PremierInvestor.net Newsletter Tuesday 04-27-2004 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: New Excuse Watch List: TDW, CCMP, BJS, SON Market Sentiment: More of the same ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 04-27-2004 High Low Volume Adv/Dcl DJIA 10478.16 + 33.40 10537.35 10441.75 1.84 bln 1765/1454 NASDAQ 2032.53 - 4.20 2053.57 2027.64 1.96 bln 1572/1603 S&P 100 555.62 + 1.00 559.91 554.62 Totals 3337/3057 S&P 500 1138.15 + 2.62 1146.84 1135.53 W5000 11129.34 + 19.60 11211.76 11109.70 SOX 468.33 - 6.40 479.48 466.76 RUS 2000 590.76 + 1.31 594.98 587.24 DJ TRANS 2973.28 + 3.10 3001.46 2964.34 VIX 15.07 + 0.30 15.17 14.37 VXO (VIX-O)14.98 + 0.04 15.36 14.24 VXN 21.84 + 0.01 22.32 21.59 Total Volume 4,077M Total UpVol 1,675M Total DnVol 2,344M Total Adv 3769 Total Dcl 3497 52wk Highs 299 52wk Lows 276 TRIN 1.07 NAZTRIN 2.08 PUT/CALL 0.72 ================================================================= =========== Market Wrap =========== New Excuse by Jim Brown The market sold off at 2:PM and the excuse given was either fighting in Iraq or explosions in Syria. Far as I know there has been fighting in Iraq for quite some time. Syria arrested three terrorists near the Iranian embassy but it does not sound like a market moving event. The Dow had risen to strong resistance at 10530 just before the sell off. Do you think there was any chance it was just profit taking? Odds are very good. Dow Chart - Daily Nasdaq Chart - Daily SOX Chart - Daily The markets rallied at the open but it was not due to strong Retail Sales because they were far from strong. Sales dipped last week by -0.5% from the +1.0% gain the week before. The reason given by retailers is the long lull between Easter and Mothers Day (May-9th). They expect shopping to improve again next week. The real excitement came from a stronger than expected Consumer Confidence report and a very strong housing report. Consumer Confidence jumped to 92.9 from 88.5 and well over estimates of 89. After two months of decline the unexpected jump went a long way to confirm the recent indications of a growing economy. Positive consumers spend more money and this helped provide positive sentiment for stocks. There were strong gains across all but one component. Both present conditions and future expectations posted big jumps. Unfortunately those planning to buy homes fell to 3.5% from 4.2% but auto buyers jumped to 6.4% from 5.4%. Consumers who felt jobs were now plentiful rose to the highest level since Sept-2002. Those that felt jobs were hard to get fell to the lowest level since Nov-2002. Also surging higher were Existing Home Sales, which rose at the fastest rate in more than two years. Sales jumped +5.7% to 6.48 million and the second highest rate ever. This is really good news and suggests consumers were expressing their confidence by purchasing a new home. This jump turned around a -5.8% slide in January and meager +2.2% gain in February. I have predicted before that home sales would pick up once the weather improved and this is proof. The only disturbing news is the drop in those planning to buy a home in the near future in the Consumer Confidence report. That could turn around as well as home builders begin their strong summer sales push and heighten consumer awareness of available features. Despite the jump in rates they are still very low on a historical basis. Helping the bounce in the home builders was positive comments from Pulte Homes. (PHM) They are one of the largest builders in the country and they also build outside the U.S. The CEO said they controlled 290,000 lots and were growing at 3-4 times the growth rate of the industry. He also said the Fed could raise interest rates by 300-400 basis points without materially impacting their business. They build across all price ranges in multiple geographic areas. They are estimating earnings of $7.25 for the year and the stock is just over $50. While this is a stock specific story we are seeing the same pattern from almost all the homebuilders and the projections just keep getting better. This positive attitude and results from those in the sector should continue to boost investor prospects for a continued economic recovery. Home sales are a very big component to overall economic health. However, not all sectors are seeing this kind of growth. We began seeing some downgrades today on the prospect of tougher comparisons ahead. As we move into the earnings from smaller companies we are seeing some earnings misses and/or some soft forecasts. This translates into lowered earnings estimates for future quarters. This is actually beneficial to some extent because it lowers the bar and makes it easier to beat. Unfortunately it also lowers the price targets as we begin the PE compression phase. The semiconductor sector is already seeing this PE compression as the SOX dropped below critical support at 470 today. The bloom is off the rose in semis and that led the Nasdaq to a weaker performance for the day. The Nasdaq has spent three days trying to break through the 2050 level and today's close was a three-day low. The Nasdaq is at a critical turning point. In early April it rose to strong resistance at 2070 with three intraday spikes briefly higher over a six day period. We saw the mid April pullback to below 2000 and then a strong dead cat bounce last Thursday. That bounce culminated on Friday morning at 2050 and that resistance level has held for three days. The Nasdaq must rebound from the brink tomorrow or be faced with the potential for another trip under 2000. The NDX has been fighting the same battle with resistance at 1500 all month and the best it could manage before dropping back this week was 1499.45. This is very strong resistance for the NDX and by association the Nasdaq Compx. The Dow has been fighting the same battle at 10550 since early April and we watched it creep back to 10537 today before a quick sell off. The sell off was blamed on shooting in Syria and/or fighting in Iraq but if you look closely at the A/D line for the last two days I think you will lose that excuse quickly. On Monday at exactly 2:PM the A/D line dropped -1300 issues. On Tuesday at exactly 2:PM the drop was -1500 issues. Recently mutual funds have been entering/exiting the market when? 2:PM. With the indexes right at strong resistance and near highs for the month this is a very good spot for funds to take profits. This is not an indication that there is a specific down trend ahead but simply a good place to shift cash ahead of some very critical economic reports and a Fed meeting over the next eight days. It is simply prudent money management. A/D Chart - 15 min There is not enough data yet to determine if we are looking a bullish May or a bearish May. Earnings are still flowing and most analysts are still bullish. As long as investors are still sending in retirement contributions we are likely to continue to trade in this range. I suggested on Sunday to sell the tops and buy the bottoms and today was very close to the top of the range. Until we breakout of the range that advice remains the same. The challenge for the next several days will be the impending Fed meeting on Tuesday and the impact of the economic reports on their decision. Wednesday is still calm but Thursday starts the heavy reporting cycle with GDP for Q1, Employment Cost Index and Help Wanted. Friday picks up the pace with Personal Income, NY-NAPM, Consumer Sentiment and PMI. Monday has the ISM so traders will likely want to square positions before Friday's close to avoid not only weekend event risk but economic event risk as well. With the Fed meeting on Tuesday and rising fear they could actually hike rates there may not be many buyers after tomorrow. Most institutions will want to see what decision the Fed makes before making a commitment. Even if you thought there was no chance the Fed would hike rates and that those economic reports would be strong would you want to invest millions of dollars near the current market highs without knowing for sure? Probably not. That pretty well sums up our forecast. Odds of big bets are slim and volume has already started to dry up. Volume on the NYSE and Nasdaq totaled only 3.5B shares today and it should continue to decline. Keep your eyes open for some new excuses for market movement and watch that 2:PM time slot for clues to market direction. Watch the SOX as a leading indicator for the Nasdaq. We are still range bound and until the trend changes watch the top of the range (10550/2050) for weakness. 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 --------------------------------- Tidewater Inc. - TDW - close: 29.78 change: +1.18 WHAT TO WATCH: TDW was looking like a nice long candidate prior to last week's earnings and after the report the stock shot right up to resistance at the 200-dma. That resistance was soundly broken today and the rally is underway. A pullback near $29 would be a gift of an entry point, so any brief pullback should be pounced on. More conservative traders will want to wait for a breakout over the 100-dma before playing. Target a rally up to strong resistance near $33. --- Cabot Microelectronics Corp. - CCMP - close: 32..01 change: -0.17 WHAT TO WATCH: Semiconductor stocks have been notably weak lately and they don't come much weaker than CCMP, which plunged after its recent earnings report and has been tagging new 52-week lows on a daily basis. The stock is WAY overdue for a bounce, but a failed rebound below $35 looks like a gift of an entry. Aggressive traders can short a breakdown below today's low in anticipation of the stock continuing to drill lower. Target a drop to the $26-27 area. --- BJ Services Company - BJS - close: 47.20 change: +2.18 WHAT TO WATCH: Yesterday we suggested keeping an eye on shares of BJS for a post-earnings breakout and that's exactly what happened, with the stock gaining nearly 5% today. With a clean high-volume breakout, this one looks good for upside continuation. An ideal entry would come on a pullback to test broken resistance near $45-46, with a logical target being psychological resistance at $50. --- Sonoco Products - SON - close: 25.81 change: +0.56 WHAT TO WATCH: Earnings provided just the catalyst to drive SON through near-term resistance at $25 and the stock shot up following the news. After a brief dip to test that broken resistance as new support, it looks like the stock is ready to run. Use a trigger at $26 and look for the rally to continue up towards strong resistance at $30. --- =================== On the RADAR Screen =================== TYC $29.08 - While the stock hasn't made much progress lately, TYC is still trading in its ascending channel that started early last year. Now isn't the time to enter due to earnings which are due to be released on May 5th. Look for a post earnings dip and rebound near the bottom of the rising channel ($28) and then hold for a rally to the top of the channel near $32. XOM $43.75 - While lacking in the wild price action of some of its contemporaries, there's no arguing with the bullish trend in shares of XOM. The stock looks ready to breakout and a move through $44 looks like a good bullish trigger. Look for an initial move to $46, with potential for a rally up to test the all-time highs just south of $48. SBUX $39.27 - After more than 2 months of consolidating in a sideways channel, shares of SBUX look ready to resume their upward climb. Earnings are past and last week's upgrade from Lehman ought to add a bit of bullish fuel. Use a trigger at $40 and look for a rally towards the $44-45 area. =============================== Market Sentiment =============================== More of the same - J. Brown Tuesday proved to be somewhat interesting. Futures were relatively weak before the open but when the bell rang stocks shot higher. There were a couple of economic reports out and both were stronger than expected. The Conference Board's consumer confidence index soared to 92.9, which was above estimates for a small rise to 88.7. The survey polled some 5,000 households and found that Americans are growing more optimistic about the future and about finding a job. The second report was the existing home sales numbers. Like the new home sales numbers out yesterday these were above expectations. Home sales are hot and with the prime home buying season in front of us (a.k.a. summer) it could be a good quarter for homebuilders, realtors and mortgage lenders even with a rate hike. The broader impact is that consumers tend to buy more products like furniture and appliances when they move into a home and that's a big positive for the economy. What is odd is that the new home sales numbers yesterday sent the markets lower on rate fears yet today's number failed to cause much of a reaction. That's not to say the markets didn't turn lower. The major indices were near their highs for the session before turning sharply lower in the afternoon. Apparently this was due to a new offensive by coalition forces in Iraq. The cease-fire with insurgents in Fallujah ended today. This evening the military dropped leaflets saying it's time to give up, this is your last chance to surrender, we're coming in and a little bit later the air strikes began. At the same time there was new violence in the Syrian capital near several western embassies, which many believed was a terrorist reaction to the Syrian government's help with the global war on terrorism. The stock markets' reaction was to interpret the military's move in Iraq as a potential spark for new violence around the globe and possibly here at home. Thus the natural reaction was to sell stocks and take profits - at least that's one train of thought. The selling really wasn't that bad with techs and gold lagging the bluechips. Closer to home and probably more important on investors' minds is the upcoming Fed meeting on May 4th and the string of economic reports between now and the end of next week. We appear stuck in a trading range to manage your risk carefully! ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 8305 Current : 10478 Moving Averages: (Simple) 10-dma: 10415 50-dma: 10420 200-dma: 9956 S&P 500 ($SPX) 52-week High: 1163 52-week Low : 898 Current : 1138 Moving Averages: (Simple) 10-dma: 1132 50-dma: 1132 200-dma: 1071 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1084 Current : 1479 Moving Averages: (Simple) 10-dma: 1468 50-dma: 1455 200-dma: 1407 ----------------------------------------------------------------- There was little change in the volatility indices. They remain near their multi-year lows. CBOE Market Volatility Index (VIX) = 14.07 +0.30 CBOE Mkt Volatility old VIX (VXO) = 14.98 +0.04 Nasdaq Volatility Index (VXN) = 21.84 +0.01 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.72 876,032 627,839 Equity Only 0.57 772,474 441,571 OEX 0.97 15,910 15,403 QQQ 3.25 11,842 38,450 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 77.6 + 0 Bull Confirmed NASDAQ-100 56.0 - 1 Bear Correction Dow Indust. 83.3 + 0 Bear Confirmed S&P 500 74.8 - 1 Bear Confirmed S&P 100 74.0 - 2 Bear 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: 2.41 10-dma: 1.98 21-dma: 1.47 55-dma: 1.37 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 1624 1538 Decliners 1216 1570 New Highs 94 85 New Lows 79 26 Up Volume 910M 607M Down Vol. 920M 1297M Total Vol. 1854M 1927M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 04/20/04 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 Commercials still not willing to place in big one-sided bets. The remain net short. Small traders upped their bearish positions by a couple of thousand contracts. Commercials Long Short Net % Of OI 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%) 04/20/04 409,729 421,456 (11,727) (1.4%) 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 03/30/04 130,112 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% 04/20/04 136,699 92,982 43,717 19.0% 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 remain heavily net short the e-minis and small traders, who typically do the opposite, are right on track with heavy long positions. Commercials Long Short Net % Of OI 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%) 04/20/04 275,985 355,555 (79,570) (10.1%) 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 03/30/04 123,494 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% 04/20/04 186,799 69,137 117,662 46.0% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Very little movement in the NDX futures for commercial traders. The same can be said for small traders. Commercials Long Short Net % of OI 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% 04/20/04 54,852 35,964 18,888 20.8% 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 03/30/04 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%) 04/20/04 8,538 19,431 (10,893) (39.0%) 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 Hmm... we're seeing a little bit of money getting shuffled around here. Commercials are slightly more bullish this week. Small traders, as expected, have turned more bearish. Commercials Long Short Net % of OI 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% 04/20/04 24,156 22,009 2,147 4.7% Most bearish reading of the year: (8,322) - 1/16/01 Most bullish reading of the year: 15,135 - 10/16/01 Small Traders Long Short Net % of OI 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%) 04/20/04 5,997 9,631 (3,634) (23.3%) 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 04-27-2004 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: FNLC, TOUS 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 ------------- FNLC announces a 3-for-1 split Lunchtime on Tuesday afternoon First National Lincoln Corp. (NASDAQ:FNLC) announced that shareholders had approved an increase in the number of authorized shares from 6 million to 18 million at the company's annual meeting. Immediately thereafter the company announced 3-for-1 stock split. The Board of Directors approved the split, which will take place as a 200% stock dividend. The payable date will be June 1st, 2004 to shareholders on record as of May 12th. The number of outstanding shares will jump from 2.4 million to 7.3 million. FNLC's last split was December 1997. About the company: First National Lincoln Corporation, headquartered in Damariscotta, Maine, is the holding company for The First National Bank of Damariscotta and Pemaquid Advisors. The First is an independent community bank serving Mid-Coast Maine with seven offices in Lincoln and Knox Counties that provide consumer and commercial banking products and services. Pemaquid Advisors provides investment advisory and trust services from offices in Damariscotta, Boothbay Harbor and Portland, Maine. (source: company press release) --- TOUS announces a 3-for-2 split Immediately following the closing bell Technical Olympic USA, Inc. (NASDAQ:TOUS) announced that its Board of Directors had approved a 3-for-2 stock split of its common stock. The split will take place as a 50% stock dividend. This dividend is payable on May 31st, 2004 to shareholders on record as of May 14th. Fractional shares will be paid in cash. About the company: Technical Olympic USA, Inc. ("TOUSA") is a leading homebuilder in the United States, operating in 14 metropolitan markets located in four major geographic regions: Florida, the Mid-Atlantic, Texas, and the West. TOUSA designs, builds, and markets high-quality detached single-family residences, town homes, and condominiums to a diverse group of homebuyers, such as "first- time" homebuyers, "move-up" homebuyers, homebuyers who are relocating to a new city or state, buyers of second or vacation homes, active-adult homebuyers, and homebuyers with grown children who want a smaller home ("empty-nesters"). It also provides financial services to its homebuyers and to others through its subsidiaries, Preferred Home Mortgage Company and Universal Land Title, Inc. (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 BP BP Plc 53.70 +0.78 WFC Wells Fargo & Co 57.09 +0.70 CVX ChevronTexaco 92.89 +0.64 XOM ExxonMobil 43.75 +0.74 MRK Merck & Co 47.25 +0.61 ECA Encana Corp 42.75 +0.70 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- GNTA Genta Inc 16.35 +1.97 PXR Paxar Corp 17.40 +1.39 ISPH Inspire Pharmaceuticals 16.56 +2.57 WHQ W-H Energy Services 17.27 +1.71 CVNS Covansys Corp 14.95 +2.81 DPTR Delta Petroleum 12.61 +1.11 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- EBAY Ebay Inc 83.95 +2.37 DHR Danaher Corp 95.50 +1.93 TXU TXU Corp 34.77 +1.24 RIG Transocean Inc 29.12 +1.61 PHM Pulte Homes Inc 52.11 +3.08 BJS BJ Services 47.20 +2.18 SII Smith Intl Inc 57.75 +2.61 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- VAR Varian Medical 84.22 -3.65 BG Bunge Ltd 36.56 -1.94 R Ryder Systems 37.47 -1.87 RMBS Rambus Inc 21.11 -2.93 PIR Pier 1 Imports 20.45 -2.30 ANPI Angiotech Pharmaceutical 21.17 -1.18 NTE Nam Tai Electronics 21.93 -1.46 OTL Octel Corp 26.30 -3.68 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- PDCO Patterson Dental 75.17 -1.83 GYI Getty Images Inc 55.17 -1.93 MICC Millicom Intl 24.20 -2.00 AMED Amedisys Inc 26.94 -3.13 ================================================================= 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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