PremierInvestor.net Newsletter Thursday 02-26-2004 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: Battle For Control Market Sentiment: Less Bullish Watch List: ADRX, DY, HAL, TYC ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 02-26-2004 High Low Volume Adv/Dcl DJIA 10580.14 - 21.50 10612.14 10539.33 1.77 bln 1994/1220 NASDAQ 2032.57 + 9.60 2037.17 2012.83 1.76 bln 1944/1236 S&P 100 565.49 - 0.37 566.99 563.08 Totals 3938/2456 S&P 500 1144.91 + 1.24 1147.23 1138.62 W5000 11162.14 + 28.50 11177.06 11088.70 RUS 2000 583.86 + 4.82 583.86 576.58 DJ TRANS 2891.78 + 22.80 2892.76 2861.22 VIX 14.83 - 0.01 15.33 14.69 VXO (VIX-O)14.65 - 0.34 15.59 14.59 VXN 23.10 - 0.45 24.14 23.07 Total Volume 3,800M Total UpVol 2,552M Total DnVol 1,169M Total Adv 4439 Total Dcl 2776 52wk Highs 350 52wk Lows 12 TRIN 0.93 PUT/CALL 0.64 ================================================================= =========== Market Wrap =========== Battle For Control The fight for leadership continues to keep the markets in their recent ranges as mixed indexes and sector rotation proceeds on low volume. The Dow closed down while the Nasdaq stretched its gains but the real heroes were the Russell and the SOX. Small cap techs continue to rebound from the weeks of profit taking but they are still struggling to swim upstream weighted down by heavy blue chips. Dow Chart - Daily Nasdaq Chart - Daily The morning started off negative with the Jobless Claims rising to hit the 350,000 level again and helped to increase the rising fear that jobs are not improving. We will get the nonfarm payrolls for February next Friday and with the rising claims the odds are good we are not going to see a strong bounce in payrolls. What we appear to be seeing is a mild reduction in individual layoffs but no real pickup in hiring. The Monthly Mass Layoffs announced on Wednesday rose to highs not seen since Dec-2002 and was the second month of strong increases. The January layoffs at 239,454 was a +25% jump over December and a +73% rise over November. These are very strong jumps and suggest the corporate world is still doing some belt tightening. AT&T announced 4600 job cuts yesterday and Apple announced an undisclosed number of layoffs in their education unit as well. The Help Wanted Index rose one point to 38 for January but this is not significant as the index has been moving between 37-39 for the last year. Still no pickup in advertising for new jobs. This could be seen as confirmation that the payroll number next week could be weak. The most negative number for the day was the Durable Goods Orders which fell -1.8% for January. Fortunately the December number at +0.0% was revised up to +1.6% which blunted the bad news for January. For the last three reporting months we had -2.4% in Nov, +1.6% in Dec and -1.8% in January. You can quickly see we are averaging a drop of nearly -1.0% for the last three months. Computer products dropped -2.1% in January and aircraft and motor vehicles fell -10.2%. If it were not for a giant +73.3% gain in communications equipment, the largest gain since 1997, the headline numbers would have been seriously deficient. The shipment component was flat and back orders fell for the first time in six months. This was not a good report and all eyes will be on the ISM release next week for more current info. January New Home Sales fell to 1.106M and the lowest level since May-2003 but the culprit as we know was the weather. The pace is still strong despite the drop and once the spring weather appears I suspect sales will return. Inventory has risen to a 4.1-month supply and with rates close to hitting six month lows again that inventory should be sold quickly this spring. Toll Brothers reported a +10% gain in profits today and said it saw no signs of slowing demand so far in February despite the bad weather. They said results were impacted by the weather which delayed completions and scheduled closings. Obviously these will catch up once the sun returns. TOL projected +20% revenue growth for 2004. PeopleSoft got a reprieve today when the government said it would file suit to block the Oracle takeover as anti competitive. Larry Ellison has threatened to sue the government if the deal was blocked and it looks like he will get his chance. Once the ruling was announced BEAS spiked upward on the rumor that a failed takeover try of PSFT would have ORCL looking for other targets. DNA got approval for an anti cancer drug that is supposed to add five months to the life expectancy of colon cancer patients. In anticipation of this approval the stock has surged from $40 to $98 and an increase of $30 billion in market cap. The stock surged on the approval today from $98 to $103 adding even more to the market cap increase for this one drug. IF this was going to be a blockbuster like Viagra or Prilosec if would have to apply to a larger segment of the population than just colon cancer patients. I find it hard to believe this gain will stick and I believe you are looking at the Editors Play for Sunday. Hint, hint. The indexes posted a lackluster day of trading on weak volume and a lack of big cap leadership. The Dow continued to trade sideways just below 10600 for the fourth consecutive day and showed no real inclination to fight the status quo. While it waits for motivation the 50dma continues to rise and was slightly over 10502 at the close. Instead of the Dow falling to retest the 50dma support the 50dma is slowly rising to meet the Dow. This sets up an interesting scenario of a support test without a drop. Is it a valid retest? That remains to be seen and at the current rate of ascent and the weakness in the Dow that touch could come as early as Friday. The Nasdaq closed at 2031 and well over the low for the week at 1991. That low was only +5 points above the 100 dma and is close enough for a support test for me. The next real test for the Nasdaq is the 50dma just overhead at 2048. When you consider the weakness in the Dow the Nasdaq has been holding up the markets since Tuesday. Actually it has been the small cap techs in the Nasdaq that are seeing the new buying interest. The Russell and the SOX have been the stars. The SOX has moved up for three consecutive days and closed just below 510 today. Comments from NVLS and several other chip stocks have been reinforcing the idea that chip orders are rising quickly and where the SOX goes the Nasdaq will follow. The SOX will hit new resistance at 515. Semiconductor Index - Daily Russell Chart - Daily The Russell is in the best shape of any index and is only 14 points below its February high. We had a very successful test of the 50dma this week with three days of trading on that support before it launched the current strong move. The Russell closed exactly on its 10dma today at 583 and that should be the last line of resistance before a return to the highs. This is very bullish and if it continues the little guys could actually drag the blue chips back from the cliff and trigger the start of the April earnings run. With the exception of the Dow all the major indexes have been improving slightly as the week progresses. The Dow would be taking part in the rebound if it were not for three stocks. In the last four days UTX has dropped from $97 to today's low of $89 and impacted the Dow to the tune of -60 points. Boeing dropped to $42 from $45 for another -21 Dow points. MMM fell from nearly $81 to $78 for -21 Dow points. That is only three stocks that have accounted for over -100 Dow points over the last four days and the Dow closed today only a handful of points below Monday's close. The Dow has taken the whipping and held its ground. Tomorrow the challenge will be the GDP revision at 8:30. Estimates are for a drop to +3.6% from the initial estimate of +4.0% last month. Nobody expects a material revision but you never can tell. Also out on Friday is the Consumer Sentiment, Chicago PMI and the NY-NAPM. Considering how the recent economic reports have been all over the map we can't count on these reports being business as usual. There is always a risk that some number will stray from the acceptable norm. Friday is also month end and the next three days are historically bullish as window dressing and month end cash flows push stock prices higher. Traders looking for a bounce to lighten the load are probably looking at the next three days for that purpose as well. We are still in a consolidation period and until the indexes start pushing away from the averages and venturing out toward the recent highs there is not going to be much excitement. Trading this week has been very boring and interspersed with only a few random program trades to wake traders up. Volume has been very light with the last two days trading less than 3.8B shares across all markets. We were hitting 5.2B when the markets were at their highs. After Friday we will be two thirds of the way through the quarter and traders will probably start thinking about positions for Q1 earnings. They will probably not enter those positions until after the Employment Report next Friday. Nobody wants to make a big bet only to have it blow up on them with a negative jobs report. I am still in "buy the dip" mode and so far it is working fine. Last Thursday I told you to expect some bargain hunting opportunities this week and the dip played out as expected. The Nasdaq stopped its drop at 2000 and the SOX and Russell both rebounded from textbook tests of support. I am not ready to sound the charge yet but I do think we are getting close. Enter Passively, Exit Aggressively. Jim Brown Editor =============================== Market Sentiment =============================== Less Bullish - J. Brown Thursday was a lot less bullish than I had expected, at least considering the major indices closing numbers. Maybe it was the disappointing durable goods orders. The new home sales figures were actually better than expected. The NASDAQ did continue its bounce from Tuesday's low boosted by strength in the networking, hardware and Internet stocks. Yet the Dow and the S&P merely churned sideways. Looking back this month appears to be living up to its historical trend for consolidation. We could still be dealing with a "tired" market. The DJIA and SPX really haven't produced a decent correction and traders may be reluctant to chase stocks here without a clear catalyst to drive stocks higher. Fortunately, the big picture for stocks this year remains positive. Greenspan's comments yesterday are bullish for the markets. Market internals were bullish with advancing stocks outpacing decliners 17 to 10 on the NYSE and 18 to 12 on the NASDAQ. Up volume was about twice as strong as down volume on both exchanges. Noteworthy sector moves is a new, almost two-year high for the biotech index (BTK.X), which was fueled by a $7 run in Genentech (DNA) after the FDA approved its drug for colon cancer. The oil index (OIX) has finally broken out above resistance at the 330 level and the oil services index (OSX) has hit another new high as oil closes above $35 a barrel. The DJUSHB home construction index turned in a strong 3.77% gain today after the better than expected new home sales numbers and the group looks poised to challenge its all-time highs. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 7416 Current : 10580 Moving Averages: (Simple) 10-dma: 10635 50-dma: 10502 200-dma: 9659 S&P 500 ($SPX) 52-week High: 1158 52-week Low : 788 Current : 1144 Moving Averages: (Simple) 10-dma: 1146 50-dma: 1126 200-dma: 1039 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 938 Current : 1477 Moving Averages: (Simple) 10-dma: 1483 50-dma: 1488 200-dma: 1355 ----------------------------------------------------------------- The volatility indices have been crashing the last three sessions even though the markets haven't been making any huge gains. This is a sign of investors confidence and suggests we could see another move higher soon in the indices. CBOE Market Volatility Index (VIX) = 14.83 -0.10 CBOE Mkt Volatility old VIX (VXO) = 14.65 -0.34 Nasdaq Volatility Index (VXN) = 23.10 -0.45 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.64 714,777 460,082 Equity Only 0.52 607,116 316,163 OEX 0.92 16,687 15,408 QQQ 1.80 38,236 69,009 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 76.0 + 0 Bull Confirmed NASDAQ-100 61.0 - 2 Bear Confirmed Dow Indust. 86.7 + 0 Bull Confirmed S&P 500 85.4 + 0 Bull Confirmed S&P 100 87.0 + 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: 1.15 10-dma: 1.08 21-dma: 1.03 55-dma: 1.00 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 1761 1863 Decliners 1063 1184 New Highs 194 132 New Lows 6 6 Up Volume 1103M 1171M Down Vol. 572M 531M Total Vol. 1701M 1733M 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 ----------------------------------------------------------------- ================================================================== 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 --------------------------------- Adrx Corporation - ADRX - close: 29.71 change: +1.90 WHAT TO WATCH: Along with much of the broad market, ADRX has been acting bullish for the past few months, but the stock got an extra shot of adrenaline in early February, breaking out over the $26 level. After consolidating that move, it looks like another breakout is in progress. Use an entry trigger over $30 and target a run to the $35 area. --- Dycom Industries Inc. - DY - close: 26.36 change: +0.83 WHAT TO WATCH: Breaking its recent downtrend in explosive fashion on Tuesday, shares of DY have now risen right to resistance at $26.50, breaking back over the 50-dma today. Use a trigger over $26.60 and target a rally back to the $30 level, the site of the January highs. --- Halliburton Company - HAL - close: 31.73 change: +0.59 WHAT TO WATCH: Once it broke out over the $26 resistance level, HAL has been running strongly higher in a 2-month rising channel. The dip earlier this week found support right at the bottom of that channel and the stock is on the move again. Use an entry trigger at $32, which will be a new 2-year high. Look for a continued rise to $35-36 resistance. --- Tyco International Ltd. - TYC - close: 28.40 change: +0.26 WHAT TO WATCH: We've looked at shares of TYC in this space a few times recently, as the stock continues to work its way higher in a year-long rising channel. Earlier this week, the stock pulled back to the midline of that channel and rebounded from just above the 50-dma. With oscillators turning north again, this looks like a good opportunity to step into the bullish trend and ride it higher in the weeks ahead. --- =================== On the RADAR Screen =================== APA $40.68 - After a sharp bout of profit taking in late January, APA has built a fresh base and is once again making a run at its highs near $43. Today's breakout over the 50-dma points to a breakout rally already underway. A dip back near the 50-dma can be used for entry, targeting a return to the January highs. YUM $37.04 - After consolidating between $32-35 for the past several months, YUM broke out earlier this month and has been moving steadily higher. Today's strong rally produced a breakout to new all-time highs and it looks like the bulls are firmly in charge. Ideal entries will be found on a pullback to confirm support just below $36 before a continued bullish move towards the $40 level. KKD $38.02 - Following a brief dip under $35, KKD found some relief from the buyers and is back to testing near-term resistance. A break over $38.30 can be used for a breakout entry, targeting a rise back towards the $42-43 resistance level. Watch for potential resistance at the 200-dma at $39.67. ================================================================= 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 02-26-2004 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: BA Stock Splits: HBHC, IDSA, NIHD 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 ================================================================= The Boeing Co. - BA - close: 42.44 change: -1.38 stop: 42.25 Along with several other Defense stocks, BA got knocked back on Monday on news of the Pentagon canceling the Comanche helicopter program. For a couple days, it looked like the stock would regain its footing near the $43 support level and make another run at the $45 resistance level. Those expectations were nullified this morning though, as the stock plunged again, briefly trading under $42 (and triggering our stop). With the close under the 50-dma, the stock is not looking very healthy and it's clear that our stop was in the right place. It's definitely time to move on. Picked on February 11th at $44.49 Change since picked -2.05 Earnings Date 1/29/04 (confirmed) Average Daily Volume = 3.09 mln ================================================================= Stock Splits ================================================================= Announcements ------------- HBHC declares a 2-for-1 stock split About 90 minutes after the closing bell this evening Hancock Holding Company, the parent of Honcock Bank in Missippi and Louisiana, announced that its Board of Directors had approved a 2- for-1 stock split of its common shares. The split will take effect as a 100% stock dividend. This dividend is payable on March 18th, 2004 to shareholders on record as of March 8th. About the company: Hancock Holding Company -- the parent company of Hancock Bank Mississippi and Hancock Bank of Louisiana -- has assets of $4.2 billion. One-hundred- five-year-old Hancock Bank ranks among the top 4.6 percent of America's financial institutions for financial strength and stability, according to Veribanc, Inc., and has received a BauerFinancial, Inc., five-star superior rating (the highest rating possible) for the past 36 consecutive quarters. Hancock Bank operates 102 full-service offices and more than 140 automated teller machines throughout South Mississippi and Louisiana as well as subsidiaries Hancock Investment Services, Inc., Hancock Insurance Agency, Hancock Mortgage Corporation, Magna Insurance Company, and Harrison Finance Company. (Source: Company Press Release) --- IDSA declares a 2-for-1 stock split This morning before the opening bell Industrial Services of America, Inc. (NASDAQ:IDSA) announced that its board of directors has approved a 2-for-1 stock split of its common shares. The payable date for the split will be March 30th, 2004 for shareholders on record as of March 16th. About the company: Industrial Services of America, Inc., is a management services company that offers total package waste, scrap and recycling management services to commercial and industrial customers nationwide, as well as provides recycling and scrap processing and waste handling equipment sales and service (Source: Company Press Release) --- NIHD dials up a 3-for-1 stock split. This morning before the opening bell NII Holdings, Inc (NASDAQ:NIHD) reported fourth quarter earnings and announced a 3- for-1 stock split of its common shares. Details on the stock split are as follows. The split will take form as a stock dividend. The dividend will be payable on March 22nd, 2004 to shareholders on record as of March 12th. Shareholders will receive two extra shares for each share they own. About the company: NII Holdings, Inc., a publicly held company based in Reston, Va., is a leading provider of mobile communications for business customers in Latin America. NII Holdings, Inc. has operations in Argentina, Brazil, Mexico and Peru, offering a fully integrated wireless communications tool with digital cellular service, text/numeric paging, wireless Internet access and Nextel Direct Connect., a digital two-way radio feature. (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 CHA China Telecom 38.26 +1.11 BCM Canadian Imperial Bank 50.59 +1.97 ETR Entergy Corp 58.39 +0.79 AT Alltel Corp 51.54 +0.74 DVN Devon Energy Corp 56.00 +0.80 BR Burlington Resources 57.96 +0.67 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- ENZN Enzon Pharmaceuticals 16.37 +1.27 DCGN Decode Genetics 13.20 +2.60 CLB Core Labs 19.35 +1.13 VTS Veritas 16.35 +2.16 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- DNA Genentech Inc 103.10 +7.02 RCL Royal Caribbean Cruises 44.39 +1.11 JCP J.C.Penney Co 31.00 +1.24 MGG MGM Mirage 44.31 +1.46 TIF Tiffany & Co 42.65 +3.17 DF Dean Foods 36.34 +1.24 PHM Pulte Homes 50.21 +3.16 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- UTX United Technologies 89.88 -2.42 PAYX Paychex Inc 31.90 -1.01 CNI Canadian Natl Railway 58.40 -1.03 ESI ITT Eductional Services 37.26 -1.24 SCHL Scholastic Corp 31.98 -2.42 SRZ Sunrise Senior Living 37.82 -4.08 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- UN Unilever N.V. 72.53 -0.87 SEB Seaboard Corp 341.00 -4.00 ================================================================= 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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