PremierInvestor.net Newsletter Tuesday 02-24-2004 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: January 2003 Watch List: SLAB, TDW, PDI, ICOS Market Sentiment: How many makes a trend? ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 02-24-2004 High Low Volume Advance/Decline DJIA 10566.37 - 43.30 10637.11 10521.70 1.92 bln 1631/1615 NASDAQ 2005.44 - 2.10 2018.07 1991.05 2.06 bln 1398/1786 S&P 100 563.69 - 0.89 566.19 561.29 Totals 3029/3401 S&P 500 1139.09 - 1.90 1144.54 1134.43 W5000 11075.48 - 14.60 11126.20 11034.24 RUS 2000 571.87 + 1.67 575.91 566.21 DJ TRANS 2859.31 + 4.50 2869.94 2836.48 VIX 15.90 - 0.39 16.76 15.77 VXO (VIX-O)15.82 - 0.11 16.72 15.47 VXN 24.68 + 0.30 25.27 24.36 Total Volume 4,330M Total UpVol 1,658M Total DnVol 2,568M Total Adv 3413 Total Dcl 3902 52wk Highs 253 52wk Lows 34 TRIN 1.34 NAZTRIN 1.10 PUT/CALL 0.76 ================================================================= =========== Market Wrap =========== January 2003 That is how long it has been since the Dow and S&P have been down five days in a row and that is what happened today. The technical support levels are being hit left and right but in reality nothing has changed. Dow Chart - Daily Nasdaq Chart - Daily The two economic reports this morning did not help traders confidence levels with Chain Store Sales down along with Consumer Confidence. Chain Store Sales fell -0.2% for the last week but that was only a very slight drop from the strong gains for the prior two weeks. We averaged +1.6% gains for each of the prior two weeks so the minor drop today was a non-event. Year over year growth rose to +8.1% and the best since May-1999. The majority of the gains came from easy comparisons from severe weather last year. Considering the slow employment and dropping sentiment just holding the gains from the last three weeks is very bullish. The biggest problem for the morning was a drop in the Consumer Confidence to 87.3 from 96.4 in January. This nearly -10 point drop was very significant and followed drops in all the confidence/sentiment reports for the last couple of weeks. The present conditions component fell to 73.1 and the lowest level since October. The expectations component fell to 96.8 from 107.80 but the jobs component dropped to only 11.8. Those expecting to buy a home rose slightly but consumers expecting to buy a car or major appliance fell. More consumers found that jobs were hard to get and fewer found then plentiful. Sounds like the same things but they are separate components. The decline was stronger in the various expectation components and that suggests the election mud slinging is having a negative impact on consumer viewpoints. The magnitude of the deficits and the constant harping on the lack of jobs is producing consumer worry. Also impacting the market weakness was the continuing currency crisis with the dollar losing ground again. John Snow went on record again as supporting a strong dollar. Snow is rapidly losing credibility every time he repeats that statement. We all know the administration is happy with the dollar drop as a way to increase demand for our exports and pressure imports. The firing of the Russian Prime Minister and his cabinet today by President Putin failed to rock the U.S. markets as it was seen as an attempt to bolster his support. The Russian Prime Minister is primarily responsible for the economic policy. Putin said he wanted to avoid uncertainty in the executive structure and was reshuffling the positions to push stronger reforms. The PM was the last holdover from the Boris Yeltsin era. Greenspan took aim at FRE and FNM in front of the Senate Banking Committee and pressed the need for increased regulation. He said that the risk was great for companies that big which needed to grow profits continually to justify their stock price. While they are both GSE firms their debt is not really guaranteed by the government. Greenspan suggested a failure at either company could send shock waves through the banking system and the economy. Greenspan wants their subsidy removed so that normal capital requirements would apply. He suggested the size of their portfolios be limited to reduce risk and unfair competition. Between them they control over 75% of all single-family mortgages worth more than $4 trillion. Because of their size they are able to control market rates. The SEC filed charges against divisions of Fleet Boston for mutual fund trading practices. The SEC alleged the companies allowed market timing in their trades. The EU imposed a minimum one month ban on poultry and poultry products from the U.S. after a much stronger strain of bird flu turned up at a Texas farm. This was the first highly pathogenic strain of avian flue found in the U.S. in over 20 years. The fear from the rapidly spreading strains of bird flu is that a new pandemic could appear. The bird flu is a rapidly mutating type of flu that can move to other animals and even humans. Once the flu mutates in humans it can produce an flu epidemic from which humans have no defense. The last pandemic in 1918 killed more than 40 million people and was started by an outbreak of bird flu like we are seeing now. According to various reports over 100 million chickens have now been killed worldwide in an effort to eradicate this current threat. Unfortunately this threat has been recurring more frequently in recent years and many health researchers suggest the next pandemic event is not a question of "if" but "when" it will occur. The impact is hotly debated with estimates of human deaths from 10 million to 100 million. With health controls and response times much better now than in 1918 those in power suggest the massive deaths are not probable. They are racing to produce a vaccine for the current strain but it will not be available in even limited doses for at least six months. Mad cow? Bird flu? Soy burgers are looking better every day. Major poultry suppliers are PPC, SFD, TSN and SAFM. This was the first time in a year that the Dow and S&P were down for five consecutive days. Sellers are still taking profits but the volume was only moderate. The Nasdaq fought to close over 2000 and managed to regain 2005 after trading down to 1991 intraday. The last time the Nasdaq closed under 2000 was Dec-26th. The Nasdaq has been in a downtrend for the last five weeks but it is still trading in the range we have been discussing between 2000-2100. The drop is only now beginning to appear risky for techs as the Nasdaq nears its 100dma at 1986. Currently the Nasdaq has broken the uptrend support and the support at the 50dma at 2044. The Dow broke with its recent support at 10575 late today and we saw a dip to 10521 before a late day rally brought it back to close at 10566. The 50dma, which has been strong support for the Dow since last April has risen to 10479 and only 42 points from today's low. The biggest market factor today was another drop in the Dow due to a continued fall in UTX. The stock has dropped -$6 (45 Dow points) in the last two days. Despite the thought process that the world is coming to and end for techs you might be surprised to learn that INTC, MSFT, CSCO and IBM all closed in positive territory. Each set new recent lows on Monday and rebounded today in what could be a leading indicator of a tech rebound in our future. The Russell and the SOX both closed in positive territory as well. The Russell seemed to find a bottom today at 570 with a small break of its 50dma at 574. The Russell closed at 572. The SOX appears to have found a bottom at 495 and closed just under 500 with its 100dma at 503. You can easily see that they better find support quickly or we are going to fall out of our current range. Russell-2000 - Daily SOX Chart - Daily I have been suggesting that the major indexes would trade in their ranges (10450-10700, 2000-2100) until we got through the February consolidation period. I think that is still a valid viewpoint as long as the Nasdaq holds its 1986 100dma. The real key for the current market is no longer the techs but the potential for the Dow to hit its 50dma at 10479. This has been a highly visible target since the end of November when it was last tested. Both the major indexes came very close to their critical numbers today. (10479, 1986) The Russell and SOX appear to be finding a bottom and the four biggest tech stocks all closed positive for the day. Today was the fifth down day for the Dow and S&P. All these factors are coming together to suggest it is time for a bounce. In circumstances like this there can be an explosive rebound as shorts who are thinking new lows get caught off guard and race each other to cover. It does not mean we are done with the selling but any decent bounce would relieve the oversold conditions and bring fresh money into the markets. Nothing goes straight down or straight up and a bounce is due. We could still see one more dip to actually test those critical levels before that bounce appears or we could simply move up at the open. I would rather see the dip to conclude the current cycle and I think a touch of the averages would attract stronger buying. Should the current support level (1986) fail for the Nasdaq the next support target is well below at 1900. I need at least one more dip so I can get an entry in EBAY at $65. (grin) That stock just refuses to go down despite a -25% drop in AMZN over the last month. Despite the drop in confidence there is no real sign the economy is slowing. Copper rose over $1 today and that is a clear indication that manufacturing is increasing. Oil closed at $34.58 and the market continues to ignore it even when most U.S. corporate profits are based on $22 oil. The Russian government layoff was ignored. The Greenspan attack on FRE/FNM had little impact on the broader market. This is a normal consolidation period and during a consolidation markets focus on the negative news rather than the positive. The S&P and Nasdaq lost only two points each. No real fear there. I have been telling you that we are going to trade in this range for the last three weeks. I have been suggesting that buying the dip was a valid strategy until conditions changed. Until we close below 10479/1986 those conditions have not changed and those tactics are still valid. We are at the point where that could happen tomorrow so be prepared. It will either be the best entry point of the week or the beginning of a new trend or both. We will not know the real answer until week is over. Enter Passively, Exit Aggressively. Jim Brown Editor ================================================================== 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 --------------------------------- Silicon Laboratories - SLAB - close: 54.27 change: +1.10 WHAT TO WATCH: Working its way higher in sawtooth fashion for the past couple months, SLAB bounced from the 20-dma the past two sessions and looks like it is beginning the next rebound that should take it up to challenge its recent highs near $60. Aggressive entries can be taken over $55, with the more conservative approach being a break over $56.25. --- Tidewater Inc. - TDW - close: 32.85 change: +1.00 WHAT TO WATCH: Oil exploration stocks have been responding favorably to the rise in the price of oil and TDW is right on the edge of a significant breakout. Use a trigger over $33.50, or $34 for a more conservative approach and target a near-term move to $36 enroute to strong resistance at $38. --- Protein Design Labs Inc. - PDLI - close: 23.36 change: -0.15 WHAT TO WATCH: Showing amazing relative strength compared to the overall Biotechnology index (BTK.X), PDLI has been in an aggressive bullish trend since breaking out at the end of November. Today's breakout marks a fresh 2-year high and we're looking for a run at the $26 resistance level. Use a trigger over today's high. --- Icos Corporation - ICOS - close: 37.42 change: -1.18 WHAT TO WATCH: On the other side of the Biotechnology index, ICOS has been in a bearish trend since topping out in early November and is in the process of breaking down after violating its 200- dma last week. Use a trigger under $36.90 (the January low) and target a move down to next strong support in the $30-31 area. Watch for potential support near $35. --- =================== On the RADAR Screen =================== IGT $37.08 - Finally taking a breather from its long-term bullish trend, IGT has been pulling back over the past few sessions and appears destined for a test of the 50-dma near $36.50. Prior touches of the 50-dma have provided solid entries into the bullish trend, and there's no reason to expect things to be any different this time. RTN $30.33 - Defense stocks have been on the defensive this week and RTN is in the process of breaking down on strong volume. Today's dip under $30 met with an afternoon rebound, but if today's lows are taken out on continued weakness, we can expect a drop to $28 support and possibly stronger support near $26. Use a trigger below today's low. LUV $14.04 - Airline stocks just can't seem to stop their downward slide and LUV once again broke near support on Tuesday. Use a trigger under today's low and target strong support near $12. =============================== Market Sentiment =============================== How many makes a trend? - J. Brown One or two days in a row may not make a trend but does five? Stocks slid for their fifth straight session with the NASDAQ hitting another new relative low under the 2000 level before a market-wide afternoon bounce lifted stocks. Throwing a wet blanket on the markets today was the February consumer confidence report. Economists had been looking for a decline to 92.9 from January's 96.8. What we got was a drop to 87.3. In spite of the bad news investors' moods seemed to be nonchalant about the report. As one trader put it today's action was more of buyers taking a break than seller's overwhelming demand. Overall the session wasn't as bad as it seemed. Sure there were more sector losers than winners but market internals were mixed. Advancing stocks edged past decliners 1459 to 1373 on the NYSE and lost the race 1377 to 1697 on the NASDAQ. Up volume did fall behind down volume but it was nothing dramatic. As a matter of fact by the end of the session some of the more optimistic trader talk was suggesting the NASDAQ may bounce tomorrow. While not directly related the volatility indices all traded lower, which means investors were feeling more bullish than bearish. Tomorrow we'll hear the existing home sales numbers and the markets will digest any news from Fed governor Poole's speech in N. Carolina. However, the big event on Wednesday will be Alan Greenspan's talk on his economic outlook. This alone could keep the major indices range bound. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 7416 Current : 10566 Moving Averages: (Simple) 10-dma: 10652 50-dma: 10479 200-dma: 9640 S&P 500 ($SPX) 52-week High: 1158 52-week Low : 788 Current : 1139 Moving Averages: (Simple) 10-dma: 1148 50-dma: 1123 200-dma: 1037 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 938 Current : 1462 Moving Averages: (Simple) 10-dma: 1490 50-dma: 1485 200-dma: 1352 ----------------------------------------------------------------- Volatility continues to drop despite the profit taking across most market sectors today. CBOE Market Volatility Index (VIX) = 15.90 -0.39 CBOE Mkt Volatility old VIX (VXO) = 15.80 -0.13 Nasdaq Volatility Index (VXN) = 24.68 +0.30 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.76 816,858 623,121 Equity Only 0.65 708,377 462,156 OEX 1.25 18,213 22,791 QQQ 4.64 14,027 65,112 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 76.2 - 1 Bull Confirmed NASDAQ-100 63.0 - 5 Bear Confirmed Dow Indust. 86.7 + 0 Bull Confirmed S&P 500 85.6 - 1 Bull Confirmed S&P 100 87.0 - 2 Bull Confirmed Bullish percent measures the number of stocks in an index currently trading on a buy signal on their point and figure chart. Readings above 70 are considered overbought, and readings below 30 are considered oversold. Bull Confirmed - Aggressively long Bull Alert - Cautiously long Bull Correction - Pause or pullback in upward trend Bear Alert - Take defensive action if long Bear Confirmed - High risk if long, good conditions for shorting Bear Correction - Pause or rebound in downtrend ----------------------------------------------------------------- 5-dma: 1.23 10-dma: 1.09 21-dma: 1.03 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 1459 1377 Decliners 1373 1697 New Highs 200 170 New Lows 17 21 Up Volume 726M 877M Down Vol. 1107M 1146M Total Vol. 1869M 2033M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 02/17/04 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 are still stuck in limbo with very little movement, although the movement this week was bullish. As is normally the case small traders moved the opposite direction. Commercials Long Short Net % Of OI 01/27/04 417,089 410,930 6,159 0.7% 02/03/04 411,920 414,596 (2,676) (0.3%) 02/10/04 412,217 414,044 (1,827) (0.2%) 02/17/04 416,148 415,278 870 0.0% 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 01/27/04 143,089 87,828 55,261 23.9% 02/03/04 141,465 81,926 59,539 26.7% 02/10/04 143,496 80,362 63,134 28.2% 02/17/04 141,533 84,227 57,306 25.3% 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 Commercial traders became slightly more bearish last week with a decent increase in short positions. Small traders increased both longs and shorts but overall look a lot more bullish. Commercials Long Short Net % Of OI 01/27/04 291,166 334,618 (43,452) ( 6.9%) 02/03/04 280,519 346,042 (65,523) (10.5%) 02/10/04 297,601 356,630 (59,029) ( 9.0%) 02/17/04 296,313 371,703 (75,390) (11.3%) 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 01/27/04 154,485 60,556 93,929 43.7% 02/03/04 133,293 55,476 77,817 41.2% 02/10/04 110,480 58,428 52,052 30.8% 02/17/04 144,014 64,391 79,623 38.2% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Commercials still aren't making any big changes here but they did turn slightly more bullish on the NDX. Small traders didn't move much. Commercials Long Short Net % of OI 01/27/04 43,704 40,951 2,753 3.3% 02/03/04 43,600 41,441 2,159 2.5% 02/10/04 44,406 40,439 3,967 4.7% 02/17/04 46,104 40,385 5,719 6.6% 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 01/27/04 10,137 10,715 ( 578) ( 2.8%) 02/03/04 8,907 13,729 (4,822) (21.3%) 02/10/04 9,906 13,018 (3,112) (13.6%) 02/17/04 9,630 12,338 (2,708) (12.3%) 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 Minor increases in both shorts and longs for commercial traders lead to a small up tick in bullish sentiment. Small traders turned slightly more negative on the Dow. Commercials Long Short Net % of OI 01/27/04 16,536 8,404 8,162 32.7% 02/03/04 17,765 9,619 8,146 29.7% 02/10/04 21,764 11,974 9,790 29.0% 02/17/04 24,451 12,907 11,544 30.9% Most bearish reading of the year: (8,322) - 1/16/01 Most bullish reading of the year: 15,135 - 10/16/01 Small Traders Long Short Net % of OI 01/27/04 7,240 12,372 (5,132) (26.2%) 02/03/04 6,352 13,113 (6,761) (34.7%) 02/10/04 6,267 14,220 (7,953) (38.8%) 02/17/04 6,768 15,623 (8,855) (39.5%) Most bearish reading of the year: (10,136) - 12/16/03 Most bullish reading of the year: 8,523 - 8/26/03 ----------------------------------------------------------------- ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright ) 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Tuesday 02-24-2004 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 Stock Splits: AMSG 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 ================================================================= Stock Splits ================================================================= Announcements ------------- AMSG announces 3-for-2 split with earnings. At today's closing bell AmSurg Corp (NASDAQ:AMSG) announced its Q4 earnings results and a 3-for-2 stock split. Earnings grew 29% to 40 cents a share while revenues rose 18% to $80.5 million for the quarter. The board of directors approved the 3-for-2 stock split in the form of a 50% stock dividend. The dividend is payable on March 24th, 2004 to shareholders on record as of March 8th. About the company: AmSurg Corp. develops, acquires and manages physician practice- based ambulatory surgery centers in partnership with surgical and other group practices. (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 VZ Verizon Communications 38.09 +1.08 GCI Gannett Co Inc 88.03 +1.23 GDW Golden West Financial 111.07 +1.07 HNZ H. J. Heinz Co 37.64 +1.24 BR Burlington Resources 56.59 +0.68 MUR Murphy OIl Corp 62.89 +0.84 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- VOXX Audiovox Corp 16.18 +1.10 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- NKE Nike Inc 74.26 +1.66 GDT Guidant Corp 67.99 +4.54 SBUX Starbucks Corp 38.86 +1.07 SEE Sealed Air Corp 49.86 +2.56 TTC Toro Corp 52.56 +2.56 IGI Imagistics Intl Inc 43.50 +1.10 ALXN Alexion Pharmaceuticals 23.29 +1.08 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- FNM Fannie Mae 76.41 -2.49 UTX United Technologies 91.83 -1.97 FRE Freddie Mac 62.12 -1.81 SNPS Synopsys Inc 29.88 -4.55 APH Amphenol Corp 59.30 -1.20 NFLX Netflix Inc 31.20 -3.82 ODSY Odyssey Healthcare 20.32 -7.11 OFIX Orhtofix Intl N.V. 45.21 -1.93 RRR Roto Rooter Inc 52.50 -6.20 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- CL Colgate-Palmolive Co 55.25 -0.76 LNC Lincoln National Corp 46.13 -1.03 CLFC Center Financial Corp 31.31 -0.20 ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to Contact Support ================================================================= DISCLAIMER ================================================================= This newsletter is a publication dedicated to the education of stock traders. The newsletter is an information service only. The information provided herein is not to be construed as an offer to buy or sell securities of any kind. The newsletter picks are not to be considered a recommendation of any stock but an information resource to aid the investor in making an informed decision regarding trading in stocks. It is possible at this or some subsequent date, the editors and staff of PremierInvestor.net may own, buy or sell securities presented. All investors should consult a qualified professional before trading in any security. The information provided has been obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. PremierInvestor.net staff makes every effort to provide timely information to its subscribers but cannot guarantee specific delivery times due to factors beyond our control. Please read our disclaimer at: http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html ***************************************************************** ADVERTISING INFORMATION For more information on advertising in PremierInvestor.net Newsletter, or any Premier Investor Network newsletter please contact Contact Support. ***************************************************************** Copyright 2003 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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