PremierInvestor.net Newsletter Thursday 10-30-2003 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: Boom or Blip? Watch List: ATH, NSM, CHIR, APA and more! Market Sentiment: Q3 GDP Roars ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 10-30-2003 High Low Volume Advance/Decline DJIA 9786.61 + 12.10 9838.76 9754.01 2.07 bln 1608/1620 NASDAQ 1932.69 - 3.90 1957.53 1929.77 2.01 bln 1494/1685 S&P 100 517.53 - 1.13 520.99 516.37 Totals 3102/3305 S&P 500 1046.94 - 1.17 1052.82 1017.47 W5000 10195.52 - 11.80 10258.46 10171.38 RUS 2000 530.37 - 1.44 536.41 530.03 DJ TRANS 2925.28 + 23.70 2940.07 2897.97 VIX 16.33 - 0.01 16.76 16.01 VXO VIX-O 17.50 + 0.35 18.06 17.01 VXN 24.74 + 0.02 25.09 24.49 Total Volume 4,361M Total UpVol 2,325M Total DnVol 1,977M 52wk Highs 1042 52wk Lows 26 TRIN 1.00 NAZTRIN 0.70 PUT/CALL 0.81 ================================================================= =========== Market Wrap =========== Boom or Blip? Bet you did not expect the news to be that good. Nobody did and almost everybody did not know how to react. The GDP jump by +7.2% shocked everyone into inaction. The disbelief in the numbers had the talking heads battling the "boom or blip" question all day. The answer? Almost everyone had decided by the close that it was a real number but that could not prevent a pull back that left the Nasdaq in negative territory. Dow Chart Nasdaq Chart S&P Chart - Double Top? Jobless Claims came in at yet another five week low at 386K after last weeks numbers were revised up right on schedule to 391K. Whoever is in charge of producing the numbers needs to just add 5K every week before the number is announced to avoid the weekly embarrassment of having to revise them every week. I love the press releases. "Jobless Claims fell by -5000 this week to another five week low". You would think we were cutting layoffs each week and it was a pattern of falling claims. The revised numbers for the prior four weeks are now oldest to latest, 405K, 388K, 390K, 391K and this weeks 386K which will probably be revised up to 390K or more. Far from a declining pattern as the news would suggest. The news is not bad with four weeks under 400K but just far from improving. The Chicago Fed National Activity Index posted its first positive month since July 2002. The headline number of +0.20 was not a blowout but just another confirmation of improving conditions. The recent low of -1.12 in April has been slowly improving and despite a downward revision of -0.12 to last month the trend is intact. The CFNAI is based on 85 indicators and 57 rose for the period covered in this report. Gains in manufacturing gave the index its largest boost. The Employment Cost Index rose slightly by +1.0% last month and benefit costs were the major expense. This was no surprise and the report was largely ignored with the blowout GDP stealing all the headlines. The Help Wanted Index was flat again at 37 and has shown little movement since a slight bounce in June to 38. Some analysts suggested this could be negative since the 4Q normally sees an uptick in advertising for both permanent and temporary hiring. A flat index would suggest that we transitioned from summer help to fall help without any increase in advertising. This would suggest the current unemployment levels were so high that companies do not need to spend the money to recruit. The current index levels are 66% off the cycle highs. Only 41% of the papers surveyed reported any increase in employment ads. The Labor Turnover Survey dropped -7.8% for August and showed no improvement over the -5.7% drop in July. These numbers are so old they do not get much play but the trend is definitely down. June was the last positive month with a +3.5% gain but that temporary bounce was quickly erased. According to the JOLT Survey the job-opening rate has fallen from year ago levels and is continuing to decline. This does not paint a convincing picture for the Nonfarm Payroll number next week except that this is an August number and conditions could have changed substantially. The big number for the day, actually the decade was the GDP jump to +7.2%. This was well over the estimate of +6% which was already considered too high by many analysts. The sticker shock initially powered a spike from short covering but that spike was short lived. There were so many qualifications that traders did not know which way to jump. This gain was the biggest jump in quarterly GDP in 19 years. To say it was out of the ordinary would be an under statement. Personal consumption, investments in equipment, software spending and exports led the gains. Auto sales added +1.17% but shrinking inventories actually knocked -0.67% off the final number. The $35 billion drop is projecting an even bigger bounce in the 4Q or 1Q as these inventories are replenished. Exports added +.84% to the number and was mostly unexpected. The weaker dollar and stronger global demand helped pump the export number. In Q2 the GDP was powered mostly by defense spending. In Q3 defense spending was almost flat. Federal spending was also flat. Disposable income jumped +7.2% from tax cuts and rebates and helped power the jump in consumption. There are a lot of detractors to the GDP bounce but the internals show a continued increase in home and auto sales despite the high unemployment. Increases in business spending surprised most analysts and many question if the bounce will continue. Regardless of your take on the GDP the market was completely confused. The opening bounce took the Dow back to a high of 9827 but the selling begin almost immediately. The Dow drifted back to 9754, -73 points off its high and nearly -20 points into the red before 10:30. The Nasdaq bounced to 1956, only -10 points from its 52-week high before a quick drop back to support at 1930. The quick drop was due to disbelief by some and profit taking by others. With only one day left in the fiscal year for many mutual funds this was a perfect opportunity to unload stocks. However, they did not sell the bounce and despite the opening dip and the closing dip the action for the day was positive. The Nasdaq was the weakest and closed slightly negative and right on 1930 support. The Dow clung to yesterday's resistance at 9780 and refused to give up ground at the close. For Friday we have another flurry of economic reports and another chance for a news driven market event. The lack of a sell off today could have been related to some month end window dressing that offset any year end rebalancing. This leaves Friday up for grabs. Futures are positive in the overnight session and the post closing analyst musings are suggesting a positive spin to the GDP once the sticker shock dissipates. My analysis of the event is probably a little different from some others. While there are many qualifiers in the GDP number those qualifiers only impact a very select few traders. The general public only sees the headline number and thinks "wow, the economy really is recovering". They begin to feel better about overall conditions and the sentiment numbers over the next month will show another boost. Still my thoughts go more to the underlying market action today. We did NOT sell off. This to me was the biggest event. The current market rally had been predicated on a +6% GDP for the last two months. Everybody with a podium had been using the GDP as a rally point with every speech. If ever there was a number baked into the cake this was it. Everyone who was ready to pull the exit trigger on a +6% or lower number was shocked into inaction by the blowout. Suddenly the concept of market top was called into question. Whoa, if the economy is better than everyone expected then maybe there is more to go. Maybe I should not sell yet. Obviously this is an oversimplification but you get the point. There was selling on the news but there was also buying. The opposing forces were evenly matched and volume was strong. The advancers/decliners were even at 3102/3305 and the markets finished flat. Flat, not +200 on the good news or -100 on the expected news. Confusion reigns and that is a good thing. The VXO (old VIX) hit 17.01 on the bounce today. This is an unbelievable number and only 2 ticks away from breaking the 17 barrier. Any move up on Friday will likely do the trick. That leaves us heading into a weak heavy with economic reports and the market near its highs with the VXO at a five year low. The high odds bettors are backing up the truck to load up on puts. This type of alignment happens very rarely and almost always ends badly. The wild card in that scenario is the GDP. The traders almanac says the first three days of November are normally bullish as funds reinvest the cash they got from selling in October. Since we had almost no selling I would be skeptical of a positive first three days if it were not for the parade of increasingly positive economic reports. Assuming we do not see a sudden reversal of fortune on Friday we will go into the weekend at market highs with good economics and good earnings and even greater expectations for the 4Q. Greenspan could not have scripted it better. Before we get too far ahead of ourselves let's remember that the estimates for growth in the 4Q and the 1Q were only in the +4% range last week. That range could change but with earnings expectations turning down due to a stronger 4Q-2002 comparison there could be some dampening of expectations in the market. The Fed has begun to drain the excess liquidity out of the money supply and interest rates are climbing again. Unemployment is still high and the Fed is still worried about deflation. We are not out of the woods yet but offsetting these negatives is the influx of cash into mutual funds. TrimTabs said we could see record inflows for October of $30 billion. With the +7.2% GDP headline all we need now is a Dow 10,000 headline and even the hard core should become converts. CDs and worthless money market accounts would be tapped to try the stock market again. It makes no difference how badly they were burned in the past they see the lure of easy money and want to be winners too. If you are walking through a casino and pass a table where all the gamblers are cheering and screaming with every roll of the dice it is very hard to keep on walking. When you see them raking profits off the table with every roll the urge to throw some money on the table and get your share is very strong. Of course what I just described is a market top that is doomed to eventually correct but it could be weeks or months before that correction. A quick look at the charts above should prompt caution from any technical analyst. The S&P came to a dead stop at 1050 once again and could easily be forming a double top at that level. Same goes for the Dow and Nasdaq. For any bullish scenario to develop these indexes must break out to news highs over the next couple days of the bulls will become worried and we could see weakness appear again. That brings us back to tomorrow. We could easily move 100 points in either direction or remain flat as October slips into history. I personally think the odds favor some profit taking on Friday. The Dow traded over 9820 three separate times on Thursday and failed to hold the high ground each time. The Nasdaq went out near the low for the day and could be seeing some profit taking by funds. With it being the last day of the month for all and the last day of the year for many, anything is possible. The only resistance above us is the 52-week highs at 9850 and should that break we are only a broad jump away from Dow 10,000. That is still my target for the next real profit taking event. The only real unknown is how far in front of that target will the bulls become nervous and begin exiting the game. Enter Very Passively, Exit Very Aggressively! Jim Brown Editor ================================================================== WATCH LIST ================================================================== The PremierInvestor.net watch list is not designed to be read as full fledged stock picks. Rather we would prefer to offer it as an extra tool in today's investor toolbox. Think of it as a radar screen with your own radar operator pointing out interesting developments, technical patterns or potential plays that you may or may not have seen on your own. Due to time constraints we do glance at the news but rarely do we have time to fully read pertinent news stories, due background research and other necessary screens that investors should do before making a decision. A common exercise is to read the entry, glance at the sector and other stocks in that industry and then compare what's happening in the stock to what's happening in the broader market indices. We hope you enjoy the Watch List and that it proves to be a useful tool for your own trading success. STOCKS WORTH WATCHING --------------------------------- Anthem Inc. - ATH - close: 67.20 change: -2.04 WHAT TO WATCH: Despite earnings slightly ahead of expectations and forward guidance slightly above expectations, shares of ATH are selling off sharply and on strong volume. Thursday's close below $68 is a 6-month low and if support near the current price gives way, then we could be looking at a plunge down to the $60- 62 area. --- National Semiconductor - NSM - close: 41.42 change: +0.43 WHAT TO WATCH: This is NOT the time to consider a new bullish play in NSM, but it is time to put together the action plan for the next pullback in this leading Semiconductor stock. Look for an entry in the $38.50-39.00 and then ride it higher towards $45 resistance, helped along by the still strong SOX. --- Chiron Corp. - CHIR - close: 54.31 change: -2.34 WHAT TO WATCH: Shares of CHIR appear to have met stiff rejection again right at the $57 resistance level and investors certainly didn't like what they heard from the earnings report yesterday. Despite beating estimates and guiding higher, the stock was sold as those results apparently didn't measure up to expectations. Use a break of the 50-dma as an entry trigger and look for an initial drop to $50. --- Apache Corp. - APA - close: 69.18 change: -0.77 WHAT TO WATCH: We've had our eye on shares of APA for some time, as the stock has just continued to move higher over the past two years in a broad ascending channel. The stock appears to be rebounding right now from the 50-dma and the midline of the channel, which could make for a solid entry ahead of a continued rally towards the top of the channel, currently at $75. =================== On the RADAR Screen =================== BSTE $25.23 - After a huge plunge in September, shares of BSTE have been consolidating just over $27, but began breaking down yesterday. If the $25 level gives way, then look for $20 as a reasonable downside target. MRK $43.94 - Pharmaceutical stock certainly haven't been acting very well, but MRK has been leading the way lower. Now breaking below $44, the stock looks to have downside potential to the $39- 40 area. GTK $18.25 - The trend in GTK is certainly well-established, as the stock has been working its way higher in a consistent channel for more than a year. After pulling back from its all-time highs in mid-October, GTK is rebounding from the midline of the channel and this looks like the point to consider new entries. =============================== Market Sentiment =============================== Q3 GDP Roars - J. Brown Q3 GDP roared at a 7.2% pace, more than double the Q2's 3.3% run. This was the fast growth in 19 years but the markets reaction was ho-hum. Many already had big expectations and the report merely confirmed what the Street was looking for. Although it was certainly above and beyond the estimates there is already talk of it being revised lower when the data is finalized. Investors were also happy to hear that jobless claims remained below the pivotal 400,000 level with 386,000 filing last week. The recent trend under the 400K level suggest that companies have slowed their layoffs, which is the natural precursor to any turnaround in new hirings. We continue to remain cautious with the volatility indices so low. The VXO or old VIX hit a new multi-year low yesterday and closed at 17.50 today. This is a contrarian indicator of extreme bullishness or lack of fear in the markets. Traditionally, when investors become this complacent it's usually time to expect a short-term top in the market averages. The markets will also have to contend with fiscal year end for mutual funds, which takes place tomorrow. While I would normally expect most of the portfolio shuffling to be completed by now October has been a very strong month for fund inflows. It's possible that money managers could do some last minute window shopping. However, normally, funds tend to put their money to work in early November. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 9850 52-week Low : 7197 Current : 9772 Moving Averages: (Simple) 10-dma: 9695 50-dma: 9555 200-dma: 8822 S&P 500 ($SPX) 52-week High: 1053 52-week Low : 768 Current : 1046 Moving Averages: (Simple) 10-dma: 1039 50-dma: 1024 200-dma: 946 Nasdaq-100 ($NDX) 52-week High: 1439 52-week Low : 795 Current : 1417 Moving Averages: (Simple) 10-dma: 1399 50-dma: 1368 200-dma: 1186 ----------------------------------------------------------------- We did see a small jump in the volatility indices but yesterday was a new relative low for all of them. The VIX and VXO continue to suggest caution for bullish investors. CBOE Market Volatility Index (VIX) = 16.33 -0.10 CBOE Mkt Volatility old VIX (VXO) = 17.50 +0.35 Nasdaq Volatility Index (VXN) = 24.74 +0.02 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.81 725,972 585,376 Equity Only 0.70 627,894 439,451 OEX 0.66 26,132 17,264 QQQ 3.19 41,569 132,431 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 73.3 + 0 Bull Confirmed NASDAQ-100 78.0 + 3 Bear Correction Dow Indust. 83.3 + 0 Bull Correction S&P 500 80.0 + 1 Bull Confirmed S&P 100 80.0 + 2 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-dma: 1.00 10-dma: 1.10 21-dma: 1.00 55-dma: 1.07 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 1456 1406 Decliners 1379 1652 New Highs 241 260 New Lows 8 9 Up Volume 1024M 1173M Down Vol. 971M 902M Total Vol. 2016M 2106M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 10/21/03 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 09/30/03 395,713 397,577 ( 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%) 10/21/03 394,176 411,246 (17,070) (2.1%) 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 09/30/03 144,681 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% 10/21/03 136,643 88,290 48,343 21.5% 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 09/30/03 163,828 218,991 (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%) 10/21/03 226,985 236,906 ( 9,921) ( 2.2%) 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 09/30/03 131,698 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% 10/21/03 168,236 56,564 111,672 49.7% 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 09/30/03 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%) 10/21/03 36,314 43,305 ( 6,991) ( 8.8%) 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 09/30/03 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% 10/21/03 16,917 9,750 7,167 26.9% 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 09/30/03 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% 10/21/03 16,876 9,037 7,839 30.3% 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 09/30/03 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%) 10/21/03 5,392 8,842 (3,450) (23.1%) Most bearish reading of the year: (8,777) - 10/12/01 Most bullish reading of the year: 8,523 - 8/26/03 ----------------------------------------------------------------- ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright ) 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Thursday 10-30-2003 section 2 of 2 Copyright (c) 2003, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= Play of the Day: Marching Higher Stop Loss Adjustments: IGT Trading Ideas Value Plays With Bullish Signals Breakout to Upside (Stocks $5 to $20) Breakout to Upside (Stocks over $20) Breakout to Downside (Stocks over $20) Recently Overbought With Bearish Signals (Stocks over $20) ================================================================= Play-of-the-Day ( Bullish ) =============== INTL Game Tech - IGT - cls: 32.50 chng: +0.35 stop: 30.50*new* Company Description: IGT (www.IGT.com) is a world leader in the design, development and manufacture of microprocessor-based gaming and lottery products and software systems in all jurisdictions where gaming and lotteries are legal. (Source: Company Press Release.) Why we like it: After declining to establish support late last week, IGT extended its gains this week. Wednesday the stock gained 0.69 percent. MACD lines separated and turned up again, continuing to move higher as price does. Stochastics and RSI trend at levels indicating overbought conditions, but the sell signals they give on downturns cannot be trusted as long as IGT's trend remains strong. We raised our stop on Tuesday, and will keep the new stop for now, but conservative traders might want to follow the rising 21- dma, setting stops just below that average. Since volume is not expanding on the current rise and since earnings approach next week, we would not suggest new momentum entries. Those considering pullback and bounce entries could enter on a bounce from above $30.50, but those would-be entrants should be aware that we will be recommending that this play be closed on Monday. Such entries would be high risk since such little time remains. Why This is our Play of the Day Continuing its way higher in a steady march (rather than the volatile chop seen in the broad market) IGT is performing just as we had hoped it would, although a bit more slowly. Normally, the pace of a move isn't a major concern, but with the company's earnings report scheduled to be released Tuesday morning before the open, we're running out of time. Remember that we're advocating all positions be closed ahead of that report to avoid the possibility of a "sell the news" type event. IGT broke out over $31.50 on Monday and has steadily advanced right up to today's close. With Friday's session being the last in the month and the quarter, not to mention the fiscal year for mutual funds, it could be that selling into strength near the end of the day tomorrow is the optimum exit strategy. We aren't advocating new entries at this point, but instead want to take this opportunity to remind you to plan your exit strategy. The ideal exit would be on a rally into the $33-34 level. Note that we've raised our stop to $30.50 tonight, as that is just below last Thursday's intraday low, and will be below the 20-dma (currently $30.34) by tomorrow. Annotated Chart of IGT: Picked on October 22nd at $31.00 Change since picked +1.50 Earnings Date 11/04/03 (confirmed) Average Daily Volume = 2.43 mln ================================================================== STOP LOSS ADJUSTMENTS ================================================================== IGT - Adjust from $29.74 up to $30.50 ================== 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 APC Anadarko Petroleum 42.85 +0.51 WHR Whirlpool Corp 71.45 +0.77 VLO Valero Energy Corp 41.40 +1.88 AXS Axis Capital Holdings 24.92 +0.62 OSI Outback Steakhouse 41.63 +1.81 TIN Temple Inland Inc 53.78 +2.72 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- BMC BMC Software 17.12 +1.46 AGU Agrium Inc 15.26 +1.06 TOM Tommy Hilfiger 14.88 +1.03 AKAM Akamai Tech 8.00 +2.04 EFDS EFunds Corp 15.60 +1.23 RML Russell Corp 17.55 +1.34 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- UPS United Parcel Service 71.80 +1.19 UNP Union Pacific 62.77 +1.54 MXIM Maxim Integrated Products 49.44 +1.20 MHP Mcgraw-Hill Companies 67.10 +1.54 ROH Rohm & Haas 38.03 +1.50 NTLI NTL Inc 62.16 +2.10 ALE Allete Inc 30.18 +1.05 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- COF Capital One Financial 59.68 -3.70 ATH Anthem Inc 67.20 -2.04 AET Aetna 56.42 -2.37 MBT Mobile Telesys 75.40 -3.85 MUR Murphy Oil 59.00 -1.47 ESRX Express Scripts 54.38 -4.62 KMG Kerr-Mcgee 41.58 -1.03 BVF Biovail Corp 24.00 -2.81 NTES Netease.com 45.60 -5.04 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- HOT Starwood Hotel 34.50 -1.70 OCR Omnicare Inc 36.81 -1.32 CVH Coventry Health Care 54.34 -3.61 SRCL Stericycle Inc 48.25 -3.09 ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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