PremierInvestor.net Newsletter Wednesday 12-03-2003 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: Have We Made A Market Top? Trading Ideas Value Plays With Bullish Signals Breakout to Upside (Stocks $5 to $20) Breakout to Upside (Stocks over $20) Breakout to Downside (Stocks over $20) Recently Overbought With Bearish Signals (Stocks over $20) ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 12-03-2003 High Low Volume Advance/Decline DJIA 9873.42 + 19.78 9942.01 9851.42 1.65 bln 2168/ 694 NASDAQ 1960.25 - 19.82 2000.92 1960.13 1.80 bln 2041/1086 S&P 100 524.42 - 0.29 529.03 524.36 Totals 4209/1780 S&P 500 1064.73 - 1.89 1074.30 1064.63 RUS 2000 545.19 - 8.41 556.74 545.06 DJ TRANS 2939.51 + 3.15 2969.78 2936.48 VIX 16.63 + 0.36 16.68 15.77 VXO 16.41 - 0.12 16.41 15.84 VXN 27.34 + 0.62 27.34 26.25 Total Volume 4,364M Total UpVol 2,492M Total DnVol 2,492M 52wk Highs 898 52wk Lows 20 TRIN 1.10 PUT/CALL 0.71 ================================================================= =========== Market Wrap =========== Have We Made A Market Top? - Jane Fox The day started off with a bang that pushed all major indices to new 520week highs and the Nasdaq and DOW past psychologically important hurdles of 2000 and 9900 respectively. Unfortunately the selling overtook the buying late in the session and the only major index to end in the green was the DOW due to the General Motors (GM) and Merck (MRK). The sharp turn around we witnessed today this makes me wonder if we have reached a market top. With all the talk about overbought, overvalued and "the market needs a rest" one would be crazy to not at least think it could be a short-term top. chart of SPX daily: Only time will tell if we have reached this pinnacle but for me a market top would reveal itself very simply. I would need to see MACD make a lower low, below the 0 line as well as price make a lower low. Over at the DOW, you could almost here the champagne corks popping and the clear sparkling liquid flowing as the DOW made a daily high of 9942 breaching the all important psychological 9900 level. Unfortunately the party did not last for it was not able to hold on to those gains and closed at 9873. So was this a market top in the DOW also? We could repeat the same story here but with the caveat the DOW's MACD divergence is not as pronounced as it is in SPX. chart INDU daily: The champagne was not only flowing at the DOW by at the NASDAQ exchange also. For the first time in nearly two years the NASDAQ Composite broke above the 2,000 level, technically not an important number but psychologically very important. A lot of analysts are saying this level was breached because of continued strong economic data and positive comments made about technology bellwethers Oracle (ORCL) and Intel (INTC) but I think it is just a reflection of the underlying bid we have seen in the market lately. The NASDAQ actually reached 2001 at its intraday high, the highest level since mid-January 2002. Unfortunately the party did not last here either for the NAZ ended the day with a close of 1960, a 1.00% loss. Once again, have we witnessed a market top in the NASDAQ? chart NASDAQ daily: The story on the NASDAQ is identical to the SPX with a market top revealing itself when the MACD and price both make lower lows. And once again only time will tell for we have been fooled before and one cannot discount the normally bullish time frame we are in. It was a good news day for those of you who hold General Motors shares. GM gapped up this morning when an analyst went on record that the company's pension plan is looking much better and it could raise its 2004 earnings guidance. Critical of the automaker's pension problems in the past, analyst Gary Lapidus said the company is likely to announce some "really good news" about the plan on a conference call Dec. 12. GM closed up 5.22%. chart GM daily: The other stock that helped the DOW to close in the green was Merck's (MRK) whose share price closed up 2.66% after the company said it expects net income to be between $3.11 and $3.17 a share in 2004, up from between $2.90 and $2.95 this year. This forecast was based on higher sales of the osteoporosis pill Fosamax offsetting the loss of overseas sales of its No. 1 seller, the anticholesterol drug Zocor, due to expiration of foreign patents. Zocor loses U.S. patent protection in 2006 and is also up against stiff competition from two drugs, Lipitor and Crestor, often viewed as more powerful. chart MRK daily: Sector winners today were Morgan Stanley Cyclical Index ($CYC.X) + 0.43% and the Software index ($GSO.X) +0.29%, although there is an ominous head and shoulders forming on the GSO. chart GSO index daily: Sector losers were the Disk Drive Index (DDX.X) -3.68%, Airline Index (XAL.X) -2.78% and the Home Builders -1.92%. Moving onto market internals we saw a mixed bag today with declining issues outnumbering advancers by a 17 to 15 margin on the NYSE and by a 20 to 11 score on the Nasdaq exchange. The volume of stocks moving lower was 782 million shares on the Big Board and 1,237 million shares on the Nasdaq, vs. higher volume of 608 million shares and 943 million shares, respectively. New highs to new lows painted a much healthier picture with NYSE new highs clocking in at 472 to new lows of 8 and on the NAZ new highs were 299 to 10 new lows. The SEC has tentatively approved new rules for mutual-fund trades that would require all buy or sell mutual funds orders to be received at the company by 4:00ET PM in hopes this firm 4:00 closing will eliminate the potential for illegal late-trading. SEC chairman, William Donaldson says these new rules "will go a long way toward restoring investor confidence in these important investment vehicles." On the global front, China has surpassed Japan as the No. 2 petroleum user after the U.S. China oil imports for the first 10 months of 2003 are up 30% from the year-earlier period and are expected to double to some four million barrels a day by 2010. Some say China, which doesn't have large oil fields, might start competing with the U.S. for influence in the Middle East and trade weapons technology to terrorist states. On the other hand others think China will realize it has a vital interest in keeping the region stable. On the economic front, the ISM index of nonmanufacturing business fell to 60.1 in November from 64.7 in October, indicating that the service sector is still growing, but at a slower pace than it has been. This was the eighth consecutive month of growth in the sector; any number above 50 indicates growth. Meanwhile, U.S. workers were much more productive in the third quarter than previously thought, for nonfarm business productivity, a measure of the amount an employee produces per hour, grew at a seasonally adjusted annual rate of 9.4%, the strongest showing since the second quarter of 1983. On a year- over-year basis, the increase of 5% was the fastest rate in 53 years. The dollar failed to get a lift from upwardly revised US productivity number and remained soft after the release of weaker-than-expected service sector data. It weakened against most of other currencies hitting fresh lows against the euro for the fourth consecutive session. The 10-year Treasury note stood at 98 24/32, down 6/32 to yield 4.41%. The 30-year bond fell 12/32 to 102 27/32, yielding 5.18%. The five-year note was down 3/32 to 99 23/32, yielding 3.43%, while the three-year note was off 2/32 to 100 2/32, yielding 2.60%. The two-year note was down 1/32 to 99 19/32 to yield 2.08%. The only economic report out tomorrow is the weekly 8:30 release of initial claims where the market is looking for a slight increase to 354K from a prior of 351K. ================= Trading Ideas ================= This section contains stocks that meet criteria which may make them of interest to long and short side traders. These are not recommendations, nor have they been reviewed by PremierInvestor editors for investment potential. However, each of them has technical and fundamental characteristics that make them worthy of further review by traders and investors looking for fresh ideas. New stocks will appear daily following the market close. ------------------------------------------------------------------- Value Plays With Bullish Signals --------------------------------- PTR Petrochina Co Ltd 19.25 +1.38 TOT Total Sa (ADS) 83.51 +0.72 MRK Merck & Co 43.63 +1.13 BHP BHP Ltd 17.23 +0.51 ONE Bank One Corp 45.00 +0.80 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- BBI Blockbuster Inc 17.96 +1.02 PWER Power-One Inc 9.55 +1.22 AWIN Arch Woreless Inc 18.93 +1.28 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- DB Deutsche Bank Ag 75.80 +3.90 GM General Motors Corp 45.54 +2.26 GD General Dynamics Corp 83.45 +2.50 AKZOY AKZO Nobel Nv (ADR) 36.39 +1.19 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- IACI Interactivecorp 30.96 -1.10 KSS Kohl's Corp 45.29 -1.38 BBY Best Buy Co Inc 57.42 -1.10 CVS CVS Corp 34.90 -1.08 ERTS Electronic Arts Inc 42.27 -1.63 SNDK Sandisk Corp 71.90 -6.31 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- AMZN Amazon.com Inc 51.51 -2.42 STI Suntrust Banks Inc 70.63 -0.14 PNC PNC Financial Svcs Grp 53.72 -0.59 CVS CVS Corp 34.90 -1.08 XL XL Capital Ltd 73.61 -2.24 ================================================================= 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 12-03-2003 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 ================================================================= Tech Stocks New Bearish Plays: SLAB Bullish Play Updates: NXTL, ZBRA Active Trader (Non-tech) New Bearish Plays: TSG Bullish Play Updates: FLIR, JCP High Risk/Reward Bullish Play Updates: JNPR, RAD, SIRI Bearish Play Updates: FCEL ================================================================== Net Bulls (NB) Tech Stock section ================================================================== ========= NEW PLAYS ========= ----------------- New Bearish Plays ----------------- Silicon Labs. - SLAB - close: 46.55 change: -1.63 stop: 50.00 Company Description: Silicon Laboratories designs, manufactures and markets proprietary high-performance mixed-signal integrated circuits (ICs) for the wireless, wireline and optical communications industries. The company initially focused its efforts on developing ICs for the personal computer modem market and is now applying its mixed-signal and communications expertise to the development of ICs for other high growth communications devices, such as wireless telephones and optical network applications. Why we like it: There's no escaping the fact that the bullish tone in the markets really hasn't begun to crack. So if we're going to play the downside, we need to zero in on pockets of relative weakness. The Semiconductor index (SOX.X) has definitely been a source of relative strength, leading the NASDAQ to graze the 2000 level on Wednesday before the late-day reversal. The SOX stretched up to the $535 resistance level again before being sent sharply lower in the final two hours, losing 1.44% on the day. This could be the beginning of a significant rollover in the SOX, but we need to pick on a relatively weak stock in the sector until there are more concrete signs of weakness. SLAB fits that bill, having been in a persistent downtrend since late October. The stock seemed to find support near the $45 level in late November and staged a decent rebound. But the buyers ran out of gas just below $50 and SLAB rolled over just under the 20-dma (now at $49.51. The PnF chart went bearish in early November and the current bearish price target is $39, giving the stock room to fall. But in order to really get moving to the downside, the bears are first going to have to overcome support near $45.75, which is both the site of the ascending trendline from the 9/30 and 11/20 lows, as well as the 100-dma ($45.80). Additional support will be found at $45, which is the location of the PnF bullish support line. Once SLAB breaks these measures of support, it could be a swift trip down the charts, with next significant support coming in at $40 and then $38. There should now be strong resistance in the $47.50-48.50 area, so aggressive entries can be taken on a failed bounce below that zone. More conservative traders will need to wait for a break of the trendline or even a drop under $45 support before playing. We'll target a drop into the $39-40 area as our optimum exit point, while using an initial stop at $50, just over the top of last week's failed rally. Annotated Chart of SLAB: Picked on December 3rd at $46.55 Change since picked +0.00 Earnings Date 1/19/04 (unconfirmed) Average Daily Volume = 1.24 mln ============ PLAY UPDATES ============ -------------------- Bullish Play Updates -------------------- Nextel Comms - NXTL - close: 25.80 change: +0.25 stop: 24.00 Tracing out a nearly perfect doji candlestick on Wednesday, NXTL is clearly at an inflection point. While still holding well above its recent breakout over the $24.60 level, with daily Stochastics starting to roll over, it looks like it may be due for a bit of profit taking and consolidation. An orderly pullback into the $24.50-25.00 area should provide a solid entry on the rebound, with additional support coming from the 10-dma at $24.93. As we've been noting lately, NXTL has been due for some weakness or at least some consolidation, as the stock has been banging up against both the top of its rising channel and the upper Bollinger band. That should keep us focused on new entries on pullbacks to support. It won't be a fast-moving play, but NXTL still looks capable of moving up towards our $30 target. Maintain stops at $24, which is just under the 20-dma ($24.12). Picked on November 26th at $25.27 Change since picked +0.53 Earnings Date 1/15/04 (unconfirmed) Average Daily Volume = 17.0 mln --- Zebra Tech - ZBRA - close: 62.78 change: -0.22 stop: 59.98 Last Friday, ZBRA produced a small-bodied candle at the top of the current rise, with that type of candle sometimes being a reversal signal. We were glad when this week's trading pattern negated that reversal signal. ZBRA consolidated rather than reversed. Wednesday's doji, almost a gravestone doji, sometimes also serves as a reversal signal. Since this signal came during consolidation rather than at the top of a rise, it probably holds less significance. However, ZBRA's close slightly below the recently established consolidation zone may signal that ZBRA needs to drop back toward the rising 10-dma to find stronger support. MACD flattens but has not yet produced a bearish cross. RSI held up most of the day, but dipped lower near the close. Stochastics turned down, too, but did not roll completely out of territory indicating overbought conditions. A study of ZBRA's daily chart shows that prices sometimes consolidate sideways a few days before dropping down and re-establishing support at the 30-dma. ZBRA's climb this time has been so rapid that it's left the 30- dma behind at $59.72, but that average climbs rapidly toward the current price. Between ZBRA's current price and that 30-dma, we note horizontal support near $60.20, just below the rising 21- dma. Conservative traders might set their stops just below that average. We're cautious about new entries this close to our target, especially with Wednesday's late-day plunge in the markets, but aggressive traders could consider an entry on a dip to and bounce from the 21-dma. Verify first that volume contracts on the dip and expands on the bounce before considering such an entry. Annotated Chart for ZBRA: Picked on Nov 19 at 60.20 Change since picked: +2.58 Earnings Date: 10/23/04 (confirmed) Average Daily Volume: 618 thousand ================================================================== Stock Bottom / Active Trader (AT) section ================================================================== ========= NEW PLAYS ========= ----------------- New Bearish Plays ----------------- Sabre Hldgs - TSG - close: 19.92 change: -0.28 stop: 21.60 Company Description: Sabre Holdings Corporation (NYSE:TSG) is a world leader in travel commerce, retailing travel products and providing distribution and technology solutions for the travel industry. Why We Like It: Wednesday, Sabre Holdings announced that its chairman and CEO will leave to replace Betsy Bernard as president of AT&T. Sam Gilliland, CEO of Travelocity, owned by Sabre, will replace Hannigan as president and CEO of Sabre. Although S&P commented that the changeover would not affect its rating and outlook on the company, Sabre's investors weren't thrilled with the news. They sent Sabre below $20.00 and its October intraday low of $19.90. The decline came on stronger-than-average volume. Sabre's weakness actually began showing up earlier, in mid October when it produced a triple bottom breakdown on the P&F chart with a currently predicted downside target of $17.00. That downside target has not yet been completed because Sabre has not yet reversed into an X column. After producing that signal, Sabre bounced, but soon fell back beneath its 200-dma as well as beneath a host of other gathered moving averages. The $21.20 level shows up as important on the weekly chart, so Sabre's downturn from that level now seems significant. Play participants should expect some volatility as Sabre approaches $18.78, the top of a gap from April. A first bounce should probably be expected as Sabre plumbs that gap, down to $18.12. We'll be following Sabre's progress toward that gap with lowered stops, but we see $15.25 as our ultimate downside target. Annotated Chart for TSG: Picked on Dec 03 at 19.92 Change since picked: -0.00 Earnings Date: 10/23/03 (confirmed) Average Daily Volume: 727 thousand ============ PLAY UPDATES ============ -------------------- Bullish Play Updates -------------------- FLIR Systems - FLIR - close: 35.30 change: -0.03 stop: 33.00 Just like clockwork, shares of FLIR once again followed yesterday's breakout to new highs with a day of consolidation. Printing a near perfect doji, the stock pulled back from its intraday highs to end with a tiny fractional loss. So long as the pattern of higher lows and higher highs remains intact, FLIR looks fully capable of reaching our $38 target. Based on the recent trading pattern, entries should be taken on pullbacks near support in the $34.00-34.50 area, supported by the steadily rising 10-dma ($34.28). Since FLIR follows each breakout with a mild pullback/consolidation, entering on breakouts is not an advisable strategy. Maintain stops at $33, just below the rising 20-dma ($33.06). Picked on November 23rd at $33.90 Change since picked +1.40 Earnings Date 1/21/03 (unconfirmed) Average Daily Volume = 422 K --- J.C. Penney Co. - JCP - close: 25.36 change: +0.08 stop: 23.95 Although Monday's reports showed that the post-Thanksgiving shopping was not as strong as previously expected, JCP added to recent gains on Monday. Since then, it stalled and then headed down in Wednesday's trading, not participating in the early market gains. By the end of the day, JCP had regained its opening level, producing a doji, the classic sign of indecision. Even during that stall, JCP maintained recently established support at $25.00. The 10-dma now courses up just beneath that level, currently at $24.74, having made a bullish cross of the 30-dma late last week. Since mid-summer, such bullish crosses have usually signaled significant gains ahead, although JCP does sometimes cycle down to test the 30-dma again before resuming its climb. That 30-dma now crosses at $24.15. We do note that the important 30-dma has now flattened, perhaps signaling a loss in momentum. Oscillator evidence is mixed, with MACD still generally slanting up, but with RSI and stochastics flattening, one just below the level indicating overbought conditions and one just above. Due to JCP's pattern over the previous months, a stop near the 30-dma seems most logical, but some traders might find it more appropriate to set their stops at breakeven now that this play is profitable. With the expected strong holiday sales perhaps not materializing and with our target so near, we would not suggest new entries from this level and would be careful about pullback-and-bounce entries, too. The RLX, the S&P Retail Index, violated its 30-dma on Wednesday and now heads down to test its 50-dma. If a pullback-and-bounce on JCP should concur with an RLX bounce from its 50-dma, and if JCP's volume should expand on the bounce, such entries could be considered by aggressive traders. Annotated Chart for JCP: Picked on Nov 21 at 24.45 Change since picked: +0.91 Earnings Date: 11/11/03 (confirmed) Average Daily Volume: 2.5 million ================================================================== HIGH RISK/HIGH REWARD (HR) section ================================================================== ============ PLAY UPDATES ============ -------------------- Bullish Play Updates -------------------- Juniper Networks - JNPR - close: 17.97 change: -0.41 stop: 17.20 If there was any doubt as to the technical significance of the channel JNPR has been trading in, it should have been removed on Monday. The recent rebound ran into stiff resistance right at the midline of that channel (then at $19.10) and has been dropping sharply over the past couple days. It certainly appears that there will be another test of dual support at the bottom of the channel ($17.40) and 50-dma ($17.49). If there's still life in this bullish trend, then JNPR ought to see another strong rebound that finally propels it through the $19 level, setting up a rally towards the top of the channel, now at $21.15. On the other hand, if JNPR fails to rebound at support, we ought to have a crisp exit at our $17.20 stop, which is below the 50-dma, bottom of the channel and the low from the late-November dip. A renewed rebound from above the 50-dma can be used for fresh entries, but conservative traders will want to make sure the rebound comes on stronger volume than we've been seeing over the past week. Picked on November 19th at $17.69 Change since picked +0.28 Earnings Date 1/08/03 (unconfirmed) Average Daily Volume = 10.2 mln --- Rite Aid - RAD - close: 6.29 change: -0.02 stop: 5.75 Most drugstore company stocks fell in Wednesday's trading along with the RLX, the S&P Retail Index, but RAD held up better than competitors WAG and CVS. RAD also saw an upgrade to a buy rating from Jefferies and Company, perhaps resulting in that stronger relative performance. RAD's chart also shows that the stock jumped above the recent resistance in this week's trading. (Note: We've used a 720- minute chart for our commentary because a daily candle was missing on the daily chart.) Since that time, RAD has consolidated above that broken resistance, establishing that resistance as new support. MACD curves up gently, but other oscillator evidence proved mixed, as RSI hooked down, and the fast stochastics line turned down toward the other line. Moving averages slant up strongly, with several now above $6.00. The performance of other retailers concerns us, but as long as MACD continues to curve up, new positions might be added if RAD dips to and then bounces from that recently broken resistance, marked on the chart. Forego this new entry if dips are accompanied by larger-than-average volume. Annotated Chart for RAD: Picked on Nov 05 at 5.95 Change since picked: +0.34 Earnings Date: 09/25/03 (confirmed) Average Daily Volume: 3.5 million --- Sirius Satellite Radio - SIRI - cls: 2.11 chng: -0.07 stop: 1.95 After Monday's sharp upward gawp, we had the distinct feeling that SIRI was going to need to come back to fill in that gap and confirm support at the top of the bullish flag pattern. Sure enough, today's sharp pullback did just that, exactly filling in Monday's gap and coming within a couple pennies of touching both the top of the bull flag, which is right on top of the 10-dma ($2.05). The question we must ask is whether this is a pullback to confirm support or if the breakout on Monday was a bull trap. We'll let price action be our guide in that debate and as long as support holds at or above $2.00, then buying the dip looks like a winning strategy. We have the 10-dma, the top of the flag and $2.00 historical resistance-turned support all working in our favor. Aggressive traders can enter on a successful rebound from support, while those with a more conservative approach will need to wait for a rally above $2.25 (taking out today's intraday high) before playing. Maintain stops at $1.95. Picked on November 30th at $2.08 Change since picked +0.03 Earnings Date 1/28/04 (unconfirmed) Average Daily Volume = 49.8 mln -------------------- Bearish Play Updates -------------------- FuelCell Energy - FCEL - close: 13.55 change: +0.07 stop: 14.85 Wednesday, FCEL, Yale, and Connecticut Clean Energy Fund dedicated a fuel cell power plant near Yale University's Peabody Museum. About one-fourth of the building's electricity needs will be met by the power plant. Connecticut claims that it's a leader in fuel cell technology. Although FCEL closed higher, the day's candle was a gravestone doji that moved down from resistance. FCEL has been testing that resistance just above $14.00 for a week. FCEL managed a close just above its 10-dma, but otherwise showed no strength. Entries at the current level still look possible, but watch RSI, which turned up last week and has not yet turned down again. Annotated Chart for FCEL: Picked on Nov 28 at 13.46 Change since picked: +0.09 Earnings Date: 12/16/03 (unconfirmed) Average Daily Volume: 753 thousand ================================================================= 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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