PremierInvestor.net Newsletter Thursday 02-05-2004 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: The Moment of Truth Market Sentiment: All About Jobs Watch List: NTAP, DTE, MNST, IR ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 02-05-2004 High Low Volume Advance/Decline DJIA 10495.55 + 24.80 10522.52 10453.55 1.96 bln 1703/1513 NASDAQ 2019.56 + 5.40 2031.39 2012.79 1.94 bln 1777/1423 S&P 100 559.61 + 0.74 560.81 557.41 Totals 3480/2936 S&P 500 1128.59 + 2.07 1131.17 1124.44 W5000 10974.04 + 24.50 10998.18 10935.34 RUS 2000 569.54 + 5.51 570.90 564.03 DJ TRANS 2833.59 + 11.50 2843.81 2821.76 VIX 17.71 - 0.16 17.99 17.60 VXO (VIX-O)17.75 + 0.17 18.39 17.66 VXN 26.17 - 0.48 26.81 25.96 Total Volume 4,230M Total UpVol 2,365M Total DnVol 1,809M Total Adv 3900 Total Dcl 3376 52wk Highs 279 52wk Lows 18 TRIN 0.82 NAZTRIN 1.02 PUT/CALL 0.76 ================================================================= =========== Market Wrap =========== The Moment of Truth Friday morning at 8:30 AM is the moment of truth for the markets. At least that is what the talking heads were telling traders all day. It is important but like all things economic the outcome may have already been baked into the cake. Dow Chart - Daily Dow Chart - 30 min Nasdaq Chart - Daily Economics for Thursday put a little more fear into those who were worried about the Nonfarm Payroll report when the Jobless Claims jumped +17,000 to 356,000. This was the first time in four weeks that the number was over 350K. Last weeks claims were revised down -3,000 and analysts theorize weather was the depressing factor. Those snowbound in the prior week finally got out to make claims last week. Ironically the unadjusted claims decreased in 51 states and territories but the total number of weekly claims rose. There are numerous conflicting employment components for the various monthly reports. Some show minor job growth, some show minor job declines. NONE show any significant improvement in job creation. Is this like the emperor's clothes? Nobody can see any jobs but everyone assures us they are there? One analysis suggested that during the two survey weeks for the nonfarm payrolls continuing Jobless Claims fell by 116,000. The payroll survey is done around the 12th of the month. They were suggesting that this would translate into an increase in jobs of +125,000 tomorrow. Dow Jones is expecting +160,000, the street is looking for +175,000 and one analyst on CNBC was expecting +225,000. With estimates all over the map but up significantly from just a couple days ago we are poised again for a potential disappointment. Last month the estimates were also in the same ranges and the number was barely positive at +1,000. Various Fed heads almost promised that those missing jobs would be found in tomorrow's number. This has setup the markets for another failure in confidence. At this point I am not really concerned due to the market action this week. I think cautious traders have already positioned themselves for the worst and are now hoping it is just not as bad as they expect. I think they would be relieved to just have a positive number again. Don't forget the Challenger Layoff report from Monday showed a +26% jump in announced layoffs for the month over the December levels. With the Fed on hold due to the light GDP a blowout number could actually turn up the heat again. Any light number will just be seen as more slow growth and not a real problem. Should the number come in negative I would not only be very surprised but I would expect the market to react negatively. The Productivity report for the 4Q rose by +2.7% according to Thursday's release. Maybe I should say dropped to only +2.7% growth since this was the slowest growth since 2002. The 1Q increased +3.1%, 2Q +6.1% and the 3Q soared +9.5%. The drop back to a realistic number simply showed that the rapid unsustainable pace of growth was just returning to normal. Hours worked rose while unit labor costs fell and this suggests manufacturing will not let price prevent any new hiring. After several days of weakness the major averages managed to close in the green but it was not a stunning performance. The Dow closed under 10500 once again and the Nasdaq closed exactly on its 50 dma at 2019. Traders felt the Wednesday drop was significantly overdone but they were not confident enough to buy stocks before the Jobs report. WMT, HON, KO, IP and BA were the biggest gainers on the Dow and helped overcome losses by IBM. MSFT and INTC were down fractionally and MSFT suffered one additional embarrassment. PFE passed MSFT in terms of market cap pushing MSFT to 3rd place behind GE and PFE. The CSCO depression continued in the big cap techs with CSCO falling to mid-December lows. INTC closed under its 100 dma and under $30. It was the lowest close since Oct-9th. Dell closed at 32.11 and the lowest close since August. Dell is well under its 200 dma at 33.34. With all the majors so severely under water it is amazing the Nasdaq is holding at the 50 dma. We have had two significantly down days on the 28th and again on the 4th. Other than those we have been trading sideways in a consolidation pattern. Treading water for all practical purposes. We still have strong emotional support at 2000 and we are at the uptrend average support that has held since March. The techs have pulled back to their strong support level on decent profit taking to await the jobs report. No big surprise there. Earnings have been good and there is nothing to prevent us from moving higher. Each bounce is sold but each dip is bought and this is the area where consolidation was expected. Just look at the Nasdaq chart above if you have any doubts about support. The SOX has pulled back to its 100 dma at 495 and has held there for two days despite some continued slippage by several chip stocks. This is the key for the Nasdaq. The SOX has not touched the 100 dma since April 2003. This is a major sell off in semiconductors and this is the critical support level. We could see one more dip to horizontal support at 480 but that would be a major break that should be bought. SOX Chart - Daily The Russell-2000 also pulled back to its 50 dma at 564 and rebounded slightly. The Russell has tested the 50 dma six times since March and rebounded each time. This level needs to hold. If we suddenly get a break of the 50dma on the Russell and the 100dma on the SOX then it could be serious. Until that happens I am still in buy the dip mode. Russell Chart - Daily The Dow is consolidating nicely above the 10450 level and has been in the same range for six days. It is still above 10400 support and the 50 dma near 10300. We could easily move up from here or move down slightly with no real damage. The 50-day average has not been tested since Thanksgiving and any real dip could easily retest that 10300 level. The blue chips are holding up the techs and the small caps. This is exactly the reverse from the last two months where the small cap techs lead the charge. We appear to be seeing a rotation from prior high risk leaders and into the defensive blue chips like drugs. Cyclicals like AA, IP, CAT, MMM and DE are being sold on worries that the recovery is slowing. Drugs like MRK, LLY, SGP and PFE are seeing a flood of money as defensive value stocks. They suffered during the recent rally in favor of the techs. Traders are simply rotating funds back into the defensive issues. SGP is at a six month high and PFE hit a new twenty-one month high today. The good news is that this is normal for a new year but just a couple weeks later than usual. The last week of selling has been on significantly lower volume and it appears to be just a normal consolidation period. The next hurdle is the Jobs report on Friday. Regardless of the outcome there will be volatility. Those still wising to sell will probably use any good news to dump stocks. The odds of a sell the news event on are very good despite the results. Personally I think the odds of new job growth over 100,000 are very slim but what I think does not matter. The market will react to the number and how it impacts the recovery scenario and the chances of a Fed rate hike. Friday is immaterial to the larger scheme of things. Monday is the key day for me. How the market responds on Monday to any Friday event will tell us if the rally has any legs left. If traders were focused entirely on earnings there would be no doubt of direction. Over 70% of the S&P have now announced and 67% have beaten estimates. 19% announced inline and only 14% have disappointed. This is very good! Overall earnings are now expected to be in the +27% range or better for the 4Q. This is the second highest in recent history with only 3Q-1993 higher at +30% growth. That quarter's results sent the Dow on a vertical ramp in the 4Q to nearly 4000 in January-1994. Once the 4Q earnings fell short of the miraculous 3Q results the Dow crashed -12% beginning in the last week of January to nearly 3500 by the end of March. It traded sideways for the entire year and did not reach 4000 again until February-1995. If we could use this historical trend as a model it would suggest that the 1Q should ramp to the heavens as traders buy the chance for an even stronger 1Q-2004. Since the comparisons are harder for Q1 than Q4 the odds of a repeat are tougher. The majority of guidance for Q1 has been coming in higher and I suspect that has kept the market from falling under its own weight more than anything else. In about two weeks we will start to get the mid-quarter updates and the beginning of any earnings run for April. That makes the next two weeks very critical. If we can get past the Jobs report the economic calendar next week is fairly light. There is a flurry of reports but none are really important milestones. The bottom line is don't let any negative Jobs commentary on Friday or any negative market reaction bother you. Wait for Monday and let's see how the market responds. If we drop on Monday then be worried. There is a lot of money on the sidelines looking for an entry point and Friday's market action could lure them into the game. The odds are good the Jobs outcome has already been baked into the cake and Monday is the real moment of truth. Enter Passively, Exit Aggressively. Jim Brown Editor =============================== Market Sentiment =============================== All About Jobs - J. Brown The last several days have seen the DJIA churn sideways in anticipation or some might say apprehension of the jobs report due out tomorrow before the opening bell. Current estimates peg January job growth in the range of 150,000-165,000. Whether the result is a blow out or a no show we're expecting some movement in the major averages. The markets did get some help today from Fed governor Ben Bernake. Bernake made some comments midday about the Federal Reserve expecting large job growth "pretty soon". Some chose to believe that means tomorrow's report will be positive. Others suggested that pretty soon may be a hint that tomorrow's report isn't so hot and the job growth may show up in the next couple of months. Investors were also happy to hear the January same-store sales numbers. Overall they were much better than expected. Even the apparel stores, which had been expected to do poorly, turned in strong results. Cold winter weather actually helped move their winter inventory (imagine that!). The International Council of Shopping Centers reported a 5.8% jump in U.S. sales, above their 4.5% forecast. A fundamentally bullish clue for the economy is the confident consumer who opted to splurge at fancy retailers like Neiman Marcus who reported a 15% jump in same-store sales. Market internals were also bullish. The NSYE advance decline line showed winners outpacing losers 15 to 13. On the NASDAQ winners numbered 17 for every 13.6 decliners. Up volume outnumbered down volume on both exchanges. The jobs report tomorrow truly is the market-moving event of the week so prepare for some volatility. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10701 52-week Low : 7416 Current : 10495 Moving Averages: (Simple) 10-dma: 10531 50-dma: 10291 200-dma: 9511 S&P 500 ($SPX) 52-week High: 1155 52-week Low : 788 Current : 1128 Moving Averages: (Simple) 10-dma: 1136 50-dma: 1103 200-dma: 1023 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 795 Current : 1465 Moving Averages: (Simple) 10-dma: 1499 50-dma: 1468 200-dma: 1330 ----------------------------------------------------------------- For the first time in months we've seen the VXO (old vix) break the trend of lower relative highs. This could mark a turning point but like just about everything else, market direction will depend on how investors interpret the job data tomorrow. CBOE Market Volatility Index (VIX) = 17.71 -0.16 CBOE Mkt Volatility old VIX (VXO) = 17.75 +0.17 Nasdaq Volatility Index (VXN) = 26.17 -0.48 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.76 757,792 574,865 Equity Only 0.66 654,226 434,512 OEX 0.84 24,832 20,799 QQQ 1.30 48,878 63,418 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 76.1 + 0 Bull Confirmed NASDAQ-100 70.0 - 2 Bear Alert Dow Indust. 90.0 + 0 Bull Confirmed S&P 500 86.6 + 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: 1.01 21-dma: 1.00 55-dma: 1.03 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 1707 Decliners 1300 1369 New Highs 128 116 New Lows 12 10 Up Volume 1089M 1022M Down Vol. 801M 865M Total Vol. 1898M 1928M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 01/27/04 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 Commercials are beginning to hedge their bullishness from two weeks ago but the changes are mild. In the mean time small traders have become even more bullish with a strong decline in open short positions. Commercials Long Short Net % Of OI 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% 01/27/04 417,089 410,930 6,159 0.7% 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 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% 01/27/04 143,089 87,828 55,261 23.9% 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 In contrast to the larger S&P contracts above, commercial traders dramatically increased their long positions in the e-minis but remain overall net short. Small trader pared back some of their exuberance from the previous weeks. Commercials Long Short Net % Of OI 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%) 01/27/04 291,166 334,618 (43,452) ( 6.9%) 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 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% 01/27/04 154,485 60,556 93,929 43.7% 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 little change to report in the commercial positions while small traders are hedging their bets almost 50/50. Commercials Long Short Net % of OI 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% 01/27/04 43,704 40,951 2,753 3.3% 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 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%) 01/27/04 10,137 10,715 ( 578) ( 2.8%) 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 Commercials have reached their most bullish stance in four weeks on the Dow and in perfect timing the small traders are at their most bearish over the last month. Commercials Long Short Net % of OI 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% 01/27/04 16,536 8,404 8,162 32.7% 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 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%) 01/27/04 7,240 12,372 ( 5,132) (26.2%) 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 --------------------------------- Network Appliance - NTAP - close: 21.48 change: +0.51 WHAT TO WATCH: Weakness in the NASDAQ has pressured NTAP down to strong support in the $20-21 area and the rebound is already underway, without even touching the 200-dma. Another dip near $20 or a breakout over the 50-dma can be used as entry points, looking for a rally back near the $23 resistance level ahead of the company's February 17th earnings report. Chart= --- DTE Energy Company - DTE - close: 38.07 change: -0.28 WHAT TO WATCH: This week has not been kind to shares of DTE, as the stock broke below the 50-dma yesterday and tested the 200-dma at the $38 support level today. If that support gives way, look for a quick slide down to $36 and quite possibly strong support at $35. Use an entry trigger under today's low. Chart= --- Monster Worldwide Inc. - MNST - close: 25.23 change: +1.73 WHAT TO WATCH: It's hard to beat a strong rebound from the 50- dma, unless that rebound comes at the same time as a rebound from the 200-dma. MNST gave such a rebound on Thursday, and it looks like it has begun the rally into next Tuesday's earnings report. It will have to be a quick play and that means using a trigger over today's high. Chart= --- Ingersoll Rand. - IR - close: 65.29 change: +1.19 WHAT TO WATCH: While still unable to break from the short-term downtrend, IR looks like a solid rebound candidate, as it caught a bounce today right at the long-term rising trendline. Consider entries near current levels and target a move back over the $70 level. Use a tight stop just under yesterday's low, just in case the rebound fails. Chart= --- =================== On the RADAR Screen =================== ADSK $26.10 - After drifting sideways for a couple weeks following the breakout over $25, ADSK tested that level as support before today's strong rebound. Look for an entry following a breakout to new highs and target a rally near $30 ahead of the company's earnings report on February 26th. CVC $24.88 - It looks like we're catching CVC just before the fall, as the stock has pulled back to key support and is in the process of breaking down. Use a trigger just under the 1/29 low ($24.69) and target a drop to next support near $22. MKC $30.69 - Right on the cusp of a breakout to new all-time highs, MKC looks like a good breakout candidate due to the past couple months coiling in a tight range between $28.50-30.50. Use a trigger above $30.75 and target a rally to the $35 area. ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to remove@PremierInvestor.net ================================================================= 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 advertising@PremierInvestor.net. ***************************************************************** Copyright ) 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Thursday 02-05-2004 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 ================================================================= Stop Adjustments: None Closed Plays: None Stock Splits: ASD, BWA, MSCC 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) ================================================================= Stop Loss Adjustments ================================================================= None ================================================================= Closed Plays ================================================================= None ================================================================= Stock Splits ================================================================= Announcements ------------- ASD proposes a 3-for-1 stock split Just after lunch time this afternoon American Standard Companies, Inc. (NYSE:ASD) announced that its Board of Directors has approved a 3-for-1 stock split in the form of a stock dividend. The split will require shareholder approval to increase the number of authorized shares. ASD's next annual shareholder meeting will be held on May 4th, 2004 and a proposal to increase the number of authorized shares from 200 million to 560 million will be voted on. Details regarding shareholder record dates and payable dates for the split were not available. About the company: American Standard is a global manufacturer with market-leading positions in three businesses: air conditioning systems and services, sold under the Trane. and American Standard. brands for commercial, institutional and residential buildings; bath and kitchen products, sold under such brands as American Standard. and Ideal Standard.; and vehicle control systems, including electronic braking and air suspension systems, sold under the WABCO. name to the world's leading manufacturers of heavy-duty trucks, buses, SUVs and luxury cars. The company employs approximately 60,000 people and has manufacturing operations in 29 countries. American Standard is included in the S&P 500. (Source: Company Press Release) --- BWA Announces 2-for-1 Split with Earnings This morning before the market's open BorgWarner Inc. (NYSE:BWA) reported fourth quarter earnings of $1.80 per share. Revenues were $798.8 million for the quarter. With their earnings announcement the Board also approved a 2-for-1 stock split. The stock split is subject to shareholder approval to be voted on at their annual meeting on April 21st, 2004. If approved the split will take effect on May 17th, 2004 to shareholders on record as of May 3rd. About the company: BorgWarner Inc. is a product leader in highly engineered components and systems for vehicle powertrain applications worldwide. The company operates manufacturing and technical facilities in 43 locations in 14 countries. Customers include Ford, DaimlerChrysler, General Motors, Toyota, Honda, Hyundai/Kia, Caterpillar, Navistar International, Renault/Nissan, Peugeot and VW/Audi. (Source: Company Press Release) --- Microsemi (MSCC) adjusts payable date for 2-for-1 split As previously announced on January 26th, 2004 MSCC will enact a 2-for-1 split for shareholders on record as of February 6th, 2004. The payable date or ex-dividend date is being adjusted from Feb. 9th to Monday, February 23rd, 2004. About the company: Microsemi is a leading designer, manufacturer and marketer of high performance analog and mixed-signal integrated circuits and high reliability discrete semiconductors. The company's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals. Microsemi's products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance and reliability, battery optimization, reducing size or protecting circuits. The principal markets the company serves include implanted medical, military/aerospace and satellite, notebook computers and monitors, automotive and mobile connectivity applications. (Source: Company Press Release) ================== 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 FRE Freddie Mac 62.80 +0.63 KMB Kimberly Clark 59.86 +0.59 ALL Allstate Corp 45.36 +0.57 GD General Dynamics 95.51 +1.96 CCE Coca-Cola Enterprises 23.30 +0.63 FD Federated Dept Stores 48.91 +0.70 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- PAS PepsiAmericas Inc 18.56 +1.22 AKAM Akamai Technologies 14.50 +3.05 BYD Boyd Gaming Corp 18.24 +2.49 WRNC Warnaco Group Inc 17.50 +1.02 MTRX Matrix Service Co 13.05 +1.10 RATE Bankrate Inc 14.86 +2.51 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- ERICY LM Ericsson Telephone 23.70 +1.17 KSS Kohl's Corp 46.96 +1.87 CB Chubb Corp 72.51 +1.91 STJ St. Jude Medical 72.94 +1.53 ACE Ace Ltd 45.05 +1.59 WFMI Whole Foods Market Inc 71.37 +2.45 RKY Adolph Coors 61.50 +5.58 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- MDT Medtronic 47.25 -4.75 DVN Devon Energy Corp 53.50 -2.88 UCL Unocal Corp 35.22 -1.08 UPL Ultra Petroleum Corp 22.20 -1.69 AAII AAI Pharma 21.24 -6.36 RHB Rehabcare Group 22.40 -1.59 EQIX Equinix Inc 29.50 -3.10 NVEC NVE Corp 46.20 -7.57 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- SYK Stryker Corp 88.13 -1.44 ONXX Onyx Pharmaceuticals 32.26 -1.49 SCHS School Specialty 34.45 -1.29 MCO Moody's Corp 62.10 -1.00 PPL PPL Corp 45.08 -0.73 ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to remove@PremierInvestor.net ================================================================= 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 advertising@PremierInvestor.net. ***************************************************************** Copyright 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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