Option Investor
Newsletter

Daily Newsletter, Wednesday, 10/01/2003

HAVING TROUBLE PRINTING?
Printer friendly version
PremierInvestor.net Newsletter                Wednesday 10-01-2003
                                                    section 2 of 3
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:      Welcome to the Fourth Quarter!

Trading Ideas
  Value Plays With Bullish Signals
  Breakout to Upside (Stocks $5 to $20)
  Breakout to Upside (Stocks over $20)
  Breakout to Downside (Stocks over $20)
  Recently Overbought With Bearish Signals (Stocks over $20)

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
      10-01-2003           High     Low     Volume   Adv/Dcl
DJIA     9469.20 +194.14  9472.76  9276.80 1.79 bln 2360/ 490
NASDAQ   1832.25 + 45.31  1832.25  1796.09 1.81 bln 2188/ 924
S&P 100   510.33 + 11.77   510.33   498.56   Totals 4548/1414
S&P 500  1018.22 + 22.25  1018.22   995.97
W5000    9859.56 +209.88  9859.56  9649.68
RUS 2000  500.32 + 12.64   500.35   487.68
DJ TRANS 2736.34 + 62.48  2736.51  2672.64
VIX        21.07 -  1.65    22.82    20.99
VXN        31.33 -  1.50    32.70    31.11
52wk Highs  285
52wk Lows    20
PUT/CALL   0.79
TRIN       0.79
=================================================================

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


Welcome to the Fourth Quarter!
by James Brown

It was a big day for the bulls as investors looked ahead to the
up coming Q3 earnings report and the fourth quarter of 2003.
Yesterday's negative data from the PMI report and the Consumer
Confidence numbers suddenly had traders on the defensive.  The
mood on Wall Street was guarded as everyone expected potentially
devastating news that the economic recovery had fumbled in this
morning's ISM report.  Thankfully, the ISM numbers, while less
than expected were still positive and the markets rallied!

Economists had previously been looking for a headline number of
54.9 percent in the September ISM, up from August's 54.7. Yet
Monday's surprisingly negative economic reports had investors
bracing for bad news.  When today's ISM report unveiled a slight
drop to 53.7 Wall Street breathed a sigh of relief.  Readings
over 50 indicate that the majority of manufacturers surveyed said
business was improving or at least holding steady.  Today's
report marks the third consecutive month of expansion.  Probably
the most impressive component of the report was the new orders
number, which came in at 60.4 - its highest level in 16 months.

Attributing to the positive mood was good news from the research
firm Challenger, Gray and Christmas.  They tally planned
corporate layoffs each month and September marked yet another
decline.  Challenger said that the last four months of the year
tend to be the heaviest for corporate layoffs and they were
surprised by the drop to 76.5K in September, down 4 percent from
August and the lowest level since June.  Currently, corporate
America has announced more than 872K layoffs this year, which is
improvement from last year but analysts still expect 2003 to
break the 1 million mark.

The positive economic reports sent shorts scrambling and many
feel that a significant part of the move today was definitely
short covering.  Today's market advance was both powerful and
extremely broad-based with all of the benchmark indices up more
than 2 percent.  The DJIA added 194 points or 2.09% to close at
9469.  The NASDAQ Composite added 2.53% to close back above the
1800 level.  The S&P 500 jumped 22 points or 2.23% to break back
above the 1000 mark.  The Russell 2000 closed back above the 500
mark with a 2.59% gain and the Wilshire 5000 index added almost
210 points to close at 9859.  Foreign exchanges got into the act
as well.  The Japanese NIKKEI jumped 142 points to 10,361.  The
Hang Seng added 88 points to 11,229. The British FTSE rallied
1.9% to 4169 and the German DAX added 2.24% to 3329.

I know I'm repeating myself here but the rally here at home
really was very broad.  Every major sector index closed in the
green with many adding more than two percent by the close.
Homebuilding stocks were on fire today as the recent drop in
rates has given them a second wind and today's construction
report showed private residential construction hit an all-time
high in August.  The DJUSHB homebuilders index jumped 6.15% to
mark its own all-time high.  The retail sector was also very
strong with luxury goods and specialty stores surging.  The RLX
retail index added more than 3 percent to close back above its
simple 50-dma.  Disk drives, software, networking, financials,
brokers, oil and defense were also very strong.  Market internals
were very bullish with advancing stocks trampling decliners 23 to
5 on the NYSE and 22 to 9 on the NASDAQ.  Up volume was more than
five times down volume on the NYSE and up volume outpaced down
volume by 2-to-1 on the NASDAQ.

Chart of the DJIA:


Chart of the NASDAQ:


Chart of the S&P 500:


The strong ISM data pushed Dow components United Technologies
(UTX) and Caterpillar (CAT), both major manufacturers, to gains
of more than 3.3 and 3.6 percent, respectively.  The construction
data this morning, while less than expected, helped build Dow
component Home Depot's (HD) 3.29% gain.  Outpacing them all were
shares of Intel (INTC), which added more than four percent.
Analysts also welcomed positive news from 3M last night who
closed its first day of a two-day investor meeting by reaffirming
its growth forecast for 12 to 14 percent in 2004.  Investors were
encouraged by even more good news from the likes of Clear Channel
Communications (CCU) and Eli Lilly & Co (LLY).  CCU told
investors that its EBITDA numbers would be in the mid-to-high
single digits for the third quarter of 2003.  This news comes on
the heels of an earnings warning from Viacom who told investors
last month that earnings would miss due to slow local advertising
for their radio network.  Meanwhile, shares of LLY rose by more
than six percent after announcing that it had received its second
approval letter from the FDA for its Cymbalta treatment for
depression.  The FDA told LLY that no further clinical studies
were needed but the government agency was still working with the
company to clean up some quality control issues.

One of the big stories of the day was the September auto sales
numbers.  General Motors (GM), the largest of the big three, said
September U.S. sales were good.  Car sales jumped 10 percent
while truck sales surged 15 percent.  However, the company did
state that it would now offer 0% financing for its 2004 vehicles
and its current promotions on 2003 vehicles would last through
Jan. 2nd, 2004.  This is going to put pressure on Ford and
Chrysler to follow suit with their own incentives on the new 2004
models as all of them struggle to keep inventory flowing.  Ford
(F) said overall sales in the U.S. rose by 5 percent in
September, lead by gains with their new F150 truck model.
Meanwhile, Chrysler Group, part of DaimlerChrysler (DCX), was
left in the dust as U.S. September sales fell by 15 percent.
Minivans dropped 9 percent, trucks dumped 13 percent, SUV's shed
18 percent and car sales slid 22 percent.  Is it just me or have
the 2003 close out ads on TV suddenly become a blur.  We all know
that it happens every year.  Dealers start blowing out the
remaining 2003 models to "make room" for the 2004's but it seems
like we're being bombarded with ads from almost every dealer.
We've had two years of 0% financing with ever increasing
incentives and skeptics may be wondering if there are any
consumers left to take advantage of them.

Tomorrow is a new day but given the markets' close near its highs
for the session many believe the rally will continue into
Thursday.  We do have a couple of economic reports to watch for
as the August factory orders are released and the weekly
unemployment claims are reported.  Economists are looking for a
small bump in jobless claims towards the 395,000 level, up from
last week's 381,000 but as long as the number remains below
400,000 then bullish investors probably won't notice.  The big
report that Wall Street is looking for is Friday's jobs report
and unemployment rate, which comes out before the opening bell.
This might stall any advance Thursday afternoon as traders hedge
their bets or step back to wait for the result.

Keep in mind that next week we'll hear from some early Q3
earnings reports with Yahoo (YHOO) reporting on October 8th.
Then the floodgates will open on Tuesday, October 14th.



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

REP     Repsol YPF SA              17.00    +0.53
CFC     Countrywide Financial      80.82    +2.54
YUM     Yum! Brands Inc            31.31    +1.70
PKX     Posco                      29.16    +0.56
MRO     Marathon Oil Group         29.12    +0.62
IR      Ingersoll-rand Ltd CI A    54.77    +1.33


---------------------------------------
Breakout to Upside (Stocks $5 to $20)
---------------------------------------

MTF     Mitsubishi Tokyo Finl Grp   7.52    +1.08
CMS     Cumulus Media Inc          18.30    +1.12
JOYG    Joy Global Inc             17.34    +1.40
WCI     WCI Communities            17.60    +1.10
MTZ     Mastec Inc                 10.91    +1.21


---------------------------------------
Breakout to Upside (Stocks over $20)
---------------------------------------

VIA-B   Viacom Inc Non-vot B       39.70    +1.40
TM      Toyota Motor Corp (ADS)    62.65    +3.10
LLY     Eli Lily & Company         63.01    +3.61
HBC     HSBC Holdings Plc          67.99    +1.99
E       ENI Spa (ADS)              79.70    +3.17
FBF     Fleetboston Financial Cp   31.19    +1.04


-------------------------------------------
Breakout to Downside (Stocks over $20)
-------------------------------------------

UNTD    United Online Inc          32.30    -2.49
CYMI    Cymer Inc                  39.81    -1.35
ESS     Essex Property Trust Inc   61.58    -1.13
PNRA    Panera Bread Co CI A       39.00    -2.01
PLB     American Italian Pasta     37.45    -1.24


-----------------------------------------
Recently Overbought With Bearish Signals (Stocks over $20)
-------------------------------------------

CAPX    Capital Crossing Bank      33.85    -1.70



=================================================================
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 (c) 2003 PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form

PremierInvestor.net Newsletter                Wednesday 10-01-2003
                                                    section 3 of 3
Copyright ) 2003, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================

Tech Stocks
  Bearish Play Updates:  UTSI

Active Trader (Non-tech)
  New Bullish Plays:     GENZ
  Bullish Play Updates:  FMX, TYC, ZMH
  Bearish Play Updates:  BVF

High Risk/Reward
  Bullish Play Updates:  ORB, DRTE
  Bearish Play Updates:  ASKJ

Stock Splits/Announcements
  Stock Splits:          HAR, ATU


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

============
PLAY UPDATES
============

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


UTStarcom, Inc. - UTSI - cls: 31.91 chng: +0.11 stop: 34.10*new*

After last week's sharp drop, UTSI has been consolidating in an
ever-tightening range, centered around $32.  When we initiated
coverage on the stock, we suspected that the $31 level might
offer some support and indeed it has.  The consolidation of the
past few days is either a prelude to another drop or an attempt
to put in a bottom, and based on the lack of participation in
today's broad market rally, we're leaning towards the former.
Aggressive entries can be considered on a failed rebound below
$33, while continuation entries below $31 still make sense.
Conservative traders can either harvest gains here or set a tight
stop at $33.25, just over Friday's intraday high.  Our official
stop moves down to $34.10 tonight, just above the 10-dma
($34.02).  Once the $31 support gives way, look for a drop to our
profit target at the 200-dma (currently $28.22).

Picked on September 24th at  $35.08
Change since picked           -3.17
Earnings Date              10/23/03 (confirmed)
Average Daily Volume =     3.82 mln





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

=========
NEW PLAYS
=========

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


Genzyme Corp. - GENZ - close: 47.50 change: +1.19 stop: 44.90

Company Description:
Genzyme General, a division of Genzyme Corporation, is focused on
developing innovative products and services to solve major unmet
medical needs.  GENZ has nearly 600 products and services on the
market and a strong pipeline of therapeutic products for the
treatment of rare genetic diseases.  The Diagnostics business
unit develops, markets and distributes in vitro diagnostic
products and genetic testing services. With a solid, profitable
revenue base, this research is intended to maintain the company’s
high rate of earnings growth.

Why we like it:
Throughout the past year, GENZ has been steadily advancing within
the confines of a broad ascending channel.  Each time it reaches
the top of the channel, the bears take a swipe at it and each
time it reaches the bottom of the channel, the bulls step forward
to provide support.  Over the past couple months, the stock has
been underperforming the Biotechnology index (BTK.X), but it
appears things may be changing for the better.  Ever since early
August, the stock has been confined to the lower half of the
channel (a sign of relative weakness), but this week has seen the
stock start to flex its muscles again.  Both Monday and Tuesday
saw price testing the bottom of the channel near $45.40 and
today's 2.5% gain looks particularly encouraging.  Adding to the
bullish tone was the fact that volume came in solidly above the
ADV, while GENZ significantly outperformed the BTK index, which
barely managed a positive close.  Looking at the oscillators,
daily Stochastics are just starting to hook upwards and this
looks like an early bullish signal, especially with MACD starting
to flatten out.  There's even the appearance of an inverse H&S
pattern on the hourly chart, with today's rally penetrating the
$47.20 neckline.

While there's some significant resistance to deal with in the
$47.75-48.50 area, with the 50-dma ($47.79), 10-dma ($47.86) and
the 20-dma ($48.37) looming just overhead, a breakout over this
level should be good to run to next resistance at $50.  Our first
upside target is $52, which would be a retest of the late-July
highs.  On the outside chance that we catch a real runner here
and the BTK index manages to rise back to test its recent highs,
we can look to target the top of the channel near $57.
Aggressive traders can look to enter on a mild dip back into the
$46.50-47.00 area, while those with a more conservative risk
profile will want to wait for the break above $48.50 before
playing.  Set stops initially at $44.90, which is just below both
the bottom of the channel and Monday's intraday low.  Note that
there are only two weeks until GENZ reports its quarterly
earnings, so this will need to be a quick play.

Annotated Chart of GENZ:


Picked on October 1st at  $47.50
Change since picked        +0.00
Earnings Date           10/15/03 (confirmed)
Average Daily Volume =  2.92 mln




============
PLAY UPDATES
============

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


Femsa Fomento - FMX - close: 38.68 change: +0.53 - stop: 36.59

Monday, SABMiller, touted as being the world's second-biggest
brewer, said that its financial performance was strong, but noted
that its Miller beer volumes dropped.  The company cited stiff
competition from carbonated soft drinks in Central America.  The
company said that it would take three years to turn around
Miller.  It's not clear whether that news may have affected FMX,
but FMX spent both Monday and Tuesday declining to key moving
averages and then bouncing back up by the close.

Wednesday, the maker of Corona beer announced that it wanted to
increase prices for Corona. Perhaps the possibility of pricing
increases helped propel FMX higher, too.  The stock came within
cents of triggering our play.  That trigger should go at $38.80,
just over last week's high.  We think FMX will soon hit that
trigger.  The short-term moving averages curve up underneath the
price, supporting FMX's climb.  MACD slopes up through zero, and
both RSI and stochastics turned back up again.

Annotated Chart for FMX:


Picked on Sep 24 at  38.46
Change since picked: +0.22
Earnings Date:    07/28/03 (confirmed)
Average Daily Volume:  299 thousand



----

TYCO - TYC - close: 20.73  change: +0.30 - stop: 19.99

Both CNBC and the print media focused on the start of former Tyco
CEO Dennis Kozlowski's trial, beginning this week.  The negative
publicity, coupled with general market weakness, didn't help
TYC's performance early in the week, but TYC rose with the
markets Wednesday.  That rise brought TYC back to the trendline
it violated Tuesday.  We note that TYC has a habit of violating
that trendline for a few days, so the violation did not prove
particularly alarming.

Wednesday's climb saw TYC close back above the 30-dma.  RSI
hooked back up, but soon faces its own violated trendline.  The
chart balances some reassuring developments with some that
pinpoint possible challenges as TYC rises again.

New entries can be sought on a climb back above TYC's rising
trendline, especially if that climb is confirmed by an RSI climb
back above its own rising trendline.  Conservative traders might
want to wait for a close above the trendline rather than an
intraday move above it, or might alternately set a trigger on a
climb back above the 10-dma.  Ideally, a climb above the
trendline would be accompanied by rising volume, confirming the
move.

Annotated Chart for TYC:


Picked on Sep 21 at  21.90
Change since picked: -1.17
Earnings Date:    07/29/03 (confirmed)
Average Daily Volume:    8 million



----

Zimmer Holdings - ZMH - cls: 55.70 chng: +0.60 - stop: 53.90*new*

Tuesday, medical device company MDT affirmed FY04 estimates and
said it would provide quarterly sales information later this
week.  The CEO claimed that the company doesn't need acquisitions
to meet its goals.  ZMH is pursuing a policy of acquisition, and
expects to close the deal to acquire Centerpulse on Thursday.
MDT declined Tuesday, and so did ZMH, but it's unclear whether
MDT's guidance had anything to do with ZMH's decline.
Performance proved mixed in the sector, with STJ and GDT gaining
while ZMH and SYK declined.

Wednesday, the RXP, the Morgan Stanley Health Care Products
Index, gained ground, and so did many of the medical-device
makers.  That included ZMH.

ZMH's chart depicts a symmetrical triangle forming at the top of
ZMH's rise.  Symmetrical triangles often prove to be continuation
patterns, with the presumption being that the break will be in
the direction of the move that preceded the triangle's formation.
That's not always true, of course, so play participants should
watch the lower trendline of that triangle, too.  The triangle
forms above the midline support of the regression channel,
another bullish sign, but it's still possible that ZMH might
retreat to that midline again.  We've raised our stop to $53.90,
just below the rising 21-dma (in blue on the chart).  New entries
could be sought on a break above the symmetrical triangle's upper
trendline.

Annotated Chart for ZMH:


Picked on Sep 17 at   53.87
Change since picked:  +1.83
Earnings Date:    07/23/03 (confirmed)
Average Daily Volume:  2.2 million




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


Biovail Corp. - BVF - close: 37.24 change: +0.09 stop: 40.00

So what's it going to be?  Is our BVF play going to put in a
bottom here just above $36, or is it finally going to break down?
Since last week's sharp drop, the stock has been trolling along
between support near $36.50 and resistance near $38.20, with
neither the bulls or the bears able to gain a clear advantage.
Volume has dropped off significantly and is now running only
about 75% of the ADV vs. last Thursday's reading at nearly double
the ADV.  It was encouraging today to see the lack of
participation in the broad market advance, with BVF barely
squeaking out a 9-cent gain, but we now have daily Stochastics
oscillators bottoming in oversold and threatening to turn up.
Failed rebounds below $38.25 can still be used for new entries,
although traders looking to enter on weakness will need to wait
for at least a break of $36.  Truly conservative players will
want to see a crack below $35 to provide a sign that our $30
target is achievable.  With the stock now well below the 200-dma
($38.87) for over a week, that level should not be breached again
if the downside has any real potential.  So we're lowering our
stop to $39 tonight.

Picked on September 28th at  $36.75
Change since picked           +0.49
Earnings Date              10/28/03 (unconfirmed)
Average Daily Volume =     2.00 mln





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

============
PLAY UPDATES
============

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


Orbital Sciences - ORB - cls: 9.59  chng: +0.31 - stop: 8.99

Recovering after last week's multiple downgrades of the defense
sector, the DFI spent this week finding support and then climbing
off that support.  Although not a component of the DFI, ORB's
chart often displays many of the same chart characteristics.
This week, ORB found support at the bottom trendline of its
rising channel.

Wednesday, ORB climbed off the bottom of that channel.
Stochastics and RSI turned up, too.  While MACD has yet to do so,
it appears to have halted its nascent attempt to turn down.  It
has instead flattened.

The recent pullback probably offered the best opportunity for new
entries, but aggressive traders who like to enter on momentum
might enter on a break above the midline of the regression
channel.  Some might wait for a momentum break above $10.00.
Those traders should be aware of resistance near $12.00, so that
risk/reward parameters will be less attractive for such an entry.

Annotated Chart for ORB:


Picked on Sep 3 at   $9.18
Change since picked: +0.41
Earnings Date:    07/22/03 (confirmed)
Average Daily Volume:  347 thousand



---

Dendrite Int'l - DRTE - cls: 15.35 chng: +0.17 stop: 13.75

The action hasn't been impressive, but DRTE did manage to eke out
another gain on Wednesday, continuing the rebound that began on
Monday from the $14.60 level.  It is somewhat disconcerting that
the stock couldn't stage more than a 1.1% advance when the broad
market averages all gained over 2%, but a gain is a gain.  The
other item of concern is the fact that volume has been declining
throughout the past week, falling to a recent low of only 118K
shares today.  Of course, the last time volume dropped off like
this was just over 2 weeks ago and was immediately followed by a
strong rebound off the 50-dma that produced a breakout over
$15.50.  Could it be that a repeat performance is in store?  Dip
buyers got their entry opportunity with Monday's rebound and now
with DRTE above the center of its rising channel, the most likely
setup for a new entry is a breakout over $15.70, the site of last
week's intraday highs.  Keep stops at $13.75, just below the
bottom of the rising channel and the 50-dma ($13.99).

Picked on September 24th at  $15.55
Change since picked           -0.20
Earnings Date              10/23/03 (unconfirmed)
Average Daily Volume =        180 K




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


Ask Jeeves - ASKJ - cls: 16.80 chng: -0.59 - stop: 18.61*new*

Although many Internet-related stocks and the $INX, the CBOE
Internet Index, rose Wednesday, ASKJ declined 3.39 percent on
about 1.7 times average daily volume.  The decline sent ASKJ
below its rising trendline.  The stock is also now below its 10-,
21-, 30-, and 50-dma's.

ASKJ bounced from support at $16.00, but the bounce could not
bring it back above the rising trendline.  MACD continues to look
bearish, but stochastics hint that ASKJ may not be through
testing that broken trendline.  New entries can now be found on a
rollover anywhere beneath $18.00.  We're lowering our stop to
$18.61, just above the 50-dma and the recent consolidation zone.

Annotated Chart for ASKJ:


Picked on Sep 28 at $17.15
Change since picked: -0.35
Earnings Date:    10/22/03 (unconfirmed)
Average Daily Volume:  347 thousand





==================================================================
STOCK SPLITS/ANNOUNCEMENTS
==================================================================


HAR proposes a 2-for-1 stock split

Before today's opening bell, Harman International Industries Inc's
(NYSE:HAR) Board of Directors approved a 2-for-1 stock split of
its common shares.

Currently the company is not authorized to issue enough shares for
the 2-for-1 split so management will seek to increase the number
of authorized shares from 100 million to 200 million at their
November 12th annual meeting.  Only shareholders on record as of
September 15th will be eligible to vote.

The company did not give any payable dates for the split and we
suspect it will be determined at their annual shareholder meeting.


About the company:
Harman International Industries, Incorporated (www.harman.co,) is
a leading manufacturer of high-quality, high fidelity audio
products and electronic systems for the consumer and professional
markets. The Company's stock is traded on the New York Stock
Exchange under the Symbol: HAR.
(Source: Company Press Release)

---

ATU motions for a 2-for-1 stock split

Before today's opening bell, Actuant Corp's (NYSE:ATU) Board of
Directors declared a 2-for-1 stock split of its common shares.

The payable date on the stock split is October 21st, 2003 to
shareholders on record October 10th.  This is ATU's first split
since their 1-for-5 reverse split in 2001.


About the company:
Actuant, headquartered in Milwaukee, Wisconsin, is a diversified
industrial company with operations in more than 20 countries. The
Actuant businesses are leading companies in highly engineered
position and motion control systems and branded tools. Products
are offered under such established brand names as Enerpac, Gardner
Bender, Kopp, Kwikee, Milwaukee Cylinder, Nielsen Sessions, Power-
Packer, and Power Gear.
(Source: Company Press Release)




=================================================================
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 (c) 2003  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.

DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

To ensure you continue to receive email from Option Investor please add "support@optioninvestor.com"

Option Investor Inc
PO Box 630350
Littleton, CO 80163

E-Mail Format Newsletter Archives