PremierInvestor.net Newsletter Tuesday 04-20-2004 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: Greenspamed Again Watch List: PRU, AAP, DHI, NEM Market Sentiment: Rate Fears Loom Again ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 04-20-2004 High Low Volume Adv/Dcl DJIA 10314.50 -123.40 10487.67 10313.58 1.95 bln 763/2498 NASDAQ 1978.63 - 41.80 2032.41 1978.63 1.92 bln 965/2243 S&P 100 547.10 - 8.68 557.55 547.10 Totals 1728/4741 S&P 500 1118.15 - 17.67 1139.26 1118.09 W5000 10931.10 -170.90 11140.80 10931.06 SOX 469.70 - 17.30 490.32 469.69 RUS 2000 575.81 - 11.14 591.96 575.79 DJ TRANS 2911.27 - 12.50 2954.51 2909.98 VIX 16.67 + 1.25 16.72 14.79 VXO (VIX-O)16.51 + 1.28 16.59 14.74 VXN 23.07 + 1.67 23.12 21.01 Total Volume 4,231M Total UpVol 739M Total DnVol 3,464M Total Adv 1991 Total Dcl 5353 52wk Highs 254 52wk Lows 113 TRIN 1.03 NAZTRIN 1.52 PUT/CALL 0.81 ================================================================= =========== Market Wrap =========== Greenspamed Again by Jim Brown It was supposed to be a calm day with no doomsday comments from Alan Greenspan as he talked about the banking system. The prepared comments were tame and nobody got excited but the Q&A turned up the heat. Just as in the past several supposedly tame comments suddenly triggered a mass exodus and the Dow dropped more than -150 points in the last hour. Wonder what he is thinking tonight about his major appearance before the joint economic committee tomorrow? Dow Chart - Daily Nasdaq Chart - Daily Semiconductor Sector - Daily It definitely was not economics that tanked the markets today because there was only one report. The Chain Store Sales rose +1.0% last week as consumers spent their tax refunds on spring items and nobody is complaining about that. This was the third week of increasing gains and some analysts think it is also a factor showing increasing job growth. I think that is a stretch but I report, you decide. Analysts are expecting sales to slow in April to +5% from the +7% rate in March. They are suggesting the calendar and the weather accelerated buying a couple weeks earlier than normal. The bad news that tanked the market was actually good news. Greenspan said the health of the banking sector was very good and they would not be hurt by rising interest rates. What rising rates? Traders were quick to translate that comment into the logical progression that the Fed was going to raise rates soon. Why else should the Fed head say they were in good shape for the coming change. Secondly he said "American companies had regained some pricing power" and that was one of the items on the list that needed to be checked off before the Fed could act. Strike two for the markets. If that was not enough he continued praising the strength of the economy and expressed his confidence that jobs would rise strongly. All good news for the economy but not for the interest rate outlook. The third strike came when he said the deflation monster was dead. He said "deflation was no longer a potential problem" leaving the Fed could concentrate on controlling inflation. Oops! Without the risk of deflation to keep the Fed in check and with inflation appearing in almost every report Greenspan is clear to act. The only weapon in his arsenal to slow inflation is the interest rate club. He was clearly dusting it off today and the market cowered in fear. One quick question. Is there anybody in the market today that did not know interest rates were about to go up? I seriously doubt it. Now the $64K question. Why did the market take it so hard? The market died because the time table suddenly jumped from Sept/Jan to June/August and right in the middle of the six month equity window. The Fed funds futures jumped to a 35% chance of a hike in June and a 100% chance of a hike in August. They are also indicating a potential 100 basis point hike by January. To go from a standing start to +100 points (four quarter point hikes) over the next eight months was simply too big a leap for the bulls. Confusion is running rampant and Greenspan speaks again tomorrow on economic policy. How much more good news can the bulls take? The next Fed meeting is May 4th, two weeks from today and there is always an outside chance the Fed could jump start the process beginning in May. No reasonable analyst is suggesting that but with an election looming the Fed may want to act soon and avoid a rate hike immediately before the election. They could hike in May and again in June then rest until November. The August and September meetings would be speed bumps where the threat of a hike could be as effective as a hike without the political impact. In order for this to work they would have to act quickly to get the first ones on the board. The challenge for the Fed is employment and the summer doldrums. They really need to see if jobs were created in April and that report is due out on Friday May 7th and the FOMC meeting is Tuesday May 4th. You and I both know the Fed will have the numbers in advance of the release. That would suggest another blowout jobs number could trigger a hike in May to shock the market and start the process. No hike at the May-4th meeting will instantly create serious discussions about the coming jobs report. That same week we have the ISM report (Monday) Layoffs, Factory Orders, Productivity, Wholesale Trade and others. Plenty of data for the Fed to analyze for their Tuesday decision. McTeer had already set the stage this morning by saying the Fed could raise rates and still be seen as accommodative. This was another implied warning for those that refuse to believe that the Fed is coming. He added to this by saying the unexpectedly sharp rise in the March Consumer Price index was disturbing. His comments probably tilted the sentiment into the worry column and Greenspan's comments finished the job. Like I said above, nobody is suggesting the Fed will hike in May. It is the worry that they COULD hike suddenly that put the fear in the market. Greenspan was seen as clearing all the roadblocks off the table in an appearance that was not seen as a policy event. Traders were suddenly afraid the policy discussion due on Wednesday could be much more hawkish and profits from last weeks rebound were quickly taken. I mentioned on Sunday that there was no real catalyst to move the markets higher despite the better than expected earnings. We had the expiration bounce on Friday and rather listless trading so far this week. After today's drop it is going to take a serious catalyst to move them higher. After the bell today we had a strong report from Motorola which beat estimates of seven cents with a whopping +25 cents. Troubles at Nokia were apparently rainbows for Motorola. If you remember I posed that question two weeks ago when NOK warned. They said the sector grew 25% for the quarter and I suggested somebody got the business since it was not NOK. Evidently MOT was standing at the head of the line. MOT also raise estimates for the current quarter and the stock shot up +25% in after hours trading. While MOT may bounce semi stocks on Wednesday the news from the rest of the sector was not as positive. Other chip/tech companies reporting tonight included AMCC which beat by two cents, SIMG and SANM beat by a penny, STK, STX and MKSI announced inline, PSEM missed by a penny. WEBX beat by a penny and lost -$4.50 in after hours on guidance. Obviously the broader results were less exciting for that sector. Nasdaq futures are only up slightly in after hours. Stocks were not the only major movers today. The dollar soared to a five month high and gold fell under $400 once again. Bonds dropped but not as much as you would have expected with the yield on the ten year still hovering in the 4.41% range. The bonds have been early to this move with a major sell off over the last two weeks. Stocks are finally catching up. The Dow rose to within 13 points of 10500 this morning but closed within 16 points of 10300 this afternoon. With that move it covered its entire range for the last week. Today's drop took it below the 50 and 100dma and the uptrend support dating back to August. 10325 was support for two days last week and today's close was the lowest close since March 29th. The Nasdaq lost -42 points to close at 1979 and also the lowest level since March 29th. The 29th was a major gap up day and a touch of 1962 would fill that gap. I suspect a drop to 1962 will be the least of our problems. Should we move below 1960 I think the Nasdaq has risk to 1900 or lower. On the surface we appear to be oversold from today's drop. However, the risk of a more in-depth policy clue from Alan Greenspan on Wednesday suggests we are not going to rebound out of the gate. We are seeing a minor bounce to the futures overnight and we could see some gains at the open but I would not bet on it. I have mentioned before that the market looks for excuses to explain major moves. Everyone knew earnings were going to be strong. Everyone knew rates were about to go up. Everyone knew Greenspan was going to speak today and tomorrow. I doubt anyone expected him to give the "Fed will be patient for a considerable period" speech. The market is priced to perfection for the current earnings and interest rate environment and a sudden change in that status quo will force an adjustment in stock prices. Contrary to public opinion stocks do go up in rising rate environments. Under the most pessimistic rate threat of a +1% hike over the next 12 months we would still only be at a 2% Fed funds rate. Those traders who have been in the market for longer than a couple years would not worry about the long term impact of a 2% Fed rate. The market is simply adjusting to the new environment and used the change as an excuse to take profits. The electric shock rocket short-circuited today and those holding the stock received a shock to their portfolio. Yes, TASR fell back to earth today with a -$34.55 loss (-28%) on better than expected earnings. Yes, TASR beat the street by two cents when traders were hoping for a couple dollars if you believe the gains in the stock over the last couple of weeks. Revenue soared +300% to $13.1 million for the quarter. Yes, $13 million not billion. The company had a market cap yesterday of $1.5 billion but that was cut by nearly a third today. Everyone knew it would eventually end badly but not necessarily all in one day. TASR has 9.3 million shares available for trading and nearly 50% of that total was short according to the latest numbers. However 32 million shares were traded today, nearly four times the number of shares available. That is even more amazing if you take into account the 3.5 million held by institutions. I suspect more than one trader bought the dip today thinking the misfire in the shock rocket was a buying opportunity. Tomorrows trading could be hazardous. Volatility has returned and sentiment took a severe hit today. We have Greenspan speaking again on economic policy and the Fed Beige book. It could be the 1-2 punch or it could be all smoke and mirrors. I would be very careful about any long positions unless Greenspan has a change of heart after today and eats his words on national TV. If he rescues the "patient Fed image" from near death then the markets could also rise from the ashes. Just don't bet the family fortune without some serious confirmation. 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 --------------------------------- Prudential Financial Inc. - PRU - close: 42.96 change: -1.08 WHAT TO WATCH: Financial stocks have been under significant pressure over the past couple weeks and PRU joined the parade over the past couple days, breaking down hard on Tuesday and issuing a new PnF Sell signal. Entries look favorable on further weakness or on a failed rebound near the $44 level (also the site of the 100-dma). Target a drop first to $40 and then to the $38 tentative price target from the PnF chart. Note that earnings are set to be released on May 4th. --- Advanced Auto Parts - AAP - close: 42.22 change: +1.11 WHAT TO WATCH: Blasting off at the open this morning, it looked like AAP was set to make a major breakout. But with a lack of broad market followthrough, the stock fell back into its recent consolidation zone. Use a trigger of $43.25 for entries and target a rally to the $47-48 area ahead of the company's earnings report in mid-May. --- D R Horton Inc. - DHI - close: 30.21 change: -1.51 WHAT TO WATCH: Interest rate sensitive stocks have been getting clocked lately and Housing stocks are on the leading edge of that action. With the $DJUSHB breaking down, DHI looks to be in trouble, with investors selling into last week's earnings news. Use a trigger under $29.50 and target the 200-dma just over $26. --- Newmont Mining Corp. - NEM - close: 39.93 change: -2.50 WHAT TO WATCH: With more strength in the dollar on Tuesday, precious metals stocks got crushed and NEM itself broke down in a big way. The break under the $40 level generated a new PnF Sell signal with a target of $32. The best entries will come on a failed rebound below the major broken support at the 200-dma just under $42. With earnings set to be released next week, the best approach may be to look for a post-earnings bearish entry point. =================== On the RADAR Screen =================== SPLS $26.99 - After last month's breakdown, shares of SPLS have come roaring back up near resistance and it looks like a breakout move could be in the offing. Wait for the breakout over $28 before playing and then target a rally towards the $31-32 area ahead of the company's earnings report on May 18th. LNCR $33.64 - Although aggressive due to the fact the company reported strong earnings just yesterday, the strong breakout over more than 4 months of resistance looks strongly bullish, with a new PnF Buy signal. Conservative entries look good on a pullback to confirm the $32 level as new support, while more aggressive traders can chase the stock higher on a breakout over the 200- dma. TJX $25.35 - Rejected on its first attempt, TJX wasn't able to hold today's breakout over the $25.50 level. But the pattern still looks bullish as long as price doesn't break under the bottom of the past couple weeks' consolidation near $24.75. Use an entry trigger above $25.75 (just over today's intraday high) and target a rally to the $28 area. =============================== Market Sentiment =============================== Rate Fears Loom Again - J. Brown The stock market was effectively Greenspammed in the last hour of trading as investors ran for cover after Alan told the Senate that the deflation-monster was dead. Traders immediately translated his words to mean that inflation was the main threat and that the Federal Reserve would need to raise rates sooner rather than later to fight inflation. The damage was widespread with only the XAL airline index closing in the green. Housing stocks were pummeled and gold stocks plummeted. Market internals were very bearish. Declining stocks trounced advancing issues 3- to-1 on the NYSE and 22 to 9 on the NASDAQ. Down volume was almost five times up volume on the NYSE and the NASDAQ. Overall volume was a lot stronger than we've seen the last few sessions. Noted below you'll see the spike in volatility as investors rushed to buy puts and protect themselves and/or profit from the drop. Considering that the volatility indices are still near their lows we could see several days of declines before fear really sets in. Investors are completely ignoring the strong earnings data and choosing to focus on the interest rate issue, which seems overdone. A 1/4 point or 1/2 point rise in rates is not going to derail the economy so patient investors may just want to sit out for a couple of days as the market readjusts. Then we can hopefully gauge a new entry point for the rebound. Noteworthy earnings reports tomorrow morning are Dow components KO, SBC and UTX. Plus, we'll hear from CFC, EK, F, JPM and SIRI just to pick out a few of the dozens of companies reporting tomorrow. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 8235 Current : 10314 Moving Averages: (Simple) 10-dma: 10436 50-dma: 10441 200-dma: 9924 S&P 500 ($SPX) 52-week High: 1163 52-week Low : 879 Current : 1118 Moving Averages: (Simple) 10-dma: 1134 50-dma: 1133 200-dma: 1068 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1051 Current : 1436 Moving Averages: (Simple) 10-dma: 1472 50-dma: 1457 200-dma: 1402 ----------------------------------------------------------------- The sudden drop in the markets at the end of the day did send the volatility indices spiking as traders rush to buy puts and protect positions. These indices remain near their lows which suggest we could still see several days of weakness before investors truly feel fearful. CBOE Market Volatility Index (VIX) = 16.67 +1.25 CBOE Mkt Volatility old VIX (VXO) = 16.51 +1.28 Nasdaq Volatility Index (VXN) = 23.07 +1.67 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.81 833,531 677,967 Equity Only 0.69 699,494 482,043 OEX 1.03 20,975 21,701 QQQ 3.19 27,115 86,456 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 78.3 - 4 Bull Confirmed NASDAQ-100 54.0 + 0 Bear Correction Dow Indust. 90.0 + 0 Bear Correction S&P 500 75.8 + 0 Bear Confirmed S&P 100 79.0 + 0 Bull Correction 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: 1.55 10-dma: 1.48 21-dma: 1.24 55-dma: 1.24 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 676 897 Decliners 2163 2223 New Highs 62 83 New Lows 42 36 Up Volume 371M 318M Down Vol. 1572M 1542M Total Vol. 1950M 1883M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 04/12/04 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 We continue to see little change in commercial traders' positions. Small traders are adding to positions and remain bullish although there is a decent jump in new shorts. Commercials Long Short Net % Of OI 03/23/04 401,456 418,732 (17,273) (2.1%) 03/30/04 407,987 420,624 (12,673) (1.5%) 04/06/04 409,429 419,471 (10,042) (1.2%) 04/12/04 412,827 419,910 ( 7,083) (0.9%) 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 03/23/04 130,648 89,943 40,705 18.5% 03/30/04 130,112 81,937 48,175 22.7% 04/06/04 130,262 80,174 50,088 23.8% 04/12/04 135,840 89,090 46,750 20.8% 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 reduced the long positions and added to their shorts, which is bearish for the markets. Small traders remain net long and have increased their bullish positions significantly. Commercials Long Short Net % Of OI 03/23/04 268,647 294,930 (26,283) ( 4.7%) 03/30/04 265,492 305,797 (40,305) ( 7.1%) 04/06/04 270,904 328,862 (57,958) ( 9.7%) 04/12/04 261,889 341,163 (79,274) (13.1%) 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 03/23/04 131,879 59,210 72,669 38.0% 03/30/04 123,494 59,550 63,944 35.0% 04/06/04 148,737 46,235 102,502 52.6% 04/12/04 172,473 52,274 120,199 53.5% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Almost no change in commercial traders' positions here. The same can be said for small traders. Commercials Long Short Net % of OI 03/23/04 52,014 34,017 17,997 20.9% 03/30/04 52,749 67,967 (15,218) (12.6%) 04/06/04 54,862 34,762 20,100 22.4% 04/12/04 54,144 34,432 19,712 22.3% Most bearish reading of the year: (21,858) - 08/26/03 Most bullish reading of the year: 13,386 - 03/16/04 Small Traders Long Short Net % of OI 03/23/04 9,884 12,887 (3,003) (13.2%) 03/30/04 8,928 16,551 (7,623) (30.0%) 04/06/04 7,971 20,721 (12,750) (44.4%) 04/12/04 8,297 20,746 (12,449) (42.9%) 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 Still no change in commercial traders' positions here either. It's an even race between longs and shorts. Small traders have actually grown more bearish. Commercials Long Short Net % of OI 03/23/04 23,048 22,119 929 2.1% 03/30/04 23,642 22,180 1,462 3.2% 04/06/04 23,101 22,108 993 2.2% 04/12/04 23,501 22,748 753 1.6% 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 03/23/04 8,344 6,734 1,610 10.7% 03/30/04 7,020 6,711 309 2.3% 04/06/04 7,316 8,085 (769) (5.0%) 04/12/04 6,136 7,450 (1,314) (9.7%) Most bearish reading of the year: (12,106) - 3/09/04 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 04-20-2004 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: HE, KENT, SYK 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 ------------- HE charges up a 2-for-1 stock split Hawaiian Electric Industries (NYSE:HE) announced earnings this morning and followed up with a split announcement this afternoon. Its Board of Directors has approved a 2-for-1 stock split in the form of a 100% stock dividend in addition to their normal quarterly cash dividend. The 2:1 split will be payable on June 10th, 2004 to shareholders on record as of May 10th. The cash dividend of 62 cents is payable on a pre-split basis on June 10th to shareholders on record as of May 10th. About the company: HEI and its subsidiaries are a critical part of Hawaii's economy. HEI supplies power to over 400,000 customers or 93% of the Hawaii market through its electric utilities and a wide array of banking and other financial services to consumers and businesses through the state's third largest bank. (source: company press release) --- KENT deals up a 2-for-1 stock split This morning just before the opening bell Kent Financial Services, Inc. (NASDAQ:KENT) announced that it would split its stock 2-for- 1. The payable date is May 3rd, 2004 to shareholders on record as of April 30th. About the company: Kent Financial Services is a holding company for its subsidiary T.R.Winston & Company Inc, a securities broker-dealer. (source: company press release) --- SYK declares 2-for-1 stock split Just before the closing bell on Tuesday, Stryker Corp (NYSE: SYK) announced that its Board of Directors had approved a 2-for-1 stock split of its common shares. The split is payable on or about May 14th, 2004 to shareholders on record as of May 3rd. About the company: Stryker Corporation is a leader in the worldwide orthopaedic market and is one of the world's largest medical device companies. Stryker delivers results through a wide range of capabilities including joint replacements, trauma, spine and micro implant systems, orthobiologics, powered surgical instruments, surgical navigation systems and endoscopic products as well as patient handling and emergency medical equipment. Stryker also provides outpatient physical therapy services in the United States. (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 GM General Motors Corp 48.00 +1.85 AZO AutoZone Inc 86.44 +3.81 MTG MGIC Investments 71.11 +0.94 SUN Sunoco Inc 63.63 +0.84 DBD Diebold Inc 49.97 +2.78 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- TPX Tempur-pedic Intl 15.95 +1.19 PXLW Pixelworks Inc 18.57 +1.67 AVL Aviall Inc 17.12 +1.49 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- BAX Baxter Intl 32.76 +1.04 BCR C.R.Bard 99.96 +1.16 STN Station Casinos Inc 48.70 +1.43 LNCR Lincare Holdings 33.64 +2.77 CNF CNF Transportation 36.87 +1.27 TNL Technitrol Inc 22.02 +2.02 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- FRX Forest Labs 69.96 -1.61 PLD Prologis 29.70 -1.35 RNR RenaissanceRe Holdings 52.94 -2.25 OSI Outback Steakhouse 45.85 -2.33 SEIC SEI Investments 29.08 -1.17 ICOS ICOS Corp 33.20 -1.30 RYL The Ryland Group 73.66 -2.79 TASR Taser Intl 84.39 -34.31 NFI Novastar Financial Inc 31.88 -7.13 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- BDK Black & Decker 58.76 -1.44 ALGN Align Tech Inc 20.77 -2.03 BP BP Plc 52.72 -1.21 MTCT MTC Technologies Inc 25.09 -0.79 ================================================================= 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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