PremierInvestor.net Newsletter Thursday 07-08-2004 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: Day in Court Market Sentiment: Investors On the Defensive Watch List: Tech to Homes to Insurance ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 07-08-2004 High Low Volume Adv/Dcl DJIA 10171.56 - 68.70 10263.73 10166.25 1.66 bln 1067/2077 NASDAQ 1935.32 - 30.80 1964.48 1934.57 1.79 bln 700/2366 S&P 100 540.21 - 4.04 545.31 539.92 Totals 1767/4443 S&P 500 1109.10 - 9.23 1119.12 1108.72 W5000 10808.15 -105.80 10913.93 10804.31 SOX 442.95 - 1.10 450.34 441.73 RUS 2000 560.71 - 11.32 572.03 560.54 DJ TRANS 3071.29 - 78.80 3149.37 3069.78 VIX 16.20 + 0.39 16.36 15.50 VXO (VIX-O)16.05 + 0.30 16.29 15.37 VXN 22.68 + 0.42 22.91 22.10 Total Volume 3,748M Total UpVol 736M Total DnVol 2,983M Total Adv 2035 Total Dcl 4957 52wk Highs 130 52wk Lows 168 TRIN 1.96 NAZTRIN 1.27 PUT/CALL 0.91 ================================================================= =========== Market Wrap =========== Day in Court by Jim Brown Today was taken over by court TV with Ken Lay's indictment and press conference taking center stage. Another sideshow came from the Adelphia trial where the Rigas family head was found guilty on almost all counts. Stocks? That was almost an after thought and after traders thought about the continued earnings warnings they sent the indexes to new lows across the board. Dow Chart - Daily Nasdaq Chart - Daily The morning economic reports helped pull the markets back from a very bad Yahoo induced overnight drop. The Jobless Claims really did correct after the multiple weeks of high numbers in the 350K range. The drop last week to 310,000 was the lowest level since October 2000. However, analysts were quick to caution that the sudden drop was more than likely the result of seasonal adjustments. Seems we just can't win. At least the Labor Department came right out with the caution saying there may have been an inappropriate seasonal adjustment. Since they made that announcement with the number it seems like they should have just corrected it and been done. You don't really think they just realized it at 8:29 this morning do you? Still we live in a headline world and the headline 310K number was successful in lifting the futures well off their lows. Expect next week's numbers to be higher. Reversing the warm feelings from the Jobless Claims was the drop in Retail Sales for June to +2.9% from +5.7% in May. This was the smallest gain since June-2003 and well off the +6.0-7.0% range from the first quarter. Department stores, furniture stores and shoe stores posted the weakest results. Even the discount stores barely posted a gain at +1.5%. Drugs and Wholesale Clubs were the only bright spots that kept the headline number in positive territory. Personally I am not encouraged that Drug stores saw the largest gain at +8% since those are normally forced sales of some sort and not pure voluntary spending. The same store sales were generally less than expected across the board with the majors blaming the slow sales on everything but a plague of locusts. Weather was the primary excuse but the slowdown was nationwide and that suggests there was a stronger factor such as continued high gas prices. July numbers are not expected to show any increase with back to school shopping expected to be put off until the last minute due to lack of money. Consumer Debt levels are near record highs and they are limiting the amount of credit available for spending. Consumer Credit increased by +$8.2 billion in May and the April numbers were revised from +$3.9B to +$5.3B. The May jump was the largest increase since January. The Manufacturers Alliance Survey (MAPI), the index of future business activity jumping to 80, set a record for the third consecutive quarter. Shipments and New Orders surged to 93 from 90 and Back Orders soared to 93 from 85. All components rose and this suggests that manufacturing activity over the next six months will continue to increase. This was a very bullish report and was a new record for the headline number. However, this report compares activity to the same period last year and Q2-2003 was not a hotbed of activity. The comparisons going forward are going to get much more difficult to show gains. This report is not normally a market mover as it looks back over the last quarter and many analysts are now suggesting we hit a peak in late April early May. This makes other more current numbers like the ISM a better read on the economy. The key focus for the day was on the Ken Lay circus in Houston. He was indicted for his alleged role in the Enron disaster. He took the unprecedented step of holding a press conference once he was released from custody in order to proclaim his innocence. This highly unusual tactic garnered the television spotlight for most of the day and stock news took a back seat to the spectacle. This may have been a very good thing for the markets as the earnings news has been moving from bad to worse as the current confession cycle draws to a close. Yahoo disappointed Wednesday night and knocked the wind out of the Internet sector and that rippled through techs in general. One good thing Yahoo accomplished was to take the focus off the semiconductor sector and those stocks actually saw some gains early on but those gains faded as we neared the close. I am not going into detail but over the last two days we have seen over 20 companies warn and I can only remember one company that guided higher. That was Yellow Roadway after the close today. According to First Call 1015 companies have issued guidance for Q2 and 51% of those were positive, 15% inline and 34% were negative. Those who follow these things claim the warning ratio for Q2 is only 1.5 and well below the 2.2 average for Q2. This may well be a statistical anomaly that keeps their stress level intact but the pace of warnings does not appear that tame to investors. Maybe it is the rush to confess over the last week that has changed the landscape. That landscape changed drastically over the last week with the Dow breaking below the 10200 support level today and trading at a six week low. That closing low at 10171 is under the 200dma at 10175. Close enough to hang on by its fingernails but still dangerous. The Dow will be at risk again on Friday as GE reports earnings before the bell. GE has done a good job in managing expectations or should I say lowering expectations so there should not be any earnings surprise. However GE is the proxy for the economy and as such their guidance will be viewed as the gospel for the future. Their revelations will be seen as the roadmap for the rest of the year. A positive spin could go a long way towards curing the economic flu and earnings fever now afflicting traders. Strangely traders have ignored recent warnings by GE so downside risk may be limited. The Nasdaq continued its plunge to close at 1935 and and for once was not led down by the semis. The Internet Index ($IIX) lost -2.5% on the losses in YHOO -2.52, EBAY -3.22, AMZN -1.50 among others. The Software Index ($GSO) lost -3.13% on continued warnings in that sector. With losses like these the Nasdaq never had a chance. The Nasdaq closed under all its averages 50/100/200 and appears destined to retest 1900 unless a tech miracle appears very quickly. Another factor in the Nasdaq decline was a massive drop in the Russell-2000. The Russell lost -11.32, -2% and closed at 560, right on critical last ditch support. The Russell was under pressure all afternoon with major sell programs late in the day. The close at 560 is critical and a break below this support level could easily see a sharp drop to 540 and the May lows. The Russell has fallen -5.2% since July 1st and the decline does not appear to be slowing. Today's close is exactly on the 200dma and technical buyers should appear on Friday but I am not counting on it. There is simply too much negativity in the market and unless GE praises the economy and its earnings outlook in glowing terms tomorrow there may be a concentrated run to the exits before the day is over. Russell-2000 Chart Next week we have over 300 companies reporting earnings and unless the trend changes quickly each report will only be another appetizer for the bears before the summer rampage begins. The parade of bullish analysts continues on CNBC with each proclaiming the merits of the undervalued market. Obviously somebody is very wrong. The bulls have a definite wall of worry ahead of them and right now they appear to have no interest in putting on their climbing shoes. TrimTabs claimed the first three days of July saw +$2.5 billion inflows to equity funds. According to TrimTabs this was the largest three-day inflow since $5B hit the tape in March. Considering June was the end of the quarter and a trigger for strong retirement contributions I would have thought the first week in July would have seen much stronger inflows. Regardless of the actual cash being put to work the markets have been in free fall since July 1st. Helping that free fall was a press conference by Tom Ridge of Homeland Security warning that a large scale attack is still being planned for this summer inside the United States in an effort to disrupt the elections. Since the democratic convention will begin in slightly over two weeks on July-26th the countdown clock is ticking ever louder. Homeland Security claims to have no specific details of an impending attack but they do have increasing confirmation that one is imminent. This should send chills up the back of any investor with a large portfolio who remembers the 9/11 drop. With GE not expected to be a market mover tomorrow we are going to be faced with weekend event risk and nothing especially cheerful to send the markets higher. There are no material economic reports and odds are good we will see some more earnings warnings from companies hoping to escape investor wrath by warning on a summer Friday when attention to the market is minimal. With the Dow and the Russell both closing on their 200 day averages there is support for buyers wanting to buy the dip. How well that support will hold is still the $64 question. Personally I would not enter a long position on Friday regardless of the market behavior. I would only day trade any bounce but always keeping my eye on the exit. My bias for Friday is flat to down but I would not rule out an oversold bounce. We have not seen any market-supporting buy programs recently and the Dow/Russell 200 day averages would be a good place to launch one of those rockets. Fortunately we will get to see some real earnings from the largest blue chips next week, both techs and non techs. These earnings will blot out the red marks left by the dozens of small cap warnings over the last few days. This will be our chance to reverse the drop and return to our trading range but the black cloud on the horizon will remain until the democratic convention is over. Keep those stops in place because they could protect you from serious harm. Enter Passively, Exit Aggressively. Jim Brown Editor =============================== Market Sentiment =============================== Investors On the Defensive - J. Brown It looks like investor confidence has finally cracked. With a constant parade of earnings warnings and YHOO's failure to hit investors expectations combined with TV scenes of Tom Ridge, the Secretary of Homeland Defense, telling us that terrorists are planning to hit us this summer and/or on or during the election the flight to safety in the markets was bound to happen. Right? It seems so easy to see in hindsight. The terror threat is nothing new. We've been talking about the Democratic and Republican conventions as targets for weeks if not months. So why a reaction now is a good question. The financial media is blaming the terror warning today for the rally in crude oil, which happened to close back over the $40.00 a barrel mark. What is interesting is the market's reaction. Traders are rotating money out of tech stocks and into traditional safe havens like drug stocks, gold stocks, and bonds. Gold itself rose $5.50 to close at $408 an ounce while the XAU gold & silver index witnessed some follow through on yesterday's 4% rally. The next test for gold stocks will be to see if the XAU can break through its simple 100-dma. Meanwhile it may be all downhill for software stocks. The SEBL and BMC warnings today follow recent warnings from VRTS and the GSO software index dropped another 3% today. Granted nothing moves in a straight line and most of the major software stocks are probably due for an oversold bounce but the new trend seems to be that corporate America is not spending any money and are pushing out any big purchases. That could make next quarter's numbers pretty depressing. Plus, I heard some disappointing conjecture about how MSFT is likely to disappoint investors with its plans (or lack of) to distribute its $55 billion cash hoard. Overall today's internals were very bearish. Decliners outnumbered advancing issues 19 to 8 on the NYSE and 23 to 7 on the NASDAQ. Down volume was about four times up volume on both exchanges. Bulls will be disturbed to see the Industrials close under its simple 200-dma today while the NASDAQ composite has completely fallen through the bottom of its trading range and potential support at 1950. Look for the S&P 500 index to test support at 1100 and its simple 200-dma soon. Maybe then we can see an oversold bounce. Looking ahead to tomorrow Wall Street will be focused on General Electric's (GE) pre-morning earnings report and guidance for the third quarter. Estimates are set at 37 cents a share. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 8996 Current : 10171 Moving Averages: (Simple) 10-dma: 10311 50-dma: 10235 200-dma: 10178 S&P 500 ($SPX) 52-week High: 1163 52-week Low : 960 Current : 1109 Moving Averages: (Simple) 10-dma: 1128 50-dma: 1118 200-dma: 1100 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1204 Current : 1431 Moving Averages: (Simple) 10-dma: 1480 50-dma: 1449 200-dma: 1443 ----------------------------------------------------------------- CBOE Market Volatility Index (VIX) = 16.20 +0.39 CBOE Mkt Volatility old VIX (VXO) = 16.11 +0.36 Nasdaq Volatility Index (VXN) = 22.68 +0.42 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.91 731,641 667,630 Equity Only 0.82 580,709 477,272 OEX 0.77 39,779 30,676 QQQ 1.56 45,227 70,513 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 66.2 - 1 Bear Confirmed NASDAQ-100 49.0 - 1 BULL ALERT Dow Indust. 70.0 + 0 Bear Confirmed S&P 500 63.2 - 1 Bear CORRECTION S&P 100 65.0 - 1 Bear CORRECTION Bullish percent measures the number of stocks in an index currently trading on a buy signal on their point and figure chart. Readings above 70 are considered overbought, and readings below 30 are considered oversold. Bull Confirmed - Aggressively long Bull Alert - Cautiously long Bull Correction - Pause or pullback in upward trend Bear Alert - Take defensive action if long Bear Confirmed - High risk if long, good conditions for shorting Bear Correction - Pause or rebound in downtrend ----------------------------------------------------------------- 5-dma: 2.19 10-dma: 1.62 21-dma: 1.27 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 859 690 Decliners 1937 2350 New Highs 65 27 New Lows 51 99 Up Volume 344M 318M Down Vol. 1327M 1428M Total Vol. 1679M 1763M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 06/29/04 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 It would appear that no one wanted to make any big bets this week with the Iraq handover, the FOMC meeting and the Jobs report. Commercial traders remain slightly bearish and small traders remain bullish. Commercials Long Short Net % Of OI 06/08/04 397,294 452,904 (55,610) (6.5%) 06/15/04 428,905 444,197 (15,292) (1.8%) 06/22/04 407,842 415,462 ( 7,620) (0.9%) 06/29/04 405,273 413,351 ( 8,078) (0.9%) 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 06/08/04 158,373 92,794 65,579 26.1% 06/15/04 169,595 115,336 54,259 19.0% 06/22/04 124,985 89,934 35,051 16.3% 06/29/04 129,978 94,535 35,443 15.7% 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 tempered their bearishness a bit but they remain very bearish on the e-minis. Likewise small traders are still very bullish. One group is going to be terribly wrong here and odds are in favor of the big traders. Commercials Long Short Net % Of OI 06/08/04 367,191 409,246 (42,055) (5.4%) 06/15/04 440,867 522,546 (81,679) (8.5%) 06/22/04 229,290 446,974 (217,684) (32.2%) 06/29/04 258,443 447,505 (189,062) (26.7%) 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 06/08/04 140,191 84,649 55,542 24.7% 06/15/04 216,759 147,247 69,512 19.1% 06/22/04 243,444 58,389 185,055 61.3% 06/29/04 236,492 47,780 188,712 66.3% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Commercial traders are relatively neutral on the NASDAQ-100 with a small bullish bias. Meanwhile small traders have turned a bit more bearish on the group. Commercials Long Short Net % of OI 06/08/04 64,747 41,178 23,569 22.3% 06/15/04 78,542 54,341 24,201 18.2% 06/22/04 40,397 37,413 2,984 3.8% 06/29/04 41,078 37,194 3,884 4.9% Most bearish reading of the year: (21,858) - 08/26/03 Most bullish reading of the year: 25,160 - 06/01/04 Small Traders Long Short Net % of OI 06/08/04 9,716 29,594 (19,878) (50.6%) 06/15/04 15,794 35,880 (20,086) (38.9%) 06/22/04 9,311 9,950 (639) ( 3.3%) 06/29/04 7,437 11,904 (4,467) (23.1%) Most bearish reading of the year: (20,270) - 06/01/04 Most bullish reading of the year: 19,088 - 01/21/02 DOW JONES INDUSTRIAL Not much change for the commercial traders. They remain bullish on the Dow Industrials. Small traders have turned a little more bearish on the index. Commercials Long Short Net % of OI 06/08/04 24,636 25,821 (1,185) (2.3%) 06/15/04 30,438 24,766 5,672 10.3% 06/22/04 26,808 19,752 7,056 15.2% 06/29/04 27,278 20,512 6,766 14.1% 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 06/08/04 8,325 6,431 1,894 12.8% 06/15/04 13,942 20,953 (7,011) (20.1%) 06/22/04 5,626 7,798 (2,172) (16.2%) 06/29/04 4,930 7,682 (2,752) (21.8%) 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 --------------------------------- Tech to Homes to Insurance Flamel Technologies - FLML - close: 20.60 change: -2.93 WHAT TO WATCH: Whoa! FLML dropped 12.45% on ten times its average volume to break through the bottom of support that has held since November 2003. The move produced a massive P&F chart sell signal with a bearish $12.00 target. Bears might want to do some digging here. An oversold bounce and failed rally under $22.50 could be a potential entry point or a momentum player can look for a drop through today's low at $19.58. --- Diagnostic Products - DP - close: 39.78 change: -1.82 WHAT TO WATCH: It has not been a good month for DP. The stock peaked above the $44 level and its 200-dma at the end of June. Since then it's been a steady decline and DP has broken various levels of support. Today's 4.3% drop on big volume broke through the round-number psychological support at $40.00. Bears might want to short it with a target near $36-35. Earnings are believed to be on or around July 23rd. --- DR Horton Inc - DHI - close: 26.00 change: -1.37 WHAT TO WATCH: DHI dropped 5% today despite reporting a 23$ jump in Q3 sales. Investors chose to ignore the good news and focus on a negative report from smaller homebuilder MHO. Bulls will be looking to see if investors defend DHI at the $24.50-25.00 support level. Obviously bears will be looking for the breakdown. A drop under $24.00 would produce a new triple-bottom breakdown sell signal on its P&F chart. --- Zenith National - ZNT - close: 51.05 change: +1.25 WHAT TO WATCH: The markets have been pretty weak lately so we wanted to find a relative strength candidate for bullish traders. ZNT qualifies and managed to close at a new all-time high today. Volume was pretty strong and we like the close over $50.00 but there is a trendline of resistance across its peaks that could cause trouble. It would be better to look for a bounce from its 40-dma. ----------------------------------- RADAR SCREEN - more stocks to watch ----------------------------------- INSP $32.24 -2.96 - Ouch! INSP dropped 8.4% on big volume today. We might consider bearish plays if it breaks the 200-dma near round-number support at $30.00. MMS $33.32 -1.60 - Another short candidate. MMS is quickly approaching crucial support at the $33.00-32.50 level. A breakdown here and traders could target the $30.00 region. TOL $39.30 -1.84 - TOL is another homebuilder and today's drop broke support at the $40.00 mark and its 40, 50 and 200-dma's. ================================================================= 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 Thursday 07-08-2004 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: BORL, ASKJ, SHW, SOHU, VISG Closed Plays: TWTC 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 ================================================================= BORL - tech stock short - Lower stop from $8.01 to $7.83 --- ASJK - tech stock short - ! Alert - important change in entry point. ASKJ did NOT meet our requirements to open the play by its gap lower to $31.67 this morning. However, the intraday failed rally and failure to close back above the $32.50 level looks encouraging. We're going to suggest entries at current levels: $31.59. This is a HIGH RISK play so we will try and reduce our risk by using a tight stop just above today's high: $32.88. Our target is the $27.50 range. Action= new entry: $31.59 new stop: $32.88 --- SHW - non-tech long - No change in stop. SHW is about to be stopped out if shares break support at $40.00. --- SOHU - high risk short - No change in stop. Be prepared to EXIT at $15.25 --- VISG - high risk short - Lower stop from $8.51 to $8.25 ================================================================= Closed Plays ================================================================= Time Warner Telecom - TWTC - close: 4.20 change: -0.43 stop: 4.29 Ouch! It was not a good day to be long technology stocks. Another round of earnings warnings undermined the tech sector and the NASDAQ sank below the 1950 level. Telecom stocks didn't fare well either and TWTC's relative strength from yesterday faded before our eyes. Our effort to keep our risk to a minimum had us quickly stopped out at the $4.29 mark. Picked on July 07 at $ 4.63 Gain since picked: - 0.43 Earnings Date 07/27/04 (confirmed) Average Daily Volume: 985 thousand ================== 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) 98.90 +0.90 CD Cendant Corp 24.97 +0.81 GD General Dynamics 100.11 +1.36 TGN Texas Genco 46.83 +0.63 BKS Barnes & Noble 35.72 +0.55 PPC Pilgrim's Pride Corp 31.03 +0.73 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- MDCC Molecular Devices 19.13 +1.02 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- KSS Kohl's Corp 43.48 +2.02 JCP J.C.Penney 38.18 +1.97 SNN Smith & Nephew 58.00 +2.13 ISCA Intl Speedway 51.71 +1.76 TUES Tuesday Morning 32.48 +3.38 AH Armor Holdings 36.44 +1.43 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- EBAY eBay Inc 83.65 -3.22 DNA Genentech 52.12 -1.78 YHOO Yahoo! Inc 30.08 -2.52 SAP SAP Ag (ADS) 37.96 -1.84 CA Computer Associates 24.48 -1.52 TJX TJX Companies 22.16 -1.95 PGN Progress Energy 41.95 -1.20 TROW T.Rowe Price 46.73 -1.55 MGG MGM Mirage 42.71 -2.18 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- BYD Boyd Gaming 25.76 -1.16 GYI Getty Images 57.78 -1.58 ================================================================= 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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