PremierInvestor.net Newsletter Wednesday 11-19-2003 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: Stocks End Losing Streak ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 11-19-2003 High Low Volume Advance/Decline DJIA 9690.46 + 66.30 9707.64 9614.24 1.62 bln 1712/1105 NASDAQ 1899.65 + 17.90 1903.43 1880.31 1.78 bln 1805/1269 S&P 100 516.82 + 4.60 517.57 512.22 Totals 3517/2374 S&P 500 1042.44 + 8.29 1043.95 1034.15 RUS 2000 525.62 + 3.94 527.15 519.84 DJ TRANS 2866.87 - 0.08 2878.21 2843.77 VIX 18.80 - 0.31 19.51 18.65 VXO 19.45 - 0.45 20.41 19.35 VXN 29.96 + 0.31 30.40 29.15 Total Volume 3,832M Total UpVol 1,288M Total DnVol 2,486M 52wk Highs 302 52wk Lows 47 TRIN 0.81 PUT/CALL 0.87 ================================================================= =========== Market Wrap =========== Stocks End Losing Streak by James Brown U.S. stock market averages ended a four-day losing streak as Jim's mysterious buyers* arrived on time to buy the dip (*see yesterday's wrap). Strong housing data and a round of positive corporate news ushered in a wide rally. Only airlines and oil service stocks seemed to attract any heavy selling while buyers concentrated on technology with Internets, semiconductors, networking and biotech lead the way. Rumors were circling that the Bank of Japan intervened last night to lift the dollar off its five-year lows against the yen near 107.55. The greenback also bounced back from its all-time lows against the euro. Foreign exchanges were not so lucky. The Japanese NIKKEI index fell 282 points to close at 9614. This comes on the heels of Monday's 380-point loss. The Hang Seng dropped another 154 points to follow up on its 200-point drop from Monday. The drop was likely fueled by the new import caps on Chinese textiles announced yesterday. The Hang Seng closed at 11,872. European stocks were mostly lower following the weakness from their Asian counterparts. The broad-based rally here at home lifted 25 out of 30 Dow components and the majority of sector indices closed green. Advancing stocks ran past decliners 17 to 11 on the NYSE and 18 to 12 on the NASDAQ. Up volume was about twice down volume on both exchanges. The 66-point bounce in the DJIA lifted the index back towards the 9700 level but it failed to close above it. Likewise the 17.9-point rally in the NASDAQ took it right to the 1900 mark but failed to close above it. That doesn't sound very convincing if you're looking for new bullish positions. Yet looking at the rising trend from March you'll notice that most of the short-term lows took a good three or four days to consolidate before the next rebound truly appeared. Chart of the DJIA: Chart of the NASDAQ: The economic news of the day was the U.S. housing starts for October. The Commerce Department reported that the number of new homes started in October jumped 2.9%. This pushed the rate to an adjusted rate of 1.96 million homes a year. This was the highest level since 1986 and well above analyst estimates of 1.85 million. The report also said that new starts for single-family homes jumped 5.7% to a rate of 1.62 million - another record level not seen since the mid-1980s. While the homebuilders failed to rally on the report it is good news. High home starts and sales promote strong consumer spending, which will continue to give the economy an underlying strength. Thank goodness for a resilient retail investor because the feds are busy on Wall Street again. In addition to the growing mutual fund scandal the FBI busted 37 brokers and charged 10 more in a currency trading scam. The bust came last night and authorities arrested traders from J.P.Morgan UBS Warburg, even a former employee of the Federal Reserve. Thankfully, the markets appeared to ignore the news and shares of JPM lost a mere 13 cents. There were plenty of stocks making headlines today but none bigger than General Electric (GE). GE offered strong earnings guidance for 2005 but said 2004 would likely be flat as it adjusted its "portfolio" into a position to generate double-digit growth again. The company did raise its dividend by 5 percent and said it would split off part of its mortgage and life insurance business. The IPO, expected to launch next year, is called Genworth Financial and said to be worth as much as $10 billion. GE plans to initially spin off 30% of the company before slowly divesting themselves fully of the business. GE's stock was the most active on the Big Board today and closed up 3.6%. Discount broker Charles Schwab (SCH) also made news when they announced a $321 million acquisition of SoundView Technology (SNDV). This values SNDV at $15.50 and equals a 17 percent premium above SNDV's stock price from yesterday. SCH claims SNDV will be a good addition to their own research operations. Shares of SCH dropped 8 cents to $11.34 and SNDV jumped 16% to $15.41. Internet stocks made some gains today after a Smith Barney analyst, Lanny Baker, said online advertising revenues should jump 20 percent in 2004 and remain strong throughout 2005. Yahoo! Inc. (YHOO) saw its price target raised $3 to $46 while DoubleClick (DCLK) had its price target lifted $3 to $12 after Lanny upgraded DCLK from a "sell" to a "buy". The INX internet index rose 2.54% after three days of heavy losses. It was interesting to note the UTY utility index bounced 1.4% after a government report came out today fingering Ohio's FirstEnergy Corp as the culprit for the nation's largest blackout. FirstEnergy denies the claim but the report said FirstEnergy failed to monitor its electrical transmission systems. The August 14th blackout spread to eight states and took out 263 power plants. Investors welcomed positive news from Analog Devices (ADI), Big Lots (BLI) and United Health (UNH) as all three raised their earnings guidance. The ADI and UNH news helped fuel strong gains in the SOX semiconductor index and the HMO healthcare index. Wall Street received even more good news after the close with earnings reports from retailer Hot Topic (HOTT) and Hewlett- Packard (HPQ). HOTT reported Q3 earnings of 31 cents a share, which beat estimates by 3 cents. Sales jumped 32 percent with same-store sales climbing 10.8 percent. Meanwhile Dow component HPQ beat estimates by a penny, with 36 cents a share sans one- time items. HPQ's Q4 net profit came in at $862 million, which was twice its year-ago numbers. The company gave credit to strong sales of technology services and PC's. Tomorrow is up for grabs in my book. Bulls would like to see some follow through on today's bounce but as I mentioned earlier previous lows all took three or four days to consolidate before buyers could initiate the next rebound. The markets continue to receive positive economic and corporate earnings news but the urge to harvest gains appears to be growing as we approach the end of the year. This belief that investors are comfortable with their year-to-date gains and therefore less likely to chase stocks higher could lead to a range bound market. Overall the mutual fund scandal and rising geo-political tensions are psychological hurdles that could put the brakes on this traditionally bullish season. As Jim mentioned in his wrap yesterday the situation regarding Syria is heating up and I read a newsflash today stating the U.S. had just doubled the number of troops on the Iraq-Syrian border. Thursday will bring a number of earnings announcements from the retail sector. Announcing are: American Eagle Outfitters (AEOS), Barnes & Noble (BKS), Borders Group (BGP), Claire's Stores (CLE), The Gap (GPS), Foot Locker (FL), and Limited Brands (LTD). Also announcing is Dow component Disney (DIS). ================= Trading Ideas ================= The Trading Ideas column should be back on Monday, Nov. 24th. ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright (c) 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form
PremierInvestor.net Newsletter Wednesday 11-19-2003 section 2 of 2 Copyright ) 2003, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= In section two: Tech Stocks New Bullish Plays: ZBRA Bullish Play Updates: CTSH Active Trader (Non-tech) Bearish Play Updates: T, PVN Closed Bullish Plays: RSH High Risk/Reward New Bullish Plays: JNPR New Bearish Plays: CYD Bullish Play Updates: HPC, RAD, STLD Bearish Play Updates: SLR, TRMS Closed Bullish Plays: GNTX Split Trader/Stock Splits Announcements: AMHC, MMSI, ROST ================================================================== Net Bulls (NB) Tech Stock section ================================================================== ========= NEW PLAYS ========= ----------------- New Bullish Plays ----------------- Zebra Tech - ZBRA - close: 60.20 change: +1.05 stop: 57.99 Company Description: Zebra Technologies Corporation delivers innovative and reliable on-demand printing solutions for business improvement and security applications in 100 countries around the world. More than 90% of Fortune 500 companies use Zebra-brand printers. A broad range of applications benefit from Zebra-brand thermal bar code, "smart" label, receipt, and card printers, resulting in enhanced security, increased productivity, improved quality, lower costs, and better customer service. The company has sold more than three million printers, including RFID printer/encoders and wireless mobile solutions, and also offers software, connectivity solutions, and printing supplies. (Source: Company Press Release) Why We Like It: ZBRA has profited from good news lately. October 23, it posted earnings that showed the company benefiting from a stronger euro and sales in emerging markets. At the close of trading October 31, Standard and Poor's added ZBRA to its S&P SmallCap 600 and S&P REIT Composite Indices. Early this month, ZBRA announced an alliance with a company that provides data collection and integration solutions for companies running some SAP systems. The alliance targets companies involved with consumer packaged goods, retail and pharmaceuticals. With that good news and an ascending triple top breakout P&F buy signal produced on November 3, and with an upside target of $65.00 backing up our $65.00 target, we feel good about this play. In addition, the bar chart shows the strong base ZBRA formed at $58.00 before beginning the current assault on its all- time high at $60.77. We've set a trigger at $60.80, just above that all-time high. Annotated Chart for ZBRA: Picked on Nov 19 at 19.07 Change since picked: +0.00 Earnings Date: 10/23/04 (confirmed) Average Daily Volume: 618 thousand ============ PLAY UPDATES ============ -------------------- Bullish Play Updates -------------------- Cognizant Tech. - CTSH - cls: 45.08 chng: +0.69 stop: 43.50*new* After failing to break to new highs last week, shares of CTSH needed to pull back and consolidate a bit for the next bullish move. As expected, the $44 level has proved to be solid support, with buyers defending that level each day this week. While today's bounce was fairly small, it looks like it could be the beginning of the next rebound attempt. With support from the bottom of the rising channel ($43.90) and the 30-dma ($44.15) rising to meet price action, entries near this support certainly look favorable on a risk-reward basis. If CTSH is going to make another bullish run, then the bottom of the channel should not be broken, and that gives us the ability to raise our stop to $43.50. Traders looking for some conviction before playing will want to wait for a move back over $45.50 (breaking the short-term descending trendline) before entering the play. The first major upside test will come near $47 and if the stock can break above that 3-week resistance level, we can set our sights on a run up towards the top of the long-term rising channel, currently just below $50. Picked on November 12th at $46.86 Change since picked -1.78 Earnings Date 1/20/04 (unconfirmed) Average Daily Volume = 1.05 mln ================================================================== Stock Bottom / Active Trader (AT) section ================================================================== ============ PLAY UPDATES ============ -------------------- Bearish Play Updates -------------------- AT&T - T - close: 19.22 change: 0.08 stop: 20.05 All week, T's media department remained busy producing press releases on new T contracts. Another news service released the information that Mexican telecom Alestra, owned by T, had finally concluded an exchange offer. A lack of interest had made negotiations difficult for the company, necessitating seven extensions to the $570 million offer. The news appeared to have little impact on T's trading pattern. The stock consolidates in an ever-tightening triangular pattern. While it consolidates, oscillators such as stochastics, MACD, and RSI have generally been slanting higher. That can be a bearish sign, showing that despite the upward momentum, the price was not able to make upward progress. When those oscillators top out and roll over again, price then often moves down. We wouldn't be surprised, however, to see T first pop up to test its descending 30-dma. Any bounce and rollover would offer a new entry as T rolls down through its 200-dma again. A breakdown out of the triangular pattern would also offer an entry as T moved down through that 200-dma. Annotated Chart for T: Picked on Oct 29 at 19.07 Change since picked: +0.15 Earnings Date: 10/21/03 (confirmed) Average Daily Volume: 7.0 million --- Providian Financ. - PVN - cls: 10.52 chng: +0.11 stop: 11.20 After breaking down last week, shares of PVN fell as low as $9.97 on Monday before finally seeing a bounce. This rebound is really no surprise, given the solid support at $10. While the stock did manage a 1% rebound on Wednesday, the fact that it came on very light volume hints that perhaps this rebound is already running out of steam. The ideal entry setup of a rollover below the $10.75 level, just under the 10-dma ($10.80) could present itself before the week is out. With the 200-dma now rising to $9.20, we may have to content ourselves with a target in the $9.25-9.50 area. Waiting for the rollover before entry is the best course of action at this point due to the fact that the oscillators are starting to turn up. We need to let them run their course and then enter on price weakness as the oscillators once again flatten and turn down. Maintain stops at $11.20. Picked on November 12th at $10.88 Change since picked -0.36 Earnings Date 1/28/04 (unconfirmed) Average Daily Volume = 2.92 mln ============ CLOSED PLAYS ============ -------------------- Closed Bullish Plays -------------------- RadioShack - RSH - close: 30.33 change: -0.32 stop: 30.30 Although the S&P Retail Index and many electronics retailers such as CC and BBY gained in Wednesday's trading, RSH hit our stop during early-morning weakness. It rebounded from its test of its 50-dma and closed above $30.00 again, but could not close above its 30-dma. An examination of intraday volume patterns shows the biggest spikes during the up moves, but RSI, stochastics, and MACD all still turn down. We're not sure what happened to RSH and why it performed differently than BBY and CC. We don't find any reports of downgrades, but the weakness relative to other retailers may be providing a warning to RSH investors. Picked on Nov 12 at 32.15 Change since picked: -1.82 Earnings Date: 10/21/03 (confirmed) Average Daily Volume: 1.2 million ================================================================== HIGH RISK/HIGH REWARD (HR) section ================================================================== ========= NEW PLAYS ========= ----------------- New Bullish Plays ----------------- Juniper Networks - JNPR - close: 17.69 change: +0.39 stop: 16.25 Company Description: Juniper Networks, Inc. is a provider of network infrastructure solutions that transform the business of networking by converting bandwidth into a dependable and secure corporate asset. The company's products, services and solutions enable service providers and other network-intensive businesses to support and deliver services and applications on an efficient and low-cost integrated network. Products are designed and purpose-built for service provider networks and offer its customers high performance with less complexity and cost than legacy alternatives. Why we like it: Ever since the first leg of the rebound off the March lows finished its first leg in early June, JNPR has settled into a steady price advance within a rising channel. Each visit to the top of the channel meets with selling pressure, while any drop near the bottom of the channel sees renewed buying interest. The 50-dma ($17.18) has been critical as well, with each successive dip having a harder time penetrating this average. The late October dip barely penetrated the 50-dma before once again sending the stock to new highs for the year. JNPR is still on a PnF Buy signal and even though the vertical count of $15 has already been exceeded, we're looking for a continued rally to take the stock up near the $20 level for another test of the top of the channel. Today's rebound from just above the 50-dma looks like the beginning of that next upward leg, and this seems to be a favorable entry point into that move before it really gets moving. A dip as low as $17 (currently the bottom of the channel) can be used for aggressive entries, while more conservative traders may want to wait for a rally through the $18.10 level, which would take the stock through near term resistance at the 10-dma ($18.18) and 20-dma ($17.96). Initial stops will be placed at $16.25, which is just slightly below the low of the late October dip ($16.27), as well as the upward- sloping lower Bollinger band. Annotated Chart of JNPR: Picked on November 19th at $17.69 Change since picked +0.00 Earnings Date 1/08/03 (unconfirmed) Average Daily Volume = 10.2 mln ----------------- New Bearish Plays ----------------- China Yuchai Intl - CYD - close: 16.55 change: -1.15 stop: 29.01 Company Description: China Yuchai International is an exporter and manufacturer with executive offices in Singapore and manufacturing facilities in China. The company's product range includes auto diesel engines for all kinds of light, medium, or heavy duty automobiles with the power ranging from 74KW to 199KW; engineering machinery and marine diesels with the power ranging from 53KW to 112KW; and stationary and movable diesel generator power station for all series of diesel engines with the power ranging from 12KW to 120KW. (Source: Company Website.) Why We Like It: In mid October, the Pacific Exchange began listing this engine- maker on its exchange. That day, the shares gained on almost four times average daily volume, sending the shares hurtling toward their November high. Volume has remained high since that time, with average daily volume rising from the then 800 thousand average to the present 4.0 million average. Not all that volume has been positive, however, as volume has been increasing as CYD falls from its November high. We chose this play because of the technical aspects showing up on its bar chart, including a likely "b" distribution pattern. These types of patterns usually break to the downside. Helping to confirm the importance of a break of the recent support just above $25.00 is a Fibonacci retracement that follows CYD's phenomenal rise from less than $6.00 early this summer to this month's $37.24 high. That recent support lies at the 38.2 percent Fib rally retracement level. A break of that support should call for a retest of the 50 percent retracement level at $21.42 and perhaps even a test of the 61.8 percent retracement at $17.66. CYD's P&F chart also shows a sell signal with a $17.50 downside target, affirming our belief that our $20.00 target is an achievable one. We're setting a trigger on a move below $25.00. Although we expect to see volatility as CYD approaches the 50- dma, currently at $23.85, the 30-dma has proved more important in recent months and CYD is already below that moving average. The necessity to place the stop so high makes this a high-risk play. Annotated Chart for CYD: Picked on Nov 19 at 26.55 Change since picked: +0.00 Earnings Date: 03/25/03 (confirmed) Average Daily Volume: 4.0 million ============ PLAY UPDATES ============ -------------------- Bullish Play Updates -------------------- Hercules Inc. - HPC - close: 10.21 change: +0.14 stop: 9.99 HPC has not yet triggered this play with a move above $10.51. It's been taking its time, consolidating above its 200-dma in a bullish triangular formation with a flat top at $10.50 and a rising bottom trendline roughly defined by the 200-dma. As HPC consolidates, volume has been dropping lower, as is appropriate behavior for a consolidating stock. Since this play remains a high-risk bet on the typical Fibonacci retracement of 50 percent of a steep decline, participants might want to confirm that volume expands on a breakout before taking a position. As MACD slants up toward the signal line, it will soon be now-or- never time for this play, as MACD either breaks above signal as price does, or as MACD rounds down below signal and price breaks lower, too. It shouldn't be long. Annotated Chart for HPC: Picked on Nov 14 at 10.36 Change since picked: -0.15 Earnings Date: 10/30/03 (confirmed) Average Daily Volume: 864 thousand ---- Rite Aid - RAD - close: 5.97 change: -0.03 stop: 5.75 Wal-Mart's (WMT) disappointing results continue to weigh on the drugstore companies, but many steadied in Wednesday's trading. WMT moved higher, CVS printed a doji just above support, and WAG climbed. RAD slipped just below $6.00, but it did so on about half daily average volume. It managed a close at the $5.97 support, above the linked 21- and 30-dma's at $5.94 and $5.93, respectively. One troublesome sign remains the bearish divergence on the MACD. We would like to see MACD push up through its new descending trendline as price moves higher. Since MACD sometimes moves slowly, that push might come after the price move, but confirm that RSI has turned up before entering new positions on bounces from the current level. RSI moves faster, being a more sensitive indicator. Some might prefer to wait for a bounce above the month's high for a momentum entry, confirming that volume expands with such a move. Annotated Chart for RAD: Picked on Nov 05 at 5.95 Change since picked: +0.02 Earnings Date: 09/25/03 (confirmed) Average Daily Volume: 3.5 million ---- Steel Dynamics - STLD - close: 19.42 change: -0.16 stop: 17.99 Tuesday, Standard & Poor's Ratings Services announced that it was raising STLD's $187.5 million senior secured bank credit facility and also affirmed its other ratings for STLD. The $187.5 million senior secured bank credit was raised to a "BB" rating from the previous "BB-." Standard & Poor's noted that the company's capital structure had improved. This good news was combated by the uncertainty surrounding the compromise talks underway to end U.S. tariffs on imported steel. The steelmakers tentatively agreed to the compromise, ending the tariffs six months early, but only because they're threatened with a plan to end them immediately. While these negotiations continued, STLD retreated to the years- long horizontal S/R that it broke through last week. It has managed closes above $19.00 and its 10-dma, but RSI continues to decline. Volume proved heavier than average, something that we didn't want to see, but an examination of intraday volume showed the heaviest volume spike on an up move. RSI continues to slant down, breaking through its ascending trendline on Wednesday. Because that trendline had risen so high, we're not sure whether the RSI trendline break was as significant as it might otherwise have been, but that trendline break is somewhat worrisome. Because of the uncertainty concerning the tariffs and the rising volume on a declining day, we're not sure whether we would suggest new entries until STLD breaks above last week's high. Confirm rising volume if that break occurs. Annotated Chart for STLD: Picked on Nov 12 at 19.78 Change since picked: -0.36 Earnings Date: 10/22/03 (confirmed) Average Daily Volume: 359 thousand -------------------- Bearish Play Updates -------------------- Solectron Corp. - SLR - close: 5.40 change: +0.03 Stop: 6.02 With the Semiconductor index (SOX.X) trying to hold onto support near the $500 level, our SLR play is rebounding from just above the $5.00 level that we suspected might act as near-term support. The dominant factor though is the broken support at $5.50, which should now be strong resistance. Traders that didn't enter on the initial breakdown appear to be getting a second chance and a rollover in the $5.50-5.75 area can be used for new entries. The combined resistance of the 10dma and 20-dma (both at $5.70) should reinforce that resistance and continue to pressure the stock lower. Once below Monday's intraday low, we can look for downside continuation and a drop to our $4.50 target. If looking to enter on weakness, then make sure the SOX is falling and back under the $500 level. Maintain stops at $6.02, which in addition to being just above the high from last Thursday, is right at the 50-dma. Picked on November 16th at $5.58 Change since picked -0.18 Earnings Date 12/22/03 (unconfirmed) Average Daily Volume = 5.41 mln --- Trimeris, Inc. - TRMS - close: 21.65 chng: -0.45 stop: 23.40*new* It looks like that break of the $23 support level was significant, because once below that level, TRMS has just continued to lose ground. Even a rebound in the broad market and the Biotechnology sector (BTK.X) couldn't keep the stock from falling and once again closing near it's low of the day. TRMS is making steady progress towards our initial target of $20 and at the current rate, could see that level by the end of the week. Since rolling over on November 10th, the stock has been headed lower in a descending channel, the bottom of which hits $20 by the end of the week. Breakdown entries at this point seem a bit on the aggressive side, but those still looking for an entry can consider a failed bounce below $22.25, which is currently the top of the descending channel. Conservative traders should look to harvest profits near the $20 level if reached by the end of the week, while those willing to risk a bounce can hold on for a continued decline towards the $18 level. We're lowering our stop to $23.50 tonight, which is just above Monday's intraday high. Picked on November 16th at $23.20 Change since picked -1.55 Earnings Date 10/15/03 (confirmed) Average Daily Volume = 629 K ============ CLOSED PLAYS ============ -------------------- Closed Bullish Plays -------------------- Gentex Corp - GNTX - close: 39.62 change: +0.35 stop: 39.15 Still suffering from Prudential's downgrade last Thursday, GNTX dipped exactly to our $39.15 stop before climbing most of the rest of the day on Wednesday. Three times, however, GNTX tried to climb above $40.00 again, and was turned back each time just below $39.90. It fell back slightly into the close, closing just below its 21-dma. It did not manage to retrace more than half of Tuesday's big decline, a sign of lingering weakness. GNTX's chart has tended to mirror F's, and we note weakness in F through the early part of the week, too, with F also springing up from its test of support on Wednesday. Was GNTX's pop above that inverse neckline a trap for bulls or has this dip below it been a trap for the bears? Only time will tell, but both GNTX and F display charts with bearish crosses on the daily MACD. On GNTX's chart, RSI hooked up on GNTX's stock as it climbed through the afternoon. Picked on Oct 29 at 39.69 Change since picked: +0.05 Earnings Date: 10/15/03 (confirmed) Average Daily Volume: 520 thousand ================================================================= Split Trader/Stock Splits ================================================================= Announcements: ------------- AMHC declares first split since 2001. Before today's opening bell, American Healthways Inc (NASDAQ:AMHC) announced that its Board of Directors has approved a 2-for-1 stock split of its common shares. The payable date for the stock split is set for December 19th, 2003 to shareholders on record December 5th. The stock split would increase shares of AMHC to approximately 32 million. This would be AMHC's first stock split since the fourth quarter of 2001. About the company: American Healthways (AMHC) is the nation's leading and largest provider of specialized, comprehensive disease management and care enhancement services proven to improve the quality of health care and lower costs. As of Aug. 31, 2003, the Company had 838,000 actual lives under management nationwide. For more information visit www.americanhealthways.com. (Source: Company Press Release) --- MMSI manufactures a 4-for-3 stock split for its shareholders Before today's opening bell, Merit Medical Systems Inc. (NASDAQ:MMSI) announced that its Board of Directors has approved a 4-for-3 stock split of its common shares. The payable date for the stock split is set for December 2nd, 2003 to shareholders on record November 28th. The stock split will increase MMSI's shares to approximately 26 million shares of common stock outstanding. This would be MMSI's second stock split this year. About the company: Founded in 1987, Merit Medical Systems is a publicly traded company engaged in the development, manufacture and distribution of proprietary disposable medical products used in interventional and diagnostic procedures, particularly in cardiology and radiology. The company serves client hospitals worldwide with a domestic and international sales force totaling approximately 74 individuals. Merit Medical employs approximately 1,200 individuals worldwide, with manufacturing facilities in South Jordan and Salt Lake City, Utah; Santa Clara, Calif.; Angleton, Texas; and Galway, Ireland. For more information about Merit Medical, visit www.merit.com. (Source: Company Press Release) --- ROST retails a 2-for-1 stock split and increases dividend After today's closing bell, Ross Stores Inc (NASDAQ:ROST) announced that its Board of Directors has approved a 2-for-1 stock split of its common shares. The payable date for the stock split is set for December 18th, 2003 to shareholders on record December 2nd. In addition to the stock split, the BoD declared a quarterly cash dividend of $0.0575 per common share, on a pre-split basis. The payable date for the dividend is set for January 2nd, 2004 to shareholders on record December 2nd. About the company: Ross Stores, Inc. operates a national chain of 573 off-price retail stores in 25 states, offering first quality, in-season, branded apparel and apparel-related merchandise for the entire family at prices that average 20% to 60% less than department and specialty stores, as well as merchandise for the home at similar savings. Additional information can be found on the Company's website at www.rossstores.com (Source: Company Press Release) ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright (c) 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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