PremierInvestor.net Newsletter Tuesday 07-29-2003 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: Saddam Put Watch List: VAR, BOL, MDT, KMB and more! Market Sentiment: Intermarket signals ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 07-29-2003 High Low Volume Advance/Decline DJIA 9204.46 - 62.10 9289.69 9168.26 1.71 bln 1218/2001 NASDAQ 1731.37 - 4.00 1744.60 1713.21 1.69 bln 1564/1630 S&P 100 497.85 - 3.64 502.92 495.41 Totals 2782/3631 S&P 500 989.28 - 7.24 998.64 984.15 W5000 9542.12 - 54.30 9618.71 9489.23 RUS 2000 473.60 - 0.23 476.04 469.70 DJ TRANS 2618.37 - 4.40 2635.90 2609.36 VIX 20.23 + 0.30 21.07 19.96 VXN 30.16 - 0.24 31.82 29.81 Total Volume 3,683M Total UpVol 1,312M Total DnVol 2,309M 52wk Highs 456 52wk Lows 67 TRIN 1.31 NAZTRIN 1.24 PUT/CALL 1.01 ================================================================= =========== Market Wrap =========== Saddam Put The Saddam put overruled the Consumer Confidence short this morning and continued to rule all day. The disaster in the economic numbers was ignored once when rumors of a Saddam capture filtered through the markets. I am going to check EBAY tonight and see if I can find a used "rumor mill" of my own. Dow Chart Nasdaq Chart Despite the improved guidance from Wal-Mart this week the Chain Store Sales snapshot fell -0.3% following three weeks of gains. Food, drugs and seasonal goods helped hold the line but apparel weakened. Warmer weather, as in blistering in the southwest, has helped power the seasonal product sales. We are rapidly entering the back to school phase and consumers should be receiving tax credit checks and more take home pay by now. This should help to maintain the consumer sales for the next month. The downside is the drop in refi applications and the drying up of the home equity pipeline. The higher interest rates will not immediately hit Wal-Mart shoppers but major appliances, autos and big ticket goods could be softer soon. The biggest shocker of the day was the dramatic drop in the Consumer Confidence to 76.6 from 83.5. The index hit a plateau at 83.5 for May/June and it appears the bloom is off the rose. The rising interest rates, volatility in the market and higher unemployment continues to drag on optimism. This was the lowest level since March and countered expectations for a small gain. The biggest drop was in the expectations component, which fell -10 points to 86.4 and erased the majority of the gains from May/June. The present situations component dropped for the third month in a row. The current conditions component is at the lowest level since 1994. If the Jobless Claims on Thursday and the Nonfarm Payrolls on Friday show increases in unemployment the confidence numbers could get ugly fast. Everyone is betting on the post war rebound and that rebound is turning into more tortoise than hare. On Wednesday we will get the Fed Beige Book, Chicago Fed National Activity Index, Mortgage Applications and the Consumer Comfort Index. The CFNAI has been negative for nine of the last ten months and it is expected to be negative again tomorrow. The May Beige Book had shown some limited postwar improvement with the main support in the housing market. Despite the pickup the overall tone was somber and the outlook is for more of the same this month. The Comfort Index was trending down for the past two weeks and it will be interesting to see if the trend accelerates or breaks in light of the Consumer Confidence. The mortgage application index has also been trending down since the May-30th number of 1,856 with a 1,284 last week. It is doubtful it has improved much in a week with 30-year mortgages back at 6.0%. Needless to say there may not be much economic excitement on Wednesday but there is the potential for upside surprise. Since the outlook is not exciting any negative news could be covered by the Saddam put and we continue to trade sideways. Our enemy is not Saddam any more but the bond market. The ten-year yield closed at 4.4% and a 52-week high. This bond disaster is going to continue to spiral out of control until something happens to break the trend. The terrible Confidence number today only slowed the selling for a few minutes before it promptly began again in earnest. The good news is that some of the money is finding its way into the stock market. The bad news is that the rapidly rising interest rates could produce a death blow to the barely conscious recovery. The earnings parade continues and as of last night 326 S&P companies have reported earnings. According to First Call 66% beat estimates, 22% were inline and only 12% missed estimates. Earnings are showing around +15% growth and slightly better than the +14% estimates. Those would be very good numbers if they were actually from sales. The majority of earnings gains have been from cost cutting and not repeatable. Another significant source of earnings surprises have been currency gains due to the weak dollar. This is also not repeatable. With warnings for the 3Q running 2:1 over positive guidance it is not a positive picture. Some of those warnings are coming from companies that touch all of the American economy. Jones Apparel warned today that consumer spending was very uncertain and earnings would be down for the quarter and the year. ADP, a nationwide payroll processor, warned that they were seeing very little improvement in the economy. The largest furniture maker in the country, FBN, also warned last week that they were seeing no improvement in the economy. FedEx was cut today based on falling small package deliveries. NVDA missed estimates and said the next quarter will be below estimates. Positive performance came from MCD, DD, ALA and AHC with TYC posting a profit and restating earnings again going back to 1998. Other negative news included a warning from the State Dept that Al-Queda is planning more suicide hijackings of airliners before the end of the summer. Quoting specific and credible information from detainees and corroborated by other intelligence they said the attacks could take the form of flights coming into the U.S. from other countries. They suspect five person teams with weapons hidden in things like cameras and laptops. With the anniversary of 9/11 quickly approaching I would not doubt the threat exists. However, the market ignored the warning due to the Saddam put. Basically most traders believe that Saddam will be caught/killed in the next several days. We are getting constant chatter out of Iraq that the noose is tightening and he is running out of places to hide. Every day more contacts are arrested, today was his personal bodyguard and hundreds of tips are reported received daily since Udai and Qusai were killed. Traders expect the event to produce an instant market rally that could add +300 points and push us over the current 9300 ceiling. With this event expected any day there is no interest on the part of the bears to short aggressively. Bulls are buying the dips on the hope of quick profits on the bounce. Thus, the market has an insurance put in the form of an expected Saddam capture. That expectation was responsible for a vertical +100 point rebound off the Dow bottom today when a brief rumor hit the floor that Saddam had been killed. There was a brief bout of selling when the news turned out to be a new Saddam tape calling his sons martyrs instead but the selling was brief. It showed the put was alive and well and had not expired. The trend was broken today. For the first time in 10 weeks the Nasdaq closed negative on a Tuesday. It was not a major loss, only -4 points. The Dow has closed negative for two consecutive days. That is about the only negative points I can make. The market action is very bullish and the Dow held 9200 with fierce determination at the close. Same with Nasdaq 1725. They refuse to give up the gains from the last couple weeks and the Dow has now traded within arms length of 8300 each of the last four days. It is building a very impressive bullish wedge at 9300 and were it not for the Confidence today we could have easily broken out. I say easily but there is strong resistance at that level which must first be overcome. The more important levels are S&P 1000 and 981. This is the broad market support and resistance which must be overcome before the market can make any major moves. 981 is the 50 DMA on the S&P. S&P Chart With the Saddam put in place any negative economic news on Wednesday is likely to have limited impact. That may not be true on Thr/Fri when the economic reports are critical and plentiful. We will have the GDP, ECI, PMI, Help Wanted Index and Jobless Claims on Thursday. Friday has Nonfarm Payrolls, Michigan Sentiment, ISM, Personal Income/Spending and Construction Spending. It is going to take a lot more specific and credible rumors to protect the bulls if those reports turn negative like Consumer Confidence did today. The markets are poised to move big and the only question is which way. The trading range is slowly narrowing and the breakout in either direction could be sharp and quick. Keep those stops in place regardless of the direction you are expecting. Enter Very Passively, Exit Very Aggressively! Jim Brown ================================================================== 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 --------------------------------- Varian Medical Systems Inc. - VAR - close: 62.30 change: +1.36 WHAT TO WATCH: Looking for a relentless bullish trend? Then VAR might be just what you're looking for, as the stock has been persistently chugging up the chart. A pullback to the $61 area might provide an early (and aggressive entry), but the best approach would be to wait for the breakout above $63 before playing. --- Bausch & Lomb - BOL - close: 40.96 change: +1.09 WHAT TO WATCH: Can you say overdone? We knew that you could! Shares of BOL exploded upward on Tuesday in response to the company's announced offer to sell $120 million in convertible notes. Looking at the chart, BOL broke to a new 52-week high on the move, but looks vulnerable to a near-term pullback to confirm the $39.50-40.00 area as new support. Use a rebound from that area to enter a bullish position for a run up towards the 2002 highs in the $44-45 area. --- Medtronic - MDT - close: 51.12 change: +0.45 WHAT TO WATCH: MDT is one of those stocks that is incredibly consistent, working gradually higher for months on end before pulling back to a higher low and continuing the process. The stock just completed that latest pullback in early July and over the past week has rallied right through major resistance at $50. A pullback to that breakout level would set up a solid entry for what looks like another slow and steady upward leg. The only near-term obstacle is the December 2001 relative high near $51.70, and then MDT appears to have the $54 resistance level in sight. --- Kimberly Clark Corp. - KMB - close: 48.77 change: -0.19 WHAT TO WATCH: It won't set any land-speed records, but KMB definitely seems to be breaking down. Yesterday's tentative break of the $49 support level was confirmed today with a violation of the 200-dma and it looks like only a matter of time before the stock back to major support in the $45-46 area. With major resistance at $50, entries on a failed rebound attempt will provide the best risk to reward ratio. --- Mercury Interactive - MERQ - close: 40.22 change: -0.94 WHAT TO WATCH: Uh-oh! Just last week, we were looking at shares of MERQ with a bullish tinge to our glasses, but the price action this week is forcing us to re-think that stance. The rebound we were looking for never materialized and today's close below the 50-dma (the first since the middle of April) seems significant. Should $40 support give way, the stock appears vulnerable to $38 in short order, with a drop to the $35-36 area a very real possibility. =================== On the RADAR Screen =================== OMC $74.28 - It may be a bit too soon to play OMC after the company's solid earnings report this morning, but the chart certainly looks tempting. It has been consolidating between $70- 75 for the past 6 weeks and if the bulls can manage a breakout over $75 (preferably the 6/18 intraday high of $76.43), it could really gain some upward traction, possibly pushing as high as $85. BDK $40.50 - Apparently last week's earnings release did not provide the good news investors were looking for, as shares of BDK are getting hit hard, losing more than 2% again today and breaking both $41 support and the 200-dma. Bearish continuation will have the stock vulnerable to $38 at a minimum and most likely into the $35-36 area. UTX $76.74 - Shares of UTX have been creeping up on major resistance over the past couple weeks after cresting the $75 level. The 2002 high was $77.75 and if the stock can clear that level, it should have the bulls targeting $80 and then possibly $85. Note how the 10-dma has been providing support -- look for that pattern to continue, and pullbacks near this moving average can be used for aggressive entry ahead of the expected breakout. =============================== Market Sentiment =============================== Intermarket signals Jonathan Levinson We've been following the "bottomy" volatility indices and "toppy" bullish percents for weeks. We can add intermarket analysis to help supplement the picture. Treasury bonds sold off today, reaching lows not seen since mid- 2002, and while gold and silver corrected today, they are in strong recent up trends and breaking out in bullish chart patterns. Through it all, equities have remained firm at current levels, and fear remains low. As the spring rally in treasuries progressed, I recall hearing talk that falling yields were bullish for stocks, because the growth and yield prospects of stocks increased relative to bonds. I've been hearing none of this as bonds have continued to sell off sharply for over 1 month, and equities have managed to hold relatively firm despite strongly rising yields. Throughout the year, many have speculated that money flows from stocks to bonds and back again, but this hasn't been supported by the trend. In fact, equities and bonds rallied together all through the spring. With treasuries correcting sharply and yields printing year highs day after day, equity bulls have reason to be concerned. The action in the precious metals market is also significant, as gold and silver tend to be viewed as a "put" on the financial system, to quote an author whose name escapes me. While neither of these intermarket relationships will generate specific buy or sell signal on its own, in combination with the low VIX, VXN and QQV, high bullish precents and overall bullish market sentiment, bullish traders should be exercising caution. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 9353 52-week Low : 7197 Current : 9204 Moving Averages: (Simple) 10-dma: 9165 50-dma: 9037 200-dma: 8509 S&P 500 ($SPX) 52-week High: 1015 52-week Low : 768 Current : 989 Moving Averages: (Simple) 10-dma: 989 50-dma: 881 200-dma: 908 Nasdaq-100 ($NDX) 52-week High: 1316 52-week Low : 795 Current : 1275 Moving Averages: (Simple) 10-dma: 1266 50-dma: 1224 200-dma: 1083 ----------------------------------------------------------------- Despite the markets weakness in Tuesday's session the volatility indices barely budged and remained near yearly lows. Essentially, they are telling observers that investors are still too bullish. CBOE Market Volatility Index (VIX) = 20.23 +0.30 Nasdaq-100 Volatility Index (VXN) = 30.16 -0.24 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 1.01 494,015 497,136 Equity Only 0.92 390,495 358,803 OEX 0.75 26,017 19,428 QQQ 6.93 24,971 173,067 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 69.7 + 0 Bull Confirmed NASDAQ-100 75.0 + 0 Bull Confirmed Dow Indust. 86.6 + 7 Bull Confirmed S&P 500 77.2 + 2 Bull Correction S&P 100 84.0 + 2 Bull 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 1.04 10-Day Arms Index 0.96 21-Day Arms Index 1.02 55-Day Arms Index 1.10 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 -NYSE- -NASDAQ- Advancers 1150 1505 Decliners 1688 1526 New Highs 109 146 New Lows 32 6 Up Volume 542M 736M Down Vol. 1107M 928M Total Vol. 1676M 1685M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 07/22/03 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 Not much new for us to decipher in the full contracts of the S&P 500 futures. Commercials remain slightly next short and the small traders remains significantly net long, expecting the markets to rise. Commercials Long Short Net % Of OI 07/01/03 415,976 453,005 (37,029) (4.3%) 07/08/03 415,053 453,720 (38,667) (4.5%) 07/15/03 414,020 453,033 (39,013) (4.5%) 07/22/03 411,206 442,131 (30,925) (3.6%) Most bearish reading of the year: (111,956) - 3/06/02 Most bullish reading of the year: 18,486 - 6/17/03 Small Traders Long Short Net % of OI 07/01/03 150,232 75,937 74,295 32.8% 07/08/03 152,239 74,749 77,490 34.2% 07/15/03 148,716 70,279 78,437 35.8% 07/22/03 155,891 76,466 79,425 34.2% Most bearish reading of the year: (1,657)- 5/27/03 Most bullish reading of the year: 114,510 - 3/26/02 E-MINI S&P 500 In contrast to the full size S&P contracts above, the E-minis is showing a drastic change. Commercial traders have been moving from net short to net long the last four weeks and the longs have finally out numbered the shorts. Right on cue, the small traders have turned the most bearish they have been in months. Commercials Long Short Net % Of OI 07/01/03 175,893 216,993 (41,100) (10.5%) 07/08/03 192,815 224,124 (31,309) ( 7.5%) 07/15/03 214,274 218,765 ( 4,491) ( 1.0%) 07/22/03 249,392 249,386 6 0.0% Most bearish reading of the year: (354,835) - 06/17/03 Most bullish reading of the year: 6 - 07/22/03 Small Traders Long Short Net % of OI 07/01/03 57,639 67,449 (9,810) (7.8%) 07/08/03 56,394 72,090 (15,696) (12.2%) 07/15/03 45,372 54,654 (9,282) (9.3%) 07/22/03 45,945 76,071 (30,126) (24.7%) Most bearish reading of the year: (30,126) - 07/22/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 There is little change in the NDX futures by the commercial traders or small traders. Commercials Long Short Net % of OI 07/01/03 28,662 48,265 (19,603) (25.5%) 07/08/03 30,489 48,311 (17,822) (22.6%) 07/15/03 28,467 49,154 (20,687) (26.7%) 07/22/03 32,502 48,139 (15,637) (19.4%) Most bearish reading of the year: (20,687) - 07/15/03 Most bullish reading of the year: 9,068 - 06/11/02 Small Traders Long Short Net % of OI 07/01/03 26,777 8,498 18,279 51.8% 07/08/03 26,136 9,035 17,101 48.6% 07/15/03 26,489 8,004 18,485 53.6% 07/22/03 27,321 8,844 18,477 51.1% 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 Commercial traders are becoming even more bullish on the Industrials while small traders are slowing increasing their net short positions. Commercials Long Short Net % of OI 07/01/03 20,504 11,871 8,633 26.7% 07/08/03 20,752 11,860 8,892 27.3% 07/15/03 21,607 7,855 13,752 46.7% 07/22/03 22,198 8,176 14,022 46.2% 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 07/01/03 5,799 6,822 (1,023) ( 8.1%) 07/08/03 5,005 8,093 (3,088) (23.6%) 07/15/03 5,475 9,717 (4,242) (27.9%) 07/22/03 6,110 10,898 (4,788) (28.2%) Most bearish reading of the year: (8,777) - 10/12/01 Most bullish reading of the year: 1,909 - 1/16/01 ----------------------------------------------------------------- ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright ) 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Tuesday 07-29-2003 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 ================================================================= Play of the Day: Confirmed Breakout 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) ================================================================= Play-of-the-Day (bullish) =============== Henry Schein - HSIC - cls: 58.69 chng: +1.08 stop: 55.00*new* Company Description: Henry Schein is the largest provider of healthcare products and services to office-based practitioners in the combined North American and European markets. Recognized for its excellent customer service and low prices, Henry Schein serves more than 400,000 customers worldwide, including dental practices and laboratories, physician practices and veterinary clinics, as well as government and other institutions. (Source: Company Press Release.) Why we like it: Party all day. That's what happened with HSIC on Friday. HSIC didn't wait for the afternoon rally to begin and then decide to participate. HSIC rallied all day, from beginning to last. Its more than three percent climb outperformed the RXP, the Morgan Stanley Health Care Products Index. Although HSIC is not a component of the RXP, the comparison appears appropriate. While we wished HSIC had rallied with more than 70 percent of its usual average daily volume, we can't ask for everything and we got nearly everything else. HSIC tested and then sprang up from its 21-dma, marked in blue on the chart. It also tested and sprang up from the midline support on the regression channel that has been containing its prices since February. Since May, that midline has supported HSIC on most pullbacks, with nary a touch of the lower supporting trendline since April. Best of all, HSIC achieved an all-time closing high. One caution exists when studying both the P&F and bar charts, as some resistance shows up just above $57.00 on both. With an all- time closing high under its belt, we don't believe that level will pose a problem, but worried traders could enter after HSIC surpasses its all-time intraday high of 57.73. Everything seems in line for this play to work well, but it's got to work quickly. HSIC reports Tuesday, August 5, so we'll be closing the play at the end of next week. Traders can enter at current levels or on another pullback and bounce from the 21-dma. Why This is our Play of the Day It is always pleasant when a bullish play completely ignores the gyrations in the broad market and just goes up. That's certainly what has transpired with our HSIC play this week, as the stock pushed above $57.50 for a new 52-week high on Monday and followed that up with a breakout over $58 today, setting a new all-time high. Over the weekend, we lamented that we wanted to see the stock exhibit stronger buying volume and that piece of the puzzle finally materialized on Tuesday with 650K shares trading hands, well in excess of the ADV. So what now? HSIC has earnings on the docket for August 5th, so that means one more week until we'll have to close this one out. But the way things are going, it certainly looks like higher levels are in store. The next obvious target is the round number resistance at $60 and conservative traders may want to consider harvesting partial gains there. Should we get a pullback first, new entries can be considered on a rebound from the $56.50-57.00 area, the site of former resistance. We're raising our stop to $55.00 tonight, which is just below the strongly supportive 20-dma ($55.33). Annotated Chart of HSIC: Picked on July 27th at $56.75 Change since picked: +1.94 Earnings Date: 08/05/03 (confirmed) Average Daily Volume: 402 K ================== 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 AET Aetna Inc 68.49 +1.03 MGA Magna Intl 75.07 +0.72 HMA Health Mgmt Assoc. 20.61 +1.02 HNT Healthnet Inc 35.61 +0.83 CBSH Commerce Bancshares 42.46 +0.60 UHS Universal Health Svs 51.74 +2.64 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- KEA Keane Inc 14.90 +1.64 AAI Airtran Hldg 12.85 +1.17 IPXL Impax Labs 13.39 +1.39 WNC Wabash National 17.00 +1.64 SANG Sangstat Medical 16.29 +1.96 FLSH M-Systems Flash Disk 14.98 +1.03 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- SYK Stryker Corp 78.35 +2.87 HSIC Henry Schein Inc 58.69 +1.08 BOL Bausch & Lomb Inc 40.96 +1.09 TRI Triad Hospitals 30.45 +1.92 CYH Community Health Systems 21.56 +1.76 NTES Netease.com 50.76 +6.35 SEM Select Medical 28.60 +2.20 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- MRK Merck & Co 55.37 -1.29 BVF Biovail Corp 38.50 -4.04 NFS Nationwide Fincl Svs 30.33 -3.17 DOX Amdocs Ltd 20.25 -1.61 JNY Jones Apparel Group 28.96 -3.11 RCII Rent-A-Center Inc 72.00 -6.39 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- . None .. ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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