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PremierInvestor.net Newsletter          Weekend Edition 10-19-2003
                                                    section 1 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:      Happy Anniversary
Play-of-the-Day:  Heal Thyself
Market Sentiment: Earnings Sentiment


=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
       WE 10-17        WE 10-10        WE 10-03         WE 9-26 
DOW     9721.79 + 47.11 9674.68 +102.37 9572.31 +259.23 -331.74  
Nasdaq  1912.36 -  2.95 1915.31 + 34.74 1880.57 + 88.50 -113.63 
S&P-100  518.12 +  0.07  518.05 +  2.88  515.17 + 15.56 - 21.01 
S&P-500 1039.32 +  1.26 1038.06 +  8.21 1029.85 + 33.00 - 39.45 
W5000  10098.38 + 13.06 10085.3 + 95.02 9990.30 +343.82 -407.59 
RUT      520.36 +  1.30  519.06 +  6.78  512.28 + 27.00 - 34.92 
TRAN    2847.28 + 23.73 2823.55 + 38.70 2784.85 +121.02 -130.88 
VIX       17.62 -  0.83   18.45 -  1.05   19.50 -  2.73 +  3.16 
VXO       19.19 -  0.05   19.24           20.49
VXN       25.33 -  2.29   27.62 -  1.58   29.20 -  1.68 +  1.14 
TRIN       1.59            1.24            0.60            1.42 
Put/Call   0.64            0.93            0.75            0.98 
WE = week ending
================================================================= 

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

      
Happy Anniversary
by Jim Brown

Last week we celebrated the one-year birthday of the new bull
market. This week we celebrate the 16 year anniversary of the
October-19th market crash of 1987. Stocks dropped -508 points,
-23%, on that Monday and traders were caught completely off 
guard. The market had just set a new all time high and the 
drop was made worse by an all time high of stocks bought on 
margin. With stocks only a couple days from recent highs and 
margin debt at an all time high again some traders felt the 
drop on Friday could have been fears of a repeat. 

Dow - October 1987



October Crash - Intraday



While nobody expects 1987 to repeat 16 years later there are
professional traders who remember that day and probably take
precautions each October. Some of those precautions this week
could have been taking some profits off the table on Friday. 
After all the markets are very extended and many traders could
quit today and have a very good year. 

Unlike 1987 we are doing much better economically than we 
were just a few months ago. On Friday Residential Construction
rose to 1.89 million units amid another spurt in buying 
prompted by last months temporary dip in interest rates. This
is a huge number for this late in the cycle and only 2,000  
away from the record June rate. Building permits declined 
slightly as we near the fall weather slow down. 

The new highs in the market helped boost Consumer Sentiment
to 89.4 from 87.7 in September. Both current conditions and
expectations rose with present conditions soaring to 102.2.
This is a very strong survey and represents a widespread
feeling of economic improvement by consumers. Despite the 
war, yes it is still underway, unemployment and rising energy
prices the average consumer feels pretty good about the future.
The market is strong, interest rates although higher are still
very low and you have dozens of talking heads on daily TV
talking about the economic recovery and +6% GDP. The yellow
brick road could need to be widened if this euphoria gets 
any stronger. 

Despite the prior comments that euphoria could evaporate in
a moment with another terrorist attack, market crash or the
failure of the economic recovery to appear. Yes, despite the
better than expected earnings in this cycle there are still
hushed conversations in dark places about the chances of a 
real recovery. Those conversations are likely taking on much
more relaxed tones with the top line revenue numbers for S&P
companies rising +8% for those already reported. Actually
the pressure to perform is easing as the earnings parade
continues to build. Estimates for the 3Q were +16% two weeks
ago and with 92% of the companies meeting or beating that
number has risen to +20%. Very strong earnings even if they
are being compared to a weak quarter in 2003. 

There have been some stumbles and there are some clouds on
the horizon. The misses have been spotty and sporadic with
only a few in the high profile names. On Friday Mohawk
Industries warned that there was still uncertainty in 
consumer confidence trends and unemployment continued to
depress sales. The carpet company lost -$4.60 or -6% in
heavy trading. XL Capital, a reinsurance business, slashed
forecasts for the 3Q due to stronger than expected losses. 
The company lost -$6.03 or -7.6% on the news. SUNW and EBAY
were under pressure after their earnings reports despite
the earnings meeting or exceeding estimates. EBAY dropped 
-5% after giving guidance that was less than what the street
expected. As companies like EBAY become more mature the 
astronomical growth rates of the early years fade and while
still good they do not live up to investor hopes. EBAY is 
currently trading at a PE of 78 using 2003 earnings. CAT 
lost several of its lives with a drop of nearly -$6 after
failing to reward investors to the level they expected.
In Q2 CAT earnings increased +75% and CAT closed at a new
52-week high the day before announcing earnings this week.
Everyone expected another blowout performance. Instead they
only saw a gain of +4% this quarter and raised estimates to
$3.00 for the year and guided to a +10% growth rate. Analysts 
were expecting $3.15 for the year because of the 2Q gains.
They also missed street estimates substantially for the 3Q.
DCLK missed estimates and guided lower and added pressure
to the Internet sector in front of the AMZN earnings next
week. 

After months of market gains the "valuation" downgrades
are beginning to fly. Sears was cut by Prudential despite
strong improvements in their retail model. This is just an
example but the trend is beginning to heat up. With many
stocks up +50% or even +100% from their bear market lows 
they are low hanging fruit for analysts trying to get their
name in print. This trend will intensify by the end of next
week when nearly 70% of companies will have completed their
earnings confession. 

Friday's market action was not unexpected. The lack of a real
and sustainable bounce over the last five days was beginning
to suggest that all the good news was priced into the market
and the bullish bloom was fading. The sell off did not occur
on strong volume with only 3.6 billion shares traded across
all markets but that volume was 4:1 to the downside. That 
was the strongest ratio in either direction since Sept-26th.
Decliners beat advancers over 2:1. The worst indicator for
the health of the market was one I discussed positively just
a few days ago. The Russell 2000 lost -9.28 (-1.7%) after
stalling for four days at a new three year highs. By itself
this would not be a material move but it is a reversal of
the strong trends from last week. Funds were pouring money
into small caps when they would normally be cutting back on
positions before their fiscal year end in two weeks. We do 
not know if this was just profit taking by different funds
or the leading edge of that suspected portfolio reshuffle. 
It was a dramatic move from an index that has been so 
strong. 

Russell 2000



The Dow has tried to climb over 9800 for four consecutive
days and on Friday it lost ground to trade at 9701 before
seeing some short covering at the close. A -69 point Dow
drop after +500 points of gains over the last two weeks is
nothing. It is barely legitimate profit taking and should 
not be construed as anything else. We can speculate that it
could be the leading edge of a bigger October event but it
would just be speculation. 

Dow 60 min Chart



The Nasdaq suffered more than the Dow by losing nearly -2%
or -38 points and closing in on 1900 once again. Tech stocks
that disappointed or in some cases surprised with earnings
this week were getting killed as investors raced for the 
exits. Losers on Friday for instance included DCLK -24%, 
RSAS -20%, WEBX -18%, SPRT -17%, BRCM -8%, PXLW -8%, MRVL 
-6%, RMBS -6%, ALTR -6%. Add in EBAY -5% and AAPL -8% and
the index never had a chance. If anything this could be 
the leading indicator for the future of the market. These 
companies were sold despite good news from several. The 
tech sector and the market have very high hopes already 
priced in and once those earnings are out those hopes are
meeting reality. The reality is great earnings across the 
board but not great enough to protect stocks from potential
profit taking. 

Nasdaq Chart



Next week we have over 700 companies reporting earnings,
most in the first four days. Most will meet or beat the
street if the current 92% average hold true. There are no
material economic reports and we will be left to fixate
on the individual earnings and watch as the winners and
sinners hit the tape after earnings. Whether those stocks
will be rewarded with cheers or catcalls is up to investor
expectations. Intel, helped power techs on Wednesday with
its very strong report but closed Friday at a three day
low. The 15 min of fame can be very fleeting and investors
are very demanding. 

With options expiration on Friday we should see a very active
open on Monday. Funds who sold covered calls on stocks while
hoping to squeeze a couple more dollars of profit out at the
top should have those stocks called away because of the market
gains over the last four weeks. If they do this on stocks they
are planning to sell anyway then being called away prevents
having to sell them. Depending on how widespread this tactic 
was it could be a volatile Monday as those stocks are put 
back into circulation by the option holders. 

Either way next week promises to be very volatile. With 700
earnings reports, almost no economic reports and only two
weeks to go before fund year end anything can happen. Based
on my email I know the bullish sentiment is alive and well.
With margin debt at an all time high many of those bulls 
have bet it all on the 4Q recovery. That puts a lot of stock
in weak hands and according to all reports economic conditions
are improving but still challenging. GE, CAT, INTC, IBM and
many others all repeated the same story. "Signs of economic
stabilization but too soon to call it a recovery." It is like
they all have the same speech writers. If you are a hard core
bull you are thinking I am crazy. I had an email to that effect
on Friday. Something along the lines of "Are you on drugs?
Everybody knows we will be at 11,000 before the end of the
month." You know, it is possible. I cannot concoct a scenario
that would make it happen but then the market does not ask
me for direction. I just try to paint the picture as I see
it and let the readers make their own decisions. I thought
Thursday would be the high for the week but CAT and IBM
spoiled the party and Wednesday turned out to be the winner. 

I guess it all boils down to this. We know that some companies
will beat estimates next week and some will miss. The question
is whether enough companies best estimates by a wide enough
margin to offset the negative sentiment from those who don't.
Who is announcing next week that has the power to explode the
market over 9800? MMM, MSFT? What could they say that would
be better than the Intel earnings? At this point it would 
have to be a lot better because the excitement is beginning
to fade. Even if we do see some profit taking over the next
couple of weeks it is just PROFIT taking. It will not be the
end of the world. Just think of it as a buying opportunity.
There are millions of investors sitting by their PC this 
weekend just hoping there will be a normal October buying 
opportunity so they can get that second chance for a cheaper
entry. Those reluctant investors who missed the last several
dips and have been watching the Dow close in on 10,000 are
chomping at the bit to go long. If it comes there is a lot
of money still on the sidelines and I would be very surprised
if that 10K level was not in our rear view mirror by year end.
Until then keep those seat belts fastened because the lead car
in this thrill ride may be just about to disappear from sight.
   
Enter Very Passively, Exit Very Aggressively!

Jim Brown


=========================
Play-of-the-Day (Bearish)
=========================

WebMD Corp - HLTH - close: 7.93 change: -0.26 - stop: 9.51

Company Description:
WebMD Corporation provides services that help physicians, 
consumers, providers and health plans navigate the complexity of 
the healthcare system. Our products and services streamline 
administrative and clinical processes, promote efficiency and 
reduce costs by facilitating information exchange, communication 
and electronic transactions between healthcare participants.  
WebMD Health is the leading provider of online information, 
educational services and communities for physicians and 
consumers. WebMD Medical Manager is the leading provider of 
physician practice management software and related services. 
WebMD Envoy is the leader in payer and healthcare provider 
transaction processing and reimbursement cycle management 
services.  (Source:  Company Press Release.)  

Why We Like It:
We're not trying to pick on HLTH.  We actually like the services 
the company provides to consumers.  However, HLTH has one of the 
ugliest charts we've ever seen.  Make that two of the ugliest 
charts we've ever seen.  Although HLTH has met the $9.00 target 
predicted by its original P&F sell signal, Monday it fell below 
its bullish support line on the P&F chart and created a new 
descending triple bottom breakdown sell signal.  

What happened Monday?  That's the day HLTH revealed that it 
expected Q3 and Q4 results below consensus.  Already troubled by 
the revelation in early September that it had been issued a 
search warrant by the DOJ, the stock had been in a steep decline.  
Monday, it gapped down but rose that day and through the middle 
of the week, trying to fill the gap and climb above the midline 
of its descending regression channel.  By Wednesday, the stock 
began declining again.  We think the descent could take it to 
$6.50, the location of an ascending trendline that began forming 
in early 2001.   

MACD turned down again below signal.  RSI turned down again, too.  
Although stochastics are in territory indicating oversold 
conditions, they have not tried roll up, and may begin trending 
at that level.  

Two possible entries suggest themselves.  One entry would be on a 
bounce and rollover from anywhere beneath $8.50.  Another would 
be on a drop through last Monday's low. Volume was high last 
Monday and Tuesday as investors snapped up HLTH at supposed 
bargain prices.  We think they'll dump shares quickly once HLTH 
falls below Monday's opening level.

Annotated Chart for HLTH:


Picked on Oct 17 at $7.93
Change since picked: -0.00
Earnings Date:    11/06/03 (confirmed)
Average Daily Volume:  4.9 million






================================================
Market Sentiment
================================================

Earnings Sentiment
- J. Brown

I hope everyone is familiar with the term "sell the news" because
we may be seeing that on a market-wide scale soon.  For weeks 
we've been told about how great the Q3 earnings were going to be.  
Thankfully, not only have they been good but most companies are 
beating even the strong estimates for 16 percent improvement.  
Sure there are a few misses here and there but there always will 
be.  Yet now that earnings are here it tends to be anticlimactic.  
We'll get some earnings announcement spikes but many times we'll 
be left with a post-earnings depression.  

Momentum traders pull out looking for their next ride and the 
markets are left with the thought "what's next?"  Of course I'm a 
little early to be discussing the denouement to Q3 earnings 
season.  This coming week we'll hear from hundreds of companies 
and as Jim alludes to in his wrap the roller coaster is just 
getting started.  Like many coasters we tend to have a long, slow 
grind higher setting us up for the thrilling, sometimes 
terrifying drop.  Of course it's the big fall that gives us 
enough velocity to make it up the next hill.  Judging from the 
market internals on Friday we could see a continuation of the 
selling early next week.  On both the NYSE and the NASDAQ 
decliners outnumbered advancers by more than 2 to 1 and down 
volume out paced up volume by more than 3 to 1 on the NYSE and 4 
to 1 on the NASDAQ.  We haven't seen bearish internals like that 
in a while.  

Traders should be double-checking their stops and looking at 
their favorite stocks for the next support level.  There's still 
going to be a lot of dip buying but the question is how deep will 
the dip be.  It can be painful to try and pick the bounce before 
it's truly begun so use extreme caution. 


-----------------------------------------------------------------

Market Averages

DJIA ($INDU)

52-week High:  9850
52-week Low :  7197
Current     :  9721

Moving Averages:
(Simple)

 10-dma: 9712
 50-dma: 9480
200-dma: 8774

S&P 500 ($SPX)

52-week High: 1053
52-week Low :  768
Current     : 1039

Moving Averages:
(Simple)

 10-dma: 1041
 50-dma: 1016
200-dma:  940

Nasdaq-100 ($NDX)

52-week High: 1439
52-week Low :  795
Current     : 1394

Moving Averages:
(Simple)

 10-dma: 1403
 50-dma: 1342
200-dma: 1171


-----------------------------------------------------------------

Normally when the markets slide the volatility or fear indices tend
to move higher.  We do see some small gains but investors are still
feeling pretty fear-less.

CBOE Market Volatility Index (VIX) = 17.62 +0.43
CBOE Market Volatility Index (VXO) = 19.19 +0.07
Nasdaq Volatility Index (VXN)      = 25.33 -0.14


-----------------------------------------------------------------

          Put/Call Ratio  Call Volume   Put Volume

Total          0.64      1,152,086       733,258
Equity Only    0.46      1,017,225       463,135
OEX            1.24         43,281        53,726
QQQ            0.97         79,996        77,558


-----------------------------------------------------------------

Bullish Percent Data

           Current   Change   Status
NYSE          73.8    + 0     Bull Confirmed
NASDAQ-100    79.0    + 0     Bear Correction
Dow Indust.   83.3    + 0     Bull Correction
S&P 500       80.8    + 0     Bull Confirmed
S&P 100       79.0    + 0     Bull Correction


Bullish percent measures the number of stocks in an index 
currently trading on a buy signal on their point and figure 
chart.  Readings above 70 are considered overbought, and readings 
below 30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - Pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend

-----------------------------------------------------------------

 5-Day Arms Index  1.09
10-Day Arms Index  1.04
21-Day Arms Index  1.16
55-Day Arms Index  1.06


Extreme readings above 1.5 are bullish, and readings below .85
are bearish.  These signals don't occur often and tend be early,
but when they do, they can signal significant market turning
points.

-----------------------------------------------------------------

Market Internals

            -NYSE-   -NASDAQ-
Advancers     839       927
Decliners    1944      2130

New Highs     100       119
New Lows       10         3

Up Volume    350M      310M
Down Vol.   1173M     1412M

Total Vol.  1561M     1737M
M = millions


-----------------------------------------------------------------

Commitments Of Traders Report: 10/14/03

Weekly COT report discloses positions held by small specs
and commercial traders of index futures contracts at the 
Chicago Mercantile Exchange and Chicago Board of Trade. COT data 
can be found at www.cftc.gov.

Small specs are the general trading public with commercials being 
financial institutions. Commercials are historically on the 
correct side of future trend changes while small specs tend 
to be wrong.  

S&P 500

Unfortunately we're still not seeing much change in sentiment
for the Commercials in the big S&P futures.  They remain slightly
net short.  Small traders aren't making many moves either and
they remain net long.


Commercials   Long      Short      Net     % Of OI
09/23/03      395,123   397,858   ( 2,735)   (0.0%)
09/30/03      395,713   397,577   ( 1,864)   (0.0%)
10/07/03      390,232   402,964   (12,732)   (1.6%)
10/14/03      391,972   410,299   (18,327)   (2.3%)

Most bearish reading of the year: (111,956) -  3/06/02
Most bullish reading of the year:   18,486  -  6/17/03
 
Small Traders Long      Short      Net     % of OI
09/23/03      139,482    87,981    51,501     22.6%
09/30/03      144,681    96,801    47,880    19.8%
10/07/03      138,644    88,018    50,626    22.3%
10/14/03      133,940    86,418    47,522    21.6%

Most bearish reading of the year:  (1,657)- 5/27/03
Most bullish reading of the year: 114,510 - 3/26/02


E-MINI S&P 500

It's the same story here.  Commercials increased their positions
in both longs and shorts but remains slightly net short.  Small
traders trimmed some short positions and opened 30K more long
contracts just in time for the late week weakness.  

Commercials   Long      Short      Net     % Of OI 
09/23/03      109,417   204,026   ( 94,609)  (30.2%)
09/30/03      163,828   218,991   ( 55,163)  (14.4%)
10/07/03      212,273   225,377   ( 13,104)  ( 3.0%)
10/14/03      221,897   233,066   ( 11,169)  ( 2.5%)

Most bearish reading of the year: (354,835)  - 06/17/03
Most bullish reading of the year:  133,299   - 09/02/03

Small Traders Long      Short      Net     % of OI
09/23/03      175,750    62,558   113,192    47.5%
09/30/03      131,698    65,259    66,439    33.8%
10/07/03      134,990    63,560    71,430    36.0%
10/14/03      161,208    59,213   101,995    46.3%

Most bearish reading of the year: (77,385)  - 09/02/03
Most bullish reading of the year: 449,310   - 06/10/03


NASDAQ-100

Sorry...no big changes for the Commercial traders here either.
They remain net short while the Small Trader remains net long.


Commercials   Long      Short      Net     % of OI 
09/23/03       32,648     42,565   ( 9,917) (13.2%)
09/30/03       33,571     42,993   ( 9,422) (12.3%)
10/07/03       33,253     40,861   ( 7,608) (10.3%)
10/14/03       34,639     41,880   ( 7,241) ( 9.5%)

Most bearish reading of the year: (21,858)  - 08/26/03
Most bullish reading of the year:   9,068   - 06/11/02

Small Traders  Long     Short      Net     % of OI
09/23/03       17,862     9,880     7,982    28.8%
09/30/03       19,803     9,917     9,886    33.3%
10/07/03       18,182     9,688     8,494    30.5%
10/14/03       16,822     9,046     7,776    30.1%

Most bearish reading of the year: (10,769) - 06/11/02
Most bullish reading of the year:  19,088  - 01/21/02

DOW JONES INDUSTRIAL

No one seems willing to make any big bets.  Commercials have
been stuck in the same range for weeks now and remain net long
the DJ futures.  Small traders took some money out of their long
and dumped some of it into shorts but not much.

Commercials   Long      Short      Net     % of OI
09/23/03       15,911     9,123    6,788      27.1%
09/30/03       16,561     8,932    7,629      31.5%
10/07/03       16,277     9,528    6,749      26.2%
10/14/03       16,595     9,433    7,162      27.5%

Most bearish reading of the year: (8,322) -  1/16/01
Most bullish reading of the year: 15,135  - 10/16/01

Small Traders  Long      Short     Net     % of OI
09/23/03        7,505     7,779   (  274)   ( 1.8%)
09/30/03        7,578     8,125   (  547)   ( 3.5%)
10/07/03        7,392     7,910   (  518)   ( 3.4%)
10/14/03        6,427     8,495   (2,068)   (13.9%)

Most bearish reading of the year:  (8,777) - 10/12/01
Most bullish reading of the year:   8,523  -  8/26/03


-----------------------------------------------------------------



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PremierInvestor.net Newsletter          Weekend Edition 10-19-2003
                                                    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 two:

Tech Stocks
  New Bearish Plays:     FDS, TTWO

Active Trader (Non-tech)
  Bullish Play Updates:  DISH, TYC
  Closed Bearish Plays:  DLTR, MMC

High Risk/Reward
  New Bearish Plays:     HLTH
  Bullish Play Updates:  MPS, SNE
  Bearish Play Updates:  BEV, GILD

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

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

  -----------------
  New Bearish Plays
  -----------------

Factset Research - FDS - close: 43.65 change: -2.22 stop: 46.01

Company Description:
FactSet Research Systems Inc. is a leading provider of global 
financial and economic information, including fundamental data on 
tens of thousands of companies worldwide. Combining more than 200 
databases into its own dedicated online service, the Company also 
provides the tools to download, combine and manipulate the data 
for investment analysis. The Company, headquartered in Greenwich, 
Connecticut, was formed in 1978 and now conducts operations from 
seventeen locations worldwide including Boston, New York, 
Chicago, San Mateo, London, Tokyo, Hong Kong, Sydney and 
Frankfurt.  (Source:  Company Press Release.)

Why We Like It:
In early September, FDS reported Q4 earnings that beat estimates.  
Revenues rose from 51.7 million in the year-ago period to $57.6 
million in Q4.  However, that earnings release was followed by 
downgrades from CSFB and Morgan Stanley.  FDS had reached an all-
time high early in September and then declined slightly.  It had 
been headed up to test that all-time high again when earnings 
were released and the downgrades hit.  Falling to support near 
$43.00, FDS bounced, but then began rounding over into a shape 
that looks suspiciously like the right shoulder of a head-and-
shoulder formation.  While price was declining, that decline 
created a P&F sell signal with a downside target of $43.00, which 
accounts for the bounce from that level in late September.  Now 
FDS trades in an O column again, and a trade below $43.00 will 
create a new P&F sell signal.  It will also confirm the H&S 
formation by falling below the neckline.

Two entries suggest themselves.  Since many H&S patterns form a 
second right shoulder, it's possible that FDS will again bounce 
and then roll down through the neckline.  The 21-dma has been 
capping recent rises, so entries on bounces and rollovers from 
that moving average would be appropriate.  It's also possible 
that FDS will fall through the neckline without first bouncing 
into a second right shoulder, offering momentum entries on a move 
below $43.00.

Annotated Chart for FDS:


Picked on Oct 17 at  37.40
Change since picked: -0.00
Earnings Date:    09/16/03 (confirmed)
Average Daily Volume:  393 thousand




---


Take-Two Interactive - TTWO - cls: 39.34 chg: -1.20 stop: 41.71

Company Description:
Headquartered in New York City, Take-Two Interactive Software, 
Inc. is an integrated global developer, marketer, distributor, 
and publisher of interactive entertainment software games and 
accessories for the PC, PlayStation® game console, PlayStation®2 
computer entertainment system, the Xbox® video game system from 
Microsoft, Nintendo GameCube(TM) and Nintendo Game Boy Advance. 
The Company publishes and develops products through its wholly 
owned subsidiary labels: Rockstar Games, Gotham Games, Gathering, 
Joytech and Global Star. The Company maintains sales and 
marketing offices in Cincinnati, New York, Toronto, London, 
Paris, Munich, Vienna, Milan, Sydney, Amsterdam and Auckland.
(source: company press release)

Why We Like It:
Shares of TTWO appear to be moving from one flag to another.  The 
stock rocketed higher in early September on very strong earnings 
news.  Soon there after it began a month-long consolidation in a 
bull flag pattern that eventually broke out to the upside in 
October (as it should have).  Unfortunately for the bulls, while 
the stock is climbing higher and hit a new high on Wednesday, the 
stock now appears to be forming a bear flag.  Traditionally, we'd 
see a bear flag in a longer-term downward trend and for TTWO this 
is not the case.  What we do see is a very extended tech stock 
the looks ripe for additional profit taking and an upcoming 
catalyst to spark the move.  

TTWO's arch-rival ERTS is announcing earnings on Tuesday after 
the close.  Estimates are for 44 cents.  While we are bullish 
very long-term on both stocks, ERTS is VERY extended and could 
easily see a sell the news reaction despite their earnings 
performance.  Should that occur we expect TTWO to follow the 
leader.  Actually, Friday's session is already hinting at future 
weakness for TTWO, which makes this even more attractive.  Of 
course we are shorting a stock with great relative strength that 
just hit new highs last week.  For some traders it may seem a bit 
foolish or gutsy.  We plan to limit our risk with a stop near 
Wednesday's high at 41.71.  Our initial target is $36.00 to $35.00.

Annotated chart:


Picked on October 19th at  $39.34
Change since picked         -0.00
Earnings Date            09/03/03 (confirmed)
Average Daily Volume =       1.09 mln





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

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

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


EchoStar - DISH - close: 39.66 change: -0.26 stop: 38.10

The bids are in, meeting Wednesday's deadline.  After Loral 
rejected DISH's $1.85 billion bid for the entire company, DISH 
bid $1.029 billion for the U.S. satellites, saying its bid topped 
that of Intelstat.  Some believe this might be a ploy to force 
the auction of Loral's assets and allow DISH to bid for all those 
assets. Now that the bidding date has come and gone, the October 
20 auction date and October 22 ruling on the auction still loom.  

After facing competition in its bid for Loral's assets, DISH will 
also soon face competition from Cablevision Systems (CVC) on a 
different front.  Wednesday, CVC introduced a nationwide high-
definition satellite television service called VOOM.  CVC intends 
to remake itself from a regional cable operator into a nationwide 
company, and plans to compete with DISH and GMH, the operator of 
DirecTV.

DISH continues to consolidate, printing small-bodied candles that 
trend along the flattening 21-dma.  The 30-dma, more important to 
DISH's trading pattern, flattens slightly above $39.00.  Since 
RSI did break through its pattern of higher lows, we suspect that 
DISH will retreat to test that 30-dma again.  We're leaving our 
official stop at $38.10, near the bottom of DISH's rising 
regression channel and just above the rising 50-dma, but 
conservative traders could consider keying their stops to the 30-
dma.

Since RSI has broken below its rising trendline, we would not 
suggest new entries at this time until RSI turns back up again.  
Some consideration might be given to waiting for a breakout above 
$41.00 on strong volume before entering.  As ominous as those 
warnings sound, however, many consider it bullish for a stock to 
consolidate sideways while oscillators trend downward.

Annotated Chart for DISH:


Picked on Oct 03 at  39.95
Change since picked: -0.29
Earnings Date:    08/13/03 (confirmed)
Average Daily Volume:  2.2 million



---


TYCO - TYC - close: 22.26 change: -0.09  stop: 20.99*new*

While we were somewhat concerned to see TYC decline on greater-
than-average daily volume Friday, TYC held up well during the 
broad market decline.  Although TYC slipped 0.40 percent, that 
decline proved less than that of the broader markets, especially 
as measured by the performance of the Wilshire 5000.  TYC gave 
back some of Thursday's gains, but retraced less than half 
Thursday's advance.
  
The higher volume on down days does prove concerning, however.  
If that pattern continues, we advise caution when considering new 
entries.  MACD has not made a bearish cross and has maintained a 
pattern of higher lows.  Stochastics still trend in overbought 
territory, indicative of a trending stock.  RSI shows a tendency 
to roll over, however, with such a rollover, if it occurs, 
hinting at possible bearish divergence.  

TYC announced Friday that it intended to use available funds for 
the repurchase of Liquid Yield Option (TM) notes due 2020 to any 
who chose to surrender those notes between now and Monday, 
November 17, 2003.  The Tender Offer Statement has been filed 
with the SEC.  Perhaps market reaction to that announcement was 
responsible for Friday's slight decline, but we suspect the 
general market weakness more likely impacted trading.

New entries can still be sought on pullbacks and bounces from 
above $21.50, but first confirm that volume increases on the 
bounce rather than on the pullback.

Annotated Chart for TYC:


Picked on Sep 21 at  21.90
Change since picked: +0.36
Earnings Date:    11/04/03 (confirmed)
Average Daily Volume:    8 million




============
CLOSED PLAYS
============

  --------------------
  Closed Bearish Plays
  --------------------


Dollar Tree Stores - DLTR - close: 35.27 change: 1.26  stop: 35.76

Friday, DLTR printed a bearish engulfing candle, falling on 
strong volume.  The decline dropped DLTR beneath the 10, 21, 30, 
and 50-dma's.  The plummet produced a bearish kiss on the 
stochastics and turned the RSI down soundly.  The drop happened 
so quickly that daily MACD has not yet had time to react, 
however.

That's just the kind of action we want to see on a bearish pick, 
but it's too late.  With the play still untriggered, DLTR reports 
earnings next week.  The play doesn't have time to trigger and 
then meet our target.  We're dropping it from consideration.
  
Picked on Oct 08 at   34.36
Change since picked:  +0.91
Earnings Date:    10/23/03 (confirmed)
Average Daily Volume:  1.6 million



---


Marsh & McLennan - MMC - cls: 48.66 chg: -0.35 stop: 49.50    

We've been waiting and waiting for a breakdown under the simple 
200-dma but shares of MMC just won't do it.  At least not before 
the company announces earnings on Tuesday.  We don't like to hold 
over an earnings announcement because there are too many unknown 
variables.  However, given the current trend of declining highs 
there doesn't seem to be a lot of positive expectations for a 
strong quarter.  We close the play untriggered.

Picked on October Xth at  $xx.xx
Change since picked        -0.00
Earnings Date           10/21/03 (unconfirmed)
Average Daily Volume =  1.79 mln






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

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

  -----------------
  New Bearish Plays
  -----------------

WebMD Corp - HLTH - close: 7.93 change: -0.26 stop: 9.51

Company Description:
WebMD Corporation provides services that help physicians, 
consumers, providers and health plans navigate the complexity of 
the healthcare system. Our products and services streamline 
administrative and clinical processes, promote efficiency and 
reduce costs by facilitating information exchange, communication 
and electronic transactions between healthcare participants.  
WebMD Health is the leading provider of online information, 
educational services and communities for physicians and 
consumers. WebMD Medical Manager is the leading provider of 
physician practice management software and related services. 
WebMD Envoy is the leader in payer and healthcare provider 
transaction processing and reimbursement cycle management 
services.  (Source:  Company Press Release.)  

Why We Like It:
We're not trying to pick on HLTH.  We actually like the services 
the company provides to consumers.  However, HLTH has one of the 
ugliest charts we've ever seen.  Make that two of the ugliest 
charts we've ever seen.  Although HLTH has met the $9.00 target 
predicted by its original P&F sell signal, Monday it fell below 
its bullish support line on the P&F chart and created a new 
descending triple bottom breakdown sell signal.  

What happened Monday?  That's the day HLTH revealed that it 
expected Q3 and Q4 results below consensus.  Already troubled by 
the revelation in early September that it had been issued a 
search warrant by the DOJ, the stock had been in a steep decline.  
Monday, it gapped down but rose that day and through the middle 
of the week, trying to fill the gap and climb above the midline 
of its descending regression channel.  By Wednesday, the stock 
began declining again.  We think the descent could take it to 
$6.50, the location of an ascending trendline that began forming 
in early 2001.   

MACD turned down again below signal.  RSI turned down again, too.  
Although stochastics are in territory indicating oversold 
conditions, they have not tried roll up, and may begin trending 
at that level.  

Two possible entries suggest themselves.  One entry would be on a 
bounce and rollover from anywhere beneath $8.50.  Another would 
be on a drop through last Monday's low. Volume was high last 
Monday and Tuesday as investors snapped up HLTH at supposed 
bargain prices.  We think they'll dump shares quickly once HLTH 
falls below Monday's opening level.

Annotated Chart for HLTH:


Picked on Oct 17 at $7.93
Change since picked: -0.00
Earnings Date:    11/06/03 (confirmed)
Average Daily Volume:  4.9 million




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

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


MPS Group INC. - MPS - close: 10.16 change: -0.44 stop: 9.49

An MPS unit will present next week at the National Association of 
Computer Consultant Businesses conference in Dallas.  Beeline is 
the human capital solutions business unit of MPS group, and a 
Beeline VP will participate as a panel speaker.  We suspect the 
announcement had little to do with Thursday's gain or Friday's 
loss.
  
Friday's bearish candle retraced all the way to $10.00, testing 
the historical support as well as the rising 10-dma, currently at 
$10.02.  The retracement came on moderate volume, but the candle 
proved ugly. RSI rolled down and stochastics produced a bearish 
kiss, but have not yet rolled down out of territory indicating 
overbought conditions.

MPS spent two months establishing $10.00 as an important 
resistance zone, so we hope that it will provide support. Just 
below that lies support offered by the linked 21 and 30-dma's, 
with the 50-dma just below those averages and just above our 
$9.49 stop.

Because of Friday's candle and the approaching earnings, those 
considering new entries on bounces from the 30-dma or from $10.00 
should first verify that RSI has turned up again.  RSI usually 
reacts ahead of the slower-moving MACD.  Stochastics will perhaps 
continue trending in overbought territory, as often happens with 
strongly trending stocks. If so, they'll offer little help.
  
Annotated Chart for MPS:


Picked on Oct 15 at $10.40
Change since picked: -0.24
Earnings Date:    10/28/03 (confirmed)
Average Daily Volume:  466 thousand



---


Sony CP ADR - SNE - close: 37.49 change: +0.37 - stop: 35.49*new*

A Japanese newspaper reported Friday that Sony and Samsung 
Electronics will form a joint venture for the purpose of making 
television liquid crystal display panels, and Sony gained in 
Japanese trading.  Buoyed by its success in the Nikkei, SNE 
opened at $38.00 in U.S. trading, above the midline of its 
regression channel.  When U.S. markets declined, SNE fell back 
from its opening high, but managed to hold above Thursday's 
close.  

As SNE again approaches its September high, RSI and stochastics 
move up.  Both still have room to run before indicating 
overbought conditions for SNE.  MACD flattens above signal, and 
may hint at a slight upward curve.  We do notice however, that 
the blue 21-dma has made a bearish cross of the 30-dma.  Moving 
averages crosses usually occur late in a movement, and SNE's 
bull-flag pullback probably produced this one.  Just in case, 
however, we're raising our stop to $35.49, below those two moving 
averages.  With earnings less than a week away, new entries might 
be too risky for most, but aggressive traders could consider 
entries on a move above the September high, if accompanied by 
strong volume.

Annotated Chart for SNE:


Picked on Oct 10 at $36.59
Change since picked: +0.81
Earnings Date:    10/23/03 (confirmed)
Average Daily Volume:  1.2 billion




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


Beverly Ent. - BEV - close: 5.48 change: -0.04 stop: 6.12

BEV remains in a holding pattern.  The stock has very slowly 
inched higher on very strong volume but we just don't think it's 
buying pressure.  The company has announced two rounds of new 
debt this week both of which were convertible notes.  The company 
also said they received a subpoena from the feds over their MK 
Medical unit in California.  Evidently MK was over billing the 
state and federal healthcare systems.  BEV has already allocated 
$18 million to handle any "corrections" but they did say it could 
exceed that amount.  We're a little disappointed that shares 
haven't fallen further this week but remain patient.  The bounce 
from the 38.2% retracement level is somewhat concerning so it may 
be safer to wait for some momentum lower.  Alternatively, failed 
rallies under $5.75 or $6.00 could still work for new entries.  

Annotated Chart of BEV:


Picked on October 12th at $ 5.38
Change since picked        +0.10
Earnings Date           11/11/03 (confirmed)
Average Daily Volume =       996 thousand



---

Gilead Sciences - GILD - cls: 57.41 chg: -2.10 stop: 60.51*new*

Despite all the excitement over its Viread HIV treatment shares 
of GILD appear to be on the list for profit-taking.  The month of 
October has shown a nice tight channel higher but shares failed 
under the $62 level.  The close under $60 was our cue and we've 
seen some confirmation behind the breakdown.  Suddenly the first 
2.5 weeks of October look like a bear flag consolidation.  If 
that's the case then GILD might be able to pierce its P&F support 
near $55 (our first target) and hit its simple 200-dma near 
$50.00.  We'll have to be patient and see.  We are lowering our 
stop to 60.51.

Annotated Chart for GILD:


Picked on Oct 15 at  59.58
Change since picked: -2.17
Earnings Date:    10/28/03 (confirmed)
Average Daily Volume:  4.3 million





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PremierInvestor.net Newsletter          Weekend Edition 10-19-2003
                                                    section 3 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 three:

Market Watch for Week of October 20th, 2003
   - Major Earnings
   - Stock Splits
   - Economic Reports

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 Watch for the week of October 20th
==========================================


Symbol  Company               Date           Comment      EPS Est

------------------------- MONDAY -------------------------------

MMM    3M Company            Mon, Oct 20  Before Market Open   0.79
ALTR   Altera Corporation    Mon, Oct 20  After Market Close   0.11
AME    AMETEK Inc.           Mon, Oct 20  After Market Close   0.64
ACI    ARCH COAL INC         Mon, Oct 20  Before Market Open   0.02
CD     Cendant Corporation   Mon, Oct 20  After Market Close   0.45
CHKP   Check Point Sftwr TechMon, Oct 20  Before Market Open   0.23
C      Citigroup Inc.        Mon, Oct 20  Before Market Open   0.85
CNF    CNF Inc.              Mon, Oct 20  After Market Close   0.48
EW     Edwards Lifesciences  Mon, Oct 20  After Market Close   0.35
RE     Everest Re Group, Ltd Mon, Oct 20  After Market Close   2.05
FBP    First BanCorp         Mon, Oct 20  Time Not Supplied    0.53
HAS    Hasbro, Inc.          Mon, Oct 20  Before Market Open   0.42
HRH    Hilb Rogal Hobbs Com  Mon, Oct 20  After Market Close   0.55
IDXX   Idexx Laboratories    Mon, Oct 20  Before Market Open   0.41
ICBC   Independ Comm Bank    Mon, Oct 20  After Market Close   0.64
JCOM   j2 Global Commu       Mon, Oct 20  Time Not Supplied    0.27
KEM    Kemet                 Mon, Oct 20  After Market Close  -0.12
LXK    Lexmark International Mon, Oct 20  Before Market Open   0.69
LRY    Liberty Property TrustMon, Oct 20  After Market Close   0.79
LNCR   Lincare Holdings      Mon, Oct 20  After Market Close   0.55
MEOH   Methanex              Mon, Oct 20  Time Not Supplied    0.28
NE     Noble Corporation     Mon, Oct 20  Time Not Supplied    0.39
NHY    Norsk Hydro           Mon, Oct 20  Before Market Open   1.05
NVS    Novartis Corporation  Mon, Oct 20  Before Market Open   0.52
PCL    Plum Creek Timber     Mon, Oct 20  After Market Close   0.28
SLAB   Silicon Laboratories  Mon, Oct 20  After Market Close   0.24
LUV    Southwest Airlines    Mon, Oct 20  Before Market Open   0.13
SWBT   Southwest Bank Texas  Mon, Oct 20  After Market Close   0.48
TXN    Texas Instruments     Mon, Oct 20  After Market Close   0.09
TNB    Thomas & Betts        Mon, Oct 20  After Market Close    N/A
TMA    Thornburg Mortgage    Mon, Oct 20  After Market Close    N/A
UHS    Universal Health Serv Mon, Oct 20  After Market Close   0.76
WWY    Wm. Wrigley Jr. Co.   Mon, Oct 20  Time Not Supplied    0.50


------------------------- TUESDAY ------------------------------

NDN    99 CENTS Only         Tue, Oct 21  Before Market Open   0.18
ABGX   Abgenix               Tue, Oct 21  Time Not Supplied   -0.39
AFCI   Advanced Fibre Comm   Tue, Oct 21  After Market Close   0.10
ACS    Affiliated Comp Serv  Tue, Oct 21  Before Market Open   0.60
ALB    Albemarle Corporation Tue, Oct 21  Time Not Supplied    0.40
AED    Allied Domecq PLC     Tue, Oct 21  Before Market Open   N/A0
AMZN   Amazon.com, Inc.      Tue, Oct 21  Time Not Supplied    0.10
AMX    America Movil, S.A.   Tue, Oct 21  After Market Close   0.39
AMTD   Ameritrade Holding    Tue, Oct 21  Before Market Open   0.13
AMGN   Amgen                 Tue, Oct 21  After Market Close   0.51
ARB    Arbitron Inc.         Tue, Oct 21  Before Market Open   0.54
ARMHY  ARM Holdings Plc.     Tue, Oct 21  Before Market Open   0.02
AJG    Arthur J. Gallagher   Tue, Oct 21  After Market Close   0.51
ASH    Ashland               Tue, Oct 21  Time Not Supplied    1.30
T      AT&T                  Tue, Oct 21  Before Market Open   0.53
AVB    Avalonbay Communities Tue, Oct 21  After Market Close   0.78
AV     Avaya                 Tue, Oct 21  After Market Close   0.04
AVY    Avery Dennison Corp   Tue, Oct 21  During the Market    0.66
ONE    Bank One              Tue, Oct 21  Before Market Open   0.75
BSG    BISYS GROUP INC       Tue, Oct 21  After Market Close   0.15
BCC    Boise Cascade         Tue, Oct 21  Before Market Open   0.41
BXP    Boston Properties     Tue, Oct 21  After Market Close   0.97
BSX    Boston Scientific CorpTue, Oct 21  After Market Close   0.29
EAT    Brinker International Tue, Oct 21  Before Market Open   0.47
BNI    Burlington No Santa FeTue, Oct 21  Before Market Open   0.55
CHRW   C.H. Robinson Wrldwde Tue, Oct 21  After Market Close   0.34
CARS   Capital Automotive    Tue, Oct 21  Before Market Open   0.59
CECO   Career Education      Tue, Oct 21  Time Not Supplied    0.21
CNP    CenterPoint Energy    Tue, Oct 21  Before Market Open   0.31
CTX    Centex Corporation    Tue, Oct 21  After Market Close   2.33
CKFR   CheckFree             Tue, Oct 21  After Market Close   0.20
CPS    ChoicePoint, Inc.     Tue, Oct 21  Before Market Open   0.35
COH    Coach, Inc.           Tue, Oct 21  Before Market Open   0.18
CTSH   Cognizant Tech Solut  Tue, Oct 21  Time Not Supplied    0.22
CPWR   Compuware Corporation Tue, Oct 21  Time Not Supplied   -0.01
CPO    Corn Products Intl    Tue, Oct 21  Before Market Open   0.54
CYMI   Cymer, Inc.           Tue, Oct 21  After Market Close  -0.07
DCX    DaimlerChrysler       Tue, Oct 21  Before Market Open   0.63
DFG    Delphi Financial Grp  Tue, Oct 21  After Market Close   1.06
XRAY   DENTSPLY InternationalTue, Oct 21  After Market Close   0.49
DV     DeVry                 Tue, Oct 21  Time Not Supplied    0.17
DCTM   Documentum            Tue, Oct 21  After Market Close   0.08
D      Dominion Resources IncTue, Oct 21  Before Market Open   1.29
ELNK   EarthLink             Tue, Oct 21  Before Market Open   0.06
ECL    Ecolab Inc.           Tue, Oct 21  Before Market Open   0.31
ELUX   Electrolux AB         Tue, Oct 21  Time Not Supplied    0.89
ESV    ENSCO International   Tue, Oct 21  Before Market Open   0.19
FHR    Fairmont Htl & ResortsTue, Oct 21  Time Not Supplied    0.20
FII    Federated Investors   Tue, Oct 21  After Market Close   0.46
FISV   Fiserv                Tue, Oct 21  After Market Close   0.41
FLS    Flowserve Corporation Tue, Oct 21  Before Market Open   0.25
FULT   Fulton Financial      Tue, Oct 21  Time Not Supplied    0.33
GG     Goldcorp              Tue, Oct 21  After Market Close   0.10
GDW    Golden West Financial Tue, Oct 21  Time Not Supplied    1.77
HRS    Harris                Tue, Oct 21  After Market Close   0.36
HCA    HCA                   Tue, Oct 21  Before Market Open   0.61
HMA    Health Management Ass Tue, Oct 21  Before Market Open   0.28
HUBb   Hubbell Incorporated  Tue, Oct 21  During the Market    0.49
HYSL   Hyperion              Tue, Oct 21  After Market Close   0.21
N      Inco                  Tue, Oct 21  Time Not Supplied   -0.06
IPCR   IPC Holdings          Tue, Oct 21  After Market Close   1.04
LF     LeapFrog Enterprises  Tue, Oct 21  After Market Close   0.60
LOGI   Logitech InternationalTue, Oct 21  Time Not Supplied    0.23
LZ     Lubrizol              Tue, Oct 21  Before Market Open   0.60
MHM    Masonite InternationalTue, Oct 21  Time Not Supplied    0.56
MXO    Maxtor Corp           Tue, Oct 21  After Market Close   0.16
MDCO   MEDICINES CO          Tue, Oct 21  After Market Close  -0.11
MEL    Mellon Financial Corp Tue, Oct 21  After Market Close   0.42
MRBK   Mercantile Bankshares Tue, Oct 21  Before Market Open   0.66
MGG    MGM MIRAGE            Tue, Oct 21  Before Market Open   0.37
MKSI   MKS Instruments       Tue, Oct 21  After Market Close  -0.02
JNC    Nuveen Investments    Tue, Oct 21  Before Market Open   0.39
OXY    Occidental Petroleum  Tue, Oct 21  Before Market Open   1.01
OI     Owens Illinois        Tue, Oct 21  After Market Close   0.40
PTZ    Pulitzer Inc.         Tue, Oct 21  Before Market Open   0.46
DGX    Quest Diagnostics     Tue, Oct 21  Before Market Open   1.08
RSH    RadioShack CorporationTue, Oct 21  Before Market Open   0.32
RJF    Raymond James         Tue, Oct 21  During the Market    0.44
RYN    Rayonier Inc.         Tue, Oct 21  After Market Close   0.12
RGC    Regal Entertainment   Tue, Oct 21  Before Market Open   0.32
RNR    RenaissanceRe HoldingsTue, Oct 21  After Market Close   1.44
RFMD   RF Micro Devices, Inc.Tue, Oct 21  Time Not Supplied    0.00
RYL    Ryland Group          Tue, Oct 21  After Market Close   2.14
SBC    SBC Communications    Tue, Oct 21  Before Market Open   0.39
SLB    Schlumberger          Tue, Oct 21  After Market Close   0.40
STX    Seagate Technology    Tue, Oct 21  After Market Close   0.36
SIAL   Sigma-Aldrich Corp    Tue, Oct 21  After Market Close   0.65
SSD    Simpson Manufacturing Tue, Oct 21  After Market Close   0.70
SLG    SL Green Realty       Tue, Oct 21  After Market Close   0.87
SO     Southern Company      Tue, Oct 21  Before Market Open   0.78
STK    Storage Technology    Tue, Oct 21  After Market Close   0.28
SUSQ   Susquehanna BancsharesTue, Oct 21  Time Not Supplied    0.41
TLTOB  Tele2 AB              Tue, Oct 21  Before Market Open    N/A
TGN    Texas Genco Holdings  Tue, Oct 21  Before Market Open    N/A
CAKE   The Cheesecake FactoryTue, Oct 21  After Market Close   0.28
TSFG   The South Financial   Tue, Oct 21  Before Market Open   0.44
JOE    The St. Joe Company   Tue, Oct 21  Before Market Open   0.16
TMO    Thermo Electron Corp  Tue, Oct 21  After Market Close   0.27
TMIC   Trend Micro           Tue, Oct 21  Time Not Supplied     N/A
TRMK   Trustmark Corporation Tue, Oct 21  Time Not Supplied    0.50
USB    U.S. Bancorp          Tue, Oct 21  Time Not Supplied    0.51
UBSI   United Bankshares     Tue, Oct 21  Time Not Supplied    0.55
UPS    UNITED PARCEL SERVICE Tue, Oct 21  Before Market Open   0.60
VVC    Vectren Corporation   Tue, Oct 21  After Market Close   0.20
WFSL   Washington Federal    Tue, Oct 21  Before Market Open   0.52
WM     Washington Mutual     Tue, Oct 21  After Market Close   1.12
WFC    Wells Fargo & Company Tue, Oct 21  Time Not Supplied    0.93
WSTC   West Corporation      Tue, Oct 21  After Market Close   0.35
WES    Westcorp              Tue, Oct 21  After Market Close   0.67
XTO    XTO Energy Inc.       Tue, Oct 21  Before Market Open   0.44
YCC    Yankee Candle         Tue, Oct 21  After Market Close   0.24


-----------------------  WEDNESDAY -----------------------------

EK     Eastman Kodak Company Wed, Oct 22  Before Market Open   0.57
ERTS   Electronic Arts       Wed, Oct 22  After Market Close   0.44
EDS    Electronic Data Sys   Wed, Oct 22  After Market Close   0.32
EFII   Electronics for Imag  Wed, Oct 22  After Market Close   0.22
LLY    Eli Lilly             Wed, Oct 22  Time Not Supplied    0.66
EEP    Enbridge Energy Part  Wed, Oct 22  After Market Close   0.46
ELE    Endesa, S.A.          Wed, Oct 22  Before Market Open    N/A
FMBI   First Midwest Bancorp Wed, Oct 22  Before Market Open   0.49
FTN    First Tennessee Natl  Wed, Oct 22  Before Market Open   0.91
FBC    Flagstar Bancorp      Wed, Oct 22  After Market Close   1.33
FLEX   Flextronics           Wed, Oct 22  After Market Close   0.07
FLA    Florida East Coast IndWed, Oct 22  Before Market Open    N/A
FDG    Fording Inc.          Wed, Oct 22  Time Not Supplied     N/A
FDRY   Foundry Networks      Wed, Oct 22  Time Not Supplied    0.12
FBN    Furniture Brands      Wed, Oct 22  After Market Close   0.35
GYI    GETTY IMAGES INC      Wed, Oct 22  After Market Close   0.25
GSK    GlaxoSmithKline       Wed, Oct 22  Before Market Open   0.59
GSF    GlobalSantaFe Corp.   Wed, Oct 22  Before Market Open   0.06
GLK    Great Lakes Chemical  Wed, Oct 22  After Market Close   0.15
GXP    Great Plains Energy   Wed, Oct 22  After Market Close   0.97
GBBK   Greater Bay Bancorp   Wed, Oct 22  Before Market Open   0.38
TV     Grupo Televisa, S.A.  Wed, Oct 22  Time Not Supplied    0.37
HAR    Harman Intl Ind       Wed, Oct 22  Time Not Supplied    0.37
HET    Harrah's EntertainmentWed, Oct 22  Time Not Supplied    0.89
HHS    Harte-Hanks           Wed, Oct 22  Before Market Open   0.26
HLT    Hilton Hotels Corp    Wed, Oct 22  Before Market Open   0.09
HNI    HON INDUSTRIES, Inc.  Wed, Oct 22  Time Not Supplied    0.47
RX     IMS Health            Wed, Oct 22  After Market Close   0.28
IR     Ingersoll-Rand Co. LtdWed, Oct 22  Before Market Open   0.75
ICST   Integrated Cir Sys    Wed, Oct 22  Before Market Open   0.24
ISIL   Intersil Corporation  Wed, Oct 22  After Market Close   0.15
JPM    J.P. Morgan Chase & CoWed, Oct 22  Before Market Open   0.75
JCI    Johnson Controls      Wed, Oct 22  Before Market Open   2.27
KMB    Kimberly Clark        Wed, Oct 22  Before Market Open   0.84
KLAC   KLA-Tencor            Wed, Oct 22  After Market Close   0.17
NITE   Knight Trading Group  Wed, Oct 22  Before Market Open   0.19
LLL    L-3 Communications    Wed, Oct 22  Time Not Supplied    0.73
LM     Legg Mason            Wed, Oct 22  Before Market Open   0.88
LIN    Linens 'n Things Inc. Wed, Oct 22  Before Market Open   0.46
LPX    LP Corp               Wed, Oct 22  Before Market Open   0.90
LSI    LSI Logic             Wed, Oct 22  After Market Close   0.02
LU     Lucent Technologies   Wed, Oct 22  Before Market Open  -0.04
MACR   Macromedia            Wed, Oct 22  After Market Close   0.13
MCD    McDonalds Corporation Wed, Oct 22  Time Not Supplied    0.40
MWV    MeadWestvaco          Wed, Oct 22  Before Market Open   0.09
MHS    Medco Health SolutionsWed, Oct 22  After Market Close   0.42
MENT   Mentor Graphics       Wed, Oct 22  After Market Close   0.05
MRK    Merck & Co., Inc.     Wed, Oct 22  Before Market Open   0.85
MERQ   Mercury Interactive   Wed, Oct 22  After Market Close   0.23
MDG    Meridian Gold Inc.    Wed, Oct 22  After Market Close   0.09
MCRL   Micrel Semiconductor  Wed, Oct 22  After Market Close   0.01
MTGNY  Modern Times Group    Wed, Oct 22  Time Not Supplied     N/A
NHP    Nationwide Health PropWed, Oct 22  Before Market Open   0.41
NCEN   New Century Financial Wed, Oct 22  After Market Close   1.72
NYB    New York Comm Bancorp Wed, Oct 22  Before Market Open   0.53
NXTP   Nextel Partners       Wed, Oct 22  Before Market Open  -0.10
NCX    NOVA Chemicals        Wed, Oct 22  Before Market Open  -0.45
PFCB   P.F. Chang's          Wed, Oct 22  Before Market Open   0.25
PTV    Pactiv                Wed, Oct 22  After Market Close   0.38
PMTC   PARAMETRIC TECHNOLOGY Wed, Oct 22  Before Market Open  -0.11
PAS    PepsiAmericas         Wed, Oct 22  Before Market Open   0.40
PKI    PerkinElmer           Wed, Oct 22  After Market Close   0.14
PFE    Pfizer                Wed, Oct 22  Before Market Open   0.44
PMI    PMI Group             Wed, Oct 22  Before Market Open   0.78
POT    Potash Corp of Saskat Wed, Oct 22  Before Market Open   0.30
POWI   Power Integrations    Wed, Oct 22  After Market Close   0.15
PGN    Progress Energy       Wed, Oct 22  Before Market Open   1.41
PLD    ProLogis Trust        Wed, Oct 22  After Market Close   0.58
PEG    PSEG                  Wed, Oct 22  Before Market Open   0.79
PHM    Pulte Homes Inc.      Wed, Oct 22  After Market Close   2.36
QSFT   Quest Software Inc.   Wed, Oct 22  After Market Close   0.04
QUIK   QuickLogic CorporationWed, Oct 22  After Market Close  -0.07
QVDX   Quovadx               Wed, Oct 22  Time Not Supplied   -0.04
R      Ryder System, Inc.    Wed, Oct 22  Before Market Open   0.60
SGP    Schering-Plough       Wed, Oct 22  Before Market Open   0.10
POOL   SCP Pool Corporation  Wed, Oct 22  Before Market Open   0.46
SEE    Sealed Air            Wed, Oct 22  Time Not Supplied    0.65
SJR    Shaw Communications   Wed, Oct 22  Before Market Open    N/A
SSTI   Silicon Storage Tech  Wed, Oct 22  After Market Close  -0.01
SNA    Snap-on Incorporated  Wed, Oct 22  Before Market Open   0.31
STM    STMicroelectronics    Wed, Oct 22  After Market Close   0.10
SDS    SunGard Data Systems  Wed, Oct 22  After Market Close   0.32
SWBD   Switchboard Incorp    Wed, Oct 22  Before Market Open    N/A
SYMC   Symantec              Wed, Oct 22  Time Not Supplied    0.45
TKLC   Tekelec               Wed, Oct 22  After Market Close   0.08
TDS    Telephone Data        Wed, Oct 22  Before Market Open   0.60
TEX    Terex Corporation     Wed, Oct 22  After Market Close   0.32
BK     The Bank of New York  Wed, Oct 22  Before Market Open   0.42
FAF    The First American    Wed, Oct 22  Before Market Open   1.42
MNI    The McClatchy Company Wed, Oct 22  Before Market Open   0.71
PGR    The Progressive       Wed, Oct 22  After Market Close   1.38
SWK    The Stanley Works     Wed, Oct 22  Before Market Open   0.62
USM    U.S. Cellular         Wed, Oct 22  Before Market Open   0.43
WOOF   VCA Antech, Inc.      Wed, Oct 22  After Market Close   0.31
VRTS   VERITAS Software Corp Wed, Oct 22  After Market Close   0.18
EYE    VISX Inc.             Wed, Oct 22  Time Not Supplied    0.11
WAT    Waters Corporation    Wed, Oct 22  Before Market Open   0.33
WHR    Whirlpool Corporation Wed, Oct 22  Before Market Open   1.47
WSH    Willis Group Holdings Wed, Oct 22  After Market Close   0.36
WYE    WYETH                 Wed, Oct 22  Before Market Open   0.59
YRK    York International    Wed, Oct 22  Before Market Open   0.67
ZMH    Zimmer Inc.           Wed, Oct 22  After Market Close   0.41


------------------------- THURSDAY -----------------------------

SE     7-Eleven              Thu, Oct 23  Before Market Open   0.31
RKY    Adolph Coors, Co.     Thu, Oct 23  Before Market Open   1.51
ACV    Alberto-Culver Co.    Thu, Oct 23  Time Not Supplied    0.73
ALEX   Alexander & Baldwin   Thu, Oct 23  Time Not Supplied    0.53
AT     ALLTEL Corp.          Thu, Oct 23  After Market Close   0.80
AEP    American Electric Pow Thu, Oct 23  Before Market Open   0.86
AIG    American InternationalThu, Oct 23  Before Market Open   0.98
APPX   American Pharm Part   Thu, Oct 23  Time Not Supplied    0.23
ACF    AmeriCredit Corp.     Thu, Oct 23  After Market Close   0.18
AVZ    AMVESCAP PLC          Thu, Oct 23  Before Market Open   0.22
APA    Apache Corporation    Thu, Oct 23  Before Market Open   1.77
AMCC   Applied Micro CircuitsThu, Oct 23  After Market Close  -0.03
ARW    Arrow Electronics, IncThu, Oct 23  Time Not Supplied    0.15
ASCL   Ascential Software    Thu, Oct 23  After Market Close   0.03
AZN    AstraZeneca PLC       Thu, Oct 23  Before Market Open   0.35
BHI    Baker Hughes Incorp   Thu, Oct 23  Before Market Open   0.24
BMS    Bemis Company, Inc.   Thu, Oct 23  Before Market Open   0.74
BHE    Benchmark Electronics Thu, Oct 23  Time Not Supplied    0.47
BMY    Bristol-Myers Squibb  Thu, Oct 23  Before Market Open   0.41
BOBJ   Business Objects      Thu, Oct 23  After Market Close   0.16
CCMP   Cabot MicroelectronicsThu, Oct 23  Before Market Open   0.44
ELY    Callaway Golf         Thu, Oct 23  After Market Close   0.02
CAH    Cardinal Health, Inc. Thu, Oct 23  During the Market    0.77
CLS    Celestica             Thu, Oct 23  Before Market Open  -0.02
CELG   Celgene Corp.         Thu, Oct 23  Before Market Open   0.04
CEY    Certegy               Thu, Oct 23  Before Market Open   0.40
CSB    Ciba Specialty Chem   Thu, Oct 23  Time Not Supplied    0.47
CIN    Cinergy Corp.         Thu, Oct 23  Time Not Supplied    0.70
CIT    CIT Group             Thu, Oct 23  Before Market Open   0.67
CNH    CNH Global N.V.       Thu, Oct 23  Before Market Open  -0.13
KOF    COCA-COLA FEMSA S A   Thu, Oct 23  Before Market Open   0.49
CL     Colgate-Palmolive     Thu, Oct 23  Before Market Open   0.63
COLT   COLT Telecom Group    Thu, Oct 23  Before Market Open    N/A
COLM   Columbia Sportswear   Thu, Oct 23  After Market Close   1.51
CYH    Community Health Sys  Thu, Oct 23  After Market Close   0.30
CTC    Compania de Telecom   Thu, Oct 23  After Market Close   0.04
CE     Concord EFS           Thu, Oct 23  Before Market Open   0.18
CBE    Cooper Industries Ltd.Thu, Oct 23  Before Market Open   0.74
CFC    Countrywide Financial Thu, Oct 23  Before Market Open   5.02
CR     Crane                 Thu, Oct 23  After Market Close   0.45
DASTY  Dassault Systemes SA  Thu, Oct 23  Time Not Supplied    0.28
DP     Diagnostic Products   Thu, Oct 23  Before Market Open   0.46
DQE    DQE                   Thu, Oct 23  After Market Close   0.35
EMN    Eastman Chemical      Thu, Oct 23  After Market Close   0.28
ELX    Emulex                Thu, Oct 23  Time Not Supplied    0.23
ENDP   Endo Pharmaceuticals  Thu, Oct 23  Before Market Open   0.26
EC     Engelhard Corporation Thu, Oct 23  Before Market Open   0.47
ETR    Entergy               Thu, Oct 23  Before Market Open   1.53
ELAB   Eon Labs              Thu, Oct 23  Before Market Open   0.31
FMX    FEMSA                 Thu, Oct 23  Before Market Open   1.48
FR     First Indl Realty TrstThu, Oct 23  Time Not Supplied    0.87
FE     FirstEnergy           Thu, Oct 23  Time Not Supplied    0.89
FPL    FPL Group             Thu, Oct 23  Before Market Open   1.81
BEN    Franklin Resources    Thu, Oct 23  Time Not Supplied    0.56
FDP    Fresh Del Monte PrduceThu, Oct 23  Before Market Open   0.57
GTW    Gateway, Inc.         Thu, Oct 23  After Market Close  -0.19
GMT    GATX Corporation      Thu, Oct 23  Before Market Open   0.28
GR     Goodrich Corporation  Thu, Oct 23  Before Market Open   0.20
GT     Goodyear Tire & RubberThu, Oct 23  Before Market Open  -0.14
HSC    Harsco Corporation    Thu, Oct 23  Before Market Open   0.63
HCN    Health Care REIT, Inc.Thu, Oct 23  Time Not Supplied    0.70
IMN    Imation Corp.         Thu, Oct 23  Before Market Open   0.49
IDC    Interactive Data Corp Thu, Oct 23  Before Market Open   0.19
IFF    Intl Flav Fragrances  Thu, Oct 23  Before Market Open   0.61
IVGN   Invitrogen CorporationThu, Oct 23  Before Market Open   0.52
SFI    iStar Financial       Thu, Oct 23  Before Market Open    N/A
ITT    ITT Industries        Thu, Oct 23  Before Market Open   0.96
JDSU   JDS Uniphase Corp     Thu, Oct 23  After Market Close  -0.02
JBLU   JetBlue Airways       Thu, Oct 23  Before Market Open   0.37
KZL    Kerzner International Thu, Oct 23  Time Not Supplied    0.18
KIM    KIMCO REALTY CORP     Thu, Oct 23  After Market Close   0.81
LH     Laboratory Corp of Am Thu, Oct 23  Before Market Open   0.59
LVLT   Level 3 CommunicationsThu, Oct 23  Time Not Supplied   -0.43
LYO    Lyondell PetrochemicalThu, Oct 23  Before Market Open  -0.33
MRO    Marathon Oil Corp     Thu, Oct 23  Time Not Supplied    0.84
MEE    Massey Energy Company Thu, Oct 23  After Market Close  -0.19
MCK    McKesson Corporation  Thu, Oct 23  After Market Close   0.52
MEDI   MedImmune             Thu, Oct 23  Before Market Open  -0.08
MSFT   Microsoft             Thu, Oct 23  Time Not Supplied    0.29
MTX    MINERALS TECHNOLOGIES Thu, Oct 23  After Market Close   0.63
NBG    National Bank Greece  Thu, Oct 23  Before Market Open    N/A
NFG    National Fuel Gas Co  Thu, Oct 23  After Market Close   0.00
NATI   National Instruments  Thu, Oct 23  After Market Close   0.15
NCR    NCR Corporation       Thu, Oct 23  Before Market Open   0.12
NET    Network Associates    Thu, Oct 23  Time Not Supplied    0.11
NRD    NORANDA INC           Thu, Oct 23  Time Not Supplied     N/A
NT     Nortel Networks       Thu, Oct 23  Time Not Supplied    0.00
NST    NSTAR                 Thu, Oct 23  Time Not Supplied    1.27
NUE    Nucor                 Thu, Oct 23  Before Market Open   0.15
ONB    Old National Bancorp  Thu, Oct 23  Before Market Open   0.40
PCBC   Pacific Cap Bancorp   Thu, Oct 23  Before Market Open   0.39
PPE    Park Place Entertain  Thu, Oct 23  Before Market Open   0.16
PRX    Pharmaceutical Res    Thu, Oct 23  Before Market Open   1.06
PHLY   Phil Consolidated     Thu, Oct 23  Time Not Supplied    0.87
PBI    Pitney Bowes Inc.     Thu, Oct 23  After Market Close   0.62
PSD    Puget Energy          Thu, Oct 23  After Market Close   0.08
QLTI   QLT Inc.              Thu, Oct 23  Before Market Open   0.13
IQW    Quebecor World        Thu, Oct 23  Time Not Supplied    0.49
RTN    Raytheon              Thu, Oct 23  Before Market Open   0.43
RBK    Reebok                Thu, Oct 23  Time Not Supplied    0.93
RGA    Reinsurance Grp Am    Thu, Oct 23  After Market Close   0.78
RESP   Respironics, Inc.     Thu, Oct 23  Before Market Open   0.38
RD     Royal Dutch Petroleum Thu, Oct 23  Time Not Supplied    0.93
TSG    Sabre Holdings Corp.  Thu, Oct 23  Before Market Open   0.23
SANM   Sanmina-SCI Corp.     Thu, Oct 23  Time Not Supplied    0.02
SLE    Sara Lee              Thu, Oct 23  Before Market Open   0.26
SAY    Satyam Comp Serv LmtedThu, Oct 23  Time Not Supplied    0.15
SFA    Scientific-Atlanta IncThu, Oct 23  After Market Close   0.26
SRA    Serono S.A.           Thu, Oct 23  Before Market Open   0.16
SCRI   SICOR                 Thu, Oct 23  Time Not Supplied    0.24
SNE    Sony Corporation      Thu, Oct 23  Before Market Open    N/A
PCS    Sprint Corp           Thu, Oct 23  Before Market Open  -0.07
FON    Sprint FON Group      Thu, Oct 23  Before Market Open   0.34
SFG    StanCorp Financial GrpThu, Oct 23  Time Not Supplied    1.21
STE    Steris                Thu, Oct 23  Before Market Open   0.29
SEO    Stora Enso            Thu, Oct 23  Before Market Open   0.09
SUN    Sunoco                Thu, Oct 23  Before Market Open   1.36
SWMAY  Swedish Match         Thu, Oct 23  Time Not Supplied     N/A
SLVN   Sylvan Learning Sys   Thu, Oct 23  Before Market Open   0.14
TECH   Techne                Thu, Oct 23  Before Market Open   0.29
TE     TECO Energy Inc.      Thu, Oct 23  Time Not Supplied    0.39
DOW    The Dow Chemical Co   Thu, Oct 23  Before Market Open   0.25
MHP    The McGraw-Hill Co    Thu, Oct 23  Before Market Open   1.50
TKR    The Timken Company    Thu, Oct 23  Before Market Open   0.02
TDW    Tidewater             Thu, Oct 23  Before Market Open   0.24
TTN    Titan Corp.           Thu, Oct 23  Before Market Open   0.19
TMK    Torchmark             Thu, Oct 23  Before Market Open   0.97
TAC    TRANSALTA CORP        Thu, Oct 23  Time Not Supplied     N/A
TRH    Transatlantic HoldingsThu, Oct 23  Time Not Supplied    1.40
TRYF   Troy Financial        Thu, Oct 23  Before Market Open   0.40
TUES   Tuesday Morning Corp  Thu, Oct 23  Before Market Open   0.15
UNP    Union Pacific         Thu, Oct 23  Before Market Open   1.15
UDI    United Defense Ind    Thu, Oct 23  Before Market Open   0.48
URI    United Rentals        Thu, Oct 23  Before Market Open   0.40
USTR   United Stationers Inc.Thu, Oct 23  After Market Close   0.70
UPM    UPM-Kymmene Group     Thu, Oct 23  Time Not Supplied    0.14
UTSI   UTStarcom             Thu, Oct 23  After Market Close   0.45
VRSN   VeriSign, Inc.        Thu, Oct 23  After Market Close   0.14
VFC    VF                    Thu, Oct 23  Time Not Supplied    0.98
VVI    Viad Corp             Thu, Oct 23  Before Market Open   0.26
VTSS   Vitesse Semiconductor Thu, Oct 23  After Market Close  -0.03
VOLVY  Volvo AB              Thu, Oct 23  Time Not Supplied     N/A
WC     WellChoice, Inc.      Thu, Oct 23  After Market Close   0.58
WEN    Wendy's International Thu, Oct 23  Time Not Supplied    0.54
WDC    Western Digital Corp. Thu, Oct 23  After Market Close   0.19
WWCA   Western Wireless      Thu, Oct 23  After Market Close   0.00
WEC    Wisconsin Energy Corp Thu, Oct 23  Before Market Open   0.43
XEL    Xcel Energy           Thu, Oct 23  Before Market Open   0.40
XRX    Xerox Corporation     Thu, Oct 23  Before Market Open   0.10
ZBRA   Zebra Technologies    Thu, Oct 23  Before Market Open   0.48


------------------------- FRIDAY -------------------------------

ALE    Allete                Fri, Oct 24  Before Market Open   0.52
AEE    Ameren Corporation    Fri, Oct 24  Before Market Open   1.44
ANZ    Australia New Zeal BnkFri, Oct 24  Time Not Supplied     N/A
AVX    AVX Corporation       Fri, Oct 24  Before Market Open  -0.06
BC     Brunswick Corporation Fri, Oct 24  Before Market Open   0.37
CLP    Colonial Prop Trust   Fri, Oct 24  Time Not Supplied    0.82
CSX    CSX                   Fri, Oct 24  Before Market Open   0.54
DCN    Dana                  Fri, Oct 24  Before Market Open   0.26
EAS    Energy East Corp      Fri, Oct 24  After Market Close   0.16
HCR    MANOR CARE INC NEW    Fri, Oct 24  Before Market Open   0.36
MDU    MDU Resources         Fri, Oct 24  Time Not Supplied    0.90
NBP    Northern Border Part  Fri, Oct 24  Before Market Open   0.62
PNW    Pinnacle West Capital Fri, Oct 24  Before Market Open   1.20
ROP    Roper Industries      Fri, Oct 24  After Market Close   0.62
SCG    SCANA                 Fri, Oct 24  Before Market Open   0.81
TROW   T. Rowe Price         Fri, Oct 24  Before Market Open   0.48
UNA    UNOVA Inc.            Fri, Oct 24  After Market Close  -0.13
WY     Weyerhaeuser Co.      Fri, Oct 24  Time Not Supplied    0.53
WPS    WPS Resources         Fri, Oct 24  After Market Close   0.80


----------------------------------------------
Upcoming Stock Splits In The Next Two Weeks...
----------------------------------------------

Symbol  Company Name              Ratio    Payable     Executable


ATU     Atuant Corp               2:1      Oct  21st   Oct  22nd
OTEX    Open Text Corp            2:1      Oct  28th   Oct  29th
GBR     Greenbriar Corporation    2:1      Oct  28th   Oct  29th
MDU     MDU Resources Group Inc   3:2      Oct  29th   Oct  30th
USNA    USANA Health Sciences Inc 2:1      Oct  30th   Oct  31st
AMRB    Am River HoldingsCorp     3:2      Oct  31st   Nov   3rd
UNTD    United Online             3:2      Oct  31st   Nov   3rd
EASI    Engineered Support Systems3:2      Oct  31st   Nov   3rd
MNRO    Monro Muffler Brake Inc   3:2      Oct  31st   Nov   3rd


--------------------------
Economic Reports This Week
--------------------------

TEASER


==============================================================
                       -For-           

----------------
Monday, 10/20/03
----------------
Leading Indicators (DM) Sep  Forecast:    0.0%  Previous:     0.4%
Treasury Budget (DM)    Sep  Forecast:  $20.8B  Previous:   $42.5B
Semiconductor Book-to-Bill

-----------------
Tuesday, 10/21/03
-----------------
None


-------------------
Wednesday, 10/22/03
-------------------
API Weekly Statistics


------------------
Thursday, 10/23/03
------------------
Initial Claims  (BB)  10/18  Forecast:     N/A  Previous:     384K
Natural Gas Inventories

----------------
Friday, 10/24/03
----------------
None


Definitions:
DM=  During the Market
BB=  Before the Bell
AB=  After the Bell
NA=  Not Available



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

CSG     Cadburry Schwepps Plc      27.20    +0.95
ATH     Anthem Inc                 73.02    +1.07
FII     Federated Investors B      31.39    +1.37
WTNY    Whitney Holding Corp       36.60    +0.61
VVN     Vitran Holding Corp        13.00    +0.95


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

IDTI    Integrated Device Tech     14.95    +2.29
ASPT    Aspect Communications      12.69    +2.07
SCUR    Secure Computing Cp        14.09    +1.04
EMBT    Embarcadero Technologies   12.20    +1.22
DCGN    Decode Genetics Inc         6.79    +1.72


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

NOC     Northrop Grumman Corp      86.33    +1.58
BCR     C.R. Bard Inc              78.24    +1.41
RCI     Renal Care Group Inc       35.25    +1.90
MEG     Media General              67.85    +3.36
CLSR    Closure Medical Corp       30.10    +1.40
AGM     Federal Agri Mtd CI C      29.36    +2.68


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

AMGN    Amgen Inc                  63.01    -2.15
EBAY    Ebay Inc                   54.86    -2.64
BK      Bank of New York Co Inc    31.09    -1.18
HDI     Harley-Davidson Inc        47.26    -1.05
S       Sears Roebuck & Co         47.08    -1.72
XL      XL Capital Ltd             73.37    -6.03
BRCM    Broadcom Corp CI A         29.84    -2.84
SPC     Saint Paul Companies Inc   36.49    -1.30
MEDI    Medimmune Inc              28.18    -1.83
HCBK    Hudson City Bancorp Inc    33.25    -1.38


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

MO      Altria Group Inc           44.78    -0.17
GILD    Gilead Sciences Inc        57.41    -2.10
GENZ    Genzyme Corp               49.67    -1.69
RUK     Reed Elsevier Plc          33.03    -0.16
ACE     Ace Ltd                    33.96    -0.96
LXK     Lexmark International      67.25    -2.00
MRVL    Marvell Technology Group   40.84    -2.71
MHK     Mohawk Industries Inc      70.47    -4.46




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