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Daily Newsletter, Thursday, 05/13/2004

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PremierInvestor.net Newsletter                 Thursday 05-13-2004
                                                    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:      Inflation Returns
Market Sentiment: Breadth Improves
Watch List:       Sorting It Out


=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
      05-13-2004           High     Low     Volume   Adv/Dcl
DJIA    10010.74 - 34.40 10074.11  9970.93 1.69 bln 1481/1709
NASDAQ   1926.03 +  0.40  1937.87  1914.10 1.56 bln 1373/1709
S&P 100   536.23 -  0.94   539.39   533.91   Totals 2854/3418
S&P 500  1096.47 -  0.81  1102.77  1091.76
W5000   10650.61 -  7.20 10713.69 10607.62
SOX       459.57 -  2.30   464.75   455.08
RUS 2000  547.17 -  1.82   552.40   545.00
DJ TRANS 2859.79 + 12.50  2866.02  2838.00
VIX        18.86 +  0.72    18.92    17.97
VXO (VIX-O)19.39 +  0.90    19.78    18.41
VXN        28.11 +  0.49    28.33    27.37
Total Volume 3,597M
Total UpVol  1,642M
Total DnVol  1,916M
Total Adv  3187
Total Dcl  3853
52wk Highs   48
52wk Lows   275
NasTRIN    0.78
TRIN       1.02
PUT/CALL   1.01
=================================================================

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

Inflation Returns
by Jim Brown

Traders worst nightmares began to resurface today with a
higher than expected PPI report. The overnight gain in the
futures was erased in minutes and the markets opened under
a rate cloud once again. It is a picture of things to come
as the economy grows so do prices and the Fed can't be far
behind.

Dow Chart - Daily


Nasdaq Chart - daily


Russell-2000 Chart - Daily


SOX Chart - Daily



Jobless Claims jumped from 318K to 331K last week and only
slightly higher than consensus. No real news there other
than the 4-week moving average fell to 336K and the tenth
week under 350K. This is the lowest level since the economy
began to recover. The trend is continuing to decline and
that suggests job creation is still growing. As long as
claims remain under 350K per week we should continue to
add 175K of jobs per month based on historical norms.

Retail Sales for April fell -0.5%, well below consensus and
well below the +2.0% gain in March. The culprit is higher
gasoline prices and the undeclared energy tax that is ripping
cash out of consumer pockets. Auto sales are dropping with
a -1.8% fall for the month and shared the top of the loser
list with apparel at -2.0%. Building supply stores also
lost ground as rising mortgage rates slow home buying. This
was a material change from the +11% gain in March. Sure
sounds like trouble ahead. This was the first monthly decline
in the headline number since September and helped to fan the
flames of worry over the declining consumer. With the summer
doldrums ahead the retail outlook is not exciting with oil
prices continuing to rise.

Oil prices rose to close over $41 per barrel today, a new
13-year high and spot prices of unleaded gasoline were above
the level of the futures. This represents surging demand as
the summer driving season begins and suggests some really
high prices for the summer. Analysts claim a surge in
output by OPEC would not necessarily help demand because
all the oil tankers are chartered to full capacity and
there is nothing left to press into service to haul oil.

The big report today was the PPI, Producer Price Index, which
jumped +0.7% and more than twice consensus estimates at +0.3%.
Energy prices were the main culprit once again with the core
rate, minus food and energy, rising at only +0.2%. If you
do not eat or drive your inflation is only moderate. The
talking heads were trying to downplay the headline number
but a closer inspection shows the inflation rate of
intermediate materials rose +1.37% for the month. Even if
you take out food and energy that number rose +1.12%. This
is pure inflation and at a high rate. Crude materials rose
+3.0% and Foodstuffs rose +3.65%.

This immediately knocked the bloom off the pre-market futures
and the Dow opened down -75 points. Fear of a faster than
expected rate hike scenario sent the yields on the ten-year
note to 4.85% and a new two-year high. Mortgage rates knee
jerked to new recent highs and all eyes became even more
focused on the June-30 Fed meeting. This is going to be a
critical period on the market calendar. The Fed will raise
rates and Iraq will be turned over to Iraq rule on June-30th.
2Q earnings begin July 7th with YHOO and the Democratic
convention starts three weeks later. Everyone will be
handicapping the race as democrats grab the spotlight. The
Olympics should begin two weeks after the convention assuming
they finish the preparations and terrorists take a holiday.
It is going to be a tough news environment over the summer.

Fear of these news events probably had a lot to do with the
lack of any follow through from yesterday's rebound. There
may also have been some fear of Dell's earnings tonight but
Dell did come through and hit their estimates of 28 cents.
There were numerous analysts debating the results after the
bell and Dell dropped more than $1 in after hours trading.
There were as many excuses as there were analysts but the
main sticking point was a drop in margins. Higher Dram costs
and faster growth in lower margin businesses impacted the
overall margin. Not a big deal in my opinion. Dell like
Cisco has grown so large that they lack any real earnings
leverage and are forced to grow the old fashioned way. Dell
did see very strong growth in software, peripherals and in
its Asian business with China seeing a jump of +33%. Dell
is locked in a global battle with HPQ and they are competing
on a price level that prevents them from raising prices to
adjust for pricey components. Dell is still opting for more
market share instead of more profit. Dell issued inline
guidance of 29 cents for the current quarter. Dell had been
expected to beat by a penny according to the whisper numbers
but the higher memory costs prevented it despite a beat on
revenue by +$100 million.

ADI posted better than expected earnings and beating by +4
cents. ADI said profit more than doubled on strong demand
for consumer electronics. ADI guided higher for the current
quarter as well. ADI makes chips for cell phones and other
consumer goods. BEAS took it on the chin after reporting
inline revenues but said license revenues failed to hit its
targets. BEAS lost -1.50 in late trading. ADIC posted a
surprise loss -2 cents and said sales were falling amid
rising expenses. Estimates were for a profit of six cents.
The stock dropped -25% in late trading.

There was also good news making the rounds with Intel, Dell
and others saying they were raising their capex spending as
customer demand increased. Dell said corporate demand was
at a 3.5 year high. That can't be bad news.

Unfortunately the big brokerages are still cautioning about
potential tech weakness ahead. Merrill issued a comment that
the odds of a bear market in tech are increasing and hedge
funds added to their short positions. In the last hour of
trading on Wednesday when the massive short squeeze was in
progress there was over $26 billion in volume on the QQQ
and SPY. The closer we get to a 200dma failure the more
funds are hedging their bets. Currently open interest on
the QQQ May-34 puts is 650,000. The May-35 puts are 350,000.
These are huge bets the 200-day averages are going to fail.

This bearish sentiment is depressing buyers and the rebound
from Wednesday failed to show any follow through. I have
heard several stories about why that rebound may have
occurred but I think it was purely technical to start and
aided by a couple buy programs. On Tuesday I suggested that
the 200dma on the SPX at 1078 was very strong support and
could produce our best chance of a rebound. We hit 1078
three times on Wednesday with no material penetration. The
corresponding 200dma on the S&P futures was 1075.50 and the
low for the day was 1075.25. Personally I think we saw a
couple strong buy programs on a rebound from technical
support on very oversold conditions. The result was a severe
short squeeze and a rebound to prior resistance levels.





Had there been any real change in buying sentiment we should
have seen some follow through on Thursday. The Dow did recover
from the morning PPI dip but could not hold any gains over
10050. It was a battle just to stay over 10K at the close. The
current 200ema is 10003 and 200sma is 10017 and the Dow closed
right between them at 10010. The index fought those levels for
the last two hours of trading and failed to find conviction on
either side.

The Nasdaq was also stuck just above its 200ema at 1915 and
just below the simple 200 at 1943. It closed flat after trading
a dozen points on either side of zero and 1930 seems to be solid
resistance. With all the negative bias and the two trips to 1880
earlier in the week we should be thankful just to hold over 1900
for the last three closes. The Dell, BEAS, ADIC, ADI news after
the close initially sent the futures into the cellar but they
did recover some lost ground while waiting for the Nikkei to
open.

On Thursday the Nikkei closed down -328 at 10825. This is nearly
-1400 points from the April 26th 12195 high. If the Nikkei falls
again tonight the U.S. markets could quickly test their 200dma
support once again.

Bonds are continuing to crash on the potential for future rate
hikes but it did not hinder the quarterly refunding this week.
The 10-yr notes went off at 4.848% with a bid to cover of 2.78.
That was the strongest ratio since August-2001. Indirect bidders,
a group that included foreign banks, bought 43% of the notes sold.
This was very strong and up from 19.9% in the March sale. The 5%
level is a level that will attract numerous large buyers and the
PPI jump this morning pushed the yield very close to that level.
A safe 5% yield can look very attractive to many institutions
instead of stocks when the market is shaky.

For Friday we have the CPI, Consumer Price Index, and numbers
like we got on the PPI this morning will not be met with much
excitement and probably not many buyers. We will also get the
Business Inventories, Industrial Production and Michigan
Sentiment. None of those are expected to be shockers but just
more evidence the economy is growing slowly. If the Nikkei
trades down tonight there could be more weekend event risk
than usual. The last few Friday's have been mixed with both
gains and losses but the last two Friday's have been losers.
There is no real trend and this near the 200 day averages we
could find about as many bargain hunters as sellers. The wild
card is fund flows. With the market hitting new lows this week
we could be seeing fund withdrawals and Friday could be a pay
the piper day. I could find no reporting of fund flows today
and that is normally negative. They want to advertise when
money is flowing in but not when money is flowing out. Bottom
line, I am still in sell the rally mode and the Dow has strong
resistance at 10150 and 10200. Another major dip under 10K may
not be bought and the bulls have got to be nervous after barely
hanging on to that level for four days. The Nasdaq still has
strong resistance at 1930, 1950 and 1965 and very few buyers.
Another drop under 1900 could be the signal for the next leg
down. Next Friday is option expiration and recently the prior
week has seen lots of option related volatility. Tomorrow
could be really exciting or really boring depending on who
finds conviction first.

Enter Passively, Exit Aggressively.

Jim Brown
Editor


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

Breadth Improves
Jonathan Levinson

Today's pullback following yesterday's sharp intraday upside
reversal saw volatility increase, but breadth improved, as the
number of new highs rose against new lows for the NYSE and
Nasdaq.

Up volume over down volume was nearly even on the NYSE and
Nasdaq, slightly higher for the NYSE and slightly lower for the
Nasdaq.  The exception was for the AMEX, with the number of new
lows increasing from yesterday and with down volume 6x up
volume.  Volume was moderate on all 3 exchanges.

For tomorrow, we have the 8:30 release of the Core CPI for April,
estimated at +.2%.  At 9:15, there's industrial production and
capacity utilization for April, estimated at .5% and 76.7%
respectively.  Michigan sentiment is last at 9:45, estimated at
+96.

These reports will hopefully catalize a move out of the range
that held through Wednesday, and give us a clearer indication of
direction for the coming week.


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

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  8416
Current     : 10010

Moving Averages:
(Simple)

 10-dma: 10159
 50-dma: 10314
200-dma: 10017



S&P 500 ($SPX)

52-week High: 1163
52-week Low :  912
Current     : 1096

Moving Averages:
(Simple)

 10-dma: 1105
 50-dma: 1122
200-dma: 1078



Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1103
Current     : 1417

Moving Averages:
(Simple)

 10-dma: 1413
 50-dma: 1440
200-dma: 1416


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

CBOE Market Volatility Index (VIX) = 18.86 +0.72
CBOE Mkt Volatility old VIX  (VXO) = 19.38 +0.89
Nasdaq Volatility Index (VXN)      = 28.11 +0.49


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

          Put/Call Ratio  Call Volume   Put Volume

Total          1.01        684,749       692,405
Equity Only    1.89        145,455       274,349
OEX            2.97         27,000        80,245
QQQ            0.57        127,770        72,608


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

Bullish Percent Data

           Current   Change   Status
NYSE          62.4    - 2     Bear Confirmed
NASDAQ-100    34.0    + 1     Bear Confirmed
Dow Indust.   66.7    - 3     Bear Confirmed
S&P 500       59.0    - 1     Bear Confirmed
S&P 100       61.0    - 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: 1.07
10-dma: 1.02
21-dma: 1.02
55-dma: 1.01


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    1374      1321
Decliners    1471      1726

New Highs      24        37
New Lows      103        49

Up Volume    806M      783M
Down Vol.    897M      722M

Total Vol.  1716M     1519M
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

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


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

Sorting It Out

Jack in the Box - JBX - close: 26.31 change: -0.91

WHAT TO WATCH: Falling sharply in the wake of yesterday's
earnings report, JBX might initially look like a bearish
candidate, but upon closer inspection, we can see lots of support
converging near the $26 level.  The stock is trying to hold
support at its 50-dma, and the rising trendline from the October
lows is at $25.65, just above gap support near $25.40.  Look for
a rebound from the trendline to trigger entries and look for a
rally back towards strong resistance at $29.  Use a tight stop
just under the 100-dma at $24.90.




---

Amdocs Ltd. - DOX - close: 24.83 change: -2.79

WHAT TO WATCH: Getting pummeled today on its modest profit
outlook, DOX plunged through the 200-dma on heavy volume before
finally rebounding from just above the $23 level.  This was a
major breakdown under the $26 support level, but we're looking
for a return to the 'scene of the crime' to set the stage for a
viable bearish play.  Target a rollover in the $25.50-26.00 area
for entry and then look for a subsequent decline down to the $22
area.  Note that the PnF chart is now very bearish with a new
Sell signal and a $17 price target.




---

NVE Corp. - NVEC - close: 31.10 change: +1.27

WHAT TO WATCH: After a precipitous fall from the $55 level over
the past month, shares of NVEC are overdue for a rebound and it
looks like that bounce is finally getting underway from the
$26.50 area.  But there's some stiff resistance looming overhead
at the site of broken support near $35-36.  Let this rebound run
its course and then look to enter on a rollover from resistance,
playing for a drop back down to test and possibly break the
recent lows.




---

Target Corp. - TGT - close: 43.17 change: -1.18

WHAT TO WATCH: In a clear sign of indecision, shares of TGT have
been consolidating in a very clean neutral wedge for the past 2
months.  This pattern is due to break soon and a play in the
direction of the break looks attractive.  On a break above the
top of the wedge ($44.60), bulls will get to play, with an upside
target in the $47-48 area.  On the downside, entries should be
triggered on a break of the lower wedge boundary ($43.00),
targeting a drop to the 200-dma at $40.51.  Stops should be
placed on the opposite side of the wedge.




---


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

NSIT $17.54 - After a strong rebound from key support at $16
earlier this week, NSIT rolled over right at the violated 200-dma
this morning, ending at its low of the day.  The rebound made
perfect sense, as it came at the PnF bullish support line.  But
with the stock on a PnF Sell signal with a downside target of
$12, odds clearly favor the bears. Use a trigger of $16 for
entries and target a drop towards that $12 level.  Take note of
the potential for near-term support to be found near $15 on the
way down.

CSCO $21.76 - Investor's clearly weren't thrilled with CSCO's
earnings report earlier this week, but that hasn't stopped the
stock from refusing to break down.  CSCO has been tracing out a
bear flag pattern for the past couple weeks and the best approach
for entry will come on a break of that pattern.  Use a trigger at
$21 and target a drop towards next strong support in the $18.50-
19.00 area.

BJ $20.43 - While the broad market tries to build a new base,
shares of BJ just keep plunging lower and lower.  Thursday's
price action was particularly dismal, as the stock broke below
its January lows on very heavy volume.  Chasing the stock lower
at this point doesn't seem advisable, but a failed rebound in the
vicinity of $22 looks like a solid bearish entry point.  Note
that the PnF chart is bearish, with a downside target of $15,
with the bullish support line at $16.  Conservative traders can
target the $19 level, while those looking for a long-term play
can set their sights on that $16 level.


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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
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newsletter picks are not to be considered a recommendation
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Copyright ) 2003  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.





PremierInvestor.net Newsletter                 Thursday 05-13-2004
                                                    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:      SINA
Stock Splits:      APPB


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

SINA Corp - SINA - close: 29.75 change: +1.63 stop: 30.05

Thursday, SINA moved up high enough to trigger our stop but then
sank back below the $30.00 level.  That rise occurred on rising
volume, too, signaling trouble for any bearish play.  SINA closed
well above the 10-dma, too.  We note that other Chinese Internet-
related stocks rose on increasing volume, but also closed back
below key resistance levels.

MACD is on the verge of a bullish cross, but from below signal.
Stochastics verge on moving above signal.  RSI, always the first
to react, has pushed higher.  The combination of these factors
leaves some doubt about whether SINA and other similar stocks
will continue to rise, but that higher volume served as a warning
sign.

Picked on June 02 at  $28.50
Change since picked:  + 1.25
Earnings Date        04/27/04 (confirmed)
Average Daily Volume:     4.2 Million





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

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

APPB dishes up a 3-for-2 stock split

Restaurant chain Applebee's International Inc (NASDAQ:APPB)
announced around lunchtime today that its Board of Directors had
approved a 3-for-2 stock split of its common shares.

The payable date for the stock split is June 15th, 2004 to
shareholders on record as of May 28th.

About the company:
Applebee's International, Inc., headquartered in Overland Park,
Kan., develops, franchises and operates restaurants under the
Applebee's Neighborhood Grill & Bar brand, the largest casual
dining concept in the world. There are currently 1,603 Applebee's
restaurants operating system-wide in 49 states and nine
international countries. Additional information on Applebee's
International can be found at the company's website
(www.applebees.com).


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

C       Citigroup                  46.31    +0.62
TOT     Total Sa (ADS)             92.87    +0.51
NTT     Nippon Tel & Tel (ADS)     23.12    +0.68
WFC     Wells Fargo & Co New       55.90    +0.80
BAC     Bank of America Corp       80.34    +1.91
FNM     Fannie Mae                 70.08    +0.57


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

None


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

MATK    Martek Biosciences Corp    70.79    +2.78


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

MO      Altria Group Inc           49.80    -3.60
BSY     British Sky Broadcstg Grp  44.42    -1.66
ZMH     Zimmer Holdings            79.75    -1.15
STJ     Saint Jude Medical Inc     71.40    -2.30
WIT     Wipro Ltd (ADS)             41.00    -1.14


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

None


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