
certainly make a strong argument that stocks are well overdue for
some profit-taking after the Dow rebounded 1100 points from its
lows.  On the other hand, bulls will be using any further
positive events out of Iraq to provide fuel for a continued
uptrend.  These types of rallies also have a way of feeding upon
themselves as mutual fund managers sitting on the sidelines
become fearful of missing out on even more upside action.
Confronted with that possibility, they finally give in and buy
stocks as they continue to rise.  It's a vicious cycle for the
bears.  Some optimists would tell you that the Dow is headed
straight for 9000.  We find that a bit optimistic, but with the
index trading above its 200-dma and no resistance until the
January highs near 8850, a technical case could certainly be made
for additional upside.  Meanwhile the NASDAQ has broken above
resistance at 1400 and could be on course to test its own January
highs at 1460.

Amid this backdrop of large market gains, we've added NCR as a
long play.  The news front has been pretty quiet, with the last
major development occurring on January 23rd when the company
announced an earnings warning.  NCR said it expected an EPS loss
of 45-50 cents in the first-quarter, versus the estimated loss of
24 cents.  This downside guidance pressured the stock in the
weeks that followed.  NCR bottomed out near $17.00 on February
14th and rallied sharply six days later when the company's CEO
put in his resignation.  More recent action has seen NCR move
sharply higher with the rest of the market.  The technical
picture continued to improve on Friday, when shares moved above
resistance at $20.00.  This breakout produced on double-top buy
signal on the point-and-figure chart.  Looking at the daily
chart, you'll see that NCR is moving into the fast-move region
created by the swift decline from $26.00 in mid-January.  This
sell-off was a reaction to the company's announcement that it
would take a $43 million charge against fourth-quarter results.
Although it's hard to make a fundamental case for investing in
this stock, we think short-term traders will be able to take
advantage of the current breakout.  Our goal will be to ride NCR
to the $23.25-$23.50 region, near the December lows.  The action
trigger to enter this play is located at $23.33, a penny above
the January 23rd high.  Our stop will be set at $18.98, under the
descending 50-dma ($19.38) and whole-number support at $19.00.
Traders with a more aggressive strategy could use a stop slightly
beneath Thursday's low of $18.80.

Annotated daily chart - NCR:


Picked on March xxth at $xx.xx <- see text
Results since picked:    +0.00
Earnings Date         04/18/03 (unconfirmed)





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

  --------------------
  Bullish Play Updates
  --------------------

Maxim Integrated - MXIM - cls: 40.51 chg: 0.95 stop: 38.11

It was a tale of two sectors for the NASDAQ on Friday.  On one
hand you had the GSO.X software index, which faded the broader
market bullishness and finished solidly in the red.  The primary
catalyst for this weakness was an earnings warning from Intuit
(INTU), whose shares lost nearly a quarter of their value after
the company issued an earnings warning.  Faring much better was
the semiconductor index.  The SOX.X extended Thursday's uptrend,
outperformed the NASDAQ, and posted a new relative high.  Our
long play in MXIM was activated immediately after the opening
bell when shares gapped higher with the SOX.  Shares continued to
mirror the sector action as the session progressed, tagging a new
relative high of $40.66 in afternoon trading.  Traders still
looking to go long may want to watch for a move above that level
to present an action point.  As we discussed last night, there is
no substantial overhead resistance until the $44-$45 region.
We'd expect MXIM to advance towards that level now that the bulls
have mustered a close above $40.00.  We'll also be monitoring the
SOX to see how it behaves as it approaches resistance at 340-350.

Picked on March 21st at $40.26
Results since picked:    +0.15
Earnings Date         04/30/03 (unconfirmed)






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

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

  --------------------
  Bullish Play Updates
  --------------------

Best Buy Co - BBY - close: 31.14 change: +1.25 stop: 27.99 *new*

The recent rally in the RLX.X retail index has been nothing short
of amazing.  Investors are growing increasingly confident that
the war in Iraq will come to a rapid conclusion, and with no
major casualties for the U.S. forces.  This could be very good
news for the retail sector.  For several months the RLX had been
pressured by speculation that nervousness over the war would have
a negative impact on consumer spending habits.  Those worries
have apparently evaporated.  On Friday the retail index powered
ahead with the Dow and blew past its 200-dma.  Best Buy led the
way with a gain of 4.1%.  Shares marched higher throughout the
session, finding eager buyers during pullbacks to the short-term
pattern of higher lows that began when BBY bottomed out at $29.00
on Thursday morning.  Conservative traders could use a stop just
below $29.00.  Our stop has been raised to $27.99.  We've also
set an official exit target at $34.94.  As far as new entries are
concerned, traders can watch for another pullback to that
ascending trendline (currently near $30.65), which is most easily
visible on a 5-minute chart.

Picked on March 18th at $30.50
Gain since picked:       +0.64
Earnings Date         04/01/03 (unconfirmed)




---

Timberland Co. - TBL - close: 42.39 change: +0.40 stop: 38.74

TBL capped off the week in a fitting way as shares plowed through
resistance at $42.00.  The bears tried their best to defend that
level, but the task to be quite impossible as the Dow exploded
for another huge gain on Friday.  Today's breakout has raised the
possibility that TBL could soon reach our target region at
$45.00.  At this time we're going to place an official profit-
target just below that level at $44.94.  Traders with a slightly
longer timeframe might want to aim for a retest of the 2002 highs
near $46.00.  So what's next for TBL?  The weekly chart shows
possible resistance at the May 2002 highs of $43.00.  Ideally,
we'd like to see TBL pull back and test the $42.00 level before
shares attempt to clear that hurdle.  Such a pullback might give
short-term traders an opportunity to open new long positions.
Those with a conservative strategy can be using a stop just below
psychological support at $40.00.

Picked on March 14th at $40.81
Results since picked:    +1.58
Earnings Date         04/17/03 (unconfirmed)




  --------------------
  Bearish Play Updates
  --------------------

AT&T - T - close: 16.82 change: +0.17 stop: 17.36

Last night we modified our entry strategy for this play.  Our
adjusted entry trigger at $16.48 happened to be the intraday low
in T today.  The stock reached that level in early trading before
rebounding and trading near break-even territory for most of the
session.  A late-day rally pushed the stock to a 1.0% gain as
shorts covered en masse in fear of a quick resolution to the Iraq
war.  But compared to the 235-point gain in the Dow Jones,
today's performance was not especially impressive.  We saw also
noted that shares of SBC Communications (SBC) finished in the
red.  This evidence of sector weakness is encouraging for the
bears.  A retracement of today's intra-session gains and a move
below $16.48 might present a new shorting opportunity.  Of
course, more explosive upside action in the broader market would
probably push T higher next week.  Traders need to be aware of
the volatile geo-political situation and exercise caution when
targeting new entries.  Our stop for this play is set at $17.36.
Traders willing to give T a little more breathing room could use
a stop slightly above $17.50.

Picked on March 21st at $16.48
Results since picked:    -0.34
Earnings Date         04/24/03 (unconfirmed)






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

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

  --------------------
  Bullish Play Updates
  --------------------

Black Box - BBOX - close: 30.45 change: +0.20 stop: 28.69

Equities rallied sharply once the U.S. huge aerial bombardment of
Iraq kicked off on Friday afternoon.  The breadth of those gains
wasn't quite as widespread as recent rally days - particularly in
the tech sector.  An earnings warning from Intuit (INTU) and an
ongoing hangover from Oracle's recent disappointing earnings
report conspired to send the GSO.X software index to a 2.2% loss.
Networking giant CSCO also underperformed the market with a loss
of nearly 1%.  This prevented the NWX.X networking index from
joining stronger tech components (such as the SOX.X) in the
intraday rally.  For its part, BBOX continued to trade in a tight
range on relatively light volume.  Late-session gains pushed the
stock off the $30.15 mark, which acted as a price magnet for much
of the day.  The sector weakness that was displayed today is a
concerning development for the bulls.  But from a technical
standpoint, it's encouraging to see that BBOX traced a higher
high and higher low after rebounding from psychological support
at $30.00.  Conservative traders may want to place their stops
slightly below that level.  We'll probably tighten our stop if
BBOX continues to trade sideways.

Picked on March 19th at $30.86
Results since picked:    -0.41
Earnings Date         05/08/03 (unconfirmed)






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

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

Trading at all-time highs, SLM proposes 3-for-1 split

Prior to the opening bell on Friday morning, SLM Corp. (NYSE: SLM)
announced plans to split its stock by a 3-for-1 ratio.  The
proposal to increase the number of shares (a necessary step before
the split occurs) will be up for shareholder approval at the
company's annual meeting on May 15th.

Shares of the federally-funded student loan provider last split in
1998.  Today's announcement occurred a day after SLM set a new
all-time high after moving through resistance at $110.  The stock
continued higher today as shares rallied with the broader market.
SLM is also showing a double-top buy signal on the point-and-
figure chart.

Shares closed at $112.86 on Friday.  For a current quote, click here:

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

About the company
SLM Corporation commonly known as Sallie Mae, is the nation's
leading provider of education funding, managing more than $78
billion in student loans for more than seven million borrowers.
The company primarily provides federally guaranteed student loans
originated under the Federal Family Education Loan Program
(FFELP), and offers comprehensive information and resources to
guide students, parents and guidance professionals through the
financial aid process. (source: company press release)



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

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

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

*****************************************************************
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Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

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

Copyright ) 2003  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter         Weekend Edition 03-21-2003
                                                   Section 3 of 3
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 three:

Market Watch for Week of March 24th
   - Major Earnings
   - Stock Splits
   - Economic Reports

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)

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


==========================================
Market Watch for the week of March 24th
==========================================

------------------------
Major Earnings This Week
------------------------

Symbol  Company               Date           Comment      EPS Est

------------------------- MONDAY -------------------------------

UL     Unilever PLC          Mon, Mar 24  During the Market   0.54
WAG    Walgreen              Mon, Mar 24  -----N/A-----       0.36


------------------------- TUESDAY ------------------------------

APOL   Apollo Group          Tue, Mar 25  -----N/A-----       0.20
L      Liberty Media Group   Tue, Mar 25  -----N/A-----      -0.09
LNR    LNR Property          Tue, Mar 25  After the Bell      1.04
MKC    McCormick & Company   Tue, Mar 25  Before the Bell     0.26
RHAT   Red Hat, Inc.         Tue, Mar 25  After the Bell      0.01


-----------------------  WEDNESDAY -----------------------------

CEO    China Natl Offshr Oil Wed, Mar 26  -----N/A-----        N/A
SID    Comp Sider Nacional   Wed, Mar 26  After the Bell      1.34
ERJ    Emb-Emp Brasil Aero   Wed, Mar 26  After the Bell      0.50
SIGY   Signet Group          Wed, Mar 26  Before the Bell     2.57
SCM    Swisscom AG           Wed, Mar 26  Before the Bell      N/A


------------------------- THURSDAY -----------------------------

CAG    ConAgra Foods, Inc.   Thu, Mar 27  Before the Bell     0.30
EN     Enel S.p.A.           Thu, Mar 27  -----N/A-----        N/A
FIA    Fiat S.p.A.           Thu, Mar 27  -----N/A-----        N/A
GUC    Gucci Group NV        Thu, Mar 27  -----N/A-----       0.80
TKA    Telekom Austria AG    Thu, Mar 27  Before the Bell      N/A
VIP    Vimpel Communications Thu, Mar 27  During the Market    N/A


------------------------- FRIDAY -------------------------------

BNG    Benetton Group        Fri, Mar 28  -----N/A-----        N/A


----------------------------------------------
Upcoming Stock Splits In The Next Two Weeks...
----------------------------------------------

Symbol  Company Name              Ratio    Payable     Executable

ANPI    Angiotech Pharm           2:1      Mar. 21st   Mar. 14th
PSS     Payless Shoe              3:1      Mar. 27th   Mar. 28th
UGI     UGI Corp.                 3:2      Apr.  1st   Apr.  2nd
CTSH    Cognizant Technology      3:1      Apr.  1st   Apr.  2nd


--------------------------
Economic Reports This Week
--------------------------

Can you imagine Wall Street watching any else but the War
Coverage on Iraq next week?  Maybe during a lull in the T.V.
coverage analysts will key in on the Consumer Confidence
numbers, home sales, and Personal income and spending reports.

==============================================================
                       -For-

Monday, 03/24/02
----------------
None


Tuesday, 03/25/02
-----------------
Consumer Confidence(DM) Mar  Forecast:   63.0  Previous:     64.0
Existing Home Sales(DM) Feb  Forecast:  5.85M  Previous:    6.09M


Wednesday, 03/26/02
-------------------
Durable Orders (BB)     Feb  Forecast:  -1.0%  Previous:     2.9%
New Home Sales (DM)     Feb  Forecast:   928K  Previous:     914K


Thursday, 03/27/02
------------------
Initial Claims (BB)   03/22  Forecast:    N/A  Previous:     421K
GDP-Final (BB)           Q4  Forecast:   1.4%  Previous:     1.4%
Chain Deflator-Final(BB) Q4  Forecast:   1.6%  Previous:     1.6%
Help Wanted Index (DM)  Feb  Forecast:     40  Previous:       40


Friday, 03/28/02
----------------
Personal Income (BB)    Feb  Forecast:   0.2%  Previous:     0.3%
Personal Spending (BB)  Feb  Forecast:  -0.1%  Previous:    -0.1%
Mich Sentiment-Rev.(DM) Mar  Forecast:   75.0  Previous:     75.0


Definitions:
DM=  During the Market
BB=  Before the Bell
AB=  After the Bell
NA=  Not Available


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

ONE     Bank One                   36.97     +1.02
BAC     Bank of America            70.50     +0.98
HD      Home Depot                 25.78     +0.86
YUM     Yum Brands                 25.75     +0.81
HRB     H&R Block                  43.44     +0.72
MAY     May Department Stores      21.51     +0.59
FTN     First Tennessee Natl.      39.93     +0.78
PNR     Pentair Inc                37.55     +1.20

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

LUV     Southwest Airlines         15.28     +1.04
EDS     Electronic Data Systems    17.63     +1.87
BKS     Barnes & Noble             19.80     +1.05
CAL     Continental Airlines        6.82     +1.57
SSYS    Stratasys Inc              13.00     +1.25
ING     ING Group                  13.70     +1.33

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

MMM     3M Company                134.37     +3.76
JPM     JP Morgan                  24.65     +1.12
SLM     SLM Corp                  112.86     +3.07
TEVA    Teva Pharmaceutical        41.74     +1.83
ECL     Ecolab Inc                 51.71     +1.07
PH      Parker Hannifin            42.04     +1.47
VAR     Varian Medical Sys.        52.29     +1.90
CBE     Cooper Industries          38.78     +1.07
WFMI    Whole Foods                57.85     +1.02
RBK     Reebok Intl.               33.42     +1.12

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

FTE     France Telecom             21.29     -1.21
STT     State Street Corp          34.11     +4.39
NOC     Northrop Grumman           82.35     -2.60
ATK     Alliant Tech Sys.          48.90     -2.45
SGY     Stone Energy               30.85     -1.45
DRS     DRS Technologies           24.15     -1.41

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

                             




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