PremierInvestor.net Newsletter Tuesday 12-30-2003 section 1 of 2 Copyright 2003, All rights reserved. Redistribution in any form is strictly prohibited. The entire newsletter is best viewed in COURIER 10 for alignment ================================================================= In section one: Market Wrap: Going Out at the Top! Watch List: A, CD, MHP, AET and more! Market Sentiment: The NASDAQ Holds Its Gains ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 12-30-2003 High Low Volume Advance/Decline DJIA 10425.04 - 25.00 10456.07 10405.85 1.23 bln 1796/1331 NASDAQ 2009.88 + 3.40 2010.13 1997.82 1.52 bln 1759/1471 S&P 100 549.07 - 0.16 549.56 547.75 Totals 3555/2802 S&P 500 1109.64 + 0.16 1109.75 1106.41 W5000 10799.44 + 6.80 10799.44 10764.22 RUS 2000 565.47 + 1.59 565.47 562.13 DJ TRANS 3021.95 - 16.20 3037.66 3012.62 VIX 17.69 + 0.60 17.97 17.20 VXO (VIX-O)16.97 + 0.93 17.04 16.46 VXN 23.36 - 0.37 24.18 23.36 Total Volume 2,996M Total UpVol 1,676M Total DnVol 1,211M 52wk Highs 1052 52wk Lows 1118 TRIN 1.06 NAZTRIN 0.66 PUT/CALL 0.59 ================================================================= =========== Market Wrap =========== Going Out at the Top! A combination of factors produced a strong Monday rally to new 52-week highs and the markets held the high ground on Tuesday. Profit taking was limited to some consolidation but no real selling despite a triple dose of weaker than expected economic reports. The Nasdaq managed to add +3 points while the Dow gave up -24. The SPX/OEX both ended within .16 of unchanged. An end of day buy program in the Russell overcame a sell program 30 min earlier to push that index back into positive territory as well. Dow Chart Nasdaq Chart Those weaker than expected economic reports were led by the Chicago PMI at 59.2 and below consensus at 61.3. The headline number for November was 64.1 making December's drop to 59.2 significant. This is still well above the 51.2 for September and low for the last eight months. Manufacturing is still expanding but this could be showing a cooling off period from the faster pre holiday pace. New Orders fell to 65.5 from 73.3 and Back Orders fell to 50.8 from 59.6. Inventory levels continue to fall at 40.6 indicating no willingness to stock up on products. This shows no conviction that the recovery has legs. Overall this was a positive report but one that will be watched closely in January for further signs of weakness. Taken alone this drop is not material but when seen in combination with the -3.1% drop in Durable Goods Orders last Wednesday it could be spelling trouble for the future. Consumer Confidence fell to 91.3 and was weaker than the consensus estimates of 93.5. This echoes the fall in the Michigan Sentiment last week. The present conditions component was the critical element dragging the index down. It dropped from 81.0 to 73.9 while the expectations component rose to 102.9 from 100.1. Continuing unemployment was blamed as the reason for the drop in sentiment. The survey was taken before the heightened terror alerts so that should not have been a factor. Also, the capture of Saddam should have given the index a lift. I wonder where it would have been without the Saddam capture. The most likely reason for the dip was a money shortage during the shopping season. Consumers with jobs are conserving and the nearly nine million still without jobs are rationing funds. Tough to spread holiday cheer without discretionary funds in your pocket. Existing Home Sales also fell significantly at -4.6% to 6.06 million units. This was a drop from the 6.35 level in Oct and the 6.68 record pace in September. The continued low mortgage rates are helping to maintain the six million plus levels but the recent rate blip has definitely slowed the sales pace. Cold weather also helped slow the trend as blizzards tend to retard the shopping process. This dip is likely a seasonal fade that will pick up again in the spring. We already know that building permits are at record levels and inventory of finished houses will be huge in the spring. As long as interest rates remain low the stage is set for a banner year for new home builders and existing home sales. All we need is for the economic recovery to hold its gains for one more quarter and supply the confidence needed for consumers to make the purchases. Talking heads on TV failed to mention the gains in the NAPM NY Report to 242.6 from 227.3 in November. This was the 4th straight monthly gain and the six month outlook jumped from 57.4 to a whopping 90.0. Current conditions jumped to 80.7 from 51.9. Purchasing managers are becoming increasingly optimistic about 2004 which should be a leading indicator for the manufacturing sector. The NY area is recovering from its recession but is still a fragile economy. Should the New Years celebration pass successfully we could see a collective sigh of relief and a surge in conditions for the area. The Weekly Chain Store Sales showed a +2.0% bounce for last week but the numbers were not enough to overcome a slow start for December. Target said the week was strong but said sales for the month would come in at the low end of guidance. This was nearly identical to the Wal-Mart press release last week. Post holiday crowds are reportedly strong as shoppers hunt for bargains. Micron may be about ready to admit it conspired to fix prices on chips as part of an agreement with the Justice Dept to avoid prosecution. If MU does make the admission it is likely to implicate other companies in the conspiracy. Infineon, Hynix and Samsung are suspected. Rambus rose +13% today on speculation that Micron may be on the verge of settling with them on their long running court case. If MU settles it would set the stage for other companies to also settle. Seems like Micron is in the settling mood and hoping to go into 2004 with a clean slate. FedEx bought some copies on Tuesday, a lot of them. They acquired Kinkos for $2.4 billion in cash in an effort to offset the competitive edge UPS got from acquiring Mail Boxes Etc last year. UPS picked up 3300 outlets in the US with the purchase. FDX picked up 1100 Kinkos around the world with plans on making them into shipping centers as well as business centers. We had been talking about a potential FDX move in the office when we were putting together the Top-50 Stocks for 2004 list. I expected FDX to make an acquisition play but Kinkos never crossed my mind. I think it was a good move on their part. UPS sells for almost twice the value as FDX and I think this will help FDX bridge that gap. I ended up not picking FDX as one of the Top-50 Stocks because of the rising oil prices and concerns about terrorists and cargo aircraft. Santa brought a bag of presents to traders with the indexes breaking out to new highs on Monday. According to historic trends we could have a couple more bullish days ahead as retail traders filled with bullish holiday sentiment and holiday bonuses take advantage of the holidays to add to their 2004 portfolios. Historically this influx of cash will continue to provide bullish lift for the first 2-3 days of January. Opinions are seriously mixed once we hit January 6th. The Nasdaq held its ground above 2000 for the second day and the Dow held above 10400. Both are poised above recent resistance and could move higher. Odds are good they will not be taking a giant leap. The Dow 10450 resistance is closely followed by 10650 resistance and that one is very strong. The volume on Tuesday was light and Wednesday is expected to be even worse. Bulls need volume to make serious gains and odds are good it will be missing. The market internals are off the scale positive with new 52-week highs at 1118 on Monday and 1074 on Tuesday. New lows for both days totaled only 48. Despite the imbalances the advancers only beat decliners 4:3. This is typical of pauses at new highs. Everybody wants to buy the dip but few want to buy the top. Lately we have not had any dips and only in place consolidations. Sprint, pause, sprint, pause. Today was the pause and it remains to be see if tomorrow will make it out of the starting blocks. On Saturday Greenspan will give a speech on risks in the current monetary policy. This has the bond groupies in a head spin with the potential for good news/bad news. The equity market should only expect Greenspan to say good things and this could be priced into the market on Friday. Greenspan is not likely to say anything to derail the rally and force a change in the current rate environment. Monday was the last day of year-end window dressing for funds and Monday could be the first day of window stripping. The wild card here is the threat of terrorist activity over the New Years eve celebrations and the New Years day events. If nothing happens then buyers waiting for the all clear could pour cash into the market on Friday/Monday. Add in the normal year end retirement cash and the next few days could be bullish. Jim Brown ================================================================== WATCH LIST ================================================================== The PremierInvestor.net watch list is not designed to be read as full fledged stock picks. Rather we would prefer to offer it as an extra tool in today's investor toolbox. Think of it as a radar screen with your own radar operator pointing out interesting developments, technical patterns or potential plays that you may or may not have seen on your own. Due to time constraints we do glance at the news but rarely do we have time to fully read pertinent news stories, due background research and other necessary screens that investors should do before making a decision. A common exercise is to read the entry, glance at the sector and other stocks in that industry and then compare what's happening in the stock to what's happening in the broader market indices. We hope you enjoy the Watch List and that it proves to be a useful tool for your own trading success. STOCKS WORTH WATCHING --------------------------------- Agilent - A - close: 28.70 change: +0.11 WHAT TO WATCH: Having a truly impressive run over the past 10 months, shares of A have more than doubled and are showing no signs of weakness. In fact, today's closing price represents the stock's best close since May of 2002. As long as the pattern of higher lows persists, buying the dips back to support should prove profitable. Currently, the bottom of the channel at $27.00 looks like a solid entry. Target a rally towards the top of the channel, currently $31. --- Cendant - CD - close: 22.30 change: +0.17 WHAT TO WATCH: Fresh off a strong rebound from the 50-dma a couple weeks ago, shares of CD are right on the verge of breaking out to new multiyear highs. Use an entry trigger above $22.35 and target an initial move to $25 resistance. --- Mcgraw Hill Companies - MHP - close: 69.92 change: +0.66 WHAT TO WATCH: Proving that every area of the market is still seeing concerted buying, shares of publisher MHP broke out to new multi-year highs on Tuesday and with volume running right at the ADV (vs. the light volume in most of the market) this hints at more upside to come. The best entries will come on a pullback and rebound in the $68.50-69.00 area, although more conservative traders may want to wait for a breakout over $70 before playing. --- Aetna Inc. - AET - close: 67.94 change: +1.27 WHAT TO WATCH: Even Insurance stocks are looking strong lately and AET is looking good. After breaking back over the $66 level yesterday, the bulls tacked on nearly 2% on Tuesday, driving the stock near its all-time highs from this summer near $70. Ideal entries should be found on a pullback near $66, although there's certainly nothing wrong with a momentum trade for a rally to and hopefully through the $70 resistance zone. =================== On the RADAR Screen =================== BSC $79.81 - Brokerage stocks are on the rise again and BSC finally broke free of several months of resistance near $78.50. Look for entry on a slight pullback near that breakout level and hold for a rally back towards the all-time highs near $83. CI $56.99 - Clearly beaten down over the past year, CI is really trying to make a comeback and it lurking just below strong resistance at $60-61. After more than 2 months of consolidation after the strong move in late October, CI looks like it is ready to run. Look for entry in the $55-56 area and target a rally up to that strong resistance. MAC $44.21 - While price action in MAC may seem a bit jumpy, a quick look at the weekly chart shows the strength of its bullish trend over the past year. Consistently finding support on each brief pullback has made it a gold mine for the dip buyers. Target entry in the $43.00-43.50 area and look for a breakout to new all-time highs. =============================== Market Sentiment =============================== The NASDAQ Holds Its Gains - J. Brown Tuesday was a lackluster day for the markets. The general tone was bullish and there were plenty of new highs but covertly there was a sense of minor profit taking after Monday's big rally. Contributing to the mood were so-so economic reports. December's consumer confidence number slipped to 91.3 down from November's 92.5 and below estimates for a drop to 92.3. Chicago's PMI index fell to 59.2 from 64.1 in November. Plus the existing home sales report dropped an unexpected 4.6% to an annual pace of 6.06 million units. The existing home sales drop was a surprise but home sales remain strong. The report probably caused some indirect profit taking in the homebuilders, who fluctuate on the new home sales numbers not existing home sales numbers. The consumer confidence number was a disappointment as well but not a blow out. The raised terror threat level and the lingering concerns over the job market were just too much to keep confidence at its peak. Investors have nothing to complain about, despite the reports. The NASDAQ held on to its gains from Monday and its position above the 2000 mark. Year to date the NASDAQ is up a staggering 50% compared to a 25% gain in the DJIA and a 26% gain in the S&P 500. Coincidentally, the Japanese NIKKEI also closed the year with a gain of 26%. I'm not expecting much tomorrow with a half day for the markets and investors thinking about their New Year's Eve plans instead of last minute investments. Logically, at these levels profit taking would make the most sense but there may be a few nostalgic bulls hoping for the NASDAQ to close the year out above the 2000 mark. It is interesting to note that after research group IDC raised their 2004 semiconductor sales projections from 16% to 18% and Smith Barney raised their estimates for 2004 chip sales to 20% from 14% that the SOX actually lost ground today. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10450 52-week Low : 7416 Current : 10425 Moving Averages: (Simple) 10-dma: 10298 50-dma: 9896 200-dma: 9228 S&P 500 ($SPX) 52-week High: 1109 52-week Low : 788 Current : 1109 Moving Averages: (Simple) 10-dma: 1092 50-dma: 1059 200-dma: 990 Nasdaq-100 ($NDX) 52-week High: 1470 52-week Low : 795 Current : 1470 Moving Averages: (Simple) 10-dma: 1436 50-dma: 1415 200-dma: 1273 ----------------------------------------------------------------- Believe it or not the volatility indices (VXO and VIX) have managed to stage a short-term "rally" off their lows around the 18th of December. Yet they remain near historical lows and offer little help today. CBOE Market Volatility Index (VIX) = 17.68 +0.59 CBOE Mkt Volatility old VIX (VXO) = 16.97 +0.93 Nasdaq Volatility Index (VXN) = 23.36 -0.37 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.59 660,409 392,442 Equity Only 0.37 557,304 204,816 OEX 1.14 13,275 15,111 QQQ 1.48 22,126 32,675 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 76.4 + 1 Bull Confirmed NASDAQ-100 70.0 + 3 Bear Confirmed Dow Indust. 80.0 + 4 Bull Correction S&P 500 82.8 + 1 Bull Confirmed S&P 100 82.0 + 1 Bull Correction Bullish percent measures the number of stocks in an index currently trading on a buy signal on their point and figure chart. Readings above 70 are considered overbought, and readings below 30 are considered oversold. Bull Confirmed - Aggressively long Bull Alert - Cautiously long Bull Correction - Pause or pullback in upward trend Bear Alert - Take defensive action if long Bear Confirmed - High risk if long, good conditions for shorting Bear Correction - Pause or rebound in downtrend ----------------------------------------------------------------- 5-dma: 0.93 10-dma: 0.89 21-dma: 1.01 55-dma: 1.07 Extreme readings above 1.5 are bullish, and readings below .85 are bearish. These signals don't occur often and tend be early, but when they do, they can signal significant market turning points. ----------------------------------------------------------------- Market Internals -NYSE- -NASDAQ- Advancers 1632 1678 Decliners 1169 1405 New Highs 545 313 New Lows 11 2 Up Volume 651M 892M Down Vol. 528M 560M Total Vol. 1219M 1505M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 12/16/03 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 Finally! The commercials are finally putting some money to work and we're seeing strong increases in both long and short positions. New longs soared about 50K contracts while new shorts jumped about 40K contracts. Overall, commercials remain net short. Small traders have also increased their net short positions but remain net long. Commercials Long Short Net % Of OI 11/18/03 393,893 414,442 (20,549) (2.5%) 12/02/03 394,531 414,223 (19,692) (2.4%) 12/09/03 396,882 420,859 (23,977) (2.9%) 12/16/03 448,103 460,670 (12,567) (1.4%) 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 11/18/03 147,842 80,047 67,795 29.7% 12/02/03 154,788 85,776 69,012 28.7% 12/09/03 172,178 99,484 72,694 26.8% 12/16/03 172,947 113,704 59,243 20.7% 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 We are seeing the same surge of activity in the e-minis. Commercial traders opened another 35K long contracts but opened 72K new short contracts, tipping the scales from long to short. In contrast the retail traders reduced their shorts and opened another 35K longs. Commercials Long Short Net % Of OI 11/18/03 249,286 264,083 (14,797) (2.9%) 12/02/03 283,199 268,833 14,366 2.6% 12/09/03 294,006 288,385 5,621 1.0% 12/16/03 330,273 361,316 (31,043) (4.5%) Most bearish reading of the year: (354,835) - 06/17/03 Most bullish reading of the year: 133,299 - 09/02/03 Small Traders Long Short Net % of OI 11/18/03 95,119 61,975 33,144 21.1% 12/02/03 119,555 77,609 41,946 21.3% 12/09/03 142,173 76,171 66,002 30.2% 12/16/03 177,193 73,694 103,499 41.3% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Again, we're seeing new money from the commercial traders. NDX futures have seen a bump in net longs and net shorts from both professionals and small traders. Commercials remain net short and small traders remain net long. Commercials Long Short Net % of OI 11/18/03 35,608 49,689 (14,081) (16.5%) 12/02/03 35,569 48,552 (12,983) (15.4%) 12/09/03 39,612 51,443 (11,831) (13.0%) 12/16/03 61,343 73,153 (11,810) ( 8.8% Most bearish reading of the year: (21,858) - 08/26/03 Most bullish reading of the year: 9,068 - 06/11/02 Small Traders Long Short Net % of OI 11/18/03 32,034 10,356 21,678 51.3% 12/02/03 21,594 9,429 12,165 39.2% 12/09/03 25,842 10,228 15,614 43.3% 12/16/03 28,676 15,197 13,479 30.7% 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 Commercials are hedging their bets on the DJ futures. Both longs and shorts saw a bump of about 3K contracts each. Meanwhile, small traders have turned decidedly bearish. The surge of new shorts has produced the most bearish reading in the DJ futures since 2001. Commercials Long Short Net % of OI 11/18/03 20,746 11,080 9,666 30.4% 12/02/03 21,128 12,379 8,749 26.1% 12/09/03 20,378 11,934 8,444 26.1% 12/16/03 23,509 13,880 9,629 25.8% 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 11/18/03 5,655 8,607 (2,952) (20.7%) 12/02/03 6,667 9,302 (2,635) (16.5%) 12/09/03 6,858 12,006 (5,148) (27.3%) 12/16/03 9,497 19,633 (10,136) (34.8%) Most bearish reading of the year: (10,136) - 12/16/03 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 Tuesday 12-30-2003 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 ================================================================= Play of the Day: Another Rollover Stop Adjustments: None Trading Ideas Value Plays With Bullish Signals Breakout to Upside (Stocks $5 to $20) Breakout to Upside (Stocks over $20) Breakout to Downside (Stocks over $20) Recently Overbought With Bearish Signals (Stocks over $20) ================================================================= Play-of-the-Day (Bearish) =============== Netease.com - NTES - close: 37.00 change: -0.51 stop: 39.51 Company Description: NetEase.com, Inc. is a leading China-based Internet technology company that pioneered the development of applications, services and other technologies for the Internet in China. Our online communities and personalized premium services have established a large and stable user base for the NetEase Web sites which are operated by our affiliate. As of September 30, 2003 we had approximately 144 million accumulated registered accounts, and our average daily page views for the month ended September 30, 2003 exceeded 329 million. (Source: Company Press Release.) Why we like it: The planned or recent introduction of IPO's such as Tom.com and Ctrip.com (CTRP) has focused attention again on the performance of the Chinese Internet-related companies such as NTES, SINA, SOHU, and CHINA. All moved higher from their opening levels on Wednesday, including NTES. Particularly worrisome to this play is the fact that NTES rose after spending a few days testing the 50 percent retracement of this year's rally. That Fib level serves as a typical turnaround point in many reversals. Volume proved average for a holiday-shortened trading period. The rise was strong enough to turn RSI back up again, and stochastics made a bullish kiss from within territory indicating oversold conditions. Stochastics haven't yet been tugged out of that territory and MACD remains flat, but the turnaround at significant possible support can't be ignored, either. We've positioned our stop close overhead, so will be stopped out of this position quickly should NTES try to rise. Because our worries about that 50 percent retracement levels have been validated by the last week's trading, those seeking new entries should wait for a roll down below that level, setting a trigger just below Friday's $35.26 intraday low as a trigger for the entry. Why This is our Play of the Day Just as is the case in the rest of the market, volume in shares of NTES has been exceptionally light during this holiday lull. But amazingly, the stock continues to trade in a predictable manner, finding consistent resistance at the 10-ema (currently $37.92). After a brief foray above that average last Friday, the stock fell back below there and the weak price action (particularly yesterday) has the daily Stochastics (5,3,3) now giving a bearish cross and suggesting a decline to new recent lows. That rollover near $38.00-38.50 was a very clean entry point, and at this point, another failed rebound below that area can still be used to enter the play. Look for next support to be found near last Monday's intraday low just above $35, but that could be just as waypoint before lower levels are seen. Maintain stops at $39.51. Annotated Chart of NTES: Picked on December 10th at $38.96 Change since picked: -0.00 Earnings Date: 1/27/04 (confirmed) Average Daily Volume: 4.43 mln ================================================================= Stop Loss Adjustments ================================================================= None ================== Trading Ideas ================== This section contains stocks that meet criteria which may make them of interest to long and short side traders. These are not recommendations, nor have they been reviewed by PremierInvestor editors for investment potential. However, each of them has technical and fundamental characteristics that make them worthy of further review by traders and investors looking for fresh ideas. New stocks will appear daily following the market close. Value Plays With Bullish Signals --------------------------------- Ticker Company Name Close Change CVX ChevronTexaco 86.06 +0.56 VZ Verizon Communications 35.00 +0.68 KFT Kraft Foods Inc 32.25 +0.53 COP ConocoPhillips 65.38 +0.52 LEH Lehman Brothers 77.24 +0.89 MHP McGraw-Hill Co 69.92 +0.66 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- BYH Sinopec Beijing Yanhua Petro 19.95 +1.44 TTEC Teletech Holdings 11.71 +1.71 SCUR Secure Computing 17.10 +1.83 ENCY Encysive Pharmaceuticals 8.70 +1.31 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- INFY INfosys Technologies 93.51 +2.04 ROP Roper Industries 49.63 +1.11 JOYG Joy Global 26.64 +1.43 PETD Petroleum Development 25.05 +1.17 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- CEO CNOOC Ltd (ADR) 40.65 -1.90 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- ELAB Eon Labs Inc 50.87 -2.13 SY Sybase Inc 20.85 -1.25 NAFC Nash-Finch Co 22.88 -1.82 FRO Frontline Ltd (ADR) 25.64 -0.91 ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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