PremierInvestor.net Newsletter Thursday 02-12-2004 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: Thank You Mr. Greenspan Market Sentiment: Investors Take A Breath Watch List: UST, PDII, AFFX, PPDI ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 02-12-2004 High Low Volume Advance/Decline DJIA 10694.07 - 43.60 10735.29 10688.36 1.86 bln 1357/1848 NASDAQ 2073.61 - 16.10 2091.22 2072.06 1.94 bln 1291/1872 S&P 100 569.43 - 2.96 572.39 568.97 Totals 2648/3720 S&P 500 1152.11 - 5.65 1157.76 1151.44 W5000 11239.00 - 54.40 11293.42 11234.38 RUS 2000 592.75 - 4.32 597.07 592.13 DJ TRANS 2950.33 - 1.60 2960.52 2936.59 VIX 15.31 - 0.08 15.72 15.23 VXO (VIX-O)14.90 + 0.02 15.46 14.73 VXN 23.53 + 0.00 23.88 23.00 Total Volume 4,074M Total UpVol 1,517M Total DnVol 2,386M Total Adv 3041 Total Dcl 4195 52wk Highs 708 52wk Lows 5 TRIN 0.93 NAZTRIN 1.08 PUT/CALL 0.55 ================================================================= =========== Market Wrap =========== Thank You Mr. Greenspan After sending the Dow to a new two year high on Wednesday the master of disaster carefully avoided any comments today that would have reversed that gain. The positive comments about GDP growth, job growth and the Fed's patience comforted bulls and despite some minor profit taking today the markets held those gains. Dow Chart - Daily Nasdaq Chart - Daily Even negative Jobless Claims failed to put the skids on the gains from Wednesday. Claims rose to 363,000 for this week and the prior week was revised up to 357,000. Even a two-week rebound over 350K failed to spoil the party. Continuing claims fell another 23,000 to 3.083 million. Blame it on the weather was the general analyst assumption as the four-week average rose back to the 350,000 level. I am surprised there was not a bigger reaction to the two week jump especially when Greenspan himself said there was little evidence of hiring. 350K is the line in the sand below which job growth appears and above that level we historically tend to see job growth decrease. Retail Sales fell -0.3% in January and far below expectations for growth of +0.2%. A larger than expected decline in auto sales was targeted as the culprit. I assume you could blame that on the weather as well since car buyers seldom brave blizzards to test drive new cars. The number ex-autos soared to +0.9% with apparel, grocery and sporting goods stores leading the gains. Building materials dropped -0.9%, again probably due to the weather. Electronics only rose +0.1% and furniture fell -0.9%. Business Inventories rose +0.3% in December and inline with estimates but an increase in sales pushed the inventory to sales ratio to another record low of 1.34. Retailers showed a modest increase in inventory but manufacturers remained flat. In fact manufacturing inventories have declined for three consecutive quarters. Everyone keeps pointing out the record low levels as a sign there is a massive rebuild cycle in our future but it continually fails to appear. This rebuild cycle should add significantly to the GDP for Q1 as retailers restock from the holiday sales. The Greenspan relief rally on Wednesday shook off the minor economic glitches above and the Dow clung to the 10700 level with a grip of steel. The Nasdaq did not participate in the Wednesday gains to the same extent as the Dow. The Nasdaq gave back those meager gains today but held above 2075 support until earnings fears prompted a late day down tick. Those earnings fears did not come to pass with Dell beating estimates by a penny, ADI beat by two cents and NVDA beat by three. Dell traded up in after hours and NVDA got killed. Dell was the real threat. There was a concern that Dell had felt the HPQ heat in the 4Q and had to cut margins to the bone to sell computers. They were afraid that Dell could report inline, show margin shrinkage or even guide lower going forward. None of that came to pass. Dell was pleased with their results, but then they normally are. Dell said IT spending was increasing although at a slow and steady pace. Ironically Dell traded up in after hours despite a relatively subdued conference call. Dell said that despite the steady rise in IT spending they were not seeing any growth from the large companies. The spending was coming from small to medium size businesses with growth slowing as the size of the companies grew larger. Revenue was inline with guidance and shipments rose +25%. Dell also said January was strong and they were refusing to discount prices further in their battle with HPQ. Notebook sales which had been fueling profits over the last two quarters were slowing and lower priced computers were seeing stronger sales in 2004. Dell said sales would decline -3% for Q1 due to seasonal patterns. HPQ is hurting Dell and sometimes selling at a loss to get the business. The battle for bragging rights for first place has been tough and the lead tends to shift quarter by quarter. Dell was quick to point out that its printer business grew by +100% and they were continuing to offer new models to compete with HPQ. Based on the flat tone of the call and the flat guidance I am surprised that they traded higher after hours. I suspect it was a relief rally that they did not do worse as the whisper numbers had suggested. Dell had traded at a six month low of $31.75 just last week. Nvidia on the other hand felt the wrath of traders despite beating estimates by +3 cents. The win was helped by a low tax rate and a reduction in liabilities for tax contingencies. Earnings were less than half of the prior 4Q on basically the same revenue. NVDA also said sales of X-Box chips to Microsoft had declined -$90 million and current sales would be flat to down -5%. This was not really a surprise as most sales come in the 3Q for units sold over the holidays. The drop was slightly more than had been forecast. NVDA was down to $21.90 in late trading. On the flip side of the earnings coin was ADI, which posted earnings that were nearly twice the same period a year ago. ADI posted 30 cents for the 4Q compared to only 16 cents from the prior year. Revenues were up and gross margins rose to a whopping 57.1%. They also declared a dividend of four cents. They guided analysts to 34-35 cents for Q1 and well over the prior estimates of 32 cents. ADI shares jumped over $2 in after hours trading. In related news INTC actually dropped -25 cents despite announcing a discovery that could accelerate data transfer inside a PC by as much as 50 times the present rate. The discovery is a way to pulse light beams through silicon to represent the on/off state of a common bit of information. By using different colors of light in the same beam they anticipate being able to increase the transfer rate even more. It will be sometime before this discovery makes its way into real production but the path is clear. During Dell's earnings they also alluded to the 64bit AMD chip but suggested they would wait for the Intel offering that is expected shortly. The problem is not the chip but the software that runs on it. Until the software catches up there is no rush for anyone to jump ship to the AMD chip. Intel obviously knows this and are taking their time. The biggest news of the afternoon was a sudden drop in Imclone stock just before the stock was halted for news pending. IMCL was trading just over $42 at 1:25 when the stock suddenly dropped to $33.50 in a single tick with volume indicated at over 600,000 shares. Several seconds later the stock was halted news pending. The news was a successful approval by the FDA of Erbitux. The IMCL drop was explored by Nasdaq and the stock did not open again for trading until 4:20. It closed the after hours session back over $44.00. No answer for the drop was ever given and whoever took the other side of that 600,000 share sale should be a happy camper tonight. The FDA originally declined to approve Erbitux and that led to the current Martha Stewart trial and prison for Sam Waksal. IMCL was trading just over $60 when that first denial was made. The second day of testimony by Greenspan concluded without any problems and traders breathed a sigh of relief. The market fell slightly on the conclusion suggesting there was a "sell the lack of news" event. The trading day was actually very boring. We opened down on profit taking on the weak economic news but the Dow then traded in a very narrow 35 point range the rest of the day. 10700 became the battle ground and traders appeared content to let time expire on the clock rather than press the battle. The Nasdaq held 2075 until a minor sell program in the last ten minutes pushed the index to close at 2073. The techs have not been as strong as the Dow but are holding their own. The close at 2075 resistance, now support, and the bump in the futures after the close could suggest there are further gains ahead but it is very tough to draw any kind of conclusions at these levels. Bullish sentiment is still very strong but we are in the period where historical consolidation occurs. We need to hold these levels for at least another week until the April earnings cycle begins with mid quarter updates. Fueling this earnings cycle will be a very strong surge in tax refunds and the beginning of the spring home buying cycle. Greenspan clearly indicated that the Fed was planning on being patient about raising rates. He also suggested the recovery was still on track despite the lack of jobs. This is the green light for equities and he removed any suggestion of a change in conditions for at least the next 90 days. The lack of any material sell off after the Wednesday gains shows that the bullish sentiment is alive and well despite the two year highs. The key for Friday will be the Nasdaq. If the Dell and ADI earnings based on a broad customer base can overpower the disappointment from NVDA which caters to a niche market then we should be in good shape. The Nasdaq pulled back to its 50 dma last week and the rebound from that level has yet to catch fire. After four days we are still trading at the level reached on that initial rebound. The Nasdaq needs to at least hold its ground on Friday. We need to get above the 2080 level and notch another higher high to give traders confidence the rebound is going to stick. We may need a catalyst to push us higher but we are still in dip buying mode until something changes. Tomorrow is Friday the 13th and Monday is a holiday. The only economic report tomorrow that could move the market is the Consumer Sentiment. The consensus is 104.9, up from 103.8 in the last reading. As I reported last week there was an AP sentiment survey for late January that dropped substantially to 91.7 from 106.3. Should the Michigan Survey tomorrow show any significant drop traders might think twice before making big bets before the long weekend. Flights were cancelled again today for terrorist reasons so there is event risk to consider. Lest you think market historians have nothing left to compute you might be interested to know that on this Friday in 2003 the Dow showed the first gain in twelve years. Yes, after eleven straight years of declines the string was broken. Wonder what it is about President's Day that prompted the selling? Could it be they needed money for Valentines presents? Yes, guys, there is only one shopping day left until Valentines. Get off the couch and head for the mall. Enter Passively, Exit Aggressively. Jim Brown Editor =============================== Market Sentiment =============================== Investors Take A Breath - J. Brown After holding their breath Monday and Tuesday in anticipation of Alan's appearance before congress investors may have let it all out at once during Wednesday's big rally. Today's action looks like everyone just took a moment to catch their breath while listening to Greenspan's second Q&A session with the senate. The economic data today was not inspiring but we'll get to hear more tomorrow. Before the open will be the import/export prices report and the trade balance numbers. After the bell the markets will hear from the Michigan consumer sentiment report. Currently economists are estimating a small drop from 103.8 last month to 103.3. Yet the real catalyst may be Dell's earnings that came out tonight. The EPS number beat by a penny while revenues matched the estimates at $11.51 billion for the quarter. That alone is not impressive and one would normally expect profit taking on this news. However, we all know that investors have selective hearing and they might key in on Dell's comments about corporate demand picking up and their expectation for steady growth in tech spending this year. Unfortunately, they countered this positive outlook by only guiding in-line with current estimates. Maybe they anticipated a negative reaction and in an attempt to keep their stock price up Dell announced a $100 million stock buy back program for the first quarter and another $100 million for each quarter in FY05 for a total of $600 million. Maybe it will work but I think investors may have been happier if DELL had just instituted a dividend instead. How investors interpret this report will influence direction for tech stocks tomorrow. Market internals turned negative by the closing bell on Thursday as declining stocks outpaced advancers 16 to 12 on the NYSE and 18 to 12 on the NASDAQ. Down volume also outnumbered up volume with the selling much heavier on the NASDAQ. Keep an eye on the Dow Transports (TRAN). This sector has rallied strongly from its early February low but has stalled right at resistance in the form of its 50-dma. Bulls were able to drive the biotech index to another high today but gains faded by the close. Its cousin the DRG drug index started the day in the red and remained there but still managed to close above its simple 10-dma. Energy stocks are still showing strength with the OSX oil services index and the XNG natural gas index stretching their winning streak to five days in a row. The OIX has also been strong but is currently under six-week resistance at the 330 level. Right now the market leaders are the DFI defense index and the IUX insurance index, both hitting new highs with a strong trend behind them. The RLX retail index isn't far behind after its recent bullish breakout. Garnering an honorable mention are the airlines and homebuilders. The XAL has rebounded from its February low and closed above its 50-dma today. A number of airlines are starting to slash prices to drive up spring traffic. Meanwhile the homebuilders have been making headway now that Wall Street believes the fed will be patient before raising rates again. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10746 52-week Low : 7416 Current : 10694 Moving Averages: (Simple) 10-dma: 10567 50-dma: 10376 200-dma: 9566 S&P 500 ($SPX) 52-week High: 1158 52-week Low : 788 Current : 1152 Moving Averages: (Simple) 10-dma: 1139 50-dma: 1112 200-dma: 1029 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 795 Current : 1501 Moving Averages: (Simple) 10-dma: 1490 50-dma: 1475 200-dma: 1339 ----------------------------------------------------------------- The volatility indices are little help today. The VIX and VXO closed almost unchanged despite their earlier highs this morning and the VXN did close unchanged. CBOE Market Volatility Index (VIX) = 15.31 -0.08 CBOE Mkt Volatility old VIX (VXO) = 14.90 +0.02 Nasdaq Volatility Index (VXN) = 26.53 +0.00 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.56 916,360 508,743 Equity Only 0.43 820,594 354,644 OEX 1.83 18,758 34,382 QQQ 1.35 40,042 53,905 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 77.0 + 1 Bull Confirmed NASDAQ-100 69.0 - 1 Bear Alert Dow Indust. 86.7 + 0 Bull Confirmed S&P 500 88.0 + 1 Bull Confirmed S&P 100 89.0 + 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: 0.92 10-dma: 0.96 21-dma: 0.97 55-dma: 0.98 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 1192 1175 Decliners 1643 1864 New Highs 347 226 New Lows 10 3 Up Volume 830M 691M Down Vol. 983M 1068M Total Vol. 1833M 1848M 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 --------------------------------- UST Inc. - UST - close: 36.83 change: +0.40 WHAT TO WATCH: We looked at shares of UST recently in expectation of a breakout over near resistance at $36.50 and that breakout occurred today on strong volume. A pullback to confirm support above $36 would make for a great entry point, although a break above $37 should work as well. Watch for potential resistance near $38 and then target the 2002 highs in the $40-41 area. --- PDI Inc. - PDII - close: 31.77 change: +1.80 WHAT TO WATCH: After trolling along just below the $30 resistance level for more than 2 months, PDII is starting to break out as it pushed above $31 both of the past two days and held those gains today. Use a trigger over $32 and play for a move first to $34.50 and then a fill of the gap at $38. --- Affymetrix, Inc. - AFFX - close: 32.92 change: +1.58 WHAT TO WATCH: After being stuck below strong resistance at $30 for the past 2 years, shares of AFFX are finally joining the bullish party. The first step was a breakout over $30 in late January, which the stock followed up with another breakout today. A pullback to confirm support above $30 would make for an attractive entry, but at this point it might make sense to chase the stock higher. Look for a rally up towards next firm resistance at $40. --- Pharm. Product Development - PPDI - close: 31.03 change: +0.41 WHAT TO WATCH: Ever since breaking down in early 2002, PPDI has been turned back each time it tests the $32 resistance level. This time things look different though and the stock almost managed a breakout today with its push close to that level. Use a trigger of $32.25 and then target next resistance at $35, with potential to keep on running to the $37 area. --- =================== On the RADAR Screen =================== HON $36.95 - HON has been looking much better lately, especially after last month's breakout over the 200-week moving average, which it subsequently used as support in preparation for the next bullish move. That move appears to be underway and the way to play it is to use a trigger over $37.75 and target next resistance in the $40-41 area. XRX $15.26 - Clawing its way out of single-digit status, XRX is starting to act like a real stock again, having more than tripled from its 2002 low. It looks like another breakout is forming here, with the logical entry trigger being a breakout over $15.40 (just above today's high). Target a rally to next resistance at $18, or even a push up towards very strong resistance at $20. SEBL $14.32 - After being under pressure since early January, SEBL seems to have found its footing again. Today's rally over the 50-dma looked quite strong and we're expecting a run back to test the January highs near $16. Use a trigger over today's high. ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright ) 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Thursday 02-12-2004 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: ATVI, HCSG 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 ------------- ATVI scores with a 3-for-2 stock split After the bell this evening Activision, Inc. (NASDAQ:ATVI) announced that its Board of Directors had approved a 3-for-2 stock split of its common shares. The split, to take form as a 50% stock dividend, will be payable on March 15th, 2004 to shareholders on record as of February 23rd. Fractional shares will be paid in cash. About the company: Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted net revenues of $864 million for the fiscal year ended March 31, 2003. (Source: Company Press Release) --- HCSG cleans up with a 3-for-2 stock split Less than two hours before the closing bell Healthcare Services Group, Inc. (NASDAQ:HCSG) announced earnings for its December quarter and a 3-for-2 stock split. Revenues were up 20% to $101.5 million. HCSG's Board of Directors declared a 3-for-2 stock split in the form of a 50% stock dividend. The payable date for the split is March 1st, 2004 to shareholders on record as of February 23rd. Post-split HCSG will have 16.8 million shares outstanding. About the company: Healthcare Services Group, Inc. is the largest national provider of professional housekeeping, laundry and food services to long- term care and related facilities. (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 GCI Gannett Co Inc 88.18 +0.63 CVS CVS Corp 38.23 +2.10 AMX America Movil 35.00 +1.39 ATH Anthem Inc 84.53 +1.68 MHK Mohawk Industries 82.91 +1.01 VFC VF Corp 45.05 +0.53 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- AKAM Akamai Technologies 16.20 +1.03 RYG Royal Group Tech Ltd 11.36 +1.64 AAI Airtran Holdings 12.87 +1.13 WITS Witness Systems 12.23 +1.09 MLT Metals Usa Inc 12.05 +1.42 ALDN Aladdin Knowledge Sys 17.00 +1.29 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- UL Unilever Plc 41.75 +1.20 AET Aetna Inc 74.80 +3.20 LTR Loews Corp 59.21 +1.96 CMX Caremark Rx 30.35 +1.13 NWL Newell Rubbermaid 25.40 +1.00 FDO Family Dollar Stores 39.39 +1.73 ADVP AdvancePCS 64.90 +2.76 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- TOC The Thomson Corp 32.45 -1.75 COX Cox Communications 33.00 -1.03 CSC Computer Sciences Corp 42.87 -3.75 LH Laboratory Corp 39.85 -4.35 IMCL Imclone Systems 34.00 -9.10 RMBS Rambus Inc 24.35 -5.26 CBI Chicago Bridge & Iron 28.24 -3.82 DY Dycom Industries 23.20 -1.84 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- MHP McGraw Hill Companies 76.63 -3.49 DGX Quest Diagnostics 83.12 -2.11 IVGN Invitrogen Corp 77.00 -3.50 STRA Strayer Education 114.85 -1.96 ARE Alexandria Real Estate 61.95 -3.20 PKY Parkway Properties 46.00 -1.41 ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.
Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.
To ensure you continue to receive email from Option Investor please add "firstname.lastname@example.org"
Option Investor Inc