Option Investor
Newsletter

Daily Newsletter, Tuesday, 05/04/2004

HAVING TROUBLE PRINTING?
Printer friendly version
PremierInvestor.net Newsletter                  Tuesday 05-04-2004
                                                    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:      Fed Raising Rates
Watch List:       MLNM, PLCM, MOT, INCY
Market Sentiment: Listening to the Fed

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
      05-04-2004           High     Low     Volume   Adv/Dcl
DJIA    10371.20 +  3.20 10386.04 10266.17 2.01 bln 1869/1377
NASDAQ   1950.48 + 11.80  1968.70  1933.60 1.87 bln 1855/1266
S&P 100   547.15 +  1.30   551.03   543.59   Totals 3724/2643
S&P 500  1119.51 +  2.02  1127.65  1112.89
W5000    Problem with data feed
SOX       448.31 +  7.40   454.76   440.87
RUS 2000  569.64 +  4.16   575.18   565.18
DJ TRANS 2915.63 -  7.50  2935.02  2902.28
VIX        16.55 -  0.07    17.13    15.97
VXO (VIX-O)16.36 -  0.27    17.52    15.88
VXN        25.14 -  0.58    25.89    24.36
Total Volume 4,245M
Total UpVol  2,767M
Total DnVol  1,362M
Total Adv  4247
Total Dcl  2978
52wk Highs  134
52wk Lows   224
TRIN       0.87
NAZTRIN    0.69
PUT/CALL   0.67
=================================================================

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

Fed Raising Rates
by Jim Brown

Using Fedspeak Greenspan said they were ready to raise
rates but they are not raising them now. The Fed left rates
unchanged but said they could begin raising rates at a
measured pace in the near future. The market was not sure
if they liked the new Fed policy stance despite getting
everything they wanted from the statement.

Dow Chart - Daily


Nasdaq Chart - Daily




The morning started off great with Chain Store Sales jumping
to +1.5% for last week compared to -0.5% for the prior week.
No real excitement there with tax refunds fueling the buying.
The real excitement came from the Factory Orders, which soared
+4.3% for March compared to +1.1% for Feb. That Feb number
was revised up from only +0.3%. Consensus for March was only
+2.3% and it was widely assumed to be optimistic. The blowout
at almost twice what was thought to be optimistic really gave
traders some positive economic ammo but they failed to hold
any morning gains. Nondurable goods rose +3.5% which completely
erased the -1.8% decline in February. Shipments rose +3.8%,
unfilled orders rose +1.2% but most important was nondefense
capital goods, that is normal business equipment, rose +4.5%.

The upward revision to a weak February and the blowout in
March suggests the economy may actually be exploding. While
traders were excited with the initial release their fears
that the strong numbers would excite the Fed weighed on the
bulls. The morning bounce to 10330 on the news was sold into
the pre Fed lull. Worry, worry everywhere and not a buy
program in sight.

Helping fan the economic flames was a very minor +6.1% jump
in layoffs from 68K to 72K in April according to the Challenger
Layoff report. Better news showed that the private sector was
firming and the government sector was responsible for the
majority of the cuts. The number of layoffs has been moving
steadily down for months with only a couple spikes in Oct and
Jan. Challenger also found that small business hiring actually
grew +25% in the first quarter. Companies of less than 500
employees are doing the most hiring.

The big news was of course the Fed announcement that they
were not going to raise rates today BUT they are ready to
raise rates at a pace that is likely to be measured. (Their
words) They cleaned up their policy statement to remove any
hint of economic weakness and any reluctance to act on their
part. The dumped the comments that either "inflation" or
"unwelcome disinflation" were likely and adopted a "risks
are equally balanced" posture. This was a key point they
tried to make. No inflation. The mentioned inflation in one
form or another several times. "Long term inflation expectations
appear to have remained well contained." "Price stability is
in balance." "Inflation low and resource use slack." All of
these comments were made to tell us that the Fed is not
worried and not in a rush to raise rates. When they do begin
to raise rates it will be at a "measured pace" meaning they
are not going to try and shock the market or make any large
sudden moves. It was a picture of a Fed trying to be patient
in an election year without actually saying so. In Fedspeak
it is all "read between the lines".

They have left us with an economy that is "robustly growing
productivity", "output expanding at a solid rate" and "hiring
appears to have picked up", all their words. They like what
they see and see no reason to raise rates despite the lowest
rates in decades. The markets rallied to new highs for the
week on the news then crashed back to pre Fed announcement
levels. The Dow ended up +3 and the Nasdaq +11. What in
earth happened?

Fear of the unknown. The Fed left the cloud over the market
and left traders guessing about when the rate hikes would
begin. There was actually a strong contingent of traders
hoping for a hike today. Traders in the Chicago pits and
on the floor of the NYSE booed when the announcement was
made. Amazing when you think about it. The Fed statement
gave everyone a present, strong economy, no inflation and
no rate hikes on the horizon. If the market was afraid of
rate hikes last week then today should have been a breath
of fresh air. Unfortunately it did not give them any view
of the future other than the Fed is ready to act if needed.
That can happen as soon as next Monday or six months from
now. It is like riding down the highway with a bubble on
your tire. You know it could pop at any time and you are
afraid to go very fast. That is the market today. We have
a Fed cloud over our car and lightning could strike at any
time.

The outlook shifted to events in the future that could
cause the Fed to react. The immediate threat is the Jobs
report on Friday. The Fed has been known to react between
meetings on the Monday after an employment report. If the
Layoff report is any clue then the Jobs report this Friday
could be decent. The +25% growth in small business hiring
as indicated by Challenger is the key. Last months report
showed an increase of +308,000 jobs and a similar report
this month would just about guarantee a rate move in June
if not before. Should the jobs from last month be revised
down significantly it could put the Fed on hold that much
longer. It is a very confusing scenario for institutions
and for bond traders. When confusion reigns nothing happens.
That is exactly what we saw today.

The Dow had been uptrending slightly from last weeks severe
depression. The post Fed spike sent the Dow to near 10400
once again but that level was very short lived and we fell
to close back near 10300. The slight uptrend is still intact
but just barely. Resistance is still 10325 and it has held
for three days. Support is 10265 and it has held for two
days. Odds are good we are going to break one of those
levels on Wednesday.

The Nasdaq is exhibiting the same very slight uptick although
it was the strongest index today. We saw a spike to 1970 after
the announcement, a solid retrace of those gains but a stubborn
hold at 1950 at the close. After three days of concentrated
selling last week the Nasdaq is refusing to give ground.
Current support has turned into 1933 and that is also the
200dma as we discussed last weekend. It is right on the edge
of a real rebound or a real failure. The buyers appeared at
the right level but so far have not been able to get enough
traction to move it higher.

This brings us to the rest of the week. Just like we went
into hold mode for the announcement today we could just as
easily maintain this mode into the Jobs report on Friday.
The Fed stance put the bulls back into bad news mode where
they want any economic news to be just good enough to prove
there is an economic pulse and not strong enough to require
a Fed sedative. Instead of wanting another +300K of new
jobs on Friday the bulls would be perfectly happy with a
number less than consensus, say in the +150K range. Too
much good news now could activate the Fed either at or
before the June 29th meeting. The goal for traders now will
be to somehow get through the June-29th meeting with no hike
and that gives them a potential free pass into August. This
makes everything that happens between now and the June FOMC
meeting of greater than normal importance.

Personally I think the markets received a free pass until
Fall as long as the jobs do not continue at the +300K
pace. The Fed is clearly watching for inflation but not
currently concerned due to the weakness of the recovery
until now. The Fed does not want to crash the housing
market before summer and they realize that the stock market
also contributes to overall good will and economic prosperity.
With everything running so smoothly AND with the bond market
already pricing in a rate hike, the Fed only needs to keep
up the tough talk and the credit markets will keep rates
at a reasonable level. This will allow the carry traders
plenty of time to unwind their trades and the home builders
to produce a record summer. The economy will benefit from
both and in an election year that can't be bad. Besides, if
a little economic slowdown appears over the summer the Fed
will not be making it worse. Now, all I need to do is make
the market see it my way.

For Wednesday I would look to be long over 10330/1960 and
short under 10275/1940 and simply follow what the market
gives us. The funds could begin to reenter the market
tomorrow but remember we are still in a down trend. Until
the pattern of lower highs is broken we are just range bound
at a lower level with risk to the downside. Earnings are
still decent but declining in quality and frequency and the
summer doldrums are just ahead. There is no real catalyst to
send us higher but there is no specific risk either. The Fed
should already be priced into the market. We are likely to
see some volatility at the open as the various forces do
battle so don't look for direction until after 10:00.

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
---------------------------------

Millennium Pharmaceuticals - MLNM - close: 14.88 change: -0.33

WHAT TO WATCH: After holding in a bullish trend for more than a
year, shares of MLNM are breaking down in a big way.  The drop
through the 200-dma unleashed a wave of selling volume and the
stock is now sitting on critical support.  A break below the
$14.50 level could usher in a fresh wave of selling and send the
stock down to test next strong support in the vicinity of $11.50.




---

Polycom Inc. - PLCM - close: 19.84 change: +0.90

WHAT TO WATCH: Traders that have been playing the range in shares
of PLCM look like they're going to get another chance.  The stock
dipped just below $19 this morning and then put on a strong rally
to kick the daily oscillators back into ascent mode.  Entries in
the vicinity of the 200-dma look viable, with an upside target of
$21, near the site of the clustered moving averages.  A rally up
to the $23 level (the top of the recent range) is certainly
possible, but we don't want to be greedy.




---

Motorola Inc. - MOT - close: 18.65 change: +0.43

WHAT TO WATCH: Following the euphoric reaction to its earnings
report last month, shares of MOT shot higher, nearly reaching the
$21 level before being pulled earthward by the negative market
action.  The stock now appears to be building a new base near
$18, which corresponds to old resistance, as well as the 50%
retracement of the post-earnings gap.  This looks like a great
entry point, looking for a renewed rally up into the $20-21 area.
Use a tight stop just under the 50-dma.




---

Incyte Corporation - INCY - close: 7.30 change: -0.45

WHAT TO WATCH: The bearish trend that INCY has been trading in
for the past few months looks ready to tip over in a more
determined manner.  The stock has fallen to last-ditch support
and looks ready to break down.  Use a trigger below today's $7.20
intraday low and target a drop towards the $6.00 level.  Watch
for potential support near the 200-dma at $6.60.




---


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

LU $3.44 - Certainly not for the faint of heart, LU may be
offering up a quick bullish play for those with the necessary
tolerance for risk.  The stock is trying to rebound just above
the 200-dma and if successful, a rally back towards the $3.90
resistance level seems reasonable.  Use a tight stop just under
yesterday's low.

CREE $19.49 - Is it time to play the rebound?  It wasn't that
long ago that we were looking at shares of CREE as a bearish
play, with a target of $18.  Well, that target was reached
yesterday and the stock put in a strong rebound today.  A slight
pullback near the 200-dma looks good for entries, targeting a
rally back to the site of the 50-dma over $21.

PMCS $12.82 - It wasn't that long ago that we were looking
bearish on shares of PMCS with a $12 target in mind.  Well, that
target has been reached and the stock is trying to put in a solid
rebound.  A pullback below $12.50 should afford solid entries
ahead of a continued rebound towards what is likely to be firm
resistance near $15.


===============================
Market Sentiment
===============================

Listening to the Fed
Jonathan Levinson

During the past several weeks, as bond yields have continued
their strong rally, we've seen a great deal of bearishness on
bonds and bullishness in the dollar.  Metals and commodity
prices, as well a equities corrected as traders anticipated the
abandonment by the Fed of its aggressive reflationary policy.
You'll recall statements by Bernanke and Greenspan along the way,
beginning to acknowedge what they referred to as a decrease in
the risk of unwelcome deflation and hinting at tighter monetary
policy.

As we've seen during recent years, central banks prefer to move
the markets with words instead of money, and today's action was a
fine example of just that.  Indeed, the ten year yield had
increased almost 100 basis points during the previous two months,
far exceeding anything that the Fed might have done to its
overnight rates today.

While this seems obvious in retrospect, the moves following
today's FOMC annoucement indicate some surprise, as equities,
metals, and bonds all whipsawed to the upside following the 2:15
statement and then levelled out again, giving back their gains.

Whether these trends continue or not remains to be seen.
However, I will continue to be dubious of any direct action by
the Fed to shock the markets with higher rates.  Simply put, the
level of personal, mortgage and corporate debt makes higher rates
a dangerous formation in the financial landscape, and were I a
central banker, I would be seeking as much as possible to allow a
gradual, unexciting move higher in rates without panicking the
markets with sudden moves.

I'm guessing we will see a range develop as traders seek
direction.  Equities, bonds, commodities and foreign currencies
should firm up as the dollar softens.  The drop in the volatility
indices following the announcement indicates general bullishness
increasing based on the prospect of further stimulation from the
Fed.


-----------------------------------------------------------------

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  8416
Current     : 10317

Moving Averages:
(Simple)

 10-dma: 10364
 50-dma: 10383
200-dma:  9985



S&P 500 ($SPX)

52-week High: 1163
52-week Low :  912
Current     : 1119

Moving Averages:
(Simple)

 10-dma: 1125
 50-dma: 1129
200-dma: 1074



Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1103
Current     : 1422

Moving Averages:
(Simple)

 10-dma: 1451
 50-dma: 1448
200-dma: 1410


-----------------------------------------------------------------

CBOE Market Volatility Index (VIX) = 16.55
CBOE Mkt Volatility old VIX  (VXO) = 16.36
Nasdaq Volatility Index (VXN)      = 25.14

-----------------------------------------------------------------

          Put/Call Ratio  Call Volume   Put Volume

Total          0.67        698,925       467,344
Equity Only    0.50        583,332       291,348
OEX            0.81         25,970        21,135
QQQ            0.38        167,368        64,122


-----------------------------------------------------------------

Bullish Percent Data

           Current   Change   Status
NYSE          73.3    + 0     Bull Confirmed
NASDAQ-100    42.0    - 1     Bear Confirmed
Dow Indust.   80.0    + 0     Bear Confirmed
S&P 500       69.0    - 1     Bear Confirmed
S&P 100       70.0    + 0     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: 1.36
10-dma: 1.30
21-dma: 1.09
55-dma: 1.14


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    1643      1822
Decliners    1178      1258

New Highs      55        51
New Lows       82        38

Up Volume   1276M     1211M
Down Vol.    694M      556M

Total Vol.  2005M     1829M
M = millions


-----------------------------------------------------------------

Commitments Of Traders Report: 04/27/04

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 aren't making any big moves and remain net bearish.
Small trades are relatively flat from last week as well and
remain net bullish.


Commercials   Long      Short      Net     % Of OI
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%)
04/27/04      406,927   416,244   ( 9,317)   (1.1%)

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
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%
04/27/04      133,775    90,535    43,240    19.3%

Most bearish reading of the year:  (1,657)- 5/27/03
Most bullish reading of the year: 114,510 - 3/26/02


E-MINI S&P 500

Commercial traders have upped their bets on both longs and
shorts but remain net bearish.  Small traders have decreased
the size of their long positions but are still strongly bullish.


Commercials   Long      Short      Net     % Of OI
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%)
04/27/04      291,365   370,549    (79,184)  (12.0%)

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
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%
04/27/04      175,788     69,613   106,175    43.3%

Most bearish reading of the year: (77,385)  - 09/02/03
Most bullish reading of the year: 449,310   - 06/10/03


NASDAQ-100

There is virtually zero movement in the positions for commercial
traders but luck would have it the little movement we did get
pushed them to a new bullish high.  Small traders are also
stuck in limbo.


Commercials   Long      Short      Net     % of OI
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%
04/27/04       54,196     33,948    20,248   23.0%

Most bearish reading of the year: (21,858)  - 08/26/03
Most bullish reading of the year:  20,248   - 04/27/04

Small Traders  Long     Short      Net     % of OI
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%)
04/27/04        9,008    20,347   (11,339)  (38.6%)

Most bearish reading of the year: (12,750) - 04/06/04
Most bullish reading of the year:  19,088  - 01/21/02

DOW JONES INDUSTRIAL

Commercial traders aren't changing their bets on the Dow either
and remain marginally net long.  Small traders remain net bearish
but they have reduced their short positions.


Commercials   Long      Short      Net     % of OI
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%
04/27/04       23,676    22,009    1,667       3.6%

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
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%)
04/27/04        5,998     8,868   (2,870)   (19.3%)

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 05-04-2004
                                                    section 2 of 2
Copyright (c) 2004, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================

Stop Adjustments: None
Closed Plays:     ALVR
Stock Splits:     GSBC

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


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

None


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

Alvarion Ltd. - ALVR - cls: 11.12 chng: +0.34 stop: 11.50

The past couple weeks have seen ALVR trade in a bearish manner,
just like we were expecting.  However, we certainly would have
preferred that the stock get moving at a higher rate of speed.
As it is, we have to exit the play just below our original entry
trigger without even reaching our first target at the 200-dma.
The bearish trend is still very much intact, but the company is
due to release its quarterly earnings report tomorrow morning and
we don't want the risk of holding over the announcement.  As
mentioned over the weekend, any open positions should have been
closed by the end of today's trading session.

Picked on April 18th at     $11.45
Change since picked          -0.33
Earnings Date              5/05/04 (confirmed)
Average Daily Volume =    1.25 mln



=================================================================
Stock Splits
=================================================================

Announcements
-------------

GSBC divvies out a 2-for-1 stock split
Great Southern Bancorp, Inc (NASDAQ:GSBC) announced mid-session
today that its Board of Directors had approved a 2-for-1 stock
split of its common stock in the form of a 50% stock dividend.

The payable date is June 1st, 2004 to shareholders on record as
of May 17th, 2004.  This is their third split since being listed
on the NASDAQ in 1990.

About the company:
Great Southern offers a broad range of banking, investment,
insurance and travel services to customers and clients.
Headquartered in Springfield, Missouri, Great Southern operates
29 branches and more than 140 ATMs throughout southwest and
central Missouri. The company also serves lending needs in
metropolitan Kansas City through its Kansas City-based loan
production branch and in the Northwest Arkansas region through
its loan production office in Rogers, Arkansas. The stock of
Great Southern Bancorp, Inc. is quoted on the NASDAQ National
Market System under the symbol "GSBC".


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

UBS     UBS Ag Ord. Shares         73.14    +1.72
PTR     Petrochina Co Ltd (ADS)    46.83    +2.40
HBC     HSBC Holdings Plc          73.85    +1.33
FTE     France Telecom (ADS)       24.73    +0.67


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

MVL     Marvel Enterprises         20.00    +1.21


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

SNP     China Petro & Chem (ADS)   37.70    +1.35
OMC     Omnicom Group Inc          82.78    +1.24
SNN     Smith & Nephew Plc (ADS)   53.65    +1.46
ADBE    Adobe Systems Inc          45.90    +1.90


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

IGT     Internat Game Technology   36.58    -1.86
GILD    Gilead Sciences Inc        58.35    -2.08
ABK     Ambac Financial Group      68.89    -1.18


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

WFMI    Whole Foods Market Inc     78.84    -0.66


=================================================================
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.





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.

To ensure you continue to receive email from Option Investor please add "support@optioninvestor.com"

Option Investor Inc
PO Box 630350
Littleton, CO 80163

E-Mail Format Newsletter Archives