PremierInvestor.net Newsletter Thursday 08-28-2003 section 1 of 2 Copyright (c) 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: Showdown at Jackson Hole Watch List: UOPX, HAR, TGT, CR and more! Market Sentiment: Q2 GDP on fire! ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 08-28-2003 High Low Volume Advance/Decline DJIA 9374.21 + 40.40 9392.59 9261.57 1.41 bln 2192/ 978 NASDAQ 1800.18 + 18.10 1800.65 1772.98 1.44 bln 1942/1225 S&P 100 501.24 + 2.51 502.07 495.90 Totals 4134/2203 S&P 500 1002.84 + 6.05 1004.12 991.42 W5000 9719.88 + 68.20 9728.74 9603.52 RUS 2000 495.81 + 4.89 495.81 487.90 DJ TRANS 2668.45 + 35.80 2672.05 2629.65 VIX 19.93 - 0.41 21.31 19.81 VXN 30.31 + 0.26 31.47 30.13 Total Volume 3,058M Total UpVol 2,223M Total DnVol 763M 52wk Highs 554 52wk Lows 37 TRIN 0.85 NAZTRIN 0.57 PUT/CALL 0.61 ================================================================= =========== Market Wrap =========== Showdown at Jackson Hole The markets displayed a bipolar personality on Thursday as traders prepared to get the lowdown at the showdown. Greenspan speaks on Friday morning on Monetary Policy and Uncertainty and by all accounts this will be a pivotal speech. Bond traders are ticked about the hide and seek game that sent bonds to a 45 year high and then no follow through from the Fed. Analysts expect Greenspan to clearly lay out the plan for future policy and a failure to do that could be very negative. Word games are history, they want to hear some hard policy. Dow Chart Nasdaq Chart S&P Chart The day started out positive with Jobless Claims rising +3000 to 394,000. One more week below 400,000 but only barely. The four-week moving average rose to 396,250 and continuing claims rose +26,000 to 3.657 million. The headline number was lower than I expected after the blackout but we are still two weeks away from the week I expect to reflect the true numbers. The week ending 9/12 would be the first week after the Labor Day holiday marks an end to summer. It is the "back to work" bell and those putting off the task will have to punch the alarm and trudge off to the employment office to begin the hunt again. While the Labor Dept claimed there was no impact due to the blackout last week, they revised that number up +5,000 to 391,000 this week due to the blackout. The most surprising report for the day was the GDP for the 2Q. It was revised up to +3.1% from +2.4% when everyone expected a major downward revision. The revision was due to higher consumer spending than was previously expected at +3.8%. Corporate profits were up +10.8% and the 3rd consecutive quarterly gain. Durable goods consumption rose to 24.1% from 22.6% in the first estimate. Inventories fell -$20.9 billion, down from the prior estimate of -$17.9 billion. The inventory drop was attributed to fear of a lingering war and the impact on the economy. It is likely this drop in inventories is what prompted the bounce in the July economic numbers as that pipeline was replenished after the quick war and the victory over SARS. This is a very bullish report and shows an economy that is growing much faster than previously thought. The only problem is it reflects the second quarter and we are nearing the end of the third. With all the cautious comments out of the tech companies it is not clear if this bounce has legs or it has already run its course. Supporting the GDP view was the Chicago Fed National Activity Index which came in at -0.20 and much improved over the -0.32 in June. This was the third consecutive monthly improvement but it is still moving very slowly and indicates a below normal growth trend. Employment was the major laggard and continues to decline at 6.2%. The most negative report for the day was the Monthly Mass Layoffs which showed there were 2,087 mass layoffs which will put 226,435 employees out of work. With the announcements in July the layoffs will normally occur over the next 90 days. That puts us right in the middle of the actual job cuts now. We will see what real impact this has when the Nonfarm Payrolls are announced next Friday. As usual manufacturing bore the brunt of the pain with -136,410 job losses. This was up from only -40,845 in June. The headline number at 226K was an increase of nearly 70,000 over the June numbers. State and local governments were responsible for 7% of the job cuts as the local budgets are still recoiling from the bubble in tax income. The economy will continue to grow slowly with a constant loss of jobs and rising unemployment. You must have a paycheck to consume more than basic necessities. Forrester Research said they saw 3.5 million white-collar jobs leaving the US over the next ten years with the primary beneficiary being India. This is above the 10 million blue-collar jobs expected to flow out of country in the same period. Tough to pay $20 an hr in the US when you can pay $1 an hour overseas with far fewer taxes and benefits. Getting a job is still a challenge with the Help Wanted Index still flat at 38 and only barely improved from its May low of 35. The labor markets are not showing any increase in hiring and the headline number is still six points below the July numbers from 2002 when employment was terrible. While the hiring may have bottomed in May it is not growing and it could set a stage for a greater than 6.2% unemployment number next week. The Jobs Report has shown six consecutive months of job losses, nearly -500,000, and the estimates are for a minimal gain of +10,000 in August. I find that hard to believe but analysts are hugging the unchanged line so they can be close to right either way it goes. If the Jobs Report were to show a large negative OR a large positive it would directly impact the current market sentiment in a big way. We are priced for perfection as they like to say. Friday will be focused entirely on the Greenspan speech despite a flood of economic reports. We have PMI, NY-NAPM, Personal Income, Risk of Recession and Michigan Sentiment again. All but the PMI are before the open. The speech is at 10:EDT and we will probably get the script a few minutes ahead of the intro. Greenspan has typically used this particular speech to explain why he has made the decisions in the past and what decisions we can expect in the future. Considering the concern over his head fake on bonds earlier this year and the resulting implosion he will be hard pressed to prove he is in control of anything but his personal checkbook. This is why analysts think we could see fireworks. This is his best chance to seize control once again or go down in flames for what could be his final fling. There are rumors that he could be replaced when his term is over due to the lingering impact of the stock market implosion. Surpluses turned to deficits and retirement accounts were decimated. The rumor is that Bush may want to cut the ties to Greenspan's handling of the event and put a new horse on the hot seat. Ball is in your court, Alan. Art Cashin said on Thursday that if Alan disappoints traders will be fleeing the market in planes, trains, buses, taxis and any other vehicle they can find to escape the carnage. That may have been an overstatement based on Thursday's performance. Impacting our markets on Thursday was any lingering end of month rebalancing or posturing and we had a couple serious buy and sell programs. The first sell program hit at 9350 and knocked the Dow back to nearly 9250 before it expired. The bounce was not immediate but two buy programs at 11:10 and 12:35 managed to push the index back the 9340 level where it hit a wall for the rest of the afternoon. The Nasdaq broke out of its 1782 resistance at the open and despite the early sell program it rebounded back over that level very quickly. The S&P was fighting a different battle and after hitting the electric fence at 1000 on the initial bounce it struggled all day to return to that level. Strong resistance at 998 kept the lid on it, at least until 3:PM. Once the bond market closed at the high of the day the stock market exploded past resistance on strong volume. At least strong for a pre holiday Thursday. The Nasdaq led the charge and shot up to close at 1800 and a 17 month high. The rest of the indexes were dragged higher by the tech strength. The S&P hit 1004 and closed very near to that high. The Dow finally broke over the 9340 resistance and ended at 9382 and very close to the 9392 high. This was a very bullish reversal of the decline that began last Friday at 9500. The Dow fell to 9233, a -267 point drop from the high and has now retraced back to 9382. Very bullish when you remember what season we are in. After the closing rally we are priced even more to perfection considering the Friday events ahead of us. After the close we got mid quarter updates from chip companies NVLS and IDTI. NVLS affirmed estimates with no increase but said they were going to take a $70 million charge to write down excess inventory. The market did not like the concept of inline affirmation and excess inventory and the stock lost $1 in after hours. IDTI affirmed estimates and said revenues would be flat to down -4%. They also lost ground in after hours. Ironically, even after a record day the Nasdaq futures barely even blinked. The SOX has soared back over 450 from its 425 low on Tuesday. It will be interesting to see what happens to it tomorrow. There is a good chance there will be some short covering at the open if Europe/Asia rallies on our performance. If so then we could break 1800 with volume and cause yet another wave of gains before Greenspan even begins speaking. The short interest on the Nasdaq is huge with most professional traders and institutions betting on the historical August and September decline. The bears are going crazy and tomorrow should push them a little farther over the edge. Do they cover at the open or wait and hope Greenspan eats his foot and the market tanks. Tough riding on the bleeding edge and if you are short in front of this market you are bleeding. The bottom line for tomorrow. It all depends on Greenspan and the betting line is he better have a grandstand performance or we could see some strong weakness. How long that weakness lasts is another matter. The day after Labor Day has been up seven of the last eight years. Do you think the bulls are betting on another repeat and the bears are staying out of the way? Could be. Buy the dips until the trend changes but be aware it could change at any moment. Enter Very Passively, Exit Very Aggressively! Jim Brown Editor ================================================================== 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 --------------------------------- University of Phoenix Online - UOPX - close: 64.50 change: +5.17 WHAT TO WATCH: We keep wondering when this bullish run in the Education stocks is going to end, and they keep breaking out to new highs, driven by the reality that more and more people are trying to retool for the changing and ever more challenging job market. UOPX pulled back over the past week and then blasted sharply higher on Thursday, largely due to the strong guidance provided by fellow education company APOL. We don't like the idea of chasing such a strong move, but a pullback and rebound from the $61-62 area looks good for an entry into this well- established trend. --- Harmon International Ind. - HAR - close: 96.99 change: +3.36 WHAT TO WATCH: Will it never end? HAR has been on a high-volume ramp for the past 3 days as the shorts are getting creamed and rushing to cover. On Tuesday, the company handily beat estimates, and yesterday CSFB raised their target to $105. This ramp can't go on forever and with the stock up nearly $10 in the past 3 days, we certainly don't want to chase it. But a pullback near $94 might make for a nice continuation entry for those that like to live on the edge. The better entry would be on a drop and consolidation near $90, but judging by the heavy buying volume, that doesn't appear likely in the near term. --- Target Corp. - TGT - close: 40.22 change: +1.10 WHAT TO WATCH: We've looked at TGT here in the not-so-distant past, as it has been consolidating near $40 for the past two months. With the Retail index (RLX.X) still surging to new yearly highs, TGT is starting to poke through that $40 barrier and this looks like a good point to climb aboard. Intraday dips near $39 may provide a slightly better entry. While there's some resistance near $42, we're looking for the stock to climb to stronger resistance at $44, with an outside chance at a run towards the 2002 highs at $46. --- Crane Co. - CR - close: 25.55 change: +0.21 WHAT TO WATCH: Nobody will mistake this for an exciting stock, but sometimes dependability is better. CR has been working higher in an ascending channel for nearly 5 months and the dip and rebound from the 20-dma (also the bottom of the channel) this week looks like a favorable entry point. The stock isn't a fast mover, but looks like it could work higher to the $28 area, where there is solid resistance from last April and May. --- =================== On the RADAR Screen =================== GPS $20.28 - It has been a long road, but Retailer GPS is steadily working its way out of the abyss into which it plunged in the fall of 2001. Today's breakout over $20 seems to pave the way for a rally up to next strong resistance near $23. So long as the Retail index (RLX.X) continues to march to new yearly highs, look for GPS to continue its recover, with dip buyers likely to gain the most favorable entries. CC $10.15 - Continuing to recover from its slide to below $5 earlier this year, CC is on the verge of breaking above some major resistance and increasing volume indicates that move could come soon. A rally through $10.60 will have the stock moving solidly into the gap left behind last October and we could see a fairly quick (at least compared to the last several months) move through that gap up to the $15 level, with a possible pause near $13. Wait for the breakout before playing. NBR $40.43 - Oil stocks are on the move higher again and NBR is certainly joining in the party. After breaking out of its bull flag in early August, the stock has been rising steadily in what looks like a rising channel. This week's dip and rebound from above the 200-dma looks constructive, and we're looking for a move back to $45 resistance within that rising channel over the next few weeks. =============================== Market Sentiment =============================== Q2 GDP on fire! - J Brown Today was all about the GDP numbers and the jobless claims report. The Q2 GDP numbers were revised upward from a +2.4% pace to a much higher +3.1%. This helped ease many fears that the economy may not be improving fast enough. Contributing to the positive economic news was the weekly jobless claims report that came in below the pivotal 400,000 level. Economists had been expecting a small bounce and they got it, +3,000 to 394,000 jobless claims. Both reports came out before the opening bell and despite the positive indications the markets tanked early in the session. Fortunately, there was a lack of follow through and the markets managed a steady rebound despite the lack volume ahead of the Labor day weekend. As far as investor sentiment, the VIX and VXN continue to read at very low and dangerous levels but the slow drift up in the markets appears to be the most damaging to the bears. I looked at several hundred charts today and the overwhelming theme was bullish with several fresh breakouts or bounces from previous resistance. Now everyone knows we're approaching September and you've heard multiple times how it is traditionally the worst month of the year. Well, August is typically a pretty poor month for the markets and thus far the major indices are going to close it with a gain so September may turn out to be a surprise as well. The minefield that investors will need to navigate is the numerous mid-quarter corporate reports set to come out in September. The biggest landmine of all may be Greenspan's appearance tomorrow in Wyoming, which Jim covers in more detail on the wrap this evening. Trade carefully and watch those stops. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 9499 52-week Low : 7197 Current : 9374 Moving Averages: (Simple) 10-dma: 9369 50-dma: 9191 200-dma: 8607 S&P 500 ($SPX) 52-week High: 1015 52-week Low : 768 Current : 1002 Moving Averages: (Simple) 10-dma: 994 50-dma: 990 200-dma: 918 Nasdaq-100 ($NDX) 52-week High: 1342 52-week Low : 795 Current : 1332 Moving Averages: (Simple) 10-dma: 1302 50-dma: 1258 200-dma: 1114 ----------------------------------------------------------------- The VIX and VXN continue to drift lower just as the markets drift higher. While we know it's dangers to trade with the markets at extremes there is nothing to prevent these reading from becoming more extreme. CBOE Market Volatility Index (VIX) = 19.93 -0.41 Nasdaq Volatility Index (VXN) = 30.31 +0.26 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.61 494,942 302,766 Equity Only 0.49 418,387 206,314 OEX 1.07 12,931 13,871 QQQ .83 80,191 67,117 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 70.8 + 0 Bull Confirmed NASDAQ-100 74.0 + 1 Bear Correction Dow Indust. 80.0 + 0 Bull Correction S&P 500 77.6 + 0 Bull Correction S&P 100 82.0 + 0 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 0.98 10-Day Arms Index 0.94 21-Day Arms Index 0.96 55-Day Arms Index 1.06 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 1929 1855 Decliners 866 1184 New Highs 143 177 New Lows 6 6 Up Volume 1020M 1062M Down Vol. 353M 372M Total Vol. 1400M 1449M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 08/19/03 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 There is nothing eye opening to report in the large S&P futures contracts today. Commercials remain slight more short than long and small traders are significantly long the market. Commercials Long Short Net % Of OI 07/29/03 405,429 445,114 (39,685) (4.7%) 08/05/03 395,633 450,988 (55,353) (6.5%) 08/12/03 399,414 456,767 (57,353) (6.7%) 08/19/03 404,665 455,381 (50,716) (5.9%) 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 07/29/03 155,216 73,030 82,186 36.0% 08/05/03 159,971 72,951 87,020 37.4% 08/12/03 158,821 71,040 87,781 38.2% 08/19/03 162,034 87,064 74,970 30.1% 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 Meanwhile for the e-mini contracts commercial traders are still net long. Small traders are still net short but we saw a big increase in long positions. Commercials Long Short Net % Of OI 07/29/03 272,659 216,166 56,493 11.6% 08/05/03 310,662 249,004 61,658 11.0% 08/12/03 306,014 217,233 88,781 17.0% 08/19/03 296,971 235,779 61,192 11.5% Most bearish reading of the year: (354,835) - 06/17/03 Most bullish reading of the year: 88,781 - 08/12/03 Small Traders Long Short Net % of OI 07/29/03 44,437 93,144 (48,707) (35.4%) 08/05/03 56,663 95,919 (39,256) (25.7%) 08/12/03 62,534 106,403 (43,869) (26.0%) 08/19/03 90,428 125,980 (35,552) (16.4%) Most bearish reading of the year: (48,707) - 07/29/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Hmm... interesting development here. Commercial traders are still net short the NDX so that's not a surprise but the extreme just brushed a new "high" so to speak. Retail traders are still net long but there was a big bump in short positions. Commercials Long Short Net % of OI 07/29/03 31,456 50,294 (18,838) (23.0%) 08/05/03 32,813 52,383 (19,570) (23.0%) 08/12/03 34,374 53,015 (18,641) (21.3%) 08/19/03 32,107 53,665 (21,558) (25.1%) Most bearish reading of the year: (21,558) - 08/19/03 Most bullish reading of the year: 9,068 - 06/11/02 Small Traders Long Short Net % of OI 07/29/03 25,691 7,810 17,881 53.4% 08/05/03 22,188 7,783 14,405 48.1% 08/12/03 23,957 7,871 16,086 50.5% 08/19/03 25,607 10,134 15,473 43.3% 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 Wow! We see a big change in sentiment by the commercial traders in the DJ futures. Short positions doubled indicating a growing expectation that the market could rollover. Right on cue the retail trader is picking the wrong direction and more than doubled their long positions while slashing their shorts. This sort of extreme flip-flop would indicate a market reversal in the making. Commercials Long Short Net % of OI 07/29/03 23,696 9,572 14,124 42.5% 08/05/03 23,981 9,264 14,717 44.3% 08/12/03 24,942 9,878 15,064 43.3% 08/19/03 21,088 18,984 2,104 5.3% 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 07/29/03 5,744 11,601 (5,857) (33.8%) 08/05/03 5,716 10,422 (4,706) (29.2%) 08/12/03 6,933 13,248 (6,315) (31.3%) 08/19/03 15,717 9,143 6,574 26.4% Most bearish reading of the year: (8,777) - 10/12/01 Most bullish reading of the year: 6,574 - 8/19/03 ----------------------------------------------------------------- ================================================================= 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 Thursday 08-28-2003 section 2 of 2 Copyright (c) 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: Shining Brightly Stop-Loss Adjustments: GOLD 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 ) =============== Randgold - GOLD - close: 24.81 change: +0.67 - stop: 21.99*new* Company Description: Randgold Resources is an African gold mining and exploration business incorporated in the Channel Islands in 1995 and listed on the London Stock Exchange in 1994 and on Nasdaq in 2002. (Source: Company Website.) Why we like it: Friday, Martin Pring, the author of several texts on technical analysis, spoke on CNBC and noted the upside expected in gold stocks. He spoke about the HUI, the gold bugs index. We're glad he mentioned the HUI, because we had already noticed that one component, GOLD, appeared to be breaking out. After rallying, gold futures have been consolidating in a symmetrical triangle with the presumption being that the breakout will be to the upside. Depending on how the upper trendline is constructed, gold futures may actually already have edged over the upper trendline. The HUI pulled back on Thursday and Friday, but has been regularly consolidating, then breaking out and moving up about ten points. We think it's time to consider a bullish gold play. GOLD closed at a new daily and weekly high on Friday. It's on a P&F buy signal. Volume picked up, too. MACD lines separated and turned up, and RSI and stochastics both turned up again. We'd like to play GOLD at current levels, but we're aware of that symmetrical triangle on the gold futures and also of an ascending trendline connecting the last three GOLD highs. That trendline crosses just above $24.00. To ensure that this breakout is real, we're setting a trigger at $24.50. A move above $24.00 will also give a new P&F buy signal, confirming the breakout. Our stop is $21.49, and aggressive traders could target a pullback and bounce from that level rather than waiting for the trigger to be hit. Why This is our Play of the Day There are few sectors of the market that look as fundamentally strong as the Precious Metals sector, as it continues to be underpinned by the recent and expected future weakness in the dollar. On Wednesday, the Gold And Silver index (XAU.X) staged a mighty move, closing above $91 and just eclipsing the prior high from August 20th. That represents the best close for the XAU since late 1997. Not only did GOLD move to a new high yesterday, but it pushed up for another 2.75% gain today and is in clear breakout territory. Today's gain is particularly encouraging, because it propelled the stock through an ascending trendline connecting the January and May peaks, and this gives the impression that the bullish trend is strengthening. Pullbacks into the $23.50-23.75 area look like a good opportunity to get onboard, while momentum entries can be considered on a breakout over today's $25.00 intraday high. Raise stops to $21.99, just below the top of the August 20th gap. Annotated Chart of GOLD: Picked on Aug 24th at $23.40 Change since picked: +1.41 Earnings Date: 08/12/03 (confirmed) Average Daily Volume: 342 K ========================= Stop-Loss Adjustments ========================= GOLD – Raise from $21.49 up to $21.99 ================== 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 NGAS Daughtery Resources 5.13 +0.53 DCEL Dobson Communications 8.98 +0.79 CRK Comstock Resources 14.75 +0.65 RCII Rent-A-Center 79.29 +0.85 RL Polo Ralph Lauren 29.41 +0.76 MYG Maytag Corp 26.81 +1.23 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- GNTA Genta Inc 16.00 +1.24 WDC Western Digital 11.48 +1.98 PALM Palm Inc 18.03 +1.04 LTXX LTX Corp 14.99 +2.56 NKTR Nektar Therapeutics 11.20 +1.43 ZIGO Zygo Corp 11.30 +1.35 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- ZMH Zimmer Holdings 51.57 +2.85 UTEK Ultratech Inc 29.27 +1.30 UOPX University of Phoenix 64.50 +5.17 HAR Harman Intl 96.98 +3.35 PETM PetsMart Inc 23.34 +2.39 MIK Michaels Stores 44.78 +5.35 IVGN Invitrogen Corp 57.98 +1.90 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- . None .. ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- MRX Medicis Pharmaceutical 59.66 -1.44 WMAR West Marine Inc 21.30 -1.86 EBAY eBay Inc 109.52 -1.98 TECH Techne Corp 33.85 -0.62 ================================================================= 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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