PremierInvestor.net Newsletter Thursday 09-11-2003 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: Relief Bounce? Watch List: NMG.A, BVF, SCSS, UPS and more! Market Sentiment: Investors Remember ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 09-11-2003 High Low Volume Advance/Decline DJIA 9459.76 + 39.30 9502.84 9410.42 1.61 bln 1963/1233 NASDAQ 1846.09 + 22.30 1852.60 1819.42 1.76 bln 2022/1159 S&P 100 511.37 + 2.60 513.88 508.77 Totals 3985/2392 S&P 500 1016.42 + 5.50 1020.88 1010.92 W5000 9853.11 + 58.70 9887.56 9794.44 RUS 2000 507.43 + 5.67 507.90 501.76 DJ TRANS 2735.07 + 29.80 2743.49 2703.62 VIX 20.50 - 0.76 21.46 20.24 VXN 32.97 - 0.19 34.46 32.32 Total Volume 3,661M Total UpVol 2,738M Total DnVol 840M 52wk Highs 331 52wk Lows 27 TRIN 0.80 NAZTRIN 0.50 PUT/CALL 0.89 ================================================================= =========== Market Wrap =========== Relief Bounce? After two days of declines the markets rallied after each memorial service and as the clock ticked down on the possibility of another terrorist attack. As it became apparent there had been no terrorist event the markets began to creep upward from the morning dip. They ignored negative economic news and low volume to retest 9500 and 1850 once again. Fear of darkness took hold at 3:PM and the indexes began giving up their gains. Dow Chart Nasdaq Chart The morning started out badly with the Jobless Claims coming in well over 400,000 as we expected. The official consensus estimate was for a drop to 395,000 but the headline number rose to 422,000 instead. Last weeks number was revised up to 419,000. If you have been reading my articles you know I was expecting something in the 425K range for this week and I was not far off. Not only are more workers being laid off but the number of continuing claims rose +61,000 to 3.67 million. This was the largest number since July 12th. The four-week moving average rose to 407,250 and the highest level since July-26th. 29 states reported rising claims. The Jobless Claims were very negative to the bullish case but after the initial drop in the S&P futures to 1009 on the news at 8:30 they rebounded to almost 1016 before the open. Helping confuse the issue was a +0.2% rise in Import Prices. This was less than expected at +0.3% but when taken in context of a +3.9% increase in energy prices it left most investors scratching their heads. The lack of a major change in the headline number would indicate the trend to lack of inflation is still intact despite the higher energy prices. Should the energy prices suddenly drop the number could quickly go negative. The Trade Deficit increased once again to -$40.3 billion in July and $11.3 billion was to China. This ever increasing black hole is about to find a bottom if the current China legislation passes. The war over the devaluation of their currency will have some serious fallout. Companies that design products in the U.S. and then manufacture them in China could see a huge jump in their import tariffs. One version has a +27.5% tax on all imports from China in order to level the playing field. Currently China's currency is kept at artificial levels to give it a competitive advantage in the marketplace. They have refused to let it float and one U.S. threat is to remove their favored nation trade status and associated benefits. Tom Clancy, the author of many fiction novels about China and its economic attacks on the U.S. has got to be jumping up and down saying I told you so. Of course most of his books end up with a shooting conflict where the U.S. wins and I do not see that in the immediate future. Traders also shook off a downgrade on IBM by Salomon Smith Barney at the open. SSB said the stock price had gotten ahead of fundamentals and that the CSFB assessment was wrong. CSFB had upgraded IBM saying that it would benefit from a late year turnaround in IT spending. SSB said that investor sentiment had gotten ahead of revenue growth and lagging services bookings would hurt IBM. SSB said bookings might be strong in the 3Q but down for the entire year. They recommended clients take profits in IBM now. IBM shook off the opening drop to $86.40 and finished slightly positive at $87.90. The banking index rebounded from yesterday's drop with a jump back to 870.51 intraday but dropped at the close to 864.69. It was still positive for the day but the oversold bounce was weak. The pressure from yesterday came from multiple warnings of falling loan demand from businesses as well as a sudden drop in mortgages due to the rise in rates. Key Bank, National City and Washington Mutual all warned that demand was slipping and conditions were worsening. The rebound was likely bargain hunting but the volume was weak. Thursday was a throw away day in my opinion. The drops for the last two days were due as much to worries about a potential terrorist event as much as profit taking from the big gains. The constant break away to memorial events and the numerous sound bites for politicians and reporters kept the volume on the exchanges to a minimum. The price action was based on small buy/sell programs pushing the indexes from one range to the next with no defining trend. The volume ended with the lowest full day of trading since Aug-28th and about -16% below Wednesday. This light volume relief bounce of +22 points on the Nasdaq after a drop of -50 points (-2.6%) on heavy volume from Wednesday was far from conclusive. If anything it was an oversold bounce and brought us back to neutral for Friday. We are approaching the middle of September, the most volatile month of the year for the markets and we are moving into the most active weeks of this warning cycle. The valuation dogs are lose and the IBM downgrade this morning should be followed by other analysts wanting to get their 15 min of fame. We get earnings from Oracle at the open on Friday and while nobody expects them to miss estimates it will be interesting to see how they spin their guidance. Larry Ellison is tied with John Chambers for his ability to spin the news to Oracles benefit. The majority of analysts expect ORCL to announce inline at 8 cents on revenue of $2.14 billion. The dissenters think ORCL will make their earnings on cost cutting instead of revenue increases above the expectations. The real answer is sure to impact tech stocks tomorrow. Announcing inline has not been a winning strategy lately. The bond market absorbed another huge inflow of government paper this week with bid-to-cover ratios still high despite the continuing uncertainty. With a few earnings warnings beginning to appear on the fringes and the continuing drop in employment the bond junkies are feeling better about holding inventory. The Dow rebounded from yesterday's test of 9400 to test the high from yesterday at 9500. That test failed with a drop that split the difference with a 9457 close. One trader said it was a patriotic bid under the market more than anything else. I believe it was traders coming back into the market after taking profits on Wednesday to avoid any attack risk. Much of the volume for the day came in the last 30 min of trading. Futures volume rose significantly on both sides of the market. I have received numerous emails from readers who feel serious distribution is in progress and the chance for a major up move from here are becoming weaker every day. I received numerous other emails pointing out the bullishness of the limited drop and instant reversal when considering the distance we have come and the calendar. Unfortunately I agree with both. It is bullish that the markets are holding up as well as they are at these levels. I watch the volume flow through the Eminis on Wed and at the close today and I was impressed at the number of buyers. This is definitely not a normal rally or a normal September market. Friday may not give us a real clue to direction either. We have several economic reports at the open in addition to the ORCL earnings. We have the PPI and Retail Sales at 8:30 and Michigan Sentiment at 9:45. I do not expect a big move from these events. I would think traders would watch them from the corner of their eye but they are focusing on the Fed meeting next Tuesday. With Bernanke and Ferguson being renominated to the board they are probably hoping Ben will be carrying a bigger stick into the meeting in an effort to fight that deflation monster with another rate cut. Do not hold your breath. There is a possibility with the nonfarm payrolls down -93,000 and Jobless claims well over 400K for the last two weeks but that chance is still very slim. According to the Fed funds futures the next change is expected to be a 25 point hike in April 2004. While the Fed may want to head off the deflation monster they have clearly shown they do not want to move until they have to. Cutting another 25 points now would endanger billions of dollars currently held in money markets. With MM yields already only pennies above zero any further cuts could make it unprofitable for funds to continue to offer any return to holders. We could see a massive shutdown of money market funds and that cash withdrawn for other purposes. Shucks, some of it might even find its way into the stock market. (Are you listening Ben?) Maybe the Fed still has one more ace up their sleeve that nobody is counting on but that ace cannot be played without exacting a terrible price on the investment community. I doubt Greenspan will allow it without a strong reason. Either way traders will be either holding their breath until Tuesday afternoon or buying the hope for that surprise cut. The anniversary is over and the terror alert was never raised. The fear of another event is slowly dwindling but somewhere in the U.S. there are people alive today that will eventually die in the next attack. Next week, next month or next year, eventually there will be another attack. It will probably come when we least expect it. We need to use every anniversary of the WTC attack to motivate us to go the extra mile to prevent them from being so massive. Just today there was an article about a canister of 15 pounds of highly radioactive depleted uranium being smuggled into Los Angeles by ABC reporters for the second straight year while doing an investigative piece on lax border security. Despite the obvious radioactivity and the ease at which it could have been detected it arrived at its destination right on schedule. The package was designed to emit radiation in a form and strength of a more dangerous device. It was shipped from Jakarta, a terrorist hotspot, in a shipping container all the way to the final destination in Los Angeles. If a radioactive device, active or otherwise, can be shipped without discovery then how simple would it be to ship C4 or some germ warfare component right through the security screen. There are an estimated 10,000 containers offloaded in the U.S. each day and only a very small fraction are searched. Our borders are porous and cannot be fixed. 65,000 people gather together at more than a dozen locations each weekend for football games and offer prime targets. 25% of the weight on scheduled passenger planes is unscreened commercial shipments. If an idiot can ship himself home for the holiday in a shipping crate without being found then what else is shipped each day that could be dangerous. We may be a harder target than we were two years ago but for anybody with a death wish the security will never be enough. Our best defense is a strong offense and the refusal to let these people impact our daily lives. I leave you with the battle cry from the passengers on the fourth plane who refused to see their plane used as a weapon. Let's roll. 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 --------------------------------- Neiman Marcus Group - NMG.A - close: 41.40 change: +0.64 WHAT TO WATCH: After taking a tumble in recent sessions, the Retail index (RLX.X) bounced back on Thursday and with it NMG.A. In fact, the rebound in this high-end retailer actually started on Tuesday with the intraday rebound from the 50-dma, which looks like very strong support. Target entries on the intraday pullbacks and look for a breakout over the recent highs near $43. --- Biovail Corp. - BVF - close: 42.78 change: +2.38 WHAT TO WATCH: The third time's the charm. Three times, BVF has taken a run at the $42 resistance level over the past few weeks and this time the bulls prevailed with a high-volume breakout. The stock is right on the verge of issuing a PnF Buy signal too, which will come on a trade at $43. Conservative traders will want to wait for the breakout before playing, while those with a more aggressive stance can look to enter on an intraday pullback near the 50-dma. Target a return to the June highs near $49-50. --- Select Comfort Corp. - SCSS - close: 24.80 change: +2.14 WHAT TO WATCH: Looking for a good night's sleep? Apparently you aren't alone, as the price action in SCSS suggests the company's business is booming. Price has nearly tripled since the March lows, but eager bears trying to pick a top got their heads handed to them today with the 9.4% advance on very heavy volume. Look to enter on a breakout over today's intraday high ($25.25) and target a move to $30. The bullish price target from the PnF chart is currently $40. --- United Parcel Service - UPS - close: 61.80 change: -0.34 WHAT TO WATCH: Right on the verge of a breakdown, UPS has been flirting with the $61.50 support level again this week. This level has been supportive since late April and the 200-dma ($61.66) reinforces its importance. Wait for a breakdown below $61.50 before playing and then target an initial move to the $57- 58 area. =================== On the RADAR Screen =================== FD $42.71 - FD has been pulling back from the $45 level over the past week and today it rebounded from just above the $42 level, which has been providing support for the past month. This is also the site of the 30-dma, which has been providing support since April. If there is to be a rebound and a run back at the highs, this is where it will begin. SYY $32,30 - Not the Networker, this is the other Sysco, the provider of food service products. The products taste better than router hubs and the stock's price action is better too, as it broke out again on Thursday and the only thing standing between it and new highs is the late 2002 resistance in the $32.60 area. Wait for a breakout to go long and then target a near-term move to $35-36. SFA $32.36 - Here's one for the aggressive bears out there. SFA has been getting pummeled on very strong volume the past couple days and today it just barely held above the 30-dma. That moving averages has been consistent support since March, but if it breaks, then the stock looks vulnerable down to the $27 area. Wait for the breakdown before playing. =============================== Market Sentiment =============================== Investors Remember - J. Brown Call it a patriotic rally, call it a short-term bounce from two days of losses. Call it whatever you want but investor sentiment was not focused on stock and bond prices today. Instead the mood was one of remembrance. Many Americans paused to look back to that fateful day two years ago. The world isn't the same place it was on September 11, 2001. Hopefully, history will prove that it is a safer place today. Those investors who did have one eye on the markets will notice that the bounce was rather widespread. Nearly every sector was higher save for a few energy-related stocks. Market volume was light given the anniversary but market breadth was bullish. We continue to urge caution for traders. The major indices may have bounced but there was some weakness right towards the close and we could see more profit taking ahead of the weekend. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 9609 52-week Low : 7197 Current : 9459 Moving Averages: (Simple) 10-dma: 9494 50-dma: 9269 200-dma: 8649 S&P 500 ($SPX) 52-week High: 1032 52-week Low : 768 Current : 1016 Moving Averages: (Simple) 10-dma: 1019 50-dma: 996 200-dma: 925 Nasdaq-100 ($NDX) 52-week High: 1387 52-week Low : 795 Current : 1350 Moving Averages: (Simple) 10-dma: 1357 50-dma: 1286 200-dma: 1128 ----------------------------------------------------------------- Still no earth-shattering changes. CBOE Market Volatility Index (VIX) = 20.50 -0.76 Nasdaq Volatility Index (VXN) = 32.97 -0.19 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.89 519,399 463,420 Equity Only 0.75 400,195 299,558 OEX 0.96 25,285 24,498 QQQ 5.33 15,065 80,309 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 72.6 + 0 Bull Confirmed NASDAQ-100 78.0 - 2 Bear Correction Dow Indust. 83.3 - 3 Bull Confirmed S&P 500 81.2 + 0 Bull Confirmed S&P 100 88.0 - 1 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 1.33 10-Day Arms Index 1.07 21-Day Arms Index 1.01 55-Day Arms Index 1.05 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 1856 2001 Decliners 975 1057 New Highs 81 122 New Lows 11 7 Up Volume 1112M 1363M Down Vol. 451M 346M Total Vol. 1600M 1736M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 09/02/03 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 More of the same for commercial traders in the large S&P futures contracts, but we do see a slight bump in short positions. There is barely any change between longs and shorts for the small traders. Commercials Long Short Net % Of OI 08/12/03 399,414 456,767 (57,353) (6.7%) 08/19/03 404,665 455,381 (50,716) (5.9%) 08/26/03 410,378 472,987 (62,609) (7.1%) 09/02/03 417,973 482,392 (64,419) (7.2%) 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 08/12/03 158,821 71,040 87,781 38.2% 08/19/03 162,034 87,064 74,970 30.1% 08/26/03 170,424 76,967 93,457 37.8% 09/02/03 169,030 75,748 93,282 38.1% 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 The bullish trend of growing long positions for the commercials in the e-minis has continued. The latest report shows drop of 10K short positions and 9K new long positions. Locksteppening in the opposite direction are the small traders with a big jump in short positions to the most bearish we've seen them in a long time. Commercials Long Short Net % Of OI 08/12/03 306,014 217,233 88,781 17.0% 08/19/03 296,971 235,779 61,192 11.5% 08/26/03 338,766 234,841 103,925 18.1% 09/02/03 347,724 224,011 123,713 21.6% Most bearish reading of the year: (354,835) - 06/17/03 Most bullish reading of the year: 123,713 - 09/02/03 Small Traders Long Short Net % of OI 08/12/03 62,534 106,403 (43,869) (26.0%) 08/19/03 90,428 125,980 (35,552) (16.4%) 08/26/03 52,131 120,853 (68,722) (39.3%) 09/02/03 56,709 134,094 (77,385) (40.6%) Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Commercials caught part of the stampede fever and added some long positions to their NDX futures. Meanwhile small traders rotated some money out of longs and into shorts but no big change. Commercials Long Short Net % of OI 08/12/03 34,374 53,015 (18,641) (21.3%) 08/19/03 32,107 53,665 (21,558) (25.1%) 08/26/03 33,991 55,849 (21,858) (24.3%) 09/02/03 37,002 55,379 (18,377) (19.9%) Most bearish reading of the year: (21,858) - 08/26/03 Most bullish reading of the year: 9,068 - 06/11/02 Small Traders Long Short Net % of OI 08/12/03 23,957 7,871 16,086 50.5% 08/19/03 25,607 10,134 15,473 43.3% 08/26/03 26,108 8,864 17,244 49.3% 09/02/03 23,168 10,561 12,607 37.4% 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 No serious changes among the commercial traders while small traders have grown fur and drastically reduced their bullish positions. The spike in shorts have them looking for a INDU drop. Commercials Long Short Net % of OI 08/12/03 24,942 9,878 15,064 43.3% 08/19/03 21,088 18,984 2,104 5.3% 08/26/03 24,586 10,386 14,200 40.6% 09/02/03 25,462 10,447 15,015 41.8% 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 08/12/03 6,933 13,248 (6,315) (31.3%) 08/19/03 15,717 9,143 6,574 26.4% 08/26/03 14,115 5,592 8,523 43.2% 09/02/03 6,629 13,402 (6,773) (33.8%) Most bearish reading of the year: (8,777) - 10/12/01 Most bullish reading of the year: 8,523 - 8/26/03 ----------------------------------------------------------------- ================================================================= 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 09-11-2003 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: Still Soaring Stop-Loss Adjustments: INSP 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 ) =============== InfoSpace.com - INSP - cls: 19.40 chng: +0.50 stop: 17.35*new* Company Description: InfoSpace, Inc. (Nasdaq:INSP) provides wireless and Internet software and application services. The Company develops software technologies that enable customers to efficiently offer a broad array of network-based services under their own brand to any device. (Source: Company Description) Why we like it: Tuesday, INSP hit our stated first target of $19.50, so conservative traders have probably already happily taken profits. MACD confirmed the breakout, and continues to look strong. Monday, INSP announced that the company would return to its roots as a yellow page and white page directory, and would rework its site as a destination for yellow pages. The company intends to attract local advertising dollars, a potential $14 billion pot. The company decided to focus on the yellow pages and white pages when it calculated that 85 percent of its traffic went to those pages. Investors liked the idea, and INSP added 6.81 percent on more than double the daily average. Tuesday continued those gains, but Wednesday INSP printed an inside-day candle or harami. That candle rests on the support offered by regression channel INSP formerly occupied. That inside day offers traders both a new possible entry and a new possible exit. While we're keeping our official exit at $17.00, traders familiar with inside-day formations might elect to exit if INSP drops below Tuesday's $18.46 low, although it might be a good idea to give the downside test a little leeway to ensure that any drop was not a trap. New entries could be sought on a move above Tuesday's high. One caution exists for those considering new entries, however. The YIH, the Internet Infrastructure HOLDRS Index, and XIS, the Industry Standard 100 Internet Index, two indices of which INSP is a component, dropped sharply on Wednesday. Before considering new entries, confirm that these two indices have regained their footing. Why This is our Play of the Day It's pretty rare for us to list the same stock as our Play of the Day twice in the same week, but doggone it, INSP is just looking so strong, we can't help ourselves. After a one-day consolidation of the vertical move over $19, the stock consolidated in a very tight range and the bulls came right back in on Thursday, producing a fresh 2.6% advance on volume that is still running above average. Taking a different look at the chart (see below) show that the Tuesday's move constituted a breakout above the top of the 10-month ascending channel and the fact that it appears to now be finding support on top of that channel certainly looks bullish. We still think conservative traders should consider harvesting gains up here or at least tighten stops to $18.25 (just below the bottom of Tuesday's gap). But for aggressive traders, rebounds from the top of this channel just might turn out to be a solid continuation entry. We're sneaking our official stop up just slightly, allowing it to rise with (and just below) the 10-dma ($17.38) to $17.35. Annotated Chart of INSP: Picked on September 7th at $17.19 Change since picked: +2.21 Earnings Date: 07/30/03 (confirmed) Average Daily Volume: 369 K ========================= Stop-Loss Adjustments ========================= INSP – Raise from $17.00 up to $17.35 ================== 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 CAG Conagra Foods 22.55 +0.70 HET Harrah's Entertainment 40.95 +1.08 NMG.A Neiman Marcus 41.40 +0.64 CHTT Chattem Inc 14.72 +0.71 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- TQNT Triquint Semiconductor 6.81 +1.13 AAII AAI Pharma 19.30 +1.12 UHAEQ Amerco 17.00 +2.65 LNUX VA Software 5.84 +1.20 IFLO I-Flow Corp 10.19 +1.04 CYPB Cypress Bioscience 8.66 +1.06 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- TM Toyota Motor Corp 60.94 +1.44 CHIR Chiron Corp 56.45 +2.63 ADBE Adobe Systems 39.46 +3.07 BVF Biovail Corp 42.78 +2.38 GTK GTech Holdings 43.20 +1.40 BCC Biose Cascade 28.19 +1.02 JCOM J2 Global 41.57 +5.98 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- CUZ Cousins Properties 27.85 -2.15 UTIW UTI Worldwide 31.89 -2.15 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- DGIN Digital Insight 21.70 -1.04 PKE Park Electrochemical 22.35 -1.23 CRAI Charles River Assoc 31.89 -1.13 CERN Cerner Corp 34.80 -1.35 FEIC FEI Company 26.35 -0.74 ================================================================= 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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