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Daily Newsletter, Wednesday, 07/14/2004

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PremierInvestor.net Newsletter                Wednesday 07-14-2004
                                                    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:  A Setup
Watch List:   More Tech Heading Lower

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)
===============================================================
     07-14-2004            High     Low     Volume Advance/Decline
DJIA    10208.80 - 38.79 10286.89 10172.39 1.78 bln   1336/1467
NASDAQ   1914.88 - 16.78  1937.68  1908.98 2.08 bln   1114/1876
S&P 100   541.79 -  2.21   546.01   539.90   Totals   2450/3343
S&P 500  1111.47 -  3.67  1119.60  1107.83
RUS 2000  559.74 -  2.95   565.88   557.66
DJ TRANS 3085.22 +  5.48  3107.87  3058.57
VIX        13.76 -  0.70    16.59    13.34
VXO        15.10 -  0.58    16.16    14.43
VXN        21.64 +  0.22    22.37    21.07
Total Volume 4,221M
Total UpVol  1,357M
Total DnVol  2,804M
52wk Highs     136
52wk Lows      210
TRIN          1.52
PUT/CALL      0.94
===============================================================

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

A Setup
Linda Piazza

Disappointment over some aspects of Intel's earnings report set
markets up for a decline in Wednesday's trading.  The parade of
warnings from after Tuesday's close and before Wednesday's open
also contributed, with those warnings coming from ELMG, IMN, LIN,
and KOMG, perhaps among others.  Despite gains in banking stocks,
tech weakness in Asia sent the Nikkei 2.17 percent lower.
European bourses headed lower.  So did our futures.  Merrill
Lynch trimmed its earnings estimates for the bellwether tech
stock, INTC, and Deutsche Bank made negative comments about the
company's inventories.  Prudential cut INTC's rating to neutral.
The setup was perfect.

At 8:30, the release of June's import and export prices and
retail sales also contributed to anticipated weakness in the
markets.  May's imports had risen 0.2 percent, and exports had
risen 0.4 percent.  June's imports dropped 0.2 percent, with the
ex-oil number flat.  June's exports dropped 0.6 percent, with the
ex-ag number dropping 0.1 percent.  Exports are the most closely
watched of the export/import numbers since they indicate demand
for U.S. goods overseas, but also since the import number lags
other indicators.  The numbers were termed soft, and the setup
was almost complete.

Retail sales might have been the most closely watched of all the
numbers released Wednesday morning, with overseas analysts
mentioning U.S. retail sales frequently over the last week.
Although retail sales can be volatile, they're indicative of one
component of consumer spending patterns. May's retail sales had
risen 1.2 percent and 0.7 percent ex-auto, but economists had
forecast a 0.7 percent drop for June.  Instead, June's retail
sales fell a greater-than-expected 1.1 percent, with May's retail
sales revised up to a 1.4 percent gain.  June's auto sales fell
4.3 percent, their deepest cut since February 2003, according to
one article. Ex-auto retail sales fell 0.2 percent in June.  The
setup was complete.

Despite the disappointing export and retail sales numbers,
futures displayed little reaction at first.  They had dropped
after the Intel announcement after hours Tuesday and drifted down
near the overnight lows just prior to the 8:30 announcements.
They drifted slightly lower.

Juniper Network's overnight announcement that it expected Q3
earnings to exceed analysts' expectations sent that stock higher
by 9 percent in the pre-market but did little to stem tech
weakness.  Earnings announcements pre-open included Bank of
America's better-than-expected results, but that wasn't enough,
either.

The setup worked.  For a few minutes.  Cash markets displayed the
expected weakness at the open, with the SOX plunging through the
440 level to a morning low of 420.69. The TRAN dropped low enough
to test last Friday's low.  The Nasdaq opened below its 200-ema
after closing beneath it Tuesday for the first time since May's
weakness, with the Nasdaq then dropping to 1908.98.  The Dow fell
low enough to touch its 200-sma, perhaps helping to trigger the
V-shaped recovery that soon began.

That rebound proved impulsive, to borrow OIN Market Monitor
commentator Keene Little's expression.  At first markets seemed
little disturbed by news of an explosion in Iraq that killed
Mosul's governor or the Department of Energy's revelation that
crude inventories fell 2.1 billion against an expected climb.
The API's industry figures showed an even larger drop of 5.1
billion, with the two figures seldom agreeing.  Gasoline stocks
also fell against an expectation of a small rise.  Even the TRAN
chugged higher, stretching above 3100 again.  The initial lack of
response may have been due to the rise in distillate inventories,
perhaps hinting that those inventories had just been shifting up
the refining food chain from crude to distillates.  Perhaps the
lack of response was due to a formation on the intraday chart of
the crude futures that hinted that futures were unlikely to move
above $40.00/barrel.

Once crude futures moved above $40.00 at about 1:00 EST, however,
indices dove.

Annotated 30-Minute Chart of Crude Futures:



Annotated 30-Minute Chart of the SPX:



The official Fed-speak line lately has been that inflationary
pressures due to rising energy costs will be transitory.  Market
watchers have also noted that consumer sentiment usually isn't
dented too heavily by rising gasoline costs as long as consumers
feel those costs are temporary.  Lately, however, a retailer
blamed lowered sales on the bite higher gasoline costs were
taking out of customer's spending.  While tomorrow might see
conciliatory statements out of OPEC and non-OPEC oil-producing
countries, a continued rise in crude prices should continue to
pressure equities.

Also exerting pressure was the 4.48 percent drop in the SOX.

Annotated Daily Chart of the SOX:



While a bounce back up to test broken support at 440 can't be
ruled out, neither can a test of 406 likely support.  However, as
dire as the SOX's chart looks, the Nasdaq's offers some hope that
the decline in that index may be almost over on the short term.

Annotated Daily Chart of the Nasdaq:



Confirmation of the possible reversal signal would occur with an
open tomorrow above today's close, preferably a gap higher
opening, and then a continued climb.  Any reversal might be short
lived, however, consisting of a rise to test broken support,
perhaps near the midline of the descending regression channel or
perhaps a bit higher, near the 1960 former support or the 50-dma,
now at 1964.78.

The Russell 2000 also offers hope of a possible bounce, but one
that might be short lived.

Annotated Daily Chart of the Russell 2000:



A drop through the Russell 2000's 557.70-ish support instead
would suggest a possible retest of May's low.

The Dow clung to recent support, managing a close above the 200-
sma and the midline of its descending regression channel,
prepared for a downturn through that channel or a rise up to test
Wednesday's high and then the 100-dma and perhaps 10,300-10,350,
with each step dependent on a successful retest of lower
resistance.

Annotated Daily Chart of the Dow:



The SPX also continues to bounce from tests of the midline
support of its descending regression channel, although the term
"bounce" must be loosely applied.  The SPX has not retested its
200-sma, but market participants should watch for a possible test
of that average, now at 1,102.65, as it was touches of that SPX
average that bounced markets in May.  A failure to bounce on a
test this time could send the SPX toward 1,090 and then toward
the bottom of its regression channel, sending other indices
lower, too, but market bears should probably prepare for at least
a tepid bounce attempt if that average should be touched.

Annotated Daily Chart of the SPX:



Did anything change in after hours to change the pictures on
these charts?  After-hours earnings included INTC competitor AMD,
with the company saying that higher sales produced a Q2 profit in
comparison to the year-ago loss.  Reports characterized earnings
as being in line with estimates.  At the time this report was
prepared, AMD was trading at $13.33, down from the close at
$13.74.  AAPL's earnings of 16 cents/share beat expectations for
15 cents per share.  Sales of $2.014 billion also beat
expectations for sales of $1.94 billion. As this report was
prepared, AAPL was trading at $29.70, up from the close at
$29.58.  QLGC and SNDK also reported after hours, with both
gaining after hours.  QLGC traded at $25.68 as this report was
prepared, up from the close at $24.50. QLGC reported earnings in
line with expectations. SNDK had climbed to $23.82 as this report
was prepared, up significantly from the close at $19.98.  SNDK
beat forecasts by 8 cents a share.  Revenue was $433.29 million
against expectations of $410.89 million.

Nasdaq futures climbed after the cash close, at least keeping
alive the possibility that it could deliver on the suggested
reversal signal.  Dow and SPX futures climbed, too, building hope
that they could cling to midline support on their descending
regression channels.  In a climate of increasing fuel costs,
however, those hopes prove tenuous, and an 8:30 report tomorrow
could explode them.

Thursday's economic reports include the much-awaited June PPI, to
be released at 8:30.  For more than a week, I've been reading
reports on forex-related sites about how the dollar has been
pressured by worries about the PPI.  May's core PPI, excluding
food and energy costs, had shown a 0.3 percent increase, with
expectations for June's number at a 0.2 percent rise.  May's PPI
had shown an 0.8 percent increase, with expectations for June's
number from a flat number to a 0.2 percent increase.  A much
higher than expected PPI number could damage any hopes for a
bounce.

Also to be released Thursday morning are the initial claims
numbers, with last week's claims at 310 thousand and with
expectations for a rise to 335-340 thousand.  For two weeks in
June, we saw the claims number surprise to the downside, with the
lower-than-expected number attributed to Federal holidays during
the week.  We'll see if expectations have been managed better
this time with the July 4th holiday falling within the current
reporting week.

Economic reports won't conclude with these releases, however.  An
additional 8:30 release includes the NY Empire State Index for
July, with the index at 30.2 for June and forecast to measure 28
for July.  At 9:15, June's capacity utilization and industrial
production numbers will be released.  At noon, the Philly Fed
releases July's index, with the prior number at 28.9 and
expectations for 25.  At 2:00, the Treasury Budget figures for
June will be released, with the previous number at $21.2 billion.

In addition, more than 100 companies report Thursday, including
Citigroup (C, before the open), Cypress Semiconductor (CY, before
the open), Fairchild Semiconductor (FCS, before the open),
Marriott International (MAR, before the open), Nokia (NOK, before
the open), Pepsico (PEP, before the open), Southwest Airlines
(LUV, before the open), Stryker (SYK, after the close), and
UnitedHealth Group (UNH, before the open).

As should be obvious from this detailing of only some of the
economic and earnings reports due tomorrow, market participants
will have much to digest on this option-expiration Thursday.  The
pin-them-to-the-numbers game usually begins Thursday afternoon,
too, so that any move higher might be tempered or reversed by any
one of those numbers, technical considerations as indices reach
the top of recent consolidation zones, higher crude prices, or
that usual pin-them-to-the numbers tendency.  During May's
consolidation, false breakouts occurred with increasing frequency
as time progressed, and that may be happening now, too.  As this
report is written, markets look ready to attempt a bounce, but
those bounces will be bounces into consolidation zones or proven
resistance, so trade them with care if you must trade at all.
Trade has been choppy within those consolidation zones, and may
grow choppier still, as May's pattern proved and today confirmed.

If markets instead head lower tomorrow, bears should keep that
SPX 200-sma on the radar screen, making plans as to how you'll
handle tests of that moving average from which the markets
bounced in May.


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

More Tech Heading Lower

Zoran Corp - ZRAN - close: 14.79 change: -0.52

WHAT TO WATCH: Chips stocks have been hammered this month and
last night's earnings report from Intel and Intel's gap down
today didn't help any.  ZRAN, another semiconductor stock, tried
to produce an oversold bounce today but failed again.  The drop
under the $15.00 level looks like a bearish entry point but ZRAN
does have some support near $14.63 from last October.  Plus, the
company is expected to report earnings on July 22nd.  P&F chart
readers will notice the new spread triple-bottom breakdown sell
signal and $9.00 target.




---

Insight Enterprises - NSIT - close: 16.16 change: -0.44

WHAT TO WATCH: Bears are probably circling around NSIT as it
drifts lower and lower toward key support at the $16.00 level.
NSIT has consistently bounced from this level since last October
but this time the trend looks rather weak and we could see a
breakdown.  Such a drop under the $16.00 level would produce a
new triple-bottom sell signal on its P&F chart, which currently
points to a $12.00 target.  Watch out for earnings on July 22nd.




---

Imagistics Intl Inc - IGI - close: 33.33 change: -0.66

WHAT TO WATCH: The bearish descent in IGI continues.  Shares
recently broke support at the $35.00 region and its MACD has
produced another sell signal.  The selling appears to be picking
up steam and traders might want to target a drop toward the
$30.00 level.  Its P&F chart is bearish and points to a $25.00
target.  Look for earnings on July 29th.




---

Standard Microsystems - SMSC - close: 18.33 change: -0.28

WHAT TO WATCH: SMSC is another semiconductor stock that is not
seeing any signs of a bounce.  Shares recently round-number,
psychological support at the $20.00 mark and its P&F chart looks
very bearish.  One caveat - SMSC is nearing a trendline of lower
lows that could be support.





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

FNM     Fannie Mae                 71.17    +0.21
UNH     Unitedhealth Group Inc.    62.41    +0.42
NSANY   Nissan Motor Co Ltd (ADR)  21.63    -0.57
KMB     Kimberly Calrk Corp        66.13    +0.16
FRE     Freddie Mac                65.85    +0.62
WLP     Wellpoint Health Network  113.62    +0.72


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

NARA    Nara Bancorp Inc           18.62    +0.12
OPTN    Option Care Inc            17.24    +0.53
TRMM    TRM Corporation            16.70    +0.26


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

AET     Aetna Inc New              86.57    +0.14
COL     Rockwell Collins Inc       35.42    +0.41
PMI     PMI Group Inc.             43.70    +0.52
FAST    Fastenal Company           60.30    +0.67
RDN     Radian Group               48.65    +0.05


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

STT     State Street Corp          44.62    -0.33
AGN     Allergan Inc               77.00    +0.25
KLAC    Kla-Tencor Corp            40.22    -3.11
DST     DST Systems Inc            44.69    -0.06
JBLU    Jetblue Airways Corp       24.88    -0.64


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

BLK     Blackrock Incorporated     64.55    -0.17
APL     Atlas Pipeline Prtnrs Lp   35.00    -0.52


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

*****************************************************************
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Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

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





PremierInvestor.net Newsletter                Wednesday 07-14-2004
                                                    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:  FRED, IMOS, VISG, FLML

Net Bulls (Tech Stocks)
  New Bearish Plays:    BOBJ, CCBL


High Risk/Reward
  New Bearish Plays:    SINA
  Closed Bearish Plays: SOHU


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

FRED - non-tech short play -
 Lower stop from $21.51 to $20.76
 We're moving the stop to the simple 50-dma.

---

IMOS - high risk/reward short play -
 No change in stop but traders might
 want to consider taking some profits
 now that IMOS is down 18% from our
 picked price.

---

VISG - high risk/reward short play -
 No change in stop at $8.01 but VISG did
 break support at the $7.00 mark intraday.
 More conservative traders might want to
 consider tighter stops.

---

FLML - high risk/reward short play -
 No change in stop at $22.06 but the rebound today
 looks dangerous.  Set a mental note to
 be ready to exit if FLML trades above 21.00
 or 21.50.


==================================================================
Net Bulls (NB) Tech Stock section
==================================================================

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

  New Bearish Plays
  -----------------

Business Objects - BOBJ - close: 20.04 chg: -0.26 stop: 21.01

Company Description:
Business Objects is the world's leading business intelligence
(BI) software company. Business intelligence enables
organizations to track, understand, and manage enterprise
performance. The company's solutions leverage the information
that is stored in an array of corporate databases, enterprise
resource planning (ERP), and customer relationship management
(CRM) systems. (source: company press release)

Why We Like It:
Software stocks have been huge under performers and for good
reason.  Several companies in the group, especially enterprise
software, have issued earnings warnings.  Investors are growing
more cautious on BOBJ over concerns that the company could warn
or merely miss estimates when it reports earnings on July 28th.

France-based BOBJ trades on the NASDAQ as an ADR and tends to gap
open up or down every day as it adjusts to trading overseas on
the French stock exchange.  That may turn off some traders.  Make
sure you're comfortable with that level of volatility.
Technically the stock appears to be in a wide, descending channel
while its MACD is in a sell signal.  Its P&F chart is bearish and
points to a $15.00 target.  That doesn't seem to be too far off
the mark.

Here's our plan.  We only want to go short if BOBJ trades at or
below our TRIGGER point of $19.80.  It's very possible BOBJ could
gap below this level.  Our target will be the $16.00-15.00 range
with an initial stop loss at $21.01

Annotated Chart:



Picked on July xx at $xx.xx <-- see TRIGGER
Gain since picked:   + 0.00
Earnings Date      07/28/04 (confirmed)
Average Daily Volume:    933 thousand



---

C-COR.net - CCBL - close: 8.34 chg: -0.44 stop: 8.51

Company Description:
C-COR is a top-tier global provider of optical packet and digital
video transport communications products; end-to-end fiber-to-the-
premise systems; comprehensive OSS solutions; and high-end
technical outsourced field services--all supporting cost-
effective delivery of voice, video, and high-speed data over
advanced broadband networks. Headquartered in the U.S. with
facilities worldwide, C-COR's mission is to provide our customers
with second-to-none network integrity throughout the full network
life cycle. C-COR's common stock is listed on the Nasdaq National
Market (Symbol: CCBL) and is a component of the Russell 2000
Stock Index.  (source: company press release)

Why We Like It:
We're adding CCBL to the play list as a relative weakness-
breakdown play.  The stock has been consolidating sideways
between $8.00-10.00 for more than two months.  The recent
breakout attempt over $10.00 failed and now shares are slipping
toward major support at $8.00.  A breakdown here could lead to a
decline towards the $5.00-$6.00 range.  The P&F chart is all over
the map with a recent sell and buy signal following each other
but the prevailing trend is obviously down.  Investors don't seem
to be buying the analysts' comments that demand for networking
solutions is going to pick up in the next several months.

Our plan is to only go short if CCBL breaks down through support
at the $8.00 mark.  We will use a TRIGGER at $7.95 with an
initial target of $6.00.  Once triggered we'll use a stop loss at
$8.51.

Annotated Chart:



Picked on July xx at $xx.xx <-- see TRIGGER
Gain since picked:   + 0.00
Earnings Date      08/19/04 (confirmed)
Average Daily Volume:    621 thousand




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

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

  New Bearish Plays
  -----------------

Sina Corp - SINA - close: 26.18 change: +0.36 stop: 28.01

Company Description:
SINA Corporation  is a leading online media company and value-
added information service (VAS) provider for China and for global
Chinese communities. With a branded network of localized web
sites targeting Greater China and overseas Chinese, SINA provides
services through five major business lines including SINA.com
(online news and content), SINA Mobile (mobile value-added
services), SINA Online (community-based services and games),
SINA.net (search and enterprise services) and SINA E-Commerce
(online shopping and travel). Together these provide an array of
services including region-focused online portals, mobile value-
added services, search and directory, interest-based and
community-building channels, free and premium email, online
games, virtual ISP, classified listings, fee-based services, e-
commerce and enterprise e-solutions. (source: company press
release)

Why We Like It:
We just wrapped up a successful short on SOHU so we're going to
try our luck with another one on SINA.  It's been a rough couple
of weeks for SINA.  The stock fell through support at $35.00 and
its 40 and 50-dma's at the end of June while also breaking down
from a bear-flag pattern.  SINA has already reached the bear-flag
target while being dragged lower after fellow Chinese Internet
NTES issued a revenue warning about a week ago.  Since then we've
seen SINA struggle to rebound despite being so heavily oversold.
The stock has found new resistance at the $28.00 level while
we're seeing new lower lows over the last few days.

We feel there is an opportunity here because SINA is at crucial
support near $25.00.  A breakdown under $25.00 would be extremely
bearish on its daily, weekly and P&F charts.  However, SINA is
not without risk.  Here are our main concerns: SINA is a Chinese
Internet and the group has been very volatile.  There is a risk
that all the rumors about YHOO making a merger play for SINA
could come true.  There is a risk of a short squeeze with short
interest about 25% of the float.  Plus, we only have two weeks
before SINA's earnings report and at this time we would not hold
over the announcement.

Here's our plan.  We will ONLY suggest shorts if SINA trades at
or below our TRIGGER at $24.95.  If triggered we'll use a stop
loss at $28.01  Our target is the $18-$20 range.

Annotated Chart:



Picked on July xx at $xx.xx <-- see TRIGGER
Gain since picked:   + 0.00
Earnings Date      07/27/04 (confirmed)
Average Daily Volume:    5.2 million




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

  Closed Bearish Plays
  --------------------

Sohu.com - SOHU - close: 16.28 change: +0.41 stop: 16.76

We're not sure what fueled the bullish bounce in the Chinese
Internets today unless it was news that NTES' CEO was returning
to the company after a medical leave of absence.  SOHU could have
traded higher in sympathy to NTES.  The intraday high today in
SOHU was $16.81 and that was enough to stop us out at $16.76 for
a drop of $4.38 or 20 percent from the picked priced.  SOHU is
very oversold and overdue for a bounce so we're not surprised
that shorts are nervous.  Readers have had multiple opportunties
to exit at our original target of $16.00 and we applaud anyone
able to exit on the dips toward the $15.60 level.  Look for our
new aggressive play on SINA tonight.

Picked on June 20 at $21.14
Gain since picked:   - 4.86
Earnings Date      07/28/04 (confirmed)
Average Daily Volume:   3.0 million




=================================================================
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.
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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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Littleton, CO 80163

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