PremierInvestor.net Newsletter Tuesday 05-11-2004 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: Nervous Bargain Hunters Watch List: Requisite Bounce Market Sentiment: Quick Fix ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 05-11-2004 High Low Volume Adv/Dcl DJIA 10019.47 + 29.50 10038.35 9974.05 1.87 bln 2648/ 683 NASDAQ 1931.35 + 35.30 1931.48 1909.50 1.72 bln 2234/ 960 S&P 100 536.00 + 3.32 536.17 532.68 Totals 4882/3643 S&P 500 1095.45 + 8.33 1095.69 1087.12 W5000 10648.22 + 99.30 10650.29 10549.07 SOX 470.15 + 11.30 470.25 458.90 RUS 2000 548.67 + 10.81 548.69 537.86 DJ TRANS 2836.17 + 26.20 2843.33 2810.81 VIX 18.57 - 1.20 19.28 17.94 VXO (VIX-O)18.49 - 1.25 19.14 18.13 VXN 27.75 - 0.16 27.90 26.84 Total Volume 3,944M Total UpVol 3,260M Total DnVol 634M Total Adv 5421 Total Dcl 1982 52wk Highs 32 52wk Lows 452 TRIN 1.07 NAZTRIN 0.48 PUT/CALL 1.11 ================================================================= =========== Market Wrap =========== Nervous Bargain Hunters by Jim Brown Buyers returned at the open on Tuesday but they were unable to force any material gains in the Dow. Tech stocks and the small caps saw the strongest buying but it was very cautious. Resistance levels from Friday held on the big caps but the SOX soared +2% led mostly by Intel. Dow Chart - Daily Nasdaq Chart - Daily After several seriously negative days in the markets traders rested from their selling and waited to see if anybody was going to buy the dip. Some bargain hunters did stick their toe in the water but the sharks were still circling and none ventured a dive into the waves. Resistance held and buyers were content to close the day in the green and chalked it up as a win. Economics were mixed with Retail Sales and Manufacturing slowing but employment indicators rising. Retail Sales fell to a gain of only +0.3% for the week as higher gasoline prices continued to pressure consumers. This number included the Mothers Day week and indicates the lack of a real buying surge for the holiday. The Job Opening and Labor Turnover Survey for March jumped +10.9% compared to only +4.3% in February. This is a stale report since the April employment report already told us there was a jump in hiring. It did confirm from a separate source that +441,000 workers were hired in March. This is a different survey base than the Employment Report but both reached the same conclusion. This bodes well for the coming months. A slight bump in the economic road appeared in the Richmond Fed Manufacturing Survey, which fell to 13 from 30 in April. This is a significant drop and a four-month low. It also represents the first drop since November in manufacturing activity. New Orders fell to 17 from 28 and Shipments to 13 from 30. Order backlog also fell as well as the six-month outlook. Anything over zero is considered an expansion of manufacturing activity but a drop of this magnitude is not a good sign. Inflation rose slightly with prices paid rising faster than prices received. This report suggests profits will be squeezed and hiring will be weak in the area. This could be somewhat market positive because it suggests the Fed was right in delaying a rate hike because economic growth is still stumbling along. Also leaning on the markets was the price of oil rising over $40 per barrel. OPEC was said to be considering a new target price for oil above the current $22-$28 level. This was not good news for the market as consumers watched gas prices rise well over $2 in some areas. In news after the bell Cisco announced earnings that beat the street by a penny and announced guidance that was not met with excitement. The company said revenues could rise only +3% to +5% for the quarter. They also said earnings were helped more than they expected from an extra week in the first quarter. (strike one) They also benefited from buying back $3 billion in stock over the quarter which reduced their outstanding shares by 131 million and increased the earnings per share. This is an IBM trick from years past. (strike two) Cisco also said inventory levels rose +20% from the prior quarter and in excess of their targets while their book to bill remained "about one" according to Chambers. (strike three) The stock dropped in after hours on the "moderate" outlook from Chambers. He reinforced the idea that they would see growth equal to GDP growth in the markets they served. Investors were not excited with this limited view after seeing many other techs reporting +15% to 25% growth prospects despite being cautious. Cisco's problem is one of scale. Once you become so large it is tough to continue to grow at the rate of the small cap competitors. This is just one more reason why Option Investor never recommends holding options over earnings announcements. It was actually a decent report but the market did not like it. Bonds actually gained some ground despite $24 billion in supply coming to market today in 3yr notes from the quarterly refunding. Wednesday and Thursday will see another $30 billion in 5yr and 10yr notes. The bid to cover ratio for the 3yr notes was 2.08, slightly below the 2.27 from February but well above last years 1.80 average. The 3yr notes are seen to be the preferred issue this week and they went at 3.199%. Some of the money raised from stock sales over the last couple days could have ended up in the bond market where safe returns over the next couple years are assured. Traders were happy to see the decent bid numbers because short interest is at an all time high in anticipation of the Fed beginning a rate hike program that some think will end up like 1994. The markets rallied at the open but the Dow never got very far away from the flat line. Only a buy program at the close kept the Dow above 10000 for the day. Resistance remains 10025 from Monday afternoon. With the 200dma at 10005 we are fighting a real technical battle for control. There was no real urge to buy stocks today but the bargain hunters were able to keep the Dow from disaster. The Nasdaq was the strongest index of the big four with a gain of +35 (+1.86%) but the Nasdaq gain was on the strength in the SOX and the Russell. The SOX gained +11 (+2.45%) led by Intel to near the 470 level. The SOX has moved up for seven days since hitting a low at 435 the first trading day in May. The Russell gained +11 (+2%) to bump back into range of the 550 level. The Russell washed out on Monday to 534 intraday and managed to post an impressive rebound back over its 200dma at 544 today. It was definitely a 200dma day with the major indexes either crossing or closing very close to that technical level. The Nasdaq closed at the high of the day just below 1931 but there is very strong resistance between 1930-1965. The one-day rebound, however strong, should not be seen as the beginning of a trend. SOX Chart - Daily Russell Chart - Daily The futures took a serious hit after the Cisco earnings but there is a lot of darkness before morning. Anything is still possible. They recovered most of their losses when the Nikkei reversed a week long trend with a +150 point gain early in the session. The challenge is finding a catalyst to produce any further rally. Despite the rebounds today we are still very oversold according to some and still over valued according to others. We have seen money flowing out of funds and there are serious geopolitical events unfolding. There is no reason to aggressively buy stocks. That does not mean the bargain hunters will not supply a steady bid for the stocks they want. As long as there is no reason to sell it is entirely possible we could remain in a range over Dow 10K while these events unfold. It is just not likely. Internally today was an exact opposite of Monday. Volume was moderate and about a billion shares less than yesterday but advancing beat declining volume by 5:1. New 52-week lows at 452 were less than of half yesterday's level at 1181. Monday was the most negative internals since Oct-2002 and the new 52-week highs were the lowest since July-2002 at only 32. That was the same number we had today. While internals were better they were far from good. Today could be seen as a holiday for sellers more than a return of the buyers. The key point for me is simply support held. Make no mistake this is strong support at these levels. It should have held on the first test and it did. Whether we rebound from here or not the odds are good that this support will be tested again. Considering the strength of the multiple 200dma averages and the various interactions of the various indexes it could be tested several times before it either holds or breaks for the final time. One thing for sure a break of these levels could produce a significant downward move while any rebound could face quite a challenge for a considerable period of time, maybe until after the election. The current drop could be the election premium being priced into the market as I have discussed before. Pollster John Zogby predicted today that Kerry would win the election. According to his website Kerry is ahead 47% to 44% in a two man race. According to Zogby there are very few voters still undecided and those usually break in favor of the challenger. Kerry is ahead on economic issues 54% to 35% and 57% to 36% on Iraq. Bush is still way ahead on terrorism at 64% to 30% but the Iraq problem is increasingly negative for Bush. According to Zogby, the election is now Kerry's to lose. This administration change uncertainty is very damaging to the stock market as each candidate is reaching the point where they will say and do anything to win votes. Nothing is sacred and administration policies 12 months from now are anybody's guess. For many institutions this is the time for caution in their investments. For many with big profits still on the table from the 2003 bull market it may be time to exit stocks and find safety in bonds at the current levels. Earning a safe 3%-4% for the next 12-18 months may be starting to look appealing. For traders the biggest economic reports left this week are the PPI and CPI on Thursday and Friday. This may provide a better clue to the current inflation rate. Lately there have been many analyses of the CPI making the rounds which show how the government "adjusts" the numbers to produce "real" inflation. This suggests we will not find any inflation this week and I doubt the reports will really influence the market. There may be a lot of volatility as they are announced but like the election numbers most traders already have their minds made up. They are just waiting for a signal to make their next move. SPX Chart - Weekly I think the next move for us is still to sell the rallies. Overhead resistance is very strong on the Dow at 10200 to 10300 and I do not foresee a breakout. Resistance on the Nasdaq is still 1930-1965 and despite the strength in the SOX I would be surprised to see higher Nasdaq numbers. SPX 1078 (200dma) is the strongest major support of all the indexes since most technical trading programs key in one way or another off the SPX. A break under 1078 could quickly test the 38% retracement level of the March 2000 high to the Oct-2002 low at 1067. The 50% retracement level at 1160 held for two months and prevented an upside breakout. I am not as confident about 1067 being support but it should at least be a speed bump if tested. Until the trend changes be very careful about buying the dip. 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 --------------------------------- Requisite Bounce Tractor Supply Company - TSCO - close: 36.43 change: +1.86 WHAT TO WATCH: After building a broad topping formation for the past several months, TSCO broke down hard last Friday, finally taking out the 200-dma as support and then following through with yesterday's drop almost to the $33 level. Today's rebound is setting up a great bearish entry point on a rollover near the $38 level. Note that the PnF chart is now on a Sell signal with a downside target of $31. --- International Paper. - IP - close: 39.22 change: +0.55 WHAT TO WATCH: After last week's breakdown below $40 support, IP fell all the way to $38 yesterday before beginning a solid rebound. This isn't a call to entertain bullish ideas though, as the stock is on a PnF Sell signal with a target of $35. Look for the current rebound to roll over in the $40-41 area as the setup for new bearish entries. Then look for the decline to continue down towards that $35 target. Use a tight stop at $42, which is just over the 50-dma. --- Pulte Homes Inc. - PHM - close: 46.19 change: +0.59 WHAT TO WATCH: After the selloff of the past couple weeks, PHM is trying to rebound along with the rest of the Housing sector. But instead of buying the dips, the appropriate strategy has now changed to selling the rebounds. Look for the stock to run into strong resistance near the $48 level, with the 100-dma just overhead. Then look for a decline down towards the 200-dma, currently near $43.50. --- Apache Corp. - APA - close: 40.86 change: +1.12 WHAT TO WATCH: After getting hammered lower on thoughts of improved supply conditions in the Oil patch yesterday, APA put in a strong rebound today from its year-long rising trendline near $40. This looks like a good point for aggressive bullish entries, targeting a quick rise back to the $43-44 resistance level. Use a tight stop at $39 though, as a trade at that level would be a new PnF Sell signal. =================== On the RADAR Screen =================== ORCL $11.63 - Is the rebound finally getting started? We've looked at ORCL as a potential rebound play from the $11 level on a couple of occasions recently, so this listing is rather redundant. But if the rebound is getting started, this may be our last chance to get on board. A mild dip back below $11.50 can be used for entry, while the more conservative approach will now be on a breakout over $11.75. Target a rally to the 200-dma, just over $12.50 OHB $15.27 - Housing stocks across the board are looking weak and we've listed OHB here as it is less well known. The stock broke down in a big way in late April, then again late last week and appears headed for strong support near $10. Either a failed rebound below $18 or a breakdown under $15 can be used for entry. One note of caution about volume -- the stock has a very low ADV, so bear that in mind when considering it as a play. SMTC $23.21 - Bullish plays are definitely counter-trend right now, but the Semiconductors seem to be leading this rebound. SMTC put in a convincing double bottom near $20.50 and is seeing strong buying volume on this bounce. Use an entry trigger at $23.50 (just over the 100-dma) and target a rally back to strong resistance near $26. Watch for potential resistance near the $25 level. =============================== Market Sentiment =============================== Quick Fix Jonathan Levinson Sentiment and breadth were awful at Monday's close, but the oversold bounce in the indices today helped to repair the damage to the markets' internals. OEX volatility, the VXO, was lower by 6.33% or 1.25 to close at 18.49. Similarly, the VIX fell 6.07%, though the VXN and QQV were only fractionally lower. Note that the QQQ and Nasdaq were considerably stronger than the Dow and S&P, and yet volatility fell much further for the Dow/S&P options than for those that were Nasdaq/QQQ related. This divergence is worth watching, as it suggests that the options markets were far more fearful than the price advance suggests. I believe that fear of CSCO's earnings report released after the closing bell contributed to that effect. New highs minus new lows rose strongly for both the NYSE and the Nasdaq, while the put to call ratio remained very high at 1.28. The NYSE, Nasdaq and Amex advancers minus decliners also rose sharply within their daily downtrends, again correcting part of yesterday's damage. Economic news due tomorrow inclues the Balance of trade, estimated at -$43B, Export prices excluding agriculture and import prices excluding oil for April and the April Treasury Budget, estimated at $15.5B. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 8416 Current : 10016 Moving Averages: (Simple) 10-dma: 10215 50-dma: 10337 200-dma: 10009 S&P 500 ($SPX) 52-week High: 1163 52-week Low : 912 Current : 1095 Moving Averages: (Simple) 10-dma: 1109 50-dma: 1124 200-dma: 1077 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1103 Current : 1421 Moving Averages: (Simple) 10-dma: 1419 50-dma: 1442 200-dma: 1414 ----------------------------------------------------------------- CBOE Market Volatility Index (VIX) = 18.57 -1.20 CBOE Mkt Volatility old VIX (VXO) = 18.55 -1.19 Nasdaq Volatility Index (VXN) = 27.75 -0.16 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 1.11 799,195 885,934 Equity Only 0.92 603,030 556,511 OEX 0.54 55,501 29,810 QQQ 5.90 44,221 260,900 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 64.0 - 5 Bear Confirmed NASDAQ-100 33.0 - 7 Bear Confirmed Dow Indust. 70.0 - 7 Bear Confirmed S&P 500 59.8 - 6 Bear Confirmed S&P 100 64.0 - 3 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: 0.90 10-dma: 1.09 21-dma: 0.96 55-dma: 1.13 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 2282 2209 Decliners 614 889 New Highs 19 38 New Lows 263 60 Up Volume 1422M 1406M Down Vol. 384M 199M Total Vol. 1836M 1614M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 05/04/04 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 reduced their longs and increased shorts slightly, while small traders added to longs and covered shorts. Commercials Long Short Net % Of OI 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%) 05/04/04 397,964 417,175 (19,211) (2.4%) 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 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% 05/04/04 137,112 80,201 56,911 21.6% 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 added to longs and maintained their shorts, while small traders significantly reduced their long positions and added to shorts. Commercials Long Short Net % Of OI 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%) 05/04/04 316,840 370,781 (53,941) ( 7.8%) 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 04/12/04 172,473 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% 05/04/04 119,308 74,407 44,901 23.2% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Commercial traders increased their long positions and short positions, but the net addition to longs was sufficient to set a new high bullish reading of the year for the second week in a row. Small Traders added slightly to longs and more heavily to shorts, setting a new most bearish reading of the year - Commercials Long Short Net % of OI 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% 05/04/04 56,931 35,209 21,722 23.6% Most bearish reading of the year: (21,858) - 08/26/03 Most bullish reading of the year: 21,722 - 05/04/04 Small Traders Long Short Net % of OI 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%) 05/04/04 10,247 24,764 (14,517) (41.5%) Most bearish reading of the year: (14,517) - 05/04/04 Most bullish reading of the year: 19,088 - 01/21/02 DOW JONES INDUSTRIAL Commercial traders added slightly to longs and maintained their short positions, while small traders added slightly to longs and covered shorts. Commercials Long Short Net % of OI 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% 05/04/04 24,296 22,181 2,115 4.6% 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 04/12/04 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%) 05/04/04 6,262 8,155 (1,893) ( 9.2%) 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 05-11-2004 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: MOGN, PCBC Trading Ideas: See Note ================================================================= Stop Loss Adjustments ================================================================= None ================================================================= Stock Splits ================================================================= Announcements ------------- MOGN bottles up a 2-for-1 stock split MGI Pharma Inc (NASDAQ:MOGN) announced mid session today that its Board of Directors had approved a 2-for-1 stock split of its common shares. The payable date is June 9th, 2004 to shareholders on record as of June 2nd. After the split there will be approximately 70.4 million shares outstanding. About the company: MGI PHARMA, INC. is an oncology-focused biopharmaceutical company that acquires, develops and commercializes proprietary products that address the unmet needs of cancer patients. MGI PHARMA has a portfolio of proprietary pharmaceuticals, and intends to become a leader in oncology. MGI PHARMA markets Aloxi(TM) (palonosetron hydrochloride) injection, SalagenŽ Tablets (pilocarpine hydrochloride) and HexalenŽ (altretamine) capsules in the United States. The Company directly markets its products in the U.S. and collaborates with partners in international markets. For more information about MGI PHARMA, please visit www.mgipharma.com. --- Pacific Capital sets 4-for-3 stock split Pacific Capital Bancorp (NASDAQ:PCBC) announced an hour before the opening bell this morning that its Board of Directors had approved a 4- for-3 stock split. The payable date is June 8th, 2004 to shareholders on record as of May 25th. On a post split basis, PCBC will have approximately 45 million shares, thus increasing the total shares outstanding by 33 percent. About the company: Pacific Capital Bancorp is the parent company of Pacific Capital Bank, N.A., a nationally chartered bank that operates 45 branches under the brand names of Santa Barbara Bank & Trust, First National Bank of Central California, South Valley National Bank, San Benito Bank, and Pacific Capital Bank. ================== Trading Ideas ================== Due to technical difficulties, there will be no Trading Ideas for this evening. Check the site tomorrow for the next edition. ================================================================= 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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