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PremierInvestor.net Newsletter          Weekend Edition 01-18-2004
                                                    section 1 of 3
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:       Two Out of Three
Market Sentiment:  The Race Continues
Watch List:        ADIC, RCKY, TMA, MENT

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
       WE 01-23        WE 01-16        WE 01-09        WE 01-02
DOW    10568.29 - 32.22 10600.5 +141.62 10458.9 + 49.04 + 85.18
Nasdaq  2123.87 - 16.59 2140.46 + 53.54 2086.92 + 80.24 + 33.54
S&P-100  565.41 +  0.69  564.72 +  8.17  556.55 +  6.56 +  7.21
S&P-500 1141.55 +  1.72 1139.83 + 17.97 1121.86 + 13.38 + 12.21
W5000  11156.78 + 40.74 11116.0 +187.04 10929.0 +151.14 +115.48
RUT      596.14 +  5.73  590.41 + 15.21  575.20 + 14.35 +  5.75
TRAN    3072.94 + 36.66 3036.28 + 47.34 2988.94 - 19.22 +  8.49
VIX       14.84 -  0.16   15.00 -  1.75   16.75 -  1.47 +  0.83
VXO       14.87 -  0.40   15.27 -  0.67   15.94 -  2.00 +  1.36
VXN       21.27 +  1.03   20.24 -  2.77   23.01 -  1.50 +  0.56
TRIN       1.15            0.47            1.63            1.01
Put/Call   0.77            0.51            0.65            0.76
WE = week ending
=================================================================

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

Two Out of Three
by Jim Brown

Two of the top three indexes broke their long running winning
streaks. Two of the three busiest weeks in the earnings cycle
are now over. While these milestones are noted in passing they
have no real impact on our market direction next week. If
anything it takes the pressure off the Dow to keep the streak
going and gives dip buyers an entry point.

Dow Chart - 120 min


Nasdaq Chart - 60 min



The only economic report on Friday, the ECRI Weekly Leading
Index, saw the projected six month growth rate rise to +9.6%
after two weeks of declines. Almost all of the index
components rose but the +12% gain in mortgage applications
had the biggest impact. The strength of the internals suggest
that the last two months of sluggishness in the index may be
coming to an end. A problem for next week was the huge spike
in the ten year note yields on Friday to 4.06% from Friday's
low of 3.91%. That may not seem like much but the morning
low was a four-month low. The bounce was due to some option
expiration worries and news that the G7, meeting Monday,
could warn the ECB to reel in the soaring Euro. The prospect
of intervention in the currency sent bonds into a spin and
helped take stocks with them.

In stock news the merger mania is alive and well. Regions
Financial (NYSE:RF) and Union Planters (NYSE:UPC) agreed
to merge in a nearly $6 billion transaction and create one
of the largest banks in the Southeast. It was said this was
an offensive strategy to better compete with STI, BBT and
WFC in the region. It could also be a defensive strategy
to make them less desirable of a target for a big bank to
acquire. There was no premium on the deal for UPC which
was the acquired entity. UPC was started in 1869 during
Civil War reconstruction. They must have seen the bank
Yankees from New York coming over the hill to surrender
to RF without any recruitment fee. Analysts liked the
deal as both stocks rose strongly on the day.

The Dow positive string was broken after eight weeks and
the Nasdaq string was stopped at six. The S&P is still
alive and celebrated its ninth straight week of gains.
The gains are being fueled by massive amounts of cash
flowing into mutual funds. The S&P is greatly supported
by contributions to index funds which do not try to time
the market but just invest the cash when it arrives.
TrimTabs said $11.5 billion flowed into funds in the
first eleven days of January. This was the second highest
rate on record with $16 billion in early February 2000
the existing record. AMG Data said $5.6 billion flowed
into funds for the week ended Wednesday. This flood of
cash always trails market performance. We had a great
earnings run that pushed the Dow back over 10,000 and the
flashing alert light went on in homes across the country.
That triggered the continued flood of cash and until that
cash shrinks to a trickle the rally will continue. There
is no shortage of cash on the sidelines. Some analysts
now estimate that there is as much as 10% cash reserves
now in many funds. They are waiting to see what will
happen when the winning streak ends before putting all
of the inflows to work. With seven trillion dollars in
equity funds that is a lot of money regardless of how
little you think they are hoarding.

Friday's market action did not play out as expected. The
tech stocks traded down overseas but our futures rallied
before the open and gave us a gap open instead of the
gap dawn they were indicating late Thursday night. No
problem, we will always take a gap up rather than a gap
down. Unfortunately it did not last long and after taking
one more shot at 10650 the Dow rolled over and led the
broader markets down all day. The Nasdaq tried valiantly
to reach for the sky on the better than expected semi
earnings but could only make it to 2138 before following
the Dow into the depths. The Nasdaq managed to close in
positive territory thanks to a strong rebound off 2110
in the last 20 minutes.

The S&P broke 1150 and it's nearly two year high once
again and struggled to hold near that level but the diving
Dow finally sunk it. This is a very tough level for the
S&P with 1152 a 50% rebound from the October-2002 lows.
1161 is a 50% retracement from the Jan-2000 to Oct-02
drop and 1173 is the 2002 resistance highs. Very tough
territory for the S&P.

The strongest index was still the Russell-2000 which
closed up +4.41 at 595 thanks to a really strong end of
day bounce. The low was 589.92 but the key was the close.
It was only .77 below the high for the day. Very strong
performance and proof that the retail investor is alive,
well and buying the dips with a vengeance despite the
very extended indexes. 600 is still very strong resistance
and 606 was the all time closing high. Both could be tough
levels to break.

Russell-2000 Chart - 120 min



Microsoft recovered from the bad-mouthing drop Thursday
night to spike to a two month high and ended the day up
+.47 cents. Volume was 127 million shares. Intel, which
should have benefited from Microsoft's prediction of
double digit PC growth for the first six months closed
only fractionally positive but off its lows. KLAC had
great results but got knocked for -2.21 loss. This
helped accelerate the $SOX drop which began Wednesday
morning. The SOX closed at 526 and well off the high
for the week at 558. That is nearly a -6% drop in three
days for a sector that has been giving positive guidance
and had a book-to-bill number last Monday of 1.20, the
highest level since July-2002. This is proof that profit
taking sometimes occurs despite good news.

Next week is going to be tricky. Monday is a very light
day economically but we have the FOMC meeting on Tue/Wed
and a strong economic calendar the rest of the week. We
have already seen 1/3 of the Dow stocks report and we
get another 1/3 next week. Another 143 S&P companies
also report earnings. This is a very busy week but the
two key points are the Fed announcement on Wed and the
GDP on Friday. As I said on Thursday the Fed may take
the opportunity of low bond rates and a high stock market
to adjust their bias statement and traders could be very
cautious into that announcement. The threat of an ECB
rate cut could actually be a wild card that could cause
a 1/4 point rate hike to show cooperation. While almost
nobody expects that the news report on Friday put the
possibility in traders minds. The bond market imploded
on the potential sending yields soaring. Everyone expects
this meeting to be a non event but the rumors are flying.
Greenspan will speak in London on Monday and there is
always risk when he speaks to an international crowd.
With Howard Dean suggesting he be fired there is always
the risk Greenspan uses his oratory skills to reinforce
his current clout.

The other fear is the GDP. I say fear because the GDP
expectations are getting out of line. With the ECRI
Index showing a growth spurt to +9.6% Friday it just
provided more fuel for the GDP whisper number. This
could be a big disappointment. On Thursday I suggested
a hot number would prompt Fed action and disappoint the
markets. The current official estimate is +4.5% and the
whisper number +6.5%. The best case would probably be
something in the +5.1% range that would be neutral to
everyone.

The roadmap is clear but the road may be rocky for the
next five days. The market conditions are still strong
with advancers BEATING decliners 3916 to 3414 despite
the Dow and S&P turning in negative performances. Volume
was almost perfectly split between up (2.23B) and down
(2.31B) and it was still strong although about -10%
from the prior levels this week. This suggests that
the Dow drop is just a normal pullback on profit taking.

If the markets remain bullish the Dow now has breathing
room of nearly -100 points from the weeks highs. This
will allow some room to consolidate and give dip buyers
an entry opportunity if desired. Resistance remains
10650 and support at 10500 then 10400. This is a no risk
range for the Dow in front of a rocky week. Plenty of
room to wander without having to take out any critical
levels. The Nasdaq is in the same shape with resistance
at 2150 and support at 2085. That 65-point range will
take some of the stress out of trading techs.

The key levels are still 1150-1160 on the S&P and 600
on the Russell. Those indexes are still close enough
to test those resistance levels and if broken the other
indexes would be quick to catch up. My market view for
next week would be flat to down Mon/Tue with Wednesday's
close dependent on the Fed meeting. Beginning Thursday
I am expecting a cautious uptick in anticipation of
a positive Jobs report the following Friday. I say
cautious because of the GDP time bomb. It could be
very bullish, very bearish or a dud. Once that report
is over we will review the outlook for the following
week. This could be the busiest earnings week for this
cycle and there will be no shortage of stock news. The
better earnings tend to be reported earlier in the cycle
so there is a potential for a few more disappointments.
I do not think it will matter. Investors already have
their minds made up and they are not going to learn
anything new. We are in a momentum market and according
to the internals there is no slowdown in sight. That
could change abruptly the first time a big dip fails
to rebound. Keep those parachutes handy.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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

The Race Continues
- J. Brown

The major indices have been racing higher for several weeks
straight and they finally had to pause and catch their breath.
This last week ended an eight-week stretch for the Dow Jones
Industrials and the S&P 500 and it closed a six-week rally for
the NASDAQ.  Fortunately for investors the consolidation was
pretty mild.  Almost too mild.  The averages are looking so
extended that it's getting tougher to chase them and it's been
too dangerous to attempt many bearish plays.  No one wants to
pick a top but no one appears willing to buy the top either.  At
least that appears to be a growing feeling among some traders.
It could be wrong and this market could take off again despite
their increasingly overbought and somewhat bearish technical
oscillators.

I think the market internals for the last couple of days might be
the real clue.  The advance-decline line has been weakening and
the up-down volume ratios have also been fading from their
bullish levels.  For weeks you've heard that the markets are due
for a pull back.  Odds are when it finally comes it will be brief
but sharp. This expectation could put the brakes on any new rally
attempts.  Why buy stocks now when you might get a chance to buy
them 5% or 10% cheaper?

Let's look at some of the sector indices.  Bulls should be happy
to see the Dow Transports (TRAN) almost hitting 3-year highs.
The group recently broke out above resistance at 3050 despite
crude oil prices hitting $35 a barrel.  Traditional Dow theory
suggests you can't have an extended rally/bull-market without the
transports along for the ride.  So far so good.

The GHA hardware index has pulled back to its support in the 257-
258 range.  We might see a bounce here in spite of its bearish
technicals.

The OSX oil services index was the big winner on Friday with a
3.98% gain.  This was sparked by a strong earnings report from
Schlumberger (SLB), who turned in 50 cents a share, 7 cents
better than expected.  SLB was up 7.5% and brokers were upgrading
the issue on growing expectations for increased oil exploration
and production.

Some of the strongest sectors in the market have been the UTY
utility index and the XNG natural gas index.  They have both
traded sideways the past couple of sessions but they are
maintaining their gains and new yearly highs.  It could be
investors chasing those stocks with a higher-dividend yield.

I also noticed some minor strength in the RLX retail sector.
Category killer Wal-Mart (WMT) broke through resistance at $54
and its simple 50-dma on Friday, giving the group a lift.

The XAU gold & silver index continues to look weak.  Friday was
another close under the 100 level as gold futures dropped another
$2 to close at $408.

Another group to watch next week may be the Insurance sector.
The IUX index has been climbing in a very narrow channel for 9
weeks straight.  It just pulled back toward its simple 10-dma and
a breakdown here could spark a sharp round of profit taking.

Next week investors will have to withstand another flood of
earnings on top of several economic reports, not to mention the
two-day FOMC meeting.

Monday will bring the December existing home sales figures, which
are expected to be slightly higher.  Tuesday is the Conference
Board's consumer confidence report, which is also expected to
rise from December.  Tuesday night will offer the New Hampshire
Democratic primary and if the new front-runner Kerry wins it
could cause a stir on Wednesday.  Actually, it probably won't
matter who wins because the markets don't like uncertainty.
Expect some volatility on Wednesday no matter what the primary
results are.  Plus, we'll have the interest rate decision by the
Fed on Wednesday but no one really expects any changes.  The rest
of the week will bring even more economic reports but earnings
will continue to hog the spotlight.

Trade carefully!


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

Market Averages

DJIA ($INDU)

52-week High: 10660
52-week Low :  7416
Current     : 10568

Moving Averages:
(Simple)

 10-dma: 10540
 50-dma: 10146
200-dma:  9411

S&P 500 ($SPX)

52-week High: 1150
52-week Low :  788
Current     : 1141

Moving Averages:
(Simple)

 10-dma: 1134
 50-dma: 1087
200-dma: 1012

Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low :  795
Current     : 1531

Moving Averages:
(Simple)

 10-dma: 1534
 50-dma: 1447
200-dma: 1307


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

The volatility indices continue to offer us little help.  They
remain near their lows despite the mild weakness in the major
averages.

CBOE Market Volatility Index (VIX) = 14.84 +0.13
CBOE Mkt Volatility old VIX  (VXO) = 14.87 -0.14
Nasdaq Volatility Index (VXN)      = 21.27 -0.47

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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.77        861,409       665,677
Equity Only    0.60        764,989       456,491
OEX            1.67         13,497        22,561
QQQ            2.85         32,996        98,161


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

Bullish Percent Data

           Current   Change   Status
NYSE          78.4    + 0     Bull Confirmed
NASDAQ-100    79.0    - 1     Bull Confirmed
Dow Indust.   93.3    + 0     Bull Confirmed
S&P 500       88.8    + 0     Bull Confirmed
S&P 100       88.0    + 1     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: 1.00
10-dma: 1.06
21-dma: 0.97
55-dma: 1.05


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    1529      1766
Decliners    1329      1316

New Highs     398       274
New Lows        7         5

Up Volume    960M      1116
Down Vol.    924M      1072

Total Vol.  1946M     2231M
M = millions


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

Commitments Of Traders Report: 01/23/04

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

Wow!  We've seen a mild reversal in the commercial traders'
positions.  They've moved from mildly net short to mildly net
long.  That's an encouraging sign for more strength in the
markets.  Small traders have grown a bit more cynical with
a slight increase in short positions but they remain net
long.


Commercials   Long      Short      Net     % Of OI
12/22/03      400,066   405,240    (5,174)   (0.6%)
01/06/04      403,721   408,729    (5,008)   (0.6%)
01/13/04      405,558   411,361    (5,803)   (0.7%)
01/23/04      422,135   407,626    14,509     1.7%

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
12/22/03      147,537    81,596    65,941    28.8%
01/06/04      142,844    83,518    59,326    26.2
01/13/04      149,057    90,571    58,486    24.4%
01/23/04      141,107   100,090    41,017    17.0%

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

Commercials are starting to up their bets on the e-minis with
almost 40K new longs and 44K new shorts.  Small traders in
turn reduced their bets but remain net long.


Commercials   Long      Short      Net     % Of OI
12/22/03      128,801   213,021    (84,220)  (24.6%)
01/06/04      175,489   240,865    (65,376)  (15.7%)
01/13/04      196,858   263,845    (66,987)  (14.5%)
01/23/04      233,867   307,122    (73,255)  (13.5%)

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
12/22/03     125,248     43,482    81,766    48.5%
01/06/04     139,433     51,909    87,524    45.7%
01/13/04     191,241     62,711   128,530    50.6%
01/23/04     187,270     57,196   130,074    53.2%

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


NASDAQ-100

There is very little change in commercial traders' positions
here and the same holds true for the small traders.


Commercials   Long      Short      Net     % of OI
12/22/03       40,277     36,452     3,825    5.0%
01/06/04       42,892     37,801     5,091    6.3%
01/13/04       41,829     38,547     3,282    4.1%
01/23/04       42,823     39,442     3,381    4.1%

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
12/22/03       22,656    14,544     8,112    21.8%
01/06/04        8,035    17,911   ( 9,876)  (38.1%)
01/13/04        9,705    12,539   ( 2,834)  (12.7%)
01/23/04        9,180    11,371   ( 2,191)  (10.7%)

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 also hesitant to make any big changes to their
net bullish stance on the Dow.  Meanwhile small traders grow
a little more bearish.


Commercials   Long      Short      Net     % of OI
12/22/03       14,088     9,998    4,090      17.0%
01/06/04       15,697     9,497    6,200      24.6%
01/13/04       16,501     8,724    7,777      30.8%
01/23/04       16,403     9,252    7,151      27.9%

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
12/22/03        6,915     8,983  ( 2,068)   (13.0%)
01/06/04        5,713     8,105  ( 2,392)   (17.3%)
01/13/04        6,496     9,970  ( 3,474)   (21.1%)
01/23/04        6,068    10,183  ( 4,115)   (25.3%)

Most bearish reading of the year: (10,136) - 12/16/03
Most bullish reading of the year:   8,523  -  8/26/03

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


==================================================================
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
---------------------------------

Advanced Digital Info Corp - ADIC - close: 17.99 change: +0.65

WHAT TO WATCH: The computer storage device sector didn't do so
hot this week after Seagate missed its earnings estimates and
warned for the next quarter. Fortunately, the profit taking in
ADIC didn't hit that hard and traders were buying the dip on
Friday.  Bulls might want to look for a move back over the $18
level as a potential entry point.  Earnings for ADIC should be
March 11th.

Chart=


---

Rocky Shoes & Boots - RCKY - close: 30.27 change: +0.75

WHAT TO WATCH: RCKY has been a strong out performer with a steady
stream of higher lows.  The stock tends to pop higher,
consolidate for a bit and then the higher lows eventually produce
the next pop.  RCKY looks ready for its next pop.  However, be
cautious.  We can't find any earnings date and volume tends to be
low.

Chart=


---

Thornburg Mtg Inc - TMA - close: 27.96 change: +.031

WHAT TO WATCH: Investors are cheering this mortgage lender's
recent earnings report and the stock is shooting higher on
slightly improved volume.  Considering the low mortgage rates,
lenders are doing big business.  We'd look for a breakout over
long-time resistance at $28.00.  A trigger over Friday's high of
28.05 might work.

Chart=


---

Mentor Graphics Corp - MENT - close: 17.50 change: +0.33

WHAT TO WATCH: The software sector was one of the few tech-
related sectors to close higher on Friday, mainly due to MSFT's
earnings Thursday night.  MENT, a software company, enjoyed a
small bounce from the $17 level but investors seem reluctant to
bid the stock higher as the company's earnings report looms
closer.  If its Jan. 27th earnings report is positive we'll look
for a breakout over the $18.00 level.

Chart=



-------------
RADAR SCREEN - more stocks to watch
-------------

SY $21.69 +0.09 - We would normally consider the pull back to its
rising support at SY's 40-dma a bullish entry point but the
company is due to announce earnings on Jan. 27th.  Look for a big
move either direction.

NMG.A $55.24 +1.34 - This looks like a bullish breakout over
resistance at $55.  After seven weeks of consolidation it might
be worth chasing.

JNPR $27.98 -1.19 - The top and bottom of a big gap tends to be
support or resistance.  If JNPR breaks the to of the gap at
$27.40 it will become a bearish candidate to fill the gap.


=================================================================
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DISCLAIMER
=================================================================

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Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 01-25-2004
                                                    section 2 of 3
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 two:

Tech Stocks
  New Bearish Plays:     AMAT
  Bullish Play Updates:  SPIL


Active Trader (Non-tech)
  New Bullish Plays:     BLI
  Bullish Play Updates:  ACE, IPG, ELBO, TXU


High Risk/Reward
  New Bearish Plays:     JNPR
  Bullish Play Updates:  ORB


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

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

Applied Materials - AMAT - close: 22.52 change: -1.03 stop: 23.69

Company Description:
Applied Materials (Nasdaq: AMAT), the world's largest supplier of
products and services to the global semiconductor industry, is
one of the leading information infrastructure providers. As a
core information infrastructure company, Applied Materials
innovates and commercializes the processing and manufacturing
technology that helps semiconductor manufacturers produce the
world's most advanced chips. To support customers around the
world, Applied Materials employs approximately 12,000 people in
over 70 locations throughout the United States, Europe, Japan,
Korea, Israel, Taiwan, Malaysia, Singapore and the People's
Republic of China.
(source: company press release)

Why We Like It:
If investors are going to take some money off the table the chip
sector is likely to feel it pretty strongly.  We're adding AMAT
to the short list in anticipation of a stronger correction in the
SOX.  Fundamentally, we're pretty bullish on the group if the
crowd of analysts are to be believed that global chip sales will
surge more than 20% in 2004.  AMAT should also benefit from
increased capex spending but these fundamentally bullish
influences will not prevent short-term consolidations in
overbought sectors.

We are going to use a TRIGGER at 21.95 to open the play.  This is
crucial because AMAT has a rising trendline of support that
should cross right at the $22.00 level.  Until AMAT trades at
$21.95 or below we're just spectators.  Fortunately, AMAT's
technical indicators like its MACD have already produced a fresh
sell signal.  If we're triggered we'll use a stop loss at 23.69.

Annotated Chart:



Picked on January 25 at $xx.xx <-- See TRIGGER
Gain since picked:       +0.00
Earnings Date         02/18/04 (unconfirmed)
Average Daily Volume:       29 million
Chart =



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

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

Siliconware Precision Ind. - SPIL - cls: 5.96 chg: -0.05 stop: 5.69

It hasn't been the best week for semiconductor stocks.  The SOX
index has broken its 10-dma and closed below what should have
been support in the 530-535 range.  While the group is still in
its longer-term up trend it may be vulnerable to more short-term
profit taking.  Considering the weakness in the sector traders
should be cautious about considering bullish positions in SPIL.
Fortunately, SPIL has help up reasonably well.  The profit taking
has brought the stock back to its simple 10-dma, where the stock
bounced just five days ago.  Look for SPIL to trade back above
the $6.00 level before considering new positions.

Annotated Chart:



Picked on January 18 at $ 6.02
Gain since picked:      - 0.06
Earnings Date         02/12/04 (unconfirmed)
Average Daily Volume:      1.7 million
Chart =



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

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

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

Big Lots Inc - BLI - close: 15.23 chg: +0.22 stop: 14.30

Company Description:
Big Lots, Inc. is the nation's largest broadline closeout
retailer. The Company operates a total of 1,438 stores in 45
states operating as BIG LOTS and BIG LOTS FURNITURE. Wholesale
operations are conducted through BIG LOTS WHOLESALE, CONSOLIDATED
INTERNATIONAL, WISCONSIN TOY and with online purchasing at
www.biglotswholesale.com. (source: company press release)

Why We Like It:
It looks like the bottom may be in for the share price in BLI.
The stock bounced from its intraday low in December near $13.00,
which just happened to be old resistance from last April-May.
Now a steady stream of higher lows has fueled a breakout above
its 200-dma and investors have followed through on the move to
break price resistance at $15.00.  Driving investor confidence
has been two months of better than expected revenues.  BLI
reported that November same-store or comparable store sales were
up 5.6% versus the previous year and December same-store sales
were up 6.2%.  With a mid-February earnings date there is plenty
of time for BLI to generate some pre-earnings momentum.

We like the stock at current levels and plan to target a move to
the $17.00 region, although we can reasonably expect some
resistance about every 50 cents.  We'll start the play with a
stop loss at $14.30, or Wednesday's low.  A move above $15.50
will generate a fresh P&F buy signal.

Annotated Chart:



Picked on January 25 at $15x23
Gain since picked:       +0.00
Earnings Date         02/18/04 (unconfirmed)
Average Daily Volume:      652 thousand
Chart =



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

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

ACE Ltd - ACE - close: 42.67 change: -0.35 stop: 41.95

Danger! Danger Will Robinson!  Our apologies to "Lost in Space"
but we're growing concerned about the trend in ACE.  The rally
looks tired and the dip in the IUX insurance index on Friday
doesn't help.  Granted both the stock and the index are overdue
for some profit taking but we were hoping ACE could make it to
the $45.00 level before investors began to cash in their chips.
We would not suggest any new bullish positions in ACE at this
time.  As a matter of fact this is not a bad place to consider
taking some profits off the table.  We'll leave our stop loss at
42.95.

Annotated chart:




Picked on Dec 22nd at $40.05
Gain since picked:     +2.62
Earnings Date       02/05/04 (confirmed)
Average Daily Volume:    1.3 million
Chart =


---

Interpublic Group - IPG - close: 16.84 chg: +0.03 stop: 15.99

We didn't get very far with IPG this week did we?  The stock,
much like the major stock indices churned sideways.  The good
news is that IPG did continue to build on its trend of higher
lows and thus looks even more coiled for a bullish breakout over
the $17.00 level.  The bad news is all this consolidation after
its big run up from its December lows has its technical
indicators rolling over.  Considering the potential for more
weakness in the major averages traders might want to consider
waiting for IPG to trade above $17.00 or 17.05 before initiating
new positions.  Please IPG's original play description for more
details.

Annotated Chart:



Picked on January 18 at $16.98
Gain since picked:      - 0.14
Earnings Date         03/09/04 (confirmed)
Average Daily Volume:      3.6 million
Chart =


---

Elec. Boutique - ELBO - close: 25.82 change: -0.13 stop: 24.45

You have to dial down to the microscopic scale to see that shares
of ELBO really went anywhere last week, as the stock traded in a
very narrow range on volume that continued to wane into Friday's
close.  After a successful rebound from just above the $25 level,
the stock ran into firm resistance at the 10-dma (now at $26.13)
and finds itself being pinched between that level of resistance
and support at the 200-dma (currently $24.98).  As noted in the
original writeup, chasing this stock higher is not a prudent
strategy.  We need to lie in wait, looking to enter on rebounds
from support.  That makes a pullback near the $25.00-25.25 area
the ideal setup, as risk can be tightly controlled with our stop
at $24.45, just under the bottom of the 1/06 gap.  Once through
the 10-dma, look for possible resistance again at the 100-dma
($27.01) and then near $28, which effectively capped the early
January rally.

Picked on January 21st at   $25.85
Change since picked          -0.03
Earnings Date              3/18/04 (unconfirmed)
Average Daily Volume =       593 K

Chart =


---

TXU Corp. - TXU - close: 25.44 change: -0.31 stop: 24.00*new*

After its energetic breakout last Wednesday, TXU was due for a
bit of consolidation and it was impressive that the bulls were
able to put off that event until Friday.  Rather than resting on
Thursday, TXU continued to power higher, tapping the $26 level
(the bottom of the October 2002 gap) before pulling back slightly
and then continuing to drift lower on Friday.  Keeping things in
perspective though, Friday's pullback retraced only a little over
half of Thursday's gains and it will require a drop to $25 to
deliver a 38% retracement (a healthy pullback) of the Tuesday-
Thursday 3-day rally.  That gives us a solid target to shoot for
in terms of new entries.  Look to initiate new positions on a
successful rebound from the $24.75-25.00 area, as that rebound
should then see a rally up to at least $28 (the top of the
intraday range on 10/04/02) and quite possibly to $33 at the top
of the gap.  Of course, with earnings slated for February 12th,
we'll probably have to content ourselves with shooting for that
lower target.  Ratchet stops up to $24 this weekend, as that will
be below the 20-dma ($23.96) on Monday.

Picked on January 21st at   $24.91
Change since picked          +0.53
Earnings Date              2/12/04 (confirmed)
Average Daily Volume =    1.61 mln

Chart =



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

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

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

Juniper Networks - JNPR - close: 27.98 change: -1.19 stop: 30.00

Company Description:
Juniper Networks, Inc. is a provider of network infrastructure
solutions that transform the business of networking by converting
bandwidth into a dependable and secure corporate asset.  The
company's products, services and solutions enable service
providers and other network-intensive businesses to support and
deliver services and applications on an efficient and low-cost
integrated network.  Products are designed and purpose-built for
service provider networks and offer its customers high
performance with less complexity and cost than legacy
alternatives.

Why we like it:
To say that investors' reaction to JNPR's earnings report was
overdone would be a huge understatement.  The company beat
estimates by 2 cents and guided higher for Q1.  That's great, but
the 10% boost to revenue guidance doesn't seem to justify the 30%
rise in the stock the next day.  Of course, having several firms
raise their ratings on the stock just added to the furor and the
lone dissenter was Adam Harkness, citing the stock as fully
valued at current levels, and that was when it was trading just
below $28.  Last Tuesday's pop above $31 left in place a spinning
top doji and the resultant price action has the stock looking
weaker by the day.  This is clearly a very aggressive play, where
we're looking to capitalize on some very overdue profit taking.

Taking a quick look at the daily oscillators, we can see both
MACD and Stochastics giving early Sell signals, and that suggests
that there should be further downside in the week ahead.  But due
to the aggressive nature of the play, we need to use a trigger.
The prudent choice appears to be to wait for a break inside the
post-earnings gap with a trade below $27.40, so we're setting our
entry trigger at $27.35.  We would expect to find some initial
support near the 10-dma (currently $26.14), and then continuation
down to test the $24 support level and possibly fill the gap near
the $23 area.  Once inside the gap, JNPR should not be able to
move back over the $30 level in the near term, so that's where
our stop will initially be placed.  Of course, if the stock
rebounds to hit that level before tapping our trigger, that would
be cause to drop the play as well.  Provided the play goes as
expected, we would suggest conservative exits near $24 and any
position should be aggressively closed on an approach of the $23
level.

Annotated Chart of JNPR:



Picked on January 25th at   $27.98
Change since picked          +0.00
Earnings Date              4/15/04 (unconfirmed)
Average Daily Volume =    9.72 mln



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

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

Orbital Sciences - ORB - cls: 13.11 chng: -0.16 stop: 12.50*new*

Following another near-vertical move above the $13 level, shares
of ORB have been settling into another consolidation pattern,
similar to that seen in both early and late December, each of
which preceded another vertical move.  Can we expect this pattern
to repeat?  It's hard to tell from the price action, but it does
seem that buyers are defending the $13 level as each intraday dip
below there finds plenty of eager buyers.  Bolstering this
support is the 20-dma ($12.75), just below Friday's $12.85
intraday low.  The concern here now is the fact that both
Stochastics and MACD have given bearish crossovers and in the
case of MACD, we have bearish divergence with lower oscillator
highs and higher price highs.  Intraday dips that don't violate
the 20-dma still look alright for new bullish entries, but be
ready to exit if our revised stop at $12.50 is violated.  The
more conservative strategy at this point would be to wait for a
breakout to new recent highs with a move above $13.65, which
would more than likely nullify the nascent bearish divergence
currently seen on the daily chart.

Picked on January 11th at   $12.90
Change since picked          +0.21
Earnings Date                  N/A
Average Daily Volume =       379 K

Chart =



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PremierInvestor.net Newsletter          Weekend Edition 01-25-2004
                                                    section 3 of 3
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 three:

Market Watch for Week of January 26, 2004
   - Major Earnings
   - Stock Splits
   - Economic Reports

Trading Ideas
  Value Plays With Bullish Signals
  Breakout to Upside (Stocks $5 to $20)
  Breakout to Upside (Stocks over $20)
  Breakout to Downside (Stocks over $20)
  Recently Overbought With Bearish Signals (Stocks over $20)


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

==========================================
Market Watch for the week of January 26th
==========================================

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

Symbol  Co               Date           Comment      EPS Est

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

ADPT   Adaptec, Inc.         Mon, Jan 26  After the Bell      0.04
AIN    Albany Intl           Mon, Jan 26  -----N/A-----       0.58
ALTR   Altera Corp           Mon, Jan 26  After the Bell      0.11
AXP    Amn Express Co        Mon, Jan 26  -----N/A-----       0.59
ASD    Amn Standard          Mon, Jan 26  Before the Bell     1.10
ABC    AmeriSourceBergen     Mon, Jan 26  Before the Bell     0.94
ASH    Ashland               Mon, Jan 26  Before the Bell     0.43
STD    Bnc Sntndr Cntl Hspn  Mon, Jan 26  Before the Bell      N/A
BOH    Bank of Hawaii Corp   Mon, Jan 26  Before the Bell     0.65
CSE    CAPSOURCE INC         Mon, Jan 26  After the Bell      0.22
CNF    CNF Inc.              Mon, Jan 26  After the Bell      0.49
CGNX   Cognex                Mon, Jan 26  After the Bell      0.13
CLP    Colonial Prop Trust   Mon, Jan 26  -----N/A-----       0.98
CUZ    Cousins Prop Incorp   Mon, Jan 26  After the Bell      0.57
CVD    Covance               Mon, Jan 26  After the Bell      0.32
DL     Dial                  Mon, Jan 26  Before the Bell     0.35
DOV    Dover Corp            Mon, Jan 26  After the Bell      0.39
FIC    Fair Isaac Corp       Mon, Jan 26  After the Bell      0.56
FCNCA  First Ctzns BncShrs   Mon, Jan 26  After the Bell       N/A
GGP    General Growth Prop   Mon, Jan 26  -----N/A-----       0.73
HLT    Hilton Hotels Corp    Mon, Jan 26  Before the Bell     0.11
IDXX   Idexx Laboratories    Mon, Jan 26  Before the Bell     0.40
KMB    Kimberly Clark        Mon, Jan 26  Before the Bell     0.88
LLL    L-3 Comm Hldgs        Mon, Jan 26  Before the Bell     0.92
LEA    Lear Corp.            Mon, Jan 26  Before the Bell     1.86
LXK    Lexmark Intl, Inc.    Mon, Jan 26  Before the Bell     0.92
MCD    McDonalds Corp        Mon, Jan 26  After the Bell      0.35
MIL    Millipore Corp.       Mon, Jan 26  After the Bell      0.48
NVLS   Novellus Systems, Inc Mon, Jan 26  After the Bell      0.06
PPC    Pilgrim's Pride       Mon, Jan 26  Before the Bell     0.19
SAFC   Safeco Corp.          Mon, Jan 26  Before the Bell     0.88
SGP    Schering-Plough       Mon, Jan 26  Before the Bell     0.04
SLAB   Silicon Laboratories  Mon, Jan 26  After the Bell      0.32
SYY    SYSCO Corp            Mon, Jan 26  Before the Bell     0.32
TXN    Texas Instruments     Mon, Jan 26  After the Bell      0.19
TSN    Tyson Foods           Mon, Jan 26  Before the Bell     0.26
VLI    Valero L.P.           Mon, Jan 26  Before the Bell     0.78


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

AFCI   Advanced Fibre Comm   Tue, Jan 27  After the Bell      0.09
ADVP   AdvancePCS            Tue, Jan 27  After the Bell      0.55
ATE    Advantest Corp        Tue, Jan 27  -----N/A-----        N/A
AMZN   Amazon.com, Inc.      Tue, Jan 27  After the Bell      0.29
ARB    Arbitron Inc.         Tue, Jan 27  Before the Bell     0.27
ASN    Archstone-Smith Trust Tue, Jan 27  Before the Bell     0.42
ARMHY  ARM Hldgs Plc.        Tue, Jan 27  Before the Bell     0.02
AJG    Arthur J. Gallagher   Tue, Jan 27  After the Bell      0.53
AV     Avaya                 Tue, Jan 27  After the Bell      0.05
AVY    Avery Dennison Corp   Tue, Jan 27  During the Market   0.59
AVX    AVX Corp              Tue, Jan 27  Before the Bell    -0.04
BN     Banta Corp            Tue, Jan 27  After the Bell      0.66
BZH    Beazer Homes USA Inc. Tue, Jan 27  Before the Bell     3.17
BMC    BMC Software          Tue, Jan 27  Before the Bell     0.17
BXP    Boston Prop           Tue, Jan 27  After the Bell      1.00
BRCM   Broadcom              Tue, Jan 27  After the Bell      0.16
BNI    Brlngtn No Snt Fe Crp Tue, Jan 27  Before the Bell     0.57
CCJ    Cameco                Tue, Jan 27  -----N/A-----        N/A
CP     Can Pacific Railway   Tue, Jan 27  Before the Bell     0.59
CAT    Caterpillar Inc.      Tue, Jan 27  Before the Bell     0.94
CTC    Co de Telede Chile S.ATue, Jan 27  After the Bell      0.05
CFC    Countrywide Finl Corp Tue, Jan 27  Before the Bell     2.71
CSX    CSX                   Tue, Jan 27  Before the Bell     0.60
CMI    Cummins Inc.          Tue, Jan 27  Before the Bell     0.97
CYMI   Cymer, Inc.           Tue, Jan 27  After the Bell      0.00
XRAY   DENTSPLY Intl Inc.    Tue, Jan 27  After the Bell      0.59
DJ     Dow Jones & Co Inc.   Tue, Jan 27  Before the Bell     0.41
DST    DST Systems           Tue, Jan 27  After the Bell      0.46
DD     DuPont                Tue, Jan 27  Before the Bell     0.25
ELNK   EarthLink             Tue, Jan 27  Before the Bell     0.09
ERTS   Electronic Arts       Tue, Jan 27  After the Bell      1.20
EFII   Elec for Imaging      Tue, Jan 27  After the Bell      0.25
EOC    Empresa Nacl Elect SA Tue, Jan 27  -----N/A-----       0.09
ELX    Emulex                Tue, Jan 27  After the Bell      0.22
ENB    Enbridge Inc.         Tue, Jan 27  After the Bell       N/A
EN     Enel S.p.A.           Tue, Jan 27  -----N/A-----        N/A
ESA    Extended Stay Am, Inc Tue, Jan 27  After the Bell      0.01
FISV   Fiserv                Tue, Jan 27  After the Bell      0.42
FLEX   Flextronics           Tue, Jan 27  After the Bell      0.14
GNTX   Gentex                Tue, Jan 27  Before the Bell     0.35
HMY    Harmony Gold Mining   Tue, Jan 27  Before the Bell     0.00
HRS    Harris                Tue, Jan 27  After the Bell      0.49
HCP    Health Care Property  Tue, Jan 27  Before the Bell     0.92
IMN    Imation Corp.         Tue, Jan 27  Before the Bell     0.50
IMO    Imperial Oil Limited  Tue, Jan 27  -----N/A-----        N/A
IR     Ingersoll-Rand Co Ltd Tue, Jan 27  Before the Bell     1.05
KFT    Kraft Foods           Tue, Jan 27  After the Bell      0.50
KYPH   Kyphon, Inc.          Tue, Jan 27  After the Bell      0.07
LMT    Lockheed Martin       Tue, Jan 27  Before the Bell     0.76
MRO    Marathon Oil Corp     Tue, Jan 27  Before the Bell     0.68
WFR    MEMC Elect Materials  Tue, Jan 27  -----N/A-----       0.13
MNT    Mentor                Tue, Jan 27  After the Bell      0.27
MENT   Mentor Graphics       Tue, Jan 27  -----N/A-----       0.31
MRK    Merck & Co., Inc.     Tue, Jan 27  Before the Bell     0.62
MDP    Meredith Corp         Tue, Jan 27  Before the Bell     0.37
MLNM   Millennium Pharm      Tue, Jan 27  After the Bell     -0.31
NCR    NCR Corp              Tue, Jan 27  Before the Bell     0.80
NNDS   NDS Grp PLC           Tue, Jan 27  Before the Bell     N/A
OI     Owens Illinois        Tue, Jan 27  After the Bell      0.17
PTNR   Partner Comm          Tue, Jan 27  Before the Bell      N/A
PBG    Pepsi Bottling Grp    Tue, Jan 27  Before the Bell     0.28
PMI    PMI Grp               Tue, Jan 27  Before the Bell     0.81
PPP    Pogo Producing        Tue, Jan 27  Before the Bell     0.89
PEG    PSEG                  Tue, Jan 27  Before the Bell     0.68
DGX    Quest Diagnostics     Tue, Jan 27  Before the Bell     0.99
RJR    R.J. Reynolds Tobacco Tue, Jan 27  Before the Bell     1.06
RTN    Raytheon              Tue, Jan 27  Before the Bell     0.52
RHI    Robert Half Intl      Tue, Jan 27  After the Bell      0.03
ROK    Rockwell Automation   Tue, Jan 27  Before the Bell     0.27
COL    Rockwell Collins, Inc Tue, Jan 27  Before the Bell     0.32
SBC    SBC Communications    Tue, Jan 27  Before the Bell     0.34
SSD    Simpson Manufacturing Tue, Jan 27  After the Bell      0.52
SLG    SL Green Realty       Tue, Jan 27  After the Bell      0.88
SSCC   Smurfit-Stone Cntnr   Tue, Jan 27  Before the Bell    -0.08
TSFG   South Finl Grp Inc    Tue, Jan 27  Before the Bell     0.45
SUSQ   Susquehanna Bncshrs   Tue, Jan 27  -----N/A-----       0.37
SWFT   Swift Transportation  Tue, Jan 27  After the Bell      0.31
SY     Sybase                Tue, Jan 27  Before the Bell     0.31
SYD    Sybron Dntl Spcl      Tue, Jan 27  Before the Bell     0.28
TECH   Techne                Tue, Jan 27  Before the Bell     0.29
MHP    The McGraw-Hill Co    Tue, Jan 27  Before the Bell     0.75
NYT    The New York Times Co Tue, Jan 27  Before the Bell     0.70
SMG    The Scotts Co         Tue, Jan 27  Before the Bell    -1.45
TRP    TransCanada Corp      Tue, Jan 27  -----N/A-----        N/A
UDI    United Defense Ind    Tue, Jan 27  Before the Bell     0.50
VLO    Valero Energy Corp.   Tue, Jan 27  Before the Bell     0.97
EYE    VISX Inc.             Tue, Jan 27  After the Bell      0.14
XRX    Xerox Corp            Tue, Jan 27  Before the Bell     0.15
ZION   Zions Banc            Tue, Jan 27  After the Bell      1.07


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

ABY    Abitibi-Consolidated  Wed, Jan 28  Before the Bell      N/A
ATVI   Activision            Wed, Jan 28  After the Bell      0.66
AMG    Affiliated Mngrs Grp  Wed, Jan 28  -----N/A-----       1.29
AFFX   Affymetrix            Wed, Jan 28  After the Bell      0.23
ATG    AGL Resources         Wed, Jan 28  -----N/A-----       0.44
ARG    Airgas                Wed, Jan 28  After the Bell      0.26
AGN    Allergan              Wed, Jan 28  -----N/A-----       0.67
ADS    Alliance Data Sys CorpWed, Jan 28  -----N/A-----       0.24
MO     Altria Grp, Inc.      Wed, Jan 28  During the Market   1.06
AWC    ALUMINA LTD           Wed, Jan 28  -----N/A-----       0.29
ABK    Ambac Finl Grp        Wed, Jan 28  Before the Bell     1.39
AHC    Amerada Hess          Wed, Jan 28  Before the Bell     0.98
AME    AMETEK Inc.           Wed, Jan 28  Before the Bell     0.71
AMKR   Amkor Technology, Inc Wed, Jan 28  After the Bell      0.10
ABI    Applied Biosystems    Wed, Jan 28  Before the Bell     0.23
ACI    ARCH COAL INC         Wed, Jan 28  Before the Bell     0.10
ARM    ArvinMeritor, Inc.    Wed, Jan 28  Before the Bell     0.30
ASKJ   Ask Jeeves            Wed, Jan 28  After the Bell      0.11
ACLS   Axcelis Technologies  Wed, Jan 28  After the Bell      0.02
BCR    C.R. Bard, Inc.       Wed, Jan 28  After the Bell      1.01
CDN    Cadence Design SystemsWed, Jan 28  After the Bell      0.23
CNI    Canadian Natl Railway Wed, Jan 28  -----N/A-----       1.10
CRA    Celera Genomics       Wed, Jan 28  Before the Bell    -0.30
CEY    Certegy               Wed, Jan 28  Before the Bell     0.49
CHIR   Chiron                Wed, Jan 28  After the Bell      0.29
CNXT   Conexant Systems Inc. Wed, Jan 28  After the Bell      0.04
COP    ConocoPhillips        Wed, Jan 28  Before the Bell     1.43
CNX    CONSOL Energy         Wed, Jan 28  Before the Bell    -0.17
CAM    Cooper Cameron        Wed, Jan 28  Before the Bell     0.52
COCO   Corinthian Colleges   Wed, Jan 28  -----N/A-----       0.45
CFR    Cullen/Frost Bankers  Wed, Jan 28  Before the Bell     0.61
CYTC   Cytyc Corp            Wed, Jan 28  After the Bell      0.17
DBD    Diebold               Wed, Jan 28  Before the Bell     0.80
DTC    Domtar Inc.           Wed, Jan 28  -----N/A-----        N/A
DCLK   DoubleClick           Wed, Jan 28  After the Bell      0.02
DRE    Duke Realty Corp      Wed, Jan 28  After the Bell      0.65
EGN    Energen               Wed, Jan 28  After the Bell      0.61
ENI    Enersis SA ADS        Wed, Jan 28  -----N/A-----       0.06
ESV    ENSCO Intl            Wed, Jan 28  Before the Bell     0.17
EXC    Exelon Corp           Wed, Jan 28  -----N/A-----       1.08
FHR    Farmnt Hot Resrt Inc. Wed, Jan 28  -----N/A-----      -0.08
FNF    Fidelity Natl Finl    Wed, Jan 28  Before the Bell     1.28
FMD    First Marblehead      Wed, Jan 28  Before the Bell     0.56
FDRY   Foundry Networks      Wed, Jan 28  -----N/A-----       0.16
FBN    Furniture Brands      Wed, Jan 28  After the Bell      0.40
GGB    Gerdau S.A.           Wed, Jan 28  -----N/A-----       0.96
GSF    GlobalSantaFe Corp.   Wed, Jan 28  Before the Bell     0.07
HAR    Harman Intl Ind       Wed, Jan 28  -----N/A-----       0.55
HIG    Hartford Finl Serv    Wed, Jan 28  After the Bell      1.46
HSY    Hershey Foods Corp    Wed, Jan 28  Before the Bell     1.14
INGR   Intergraph            Wed, Jan 28  After the Bell      0.08
IFF    Intl Flav Fragrances  Wed, Jan 28  Before the Bell     0.46
ISIL   Intersil Corp         Wed, Jan 28  After the Bell      0.18
JDSU   JDS Uniphase Corp     Wed, Jan 28  After the Bell     -0.02
KMT    Kennametal Inc.       Wed, Jan 28  Before the Bell     0.31
KMG    Kerr-McGee            Wed, Jan 28  Before the Bell     0.83
LSTR   Landstar System       Wed, Jan 28  Before the Bell     0.47
LEG    Leggett & Platt       Wed, Jan 28  After the Bell      0.23
LSI    LSI Logic             Wed, Jan 28  After the Bell      0.04
MKC    McCormick & Co, Inc.  Wed, Jan 28  Before the Bell     0.61
MEG    Media General         Wed, Jan 28  Before the Bell     0.96
MRBK   Mercantile Bankshares Wed, Jan 28  Before the Bell     0.68
MEOH   Methanex              Wed, Jan 28  -----N/A-----       0.22
MGG    MGM MIRAGE            Wed, Jan 28  Before the Bell     0.29
NJR    New Jersey Resources  Wed, Jan 28  Before the Bell     0.87
NYB    New York Comm Banc    Wed, Jan 28  Before the Bell     0.57
NSC    Norfolk Southern Corp Wed, Jan 28  Before the Bell     0.37
NCX    NOVA Chemicals        Wed, Jan 28  Before the Bell    -0.28
NFI    Novastar Finl         Wed, Jan 28  After the Bell       N/A
OGE    OGE Energy            Wed, Jan 28  Before the Bell    -0.08
PKI    PerkinElmer           Wed, Jan 28  After the Bell      0.22
PLCM   Polycom Incorp        Wed, Jan 28  -----N/A-----       0.15
PX     Praxair Inc           Wed, Jan 28  Before the Bell     0.47
PG     Procter & Gamble Co   Wed, Jan 28  Before the Bell     1.28
PHM    Pulte Homes Inc.      Wed, Jan 28  After the Bell      1.88
QSFT   Quest Software Inc.   Wed, Jan 28  After the Bell      0.09
RYN    Rayonier Inc.         Wed, Jan 28  After the Bell      0.07
RDA    READERS DIGEST ASSN   Wed, Jan 28  Before the Bell     0.80
RBK    Reebok                Wed, Jan 28  Before the Bell     0.41
REG    REGENCY CTRS CORP     Wed, Jan 28  After the Bell      0.90
SEE    Sealed Air            Wed, Jan 28  -----N/A-----       0.72
SIRI   Sirius Satellite RadioWed, Jan 28  -----N/A-----      -0.11
SON    Sonoco Products       Wed, Jan 28  Before the Bell     0.31
SNE    Sony Corp             Wed, Jan 28  Before the Bell      N/A
STTS   ST Assembly Test Serv Wed, Jan 28  After the Bell     -0.01
STJ    St. Jude Medical, Inc Wed, Jan 28  Before the Bell     0.47
STM    STMicroelectronics    Wed, Jan 28  After the Bell      0.16
TWX    Time Warner Inc.      Wed, Jan 28  Before the Bell     0.15
TRB    Tribune               Wed, Jan 28  Before the Bell     0.64
TUP    Tupperware            Wed, Jan 28  Before the Bell     0.49
UGI    UGI                   Wed, Jan 28  Before the Bell     0.84
VAR    Varian Medical Sys    Wed, Jan 28  After the Bell      0.37
VARI   Varian, Inc.          Wed, Jan 28  -----N/A-----       0.40
VVC    Vectren Corp          Wed, Jan 28  After the Bell      0.58
VRTS   VERITAS Software Corp Wed, Jan 28  After the Bell      0.24
WLP    WellPoint Hlth Ntwrk  Wed, Jan 28  After the Bell      1.71
WGL    WGL Hldgs             Wed, Jan 28  After the Bell      0.80
WWY    Wm. Wrigley Jr. Co.   Wed, Jan 28  -----N/A-----       0.53
XEL    Xcel Energy           Wed, Jan 28  Before the Bell     0.27


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

SE     7-Eleven              Thu, Jan 29  Before the Bell     0.05
ALB    Albemarle Corp        Thu, Jan 29  -----N/A-----       0.38
ALGN   Align Technology      Thu, Jan 29  Before the Bell     0.04
AC     Alliance Cap Mgmt HldgThu, Jan 29  After the Bell      0.61
AFC    Allmerica Finl        Thu, Jan 29  After the Bell      0.28
ATH    Anthem, Inc.          Thu, Jan 29  Before the Bell     1.38
APA    Apache Corp           Thu, Jan 29  Before the Bell     0.84
ASCL   Ascential Software    Thu, Jan 29  After the Bell      0.08
AZN    AstraZeneca PLC       Thu, Jan 29  Before the Bell     0.40
AVID   Avid Technology, Inc. Thu, Jan 29  After the Bell      0.46
AVT    Avnet                 Thu, Jan 29  After the Bell      0.18
BLL    Ball Corp             Thu, Jan 29  Before the Bell     0.71
BOL    Bausch & Lomb         Thu, Jan 29  Before the Bell     0.79
BAX    BAXTER INTL INC       Thu, Jan 29  Before the Bell     0.61
BDX    Becton, Dickinson     Thu, Jan 29  Before the Bell     0.47
BDK    Black & Decker Corp   Thu, Jan 29  Before the Bell     1.27
BOW    Bowater Incorp        Thu, Jan 29  Before the Bell    -0.76
BMY    Bristol-Myers Squibb  Thu, Jan 29  -----N/A-----       0.39
BC     Brunswick Corp        Thu, Jan 29  Before the Bell     0.39
CZR    Caesars Entertainment Thu, Jan 29  -----N/A-----       0.05
CAJ    Canon                 Thu, Jan 29  Before the Bell      N/A
CLS    Celestica             Thu, Jan 29  After the Bell     -0.04
CELG   Celgene Corp.         Thu, Jan 29  Before the Bell     0.06
CHRT   Chartered Semi Manu   Thu, Jan 29  After the Bell     -0.16
CNET   CNET Networks         Thu, Jan 29  After the Bell      0.02
CCE    Coca-Cola Enterprises Thu, Jan 29  Before the Bell     0.13
COLM   Columbia Sportswear   Thu, Jan 29  -----N/A-----       0.77
CFB    Commercial Federal    Thu, Jan 29  Before the Bell     0.50
CPO    Corn Products Intl    Thu, Jan 29  Before the Bell     0.54
COT    Cott Corp             Thu, Jan 29  Before the Bell     0.21
DHR    Danaher               Thu, Jan 29  Before the Bell     0.95
DLX    Deluxe Corp           Thu, Jan 29  Before the Bell     0.82
DO     Diamnd Offshre Drllng Thu, Jan 29  Before the Bell    -0.03
DUK    Duke Energy Corp      Thu, Jan 29  Before the Bell     0.13
DQE    Duquesne Light Hldgs  Thu, Jan 29  After the Bell      0.18
DYN    Dynegy Inc.           Thu, Jan 29  Before the Bell    -0.15
EMN    Eastman Chemical Co   Thu, Jan 29  After the Bell      0.02
LLY    Eli Lilly             Thu, Jan 29  Before the Bell     0.67
XOM    ExxonMobil Corp       Thu, Jan 29  -----N/A-----       0.58
FTI    Fmc Technologies, Inc Thu, Jan 29  After the Bell      0.36
GTW    Gateway, Inc.         Thu, Jan 29  After the Bell     -0.15
GILD   Gilead Sciences       Thu, Jan 29  After the Bell      0.42
GSPN   GlobespanVirata, Inc. Thu, Jan 29  -----N/A-----       0.06
GFI    Gold Fields Limited   Thu, Jan 29  -----N/A-----       0.08
GLK    Great Lakes Chemical  Thu, Jan 29  -----N/A-----       0.05
GDT    Guidant               Thu, Jan 29  Before the Bell     0.58
HAL    Halliburton Co        Thu, Jan 29  Before the Bell     0.32
HSC    Harsco Corp           Thu, Jan 29  Before the Bell     0.57
HHS    Harte-Hanks           Thu, Jan 29  Before the Bell     0.28
HR     Healthcare Realty TrstThu, Jan 29  After the Bell      0.69
HON    Honeywell             Thu, Jan 29  Before the Bell     0.47
HON    Honeywell             Thu, Jan 29  Before the Bell     0.47
IKN    Ikon Office Solutions Thu, Jan 29  Before the Bell     0.19
ITW    Illinois Tool Works   Thu, Jan 29  Before the Bell     0.91
IGL    IMC Global            Thu, Jan 29  Before the Bell    -0.17
NDE    IndyMac Banc, Inc.    Thu, Jan 29  Before the Bell     0.76
IRF    Intl Rectifier        Thu, Jan 29  After the Bell      0.34
JBLU   JetBlue Airways       Thu, Jan 29  Before the Bell     0.17
K      Kellogg Co.           Thu, Jan 29  Before the Bell     0.46
KRON   Kronos Incorp         Thu, Jan 29  After the Bell      0.23
LANC   Lancaster Colony Corp Thu, Jan 29  Before the Bell     0.75
LEXR   Lexar Media           Thu, Jan 29  After the Bell      0.16
LYO    Lyondell Petrochem Co Thu, Jan 29  Before the Bell    -0.42
MMP    Mglln Mdstrm Part L.P.Thu, Jan 29  Before the Bell     0.72
MAN    Manpower              Thu, Jan 29  Before the Bell     0.53
MKL    MARKEL CORP           Thu, Jan 29  -----N/A-----       4.14
MEE    Massey Energy Co      Thu, Jan 29  After the Bell     -0.19
MYG    Maytag                Thu, Jan 29  Before the Bell     0.52
MWV    MeadWestvaco          Thu, Jan 29  Before the Bell     0.05
MEDI   MedImmune             Thu, Jan 29  Before the Bell     0.33
MCRL   Micrel Semi           Thu, Jan 29  After the Bell      0.03
MYL    Mylan Laboratories    Thu, Jan 29  Before the Bell     0.28
NFG    Natl Fuel Gas Co      Thu, Jan 29  After the Bell      0.51
NIPNY  NEC (ADR)             Thu, Jan 29  -----N/A-----        N/A
NWL    Newell Rubbermaid     Thu, Jan 29  Before the Bell     0.38
NMR    Nomura Hldgs, Inc.    Thu, Jan 29  -----N/A-----        N/A
NT     Nortel Networks       Thu, Jan 29  -----N/A-----       0.02
NBP    Northern Border Part  Thu, Jan 29  After the Bell      0.63
NUE    Nucor                 Thu, Jan 29  Before the Bell     0.15
ORI    Old Republic Intl     Thu, Jan 29  -----N/A-----       0.63
OLN    Olin                  Thu, Jan 29  After the Bell     -0.04
PCBC   Pacific Cap Banc      Thu, Jan 29  Before the Bell     0.38
PTEN   Patterson-UTI Energy  Thu, Jan 29  -----N/A-----       0.24
BTU    Peabody Energy Corp.  Thu, Jan 29  Before the Bell     0.36
PSFT   PeopleSoft            Thu, Jan 29  After the Bell      0.20
PCZ    Petro-Canada          Thu, Jan 29  -----N/A-----       1.06
PD     Phelps Dodge          Thu, Jan 29  Before the Bell     0.70
PNW    Pinnacle West Cap CorpThu, Jan 29  -----N/A-----       0.53
PII    Polaris Ind Inc.      Thu, Jan 29  Before the Bell     1.66
PWER   Power-One             Thu, Jan 29  During the Market  -0.06
PCO    Premcor Inc.          Thu, Jan 29  Before the Bell     0.21
RNWK   RealNetworks          Thu, Jan 29  After the Bell     -0.03
RGA    Rensrnc Grp of Am, IncThu, Jan 29  After the Bell      0.84
RCL    Ryl Crbbn Cruises Ltd Thu, Jan 29  -----N/A-----      -0.07
RSAS   RSA Security          Thu, Jan 29  After the Bell      0.10
S      Sears, Roebuck and Co Thu, Jan 29  -----N/A-----       2.02
SEIC   SEI Investments       Thu, Jan 29  Before the Bell     0.33
SO     Southern Co           Thu, Jan 29  Before the Bell     0.17
SFG    StanCorp Finl Grp Inc Thu, Jan 29  Before the Bell     1.28
STN    Station Casinos       Thu, Jan 29  Before the Bell     0.40
SYK    Stryker               Thu, Jan 29  After the Bell      0.66
SLF    Sun Life Finl Inc.    Thu, Jan 29  -----N/A-----       0.51
SU     Suncor Energy         Thu, Jan 29  Before the Bell     0.44
TDK    TDK                   Thu, Jan 29  -----N/A-----        N/A
TKLC   Tekelec               Thu, Jan 29  After the Bell      0.10
TNE    Tele No Leste PartS.A Thu, Jan 29  Before the Bell     0.16
TXT    Textron Inc.          Thu, Jan 29  Before the Bell     0.87
BA     The Boeing Co         Thu, Jan 29  Before the Bell     0.46
DOW    The Dow Chemical Co   Thu, Jan 29  Before the Bell     0.29
EL     The Estie Lauder Co   Thu, Jan 29  Before the Bell     0.48
G      The Gillette Co       Thu, Jan 29  Before the Bell     0.35
MNI    The McClatchy Co      Thu, Jan 29  Before the Bell     0.92
SPC    The St. Paul Co Inc.  Thu, Jan 29  Before the Bell     1.03
SWK    The Stanley Works     Thu, Jan 29  Before the Bell     0.70
WPO    The Washington Post CoThu, Jan 29  -----N/A-----       7.55
TAC    TRANSALTA CORP        Thu, Jan 29  Before the Bell      N/A
TSM    TSMC                  Thu, Jan 29  -----N/A-----       0.11
TLRK   Tularik Inc.          Thu, Jan 29  Before the Bell    -0.45
UMBF   UMB Finl              Thu, Jan 29  -----N/A-----       0.64
UPS    UNITED PARCEL SERVICE Thu, Jan 29  Before the Bell     0.69
USTR   United Stationers Inc Thu, Jan 29  After the Bell      0.63
UPM    UPM-Kymmene Grp       Thu, Jan 29  Before the Bell     0.17
USFC   USFreightways Corp.   Thu, Jan 29  After the Bell      0.49
VSEA   Vrn Semi Eqpmnt Assoc Thu, Jan 29  After the Bell      0.10
VRSN   VeriSign, Inc.        Thu, Jan 29  After the Bell      0.13
VZ     Verizon               Thu, Jan 29  Before the Bell     0.56
VVI    Viad Corp             Thu, Jan 29  -----N/A-----       0.22
WPL    W.P. Stewart & Co     Thu, Jan 29  Before the Bell     0.28
WDR    Waddell & Reed Finl,  Thu, Jan 29  Before the Bell     0.32
WAT    Waters Corp           Thu, Jan 29  Before the Bell     0.47
WPS    WPS Resources         Thu, Jan 29  After the Bell      0.70
YELL   Yellow Roadway Corp   Thu, Jan 29  After the Bell      0.78


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

ALE    Allete                Fri, Jan 30  Before the Bell     0.37
LNT    Alliant Energy        Fri, Jan 30  Before the Bell     0.53
APC    Anadarko Petroleum    Fri, Jan 30  Before the Bell     1.17
AU     Anglogold Limited     Fri, Jan 30  Before the Bell     0.32
ADM    Archer Daniels MidlandFri, Jan 30  Before the Bell     0.26
BEC    Beckman Coulter       Fri, Jan 30  Before the Bell     0.90
CVX    ChevronTexaco         Fri, Jan 30  Before the Bell     1.58
CEG    Cnstlltn Energy Grp   Fri, Jan 30  Before the Bell     0.60
EQT    Equitable Resources   Fri, Jan 30  Before the Bell     0.78
FUJIY  Fuji Photo Film       Fri, Jan 30  -----N/A-----        N/A
GMT    GATX Corp             Fri, Jan 30  Before the Bell     0.31
HEW    Hewitt Assoc          Fri, Jan 30  Before the Bell     0.30
KYO    Kyocera Corp          Fri, Jan 30  -----N/A-----        N/A
MXICY  Macronix Intl         Fri, Jan 30  -----N/A-----        N/A
HCR    Manor Care Inc        Fri, Jan 30  Before the Bell     0.42
NBR    Nabors Ind            Fri, Jan 30  Before the Bell     0.42
NHP    Nationwide Hlth Prop  Fri, Jan 30  Before the Bell     0.41
NI     NiSource              Fri, Jan 30  Before the Bell     0.56
OCENY  Oci N.V.              Fri, Jan 30  -----N/A-----        N/A
PIO    Pioneer Corp          Fri, Jan 30  -----N/A-----        N/A
SII    Smith Intl, Inc.      Fri, Jan 30  Before the Bell     0.39
TROW   T. Rowe Price         Fri, Jan 30  -----N/A-----       0.52
X      United States Steel   Fri, Jan 30  -----N/A-----      -0.31
WFT    Weatherford Intl      Fri, Jan 30  Before the Bell     0.35
WEN    Wendy's Intl          Fri, Jan 30  -----N/A-----       0.54
WIN    Winn-Dixie Stores     Fri, Jan 30  Before the Bell     0.09


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

Symbol  Co Name              Ratio    Payable     Executable

MRX     Medicis Pharmaceutical    3:2      Jan  23rd   Jan  26th
THO     Thor Ind Inc              2:1      Jan  26th   Jan  27th
CHDX    Chindex Intl Inc          2:1      Jan  26th   Jan  27th
MSA     Mine Safety Appliances Co 3:1      Jan  28th   Jan  29th
YAJC    YAK Communications, Inc   2:1      Jan  29th   Jan  30th
HOFT    Hooker Furniture Corp, Inc2:1      Jan  30th   Feb   2nd
RMCF    Rocky Mountain Chocolate  N/A      Feb   1st   Feb   2nd
PROV    Provident Financial Hldgs 3:2      Feb   2nd   Feb   3rd
PCAR    Paccar Inc                3:2      Feb   5th   Feb   6th
JST     Jinpan Intl Limited       2:1      Feb   6th   Feb   9th


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

This coming week is all about earnings as the downpour becomes
a monsoon of announcements.  Wall Street will also have to digest
a two-day FOMC meeting and a handful of economic reports.


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

----------------
Monday, 01/26/04
----------------
Existing Home Sales (DM)   Dec  Forecast:   6.10M  Previous:    6.06M


-----------------
Tuesday, 01/27/04
-----------------
Consumer Confidence (DM)   Jan  Forecast:    95.1  Previous:     91.3


-------------------
Wednesday, 01/28/04
-------------------
Durable Orders (BB)        Dec  Forecast:    2.0%  Previous:    -2.5%
New Home Sales (DM)        Dec  Forecast:   1100K  Previous:    1082K
FOMC Meeting (DM)


------------------
Thursday, 01/29/04
------------------
Initial Claims (BB)      01/23  Forecast:     N/A  Previous:     341K
Employment Cost Index (BB)  Q4  Forecast:    0.9%  Previous:     1.0%
Help Wanted Index (DM)     Dec  Forecast:      40  Previous:       39


----------------
Friday, 01/30/04
----------------
GDP-Adv. (BB)               Q4  Forecast:    4.7%  Previous:     8.2%
Chain Deflator-Adv. (BB)    Q4  Forecast:    1.3%  Previous:     1.6%
Mich Sentiment-Rev. (DM)   Jan  Forecast:   102.5  Previous:    103.2
Chicago PMI (DM)           Jan  Forecast:    61.7  Previous:     59.2


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


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

WM      Washington Mutual Inc      43.80    +0.83
AMX     America Movil              33.13    +0.93
GDW     Golden West Financial     101.90    +1.36
HDI     Harley-Davidson Inc        48.04    +0.63
HNZ     H.J. Heinz Co              35.62    +0.52


---------------------------------------
Breakout to Upside (Stocks $5 to $20)
---------------------------------------

CPWR    Compuware Corp              8.18    +1.36
CPC     Central Parking Corp       17.20    +1.34
SEAC    Seachange International Inc18.19    +1.17


---------------------------------------
Breakout to Upside (Stocks over $20)
---------------------------------------

AVE     Aventis                    73.20    +1.61
SLB     Schlumberger Ltd           60.20    +4.62
WIT     Wipro Ltd (ADS)            55.53    +2.72
INFY    Infosys Technologies (ADS) 93.00    +2.17
BHI     Baker Hughes Inc           35.89    +1.34


-------------------------------------------
Breakout to Downside (Stocks over $20)
-------------------------------------------

BCS     Barclays Plc (ADR)         37.70    -1.20
WY      Weyerhaeuser Co            63.48    -3.11
APD     Air Products & Chemicals   48.24    -1.61
KLAC    KLA-Tenacor Corp           58.47    -2.34
MCK     Mckesson Corp              29.24    -2.24


-----------------------------------------
Recently Overbought With Bearish Signals (Stocks over $20)
-------------------------------------------

ASO     Amsouth Bancorporation     24.26    -0.32
PRE     Partnerre Ltd              58.49    -0.95
WTNY    Whitney Holding Corp       41.03    -1.09
PPDI    Pharmaceutical Prod Dev    29.12    -0.88
TRMB    Trimble Navigation Ltd     39.77    -1.57


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