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.
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