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Daily Newsletter, Wednesday, 03/10/2004

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PremierInvestor.net Newsletter                Wednesday 03-10-2004
                                                    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:  Markets Implode on Anniversary
Watch List:   ADBE, KKD, FLML, ABT

Trading Ideas
  Value Plays With Bullish Signals
  Breakout to Upside (Stocks $5 to $20)
  Breakout to Upside (Stocks over $20)
  Breakout to Downside (Stocks over $20)
  Recently Overbought With Bearish Signals (Stocks over $20)


===============================================================
MARKET WRAP  (view in courier font for table alignment)
===============================================================
     03-10-2004            High     Low     Volume Advance/Decline
DJIA    10296.89 -160.07 10473.86 10284.67 1.99 bln    622/2242
NASDAQ   1964.15 - 31.01  2007.25  1963.13 2.13 bln    690/2362
S&P 100   552.80 -  8.10   561.38   552.01   Totals   1312/4604
S&P 500  1123.89 - 16.69  1141.45  1122.53
RUS 2000  575.01 - 10.94   589.78   574.56
DJ TRANS 2788.48 - 45.82  2838.08  2786.61
VIX        18.67 +  2.07    18.07    16.11
VXO        18.80 +  2.43    19.23    16.75
VXN        26.05 +  1.35    26.07    24.41
Total Volume 4,626M
Total UpVol    833M
Total DnVol  3,690M
52wk Highs     335
52wk Lows       22
TRIN          2.46
PUT/CALL      0.91
===============================================================

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

Markets Implode on Anniversary
by James Brown

Ka-BOOM!  The major stock indices have stretched this week's
declines to three in a row.  Both the Dow and the NASDAQ are
negative for the year and that noise you heard was all three
indices, including the S&P 500, breaking major support today.
All of this comes on the March 10th anniversary of the NASDAQ's
all-time closing high at 5048 back in 2000.  It also happens to
be near the one-year anniversary of the market's bottom in March
2003.  The S&P closed at 800.73 on March 11th, 2003, dipped to an
intraday low of 788.90 the next day but rebounded sharply as the
Iraq war began.

This week's decline has been very wide spread affecting every
sector with virtually zero pockets of strength.  Those industries
hit hardest today were gold, oil services, drugs, broker-dealers,
semiconductors, internets, airlines and homebuilders.  The
hardware group did try and buck the trend but eventually
succumbed to the sell-off as it picked up speed this afternoon.
Strengthening the PC makers was a survey from International Data
Corp, which revealed that global PC shipments are expected to
climb by more than 10% in 2004 and 2005 and shipment value is
expected to rise more than 5% over the next two years.

U.S. markets weren't the only ones in the red.  Asian stocks were
lower as the Japanese NIKKEI lost almost 99 points to close at
11,433 and the Chinese Hang Seng lost 183 points to close at
13,214.  The British FTSE managed to close positive at 4545 with
a 3-point gain.  Meanwhile the German DAX slid more than 42
points to 4044.

What bulls should find disturbing about today's breakdown are the
internals.  Both the NYSE and the NASDAQ reported that declining
stocks outnumbered advancing issues by nearly 3-to-1.  This was
the weakest advance/decline reading since October 2002.  New 52-
week highs have withered to just 178 between the two exchanges.
Furthermore the down volume trampled up volume by more than 6-to-
1 on the NYSE and close to 3-to-1 on the NASDAQ.  Volume breached
more than 2 billion shares on both exchanges and was growing as
the sell-off gained speed into the afternoon.

The 160-point drop in the Dow Industrials to 10,296 crashed
through what should have been support at 10,400.  The next hope
for support is the simple 100-dma near the 10,200 level.
Coincidentally the 10,200 level also happens to be a 5%
correction from the recent top and traders trying to pick a
bottom might help support the markets there.  Personally, I
wouldn't be surprised to see the Industrials retest the 10,000
level before the end of March.

Chart of the Dow Industrials:



The tech-heavy NASDAQ Composite looks a lot worse.  The NASDAQ
has lost about 90 points (4.3%) in the last four sessions and
closed near its low for the day.  The breakdown under the 2000
level was bad enough on Tuesday but today's decline really
confirms the move and will play havoc on investor sentiment.
Optimistic traders can hope that the NASDAQ might find support
near 1935, which would be a 10% correction from its 2150 highs
but I would agree with Jim's assessment that the next true
support level is probably the 1900 level.  Any rally back towards
2000 is probably going to be seen as a chance to short the market
since broken support tends to become resistance.

Chart of the NASDAQ Composite:



The S&P 500 index lost 1.46% today and closed under its simple
50-dma for the first time since last November.  The good news is
that the S&P 500 is still green for 2004 but those gains are in
danger of vanishing.  The sell-off today managed to pause as the
SPX approached its late January support near 1120.  Whether or
not this level will hold is the real question.  The bad news is
that today's drop in the markets was finally echoed by a surge in
the volatility indices.  In the recent past the market declines
saw spikes in volatility but each time the spike only proved to
be a new lower high.  This time the VIX and the VXO (old VIX)
have produced a new higher high, breaking the descending
trendline.  There are a lot of traders, both big and small, that
follow the VIX/VXO, which has not been much help lately.  Today's
rally in the VIX shows a sharp increase in investor fear that
suggests this pull back is "for real" this time.

Chart of the S&P 500:



Chart of the VIX/VXO:



Wednesday's only major economic report was the January trade
deficit numbers.  Economists had been expecting the trade gap to
shrink in January to $41.9 billion.  Unfortunately the Commerce
Department announced that the trade gap hit a new record high at
$43.1 billion, above last March's $43 billion.  One of the main
culprits were meat and chicken exports, which shouldn't be a
surprise.  Exporters are still dealing with the mad cow scare and
the recent bouts of bird flu that prompted bans on U.S. poultry.
The export numbers showed beef and chicken products dropped 40%
to their lowest levels since November 1993.

The trade gap report undermined investor sentiment, which was
already weak given the two days of profit taking and the
technical breakdown in the NASDAQ yesterday.  A sign that
traders' attitudes have changed was the reaction to positive
news.  Rockwell Automation Inc (ROK) issued a positive earnings
pre-announcement saying its March quarter would be higher than
expected.  Analysts consensus estimates were 33 cents a share and
ROK now expects earnings in the 35 to 38 cent range as sales in
the first two months of the year have beaten forecasts.  ROK
gapped higher at the open but eventually faded into the afternoon
painting a discouraging failed-rally pattern and closing under
its simple 200-dma.

Investor reaction was even worse for Danaher Corp (DHR).  DHR
raised its Q1 earnings guidance to 81-86 cents a share above its
prior guidance of 76-81 cents and above consensus estimates at 80
cents.  Shares of DHR quickly shot higher at the open and traded
above its simple 10-dma briefly before promptly falling on strong
volume to a new five-week low at its 100-dma (87.99).  There is
some support at the $88.00 level but given the trajectory of this
afternoon's sell-off traders are probably betting on a test of
the $85 level.

It's not hard to imagine that if investors are reacting this
poorly to good news how would they react to bad news?  Just look
to shares of Krispy Kreme Doughnuts (KKD) to answer that one.
The stock dropped $3.94 to $34.22 on more than seven times the
average volume after reporting earnings that were in line with
analysts' estimates at 26 cents a share.  Revenues were up more
than 35% but margin pressures cratered investor confidence.  KKD
said operating margins at company-owned stores plummeted from
20.3% to 17.4%.  JP Morgan reiterated their "under weight" on the
stock and investors decided to exit.

Other notable decliners today were BRL, THC and GLBC.  Barr
Pharmaceuticals, previously Barr Labs (BRL), dropped more than $5
to $73.90 after management failed to raise their earnings
forecast at the company's analyst conference today.  Tenet
Healthcare (THC) dropped more than 14% to $10.06, a five-year
low, as investors fled over concerns that the company is running
out of cash.  Meanwhile shares of Global Crossing (GLBC)
collapsed for an $11 loss or 38% to $17.78 as investors reacted
to its first earnings report after returning from Chapter 11
bankruptcy.

Tomorrow should prove interesting.  Markets don't usually move in
a straight line for very long.  Even though the indices looks
terrible right now it wouldn't surprise me to see an oversold
bounce tomorrow, especially at the 10,200 level for the Dow.  I'd
like to think that Tech Data Corp's (TECD) positive earnings
report tonight after the bell might inspire some sort of rebound
in the tech sector but that could be wishful thinking on my part.
The next two days are overflowing with economic reports.
Tomorrow will bring the weekly initial jobless claims,
import/export prices, the February retail sales numbers, and the
natural gas inventory report.  The big report on Friday will be
the preliminary Michigan sentiment number unless of course the
government chooses to surprise us by publishing the long-awaited
PPI index.  On top of it all Greenspan will be speaking at two
separate engagements but don't expect him to say anything about
monetary policy.

Overall it looks pretty ugly out there.  The last three sessions
have broken major support in numerous sectors and an untold
number of stocks.  This could be the beginning of the Q1
correction we were expecting about 7 or 8 weeks ago.  Watch those
stop losses and think twice about initiating any new bullish
positions.


==================================================================
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
---------------------------------

Adobe Systems Inc. - ADBE - close: 35.05 change: -1.04

WHAT TO WATCH: After clinging to support near $36 on several
drops over the past couple months, ADBE finally broke down on
Monday, ending just above $35.  With earnings slated for March
18th, any continuation play will have to be a quick one, but a
break under today's low should be good for a drop to the $32
area.




---

Krispy Kreme Doughnuts Inc. - KKD - close: 34.22 change: -3.94

WHAT TO WATCH: Shares of KKD got taken apart on Wednesday in the
wake of the company's earnings report, as investors fretted over
declining store margins.  With the stock down over 10% today, it
feels like a chase for aggressive bears.  That said, if price
drops under $33.65, it would break the February lows and could
have the $30 level in play.




---

Flamel Technologies SA - FLML - close: 23.61 change: -1.39

WHAT TO WATCH: Rolling over again earlier this week, FLML broke
its 200-dma with conviction and is once again targeting a test of
critical support at $23.  A breakdown below that level will have
the $20 support level in play.  Use a trigger under $23.




---

Abbott Laboratories - ABT - close: 41.45 change: -0.95

WHAT TO WATCH: Pressured by the weakness in the rest of the
market, ABT smashed through its 200-dma and key support near $43
yesterday and kept on falling today, as selling volume continued
to rise.  Should the stock break $41, the bears will be targeting
the August lows near $38.  Use a trigger under $41.




---

===================
On the RADAR Screen
===================

FD $51.50 - We've been waiting for some serious profit taking to
occur to give us a setup for a bullish play on FD and it looks
like that's occurring this week.  Let the stock come down near
the $50 level and then look for bullish entries on a rebound from
the 50-dma.

THC $10.06 - Following its plunge in late January, THC has been
pinned to the mat near $12, but that tight range broke in a big
way on Wednesday, with the stock plunging more than 14% to end
just over the $10 level.  This is definitely only for the
aggressive bears out there, but with the stock now trading at its
lowest level since 1995, things are getting uglier by the day.
Use a trigger under today's low and look for a break of the all-
time lows just under $9.00.

HON $32.96 - Breaking down from its broad topping formation
yesterday, HON extended its losses on rising volume today and
looks headed for strong support at $30.  Aggressive traders might
consider chasing the stock lower with a break under $32.50, but
the better entry would be on a failed rebound under $34
resistance, using a stop just over last week's $35.50 high.


==================
  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

TOT     Total Sa (ADS)             93.61    +0.72
DEO     Diageo Plc (Ads)           54.76    +0.55
COF     Capital One Financial Cp   73.84    +1.03
TRB     Tribune Co                 50.50    +0.51
HNZ     H.J. Heinz Co              38.95    +0.87
DGX     Quest Diagnostics Inc      82.57    +1.04


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

None


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

PG      Procter & Gamble Co       105.53    +3.04
AVP     Avon Products Inc          73.59    +1.84
WWY     William Wrigley Jr Co      59.63    +1.69
HSY     Hershey Foods Corp         85.45    +1.45
MON     Monsanto Co                35.71    +1.05


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

UTX     United Technologies Corp   87.10    -1.65
SPY     Standard & Poors Dep Rec  112.58    -1.92
SAP     Sap Ag (ADS)               38.58    -1.42
D       Dupont E I Nemours & Co    41.95    -1.43
BMY     Bristol-Myers Squibb Co    26.07    -1.13
RTP     Rio Tinto Plc (ADR)        98.65    -6.35
EMR     Emerson Electric Co        61.80    -1.65
CAT     Caterpillar Inc            73.51    -2.89
STI     Suntrust Banks Inc         70.40    -1.68

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

ONE     Bank One Corp              54.88    -0.84
WB      Wachovia Corp              48.56    -0.29
VZ      Verizon Communications     38.27    -0.93
NSANY   Nissan Motor Co Ltd (ADR)  21.68    -0.56
KRB     MBNA Corp                  28.09    -0.54
ERICY   LM Ericsson Telephone Co   28.31    -1.20
SYMC    Symantec Corp              41.63    -1.61
UBB     Unibanco Uniao De Bancos   24.00    -0.76
BSC     Bear Stearns Companies     88.10    -0.94
LNC     Lincoln National Corp      47.07    -0.92


=================================================================
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 2004  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.





PremierInvestor.net Newsletter               Wednesday 03-10-2004
                                                   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
=================================================================

In section two:

Stop Loss Adjustments:   None

Net Bulls (Tech Stocks)
  New Bearish Plays:     CCMP
  Closed Bearish Plays:  CSCO

Active Trader (Non-tech Stocks)
  New Bullish plays:
  New Bearish Plays:     BBY
  Closed Bullish Plays:  XMSR

High Risk/Reward
  Closed Bearish Plays:  NETE


=================================================================
Stop Loss Adjustments
=================================================================

None


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

---------
New Plays
---------


  New Bearish Plays
  -----------------

Cabot Microelec. - CCMP - close: 40.85 change: -1.59 stop: 44.00

Company Description:
Cabot Microelectronics is a supplier of high performance
polishing slurries used in the manufacture of advanced integrated
circuit (IC) devices, within a process called chemical mechanical
planarization (CMP).  CMP is a polishing process used by IC
device manufacturers to flatten many of the multiple layers of
material that are built upon silicon wafers and necessary in the
production of advanced ICs.  CMP enables IC device manufacturers
to produce smaller, faster and more complex IC devices with fewer
defects.

Why we like it:
Shortly after the Semiconductor index (SOX.X) hit its January
highs, CCMP reversed from the $58 level, plunging precipitously
on the heels of its earnings report.  That drop didn't end until
the stock reached support near $42 and since then the stock has
been consolidating in a continuation flag pattern between $42-46.
That trading pattern has demonstrated the stock's weakness
relative to the SOX and it appeared only time separated the stock
from another breakdown.  The meltdown in the SOX this week has
certainly put pressure on the stock and with the SOX losing
another 2% on Wednesday, CCMP finally broke through the bottom of
its recent consolidation pattern.  Not only does this break near-
term support, but it issues a fresh PnF Sell signal, and suggests
the stock is now headed towards its bearish price target of $33.
That is interesting as it brings the 2002 lows in the $32-33 area
into play as a viable downside target.

While today's breakdown looks bearish, we need to exercise just a
bit of caution due to the possibility of support being found near
$38, the site of the lows from last March.  That support appears
tenuous though and at a minimum, CCMP should work its way down to
the $35 level.  The SOX is currently right at key support at $475
and the potential for a bounce there could spill over into shares
of CCMP and produce a bounce back to test resistance in the $42-
43 area before the decline continues.  For that reason, our
preferred entry strategy would be on a failed bounce in that
area.  Traders looking to enter on further weakness will want to
confirm sector weakness with the SOX continuing its breakdown.
If entering on the breakdown, we'd suggest using a trigger of
$40.50, which is just below today's intraday low.  We're setting
our stop initially at $44, which is just over yesterday's
intraday high, as well as the 20-dma at $43.96.

Annotated Chart of CCMP:



Picked on March 10th at     $40.85
Change since picked          +0.00
Earnings Date              1/22/04 (confirmed)
Average Daily Volume =       822 K



============
Closed Plays
============


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

Cisco Systems - CSCO - close: 22.21 change: +0.09 stop: 24.00

CSCO has yet to make a serious attempt at breaking its prevailing
downtrend, but today's price action should make bears rather
nervous.  All the major sectors of the market ended in the red
and yet CSCO managed to close in positive territory.  This hints
that perhaps the downward move is at a near-term bottom.  With
the heavy selling in the rest of the market, CSCO should have at
least taken out the $22 support on an intraday basis, and since
it didn't we're going to err on the side of caution and harvest
the small gains that exist in the play.  We'll look for a
possible failed rebound under resistance to potentially take
another shot at a breakdown.

Picked on February 22nd at  $23.19
Change since picked          -0.98
Earnings Date              5/11/04 (confirmed)
Average Daily Volume =    52.2 mln





=================================================================
Active Trader (AT) Non-Tech Stock section
=================================================================


---------
New Plays
---------

  New Bearish Plays
  -----------------

Best Buy Company - BBY - close: 48.50 change: -2.14 stop: 52.75

Company Description:
Best Buy Co., Inc. is a specialty retailer of consumer
electronics, home office equipment, entertainment software and
appliances.  The company operates retail stores and commercial
Websites as part of continuing operations under the brand names
Best Buy (BestBuy.com), Future Shop (FutureShop.ca) and Magnolia
Hi-Fi (MagnoliaHiFi.com).  BBY has two reportable operating
segments, Domestic and International.  Domestic includes United
States Best Buy and Magnolia Hi-Fi stores.  International
consists of Future Shop stores operating in Canada, as well as
Canadian Best Buy stores.

Why we like it:
We've had our eye on BBY for several weeks now and the stock has
made more than one appearance on the Watch List, as we've been
waiting for a definitive resolution of its trading range between
$50-55.  Today we got our answer, as BBY succumbed to the
weakness in the rest of the market, plunging through the 200-dma
($50.32) and ending at its low of the day, right at the December
low of $48.50.  In addition to the break of the 200-dma, the key
is the action on the PnF chart.  BBY issued a new Sell signal and
now has a tentative bearish price target of $43, which is just
above the bullish support line at $41.  Volume on today's drop
was strong, more than doubling the ADV and suggesting that this
is the beginning of a move with some conviction.  Looking at the
daily price chart, we can see that BBY is right at the bottom of
a consolidation flag that has been building since early December
and a confirmed break below $48.50 should have downside potential
at least to the $42 level.

Because today's decline paused right at the December lows, we're
going to use a trigger of $48, hopefully avoiding any chance of a
bear trap.  Aggressive traders can enter on the initial
breakdown, but given the stock's nearly $6 slide in the past 6
sessions, it feels like an oversold bounce could be in the works.
That means the lower risk entry will be on a rollover below the
$51 level, with the 200-dma now acting as key resistance.  Once
below $48, we can expect to see mild support at $46 and then
again at $44 on the way down to our $42 target.  Should the
selling really get out of hand, a drop to test the August lows at
$40 could be in the cards, but we'll evaluate that potential as
price approaches our $42 target.  Set stops initially at $52.75,
which is just above all of the shorter-term moving averages, all
of which are clustered in the $51.66 (10-dma) to $52.61 (20-dma)
range.

Annotated Chart of BBY:



Picked on March 10th at     $48.50
Change since picked          +0.00
Earnings Date              1/31/04 (confirmed)
Average Daily Volume =    3.73 mln



============
Closed Plays
============

  Closed Bullish Plays
  --------------------

XM Sat. Radio - XMSR - cls: 25.18 chng: -0.39 stop: 24.50

Looking solid on Monday with its ability to buck the selling
trend in the rest of the market, XMSR seems to have lost its way
and is joining the bearish trend of the overall market.
Yesterday's drop was well contained, as the stock held over the
10-dma, but today's dip to test the 50-dma causes some concern.
Adding to those concerns are fresh sell signals on Stochastics
and MACD and it appears that more weakness is in the immediate
future.  Rather than wait for our stop to be hit, we're going to
exit the play tonight.  Use any rebound on Thursday to gain a
more favorable exit.

Picked on February 25th at  $23.95
Change since picked          +1.23
Earnings Date              2/12/04 (confirmed)
Average Daily Volume =    6.76 mln





=================================================================
High Risk/Reward (HR) Stock section
=================================================================


============
Closed Plays
============


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

Netegrity, Inc. - NETE - cls: 8.54 chng: +0.20 stop: 9.40

While it has definitely gone in our direction, NETE has not been
the play we had hoped for.  The stock has continued to post a
pattern of lower highs, but support at the $8.25 level has been
stubbornly defended and the end of day rebound looks
discouraging.  In light of the weakness in the rest of the market
so far this week, the stock really should have broken down and
the fact it didn't hints that perhaps we've seen the bottom for
the move.  It seems prudent to harvest our gains and funnel cash
into more promising plays.  Aggressive traders might hold for a
breakdown under support, but stops should be breakeven or better
in case of a strong oversold bounce.

Picked on February 4th at    $9.16
Change since picked          -0.62
Earnings Date              1/26/04 (confirmed)
Average Daily Volume =       754 K





=================================================================
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 (c) 2004  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.






DISCLAIMER

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.

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Option Investor Inc
PO Box 630350
Littleton, CO 80163

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