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Daily Newsletter, Tuesday, 12/30/2003

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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




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




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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
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staff makes every effort to provide timely information to its
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factors beyond our control.

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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



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