Option Investor
Newsletter

Daily Newsletter, Sunday, 11/23/2003

HAVING TROUBLE PRINTING?
Printer friendly version
PremierInvestor.net Newsletter          Weekend Edition 11-23-2003
                                                    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:      Support Holds Again
Play-of-the-Day:  Look Out Below
Market Sentiment: Event Risk


=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
       WE 11-23        WE 11-14        WE 11-07        WE 10-31
DOW     9628.53 -140.15 9768.68 - 41.11 9809.79 +  8.67 +218.66
Nasdaq  1893.88 - 36.38 1930.26 - 40.48 1970.74 + 38.53 + 66.62
S&P-100  511.77 -  7.24  519.01 -  1.69  520.70 +  0.72 +  9.73
S&P-500 1035.28 - 15.07 1050.35 -  2.86 1053.21 +  2.50 + 21.80
W5000  10098.88 -145.78 10244.6 - 45.10 10289.7 + 65.24 +241.02
RUT      525.93 -  7.03  532.96 - 10.00  542.96 + 14.74 + 21.79
TRAN    2845.32 - 82.32 2927.64 - 51.65 2979.29 + 66.18 + 85.86
VIX       18.98 +  2.04   16.94 +  0.01   16.93 +  0.83 -  1.61
VXO       19.89 +  2.26   17.63 +  0.07   17.56 +  0.41 -  1.78
VXN       29.08 +  2.92   26.16 +  0.96   25.20 +  0.31 -  0.56
TRIN       1.04            1.35            1.21            1.02
Put/Call   0.80            0.69            0.78            1.12
WE = week ending
=================================================================

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

Support Holds Again
by Jim Brown

Buyers circled the wagons at Dow 9600 and fought off all
the attackers. Threats of increased terror attacks, downgrade
to a Dow component, option expiration and new mutual fund
allegations failed to push the indexes lower. Sellers tried
to run over buyers but were turned back each time.

Dow Chart


Nasdaq Chart



The was no major economic news on Friday with Internet Sales
the most noteworthy report. Sales climbed to $13.29 billion
for the 3Q and the second highest volume ever. The current
quarter is expected to be the best ever as consumer acceptance
of the web continues to grow. YHOO rose on the news but AMZN
lost ground. EBAY was still reeling from the suit filed
yesterday by AT&T but closed well off the lows at $51.90.
AT&T sued EBAY claiming that PayPal violated their patent on
ecommerce payments. Seems AT&T patented the third party pmt
process where an uninterested 3rd party handles payments for
a two other unrelated parties. This boggles my mind how they
could patent a concept as broad as that. They are asking for
all profits made using their concept as well as damages and
that PayPal cease taking payments or pay license fees. AT&T
was granted the "Mediation of Transactions by a Communication
System" patent in 1994.

Considering PayPal is not doing anything different than Visa
and MasterCard have been doing for years, handling payments
between two parties, it is hard to understand how AT&T can
win this suit. However, EBAY was just hit with a $29 million
judgment for offering "Buy it Now" auctions. Seems somebody
else patented the concept of offering to end an auction early
for a fixed price. Amazon and Barnes and Noble went to court
over the "1-click" option on Amazon. The suit was eventually
settled out of court. Amazing. Let's go one step further.
Option Investor was threatened a couple years ago for using
the phrase "knowledge is power" in an article because it had
been trademarked. A quick search on Google comes up with
8,670,000 pages with that phrase in print. Selling license
rights for $100 per occurrence would be highly lucrative.
It appears you can copyright, patent or trademark anything
and once done you lay in wait for somebody to trip over your
rights and allow you to sue them. Now if I could just figure
out how to patent air.

The only other economic report was the ECRI Weekly Leading
Index which rose to 130.9 from 129.2. The six-month growth
rate rose to 11.1%. The index had stalled for about a month
but over the last three weeks has begun moving up again.
The +11.1% growth rate is down from the high of +13.5%
back in August and the drop was mostly due to the jump in
interest rates. Now that the index is rising again it is
another indication that there is a recovery underway.

In stock news Dow component MRK set another 52-week low
after scrapping a late stage diabetes drug. MRK was hit
with downgrades, some very negative in tone, and dropped
nearly -$3 to close just above $42.00. On Nov-12th MRK
pulled another drug which it had been testing for six years
for depression. MRK has been on the sell list since July
and the bargain hunters were starting to pay attention with
the spike to $47 last week but now even the bottom fishers
are deserting it.

FRE made history by restating earnings to the upside by
nearly $5 billion dollars. $4.4 billion came from 2000-2002
and $600 million from periods before that. FRE said that
they may not be able to complete 2003 accounting until
next June. The company claims it had previously understated
earnings to smooth the volatility and warned that the new
accounting will show that much higher volatility in future
releases. Because FRE uses derivatives to hedge its interest
exposure it has massive swing potential depending on the
current rate environment. Needless to say regulators are
not impressed and wonder what other mushrooms might be
growing in the FRE accounting dept. Since they under
reported instead of over reported they are not in the
Enron or WorldCom category but breaking the rules is
still breaking the rules. FRE spiked +$5 on the news over
the last three days and then gave up nearly half as the
smoke cleared.

The mutual fund scandal continued with Bear Stearns hit
with a subpoena for mutual fund trading records. Innocent
until proven guilty of course. Wal-Mart announced that it
was pulling two Putman funds out of the 401K options for
employees. Revlon and Interpublic Group also said they
were pulling assets from Putman. Based on the latest
estimates Putman has seen withdrawals of over $25 billion
over the last three weeks and more companies are fleeing
the fund daily. This is continuing to pressure the broader
market as the fund family churn is removing some of the
upward bias.

The mutual fund pressure on the market took a back seat
to the weekend terror prospects. Homeland Security warned
that there was an increased chance of an attack against
the U.S. both at home and abroad over the weekend due to
the Ramadan holiday. The government stressed concerns that
Al-Qaeda could try to hijack cargo jets and crash them into
targets. They issued that warning as well as warnings of
an increased bombing alert to law enforcement agencies
world wide. They specifically warned that bridges, dams,
chemical and energy plants were at higher risk. They told
Americans worldwide to maintain a heightened state of
vigilance for possible attacks this weekend. They expressed
concern that the ending of Ramadan and the beginning of
the heavy Thanksgiving travel season could produce higher
risk. Ramadan was kicked off with multiple attacks and
officials fear it could end with a series of coordinated
attacks. Ramadan ends on Tuesday.

Despite the heightened terror alert the markets held their
ground. Volume was light and advancers beat decliners by a
ratio of 4:3. The option expiration Friday may have helped
defuse the selling by providing a mixture of position
closings. The markets tracked pretty closely to the maximum
pain points for the index options. Most closed within a
strike of the point where the most options would expire
worthless. This shows a fairly level bias and was one of
the closest expirations we have seen lately.

The Dow hit support at 9600 and bounced briefly before a
strong sell program managed to punch through that level for
a few ticks but the index was quickly bought in strength.
While the buyers rushed to buy the morning dip they were
content to maintain their positions around the 9620 level
instead of chasing sellers higher. The index traded in
barely more than a 30 point range from 11:00 until the
close. The Dow closed around 20 points below its 50 DMA
at 9656 and on solid support.

The Nasdaq also closed positive +12 and only traded in
negative territory for about 25 minutes in early trading.
The Nasdaq has tested support at 1880 for three days and
each time returned to rest just below 1900. The 50 DMA
is 1903 and well within striking distance.

There are so many conflicting opinions about market
direction next week that it can be very confusing. There
are ten analysts in the Market Monitor each day and I think
there were ten different market views on Friday. Some view
the next week as the potential cliff with Friday as the
last step before taking the plunge. I believe the opposite.

I think the dead stop on support this week has relieved
the selling pressure and the lack of a bounce was due to
the terror wild card. Who in their right mind would invest
serious money on a day that the U.S. is warning about a
high risk of attack over the next three days? That kept
many people out of the market but just enough stayed in
to maintain a strong bid just under Dow 9600. Last week
had been up for the last ten years and the trend has been
broken. Next week has a very bullish record over the last
50 years and I think that Friday was a setup day. Traders
are positioned for the worst with a sharp increase in the
VXO at Friday's close as put buying increased sharply.
They refused to sell and protected positions instead.
Futures went out near the high of the day after the cash
close.

I believe the stage is set and Monday could be a bullish
day with Tuesday even stronger. Monday could still have a
cloud over it with Ramadan ending on Tuesday. The flaw in
this view is the weekend event risk. If we have an event
close to home then the markets could break support and
we could see another leg down. If we have an event overseas
like the Turkey attacks then the market should hold its
ground and should see any dip bought. If we have no event
then the markets should breathe a sigh of relief and begin
a rebound into Thanksgiving. If this does not come to
pass I will be eating crow instead of turkey on Thursday.

My rationale for this is the continuing strong economic
reports, the Fed going out of their way to stress low rates
for a long time, the holiday mood and historical trend. We
have sold off substantially from the 9900 level by nearly
300 points yet the Dow refuses to turn lose of the 50 DMA
at 9650. Friday the Dow traded at or below the 50 DMA all
day but closed only about 20 points below it on very
negative news. If you look at the Dow since March it has
not traded a single day below the 50 DMA all day. It has
traded below it but never without touching it intraday.
Obviously trends are only trends until they change but
this trend has held the line during a very rough week. It
could easily change on Monday but without a weekend event
I am betting against it.

Now the bad news. I do not think that the bounce, if we
get one, will take us to new highs. I still think we are
going to be range bound for the rest of the year between
9600-9900. Using the Fed's comment format I will phrase
it this way. The author perceives that the upside and
downside risks are roughly equal. In contrast, the
probability, though minor, of an unwelcome fall in the
markets exceeds that of a rise above its recent highs.
While I say that jokingly it is how I view the future.
Should we get a bounce next week we will end it only a
week ahead of the next Fed meeting and that one will have
some serious rate stress attached to it. We will also be
entering the earnings warning season again as well as the
year end portfolio rebalancing process. However, a rally
next week will have commentators talking about a Santa Claus
rally and that could offset the negatives and have retail
investors jumping back on the train. Remember, cash inflows
into mutual funds were near +$4 billion last week despite
all the scandal news and the shuffling of money into
different fund names. This is very bullish in light of
the conditions.

I keep telling you to watch the internals and despite the
terror threats and the -140 Dow drop for the week there
were still 275 new highs and only 36 new lows on Friday.
The entire week was down significantly with the new high
average about 300 per day, down from around 580 the prior
week, but still strong. Bottom line, until the Dow and
Nasdaq lose their grip on the 50 DMA we are just profit
taking. Should that grip fail the outlook could change
rapidly unless it is event related. Next support on the
Nasdaq is 1800 and 9500 on the Dow. Keep your fingers
crossed that there are no weekend events and look for a
relief bounce at the open on Monday. Should this work out
like I expect the bounce should run into resistance around
9700-9725. It may not be earth shaking but any rebound
after the week we had would be gladly accepted.

Most trading will take place on the first two days of
the week. Wednesday is a full day for the markets but
afternoon volume should be very light. Friday is a half
day and the markets close at 1:PM ET. Despite the
shortened week and the scarcity of traders the economic
calendar is more stuffed than Thursday's turkey. Monday
is a pass but Tuesday we have the GDP revision, Consumer
Confidence and Existing Home Sales. On Wednesday, with
most traders wanting to either leave early or not show
up at all there are no less than 13 economic reports.

Mortgage Applications
Jobless Claims
Consumer Comfort Index
Durable Goods
Personal Income
NY-NAPM
Consumer Sentiment
Chicago PMI
Help Wanted Index
New Home Sales
Monthly Mass Layoffs
ECRI Weekly Leading Index
Fed Beige Book

They have taken all the reports for the rest of the week
and lumped them all into one day. If traders do show up
at work the economics will be over by 10:30 with only the
Beige Book in the afternoon. Despite the low volume the
Wednesday before and Friday after Thanksgiving have
produced some upside surprises in the past.

There are only 26 trading days left in the year and we
are almost equal distance between Dow 9000 and 10,000 and
analysts are almost equally divided on which one will be
touched first. The economics on Wednesday along with the
ISM and Jobs the following week should provide the
direction for the rest of the year. Let's hope those
reports have not changed direction since last month.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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


McKesson Corp. - MCK - close: 28.26 change: -0.51 stop: 30.30

Company Description:
McKesson Corporation provides supply, information and care
management products and services designed to reduce costs and
improve quality across the healthcare industry.  The company
conducts its business through three segments. Through the
Pharmaceutical Solutions segment, MCK distributes ethical and
proprietary drugs and health and beauty care products throughout
North America.  The company also provides patient and payor
services in the United States through this segment. The Medical-
Surgical Solutions segment distributes medical-surgical supplies
and equipment, and provides logistics and related services within
the United States.  MCK's Information Solutions segment delivers
enterprise-wide patient care, clinical, financial, supply chain,
managed care and strategic management software solutions, as well
as outsourcing and other services, to healthcare organizations
throughout North America, certain European countries and the
United Kingdom.

Why we like it:
Along with the rest of the market, MCK had an impressive rally
off the spring lows, rapidly reaching a peak near $37 in mid-
June.  It has been all downhill from there, and the stock has now
given back most of its spring gains.  On the way up, MCK had a
period of consolidation in the $28.00-29.50 area and that zone
has been providing support over the past couple weeks.  But
Friday's sharp drop to close at new 5-month lows has price right
on the verge of another breakdown.  Once MCK drops below $28, it
could be a quick trip down to $25, as that late-April gap is just
begging to be filled in.  Friday's strong volume (more than
double the ADV) hints that this breakdown could occur soon.

The PnF chart supports an even more bearish case, as it is on a
Sell signal and in a column of O's with a tentative bearish price
target of $21.  Of course, the bullish support line at $26 has
the potential to provide initial support, so we'll need to keep
that in mind.  To avoid the risk of entering new positions just
above a bounce from support, we'll use a trigger of $28.  The
best entry scenario will be to initiate new positions on the
initial break, although more cautious traders may be able to
enter on a subsequent failed bounce below $29.  While we're
targeting the $25 level, more conservative traders may want to
harvest partial gains near $26 to avoid the risk of a bounce from
that PnF bullish support line.  Place stops initially at $30.30,
just over the most recent failed bounce and solidly above the 20-
dma ($29.51) which should now be firm resistance.

Annotated Chart of MCK:


Picked on November 23rd at  $28.26
Change since picked          +0.00
Earnings Date              1/22/03 (unconfirmed)
Average Daily Volume =    1.71 mln





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


Event Risk
- J. Brown

Economic recovery, expansion, corporate earnings and jobs have
been the main concerns influencing investor sentiment for months.
Now an old foe has risen again and investors have to readjust
their risk management and style to consider the possibility of
terrorism.

It has been more than two years since the 9/11 attack on America.
We've seen the creation of the Department of Homeland Defense.
We've been witness to both a war in Afghanistan and Iraq.
Television has brought us numerous reports of terrorist bombings
across the world.  Yet so far there has not been another "event"
on our home soil.

A couple of weeks ago major news media shied away from a new
threat that terrorists would strike the U.S. during the holy
month of Ramadan.  Maybe they didn't want to lend credence to the
threat by airing it but word got around anyway.  The two recent
bombings in Turkey suddenly refocused our attention on a possible
attack here at home.  The U.S. government has asked citizens to
be extra alert this weekend as we near the end of Ramadan this
Tuesday.

Some of you might be thinking "enough already, how does this
apply to the stock market?"  Fair enough.  Terrorism concerns
have been hampering an already weak dollar, which hit all time
lows against the euro and new five year lows against the yen this
last week.  As the dollar falls some investors have chosen to
hedge their bets by buying gold, which has been flirting with
$400 an ounce.  There has been a pick up in bonds as some choose
to move money to the perceived safety of U.S. debt (at least
safer than stocks).  The recent threat last weekend from Al Qaeda
about bombing Tokyo should Japan send troops to Iraq sent the
NIKKEI reeling.

If an event does occur here at home there won't be a rush to the
exits.  It will be a stampede and plenty of investors will get
hurt.  Countless funds and money managers are looking at very
good gains this year after three years of losses and they'll do
whatever they can to try and lock in those gains.  This concern
about locking in gains could easily keep the markets in a
sideways trading range.  There is nothing to inspire buyers to
chase stocks higher when they're too focused on avoiding losses
through the year-end.

That's not to say that some stocks won't maintain their bullish
trajectories but the rally may narrow as we head into what has
been traditionally one of the most bullish seasons of the year.

Hopefully, the Islamic month of Ramadan ends peacefully and Wall
Street can do its best to stir up a good old-fashioned Santa
Claus rally.


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

Market Averages

DJIA ($INDU)

52-week High:  9903
52-week Low :  7197
Current     :  9628

Moving Averages:
(Simple)

 10-dma: 9722
 50-dma: 9656
200-dma: 8949

S&P 500 ($SPX)

52-week High: 1063
52-week Low :  768
Current     : 1035

Moving Averages:
(Simple)

 10-dma: 1045
 50-dma: 1036
200-dma:  961

Nasdaq-100 ($NDX)

52-week High: 1453
52-week Low :  795
Current     : 1373

Moving Averages:
(Simple)

 10-dma: 1398
 50-dma: 1390
200-dma: 1219


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

The surge in amount and premium for put buying appeared to falter
on Friday as the VIX and VXO both pulled back from the 20 level.
Together they are still at extremely low readings, which suggests
the markets are vulnerable.  However, it would not surprise us to
see the markets bounce higher again and send the volatility
indices back toward their recent extremes.

CBOE Market Volatility Index (VIX) = 18.98 -0.50
CBOE Mkt Volatility old VIX  (VXO) = 19.61 -0.59
Nasdaq Volatility Index (VXN)      = 29.08 -1.41


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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.80        856,787       689,308
Equity Only    0.66        693,747       461,316
OEX            1.15         59,472        68,207
QQQ            1.01         46,942        47,295


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

Bullish Percent Data

           Current   Change   Status
NYSE          72.5    + 0     Bull Confirmed
NASDAQ-100    68.0    - 1     Bear Confirmed
Dow Indust.   80.0    + 0     Bull Correction
S&P 500       78.8    + 0     Bull Confirmed
S&P 100       78.0    + 0     Bull Correction


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

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


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

 5-dma: 1.41
10-dma: 1.27
21-dma: 1.15
55-dma: 1.16


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    1711      1657
Decliners    1088      1356

New Highs     123       104
New Lows       22        15

Up Volume    838M      888M
Down Vol.    618M      662M

Total Vol.  1489M     1594M
M = millions


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

Commitments Of Traders Report: 11/18/03

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

Will it never end?  The commercial traders refuse to move any
positions or make any more big bets in the full S&P futures
contracts.  They've been oscillating in the current range for
weeks.  Small traders have bumped up both their short and long
positions but they remain relatively equidistance from each other.


Commercials   Long      Short      Net     % Of OI
10/28/03      391,596   412,498   (20,902)   (2.6%)
11/04/03      391,079   415,136   (24,057)   (3.0%)
11/11/03      389,965   415,259   (25,294)   (3.1%)
11/18/03      393,893   414,442   (20,549)   (2.5%)

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
10/28/03      137,791    76,791    61,000    28.4%
11/04/03      137,829    78,206    59,623    27.6%
11/11/03      136,072    74,249    61,823    29.4%
11/18/03      147,842    80,047    67,795    29.7%

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

The e-minis are seeing some action.  Commercials upped their
short positions but not by too much.  Small traders also
raised their short positions by 10K contracts (almost 20% of
outstanding shorts).


Commercials   Long      Short      Net     % Of OI
10/28/03      220,171   260,644    (40,473)  ( 8.4%)
11/04/03      242,409   270,785    (28,376)  ( 5.5%)
11/11/03      249,864   258,503    ( 8,639)  ( 1.7%)
11/18/03      249,286   264,083    (14,797)  ( 2.9%)

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
10/28/03      123,569    59,742    63,827    34.8%
11/04/03      135,525    63,006    72,519    36.5%
11/11/03       94,649    51,815    42,834    29.2%
11/18/03       95,119    61,975    33,144    21.1%

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


NASDAQ-100

Commercial traders are still stuck in limbo with outstanding
longs and shorts in NDX futures barely budging the last few
weeks.  Meanwhile small traders have turned more bullish with
a nice jump in outstanding long positions.


Commercials   Long      Short      Net     % of OI
10/28/03       36,168     46,272   (10,104) (12.3%)
11/04/03       34,159     48,293   (14,134) (17.1%)
11/11/03       35,889     49,201   (13,312) (15.6%)
11/18/03       35,608     49,689   (14,081) (16.5%)

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

Small Traders  Long     Short      Net     % of OI
10/28/03       21,640     8,830    12,810    42.0%
11/04/03       24,132     9,703    14,429    42.6%
11/11/03       26,212    10,730    15,482    41.9%
11/18/03       32,034    10,356    21,678    51.3%

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

Ditto here as well...commercials are not making any new big
bets and keeping the number of long and short contracts
relatively unchanged.  Small traders appeared to have scaled
back on longs and inched up their shorts.


Commercials   Long      Short      Net     % of OI
10/28/03       20,504    11,366    9,138      28.7%
11/04/03       21,756    11,903    9,853      29.3%
11/11/03       20,209    11,660    8,549      26.8%
11/18/03       20,746    11,080    9,666      30.4%

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
10/28/03        5,295     8,864   (3,569)   (25.2%)
11/04/03        5,099     9,160   (4,061)   (28.5%)
11/11/03        6,105     8,201   (2,096)   (14.7%)
11/18/03        5,655     8,607   (2,952)   (20.7%)

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          Weekend Edition 11-23-2003
                                                    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
  Bullish Play Updates:  ZBRA
  Closed Bullish Plays:  CTSH

Active Trader (Non-tech)
  New Bullish Plays:     FLIR, JCP
  New Bearish Plays:     MCK
  Bearish Play Updates:  PVN
  Closed Bearish Plays:  T

High Risk/Reward
  Bullish Play Updates:  HPC, JNPR, RAD, STLD
  Bearish Play Updates:  CYD, SLR, TRMS

Split Trader/Stock Splits
  Announcements:          MBFI


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

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

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


Zebra Tech - ZBRA - close: 60.14 change: +0.06  stop: 57.99

Thursday, ZBRA acquired Atlantek, a company that designs and
manufactures digital thermal printers used in digital photo
printing, and retransfer and security card printers.  ZBRA
suffered the fate of many acquiring companies, pulling back as
investors digest the impact of the purchase.

ZBRA's price rose high enough to trigger our play before that
pullback.  It didn't pull back far, however.  The moving averages
have risen between the current price and our $57.99 stop, ready
to support ZBRA if it should dip further.  For the last two
months, ZBRA has been finding support at its 30-dma, currently at
$58.59.  We suggest waiting on new entries until a climb above
last week's high.  Make sure such entries are confirmed by rising
volume.

Annotated Chart for ZBRA:


Picked on Nov 19 at  60.20
Change since picked: -0.06
Earnings Date:    10/23/04 (confirmed)
Average Daily Volume:  618 thousand




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

  --------------------
  Closed Bullish Plays
  --------------------

Cognizant Tech. - CTSH - cls: 43.82 chng: -1.20 stop: 43.50

After basing above the $44 level for more than 3 weeks, our CTSH
play was perfectly poised for another rebound from the bottom of
its channel.  Unfortunately, that's not the way it played out, as
the stock sold off on strong volume on Friday, breaking below the
30-dma for the first time since mid-August and then breaking down
out of the rising channel.  The stock did manage to bounce back a
bit at the end of the day, but by then the damage had been done,
with our $43.50 stop already violated.  Even if the stop hadn't
been hit though, we would have been looking to drop the play this
weekend after it broke and closed below the bottom of its multi-
month rising channel.  Any open positions should have been closed
out on the stop violation today, but for those of you still
hanging on, look to exit on any kind of rebound early next week.

Picked on November 12th at $46.86
Change since picked         -3.04
Earnings Date             1/20/04 (unconfirmed)
Average Daily Volume =   1.05 mln






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

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

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



FLIR Systems - FLIR - close: 38.84 change: -3.36 stop: 35.16

Company Description:
FLIR is engaged in the design, manufacture and marketing of
thermal imaging and stabilized camera systems for a wide variety
of commercial, industrial and government applications.  The
company's products are divided into two categories, which include
the thermography products and imaging products.  In the
Thermography division, FLIR manufactures products that are sold
to commercial, industrial, research and machine vision customers.
For industrial customers, FLIR has developed thermography systems
that feature accurate temperature measurement, storage and
analysis.  The Imaging division caters to military, law
enforcement, surveillance and security customers.

Why we like it:
It is amazing after all the bullish action in recent months, but
even when the broad market is undergoing a bout of profit taking,
there are still stocks trading not only at 52-week highs, but
all-time highs!  FLIR had a rough patch from August-late October
before launching sharply higher in response to the company's
strong earnings report, reaffirmation of Q4 estimates and
announcement of the acquisition of Indigo Systems.  Since then,
FLIR has been consolidating in a broad range between $30-33,
resting up for the next move.  That move got started on Friday,
with the stock breaking out to the upside and closing at a new
all-time high.  The recent trade at $33 generated another PnF Buy
signal and along with the current bullish vertical count of $40,
points to more bullish action ahead.

There should now be firm support near $32, as that former
resistance switches sides.  Not only that, but the 10-dma
($32.18) and 20-dma ($31.94) have converged at that level and are
moving higher.  That means a pullback and bounce from near $32
can be used for new entries.  We're hesitant to recommend
momentum entries at this point, as price ended solidly above the
upper Bollinger band on Friday, which suggests at least a mild
pullback before FLIR continues significantly higher.  We'll keep
our eye out for a bullish run that can take the stock up to that
$40 price target, but we'll use a less aggressive target of $38
for the play.  Set stops initially at $31, just below the 11/13
low.

Annotated Chart of FLIR:


Picked on November 23rd at  $33.90
Change since picked          +0.00
Earnings Date              1/21/03 (unconfirmed)
Average Daily Volume =       422 K



---

J.C. Penney Co. - JCP - close: 24.45  change: +0.89  stop: 22.95

Company Description:
J. C. Penney Corporation, Inc., the wholly-owned operating
subsidiary of the Company, is one of America's largest department
store, drugstore, catalog, and e-commerce retailers, employing
approximately 230,000 associates. As of October 25, 2003, it
operated 1,038 JCPenney department stores throughout the United
States, Puerto Rico, and Mexico, and 56 Renner department stores
in Brazil. Eckerd Corporation operated 2,735 drugstores
throughout the Southeast, Sunbelt, and Northeast regions of the
U.S. JCPenney Catalog, including e-commerce, is the nation's
largest catalog merchant of general merchandise. J. C. Penney
Corporation, Inc. is a contributor to JCPenney Afterschool Fund,
a charitable organization committed to providing children with
high quality after school programs to help them reach their full
potential. (Source:  Company Press Release)

Why We Like It:
When reporting earnings on November 11, JCP gave an upbeat
outlook for the holiday season.  Sales had already been boosted
by a colder-than-expected season.  Weakness at Eckerd, the drug
store chained owned by JCP, hurt profit, but comparisons of this
year's holiday season with last year's should prove favorable.
JCP may also divest itself of Eckerd, with CVS reportedly making
a bid for the drug store chain.

These fundamental may be behind the potential strength we see in
JCP's chart.  That strength includes a push above a long-term
descending trendline, a test of the new support offered by that
trendline, and then a break out of the bull flag pullback to that
support.  Friday's breakout moved the price above the 30-dma.
Oscillators look bullish, supporting the move higher.

JCP is on a P&F buy signal with an upside target of $45.00, but
we won't be sticking around that long.  We're targeting $28.50,
getting out just before a 2001 swing high.  Set a stop at $22.95,
just below the 50-dma and the long-term trendline.

Annotated Chart for JCP:


Picked on Nov 21 at  24.45
Change since picked: +0.00
Earnings Date:    11/11/03 (confirmed)
Average Daily Volume:  2.5 million




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


McKesson Corp. - MCK - close: 28.26 change: -0.51 stop: 30.30

Company Description:
McKesson Corporation provides supply, information and care
management products and services designed to reduce costs and
improve quality across the healthcare industry.  The company
conducts its business through three segments. Through the
Pharmaceutical Solutions segment, MCK distributes ethical and
proprietary drugs and health and beauty care products throughout
North America.  The company also provides patient and payor
services in the United States through this segment. The Medical-
Surgical Solutions segment distributes medical-surgical supplies
and equipment, and provides logistics and related services within
the United States.  MCK's Information Solutions segment delivers
enterprise-wide patient care, clinical, financial, supply chain,
managed care and strategic management software solutions, as well
as outsourcing and other services, to healthcare organizations
throughout North America, certain European countries and the
United Kingdom.

Why we like it:
Along with the rest of the market, MCK had an impressive rally
off the spring lows, rapidly reaching a peak near $37 in mid-
June.  It has been all downhill from there, and the stock has now
given back most of its spring gains.  On the way up, MCK had a
period of consolidation in the $28.00-29.50 area and that zone
has been providing support over the past couple weeks.  But
Friday's sharp drop to close at new 5-month lows has price right
on the verge of another breakdown.  Once MCK drops below $28, it
could be a quick trip down to $25, as that late-April gap is just
begging to be filled in.  Friday's strong volume (more than
double the ADV) hints that this breakdown could occur soon.

The PnF chart supports an even more bearish case, as it is on a
Sell signal and in a column of O's with a tentative bearish price
target of $21.  Of course, the bullish support line at $26 has
the potential to provide initial support, so we'll need to keep
that in mind.  To avoid the risk of entering new positions just
above a bounce from support, we'll use a trigger of $28.  The
best entry scenario will be to initiate new positions on the
initial break, although more cautious traders may be able to
enter on a subsequent failed bounce below $29.  While we're
targeting the $25 level, more conservative traders may want to
harvest partial gains near $26 to avoid the risk of a bounce from
that PnF bullish support line.  Place stops initially at $30.30,
just over the most recent failed bounce and solidly above the 20-
dma ($29.51) which should now be firm resistance.

Annotated Chart of MCK:


Picked on November 23rd at  $28.26
Change since picked          +0.00
Earnings Date              1/22/03 (unconfirmed)
Average Daily Volume =    1.71 mln





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

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

Providian Financ. - PVN - cls: 10.80 chng: +0.29 stop: 11.20

For all the weakness seen in the broad market last week, PVN sure
isn't showing the weakness we would have liked to see.  The stock
did adhere to our request early on for a breakdown under the
$10.85 support, but after dipping to test $10.00 as support, it
has rebounded right back to the initial breakdown price.  The
all-important question is whether this is a rebound that will
fail (and allow for new entries) or if the downward move has
already run its course.  With oscillators just starting to turn
up in bullish fashion, we could be in trouble here, but we're
going to take our cue from the actual price action.  The $11.00-
11.15 area should be strong resistance and it should be
reinforced early next week by the 20-dma ($11.21).  Aggressive
traders can consider new entries on a rollover below that
resistance level, but bear in mind that we now have a very tight
stop at $11.20.  That stop should be safe unless PVN truly has
reversed.  If our stop is hit, we'll know the downward move is
over, so make sure to adhere to those stops.

Picked on November 12th at $10.88
Change since picked         -0.08
Earnings Date             1/28/04 (unconfirmed)
Average Daily Volume =   2.92 mln






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

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



AT&T - T - close: 20.00  change: +0.90  stop: 20.05

We had suggested earlier in the week that play participants watch
for a break out of T's neutral triangle.  Since T had declined
before consolidating into that neutral triangle, technical
analysis suggested that it would likely break to the downside. 
Wrong.  T broke to the upside, and did so in a big way.  With T
only cents away from our stop, we think it’s time to close the
play.

What happened Friday?  A Lehman Brothers analyst spoiled our
setup, announcing that T would likely raise its dividend as much
as 30 percent and also probably repurchase as much as 15 percent
of its shares.  T climbed steadily throughout the day.  If the
day had extended thirty more minutes, it likely would have hit
our trigger.

T had already moved to the forefront in business news discussions
this week, and the Lehman news may have helped to change
sentiment at the time T appeared on the verge of breaking below
its 200-dma again.  T sued eBay, saying that the company’s PayPal
division violated a 1991 patent given to T.  The suit involves
electronic transactions that involve a third party, PayPal in
this case, and the measures taken to ensure that such
transactions remain secure and private.  However, that
development came earlier in the week and some think that eBay is
likely to successfully defend itself, so we don’t think the suit
had as much to do with the breakout as that analyst's comments. 

Picked on Oct 29 at  19.07
Change since picked: +0.93
Earnings Date:    10/21/03 (confirmed)
Average Daily Volume:  7.0 million





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

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

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


Hercules Inc. - HPC - close: 10.27 change: +0.10  stop: 9.99

We're still waiting for this play to trigger with a move to
$10.51.  Indicators look increasingly favorable for an upside
break and a 50 percent retracement of the recent decline, but HPC
needs to produce that upside break before those indicators reach
fully overbought levels.  If the break does not occur before
then, HPC will likely turn down again to test its 200-dma.

Since HPC provides specialty chemicals to companies in the paper
industry, we took a look at stocks such as IP, BOW, and WY.  Many
of those charts demonstrate characteristics similar to those on
HPC's chart, such as a steep fall and now a consolidation just
above the 200-dma.  IP, however, consolidates just below that
average.  Watch for a recovery in these paper stocks for signs
that HPC may recover, too, at least enough to bring the stock up
to our $10.95 target.

Annotated Chart for HPC:


Picked on Nov 14 at  10.36
Change since picked: -0.09
Earnings Date:    10/30/03 (confirmed)
Average Daily Volume:  864 thousand



---


Juniper Networks - JNPR - close: 17.42 change: +0.02 stop: 16.25

When we initiated coverage of JNPR on Wednesday, it looked like
the stock was ripe for a rebound from dual support at the bottom
of the rising channel (now $17.00) and the 50-dma ($17.19).  A
couple days have passed and very little price action has
transpired, with the stock holding just above $17, but not yet
able to mount a credible bounce.  In addition to the channel and
the 50-dma, JNPR has the lower Bollinger band ($16.86) rising to
provide support for that bounce.  A rebound from as low as $17.00
looks good for new entries ahead of our expected bounce, first to
the midline of the channel near $19 and then up to the top of the
channel, now at $20.75.  Risk in the play can be tightly
controlled with our stop set at $16.25, just under the 10/23
intraday low.

Picked on November 19th at  $17.69
Change since picked          -0.27
Earnings Date              1/08/03 (unconfirmed)
Average Daily Volume =    10.2 mln





----


Rite Aid - RAD - close: 5.96  change: 0.05 stop: 5.75

Performance was mixed among the drugstore company stocks on
Friday, with RAD and WAG gaining and hinting at a possible
bounce, but with CVS and LDG declining.  CVS's performance was
likely due to the announcement that it would possibly bid for
Eckerd.

While we wish the first bounce had happened sooner, we like RAD's
candle springing up after testing support, a potential reversal
signal.  RSI hooked up, too, sometimes a first but tentative sign
that a bounce is in order.  Stochastics also appear to slow their
decline, but it will probably take several more days of slight
gains or a day of more robust gains to produce a bullish kiss on
those stochastics or to turn MACD higher.  RAD did manage a close
above its 30-dma again, and all looks in place for it to spring
back up toward its recent highs.

This time, however, MACD needs to cooperate and move higher along
with the price.  Ordinarily, we would consider a pullback-and-
bounce entry to be a sound conservative entry, and some might
want to enter on a bounce back above the 10-dma if volume expands
with the breakout.  However, because of that bearish divergence
on the MACD and the dip below the 30-dma, some traders might
consider waiting for a momentum entry on a push above the recent
highs.

Annotated Chart for RAD:


Picked on Nov 05 at   5.95
Change since picked: +0.01
Earnings Date:    09/25/03 (confirmed)
Average Daily Volume:  3.5 million



----


Steel Dynamics - STLD - close: 19.02 change: -0.44  stop: 17.99

Friday the Norwegian government argued that it would impose a 30
percent tariff on imports of U.S. products if the U.S. did not
remove its steel tariffs.  Although the Dow Jones US Steel Index
($DJUSST) climbed, printing the second candle of potential
tweezer-bottom formation, the news hit STLD hard, sending it
temporarily below the recent support and the 21-dma. 

By the end of the day, STLD had recovered the 21-dma, but it
could not climb back above the long-term trendline it recently
broke.  The decline tugged RSI into a full bearish roll, although
it yet measures a rather neutral 50.19.  MACD made a bearish
cross, with the histogram now measuring values below zero, and
stochastics threaten to fall out of territory indicating
overbought conditions.  The good news is that despite the damage
to the outlook predicted by the oscillators, the pullback has
proven minimal.  Volume remained below the daily average on the
decline.

This may continue to be a volatile play due to the back-and-forth
negotiations concerning the steel tariffs.  The negative impact
of those negotiations combats the positive impact of a predicted
worldwide steel shortage.  Since the decline took STLD below
$19.00, if only temporarily, we would suggest new entries only on
a momentum breakout above the November high.

Annotated Chart for STLD:


Picked on Nov 12 at  19.78
Change since picked: -0.76
Earnings Date:    10/22/03 (confirmed)
Average Daily Volume:  359 thousand




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


China Yuchai Intl - CYD - close: 25.75 change: +0.19 stop: 29.01

Trading about one-third its average daily volume, CYD produced a
spinning-top candle at support, a sign of indecision.  That
hesitation was enough to hook up the RSI, however, and we suspect
that CYD may climb within its "b" distribution formation, perhaps
up to $28.00, before it finally rolls down and breaks through the
bottom of that formation.  MACD and stochastics remain bearish,
but the MACD histogram displays a slight tendency to curve up
toward less negative values.  We're willing to give it a little
more time to rise and perhaps dissipate some of the oversold
pressure before it rolls down again and moves through our
trigger.

Annotated Chart for CYD:


Picked on Nov 19 at  26.55
Change since picked: +1.20
Earnings Date:    03/25/03 (confirmed)
Average Daily Volume:  4.0 million



---


Solectron Corp. - SLR - close: 5.40 change: +0.02 Stop: 5.85*new*

Expiration Friday certainly didn't provide any tradable action in
SLR, with the stock confined to a range of only 8 cents!  That
obviously didn't do anything in the way of providing clarity for
next week, so the action plan remains the same.  Failed bounces
below $5.60 resistance look like the best way to play, and that
resistance is getting firmer by the day, with the 10-dma falling
to $5.59 and the 20-dma now at $5.67.  After consolidating for
the past four days, SLR has lost any momentum that it had before,
but we could be seeing a narrow continuation flag building.  If
that flag breaks to the downside, we can look for a similar sized
move ($6.00-5.25) after the break of $5.25, leading the stock
down to our $4.50 price target.  There is likely to be some
support found near the $5.00 level, so entries on failed bounces
look more favorable than attempting to enter on the break below
support.  Lower stops to $5.85, just above the 30-dma ($5.84).

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: 22.82 chng: +1.42 stop: 23.40

Volatility anyone?  After more than a week of steady downward
progress, TRMS was due for a rebound.  But the violent gyrations
over the past two days were a bit more than we expected.  On
Thursday, TRMS dipped as low as $21 at the open (a great exit for
those nimble enough to grab it) before launching as high as
$22.87 and then plunging back to close near the low of the day.
That rollover made for a great entry if you snapped it up quickly
before the nearly 7% afternoon plunge.  Traders were greeted with
an equally impressive rally throughout the day on Friday, with
the stock ending near Thursday's highs on volume 50% above the
ADV.  This bounce was more than we bargained for and now TRMS has
solidly broken out of its short-term descending channel.  That
spells potential trouble for the bears and it appears the only
thing keeping Friday's rally in check was the $23 resistance
(former support) and the 10-dma ($23.23).  If TRMS breaks through
that resistance early next week, then we'll know the jig is up
and our $23.50 stop will take us out of the play near break-even.
On the other hand, a rollover below the 10-dma can be used for
new aggressive entries in anticipation of our $20 price target
being reached.

Picked on November 16th at $23.20
Change since picked         -0.38
Earnings Date            10/15/03 (confirmed)
Average Daily Volume =      629 K




=================================================================
Stock Splits
=================================================================

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


MBFI announces first stock split

During today's trading session, MB Financial, Inc. (NASDAQ:MBFI)
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 December 19th,
2003 to shareholders on record December 5th.  Following the stock
split, MBFI will have 26.7 million shares outstanding.  This would
be MBFI's first split since being listed on the NASDAQ in 1999.


About the company:
MB Financial Bank (www.mbfinancial.com) is a locally operated
financial institution, which has been delivering competitive
personalized service for more than 90 years to privately-owned,
middle-market companies as well as to individuals who live and
work in the Chicago metropolitan area.
(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.
PremierInvestor.net Newsletter          Weekend Edition 11-23-2003
                                                    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 24, 2003
   - Major Earnings
   - Stock Splits
   - Economic Reports

Trading Ideas
   - Trading ideas will return on Monday -

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

==========================================
Market Watch for the week of November 24th
==========================================

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


Symbol  Company               Date           Comment      EPS Est

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

CPB    Campbell Soup         Mon, Nov 24  -----N/A-----     0.49
DY     Dycom Industries      Mon, Nov 24  After the Bell    0.25
SMTC   Semtech               Mon, Nov 24  After the Bell    0.11
VAL    Valspar               Mon, Nov 24  Before the Bell   0.73


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

ADI    Analog Devices Inc.   Tue, Nov 18  After the Bell    0.23
BMO    Bank Of Montreal      Tue, Nov 25  -----N/A-----      N/A
BFb    Brown-Forman Corp     Tue, Nov 25  Before the Bell   1.39
DE     Deere & Company       Tue, Nov 25  Before the Bell   0.18
DLTR   Dollar Tree Stores    Tue, Nov 25  After the Bell    0.31
EV     Eaton Vance Corp.     Tue, Nov 25  Before the Bell   0.43
HRB    H&R Block, Inc.       Tue, Nov 25  After the Bell   -0.06
HNZ    H.J. Heinz Company    Tue, Nov 25  Before the Bell   0.54
HUG    Hughes Supply         Tue, Nov 25  After the Bell    0.75
KWD    Kellwood Company      Tue, Nov 25  1:00 pm ET        1.07
MIK    Michaels Stores       Tue, Nov 25  After the Bell    0.48
NPSN   NASPERS LTD           Tue, Nov 25  Before the Bell    N/A
RY     ROYAL BK CDA MONTREAL Tue, Nov 25  -----N/A-----      N/A
SIGY   Signet Group          Tue, Nov 25  07:00 am ET        N/A
TECD   Tech Data Corporation Tue, Nov 25  After the Bell    0.43


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

BCM    Canadian Impl Bank ComWed, Nov 26  Before the Bell    N/A
OTE  Hellenic Telecomm       Wed, Nov 26  Before the Bell    N/A
HRL  Hormel Foods CorporationWed, Nov 26  Before the Bell   0.49
AHO  Koninklijke Ahold NV    Wed, Nov 26  -----N/A-----      N/A
TD  Toronto Dominion Bank    Wed, Nov 26  -----N/A-----      N/A


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

None


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

None


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

Symbol  Co Name              Ratio    Payable     Executable

DIOD    Diodes Inc                3:2      Nov  25th   Nov  26th
JAH     Jarden Corporation        3:2      Nov  26th   Nov  27th
MFLR    Myflwr Co-operative Bank  3:2      Nov  28th   Dec   1st
LABL    Multi-Color Corporation   3:2      Nov  30th   Nov  31st
NFI     NovaStar Financial, Inc   2:1      Dec   1st   Dec   2nd
MMSI    Merit Medical Systems Inc 4:3      Dec   2nd   Dec   3rd
MRTN    Marten Transport, Ltd     3:2      Dec   5th   Dec   8th
CRRC    Courier Corporation       3:2      Dec   5th   Dec   8th


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

The Thanksgiving holiday is Thursday and Wall Street has a lot of
economic reports to digest both Tuesday and Wednesday.  GDP,
consumer confidence, personal income & spending, durable orders
and more.


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

----------------
Monday, 11/24/03
----------------
None


-----------------
Tuesday, 11/25/03
-----------------
GDP-Prel. (BB)           Q3  Forecast:    7.3%  Previous:     7.2%
Chain Deflator Prel.(BB) Q3  Forecast:    1.7%  Previous:     1.7%
Consumer Confidence (DM)Nov  Forecast:    82.8  Previous:     81.1
Existing Home Sales (DM)Nov  Forecast:   6.50M  Previous:    6.69M


-------------------
Wednesday, 11/26/03
-------------------
Initial Claims (BB)   11/22  Forecast:     N/A  Previous:     355K
Personal Income (BB)    Oct  Forecast:    0.3%  Previous:     0.3%
Personal Spending (BB)  Oct  Forecast:    0.0%  Previous:    -0.3%
Durable Orders (BB)     Oct  Forecast:    0.5%  Previous:     0.8%
Mich Sentiment-Rev (DM) Nov  Forecast:     N/A  Previous:     93.5
Help-Wanted Index (DM)  Oct  Forecast:      38  Previous:       37
New Home Sales (DM)     Oct  Forecast:   1133K  Previous:    1145K
Chicago PMI (DM)        Nov  Forecast:    56.5  Previous:     55.0
Fed's Beige Book (DM)

------------------
Thursday, 11/27/03
------------------
None


----------------
Friday, 11/28/03
----------------
None


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




======================================================
  Trading Ideas
======================================================

 - Trading ideas will return on Monday -



=================================================================
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.

DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

To ensure you continue to receive email from Option Investor please add "support@optioninvestor.com"

Option Investor Inc
PO Box 630350
Littleton, CO 80163

E-Mail Format Newsletter Archives