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Daily Newsletter, Sunday, 02/08/2004

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PremierInvestor.net Newsletter          Weekend Edition 02-08-2004
                                                    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:       Got Chips?
Market Sentiment:  The Big Bounce
Watch List:        NFLX, FO, FS, VRSN

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
       WE 02-06        WE 01-30        WE 01-23        WE 01-16
DOW    10593.03 +104.96 10488.1 - 80.22 10568.3 - 32.22 +141.62
Nasdaq  2064.01 -  2.14 2066.15 - 57.72 2123.87 - 16.59 + 53.54
S&P-100  566.06 +  5.75  560.31 -  5.10  565.41 +  0.69 +  8.17
S&P-500 1142.76 + 11.63 1131.13 - 10.42 1141.55 +  1.72 + 17.97
W5000  11129.40 +100.20 11029.2 -127.58 11156.8 + 40.74 +187.04
RUT      584.07 +  3.31  580.76 - 15.38  596.14 +  5.73 + 15.21
TRAN    2894.36 +  8.40 2885.96 -186.99 3072.94 + 36.66 + 47.34
VIX       15.99 -  0.64   16.63 +  1.79   14.84 -  0.16 -  1.75
VXO       15.98 -  1.07   17.05 +  2.18   14.87 -  0.40 -  0.67
VXN       24.63 -  0.43   25.06 +  3.79   21.27 +  1.03 -  2.77
TRIN       0.62            1.00            1.15            0.47
Put/Call   0.62            0.81            0.77            0.51
WE = week ending
=================================================================

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

Got Chips?
by Jim Brown

The semiconductor sector cured the Nasdaq from its bout of
profit taking flu with a +4.77% gain on Friday and a total
of +23.68 points. Considering the Nasdaq gained +44 points
you can see where the real strength appeared. Traders who
were dumping chip stocks for the last two weeks suddenly
decided to put that money back to work when the Jobs report
failed to implode.

Dow Chart - Daily


Nasdaq Chart - daily




The Jobs report was neutral with a gain of +112,000 jobs
but that is exactly where we wanted it. Not too hot to
stimulate the Fed to hike rates and not too cold to suggest
the recovery is failing. Yes, the porridge was just right
for the Goldilocks market.

The headline number was below the general consensus estimates
between 125K and 150K and well below many of the outrageous
speculations in the 175k to 225K range. After some initial
volatility traders breathed a sigh of relief and charged
off to buy stocks. It was more of a relief rally than a
rally based on a change in fundamentals.

Looking at the internals there were still some problems.
The manufacturing component showed the 42nd consecutive
monthly loss in manufacturing jobs with a loss of -11,000.
Another benefit came from the seasonal adjustment for
retail jobs. Fewer retail jobs were added at the end of
2003 which meant there were fewer people laid off in
January. After the government adjusted for the normal
seasonality they showed a gain of +76,000 net jobs. It is
unsure whether they were actually gained or just the result
of the over adjustment. Either way they "found" 76,000 jobs
in the retail sector. Maybe they were making up for the
decline of -13,000 jobs in government payrolls for the
month. Professional/business payrolls declined by -22,000
but were offset by health services which rose by the same
number. Leisure services rose by +21,000.

Service industries declined with temporary workers
dropping -21,000. Private non-retail jobs grew by only
+36,000 jobs and less than half the +76,000 December rate.
The unemployment rate fell to 5.6% but the average duration
of unemployment rose to 10.7 weeks. Those out of work more
than a year rose to 22.7%. When you boil down all the
internals it appears the jobless rate is decreasing more
from a slow down in layoffs than an increase in hiring.
The number of unemployed remains at 8.3 million but that
is nearly a million less than the level just six months
ago.

The alternative survey was the goldmine. Home based workers
and 1099 workers increased by +496,000 according to the
report. I hasten to add that these numbers are very suspect
and the government is working to resolve the differences.
Still the markets celebrated the official +112,000 headline
number on the Nonfarm Payroll report with a sigh of relief.
There was such a wide range of whisper numbers from -100K
to +250K that just coming in close to the consensus was
very encouraging.

Bet you did not hear this on the mainstream media. The
government also revised the jobs numbers for the last
seven months and found even more jobs. The total gained
by the revision was only +32,000 but the key point for
me was the cycle. The recent months of Nov and Dec were
revised up while the prior three months were revised down.
That would tend to support the contention that jobs are
growing in the current environment. December was revised
up to 16,000 from 1,000 and November was revised up from
43,000 to 83,000. That is an increase of +55,000 over the
prior two months. When added to the January numbers that
is a +167,000 gain in the last 90 days that was just
disclosed Friday morning. Using the political campaign
method of reporting that blurb will be improved to
"211,000 jobs were created in the last 90 days". I am
surprised this was not more widely reported. Now the
question remains. Whenever they can shuffle the numbers
at will for nearly three quarters and nobody notices is
it a good thing? Since the change was positive it suggests
they could always "find" jobs when needed by "adjusting"
the numbers into a more favorable time frame. But, that
would be a conspiracy and it would never happen, right?

Job Adjustment Table Since June



The just right jobs report gave the bond groupies a new
lease on life and they bought bonds at the open and kept
it up all day. According to the bond bulls the Fed should
be on hold for the rest of 2004. The odds of a May/June
rate hike dropped somewhere in the 18% range and the next
likely target even close to the radar screen became August.
Considering the political implications of a rate hike two
months before the election this is not likely and puts the
Fed on vacation until January. There is a December meeting
but the Fed almost never raises rates the week before
Christmas.

The Jobs report trumped the Fed and opened the window for
another hot spring/summer for the home builders. With Fed
rates still at 45 year lows the real rates for things like
mortgages will not be surging any time soon. This should
help the consumer confidence for the next quarter. There
was another confidence report out Friday from the
Associated Press. They said confidence FELL to 91.7 in
January from 106.3 in December. Unemployment worries
topped the list of consumer concerns. While this is not a
mainline report it suggests the Michigan Sentiment next
Friday could show a decline. The positive Jobs report
will be seen as only a headline by Mom and Pop consumers
and the questionable internals will never be seen. They
should perk up on the news and the market gains from
Friday will not hurt.

The big money tried hard to get the Dow back to 10600
for Friday's close and they almost made it with the 10593
print. The Nasdaq gained +2.2% or +44 points to close at
2063 and well away from the support levels it threatened
to break all week. The winner of course was the SOX. As
I pointed out last week the SOX was the key and it held
support and closed right on the 100 dma on Thursday. The
sector had dropped -10% and was poised for a rebound.
That rebound came on Friday with a +4.77% +23.68 point
gain. Was it just an oversold relief rally or real buying?
I think a little of both as well as some strong short
covering. The jobs disaster failed to appear and shorts
ran for cover. The Russell came in second with a +2.55%
gain of +14.50 points and performed a perfect rebound
off its 50 dma.

SOX Chart - Daily


Russell-2000 Chart



The internals were unbelievably strong with advancers
beating decliners 3:1 and advancing volume 5:1 over
declining volume. Unfortunately volume was very light with
barely 1.8B on the Nasdaq and 1.4B on the NYSE. The light
volume was probably due to major events occurring over the
weekend. The G7 is meeting and while nothing material is
expected to happen it is still a potential powder keg.
Also, President Bush is going to be on Meet the Press for
a full hour on Sunday and you can bet Tim Russert will
ask some pointed questions. Again, I expect no smoking
gun but it will definitely be a risk. These events made
some traders think twice before making big bets on Friday.

For next week the economic reports are minimal with no
important releases. The biggest challenge will be the
Greenspan testimony to Congress on Wed/Thr and will
give him the opportunity to correct any misunderstanding
about the current Fed stance. Don't hold your breath.
He typically does not divulge much real information but
the potential exists for a slip of the tongue and the
markets will be cautious until this event passes.

Traders will also be watching the bonds with over $60
billion in new supply coming to market. The consensus
of opinion also suggests the dollar will be under
pressure again on Monday after a successful G7 meeting
with no material announcements. That produces a mixed
bag of blessings with the weak dollar providing an
earnings boost to most companies doing business overseas.
Of course the administration supports a strong dollar,
wink, wink.

Despite the pullback in techs over the last two weeks
investors are still pouring money into the market. AMG
Data said that as of Wednesday over $24 billion had moved
into equity funds for the year. Five weeks and over $4B
per week. That is a pretty good clip considering how high
the indexes are after the 4Q rally. That rally is being
called the flight to garbage rally due to the inversion
of normal values. Stocks graded by Schwab with an "F"
outperformed stocks they had graded an "A". Stocks with
an S&P rating of one star out performed stocks with their
five star rating. I mentioned last week we were seeing a
rotation out of those stocks and back into blue chips.
The Friday rebound was clearly on the back of those same
small cap tech names with big cap stocks like IBM and
MSFT up only fractionally while GE was down for the day.
This was a retail investor rally and they partied with
their old favorites instead and let those new found
friends walk home.

Where are we going now? I told you on Thursday that I
thought Friday was a throw away day. It was going to be
reaction driven and I thought any negative news was
already baked into the cake. That prediction turned out
to be correct with the mediocre jobs number providing a
big gain in techs. I did not say "strong" relief rally
because the volume was less than exciting. At 4B it is
about -20% below recent market ramp days. When we were
setting new highs two weeks ago we had many 5B days in
succession. Still the internals were strong and I am
chalking up the light volume to the weekend events. I
suggested we monitor Monday as the moment of truth and
I still believe it. If we do not get a news event over
the weekend that moves the markets then the Monday
direction will be the key for the week.

I would not be surprised to see a drop at the open as
shorts squeezed out on Friday try to take it down again.
If there is no bad news then I expect that dip to be
bought but not in volume. This is the pivot week for
the quarter. It is the week before option expiration
and earnings are about over but it is too early for
mid-quarter updates. There will be a shortage of stock
events to move the market and an excess of face time
by Greenspan on TV.

What I would like to see is another week of consolidation
at this higher level. The Dow now has some breathing room
above 10450 support and could easily trend sideways in
a higher range above 10500. The longer we hold the higher
ground the better chance of making new highs once the
mid-quarter estimates start flowing. The Nasdaq is now
well above its 50 dma support at 2021 and has some room
to breathe of its own. If we can hold over 10500/2020 all
next week we should be in good shape for an April earnings
run. We are not out of the woods yet but that may be
daylight up ahead. We dodged several large bullets last
week with a successful Super Bowl and a positive Jobs
report. Greenspan is now the hurdle for this week. Monday
should be the key and another positive day would give us
a nice cushion to wait out the Greenspan speech. A word
of caution, February is normally a consolidation month.
Since we have not seen normal in a long time I do not
know if that trend will continue but that makes Monday
even more critical as a directional indicator.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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

The Big Bounce
- J. Brown

No, I'm not talking about the movie in theaters titled the Big
Bounce but the recent market action.  The DJIA had been churning
sideways and the NASDAQ was falling ahead of the Friday jobs
report.  As you've probably read numerous times now the jobs
number (at 112,000) was neither too hot, nor too cold.  Investors
interpreted the report as a boon for stocks.  The economy is
growing but not overheating so the Fed should keep interest rates
untouched for the foreseeable future.

Considering the NASDAQ's bounce off the 50-dma just above the
2000 level and the DJIA's rally off short-term support above
10,400 we could see bullish week in front of us.  It is
interesting that while the markets have generally traded sideways
or pull back in profit taking (depending on what sector your look
at) for the last two weeks investors have continued to pour money
into stock funds.  That should mean managers have plenty of cash
to put to use and buy this dip.

Buyers were certainly out in force on Friday.  Market internals
were very strong.  Advancing stocks out paced decliners by more
than 4-to-1 on the NYSE and more than 3-to-1 on the NASDAQ.  Up
volume was almost 7 times down volume on the NYSE and about five
times down volume on the NASDAQ.  Not one sector index closed in
the red on Friday making it a very broad-based bounce.

The biggest performers were the homebuilders, gold & silver
stocks and the semiconductors.  All three were up more than four
percent on Friday.  The homebuilders are noteworthy because the
jobs number puts the Fed on hold and that will keep mortgage
rates down.  The DJUSHB index broke through resistance at the 50-
dma and its technical oscillators look bullish.  Gold stocks were
strong again because the dollar took a dive ahead of the G7
meeting and gold futures rallied back above the $400 an ounce
level.  Semiconductors helped lead the recovery in the NASDAQ
with a huge move off its 100-dma to close back above the 500
level and its simple 50-dma.

The volatility indices collapsed again on Friday's indicating
investor confidence is high.  However, even though bulls appear
to be back in control I do expect some sideways action when
Greenspan makes his appearances this week.  Greenspan is making
his regularly scheduled monetary policy report before congress on
the 11th and before the senate on the 12th this week.

Also look for the official Retail sales numbers on Thursday and
the Michigan Sentiment numbers on Friday.


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

Market Averages

DJIA ($INDU)

52-week High: 10701
52-week Low :  7416
Current     : 10593

Moving Averages:
(Simple)

 10-dma: 10534
 50-dma: 10308
200-dma:  9521

S&P 500 ($SPX)

52-week High: 1155
52-week Low :  788
Current     : 1142

Moving Averages:
(Simple)

 10-dma: 1136
 50-dma: 1105
200-dma: 1024

Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low :  795
Current     : 1498

Moving Averages:
(Simple)

 10-dma: 1496
 50-dma: 1469
200-dma: 1331


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

Looks like the rise in the VIX, VXO and VXN last week was a
false alarm.  All three promptly dropped on Friday's rally.
Of course that means we could have another move higher in the
markets this week.

CBOE Market Volatility Index (VIX) = 16.00 -1.71
CBOE Mkt Volatility old VIX  (VXO) = 15.98 -1.77
Nasdaq Volatility Index (VXN)      = 24.67 -1.50

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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.63        897,646       563,415
Equity Only    0.46        779,861       360,398
OEX            1.17         32,923        38,409
QQQ            1.31         31,825        41,620


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

Bullish Percent Data

           Current   Change   Status
NYSE          76.3    + 0     Bull Confirmed
NASDAQ-100    70.0    + 0     Bear Alert
Dow Indust.   86.7    - 3     Bull Confirmed
S&P 500       87.2    + 1     Bull Confirmed
S&P 100       88.0    + 0     Bull Confirmed


Bullish percent measures the number of stocks in an index
currently trading on a buy signal on their point and figure
chart.  Readings above 70 are considered overbought, and readings
below 30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - Pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend


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

 5-dma: 0.96
10-dma: 0.96
21-dma: 0.99
55-dma: 1.01


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    2306      2301
Decliners     565       772

New Highs     205       162
New Lows        8         3

Up Volume   1571M     1483M
Down Vol.    234M      330M

Total Vol.  1811M     1819M
M = millions


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

Commitments Of Traders Report: 02/03/04

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

Commercial traders can't seem to make up their mind.  Currently,
they're almost flat with a slight edge to the bears.  Meanwhile
the small traders have grown even less bearish.


Commercials   Long      Short      Net     % Of OI
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%
02/03/04      411,920   414,596    (2,676)   (0.3%)

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
01/13/04      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%
02/03/04      141,465    81,926    59,539    26.7%

Most bearish reading of the year:  (1,657)- 5/27/03
Most bullish reading of the year: 114,510 - 3/26/02


E-MINI S&P 500

Commercials have become significantly more bearish by upping
their short positions and closing some bullish ones.  Small
traders are still feeling optimistic.


Commercials   Long      Short      Net     % Of OI
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%)
02/03/04      280,519   346,042    (65,523)  (10.5%)

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
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%
02/03/04     133,293     55,476    77,817    41.2%

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


NASDAQ-100

Commercial traders in the NDX remain in limbo with very
little movement over the last few weeks.  In contrast
small traders have become much more bearish.


Commercials   Long      Short      Net     % of OI
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%
02/03/04       43,600     41,441     2,159    2.5%

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
01/13/04        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%)
02/03/04        8,907    13,729    (4,822)  (21.3%)

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

The shuffling continues for commercial traders in the Dow.
Small traders have become more bearish.


Commercials   Long      Short      Net     % of OI
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%
02/03/04       17,765     9,619    8,146      29.7%

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
01/13/04        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%)
02/03/04        6,352    13,113   (6,761)   (34.7%)

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

Netflix Inc - NFLX - close: 76.63 change: +3.47

WHAT TO WATCH: We'd have to say this is very aggressive and
shares are pretty pricey but NFLX is on the move again.  The
stock gapped higher on its earnings report and has since spent
its time consolidating those gains.  Fortunately, it has filled
the gap and is using the bottom of the gap as support.
Thursday's rally was a nice bounce from the 21-dma and Friday's
rally has broken its short-term trend of lower highs.  The $80
mark is NFLX's next resistance level but odds are good it could
pass it with a 2-for-1 split coming on Feb. 12th.




---

Fortune Brands - FO - close: 71.95 change: +1.55

WHAT TO WATCH: Retail stocks have been reawakened after a strong
round of January same-store sales numbers.  We'll get the
official retail sales figures for January next Thursday.  In the
meantime bulls can keep an eye on FO for a breakout above the
$72.00 level, which has been resistance for several weeks.  We'd
target a move to 78-80 on any break.  Doing some research we
noticed that FO hasn't had a stock split since October of 1990
and shares appear to be trading at all-time highs.  The higher it
goes the stronger odds are of management announcing a split.




---

Four Seasons Hotel - FS - close: 54.83 change: +0.65

WHAT TO WATCH: Something happened two days ago that sparked a
rally in FS and shares broke out over resistance at $53.00.  We
can't find any catalyst other than rival HOT's earnings report on
Thursday.  Traders might want to look for a move over $55.00 or a
dip back to $53.00 and buy the bounce.




---

VeriSign Inc - VRSN - close: 18.19 change: +0.40

WHAT TO WATCH: VRSN might be a worthwhile play should the tech
sector rally again next week.  The stock peaked at $21.00 three
weeks ago and the sell-off stalled at support near its 50-dma.
Now shares are edging back above the $18.00 level and above its
10-dma.  Its MACD is hinting at a bullish reversal while its RSI
and stochastics are already bullish.  Bulls could go long here
with a stop at $17.00 and target a move back to $21.00.





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

IDXX $51.93 +1.03 - It just keeps going and going and... well you
get the picture.  IDXX is up five days in a row.  The breakout
over $50.00 looks good but traders might want to look for a dip
back toward the 50 region.

SFI $40.80 +0.65 - This real estate stock has broken out above
long-term resistance at $40.00.  Traders could go long here with
a stop loss under the $38.00 level.

DADE $37.03 +0.37 - Do you like to trade the channels?  DADE has
a very long-term rising channel.  Every time it pulls back toward
the 40-dma investors step in to buy the dip.  This is a chance to
buy the bottom of the channel.  Use a tight stop.

AMTD $16.50 +0.82 - Online broker AMTD has bounced from the
$15.00 level and has broken its short-term trend of lower highs.
This could be an entry point for a run toward the $18.00 region.

ECLG $22.05 +2.39 - eCollege.com soared on Friday with a 12% gain
and broke resistance at 20.50.  Volume was very strong at 682,000
shares.  We normally don't like to chase big moves but there
isn't much in the way of a run straight to $24.00-25.00 for ECLG.


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Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 02-08-2004
                                                    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
  Closed Bearish Plays:  AMAT, AMD, SMTC

Active Trader (Non-tech)
  New Bullish Plays:     ANN, LIN, SGP
  Closed Bearish Plays:  IACI, LF, VC

High Risk/Reward
  New Bullish Plays:     GSS
  Bearish Play Updates:  NETE

Stock Splits
  Announcements:         None


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

  --------------------
  Closed Bearish Plays
  --------------------

Applied Materials - AMAT - cls: 22.38 chg: +1.02 stop: 23.01

One might have expected AMAT to rally on its new product,
launched on Wednesday, called Black Diamond.  Black Diamond is a
"low-K" film used in chip production that will allow chipmakers
to create faster chips that use less energy.  The term low-k
refers to the film's low conductivity of electricity.  The last
few years have seen semiconductor designers run into problems
with chips overheating or electricity jumping from one line to
another as makers cram more and more circuits into a smaller and
smaller space.  Many see AMAT's Black Diamond film as a tool to
combat these limitations.  Despite the new product roll out AMAT
didn't rally until the SOX rebounded from its 100-dma.  It is
this surge in the SOX back above the 500 level that has us
concerned.  That and news that Tokyo Eletron Ltd, the second-
largest chip equipment maker behind AMAT, just quadrupled their
2004 forecasts.  Goldman Sachs, who recently downgraded the chip
sector, especially the chip equipment makers, may have egg on
their face as the stocks rally again.

We're not going to fight fate.  We're closing this play early and
will probably look for semiconductor stocks to play long.

Picked on January 27 at $21.95
Gain since picked:      + 0.43
Earnings Date         02/18/04 (confirmed)
Average Daily Volume:       29 million



---

Adv. Micro Devices - AMD - close: 14.94 change: +0.77 stop: 16.25

As the Semiconductor index continued to weaken, AMD looked like a
good way to play that developing trend due to its recent lack of
strength.  But to avoid being caught in a bearish play just
before a rebound, we set an entry trigger at $14, just under
recent support.  As it turns out, that was a wise decision, as
even with the SOX continuing to slide lower, the bears just
couldn't push AMD down to hit that trigger before Friday's
rebound materialized.  With the stock posting a more than 5%
bounce on Friday in conjunction with the SOX's nearly 5% advance,
clearly the downside prospects for the stock have been
significantly reduced.  It looks like a double bottom pattern is
forming on the AMD chart, and reading between the lines we can
see that a drop is in order this weekend.

Picked on February 1st at   $14.86
Change since picked          +0.08
Earnings Date              4/20/04 (unconfirmed)
Average Daily Volume =    12.0 mln




---

Semtech Corp. - SMTC - close: 24.64 change: +1.15 stop: 24.10

Holy Cow!  Now that was a big bounce over the past two days,
making us feel pretty smug about the placement of our entry
trigger for the play.  Just on Wednesday, it looked like a
breakdown in progress, with the stock violating key support and
closing below the 100-dma.  The buyers appeared in force first
thing on Thursday morning though and sent the stock sharply
higher on both of the past two sessions, easily pushing back over
the 50-dma and tallying up a nearly 10% 2-day rally.
Fortunately, our entry trigger was never satisfied, keeping us on
the sidelines.  There may be another opportunity to play the
downside in the weeks ahead, but now is clearly the time to
remove the stock from consideration for a bearish play over the
near term.  We're dropping SMTC this weekend to make room for
better candidates.

Picked on February 4th at   $22.50
Change since picked          +2.14
Earnings Date              2/24/04 (confirmed)
Average Daily Volume =    1.17 mln





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

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

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

AnnTaylor Stores - ANN - close: 42.68 change: +1.43 stop: 39.50

Company Description:
Ann Taylor is one of the country's leading women's specialty
retailers, operating 648 stores in 43 states, the District of
Columbia and Puerto Rico, and also an Online Store at
www.anntaylor.com. (source: company press release)

Why We Like It:
January's same-store sales numbers have resurrected the retail
sector while lifting ANN to a new high.  Actually, Wal-Mart
(WMT), the largest retailer on the planet, had a lot to do with
the Retail index's (RLX) recent rally with a five-day winning
streak for WMT but overall same-store sales were generally better
than expected.  ANN's bullish stock movement can be attributed to
its positive earnings warning.  It seems to be a habit for ANN.

A month ago on January 8th, ANN raised its Q4 earnings guidance
for the second time this quarter to 54-56 cents a share, well
above analysts' estimates at 44 cent.  Driving the numbers was a
26% rise in December same-store sales.  On February 5th, ANN did
it again and raised its Q4 EPS guidance to 64-65 cents a share,
still well above new analysts' estimates at 55 cents.  ANN
reported January same-store sales rose 3.7%.

The news sent ANN breaking out above resistance at $42.00 to a
new all-time high on stronger than average volume.  We also like
the bullish P&F chart suggesting a $70 price objective.  Given
that consumer confidence is still high we're going to suggest a
long position in ANN with a month to go before its earnings
report.  Our first target is $47.50 and we'll use a stop loss at
39.50.

Annotated chart:



Picked on February 08 at $42.68
Gain since picked:       + 0.00
Earnings Date          03/09/04 (confirmed)
Average Daily Volume:       790 thousand




---

Linen N Things - LIN - close: 31.64 chg: +1.01 stop: 29.00

Company Description:
Linens 'n Things, with 2003 sales of $2.4 billion, is one of the
leading, national large format retailers of home textiles,
housewares and home accessories. At the end of the 2003 fiscal
year, the Company was operating 440 stores in 45 states and four
provinces across the United States and Canada.
(source: company press release)

Why We Like It:
LIN is another retailer that is also on the move after announcing
its recent earnings report.  Net income rose to $1.02 a share, a
penny better than estimates and up from 90 cents a year ago.  The
company raised its guidance and the stock broke out above
resistance at $30.50 on the news.  We like how shares pulled back
to retest $30.50 as support before rebounding higher again on
Friday.

The breakout also produced a fresh triple-top buy signal on LIN's
point-and-figure chart, which is projecting a $50.00 price
objective.  We believe that traders can play the rally in
retailers with this breakout in LIN or watch for another dip
toward the 31.00-30.75 range.  Our target would be the $35-36
level of resistance as evident on LIN's weekly chart.  We'll
begin the play with a stop loss at $29.00.

Annotated chart:



Picked on February 08 at $31.64
Gain since picked:       + 0.00
Earnings Date          02/04/04 (confirmed)
Average Daily Volume:       557 thousand



---

Schering-Plough - SGP - close: 18.55 change: -0.42 stop: 17.00

Company Description:
Schering-Plough Corporation is engaged in the discovery,
development, manufacturing and marketing of pharmaceutical
products.  The company operates primarily in the prescription
pharmaceutical marketplace.  However, where appropriate, SGP has
sought regulatory approval to switch prescription products to
over-the-counter (OTC) status as a means of extending a product's
life cycle.  The company has grouped its products into three
categories: prescription products; animal health products; and
foot care, OTC and sun care products.  The company's leading
prescription products are its allergy products, Claritin
(loratadine), Claritin D and Claritin Syrup.  The company's
animal health products include Otomax, an otic product; Banamine,
a non-steroidal anti-inflammatory, and Ralgro, a growth promotant
implant.  Its foot care, OTC and sun care products include Clear
Away wart remover, Dr. Scholl's foot care products and Lotrimin
and Tinactin antifungals.


Why we like it:
After a long and painful decline in shares of SGP over the past 3
years, something significant changed in terms of investors'
attitude toward the stock last November.  The stock finally
appears to have put a bottom in near the $14.50 level and ever
since then it has been on a steady and encouraging upward
trajectory.  First climbing over the 50-dma (now at $17.36) and
then the 200-dma (currently $17.04), SGP began to look better to
the long side late last month as the 50-dma finally crossed over
the 50-dma for the first time since early 2001.  The bulls
achieved another victory last week as the stock pushed through
the $18.50 resistance level, hitting a fresh 7-month high on
expanding volume.  Taking a quick look at the PnF chart shows the
stock on a strong Buy signal, with a bullish price target of
$28.50.  There is potential resistance at the $20-21 level, which
will be that much more significant with the PnF bearish
resistance line at $20.  But it looks like there's sufficient
room to play the stock up to that area from current levels.

A bit of natural profit taking got underway on Friday, dropping
the stock back to the $18.50 area and another down day or two
will set up an ideal entry on a rebound from what should be
strong support now in the $18 area.  In addition to the
historical support at that level, SGP will find support from the
20-dma ($17.99) and 30-dma ($17.83).  The strategy will be to
target entries on a dip back near this area, playing for a rally
up to the $20-21 resistance area.  Risk is fairly easy to control
here as well, with a stop at $17, which is below both the 50-dma
and 200-dma.  Once SGP closes back over $19, we can follow it up
with a stop trailed just behind the 50-dma until our upside
target is reached.

Annotated Chart of SGP:




Picked on February 8th at   $18.55
Change since picked          +0.00
Earnings Date              1/26/04 (confirmed)
Average Daily Volume =    6.13 mln




  --------------------
  Closed Bearish Plays
  --------------------

InterActiveCorp - IACI - close: 31.95 change: +0.51 stop: 34.30

We certainly gave IACI every opportunity to deliver with a
downside break and Tuesday's drop under $31 certainly looked
promising.  But by midweek, the dip buyers were back to their
usual tricks and the stock headed back up from there, without
even touching the 200-dma.  While it was encouraging to see the
stock lagging the rest of the market on Friday, IACI's remaining
below the $32.50 resistance level really doesn't do us any good.
The company is set to report earnings Monday morning, with the
conference call to follow at 11am ET.  It's time to move aside
and wait for the dust to settle after the announcement.

Picked on January 28th at   $31.29
Change since picked          +0.66
Earnings Date              2/09/04 (confirmed)
Average Daily Volume =    8.02 mln




---

LeapFrog Ent. - LF - cls: 29.74 chng: +1.02 stop: 30.90

It really looked like LF was going to head south in a big way
early last week, but the $27 level proved too much for the bears.
Buyers came back in on Thursday and continued charging forward
into the weekend, driving the stock through all of its shorter-
term moving averages, as well as near-term resistance at $29.50.
With earnings scheduled on Tuesday, there just isn't enough time
for the bears to pile on for another run at the lows as it looks
like a good old fashioned short-covering rally ahead of the news.
While our stop hasn't been hit yet, the logical choice is to drop
the play here and get out of the way.

Earnings too

Picked on January 28th at   $29.00
Change since picked          +0.74
Earnings Date              2/10/04 (confirmed)
Average Daily Volume =    1.48 mln




---

Visteon Corp - VC - close: 11.00 chg: +0.45 stop: 11.01

Curses!  We were not expecting VC to rally more than 4% on Friday
but shares surged to $11.09 intraday, above our recently lowered
stop loss at 11.01.  The disappointing jobs report was
interpreted positively as a catalyst to keep the Fed from raising
rates anytime soon.  That sent traders back into interest rate
sensitive cyclical stocks and VC powered higher, albeit on lower
volume.  The stock remains under its P&F resistance and we
suspect that this rally is going to fade.  More aggressive
traders may want to keep this play open or look for another entry

Picked on February 01 at $10.70
Gain since picked:       + 0.30
Earnings Date          01/23/04 (confirmed)
Average Daily Volume:       1.5 million




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

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

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

Golden Star Rsrcs. - GSS - close: 5.94 change: +0.55 stop: 5.19

Company Description:
Golden Star Resources Ltd. is an international gold mining and
exploration company producing gold in Ghana in West Africa.
Through its various subsidiaries and joint ventures the company
owns a controlling interest in four gold properties in Ghana: the
Bogoso property, the Prestea property, the Wassa property and the
Prestea underground property.  Bogoso and Prestea are adjoining
properties and both are owned by the company's 90%-owned
subsidiary, Bogoso Gold Ltd.  These two properties function as a
single operation referred to as Bogoso/Prestea.  GSS also holds
other active exploration properties in Suriname and Ghana through
its 73%-owned subsidiary, Guyanor Ressources S.A. In addition,
the Company has interests in several gold exploration properties
in French Guyana.

Why we like it:
After the powerful rally for most of 2003, gold and gold stocks
desperately needed to take a breather and pull back to
consolidate at support.  The past couple months have seen that
happening with an equal amount of volatility to that which
accompanied the rally.  The weakness in the dollar through most
of last year was a key to the rally in the gold sector and the
tepid rebound in the greenback lately has only served to
exacerbate the profit taking.  But with Friday's sharp dropoff in
the dollar again -- thanks to the disappointing Jobs report --
gold stocks are on the rise again.  GSS has pulled back nicely
over the past couple months and in the past few weeks has been
building a firm base just above the $5.00 level.  Friday's
rebound in the sector with the Gold and Silver index (XAU.X)
tacking on nearly 5% sent the stock sharply higher, to the tune
of more than 10%.  That's one of the things that we like about
GSS - it tends to over-react, both to the upside and to the
downside.  It carries greater risk, to be sure, but it also
provides the potential for greater returns.

Looking at the daily chart, we can see how the stock has been
basing just above $5.00 and it's hard not to like today's rally,
which pushed price through the 10-dma ($5.56), 20-dma ($5.67) and
100-dma ($5.75), wiping out the past 3 weeks of losses in one
day.  Daily oscillators are just starting to turn upwards in
bullish fashion and above $6.00, the next tangible level of
resistance is the 50-dma ($6.54).  Aggressive traders can
certainly enter the play on a breakout over $6.00, but our
preference is to wait for a bit of a pullback and target entries
in the $5.50-5.75 area, allowing for more upside before
encountering that resistance.  While the 50-dma is certainly an
obstacle, GSS looks like it could push its way all the way up to
$7.00 (and possibly $7.50) before running out of steam.  We're
setting an upside target of $7.00 for the play, and we'll use an
initial stop of $5.19, just under Thursday's intraday low.

Annotated Chart of GSS:



Picked on February 8th at    $5.94
Change since picked          +0.00
Earnings Date              2/02/04 (confirmed)
Average Daily Volume =    2.64 mln




  --------------------
  Bearish Play Updates
  --------------------

Netegrity, Inc. - NETE - close: 9.55 change: +0.36 stop: 10.50

Giving the necessary follow-through to the downside to activate
our entry trigger on Thursday, NETE dropped to $8.83 before the
bargain-hunters showed up.  The stock then rebounded back over
$9.00 and caught a serious wave of buying on Friday that took it
well above the 200-dma ($9.32) by the close.  Volume on Friday
was very strong as well and we're confronted with the possibility
that a near-term bottom is in place.  That said, NETE now has
strong resistance in place just over the $10 level and we'll be
watching how price responds near that level to see if it will set
up a new entry point.  A rollover below $10 looks good for new
entries, but only if the selling comes on solid volume as well.
Note that the 10-dma ($10.16) is rapidly approaching that $10
level and should reinforce that resistance when tested.  Maintain
stops at $10.50, just over Tuesday's intraday high.

Picked on February 4th at    $9.16
Change since picked          +0.39
Earnings Date              1/26/04 (confirmed)
Average Daily Volume =       681 K





==================================================================
Stock Splits
==================================================================

Announcements
-------------

None


=================================================================
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Copyright (c) 2001-2004  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter          Weekend Edition 02-08-2004
                                                    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 February  9, 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 February  9th
==========================================

Symbol  Co               Date           Comment      EPS Est

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

AL     Alcan Inc.            Mon, Feb 09  -----N/A-----       0.40
BOBE   Bob Evans Farms       Mon, Feb 09  After the Bell      0.45
CHD    Church & Dwight Co.   Mon, Feb 09  -----N/A-----       0.35
ESPD   eSpeed, Inc.          Mon, Feb 09  After the Bell      0.15
HAS    Hasbro, Inc.          Mon, Feb 09  Before the Bell     0.55
IACI   InterActiveCorp       Mon, Feb 09  Before the Bell     0.23
KB     Kookmin Bank          Mon, Feb 09  -----N/A-----        N/A
LRY    Liberty Prop Trust    Mon, Feb 09  After the Bell      0.78
LNCR   Lincare Hldgs         Mon, Feb 09  After the Bell      0.60
LNC    Lincoln National      Mon, Feb 09  After the Bell      0.91
MRD    MacDermid             Mon, Feb 09  After the Bell      0.41
MCY    Mercury General       Mon, Feb 09  -----N/A-----       0.60
GAS    Nicor Inc.            Mon, Feb 09  After the Bell      0.82
PRE    PartnerRe Ltd.        Mon, Feb 09  After the Bell      1.68
PPS    Post Props, Inc       Mon, Feb 09  After the Bell      0.48
TLTOB  Tele2 AB              Mon, Feb 09  -----N/A-----        N/A
PNX    The Phoenix Companies Mon, Feb 09  Before the Bell     0.14
TMK    Torchmark             Mon, Feb 09  After the Bell      0.99
UDR    Un Dom Rlty Trust, IncMon, Feb 09  After the Bell      0.37
UVV    Universal Corp        Mon, Feb 09  After the Bell       N/A
ZMH    Zimmer Inc.           Mon, Feb 09  After the Bell      0.47


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

TW     21st Century Ins      Tue, Feb 10  After the Bell      0.20
AGU    Agrium, Inc.          Tue, Feb 10  After the Bell      0.21
AW     Allied Waste Ind, Inc Tue, Feb 10  After the Bell      0.12
AEE    Ameren Corp           Tue, Feb 10  Before the Bell     0.27
ACAS   Am Capl Strategies    Tue, Feb 10  After the Bell      0.69
AMH    AmerUs Grp Co.        Tue, Feb 10  After the Bell      0.95
ATO    Atmos Energy Corp     Tue, Feb 10  -----N/A-----       0.54
BP     Bp PLC                Tue, Feb 10  Before the Bell     0.84
CRL    Charles River Labs    Tue, Feb 10  After the Bell      0.38
CLX    Clorox                Tue, Feb 10  -----N/A-----       0.49
CTSH   Cognizant Tech Solut  Tue, Feb 10  -----N/A-----       0.24
FDP    Fresh Del Monte Prd   Tue, Feb 10  Before the Bell     0.37
GALN   Galen Hldgs PLC       Tue, Feb 10  Before the Bell     0.53
GET    Gaylord Entertainment Tue, Feb 10  Before the Bell    -0.35
HTG    Hrtg Prp Invstmnt TrstTue, Feb 10  -----N/A-----       0.71
HNI    HON IND Inc.          Tue, Feb 10  Before the Bell     0.48
HS     Hughes Electronics    Tue, Feb 10  -----N/A-----      -0.04
RX     IMS Health            Tue, Feb 10  After the Bell      0.31
IPCR   IPC Hldgs             Tue, Feb 10  After the Bell      1.16
LZB    La-Z-Boy Inc.         Tue, Feb 10  After the Bell      0.29
LF     LeapFrog Enterprises  Tue, Feb 10  After the Bell      0.73
TVL    LIN TV Corp.          Tue, Feb 10  Before the Bell     0.21
MAC    Macerich Co           Tue, Feb 10  -----N/A-----       1.02
MPG    Maguire Props, Inc.   Tue, Feb 10  After the Bell      0.49
MAR    Marriott Intl         Tue, Feb 10  Before the Bell     0.61
MDCO   MEDICINES CO          Tue, Feb 10  After the Bell      0.03
MET    MetLife Inc.          Tue, Feb 10  After the Bell      0.74
MICC   Millicom Intl CellularTue, Feb 10  -----N/A-----       0.86
MNST   Monster Worldwide     Tue, Feb 10  After the Bell      0.10
NPSP   NPS Pharmaceuticals   Tue, Feb 10  After the Bell     -1.06
PER    Perot Systems         Tue, Feb 10  Before the Bell     0.14
PNM    PNM Resources         Tue, Feb 10  After the Bell      0.36
PRU    Prudential Financial  Tue, Feb 10  After the Bell      0.61
PSD    Puget Energy          Tue, Feb 10  After the Bell      0.57
STR    Questar.com           Tue, Feb 10  After the Bell      0.65
ROIAK  Radio One             Tue, Feb 10  Before the Bell     0.07
RGC    Regal Entertainment   Tue, Feb 10  Before the Bell     0.31
RCII   Rent-A-Center         Tue, Feb 10  Before the Bell     0.60
PHG    Royal Philips Elect   Tue, Feb 10  -----N/A-----       0.46
SIAL   Sigma-Aldrich Corp    Tue, Feb 10  After the Bell      0.66
SIR    SIRVA, Inc.           Tue, Feb 10  Before the Bell     0.18
SRCL   Stericycle            Tue, Feb 10  After the Bell      0.38
SCMR   Sycamore Networks     Tue, Feb 10  After the Bell     -0.04
XL     XL Capital Ltd        Tue, Feb 10  After the Bell     -2.51


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

ACL    Alcon Inc.            Wed, Feb 11  After the Bell      0.42
ALFA   Alfa Corp             Wed, Feb 11  Before the Bell     0.25
AIG    American Intl Grp     Wed, Feb 11  Before the Bell     1.04
APPB   Applebee's Intl       Wed, Feb 11  After the Bell      0.41
ATR    AptarGrp              Wed, Feb 11  After the Bell      0.48
RMK    Aramark Corp          Wed, Feb 11  Before the Bell     0.34
AXS    Axis Capital Hldgs LtdWed, Feb 11  After the Bell      0.70
BAB    British Airways       Wed, Feb 11  Before the Bell      N/A
BSY    British Sky Brdcstg   Wed, Feb 11  Before the Bell      N/A
BRCD   Brocade Cmmu Systems  Wed, Feb 11  After the Bell      0.02
CGT    CAE                   Wed, Feb 11  Before the Bell      N/A
CARS   Capital Automotive    Wed, Feb 11  Before the Bell     0.60
CHH    Choice Hotels Intl    Wed, Feb 11  After the Bell      0.45
XEC    Cimarex Energy Co.    Wed, Feb 11  Before the Bell     0.44
CMCSA  Comcast Corp          Wed, Feb 11  Before the Bell     0.02
CSC    Computer Sciences CorpWed, Feb 11  After the Bell      0.70
DCN    Dana                  Wed, Feb 11  Before the Bell     0.40
DVA    DaVita                Wed, Feb 11  -----N/A-----       0.69
DFG    Delphi Financial Grp  Wed, Feb 11  After the Bell      0.72
FR     First Indl Rlty Trust Wed, Feb 11  After the Bell      0.91
FLA    Florida East Coast    Wed, Feb 11  Before the Bell     0.14
FST    Forest Oil Corp       Wed, Feb 11  After the Bell      0.38
FOX    Fox Entertainment Grp Wed, Feb 11  Before the Bell     0.34
GRMN   Garmin Ltd.           Wed, Feb 11  Before the Bell     0.45
GEMP   Gemplus Intl S.A.     Wed, Feb 11  Before the Bell      N/A
GRP    Grant Prideco Inc     Wed, Feb 11  -----N/A-----       0.07
DA     Grpe Danone           Wed, Feb 11  -----N/A-----       0.85
HNT    Health Net, Inc.      Wed, Feb 11  Before the Bell     0.76
HPC    Hercules              Wed, Feb 11  Before the Bell     0.18
HRH    Hilb Rogal & Hobbs Co Wed, Feb 11  After the Bell      0.53
IPXL   Impax Labs            Wed, Feb 11  Before the Bell    -0.05
KIM    KIMCO RLTY CORP       Wed, Feb 11  After the Bell      0.84
LAMR   LAMAR ADVERTISING CO  Wed, Feb 11  Before the Bell    -0.05
MHS    Medco Health SolutionsWed, Feb 11  After the Bell      0.46
NRD    NORANDA INC           Wed, Feb 11  Before the Bell      N/A
OCAS   Ohio Casualty         Wed, Feb 11  After the Bell      0.30
OSI    Outback Steakhouse    Wed, Feb 11  After the Bell      0.58
PFCB   P.F. Chang's Chn Bstr Wed, Feb 11  Before the Bell     0.28
PTP    Platinum Underwriters Wed, Feb 11  After the Bell      0.66
PL     Protective Life Corp  Wed, Feb 11  Before the Bell     0.72
QLTI   QLT Inc.              Wed, Feb 11  Before the Bell     0.14
SKYW   SkyWest               Wed, Feb 11  -----N/A-----       0.27
STO    Statoil ASA           Wed, Feb 11  Before the Bell      N/A
SWMAY  Swedish Match         Wed, Feb 11  -----N/A-----        N/A
SYT    Syngenta              Wed, Feb 11  -----N/A-----        N/A
SYNT   Syntel, Inc.          Wed, Feb 11  Before the Bell     0.21
TFX    Teleflex, IncorporatedWed, Feb 11  After the Bell      0.67
TLSN   TeliaSonera AB        Wed, Feb 11  -----N/A-----        N/A
TPP    Teppco                Wed, Feb 11  After the Bell      0.43
KO     The Coca-Cola Co      Wed, Feb 11  Before the Bell     0.45
FAF    The First American    Wed, Feb 11  Before the Bell     1.11
NWS    The News Corp Limited Wed, Feb 11  Before the Bell     0.28
TNB    Thomas & Betts        Wed, Feb 11  After the Bell      0.23
TRH    Transatlantic Hldgs   Wed, Feb 11  -----N/A-----       1.44
VFC    VF                    Wed, Feb 11  -----N/A-----       0.89
BER    W.R. Berkley          Wed, Feb 11  After the Bell      0.87
WC     WellChoice, Inc.      Wed, Feb 11  After the Bell      0.62
WFMI   Whole Foods Market    Wed, Feb 11  After the Bell      0.57
WEC    Wisconsin Energy Corp Wed, Feb 11  Before the Bell     0.62
XTO    XTO Energy Inc.       Wed, Feb 11  Before the Bell     0.45
YUM    Yum! Brands, Inc.     Wed, Feb 11  After the Bell      0.62
ZBRA   Zebra Technologies    Wed, Feb 11  Before the Bell     0.49


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

ADIC   Adv Digital Info Corp Thu, Feb 12  -----N/A-----       0.08
AET    Aetna Inc.            Thu, Feb 12  Before the Bell     1.18
AMIS   AMIS HLDGS INC        Thu, Feb 12  After the Bell      0.11
ADI    Analog Devices Inc.   Thu, Feb 12  After the Bell      0.28
AIV    Apart Invstmnt & Mgmt Thu, Feb 12  -----N/A-----       0.76
BHI    Baker Hughes Incorp   Thu, Feb 12  Before the Bell     0.28
BCS    Barclays Bank PLC     Thu, Feb 12  Before the Bell      N/A
BIO    Bio-Rad Labs, Inc.    Thu, Feb 12  After the Bell      0.74
BDN    Brandywine Rlty Trust Thu, Feb 12  After the Bell      0.66
BNN    BRASCAN CORP          Thu, Feb 12  -----N/A-----       0.47
BTY    BT Grp PLC            Thu, Feb 12  Before the Bell      N/A
BUH    Buhrmann NV           Thu, Feb 12  Before the Bell      N/A
CNP    CenterPoint Energy    Thu, Feb 12  Before the Bell     0.19
CEPH   Cephalon, Inc.        Thu, Feb 12  After the Bell      0.52
CBI    Chicago Bridge & Iron Thu, Feb 12  Before the Bell     0.39
CNA    CNA Financial Corp    Thu, Feb 12  Before the Bell     0.59
CORV   Corvis Corp           Thu, Feb 12  After the Bell     -0.09
COX    Cox Cmmu Inc.         Thu, Feb 12  Before the Bell     0.07
CSR    Credit Suisse Grp     Thu, Feb 12  Before the Bell      N/A
CVS    CVS Corp              Thu, Feb 12  Before the Bell     0.58
DF     Dean Foods            Thu, Feb 12  -----N/A-----       0.54
DELL   Dell, Inc.            Thu, Feb 12  -----N/A-----       0.28
ELUX   Electrolux AB         Thu, Feb 12  Before the Bell     0.92
GPRO   Gen-Probe             Thu, Feb 12  After the Bell      0.16
GNTA   Genta                 Thu, Feb 12  -----N/A-----      -0.21
GSK    GlaxoSmithKline       Thu, Feb 12  Before the Bell     0.65
GTI    GrafTech Intl Ltd     Thu, Feb 12  Before the Bell     0.07
HB     Hillenbrand Ind       Thu, Feb 12  -----N/A-----       0.82
IDC    Interactive Data Corp Thu, Feb 12  Before the Bell     0.19
IVGN   Invitrogen Corp       Thu, Feb 12  Before the Bell     0.56
SFI    iStar Financial       Thu, Feb 12  Before the Bell      N/A
JHX    James Hardie Ind N.V. Thu, Feb 12  -----N/A-----        N/A
KROL   Kroll Inc.            Thu, Feb 12  Before the Bell     0.28
LTR    Loews Corp.           Thu, Feb 12  Before the Bell     1.16
MRH    Montpelier Re Hldgs   Thu, Feb 12  After the Bell      1.18
NOI    National Oilwell      Thu, Feb 12  Before the Bell     0.28
NFX    Newfield Exploration  Thu, Feb 12  Before the Bell     0.98
NXY    Nexen                 Thu, Feb 12  Before the Bell     0.68
NVDA   NVIDIA Corp           Thu, Feb 12  After the Bell      0.11
OCR    Omnicare              Thu, Feb 12  Before the Bell     0.59
OSG    Overseas ShipHldg     Thu, Feb 12  Before the Bell     0.60
PHS    PacifiCare Health Sys Thu, Feb 12  After the Bell      0.52
PHLY   Phil Consolidated HldgThu, Feb 12  -----N/A-----       0.77
PDS    Precision Drilling    Thu, Feb 12  Before the Bell     0.76
SWY    Safeway, Inc.         Thu, Feb 12  Before the Bell     0.58
SPIL   SILICONWARE PRECISION Thu, Feb 12  -----N/A-----       0.09
STRA   Strayer Education     Thu, Feb 12  Before the Bell     0.70
SDS    SunGard Data Systems  Thu, Feb 12  After the Bell      0.36
TLS    Telstra Corp Limited  Thu, Feb 12  -----N/A-----        N/A
TGN    Texas Genco Hldgs, IncThu, Feb 12  Before the Bell     0.29
MAY    May Department Stores Thu, Feb 12  -----N/A-----       1.32
SVM    The ServiceMaster Co  Thu, Feb 12  Before the Bell     0.08
TOC    The Thomson Corp      Thu, Feb 12  -----N/A-----       0.54
TMS    Thomson               Thu, Feb 12  -----N/A-----        N/A
TRZ    Trizec Props, Inc.    Thu, Feb 12  Before the Bell     0.39
TXU    TXU Corp.             Thu, Feb 12  Before the Bell     0.20
UL     Unilever PLC          Thu, Feb 12  Before the Bell      N/A
UNA    UNOVA Inc.            Thu, Feb 12  After the Bell      0.01
WMI    Waste Management      Thu, Feb 12  Before the Bell     0.33
WWCA   Western Wireless      Thu, Feb 12  After the Bell     -0.02
WMGI   Wright Medical Grp,   Thu, Feb 12  After the Bell      0.17
XMSR   XM Satellite Radio    Thu, Feb 12  Before the Bell    -1.16


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

ABX    Barrick Gold          Fri, Feb 13  -----N/A-----       0.08
DP     Diagnostic Products   Fri, Feb 13  Before the Bell     0.51
FRT    Fed Rlty Invstmnt TrstFri, Feb 13  -----N/A-----       0.67
SJM    J. M. Smucker Co      Fri, Feb 13  Before the Bell     0.63
IMI    SanPaolo IMI SpA      Fri, Feb 13  -----N/A-----        N/A
SCG    SCANA                 Fri, Feb 13  Before the Bell     0.61
TELN   Telenor ASA           Fri, Feb 13  -----N/A-----        N/A
TU     TELUS                 Fri, Feb 13  During the Market    N/A


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

Symbol  Co Name              Ratio    Payable     Executable

JST     Jinpan Intl Limited       2:1      Feb   6th   Feb   9th
MSCC    Commercial Capital Bancorp2:1      Feb   6th   Feb   9th
DCAI    Dialysis Corp             3:2      Feb   9th   Feb  10th
TASR    TASER Intl, Inc.          2:1      Feb  10th   Feb  11th
ONFC    Onedia Financial Corp     3:1      Feb  10th   Feb  11th
NFLX    Netflix Inc.              2:1      Feb  11th   Feb  12th
NYB     New York Community Bancorp2:1      Feb  17th   Feb  18th
SBGA    Summit Bank Corp          N/A      Feb  17th   Feb  18th
BMS     Bemis Company             3:2      Feb  17th   Feb  18th
MOG.A   N/A                       3:2      Feb  17th   Feb  18th
OVTI    OmniVision Technologies   2:1      Feb  17th   Feb  18th
SNDK    SanDisk Corp              N/A      Feb  18th   Feb  19th
CCBI    Commercial Capital Bancorp3:2      Feb  20th   Feb  23rd
SLFI    Sterling Financial Corp   3:2      Feb  20th   Feb  23rd
NATI    National Instruments      2:1      Feb  20th   Feb  23rd
ACV     Alberto-Culver Company    N/A      Feb  20th   Feb  23rd


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

Wall Street will once again be focusing on Greenspan this week
with his two appearances before the House and Senate.  Look for
the balance of this week's economic reports to announce late
in the week.


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

----------------
Monday, 02/09/04
----------------
Wholesale Inventories (DM) Dec  Forecast:    0.3%  Previous:     0.5%



-----------------
Tuesday, 02/10/04
-----------------
OPEC meeting

-------------------
Wednesday, 02/11/04
-------------------
Greenspan reports on Monetary Policy to Congress


------------------
Thursday, 02/12/04
------------------
Initial Claims (BB)      02/06  Forecast:     N/A  Previous:     356K
Business Inventories (BB)  Dec  Forecast:    0.2%  Previous:     0.3%
Retail Sales (BB)          Jan  Forecast:    0.2%  Previous:     0.5%
Retail Sales ex-auto (BB)  Jan  Forecast:    0.4%  Previous:     0.1%
Treasury Budget (DM)       Jan  Forecast:   $3.0B  Previous:   $10.6B
Greenspan reports on Monetary Policy to the Senate


----------------
Friday, 02/13/04
----------------
Trade Balance (BB)         Dec  Forecast: -$39.7B  Previous:  -$38.0B
Export Prices es-ag. (BB)  Jan  Forecast:     N/A  Previous:     0.2%
Import Prices es-oil (BB)  Jan  Forecast:     N/A  Previous:     0.1%
Mich Sentiment-Prel. (DM)  Feb  Forecast:   103.6  Previous:    103.8


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

C       Citigroup                  49.31    +1.20
TOT     Total Sa (ADS)             89.73    +1.16
CHL     China Mobile Ltd           16.69    +0.90
ONE     Bank One Corp              51.82    +0.92
WFC     Wells Fargo & Co New       57.96    +0.90
BAC     Bank of America Corp       82.76    +0.76


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

TSP     Telecom De Sao Paulo Sa    17.80    +1.75
CIG     Companhia Energetica Mines 17.19    +1.07
CAO     CSK Auto Corp              19.57    +1.32


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

TM      Toyota Motor Corp (ADS)    68.70    +1.17
PEP     Pepsico Inc                50.21    +1.66
UBS     UBS Ag Ord. Shares         73.63    +1.95
PHG     Koninklijke Philips Elec   31.56    +1.32
SNP     China Petro & Chem (ADS)   41.94    +2.94


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

GDT     Guidant Corp               61.00    -1.35
EDS     Electronic Data Systems    21.90    -1.39
CI      Cigna Corp                 56.55    -5.55
APCC    American Power Convrsn     23.30    -3.08
ADS     Alliance Data              30.17    -1.02


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

NONE


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