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Daily Newsletter, Wednesday, 05/05/2004

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PremierInvestor.net Newsletter                Wednesday 05-05-2004
                                                    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:  The Word-of-the-Day
Watch List:   Quiet Consolidation

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


===============================================================
MARKET WRAP  (view in courier font for table alignment)
===============================================================
     05-05-2004            High     Low     Volume Advance/Decline
DJIA    10310.95 -  6.25 10348.35 10291.08 1.82 bln   1416/1393
NASDAQ   1957.26 +  6.78  1967.33  1948.51 1.56 bln   1649/1401
S&P 100   547.19 +  0.04   549.28   546.11   Totals   3065/2794
S&P 500  1121.53 +  1.98  1125.07  1117.86
RUS 2000  570.06 +  0.42   573.28   568.92
DJ TRANS 2923.01 +  7.38  2933.20  2897.65
VIX        15.77 -  0.78    16.55    15.64
VXO        16.23 -  0.13    17.16    16.06
VXN        24.34 -  0.80    25.41    24.17
Total Volume 3,746M
Total UpVol  2,083M
Total DnVol  1,582M
52wk Highs     132
52wk Lows      214
TRIN          0.83
PUT/CALL      0.89
===============================================================

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

The Word-of-the-Day
Linda Piazza

Caution and defensive posturing appeared to direct trading
behavior Wednesday. Some recently beaten-down sectors such as the
SOX gained, and one recently gaining sector, the oil services
sector, fell.  That decline occurred after the Banc of America
downgraded the sector.  The SOX added 0.88 percent, and the OSX,
the Philadelphia Oil Service Index, declined 1.77 percent.  While
the Nasdaq, the SPX, and Russell 2000 managed positive closes,
the gains proved modest at 0.35percent, 0.18 percent and 0.07
percent, respectively, while the Dow lost an equally cautious
0.06 percent.  On the NYSE, advancers and decliners matched
almost exactly, with only 5 more issues advancing than declining,
while the Nasdaq displayed slightly better breadth, with the
advancing/declining ratio at 17/14.  Volume proved tepid at 1.4
billion for the NYSE-traded issues and 1.6 billion for the
Nasdaq-traded ones.

Numerous factors produced the caution.  One analyst noted the
positioning of many stocks or indices within consolidation
patterns.  Another noted that 59 percent of stocks trade above
their 200-dma's, a neutral rating.  Besides these technical
considerations, caution continued ahead of Thursday's decisions
by the Bank of England and the ECB, any proclamations that might
come out of China later in the week, and Friday's U.S. jobs
numbers.

Also, many Asian bourses remained closed Wednesday, so traders
had to gauge global sentiment without the help of the Chinese and
Japanese markets in overnight trading.  China remained silent
this week after last week's measures meant to cool its
overheating economy.  Some market watchers had postulated that
last week's order (or suggestion, according to the Chinese
government) to banks to cease lending activities until May 1
signaled their intention to raise rates over the May holidays
this week.  That prompted a sell-off in global bourses last week,
but so far, news sources have not carried any information about
rate hikes.

Miners, plunging after China's measures appeared especially
intended to dampen the commodities industries, began rebounding
this week.  In overnight trading, Australian miner Rio Tinto
Group, billed as the third largest miner in the world, also eased
concerns by commenting that China's demand for iron ore remained
strong, with that comment reassuring some markets.  BHP Billiton,
billed as the largest mining company in the world, closed the day
2 percent higher.  Still, trading in the mining stocks remained
cautious ahead of this week's rate decision by the Bank of
England and the ECB.  The daily chart of the XAU illustrates the
effect on the gold and silver miners.

Annotated Chart of XAU:



European markets began the day trading cautiously, with banks
headed down in the U.K. and up in the eurozone.  After the
release of the eurozone services industry index number, showing a
modest rise to 54.5 in April from March's 54.4, European stocks
began bouncing off their flat-line levels and climbing guardedly
higher.  Increased export demand balanced languishing consumer
demand on that eurozone number.

About the time that European bourses began those tepid gains, our
futures began gaining, too, but the pre-market action of the
futures could best be described as cautious or choppy.
"Cautious" was the correct description for the market open, too,
with the Russell 2000, Dow, Nasdaq, and SPX all opening near the
flat-line levels.  Those technicians who watch the first five
minutes of trading for market guidance had narrow ranges upon
which to base their calculations for the day's action.

Banks garnered much of the attention in the UK, Europe and the
U.S.  In the UK, a unit of the Royal Bank of Scotland's purchase
of Charter Financial sent banking stocks lower.  In the eurozone,
German banks gained after Dresdner Bank reported its first net
profit after five quarters of losses.  Other eurozone banks
gained, too, with Credit Suisse saying that it remained
optimistic about this year.

Germany's Schroeder reportedly urged that German banks should
consolidate soon.  The FTSE 100, CAC 40, and DAX all closed
higher, with the FTSE gaining 0.49 percent; the CAC 40, 0.77
percent; and the DAX, 0.79 percent.  The DAX recovered the 4000
level again, closing at 4022.10.

In the U.S., Charter Financial surged, jumping from a close
Tuesday at $35.95 to an open at $44.00.  The stock closed at
$43.86, up 22 percent. Although I don't believe that either the
BIX or the BKX includes CF as a component, both banking-related
indexes posted gains in early trading.  Here caution and
defensive posturing soon asserted itself, also, as these indices
traded in a narrow range.

Annotated Chart of the BIX:



Perhaps that caution toward banking stocks could be partially
attributed to the Mortgage Bankers Association's release of the
composite index of mortgage loan applications.  For the week
ended April 30, mortgage loans rose a healthy 4.4 percent, with
purchase and refinance indices rising 4.1 and 4.7 percent,
respectively.  Adjustable-rate mortgages fell, however, and the
refinance proportion of the mortgage activity stayed steady.  A
look at stocks that might be impacted by a slowdown in
refinancing showed stocks such as Sears (S), Whirlpool (WHR),
Lowe's (LOW), and HomeDepot (HD) displaying mixed trading
patterns, so that it was difficult to make any judgments about
the reception of the Mortgage Bankers Association's numbers.
Those stocks tended to show either small-range days or else
small-bodied candles with long shadows or wicks, perhaps
confirming the indecision, but that conclusion may be a bit of a
stretch.

At 10:00 EST, the Institute for Supply Management released its
index of U.S. services industries, showing April's number rising
to 68.4 from March's 65.8.  Estimates for this number had ranged
from 60-69 according to one report and a narrower 63-65 according
to another.  One market strategist commented that the ISM number,
while increasing, demonstrated a loss in momentum.  The ISM
attributed the rise to increased consumer spending due to job
gains and tax refunds, and corporate investments that led to
increased demand in the services sector.  The prices-paid
component rose to 68.6 percent from the previous 65.7 percent,
while the new orders and employment components rose more
modestly.

With our economy deemed a services-based economy, the markets
spent a few minutes digesting the number and the various
components and then began climbing.  Market watchers soon
tempered their enthusiasm.  Indices quickly settled into
symmetrical triangles on their five-minute charts, suggesting
that the breakouts would not come until later.  The indices began
breaking through the bottom support of those triangles about
midday, with the Dow one of the first to break through that
support and the S&P 500 one of the last.

However, caution can attach itself to selling behavior as well as
to buying behavior, and the indices didn't retreat far.  They
soon rose to test those broken supporting trendlines.  The SPX
was the first to retest that trendline, too, and the only one
among the Dow, Russell 2000, Nasdaq, and SPX to do so, showing
that it was performing strongly relative to the others.  The
Russell never closely approached that former supporting trendline
on the five-minute chart, and, by the end of the day, even the
SPX had produced a possible intraday, unconfirmed H&S just below
that trendline.  Other market watchers differed in the relative
ratings of the indices, labeling the Nasdaq as the strongest-
performing index and attributing that behavior to Banc of
America's upgrade of Dell to a buy rating from its former neutral
rating.  Dell closed higher by 1.13 percent.

Earnings reports produced mixed results, contributing to the
hesitation and uncertainty, with CVS gaining 1.35 percent after
its Q1 report showed the company beating estimates by three
cents.  Big gainers included Cypress Semiconductor (CY), gaining
5.83 percent after raising forecasts for Q2 earnings but not
revenue; IMPAX Laboratories (IPXL), soaring 17.61 percent after
reporting its first-ever quarterly profit; Mace Security (MACE),
gaining a whopping 80.48 percent after reporting a 300 percent
gain in revenue from one unit; Hong Kong's telecom firm
PacificNet (PACT), heading up 29.74 percent after raising its Q2
outlook and approving a stock buy-back plan; and RF Monolithics
(RFMI), climbing 7.62 percent after the manufacturer of radio
frequency components raised its Q3 outlook.  Other gainers in the
news included Coke (KO), gaining 1.63 percent after naming E.
Neville Isdell its new chairman and CEO.

Brokerage and insurance services firm Prudential Financial (PRU)
headed down 1.75 percent after reporting 74 cents per share,
beating estimates by a penny, but other stocks fell harder.
Decliners balanced the advancers, with optical- components
manufacturer Bookham Technology (BKHM) plummeting 33.11 percent
after reporting a Q1 loss; Gric Communications (GRIC), a mobile
and remote worker software-maker, diving 44.51 percent after
reporting a Q1 loss and saying it likely would not make a profit
all year, thereby collecting a downgrade from Needham & Co.;
Ligand Pharmaceuticals (LGND), dropping 15.51 percent after
reporting a bigger-than-expected Q1 loss, although that loss was
narrower than the year-ago period; online travel services company
Orbitz (ORBZ), dropping 7.33 percent after lowering expectations
for Q2 revenue; and perhaps of particular interest to those
watching the homebuilders, Palm Harbor Homes (PHHM), falling
12.27 percent after announcing a plan to reduce debt and raise
money for general corporate purposes by selling convertible
notes.

Without guidance from Asian markets in overnight trading, with
remaining uncertainty about the timing of U.S. rate hikes and
rate hike decisions due in Europe and the U.K., with big
advancers competing with big decliners, and, most important of
all, with uncertainty over the jobs number due this Friday,
perhaps it was foreseeable that markets would display
uncertainty.  That indecision proves evident from a study of the
index charts.

The Russell 2000 trades within a formation that some deem
bearish, but it hasn't yet broken to either the upside or the
downside.

Annotated Chart for the Russell 2000:



The Nasdaq remains mired in a large triangular formation.

Annotated Daily Chart for the Nasdaq:



The SPX sports its own triangle.  Although these triangular
formations are generally considered continuation patterns, and so
suggest that the breakout will likely come to the upside, it's
possible to look at the SPX pattern from another and less
neutral-to-bullish perspective, adding to the confusion.

Annotated Chart for the SPX:



The Dow's chart displays the same indecision as seen on other
index charts.

Annotated Chart for the Dow:



Caution ruled the trading pattern on Wednesday and indecision
colors these charts.  As painful as it might be for active
traders to wait for markets to break out of these consolidation
patterns, I don't believe we'll know which direction the markets
are headed until they do so.  I also caution that trading can
become more volatile and less conducive to technical analysis as
the triangles narrow toward their apexes.  When will those
breakouts occur?  Not until a catalyst occurs.

Wednesday afternoon through Thursday morning, retailers report
their same-store sales figures.  Among retailers reporting
Wednesday afternoon, Men's Wearhouse (MW) reported April same-
store sales up 10.4 percent, American Eagle (AEOS) reported sales
up 8.3 percent, Hot Topic (HOTT) SSS rose 0.7 percent, and West
Marine (WMAR) SSS rose 7.6 percent.  Somehow it seems unlikely
that same- store sales would provide the catalyst that would
finally break indices out of their months-long consolidation
patterns, however.  More likely catalysts would include some of
the possibilities mentioned earlier:  a surprise decision
Thursday morning by the ECB, a pronouncement out of China, or a
new development in the Nikkei, opening for the first time in
three days.  Even those seem unlikely catalysts as the global
economic community awaits those U.S. jobs numbers on Friday.
That's the more likely catalyst.

A small possibility exists that tomorrow's U.S. economic numbers
could produce movement in the U.S. markets, but caution and
indecision may keep market participants from reacting to these
reports.  Economic reports for tomorrow include the Q1
Productivity number to be released before the market opens, with
estimates ranging from a 3.0-4.0% rise after last quarter's 2.6%
rise.   Although with inflationary worries rising, some attention
will be paid to unit labor cost index component, the GDP's
Employment Cost Index last week already broke the bad news that
costs were increasing faster than expected.  Most do not consider
Thursday's number market moving because the GDP gives an advance
look at this component.  In addition, initial claims will be
released ahead of the market open, with at least one forecast at
344,000, a drop from the previous 346,500.  Since this number can
be volatile, market watchers will probably give more weight to
the non-farm payrolls to be released Friday.

While "caution" was the word-of-the-day for Wednesday's trading,
perhaps "patience" should be Thursday's.  Those consolidation
patterns near their breakout points, but by the nature of those
patterns, we must remain patient until they do.


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

Quiet Consolidation

Brown Shoe Company - BWS - close: 39.55 change: +2.30

WHAT TO WATCH: After trading in a broad consolidation range for
the past few months, shares of BWS got a big boost this morning
from a Merrill Lynch upgrade.  That sent the stock soaring to the
top of its recent range, and it looks like a breakout could be
arriving shortly.  Use a trigger at $40, just over the recent
highs and target a rally towards the $45 level ahead of the
company's earnings announcement on May 19th.




---

Enzon Pharmaceuticals Inc. - ENZN - close: 14.16 change: -0.81

WHAT TO WATCH: Since dropping back from its failed rally near the
$18 level in early March, shares of ENZN have been repeatedly
testing what has become key support at $14 and the tests are
becoming more frequent.  The company released earnings tonight
after the close and investor reaction in the morning could
unleash the next directional move.  Clearly this is a higher risk
play, as the action could be volatile.  Look for a break below
$14 as a trigger and then target a drop towards strong support at
$12.  Keep an eye on price action near the 200-dma though, as it
could provide near-term support.




---

Nextel Partners Inc. - NXTP - close: 25.11 change: +0.37

WHAT TO WATCH: After running out of steam in early January, NXTP
fell back into a healthy consolidation in the $12-14 area,
tracing out a clear H&S bottom formation in the process.  The
stock broke above the neckline ($14) of that pattern today on
very strong volume and this looks like a solid rally in progress.
A slight pullback to test the neckline would be preferable for
new entries, but a breakout over $15.25 (the site of the January
highs) should work too.  Target a rally to next strong resistance
near $17.




---

International Paper - IP - close: 39.91 change: -0.42

WHAT TO WATCH: The steady deterioration in shares of IP looks
poised to take a turn for the worse, with the stock once again
dipping below the $40 level today.  Should support near that
level give way, the stock will likely head down to test strong
support near $36.50.  Use an entry trigger at $39.50, just below
today's intraday low.





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

ORCL $11.40 - Do you feel lucky?  ORCL has recently been driven
down to key support near $11 with the weakness in the overall
market.  So, is this a buyable double bottom?  We think so,
although this is a risky play, as we're attempting to pick a
bottom in a recently weak stock.  Entries look good near current
levels, but use a tight stop just under $11.  Target a rally back
to the vicinity of the 200-dma.

SBUX $39.82 - Is SBUX finally ready to break out?  The stock has
been consolidating near its highs for over a month and it looks
like the bulls are finally ready to make another run to the
upside.  Use a trigger over $40 and target a rally towards the
$45 level.  Keep in mind that SBUX is normally a slow-moving
stock, so be prepared to exercise a good deal of patience.


==================
  Trading Ideas
==================

This section contains stocks that meet criteria which may make
them of interest to long and short side traders.  These are not
recommendations, nor have they been reviewed by PremierInvestor
editors for investment potential.  However, each of them has
technical and fundamental characteristics that make them worthy
of further review by traders and investors looking for fresh ideas.
New stocks will appear daily following the market close.

Value Plays With Bullish Signals
---------------------------------
Ticker  Company Name               Close     Change

TOT     Total Sa (ADS)             97.05    +1.60
SC      Shell Transport & Trading  44.10    +0.87
RD      Royal Dutch Petrol         50.95    +1.05
GSK     Glaxosmithkline Plc (ADR)  43.50    +0.78
E       Eni Spa (ADS)             106.15    +2.05


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

VSH     Vishay Intertechnology     19.18    +1.19


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

UBS     UBS Ag Ord. Shares         74.53    +1.39
COP     Conocophillips             75.21    +1.30
HIG     Hartford Fncl Srvcs Grp    64.35    +2.74
MTB     M&T Bank Corp              88.48    +2.00


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

DOV     Dover Corp                 39.05    -1.11
SII     Smith Internat Inc         53.05    -2.34
PTEN    Patterson-UTO Energy Inc   34.25    -1.64
DDR     Developers Diversified     32.36    -1.01


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

None

=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************


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





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

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

In section two:

Stop Loss Adjustments:  None

Active Trader (Non-tech Stocks)
  Closed Bullish Plays: BJS
High Risk/Reward
  New Bullish plays:    VRSN


Stock Splits
  Announcements:       FELE


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

None


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

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

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

BJ Services - BJS - close: 44.15 change: -0.41 stop: 42.50

The continued rise in the price of Crude Oil wasn't enough to
save our BJS play.  Instead of rising, the stock fell back from
its recent breakout attempt, consolidated for a few days near the
$44 level, while finding support along the 20-dma.  It looked
like the stock was going to cooperate and head higher from that
support test until the open this morning when the stock plunged
sharply lower on a BofA downgrade.  The stock dropped to $42.35
before beginning a strong oversold rebound.  Unfortunately, it
was too late for us, as the opening drop triggered our stop.
Traders that didn't exit the play on the touch of the $42.50
level should look at this rebound as a gift and use the current
strength to exit the play.

Picked on April 28th at     $46.04
Change since picked          -1.91
Earnings Date              4/27/04 (confirmed)
Average Daily Volume =    2.01 mln




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

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


  New Bullish Plays
  -----------------

Verisign Inc. - VRSN - close: 17.40 change: +0.54 stop: 15.90

Company Description:
VeriSign is the leading provider of Internet trust services and
digital certificate solutions needed by Web sites, enterprises
and individuals in order to conduct secure electronic commerce
and communications over IP networks.  VRSN has used its secure
online infrastructure to issue over 100,000 of its Website
digital certificates and over 3.5 million of its digital
certificates for individuals.  The company also offers the
VeriSign Onsite service, which allows an organization to leverage
the company's trusted service infrastructure to develop and
deploy customized digital certificate services for use by an
organization's employees, customers and business partners.  To
date, over 300 enterprises have subscribed to the OnSite service
and VRSN has strategic relationships with industry leaders
including Cisco, Microsoft ,RSA, Security Dynamics, and VISA.

Why we like it:
After topping out near the $21 level in early January, VRSN began
a long downward slide that brought the stock all the way down to
strong support near $15 by the end of March.  Since then the
stock has been consolidating in an every tightening wedge
formation and it looks like a breakout is just around the corner.
Turning to the PnF chart, we can see that the initial bounce from
$15 and subsequent higher bounces have been successful tests of
the bullish support line, which currently rests at $15.50.  There
is a descending trendline connecting the highs over the past
month and that line currently rests at $17.50 and the strong
rebound so far this week suggests a bullish resolution to this
consolidation pattern.  A breakout over $17.62 will break the
near-term trend of lower highs and a push through the early April
high ($17.83) will strengthen that bullish move.

But the real key will be whether the stock can break out over
$18, creating a new PnF Buy signal, which will bring with it a
tentative bullish price target of $23.50.  We want to make the
stock prove its strength before playing, so we're going to use an
entry trigger at $18.  Entries on the initial breakout look
favorable, but it appears likely that we'll get at least one more
pullback to test broken resistance near $17.50 and that would set
up a more attractive entry point.  Once through resistance, we'll
look for the stock to make a run back towards strong resistance
at $20.  Note that there is likely to be some mild resistance at
the $19 level, so expect at least a minor pullback on the first
test of that level.  Initial stops should be placed at $15.90,
just under the 200-dma, as well as the rising trendline that
forms the bottom of the consolidation pattern.

Annotated Chart of VRSN:



Picked on May 5th at        $17.40
Change since picked          +0.00
Earnings Date              4/22/04 (confirmed)
Average Daily Volume =    2.31 mln



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

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

FELE electrifies shares with a 2-for-1 split

Franklin Electric Co (NASDAQ:FELE) announced at lunchtime 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 15th, 2004 to shareholders on record as
of May 28th.  On a post split basis, FELE will have approximately
22 million shares of common stock outstanding.

About the company:
Franklin Electric, a technical leader in electric motors, drives
and controls, is the world's largest manufacturer of submersible
water and fueling systems motors, a manufacturer of underground
fueling systems hardware and flexible piping systems and a leader
in engineered industrial motor products.


=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************

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






DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

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