PremierInvestor.net Newsletter Weekend Edition 01-06-2004 section 1 of 2 Copyright (c) 2004, 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: New Highs Once Again Watch List: CSCO, XRX, CCMP, FD and more! Market Sentiment: Patiently Waiting ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 01-06-2004 High Low Volume Advance/Decline DJIA 10538.66 - 5.41 10549.18 10499.85 1.95 bln 1688/1561 NASDAQ 2057.37 + 10.00 2061.54 2039.63 2.27 bln 1853/1406 S&P 100 557.75 + 0.44 558.11 555.53 Totals 3541/2967 S&P 500 1123.67 + 1.45 1124.46 1118.44 W5000 10925.16 + 18.80 10936.66 10876.18 RUS 2000 569.89 + 0.97 572.67 568.06 DJ TRANS 3037.26 + 8.60 3042.65 3012.66 VIX 16.73 + 0.76 17.67 16.19 VXO (VIX-O)15.34 - 1.37 16.78 15.07 VXN 22.76 - 1.13 24.21 22.69 Total Volume 4,473M Total UpVol 2,567M Total DnVol 1,837M 52wk Highs 1017 52wk Lows 13 TRIN 1.04 NAZTRIN 0.74 PUT/CALL 0.57 ================================================================= =========== Market Wrap =========== New Highs Once Again Bad news from Gateway failed to deter tech buyers and the Nasdaq rose to a new two-year high at 2061. It was just yesterday that semiconductor billings came in at the lowest level in three months. However, historical patterns of investors buying tech stocks to open the year appears to be over powering any negative tech news. Dow Chart - Daily Nasdaq Chart - Daily Tech news was not the only bad news dragging on the markets. The Weekly Chain Store Sales came in at -0.1% compared to last weeks +2.0%. Holidays are over and it appears shoppers are staying home. Colder weather in many states could have also prompted shoppers to watch football from the couch instead of blocking and tackling the malls. Good news was a projection that December could have been stronger than previously reported. Inventory levels are reported to be very low indicating that there was a last minute push and stores managed their inventory very well. However, low inventory levels will prevent strong sales in January. Considering most of those January sales are heavily discounted not having any inventory may not be a bad thing. I personally went to Target last weekend for some late holiday shopping and on a list of 20 items the individual had registered for at least 15 were sold out. Shelves were bare in places and in others they had spread out merchandise to 3-4 times the shelf space normally used in order to cover up the holes. Worse news for investors was the ISM Services Index. The headline number came in at 58.6, well below the 60.3 estimate and the lowest level in seven months. A 58 level still reflects an expanding services sector but at the lowest level since May it does not inspire confidence. New orders rose only slightly and employment fell slightly. Basically it was only a minor negative but with the strong market gains pricing in strong growth this was another hairline crack in the foundation. It was more of a talking point than a real worry but on a slow news day it was the sound bite we heard the most. The ISM services is normally a leading indicator for manufacturing. A drop in services could suggest a drop ahead in manufacturing. Far to soon to tell and could also just be a holiday blip. The Challenger Report showed that announced layoffs fell slightly in December by -6.5% to 93,020 workers. Typically companies make job cuts at year end to clean house before the new year begins. The 93K number would indicate that maybe the job cut cycle is fading and those normal job cuts were light. To put it in perspective the number for Dec-02 was also in the 93K level and it spiked significantly in Jan/Feb to 135K again. There were several analysts expecting a lower jobs number on Friday after the ISM and Challenger numbers. While we may have a lower than expected number I do not think you can make that link based on the figures released today. Employment components for other economic reports have been stronger and the timing of these reports and the Jobs survey is different. The bigger impact to the jobs number is the continued outsourcing of jobs overseas. Another weak number today was the Factory Orders which dropped -1.4% but this was a November number and is already priced into the market. Back orders did rise and inventories continued to fall. Eventually we are going to get to the point where we will have to trigger an inventory rebuild cycle or there will be an impact to earnings from nothing left to sell. Gateway led the list of earnings warnings this morning with an announcement that it could lose up to -15 cents after a very tough 4Q. They said they were hurt by aggressive price cutting by HPQ and Dell despite good sales in HDTV and digital cameras. Downgrades were the order of the day with both Dell and HPQ heading deeper into the consumer electronics business Gateway's competition is only going to increase. According to some analysts the 4Q was the best PC quarter since 2000 in terms of sales but margins could be the worst due to the price competition. PC models were heavily discounted by both manufacturers and retailers in order to move product and avoid left over inventory. Planar Systems warned last night that slowing sales of flat panel displays in its medical segment would lower its earnings. They said the consumer business was good and would offset some of the decline in the other segment but earnings would drop to 20-22 cents when analysts were for 28 cents. PLNR fell -18% in trading today. GTW and PLNR were joined by LLY, TWTR, HLWD, DAB and JDAS who also warned on Q4. Warning to the upside were CRDN on the strength of defense orders and SBUX on stronger than expected same store sales. GTRC also raised guidance on stronger than expected sales. TMRS was down on allegations they had tried to bury negative news on experimental drug T-1249. JDAS said they failed to close a number of deals previously expected. AMAT was upgraded by SG Cowen. Visteon was cut by Goldman. ANF was downgraded by Lehman. The HMO sector was downgraded by Goldman on worries that reimbursement payments would be lowered. The markets rallied to new highs but struggled in the process. The volume was much stronger with total shares nearly 4.5B. Internals were good but not great and advancers barely beat decliners across all markets. The Dow hit 10549, only 50 points away from really strong resistance. (Not that any resistance has mattered lately.) It took all day to recover from the opening dip and ISM depression before it hit positive territory and the new high. It was positive only briefly and closed down slightly at -5 points. 10500 was support most of the day and should be the critical level to watch the rest of the week. The Nasdaq was the hero with a +10 point gain to a 24-month closing high despite the bad tech news. The Nasdaq has been nearly vertical since hitting 1900 on Dec-10th. It is moving into a very strong resistance range between 2065-2100 and will find any further gains much tougher without any major news event. At the risk of sounding repetitious we are very overbought. We have followed the January pattern exactly and set new highs for the first three days of the year on the strength of the year end retirement cash flow. The market rose despite terror threats, earnings warnings and massive prior gains. Very impressive. However, and you knew there had to be a however, we are reaching very strong resistance levels and today was the last day of any material retirement cash inflows. Dow Daily Chart with ADX The Dow has gone from extreme to ridiculous. Using almost any indicator you like the overbought conditions are very evident. Using the ADX for example the current extremes on the Dow have not been seen since December 1996. Not even during the bubble years did the Dow reach these overbought levels. Considering the Dow has gained +950 points since the end of November without any material profit taking and the answer should be clear. The last time the Wilshire 5000 was this extreme was back in June of this year. Note the result. Wilshire 5000 Chart with ADX Those watching the market internals today saw a good example of distribution in progress. Volume was strong but advancers were only slightly better than decliners. The markets set new highs but only barely with minimal gains. A lot of stock was traded with little movement. To be fair this was the day after a very strong gain. Just closing flat is an accomplishment but it just did not feel that positive. With the normal January high set in the first five days of the month we are right there. This could have been the day. We could also see one more climax high tomorrow at the open. My target for the January high was 11000 on the Wilshire and we closed at 10925 today. Very close considering the magnitude of the numbers. I hate to be Chicken Little but trees do not grow to the sky without losing a few leaves once in awhile. We need to take some profits off the table soon or the eventual correction will be much worse. On Wednesday there are no material economic reports with only Mortgage Applications and the Consumer Comfort Index. The only speech to watch is Secretary Snow and the bond groupies will be watching for comments on the dollar. The dollar set a new low against the Euro on Tuesday and the bond guys expect the strong dollar talk to pickup soon. We also have a lot of bond paper coming to market this month and that will take some cash out of the equity market in an election year. The biggest report for the week is the Jobs report on Friday and everything we see on Wednesday and Thursday will be posturing in advance of those numbers. The consensus estimate is for the addition of +127,000 jobs. Considering the November number dropped to only +57,000 jobs this could be optimistic. October had +137,000 and shocked the markets for a week. Considering December is not normally a hiring month it will be interesting to see if the estimates come to pass. A negative number would be very serious. Traders are keeping one eye on the five-day barometer for guidance to the rest of the year. Historically if the first five days of the year finish with a gain we have an 85% chance of a positive year. If the first five days finish with a loss there is a 50:50 chance the year will also close down. Obviously you can twist the numbers any way you want but traders are a superstitious lot and they really want to keep it green through Thursday. For me I will be watching for weakness between now and Friday. I would be very surprised if we do not trade lower before the week is out. I consider it a buying opportunity for those who have the patience to wait. Enter Passively, Exit Aggressively. 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 --------------------------------- Cisco Systems - CSCO - close: 25.06 change: +0.29 WHAT TO WATCH: With the Networking index (NWX.X) breaking out with strength this week, it should come as no surprise that CSCO is going along for the ride. Breaking above $24.50 yesterday was a nice start and the bulls added to those gains today, propelling the stock above $25 for the first time since February 2001. The ideal entry will come on a pullback near $24.50, with a rally towards $28 resistance being a reasonable target. --- Xerox Corp. - XRX - close: 14.07 change: +0.25 WHAT TO WATCH: The broad market rally is really starting to expand out to some of the less popular names and shares of XRX are on the move again. After moving to new multi-year highs just below $14, XRX got a strong boost on Tuesday and looks destined to fill the gap to $15 from 2000 and potentially continue up towards stronger resistance at $16. --- Cabot Microelectronics Corp. - CCMP - close: 54.30 change: +1.27 WHAT TO WATCH: With the SOX nearing major resistance again, even the weaker Chip stocks are joining the party. CCMP has been consistently under pressure for the past several months, but yesterday's break above the descending trendline appears to have changed all that. Buyers drove the stock higher again on Tuesday, this time clearing the 200-dma and it looks like a run at $60 resistance is underway. A pullback to support between the 50-dma and 200-dma looks attractive as an entry point. --- Federated Department Stores - FD - close: 48.01 change: +1.10 WHAT TO WATCH: Bouncing back smartly from support, the Retail index is just about to challenge the $380 resistance level again. Shares of FD are ahead of the game though, having broken through $47.50 resistance and the 50-dma on Tuesday. Look for some resistance near $50 and then a move to new highs, especially if the RLX is able to keep climbing. =================== On the RADAR Screen =================== IPXL $16.88 - The combination of an upgrade from First Albany and management changes was enough to send the stock soaring through $16.50 resistance on Tuesday and aside from some intraday highs near $17 back in 2001, there's no resistance to be found. Look for entries near $16 and then play for a rally up towards round number resistance at $20. AAI $13.13 - After nearly a month of grinding along the 200-dma, shares of AAI finally got a boost on Tuesday, gaining more than 6%. Look for continuation up through the 50-dma to set the stage for a run at strong resistance near $15.50. CACC $16.34 - New highs seem to be the theme in the market and CACC joined the party again on Tuesday with a 7.5% gain to close at its best level since 1997. A brief pullback near $15.50 would confirm former resistance as new support and provide for new entries ahead of a continued rally up towards $18 resistance. =============================== Market Sentiment =============================== Patiently Waiting - J. Brown The markets appear to be patiently waiting for the Q4 earnings season to start and disappointing economic data is not going to get in its way of just waiting. At least that's what it seems like today. The ISM services index was a disappointing 58.6 in December, down from the 60.1 in November and the estimates for a small gain to 60.8. Plus, the factory orders in November fell but then they were expected to. No, the real story today was probably not the economic data but the lack of selling in the major indices. Investors seem willing to hold on until we begin to hear just how good the last quarter really was. The DJIA held on to its Monday gains while the NASDAQ, so close to a two-year high yesterday, decided to make it official. The NASDAQ gains were driven by strength in the tech sector (as usual) and one might be lead to believe that the path of least resistance remains up. However, we should not forget that the first few days of January are traditionally bullish ones so the recent strength comes as no surprise to anyone. Tomorrow is free of economic news and Thursday has a few reports including the December same-store sales figures for this country's retailers. Plus Alcoa opens the earnings season with its own report on Thursday after the close. Yet the big event everyone is now looking to is Friday's December jobs report. Economists are hoping for an improvement of 148,000 jobs. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10549 52-week Low : 7416 Current : 10538 Moving Averages: (Simple) 10-dma: 10413 50-dma: 9960 200-dma: 9271 S&P 500 ($SPX) 52-week High: 1124 52-week Low : 788 Current : 1123 Moving Averages: (Simple) 10-dma: 1106 50-dma: 1066 200-dma: 996 Nasdaq-100 ($NDX) 52-week High: 1504 52-week Low : 795 Current : 1501 Moving Averages: (Simple) 10-dma: 1463 50-dma: 1422 200-dma: 1281 ----------------------------------------------------------------- A number of traders have been worried that something is just going to yank the carpet out from underneath this market. It's a common fear these days. Yet it looks like the only carpet yanking around here has been in the volatility indices. The VXO (old VIX) has plummeted from its recent relative high back towards its multi-year lows. The VIX has followed suit and the VXN has hit new all-time lows as of today. CBOE Market Volatility Index (VIX) = 16.73 -0.76 CBOE Mkt Volatility old VIX (VXO) = 15.34 -1.37 Nasdaq Volatility Index (VXN) = 22.76 -1.13 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.57 1,003,430 567,995 Equity Only 0.40 872,664 347,760 OEX 1.11 23,950 26,677 QQQ 0.46 76,443 35,408 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 77.2 + 1 Bull Confirmed NASDAQ-100 79.0 + 6 Bull Confirmed Dow Indust. 86.6 + 0 Bull Confirmed S&P 500 85.6 + 2 Bull Confirmed S&P 100 84.0 + 0 Bull Confirmed 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: 0.91 10-dma: 0.89 21-dma: 0.99 55-dma: 1.06 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 1433 1726 Decliners 1425 1371 New Highs 495 351 New Lows 14 6 Up Volume 967M 1408M Down Vol. 885M 822M Total Vol. 1888M 2248M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 12/22/03 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 Was it a one-week blip? The surge in long positions by commercial traders have evaporated. Was a sudden change of heart or did they just get caught up in the holiday spirit? Of course there was an equally strong disappearing act in commercial short positions so maybe they're just confused. Small traders have really cut back on their shorts and in effect become extremely bullish. Commercials Long Short Net % Of OI 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% 12/22/03 400,066 405,240 (5,174) (0.6%) Most bearish reading of the year: (111,956) - 3/06/02 Most bullish reading of the year: 23,977 - 12/09/03 Small Traders Long Short Net % of OI 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% 12/22/03 147,537 81,596 65,941 28.8% 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 Wow! The disappearing act in the full contracts (above) is nothing compared to the drop in contracts below. Commercial traders really reduced their outstanding long positions in the e-mini's and that's not a bullish development. Right on cue, the small traders cut back on their short positions. Commercials Long Short Net % Of OI 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%) 12/22/03 128,801 213,021 (84,220) (24.6%) 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 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% 12/22/03 125,248 43,482 81,766 48.5% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 We see the same contract evaporation in the NDX futures as well. Commercial long contracts lost 1/3 of their number but short contracts were cut in half. That actually sounds bullish. Commercials Long Short Net % of OI 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% 12/22/03 40,277 36,452 3,825 5.0% 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 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% 12/22/03 22,656 14,544 8,112 21.8% 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 This time it is the small traders that drastically reduced their short contracts. They probably got tired of losing money. Commercials followed suit. Commercials Long Short Net % of OI 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% 12/22/03 14,088 9,998 4,090 17.0% 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 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%) 12/22/03 6,915 8,983 ( 2,068) (13.0%) 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 Weekend Edition 01-06-2004 section 2 of 2 Copyright (c) 2004, 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: Going Vertical Stop Adjustments: CIT, NVDA, PLCM 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 (Bullish) =============== NVIDIA Corp. - NVDA - close: 24.80 change: +0.97 stop: 23.50*new* Company Description: NVIDIA Corporation designs, develops and markets 3D graphics processors, graphics processing units and related software that set the standard for performance, quality and features for every type of desktop personal computer user. Used in a wide variety of application including games, the Internet and industrial design, the company's products were the first to incorporate a 128-bit multi-texturing graphics architecture. This design approach delivers to users a highly immersive, interactive 3D experience with compelling visual quality and stunning effects at real-time frame rates. NVDA sells its products to major PC manufacturers such as Compaq, Dell, Gateway, Hewlett-Packard and IBM. Why we like it: That initial breakout over the $22 level was precisely what we were expecting from NVDA when we initiated coverage a little over a week ago. Jumping aboard on the initial breakout was the only entry point offered, as the stock got even more over-cooked the next day with its gap higher. Finally running out of steam just over $24, it looks like NVDA is finally going to drop back and hopefully give a continuation entry. Look for initial support near $22.75 (bottom of Monday's gap) to the site of the 10-dma ($22.50). A rebound from that area can be used for initiating new positions, while more aggressive traders can even target entry in the $22.00-22.25 area on a confirmation of that old resistance area acting as newfound support. Breakout entries over $24 might work, but until NVDA fills in some of the chart space left behind in the ramp from $22-24, that approach carries undue risk. Maintain stops at $21. Why This is our Play of the Day Benefiting from some positive press this morning, NVDA charged higher right out of the gate, obliterating the $24 resistance level that has held it back for the past week. Being recognized as one of the 100 best companies to work for by Fortune magazine was a nice PR boost, but the real news of the day was the company's announcement its nForce3 media and communications processors (MCPs) fully support the new AMD Athlon64 processor 3400+. The stock repeatedly was turned back from the $25 resistance throughout the day, but even with some end of day profit taking, ended with a more than 4% gain. That's pretty impressive when compared to the Semiconductor index's paltry 0.4% gain. Of course, it didn't hurt having volume run roughly 80% above the ADV. Our initial target was for a move into the $25-26 area, so conservative traders certainly could have harvested some profits today. Use another move up towards $26 as an opportunity to exit with a hefty gain. Obviously, this close to our target, we are not advocating new entries. Tighten stops aggressively to $23.50, just below today's intraday low. Annotated Chart of NVDA: Picked on December 24th at $21.80 Change since picked +3.00 Earnings Date 2/05/04 (unconfirmed) Average Daily Volume = 5.43 mln ================================================================= Stop Loss Adjustments ================================================================= CIT - long Adjust from $33.98 up to $35.00 NVDA - long Adjust from $22.00 up to $23.50 PLCM - long Adjust from $18.40 up to $19.25 ================== 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 CTX Centex Corp 105.30 +2.71 MDC MDC Holdings 62.20 +1.52 HOV Hovnanian Enterprises 81.56 +1.71 TTWO Take-Two Interactive 31.85 +2.69 AAI Airtran Holdings 13.13 +0.77 DCEL Dobson Communications 7.57 +0.55 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- INFS Infocus Corp 11.92 +1.89 HIFN Hi/Fn Inc 15.90 +1.70 IPXL Impax Labs 16.88 +1.16 SEAC Seachange Intl 17.63 +1.14 ISSI Integrated Silicon 17.97 +1.11 CAMD California Micro Devices 10.85 +1.25 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- XMSR XM Satellite Radio 28.97 +1.83 SNPS Synopys Inc 35.74 +1.05 ASKJ Ask Jeeves Inc 22.96 +2.08 DLTR Dollar Tree Stores 31.86 +2.27 DGIN Digital Insight Corp 28.01 +1.73 ELBO Electronics Boutique 27.17 +2.67 VSEA Varian Semiconductor 48.54 +2.46 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- ODSY Odyssey Healthcare 26.59 -1.73 USNA USANA Health Science 28.10 -1.62 PLNR Planar Systems 20.18 -5.67 KVHI KVH Industries 20.50 -2.35 ELAB Eon Labs 46.97 -2.43 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- CTAS Cintas Corp 48.05 -1.79 DE Deere & Co 62.60 -1.79 UVN Univision Corp 38.24 -1.69 DHR Danaher Corp 89.50 -1.11 NX Quanex Corp 45.15 -1.25 WPS WPS Resources 45.62 -0.66 MTLM Metal Management 34.45 -1.05 ================================================================= 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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