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Daily Newsletter, Sunday, 11/09/2003

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PremierInvestor.net Newsletter          Weekend Edition 11-09-2003
                                                    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:      Too Much Good News
Play-of-the-Day:  Time for Gold to Shine
Market Sentiment: Confused Yet?


=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
       WE 11-07        WE 10-31        WE 10-24        WE 10-17
DOW     9809.79 +  8.67 9801.12 +218.66 9582.46 -139.33 + 47.11
Nasdaq  1970.74 + 38.53 1932.21 + 66.62 1865.59 - 46.77 -  2.95
S&P-100  520.70 +  0.72  519.98 +  9.73  511.25 -  6.87 +  0.07
S&P-500 1053.21 +  2.50 1050.71 + 21.80 1028.91 - 10.41 +  1.26
W5000  10289.76 + 65.24 10224.5 +241.02 9983.50 -114.88 + 13.06
RUT      542.96 + 14.74  528.22 + 21.79  506.43 - 13.93 +  1.30
TRAN    2979.29 + 66.18 2913.11 + 85.86 2827.25 - 20.03 + 23.73
VIX       16.93 +  0.83   16.10 -  1.61   17.71 +  0.09 -  0.83
VXO       17.56 +  0.41   17.15 -  1.78   18.93 -  0.26 -  0.05
VXN       25.20 +  0.31   24.89 -  0.56   25.45 +  0.12 -  2.29
TRIN       1.21            1.02            1.44            1.59
Put/Call   0.78            1.12            0.91            0.64
WE = week ending
=================================================================

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

Too Much Good news
by Jim Brown

Can you have too much good news? Apparently too much good news
is not good medicine for the markets. After a week of constant
increases in various economic reports the Dow finished down
-47 points for the day and up only +8 for the week. The Nasdaq
rose +38 for the week and came within 8 points of N2K but also
sold off Friday on the economic overdose.

Dow Chart



Nasdaq Chart



While the Jobs Report was the economic home run on Friday there
were other base hits. The Wholesale Trade numbers rose +0.5%
when expectations were for a drop of -0.2%. Inventories rose
+0.4% and Sales rose +0.5%. This put the inventory to sales
ratio is at an all time low of 1.20. This continues to paint
a picture of a coming boom from inventory replenishment once
demand increases. The increase in sales by +0.5% is providing
hope that we are entering that cycle.

Also adding to the recovery was a huge bounce in consumer
credit of +$15.1 billion when estimates were for only +$5.5B.
Despite a slowdown in auto sales the non-revolving debt was
the fastest grower. No signs of a consumer slowdown here.
This jump was a nearly +10% annualized rate and the fastest
pace since January. This buoyed the hopes of analysts that
the 4Q holiday season could be strong.

By far the biggest dose of reality came from the Jobs Report.
The economy added +126,000 jobs in October and double the
consensus estimate of +60K. If that was not good enough the
+57K gain for September was revised upward to +125,000 and
the -41K for August was revised up to +35K. This was clearly
an out of the park homer with the bases loaded. The net job
gain over the last three months was a whopping +286,000.
Suddenly the jobless recovery became a jobs recovery and
analysts could not raise estimates fast enough. This was the
strongest one month gain since January. The majority of gains
were in service sectors with manufacturing still losing -91K
jobs over the last three months.

While the gain of +286,000 jobs was great it still has not
put a dent in the unemployment rate which is still 6.0%.
Over 8.8 million workers are still unemployed. A sustained
jobs growth of 150,000 per month is needed to overcome the
normal growth in the workforce. I am not complaining but
just explaining. The +286K is light years ahead of the trend
for the last year and a solid foundation for the current
economic recovery. Analysts and traders have constantly
claimed that the recovery would not be official until the
job creation caught up and this is a significant step. Add
in the huge drop in Jobless Claims to 348,000, the jump in
Productivity by +8.1%, GDP to +7.2%, ISM to 57, ISM Services
at 64.7 and a +6.5% jump in semiconductor billings and you
have clearly the best economic news in months if not the
entire year. What did the markets do with this news? They
traded mostly sideways with the Dow gaining only +8 points
for the week.

Ok, now what happened? Why did the indexes suddenly swoon on
the good news? As I explained in my commentary on Thursday
the news is simply too good for investor sentiment. The Fed
has said repeatedly said it would remain on the sidelines
for a "considerable period" of time to allow the economy to
ramp up before adjusting rates. Before Friday's reports the
futures were not predicting the first rate hike until May
with the second one not until the 4Q-2004. A considerable
period of time considering the extremely low rates. After
Friday's reports the futures are now showing an 85% chance
of a hike in March. The jump in the date by a couple months
is very material and is causing a rethinking of market
planning.

The next Fed meeting is four weeks away and the worry now
is that the Fed will take the "considerable period" statement
out of their announcement and possibly change their bias
to tightening. This is a major change of direction and
institutional investors will have to rethink their bond
and equity allocations. I hate to keep repeating this but
markets typically discount 3-6 months ahead and the flat
Fed until May had already been priced into the market.
Shortening that period by 30% puts the next rate hike and
the changing of bias by the Fed well into that six month
window.

Now investors will be buying stocks based on the expectations
of rates rising quickly if the economics continue to be strong.
Any potential rate hike will be offset by an increase in
earnings IF the recovery continues. In the early stages of
an economic recovery rates do rise and investors are used to
that model. The big difference here is that they could rise
much earlier and much quicker than expected just a week ago.

I know this kind of economic double talk is boring and many
readers just skip these paragraphs. I wish I could too but
we need to know what may be in front of us. The Dow drop on
Friday of -47 points is meaningless. More critical to me is
the lack of an advance for the week. We tested the 52-week
highs at 9900 twice during the week but the market seems
very heavy. I know "seems" is a vague word but that is what
I see. The internals are still strong with 1066 new 52-week
highs on Friday. Definitely no weakness there. Advancers
beat decliners and volume was decent. There is nothing to
reach out and touch but the upward momentum is definitely
slowing.

I got a kick out of one reporter on CNBC Friday night saying
the market was not moving higher because there was no catalyst
to give investors a reason to buy. Give me a break! If you
were an investor looking for a reason to buy stocks the last
week was a banner week full of catalysts. If anything there
were too many buy signals and there are simply no buyers
left. Another problem is still the mutual funds. In the last
week $4.4 billion was withdrawn from Putman with as much as
$10 billion withdrawn from the other top five funds under
investigation. This is a huge amount of money to leave the
market in only once week. Considering there was a $15B
withdrawal I think the market did rather well.

Other factors weighed on the markets for the week with 20+
soldiers killed in Iraq and drawing lots of attention and
negative press. A post office in Washington tested positive
for Anthrax and 11 post offices were closed for further
tests. Homeland Security said Al Queda was planning to use
cargo planes to attack the U.S. and "specific and credible"
threats prompted embassy closings for the weekend. Taking
all these items into consideration it is a wonder the Dow
was not down -247 instead of just -47.

For those expecting a bullish week to start November and
historically the two best months of the year then you
may have been disappointed. We closed almost exactly where
we started with tech stocks the only winners. If you are
looking for a week with catalysts to inspire traders it
will not be next week. There are only two major reports
on Monday and then nothing of importance until Friday. The
two reports on Monday are the Richmond Fed and Kansas City
Fed surveys. These chart manufacturing growth and outlook
for those regions and are seen as proxies for the rest of
the country. They are expected to show growth but nothing
exciting. This leaves traders with no news for four days.
Considering the fade on fantastic news Friday this may not
be a bad thing.

Technically the Dow pulled back from the highs to rest on
support at 9800 which had been resistance since early
October. You cannot call that a bad performance. Since
early October we have been trading in a narrow range with
only a slight uptrend as we waded through earnings. With
earnings and economics over for the time being the next
level Dow support at 9700 could be tested soon. The Dow
did not make any attempt to touch 10,000 and several analysts
have expressed doubt we will see it before seeing 9500 again.

The Nasdaq has a better uptrend in place and came very
close to 2000. The drop at the close only brought it back
to uptrend support at 1970 and it was quickly bought. The
continuing good news on semiconductor stocks has put a floor
under techs that will be difficult to break. Add in the CSCO
news that IT spending is starting to increase and all the
feeder stocks that supply Cisco saw a huge pop. It was a
good week for techs despite the Wednesday profit taking.
The Nasdaq is well above strong resistance at 1950 and it
would take a serious sentiment change to move it below even
stronger support at 1900.

Can these indexes reach those support points at 9700/1900?
Sure, if investors decide that potential rate hikes outweigh
the potential gains created by an exploding economy. While
I had been expecting a stronger correction soon I have just
about decided that changing conditions have negated that
possibility. My capitulation is a sure sign that a drop is
near. The VXO remains trapped in the 17.50 range despite
the end of day sell off. The total lack of fear in the
market is the only thing that keeps me hanging on to an
outlook that is filled with caution. I am not going into
all the reasoning again but there is reason to be concerned.

Dollar Chart



Bonds will be under pressure next week with $57 billion
coming to market to finance the deficit. The dollar got
crushed on the employment numbers and there is going to
be more stress next week. The economics and potential
rate changes will cause currency fluctuation until traders
the world over balance their risk profiles to the new
paradigm.

The biggest news of the week was actually the Greenspan
warning shot about the deficit and the coming Social
Security problem. According to Greenspan the first baby
boomer retirees will begin retiring in five years and
accelerate sharply from there. He said the Social Security
and Medicare benefits promised under current law for these
retirees CANNOT be financed with current tax rates. No
surprise there since this warning has been present for the
last 20 years. The fact that Greenspan chose to resurrect
it in a major speech at this time in the political cycle
almost seemed to be a free shot a the current administration.
He warned that this will set into motion an "unsustainable
dynamic" that could have "notable destabilizing effects on
the economy." He said "tax rate increases of sufficient
dimension to deal with our looming fiscal problems pose
significant risks to economic growth and the revenue base."
In other words he sees a real crisis coming that simply
raising taxes will not cure and it starts in 2008. These
comments were glossed over in reports about the speech
but I think they are the most important paragraphs.

Greenspan speech:
http://www.federalreserve.gov/boarddocs/speeches/2003/20031106/default.htm

I attended a financial seminar sponsored by Citigroup a
couple months ago and they were projecting the same thing.
Their outlook was for a massive tax increase in early 2005
once the elections were over. There are various reasons that
I have explained here in the past. The reason I bring this
up again is to remind readers to plan their long term
investing wisely and watch out for these significant market
challenges ahead. The mainline press conveniently failed to
discuss these points in the Greenspan speech.

We have a very flat economic week ahead and no material
earnings other than Dell on Thursday. There is very little
to capture investor attention and the mutual fund scandal
will probably return to the top of the news sound bites.
If the cash outflows continue from the top funds in trouble
then that will impact the market. The squeeze is on for
those in the headlines but the money will eventually find
its way back to the market in another fund. This 2-3 week
cycle time should help slow any market gains. In summary,
the market has some more consolidation work to do before
moving higher and that consolidation should continue next
week. We are more than likely going to remain trapped in
our current range from 9600-9900. The excitement has faded
and to twist the reporters comments slightly, there is no
catalyst on the horizon to rekindle that excitement. After
over eating a big thanksgiving dinner the urge to nap is
strong and after the economic overdose this week the
markets need to take that nap.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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


AngloGold - AU - close: 41.10 change: +1.83  stop: 38.25

Company Description:
AngloGold, headquartered in Johannesburg, South Africa, is a
global gold producer with 19 operations in eight countries, on
four continents, and has extensive and focused exploration
activities in 11 countries.  (Source:  Company Press Release)

Why We Like It:
For more than a month, AU traded in a symmetrical triangle at the
top of its most recent rise.  Most such triangles break out in
the direction in which the stock was trading at the time the
triangle was formed.  That was true of AU, too, with Friday's
breakout being to the upside.  Strong volume confirmed the move,
too.  A component of the XAU, AU might benefit from gains made as
the $XAU moves up to challenge its recent highs.

October 31, AU announced earnings that included a 5 percent
decline in net profits.  The South African company cited the
strengthening of the rand among other increasing costs. Labor
costs contributed, too. Quarter-over-quarter, the news was
better.  AU's net profit increased 70 percent over the previous
quarter, with a hefty portion of those gains attributed to non-
hedge derivative gains.  The EPS was above expectations.  AU
announced that it would reduce its hedging since spot gold prices
had been rising.  As part of that earnings release, AU revealed
its commitment terms to takeover Ashanti Goldfields (ASL), with
ASL recommending AU's $1.4 billion offer to purchase the Ghana
gold miner back in mid-October.  The companies expect the merger
to be approved.

Watch for pullbacks and bounces from above $40.00 for new
entries.  If AU does not pull back, new entries might be found on
a volume-backed move above the October high.  Verify strength in
the XAU, too.  We're targeting $45.00, and have set an initial
stop at $38.25, just below AU's 30-dma (black) and below the apex
of its triangle.

Annotated Chart for AU:


Picked on Nov 7 at  41.10
Change since picked: +1.46
Earnings Date:    10/31/03 (confirmed)
Average Daily Volume:  1.0 million





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

Confused Yet?
- J. Brown

The markets were holding their breath for the October non-farm
payrolls report.  Expectations were high and the economy
delivered with 126,000 new jobs in October and unemployment
falling to 6 percent, the lowest level in months.  The paint an
even rosier picture they revised the August loss of 41,000 jobs
to a gain of 35,000.  We've seen over 200,000 jobs added in the
last three months so why didn't the markets explode higher?

Part of the reason may be the market's gains from October.  The
Dow added 526 points or 5.6 percent in October with no
consolidation.  The NASDAQ added 8.1 percent in October and
another 2 percent just in November.  With so much "profit"
already in the markets many investors are more inclined to sell
the news.  The prevailing train of thought is that we'll still
see Dow 10K and NASDAQ 2K before any significant pull backs but
then the markets tend to make a habit of fooling people

A lot of the trader talk the last week has been filled with
comments about the market being toppy, sick, unhealthy, etc.  The
extremely low volatility indices don't help matters and odds of a
consolidation of some kind are growing.  If you're looking for
bullish trades a dip to the 50-dma in the DJIA or COMPX may be
the best bet but I'd wait for the bounce.


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

Market Averages

DJIA ($INDU)

52-week High:  9903
52-week Low :  7197
Current     :  9809

Moving Averages:
(Simple)

 10-dma: 9790
 50-dma: 9613
200-dma: 8864

S&P 500 ($SPX)

52-week High: 1062
52-week Low :  768
Current     : 1053

Moving Averages:
(Simple)

 10-dma: 1050
 50-dma: 1032
200-dma:  951

Nasdaq-100 ($NDX)

52-week High: 1453
52-week Low :  795
Current     : 1436

Moving Averages:
(Simple)

 10-dma: 1423
 50-dma: 1383
200-dma: 1199


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

Volatility indices continue to hover around their lows as the
major averages remain near their highs.  They continue to suggest
caution and a potential top in the markets forming.  Surprise,
surprise.

CBOE Market Volatility Index (VIX) = 16.93 +0.19
CBOE Mkt Volatility old VIX  (VXO) = 17.52 -0.06
Nasdaq Volatility Index (VXN)      = 25.20 -0.15


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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.78        744,763       582,223
Equity Only    0.61        643,147       394,891
OEX            1.00         28,570        28,705
QQQ            0.71         14,754       100,442


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

Bullish Percent Data

           Current   Change   Status
NYSE          73.9    + 0     Bull Confirmed
NASDAQ-100    75.0    + 1     Bear Correction
Dow Indust.   83.3    + 3     Bull Correction
S&P 500       81.0    + 0     Bull Confirmed
S&P 100       80.0    + 1     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: 1.11
10-dma: 1.03
21-dma: 1.08
55-dma: 1.10


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    1565      1585
Decliners    1252      1520

New Highs     361       363
New Lows        9        12

Up Volume    868M      900M
Down Vol.    838M     1001M

Total Vol.  1736M     1918M
M = millions


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

Commitments Of Traders Report: 11/04/03

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

It's been a long week since last we looked at the COT data
and we're still not seeing any big moves by the Commercial
traders.  The same holds true for small traders but they did
reduce some of their short positions.


Commercials   Long      Short      Net     % Of OI
10/14/03      391,972   410,299   (18,327)   (2.3%)
10/21/03      394,176   411,246   (17,070)   (2.1%)
10/28/03      391,596   412,498   (20,902)   (2.6%)
11/04/03      391,079   415,136   (24,057)   (3.0%)

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
10/14/03      133,940    86,418    47,522    21.6%
10/21/03      136,643    88,290    48,343    21.5%
10/28/03      137,791    76,791    61,000    28.4%
11/04/03      137,829    78,206    59,623    27.6%

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

Hmm... we are seeing some movement in the e-minis.  Commercials
have upped their short positions by 24K contracts.  Small Traders
may have gotten the hint too.  Short interest is up but the real
change is the 45K drop in long contracts.


Commercials   Long      Short      Net     % Of OI
10/14/03      221,897   233,066    (11,169)  ( 2.5%)
10/21/03      226,985   236,906    ( 9,921)  ( 2.2%)
10/28/03      220,171   260,644    (40,473)  ( 8.4%)
11/04/03      242,409   270,785    (28,376)  ( 5.5%)

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
10/14/03      161,208    59,213   101,995    46.3%
10/21/03      168,236    56,564   111,672    49.7%
10/28/03      123,569    59,742    63,827    34.8%
11/04/03      135,525    63,006    72,519    36.5%

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


NASDAQ-100

This time it's the Small Traders making a move in the NDX
futures.  Long contracts are up nearly a third to more than
21K.  Commercials are still comatose but the trend is growing
slowly more bearish with a small bump in short positions.


Commercials   Long      Short      Net     % of OI
10/14/03       34,639     41,880   ( 7,241) ( 9.5%)
10/21/03       36,314     43,305   ( 6,991) ( 8.8%)
10/28/03       36,168     46,272   (10,104) (12.3%)
11/04/03       34,159     48,293   (14,134) (17.1%)

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
10/14/03       16,822     9,046     7,776    30.1%
10/21/03       16,917     9,750     7,167    26.9%
10/28/03       21,640     8,830    12,810    42.0%
11/04/03       24,132     9,703    14,429    42.6%

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

There is very little change here for the Small Trader but
Commercial Traders have upped both their longs and their shorts.


Commercials   Long      Short      Net     % of OI
10/14/03       16,595     9,433    7,162      27.5%
10/21/03       16,876     9,037    7,839      30.3%
10/28/03       20,504    11,366    9,138      28.7%
11/04/03       21,756    11,903    9,853      29.3%

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
10/14/03        6,427     8,495   (2,068)   (13.9%)
10/21/03        5,392     8,842   (3,450)   (23.1%)
10/28/03        5,295     8,864   (3,569)   (25.2%)
11/04/03        5,099     9,160   (4,061)   (28.5%)

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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Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 11-09-2003
                                                    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
  Bearish Play Updates:  FLML

Active Trader (Non-tech)
  Bullish Play Updates:  BDK, IR
  Bearish Play Updates:  BG, STT, T

High Risk/Reward
  New Bullish Plays:     AU
  New Bearish Plays:     MXO
  Bullish Play Updates:  GNTX, RAD

Split Announcements:     LABL


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

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

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


Flamel Tech. S.A. - FLML - cls: 24.94 chng: +0.64 stp: 27.50

While FLML has been continuing in its downward trek over the past
week, the rate of descent has been slowing and the bulls did
their best to hold the line just below $24 over the past 3 days.
The stock has fallen into the gap left behind in late August, an
we're expecting a continuation down to the bottom of that gap
just above $21.  Before that happens though, we might be in for
another failed bounce to the 10-dma ($26.12).  A rollover near
that level would be the next solid entry setup.  On the other
hand, a drop under $23.95 can be used for momentum entries,
targeting the bottom of the gap.  The last rebound failed at
$27.50, so that's where we're keeping our stop this weekend.  A
move above that level would break the pattern of lower highs and
be an early sign that the downward trend has ended.

Picked on November 2nd at $25.25
Change since picked        -0.31
Earnings Date            1/29/04 (unconfirmed)
Average Daily Volume =  1.59 mln





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

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

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


Black Decker CP - BDK - close: 47.54  change: 0.41  stop: 45.90*new*

Although BDK's 0.86 percent decline came on lighter-than-usual
volume, we don't like the look of the bearish candle produced
Friday.  BDK also closed beneath its 10-dma for the first time
since mid-October.  Although BDK has been holding steady,
consolidating near its recent highs, we suspect it may be time
for a deeper pullback.

BDK might have suffered as a result of the downturn in the
housing stocks.  The Dow Jones US Homebuilders Index $DJUSHB
dropped a much more significant 4.81 percent, and we note that
fellow toolmaker Stanley Works (SWK) also dropped .87 percent.
Since that bearish candle did stay within BDK's recent
consolidation band, the bearishness is mitigated, but we think
it's time to raise the stop.  Conservative traders might want to
lock in gains instead by setting a stop at $46.84, below the
recent nine-day consolidation band.  Pullbacks and bounces from
above $46.00 would still make appropriate new entries.

Annotated Chart for BDK:


Picked on Oct 03 at  46.16
Change since picked: +1.38
Earnings Date:    10/22/03 (confirmed)
Average Daily Volume:  824 thousand




---



Ingersoll-Rand - IR - close: 60.21 change: -1.21 stop: 58.30

IR was looking strong on Thursday, with a breakout over $61 and a
close near the high of the day.  So Friday's red candle appears
to be a bit of a problem, as it filled in Thursday's gap and
completely reversed that gain.  That reversal came once again at
the midline of the channel, and it is somewhat disconcerting to
see the stock's inability to get back into the upper half of that
channel.  Assuming this is just a bit of consolidation before the
next upward leg, IR should not dip below $59 (old resistance
becomes support) before continuing higher.  A rebound from above
that level can be used for new entries, while a drop below the
20-dma ($59.00) would be cause for concern.  Traders looking to
enter on strength will need to see a move above Friday's intraday
high ($61.80) before playing.  Maintain stops at $58.30, just
below the top of the 10/27 gap.

Picked on October 29th at $60.68
Change since picked        -0.47
Earnings Date            1/21/04 (unconfirmed)
Average Daily Volume =  1.22 mln






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


Bunge Limited - BG - close: 26.74 change: +0.21 stop: 27.55*new*

Just when it looked like the breakdown in shares of BG was well
underway, the stock found buying support just above $26.  After a
tight consolidation session above that level on Thursday, the
stock gapped higher on Friday in what looked like a reversal
move.  But the final minutes of the day had the bulls scurrying
for cover and that bounce attempt appears to be failing.  That
sets us up for a potential entry early next week if BG falls
below Friday's intraday low of $26.69.  Looking at the daily
chart, old support near $27 should now be acting as resistance
and this rollover below that level may have been a good
aggressive entry late of Friday.  Traders looking for
confirmation before playing should wait for the stock to drop
under $26 before playing, looking for a move down to our $24.00-
24.50 target.  Resistance should now be firm in the $27.25-27.50
area, so we're lowering our stop just a bit to $27.55.

Picked on November 2nd at $27.10
Change since picked        -0.36
Earnings Date            1/29/04 (unconfirmed)
Average Daily Volume =     474 K





---


AT&T - T - close: 18.93  change: +0.16  stop: 20.05

Oops.  Last week, AT&T received a $780,000 fine for calling its
customers on an internal do-not-call list.  We don't think that
fine impacted T's trading pattern, however.  Perhaps JP Morgan's
initialization of the company at an underweight rating had some
impact.  Something did.  Most of the week, T slipped lower
beneath its 200-dma, but Friday something strange happened.  T
opened near the flatline, traded slightly higher, and then at
midday showed a spike up to $20.00.  We're not sure whether this
was a bad tick, but several services show the quick spike.
Intraday charts do not show a volume spike to support that higher
price.  Neither does the daily volume, which was far lower than
average.

Whatever happened, T closed the day beneath the 200-dma again.
Friday's action turned up RSI, but we're not sure whether to
trust that oscillator, as it may take another day or two to reset
itself after that untrustworthy data.   The North American
Telecoms Index $XTC's daily candle also shows an upper shadow,
perhaps the effect of T's price uptick.  The index also showed a
small gain for the day.

While this dip back below the 200-dma looks like an ideal new
entry, we urge caution in light of today's strange trading
pattern.  Some might prefer to wait for a momentum entry on a dip
below the 10/31 low.  We encourage those considering new entries
to watch volume patterns, too.

Annotated Chart for T:


Picked on Oct 29 at  19.07
Change since picked: -0.14
Earnings Date:    10/21/03 (confirmed)
Average Daily Volume:  7.0 million




---


State Street Corp. - STT - close: 50.93 change: +0.03 stop: 53.75

Based on the price action over the past 2 days, it looks like we
guessed correctly that the $50 support area was one of critical
importance to STT.  Thursday saw a brief dip down to the 30-dma
($49.98) and rebound, while Friday's rebound to just above $51.50
was quickly rejected as well.  The net result is that the stock
ended within just a few pennies of where it was when we initiated
coverage, and it has yet to satisfy our entry trigger.  That
$49.35 trigger is just below the 10/23 intraday low and waiting
for it to be hit should keep us out of trouble.  Aggressive
traders can enter the play on the initial breakdown, while those
with a more cautious approach will want to see a subsequent
failed bounce below to coerce them into the play.  Once that
breakdown does occur, STT looks immediately vulnerable to $48
support, where the 50-dma ($48.04) lies in wait.  That should be
mild support, and once below there, we're expecting STT to make
progress down to our eventual target in the $44-45 area, which is
currently the bearish PnF price target.

Picked on November 5th at $50.74
Change since picked        +0.03
Earnings Date            1/13/04 (unconfirmed)
Average Daily Volume =  1.66 mln






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

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

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


AngloGold - AU - close: 41.10 change: +1.83  stop: 38.25

Company Description:
AngloGold, headquartered in Johannesburg, South Africa, is a
global gold producer with 19 operations in eight countries, on
four continents, and has extensive and focused exploration
activities in 11 countries.  (Source:  Company Press Release)

Why We Like It:
For more than a month, AU traded in a symmetrical triangle at the
top of its most recent rise.  Most such triangles break out in
the direction in which the stock was trading at the time the
triangle was formed.  That was true of AU, too, with Friday's
breakout being to the upside.  Strong volume confirmed the move,
too.  A component of the XAU, AU might benefit from gains made as
the $XAU moves up to challenge its recent highs.

October 31, AU announced earnings that included a 5 percent
decline in net profits.  The South African company cited the
strengthening of the rand among other increasing costs. Labor
costs contributed, too. Quarter-over-quarter, the news was
better.  AU's net profit increased 70 percent over the previous
quarter, with a hefty portion of those gains attributed to non-
hedge derivative gains.  The EPS was above expectations.  AU
announced that it would reduce its hedging since spot gold prices
had been rising.  As part of that earnings release, AU revealed
its commitment terms to takeover Ashanti Goldfields (ASL), with
ASL recommending AU's $1.4 billion offer to purchase the Ghana
gold miner back in mid-October.  The companies expect the merger
to be approved.

Watch for pullbacks and bounces from above $40.00 for new
entries.  If AU does not pull back, new entries might be found on
a volume-backed move above the October high.  Verify strength in
the XAU, too.  We're targeting $45.00, and have set an initial
stop at $38.25, just below AU's 30-dma (black) and below the apex
of its triangle.

Annotated Chart for AU:


Picked on Nov 7 at  41.10
Change since picked: +1.46
Earnings Date:    10/31/03 (confirmed)
Average Daily Volume:  1.0 million




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


Maxtor Corp. - MXO - close: 12.15 change: -1.49 stop: 14.05

Company Description:
Maxtor Corporation is a provider of hard disk drives for a
variety of applications, including desktop computers, Intel-based
servers, near-line storage systems and consumer electronics. The
company's desktop products are marketed under the Fireball,
DiamondMax and MaXLine brand names, and consist of 3.5-inch hard
disk drives with storage capacities ranging from 20 to 300
gigabytes per platter and speeds of 5,400 RPM (revolutions per
minute) and 7,200 RPM. The company also provides a line of high-
end 3.5-inch hard disk drives for use in high-performance,
storage-intensive applications such as workstations, enterprise
servers and storage subsystems. These Intel-based server products
are marketed under the Atlas brand name and provide storage
capacities of 18.4 to 146.9 gigabytes at speeds of 10,000 RPM and
15,000 RPM.

Why we like it:
Despite the mild losses in the overall market on Friday, shares
of MXO got clocked for a nearly 11% loss on volume that more than
doubled the ADV.  Interestingly, there was no company-specific or
sector news to explain the severe drop.  Nonetheless, the drop
created some serious problems for the bulls and has the bears
waking from hibernation.  The first sign of trouble was the drop
through the 50-dma ($12.97) and this is the first time the stock
has been below that measure since early May.  Next, MXO fell
through the 10/23 low ($12.40) and finally, the trade at $12
created a fresh PnF Sell signal (the first in a year), with a
tentative bearish price target of $9.  Looking at the daily
chart, the $9 level certainly does seem to be important, as it is
the site of strong support, which will be reinforced by the
rising 200-dma (currently $8.57).

After such a large one-day drop, picking the right entry point is
a real challenge.  There's too much risk in chasing the stock
lower, especially with price closing below the lower Bollinger
band ($12.24).  So we're going to take a different approach and
use somewhat of a different trigger for the play.  We're looking
for a bounce early next week, similar to what was seen after the
plunge on 10/22.  Since this is the second big downdraft in just
a few weeks, we're expecting the bounce to be weaker this time
around.  With the understanding that if MXO just continues to
plunge, we'll miss out on the play, we're using a trigger on the
expected bounce.  When MXO bounces up to touch the 50-dma, there
ought to be plenty of supply appearing, so we'll use a $13.00
trigger on the play.  Aggressive traders can look to enter on a
trade at that level, while the more conservative approach will be
to wait for rejection from that price level.  There is likely to
be some support found first at $11.75, then $11 on the way to our
$10 target.  We might be pleasantly surprised by a continuation
down towards the 200-dma, but we'll happily settle for a 20% move
from Friday's closing price and a 30% move from our trigger.
Once triggered, we'll use an initial stop of $14.25, which is
safely above both last week's highs and the 20-dma ($14.02).

Annotated Chart of MXO:


Picked on November 9th at $12.15
Change since picked        +0.00
Earnings Date            1/20/04 (unconfirmed)
Average Daily Volume =  3.76 mln




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

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


Gentex Corp - GNTX - close: 41.15 change: +0.71  stop: 38.75*new*

Thursday, GNTX triggered this play by climbing above the
ascending trendline that had been capping its upward movements.
Friday, it added to those gains.  Now that the play has
triggered, we're raising our stop.

Although GNTX popped above its upper Bollinger band (not shown on
the chart) and fell back from its high, it doesn't yet look ready
to retrace and retest the broken resistance.  Volume was strong,
almost 1 1/2 times average daily volume on Friday.  MACD lines
separated and turned up again.  If GNTX does retest that
trendline, establishing it as support, new entries could be found
on bounces from above that trendline.  With many car
manufacturers gaining only slightly, we would be careful about
momentum entries at this point.

Annotated Chart for GNTX:


Picked on Oct 29 at  39.69
Change since picked: +1.46
Earnings Date:    10/15/03 (confirmed)
Average Daily Volume:  520 thousand



---

Rite Aid - RAD - close: 6.30  change: +0.23  stop: 5.75*new*

RAD has performed well since being listed as a new play on
Wednesday.  In fact, it's performed so well that we're raising
our stop to $5.75, just underneath the 30-dma at $5.76.  Volume
rose through the end of the week as RAD climbed above the October
high, confirming the strength of the breakout.

Also confirming that strength was the MACD cross.  RSI and
stochastics turned up earlier in the week and continue to move
up.  Although RSI has moved into territory connoting overbought
conditions, it has not yet turned down.

Some volatility might ensue as RAD approaches $6.50, however, as
this price marks the bearish resistance line on its P&F chart.
Those seeking new entries could wait for a pullback and bounce as
RAD tests that level, making sure that volume decreased on the
pullback and increased on the bounce.  Those seeking a momentum
entry might wait for a push above $6.50.

Annotated Chart for RAD:


Picked on Nov 05 at   5.95
Change since picked: +0.35
Earnings Date:    09/25/03 (confirmed)
Average Daily Volume:  3.5 million





=================================================================
Split Trader/Stock Splits
=================================================================

Announcements
-------------


LABL splits common shares 3-for-2

Minutes before today's opening bell, Multi-Color Corporation
(NASDAQ:LABL) announced that its Board of Directors has approved a
3-for-2 stock split of its common shares.

The payable date for the stock split is set for November 30th,
2003 to shareholders on record November 17th.  This is the
company's second stock split in as many years

About the company:
Cincinnati, Ohio based Multi-Color Corporation is a premier global
resource of cost-effective and innovative decorating solutions and
packaging services to consumer product and food and beverage
companies, national retailers and container manufacturers
worldwide. Multi-Color is the world's largest producer of both in-
mold labels (IMLs) and heat transfer labels (HTLs), and a major
manufacturer of high-end pressure sensitive labels and shrink
sleeves. The Company's Packaging Services Division, Quick Pak, is
a leading provider of promotional packaging, assembly and
fulfillment services. Multi-Color has seven manufacturing
locations in the United States. Its products are shipped to more
than 250 customers in the U.S., Canada, Mexico, Central and South
America, and Asia. (Source: Company Press Release)



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PremierInvestor.net Newsletter          Weekend Edition 11-09-2003
                                                    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 November 10, 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 November 3rd
==========================================

-----------------
Earnings Calendar
-----------------


Symbol  Company               Date           Comment      EPS Est

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

ABV    AmBev - Companhia     Mon, Nov 10  -----N/A-----     0.32
AIV    Apartment Invest MngmtMon, Nov 10  Before the Bell   0.83
AOT    Apogent Technologies  Mon, Nov 10  After the Bell    0.36
BOBE   Bob Evans Farms  Mon, Nov 10  -----N/A-----          0.52
BAB    British Airways  Mon, Nov 10  -----N/A-----           N/A
EP     El Paso Corp.         Mon, Nov 10  Before the Bell   0.02
IFX    Infineon Technologies Mon, Nov 10  Before the Bell  -0.05
LZB    La-Z-Boy Inc.         Mon, Nov 10  After the Bell    0.29
NAB    National Aust Bank    Mon, Nov 10  -----N/A-----      N/A
NTY    NBTY Inc.             Mon, Nov 10  After the Bell    0.34
PSUN   Pacific Sunwear Cali  Mon, Nov 10  After the Bell    0.29
LQU    Quilmes Industrial    Mon, Nov 10  After the Bell     N/A
RRI    Reliant Resources     Mon, Nov 10  -----N/A-----     0.43
KPN    Royal Kpn N.V.        Mon, Nov 10  -----N/A-----      N/A
SPP    Sappi Ltd             Mon, Nov 10  Before the Bell   0.11
TS     TENARIS S A           Mon, Nov 10  After the Bell    0.53
TSN    Tyson Foods           Mon, Nov 10  -----N/A-----     0.37
VRTX   Vertex Pharm Incorp   Mon, Nov 10  -----N/A-----    -0.49
WR     Westar Energy, Inc.   Mon, Nov 10  Before the Bell    N/A


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

ANF    Abercrombie & Fitch   Tue, Nov 11  After the Bell    0.52
ATO    Atmos Energy Corp     Tue, Nov 11  -----N/A-----    -0.15
BAY    Bayer                 Tue, Nov 11  Before the Bell    N/A
CVC    Cablevision Sys Corp. Tue, Nov 11  Before the Bell  -0.37
GIB    CGI Group             Tue, Nov 11  Before the Bell    N/A
CMS    CMS Energy Corp.      Tue, Nov 11  -----N/A-----     0.11
CCH    Coca-Cola Hellenic    Tue, Nov 11  Before the Bell   0.51
CSC    Computer Sciences CorpTue, Nov 11  After the Bell    0.59
DISH   EchoStar Cmmu Corp.   Tue, Nov 11  Before the Bell   0.16
ENR    Energizer, Inc.       Tue, Nov 11  -----N/A-----     0.66
FOSL   Fossil, Inc.          Tue, Nov 11  -----N/A-----     0.33
GALN   Galen Holdings PLC    Tue, Nov 11  Before the Bell   0.65
IPR    Intl Power            Tue, Nov 11  Before the Bell    N/A
JCP    JC Penney             Tue, Nov 11  Before the Bell   0.26
KUB    Kubota Ltd            Tue, Nov 11  -----N/A-----      N/A
LEE    Lee Enterprises IncorpTue, Nov 11  Before the Bell   0.44
COL    Rockwell Collins, Inc.Tue, Nov 11  Before the Bell   0.40
IMI    SanPaolo IMI SpA      Tue, Nov 11  -----N/A-----      N/A
SHU    Shurgard Strge Cntrs  Tue, Nov 11  After the Bell    0.64
TRK    Speedway Motorsports  Tue, Nov 11  Before the Bell   0.04
SCMR   Sycamore Networks     Tue, Nov 11  After the Bell   -0.04
THC    Tenet Hlthcr          Tue, Nov 11  Before the Bell   0.05
IPG    Intrpblc Grp of Co IncTue, Nov 11  -----N/A-----     0.14
MAY    The May Dprtmnt StoresTue, Nov 11  -----N/A-----     0.11
TJX    The TJX Companies Inc.Tue, Nov 11  Before the Bell   0.35
UBS    UBS                   Tue, Nov 11  Before the Bell    N/A
WGR    Western Gas Resources Tue, Nov 11  Before the Bell   0.48


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

ANN    AnnTaylor Stores      Wed, Nov 12  After the Bell    0.61
AMAT   Applied Materials     Wed, Nov 12  -----N/A-----     0.05
CWP    Cable & Wireless PLC  Wed, Nov 12  Before the Bell    N/A
CNA    CNA Finl Corp         Wed, Nov 12  Before the Bell  -1.97
CM     Coles Myer            Wed, Nov 12  -----N/A-----      N/A
RIO    Companhia Vle Rio DoceWed, Nov 12  After the Bell    0.78
DHI    D.R. Horton           Wed, Nov 12  After the Bell    1.30
DRYR   Dreyer's Grnd Ice Crm Wed, Nov 12  After the Bell     N/A
ELN    Elan Corp, PLC        Wed, Nov 12  Before the Bell  -0.22
E      ENI SpA               Wed, Nov 12  During the Market 1.19
ESPD   eSpeed, Inc.          Wed, Nov 12  After the Bell    0.18
FD     Fdrated Dprtmnt StoresWed, Nov 12  Before the Bell   0.33
HP     Helmerich & Payne     Wed, Nov 12  -----N/A-----     0.16
IAG    Iam Gold Corp         Wed, Nov 12  After the Bell    0.05
LTR    Loews Corp.           Wed, Nov 12  Before the Bell   1.17
MDT    Medtronic Inc.        Wed, Nov 12  After the Bell    0.39
NTLI   NTL INC               Wed, Nov 12  Before the Bell    N/A
OGE    OGE Energy            Wed, Nov 12  Before the Bell   1.21
PTP    Pltnm Underwriters    Wed, Nov 12  After the Bell    0.52
ROIAK  Radio One             Wed, Nov 12  Before the Bell   0.09
SQM    Scdd Quimica  Minera  Wed, Nov 12  Before the Bell    N/A
WFMI   Whole Foods Market    Wed, Nov 12  After the Bell    0.39


------------------------- THUSDAY -----------------------------

AEOS   Am Eagle Outfitters   Thu, Nov 13  Before the Bell   0.24
RMK    Aramark Corp          Thu, Nov 13  Before the Bell   0.47
ARM    ArvinMeritor, Inc.    Thu, Nov 13  Before the Bell   0.36
IRE    Bank of Ireland       Thu, Nov 13  -----N/A-----      N/A
BF     BASF                  Thu, Nov 13  Before the Bell    N/A
BEAS   BEA Systems           Thu, Nov 13  After the Bell    0.08
BE     BearingPoint, Inc.    Thu, Nov 13  Before the Bell   0.03
BNG    Benetton Group        Thu, Nov 13  -----N/A-----      N/A
BOX    BOC Group PLC         Thu, Nov 13  Before the Bell    N/A
BTY    BT Group PLC          Thu, Nov 13  Before the Bell    N/A
SID    Co Siderurgica Nacl   Thu, Nov 13  Before the Bell   0.90
DELL   Dell, Inc.            Thu, Nov 13  -----N/A-----     0.26
DT     Deutsche Telekom      Thu, Nov 13  Before the Bell    N/A
ERJ    Embrr-Emprs BrasileiraThu, Nov 13  After the Bell    0.17
EN     Enel S.p.A.           Thu, Nov 13  -----N/A-----      N/A
EVC    Entravision Cmmu Corp Thu, Nov 13  After the Bell   -0.02
GMST   Gemstar-TV Guide Intl Thu, Nov 13  After the Bell   -0.07
HB     Hillenbrand IndustriesThu, Nov 13  Before the Bell   1.08
IDCC   InterDigital Cmmu CorpThu, Nov 13  Before the Bell   0.00
JHX    James Hardie Ind N.V. Thu, Nov 13  -----N/A-----      N/A
KSS    Kohl's                Thu, Nov 13  -----N/A-----     0.42
MTA    Matav                 Thu, Nov 13  -----N/A-----      N/A
OMX    Officemax             Thu, Nov 13  Before the Bell   0.13
PBY    Pep Boys              Thu, Nov 13  Before the Bell   0.24
SI     Siemens AG            Thu, Nov 13  -----N/A-----      N/A
SBUX   Starbucks             Thu, Nov 13  After the Bell    0.17
TGT    Target Corp           Thu, Nov 13  Before the Bell   0.33
TEF    Telefonica de Espaqa  Thu, Nov 13  Before the Bell    N/A
TIF    Tiffany & Co.         Thu, Nov 13  Before the Bell   0.19
UBB    Unbnc - Un Bancos  .  Thu, Nov 13  -----N/A-----     0.67
UCOMA  UnitedGlobalCom, Inc. Thu, Nov 13  Before the Bell  -0.33
UVN    Univision Cmmu        Thu, Nov 13  After the Bell    0.13
URBN   Urban Outfitters      Thu, Nov 13  During the Market 0.29
WMT    Wal-Mart Stores Inc.  Thu, Nov 13  Before the Bell   0.47


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

AZ     Allianz AG            Fri, Nov 14  Before the Bell    N/A
ALT.MC Altadis               Fri, Nov 14  Before the Bell    N/A
BSY    British Sky Brdcstng  Fri, Nov 14  Before the Bell    N/A
CNO    CONSECO INC           Fri, Nov 14  -----N/A-----      N/A
GPX    GP Strategies         Fri, Nov 14  -----N/A-----     0.01
IMCL   ImClone Systems IncorpFri, Nov 14  -----N/A-----    -0.51
ING    ING Groupe NV         Fri, Nov 14  -----N/A-----      N/A
LUK    Leucadia National     Fri, Nov 14  -----N/A-----      N/A
L      Liberty Media Group   Fri, Nov 14  -----N/A-----     0.07
PBR    Petrobras             Fri, Nov 14  -----N/A-----     1.31
SDX    Sodexho Alliance S.A. Fri, Nov 14  -----N/A-----      N/A


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

Symbol  Co Name              Ratio    Payable     Executable

BHE     Benchmark Electronics Inc 3:2      Nov  13th   Nov  14th
LSTR    Landstar System, Inc      2:1      Nov  13th   Nov  14th
BLUD    Immucor, Inc              3:2      Nov  14th   Nov  17th
MSEX    Middlesex Water Company   4:3      Noc  14th   Nov  17th
LYTS    LSI Industries Inc        5:4      Nov  14th   Nov  17th
ERTS    Electronic Arts           2:1      Nov  17th   Nov  18th
SYMC    Symantec Corp             2:1      Nov  19th   Nov  20th
JBLU    JetBlue Airway            3:2      Nov  20th   Nov  21st


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

Economic reports take a break after last Friday's non-farm
payrolls number.  Yet this week is not without news and the
majority of economic data comes out on Thursday and Friday.


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

----------------
Monday, 11/10/03
----------------
CIBC World Markets Health Care Conference


-----------------
Tuesday, 11/11/03
-----------------
CIBC Health care conference


-------------------
Wednesday, 11/12/03
-------------------
J.P.Morgan Small cap conference


------------------
Thursday, 11/13/03
------------------
Initial Claims  (BB)  11/08  Forecast:     N/A  Previous:     348K
Export Prices ex-ag.(BB)Oct  Forecast:     N/A  Previous:    -0.1%
Import Prices ex-oil(BB)Oct  Forecast:     N/A  Previous:     0.2%
Trade Balance (BB)      Sep  Forecast: -$40.5B  Previous:  -$39.2B
Goldman Sachs software conference

----------------
Friday, 11/14/03
----------------
PPI (BB)                Oct  Forecast:    0.2%  Previous:     0.3%
Core PPI (BB)           Oct  Forecast:    0.1%  Previous:     0.0%
Retail Sales (BB)       Oct  Forecast:    0.1%  Previous:    -0.2%
Retail Sales ex-auto(BB)Oct  Forecast:    0.3%  Previous:     0.3%
Industrial Productin(DM)Oct  Forecast:    0.4%  Previous:     0.4%
Capacity Utilization(DM)Oct  Forecast:   74.9%  Previous:    74.7%
Mich Sentiment-Prel.(DM)Nov  Forecast:    91.5  Previous:     89.6


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

MO      Altria Group Inc           49.51    +2.21
MWD     Morgan Stanley             56.93    +0.73
AMX     Americal Movil             26.00    +0.72
CSC     Computer Sciences Corp     40.69    +1.23
VLO     Valero Energy Corp         44.00    +0.77
HET     Harrah's Entertainment     45.78    +1.18


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

AKAM    Akamai Technologies Inc    10.30    +1.22
DRTE    Dendrite Intl Inc          16.97    +1.32
ARXX    Aeroflex Inc               13.02    +1.39


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

FOX     Fox Entertainment Group    29.91    +1.04
BAY     Bayer Aktien               25.90    +1.73
APD     Air Products & Chemicals   46.80    +1.22
PSA     Public Storage Inc         43.00    +1.65


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

AIG     American Intl Group        58.28    -1.59
WYE     Wyeth                      39.72    -2.98
UNH     Unitedhealth Group Inc     47.85    -1.25
CAH     Cardinal Health Inc        56.99    -1.96
STX     Seagate Tech Hldgs         21.74    -1.65
LTR     Loews Corp                 38.99    -2.80
AZO     Autozone Inc               93.30    -2.82
LEN     Lennar Corp CI A           90.99    -4.00


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

CFC     Countrywide Financial     102.00    -3.21
VMSI    Ventana Medical Systems    39.61    -1.09




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