PremierInvestor.net Newsletter Wednesday 10-08-2003 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: A Little Overdue 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) ================================================================= 10-08-2003 High Low Volume Advance/Decline DJIA 9630.90 - 23.71 9672.02 9595.28 1.51 bln 1213/1582 NASDAQ 1893.78 - 14.07 1914.33 1888.53 1.78 bln 1257/1839 S&P 100 516.54 - 3.10 520.02 515.03 Totals 2470/3421 S&P 500 1033.78 - 5.47 1040.06 1030.96 RUS 2000 515.68 - 5.09 521.05 514.56 DJ TRANS 2791.62 - 8.76 2803.04 2782.62 VIX 19.18 - 0.23 19.61 19.08 VXN 29.16 - 0.14 29.46 28.94 Total Volume 3,606M Total UpVol 1,503M Total DnVol 2,058M 52wk Highs 752 52wk Lows 18 TRIN 1.34 PUT/CALL 0.81 ================================================================= =========== Market Wrap =========== A Little Overdue by James Brown U.S. markets closed in the red for the first time this October ending a five-day winning streak for the bulls. The general mood on Wall Street was nonchalant since stocks were over due for some profit taking. The NASDAQ composite managed to tag a fresh 52- week high near the opening bell before slipping back and the Dow Industrials traded in a narrow 80-point range all day. Contributing to the market's weakness was a one-two punch for telecom stocks but overall the session was a patchwork of individual news. Overseas markets were mixed. The British FTSE dropped less than four points while the German DAX added almost 40. Hong Kong's Hang Seng index inched down 3 points but the Japanese NIKKEI index posted its first loss in six days and it was a big one. The NIKKEI dropped 278 points or 2.57% to 10,542 as the dollar continued to weaken against the yen. We keep hearing about the new "line in the sand" where the Bank of Japan is going to defend the yen. First it was 111, then it was 110. The U.S. dollar slipped to 109.58 against the yen, just barely above its three- year low at 109.38. Some currency traders are expecting the BoJ to intervene soon despite the G7's statement two weeks about arguing against currency manipulations. A stronger yen makes Japanese exports more expensive overseas and impacts corporate profits. The dollar also happens to be trading near all-time lows against the euro. Fortunately, the profit taking here at home was much more mild. The DJIA only lost 23 points closing at 9630. The NASDAQ Composite fell 14 points to 1893 and the S&P 500 dropped just over 5 points to close at 1033. Market internals were negative. Declining stocks outnumbered advancing issues almost 16 to 12 on the NYSE and 18 to 12 on the NASDAQ. Down volume outpaced up volume on both exchanges but overall volume remained modest. Chart of the DJIA: Chart of the NASDAQ: Telecom Weakness U.S. telecom companies Verizon Communications (VZ), SBC communications (SBC) and BellSouth Corp (BLS) joined wireless companies AT&T Wireless (AWE), Nextel Communications (NXTL) and Sprint PCS Group (PCS) in contributing to the S&P 500 weakness. Local-telephone companies lost ground after the FTC won an appeals court decision in the national "do not call" list debate. The national "do not call" list has ballooned to more than 51 million consumers and the vast majority of telemarketers would be barred from calling consumers on the list. The appeals court win late Tuesday means the FTC can begin to enforce the list immediately. This could certainly put a dent in telephone traffic for the larger networks. Meanwhile, wireless companies now have to deal with the new FCC rule effective Nov. 24th that will allow customers to keep their mobile phone numbers when they change carriers. If wireless service wasn't a commodity business already it just took a big step that direction today as everything begins to boil down to price. This is going to increase customer turnover, which raises expenses for these wireless companies. Software Stronger Swimming up stream today was the GSO software index. It marked a fresh 52-week high on positive news from SAP. Shares of SAP soared 14 percent to $38.55 after the German-based software developer pre-announced stronger than expected earnings. The company is expected to report on October 16th but SAP told Wall Street that Q3 sales should come in around $1.95 billion(US), stronger than the consensus estimates of $1.8 billion. SAP said it was enjoying a stronger contract closure rate in the U.S. This news also boosted rival software developer Oracle (ORCL). News Worthy Making headlines today was news that General Electric (GE) had finally reached an agreement with Vivendi (V) to merge GE's NBC unit with V's Universal Entertainment division. GE will fork out $3.8 billion to own 80 percent of the joint venture creating a combination movie studio-television network giant. The new GE division will be named NBC Universal. Investors are also watching GE because the behemoth announces earnings on Friday and estimates are for 40 cents a share. Unfortunately, not all the earnings news was good today. Big Lots (BLI) doesn't announce earnings until next month but the stock was hit for a 7 percent loss on negative guidance. The latest guidance put BLI's Q3 numbers in the -3 cents to +1 cent per share range. This morning's press release said comparable store sales were actually up more than 5 percent but earnings would be near the low end of forecasts due to an unexpected slow down in higher-margin items. Another retailer feeling the heat was Winn-Dixie Stores (WIN). The company reported earnings that beat estimates by a penny but shares lost almost six percent. WIN reported a 96% drop in profits for its fiscal Q1 for 2004 blaming increased promotional costs. Also falling flat were shares of Papa John's Intl. Inc (PZZA), which lost 7.6% after warning that earnings would be much worse than expected. The news actually came out late yesterday. PZZA said comparable same store sales dropped 6.7% in September. The company is expected to report at the end of October and estimates had been for $2.19 a share. Now PZZA expects earnings to fall between $1.75 and $1.65 a share. YHOO Beats! Thankfully, earnings news from BLI, WIN and PZZA just don't carry a lot of weight and the markets will likely over look them as company-specific potholes. But high-flyers of yesteryear like Yahoo! Inc (YHOO) capture the imagination of bulls and bears alike. The company reported earnings after the bell this evening and the numbers were good. YHOO turned in its eighth profitable quarter and beat estimates by a penny with 10 cents a share. More importantly, revenues were up strongly from $249 million last year to $356 million in the third quarter, passing estimates of $337.8 million. The stock was trading up in the after hours session and is likely to fuel positive moves for fellow Internet stocks Amazon.com (AMZN) and Ebay (EBAY). Tomorrow Assuming there aren't any pre-market earnings implosions then the YHOO news could certainly power a surge in the tech sector. Fortunately, the bond market is holding steady after today's $16 billion auction of 5-year notes and we'll see another $9 billion sold in 10-year notes tomorrow. In the last two days we've heard from three Federal Reserve speakers and the message has been a positive one. Now if we can get another good weekly jobless claims report and some stronger same store sales data tomorrow morning then bulls might continue their October stampede. ================= 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 FNM Fannie Mae 72.31 +0.84 FRE Freddie Mac 56.55 +1.30 CHA China Telecom 28.48 +1.18 DUK Duke Energy Corp 18.64 +0.64 IR Ingersoll-rand Ltd CI A 57.45 +0.78 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- UPL Ultra Petroleum Corp 17.49 +1.95 ADEX Ade Corporation 19.56 +2.06 ABAX Abaxis Inc 15.85 +1.10 NENG Network Engines Inc 8.15 +1.15 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- SAP Sap Ag (ADS) 38.55 +4.83 EMR Emerson Electric Co 55.06 +1.47 CFC Countrywide Financial 85.48 +1.11 TXT Textron Inc 43.89 +2.17 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- CAJ Canon Inc (ADR) 47.49 -2.46 FISV Fiserv Inc 37.01 -1.37 SRE Sempra Energy 28.45 -1.95 BVF Biovail Corp 25.20 -3.85 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- CTBI Community Trust bncp Inc 29.27 -0.97 PEBO Peoples Bancorp Inc Oh 27.05 -0.88 APL Atlas Pipeline Prtnrs Lp 34.75 -0.36 ================================================================= 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 10-08-2003 section 2 of 2 Copyright ) 2003, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= Tech Stocks New Bearish Plays: HTCH Active Trader (Non-tech) New Bearish Plays: DLTR Bullish Play Updates: DISH, GENZ, TYC, ZMH Bearish Play Updates: MMC High Risk/Reward Bullish Play Updates: DRTE, ORB Stock Splits/Announcements Stock Splits: OTEX ================================================================== Net Bulls (NB) Tech Stock section ================================================================== ========= NEW PLAYS ========= ----------------- New Bearish Plays ----------------- Hutchinson Tech. - HTCH - close: 32.20 change: -1.16 stop: 34.75 Company Description: Hutchinson Technology Inc. is a supplier of suspension assemblies for hard disk drives. The company categorizes its products as either suspension assemblies or other products, which consist primarily of etched and stamped components used in connection with or relate to suspension assemblies. HTCH manufactures its suspension assemblies with proprietary technology and processes to precise specification with very-low, part-to-part variation. These specifications are critical to maintaining the necessary microscopic clearance between the head and disk and the electrical connectivity between the head and the drive circuitry. Why we like it: Following along with the overall NASDAQ, HTCH had a nice run from the March lows near $22 up to the $37 level in mid-July. The August swoon found plenty of sellers in the stock, which was quickly smacked down to the $27 level, before the bulls once attain prevailed, sending the price back up to $37. Since then, HTCH appears to be losing strength with respect to the overall Technology market, posting a lower high near $34.50, with resistance being found at the 20-dma ($34.37) over the past week. Selling volume has been picking up the past couple days, as the stock has been dropping sharply (-3.48% on Wednesday), and it is right on the cusp of a significant breakdown. Price rebounded from the $31.50 area today, which just happens to be the site of the intraday low the day before the big gap down on 7/23. Once through that gap, HTCH looks like it could make rapid strides towards the 200-dma ($27.73) after a brief pause at mild support in the $29.40-30.25 area. Aggressive traders can consider using another failed rebound below the 20-dma as a viable entry point, while the more conservative approach will be to wait for a break below the $31.50 level. Note that the PnF chart is still technically on a Sell signal with a bearish price target of $16. There's definitely plenty of downside potential. We'll content ourselves with a target of $28 and look to harvest gains when that level is reached. An alternate entry strategy would be to wait for a failed rebound after HTCH trades below the $31.50 level, ideally in the $32.00-32.50 area. Place stops initially at $34.75, which is just above the recent intraday highs, as well as the 20-dma. Annotated Chart of HTCH: Picked on October 8th at $32.20 Change since picked +0.00 Earnings Date 11/03/03 (confirmed) Average Daily Volume = 501 K ================================================================== Stock Bottom / Active Trader (AT) section ================================================================== ========= NEW PLAYS ========= ----------------- New Bearish Plays ----------------- Dollar Tree Stores - DLTR - close: 34.36 change: -1.53 - stop: 35.76 Company Description: Dollar Tree Stores, Inc., the nation's largest $1.00 discount variety store chain, operates 2,468 stores in 47 states as of August 2, 2003. The Company also operates a coast-to-coast logistics network of eight distribution centers, with two more presently under construction. (Source: Company Press Release.) Why We Like It: Earlier this week, DLTR reaffirmed its guidance, but investors must not have liked what they heard. Wednesday, they sent the stock down 4.26 percent on more than double average daily volume. The drop was so precipitous that Wedbush spoke out Wednesday morning, reiterating its buy rating on the stock. Perhaps Wedbush's support helped. The stock steadied the rest of the day, trading near $34.50 through the morning and afternoon. We think it looks due for a breakdown, however. The chart takes on a head-and-shoulders look, and a breakdown below the $33.50 neckline should get the descent going faster. MACD is already below signal, RSI has already turned, and the 21(3)3 stochastics hook over from below levels indicating overbought conditions. A descending trendline caps any attempts to rise. A couple of cautions exist. Although the S&P Retail Index, the RLX.X, did drop on Wednesday, it's been performing strongly with expectations for a strong holiday season. Also, DLTR currently shows a P&F buy signal. A trade below $34.00 will produce a new sell signal, however. The play will trigger on a drop below that $33.50 neckline and will target the 200-dma, currently at $28.42. Our initial stop will be placed just above the descending trendline capping upward moves, but we expect to lower that stop quickly after the play triggers. Conservative players might set a stop just above the H&S neckline. Annotated Chart for DLTR: Picked on Oct 08 at 34.36 Change since picked: -0.00 Earnings Date: 10/23/03 (confirmed) Average Daily Volume: 1.6 million ============ PLAY UPDATES ============ -------------------- Bullish Play Updates -------------------- EchoStar - DISH - close: 40.20 change: -0.33 - stop: 38.10 With Comcast (CMCSA) in the news this week due to a couple of court rulings, much attention focused on the cable and satellite companies. We caught a CNBC discussion early this week regarding the former opinion that cable would be preferred over satellite and satellite companies would slip into oblivion. That hadn't happened, the discussion concluded. We're glad to hear that news. DISH pushed above the midline of its ascending regression channel this week. It also climbed above $40.00. Now it pauses, consolidating at the midline of its regression channel and just above $40.00. That consolidation offered several pullback-and- bounce entries, with Tuesday's decline taking DISH as low as $39.56. Volume dropped appropriately during the consolidation, with Wednesday's down volume considerably below the average daily volume. MACD flattens, the lines braiding in and out as sometimes happens during consolidation. RSI does show the troubling possibility of a lower high as price made a higher high, but that's not confirmed yet. We do note that RSI maintains its trend of higher lows, a reassuring observation to balance the more troubling one. New entries can still be sought on pullbacks and bounces from above $39.50 or on momentum moves above this week's high. First confirm that RSI has not violated its trendline of higher lows. Annotated Chart for DISH: Picked on Oct 03 at 39.95 Change since picked: +0.25 Earnings Date: 08/13/03 (confirmed) Average Daily Volume: 2.2 million --- Genzyme Corp. - GENZ - cls: 47.99 chng: -0.62 stop: 45.75 Despite several attempted rallies over the past week, the Biotechnology index (BTK.X) just can't seem to make any upward progress. Each rally attempt has been shoved back beneath the 20-dma ($473), which has now begun to roll lower. Our GENZ play is struggling in a similar fashion, as last week's pop up to the $50 level has been rejected and the stock is coming back to test support in the $47.50 area over the past couple days. We're still looking for a rally towards the $52 level ahead of earnings on 10/15, but clearly time is running out. A rebound from above $47 can be used for initiating new positions, but remember that we'll be dropping the play next Tuesday ahead of the company's earnings report. Maintain stops at $45.75, just below the bottom of the rising channel. Picked on October 1st at $47.50 Change since picked +0.49 Earnings Date 10/15/03 (confirmed) Average Daily Volume = 2.93 mln --- TYCO - TYC - close: 21.35 change: 0.01 - stop: 19.99 Tuesday, as opening statements began in the trial of TYC ex-CEO Dennis Kozlowski, we counted six articles focusing on the trial. TYC nevertheless managed another bounce from its rising trendline that day. Wednesday ended with TYC again above that trendline, but the doji's short lower shadow would probably not count as a bounce. On a day when the Dow lost 0.25 percent, we're satisfied with TYC's minimal 0.05 percent loss. TYC's climb this week has been so gradual that it could more nearly be described as consolidation. In keeping with that consolidation, the indicators flattened, with stochastics and RSI flattening along trendlines they had previously violated. Still, we can't ignore that doji sitting at the top of TYC's most recent climb. Such doji indicate indecision, but they can also signal a trend change. This one's opening and closing prices are positioned in the middle of the small gap from mid-September. TYC perhaps had trouble battling its way above that gap, especially as the weak performance of the broader markets offered it little momentum. If that doji does signal a potential reversal, however, the first line of defense will lie at the moving averages grouped between $20.21 and $21.00. Conservative traders might position their stops beneath the 30-dma, while more aggressive traders might feel comfortable with our current $19.99 stop, just below the rising 50-dma. Because of those small- bodied candles and Wednesday's doji, traders might wait for a break above $22.00 for new entries. Annotated Chart for TYC: Picked on Sep 21 at 21.90 Change since picked: -0.55 Earnings Date: 11/04/03 (confirmed) Average Daily Volume: 8 million --- Zimmer Holdings - ZMH - cls: 57.20 chng: -0.09 - stop: 56.24*new* After ZMH broke above its rising regression channel on Monday, ZMH investors weren't at all sure whether they wanted to drive the stock higher. Tuesday, ZMH printed an inside-day candle. That indecision continued Wednesday when ZMH printed a doji inside Tuesday's range, printing the second inside day in a row. News has been slight after the last week's acquisition of Centerpulse. Monday, the company announced a new global executive team, and Wednesday, news circulated of other M&A's in the sector. Perhaps with the news so light, ZMH needed to consolidate recent gains. Wednesday's doji was produced on less than half average daily volume. On a day when the Morgan Stanley Healthcare Products Index RXP.X and many stocks in that sector lost 0.33 percent and more, ZMH performed better. We'll be watching for either a break above or below the inside- day formations. RSI continues its pattern of higher lows and MACD slopes upward, so it's possible the break could be to the upside. We've raised our stop to $56.24 to bring us out of the play if the break should be to the downside. ZMH's earnings release has now been scheduled for October 22, so those considering an entry on a break above the inside-day formation should be aware that the new entries would have to perform quickly. Annotated Chart for ZMH: Picked on Sep 17 at 53.87 Change since picked: +3.33 Earnings Date: 10/22/03 (confirmed) Average Daily Volume: 2.2 million -------------------- Bearish Play Updates -------------------- Marsh & McLennan - MMC - close: 47.96 change: -0.54 stop: 49.75 As mentioned in the initial write up, MMC, won't be a fast mover, but we certainly can't complain about the way it is continuing to be rejected at the descending trendline that began in the middle of June. The bulls tried to rally on Monday, but the early rise was quickly smacked down. The past couple days have been encouraging to the bears, especially today's rejection at the 20- dma ($48.77) and subsequent 1.1% loss. Despite all that constructive price action, we're still waiting for our trigger to be satisfied. MMC needs to break the 200-dma (currently $47.44) to convince us that the downside has potential. The slight rise in the 200-dma gives us the freedom to raise our entry trigger to $47.40. Wait for the trade under that level before playing, either entering on the initial breakdown or on a subsequent failed rebound below the descending trendline. Remember, our initial target will be $42, which provides a very attractive risk-reward with our stop set at $49.75. Picked on October 5th at $48.18 Change since picked -0.22 Earnings Date 10/21/03 (unconfirmed) Average Daily Volume = 1.77 mln ================================================================== HIGH RISK/HIGH REWARD (HR) section ================================================================== ============ PLAY UPDATES ============ -------------------- Bullish Play Updates -------------------- Dendrite Int'l - DRTE - cls: 15.29 chng: -0.61 stop: 14.59 Helped along by the broad market strength, DRTE gave us a pretty convincing breakout over $16 last Friday, complete with a pattern of increasing volume. That bullish picture has been fading all week, with the stock heading sharply lower today for a loss of 3.8%. That slide dropped the stock back under the center-line of the rising channel and the next likely support levels are $15.00 and then again at $14.75. A rebound from either of those levels (preferably on strong volume) can be used for new entries, with the 30-dma ($14.71) likely to provide reinforcement to that support. Our stop is currently at $14.59, just under last week's intraday lows. If that level of support is broken, then we'll definitely want to be out of the play, as we would be faced with a violation of the pattern of higher lows. But until that happens, we'll continue to advocate buying the dips, looking for a move to our first target of $18. Picked on September 24th at $15.55 Change since picked -0.26 Earnings Date 10/23/03 (unconfirmed) Average Daily Volume = 180 K --- Orbital Sciences - ORB - cls: 9.56 chng: -0.11 - stop: 9.24 ORB made the finals--the finals of the competition to build Vietnam's first satellite. The decision should be made by the end of the year. Perhaps all that indecision showing up on the daily chart in the form of small-bodied candles and consolidation formations will be resolved once Hanoi announces its decision. Depending on how the upper trendline is drawn and which candle shadows are included, the current consolidation pattern could be a rectangular consolidation with flat bottom and flat top, or a right triangle with a flat bottom and a descending top. The first is a continuation pattern, meaning that ORB would likely break to the upside since that was the direction it was headed before the pattern formed. The second is a reversal pattern, with the likely break to the downside. As often happens with any consolidation pattern, oscillators give few clues. Possible lower highs show up on the oscillators, but those same lower highs show up on the price chart, too, so this is not divergence, bearish or otherwise. The DFI.X, the AMEX Defense Index, also flattens, also printing a doji on Wednesday. Whatever ORB's pattern might be, it offers clear-cut levels for new entries and stops. New entries could be found on an upside break of the upper trendlines, now converging. However, since ORB has tentatively set its earnings release for October 15-17, we would not suggest new entries at this time. We set our stop at the lower trendline. Annotated Chart for ORB: Picked on Sep 3 at $9.18 Change since picked: +0.38 Earnings Date: 10/15/03-10/17/03 (unconfirmed) Average Daily Volume: 347 thousand ================================================================== STOCK SPLITS/ANNOUNCEMENTS ================================================================== OTEX opens up to shareholders with a 2-for-1 stock split Mid-session today, Open Text Corp's (NASDAQ:OTEX) Board of Directors declared a 2-for-1 stock split of its common shares. The payable date on the stock split is October 28th, 2003 to shareholders on record October 22nd. After the split OTEX will have approximately 38.6 million shares outstanding. This is OTEX's first split since being listed on the NASDAQ in 1996. About the company: Since 1991, Open Text Corporation has delivered innovative ECM software that brings people together to share knowledge, achieve excellence, deliver innovation, and enhance processes. Its legacy of innovation began with the successful deployment of the world's first search engine technology for the Internet. Today, as the leading global supplier of collaboration and knowledge management software for the enterprise, Open Text supports fifteen million seats across 10,000 corporate deployments in 31 countries and 12 languages throughout the world. As a publicly traded company, Open Text manages and maximizes its resources and relationships to ensure the success of great minds working together. For more information, visit www.opentext.com (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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