PremierInvestor.net Newsletter Thursday 07-15-2004 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: No Surprise Yet Market Sentiment: No Conviction Watch List: Chips, Natural Gas and more ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 07-15-2004 High Low Volume Adv/Dcl DJIA 10163.16 - 45.60 10235.65 10162.94 1.70 bln 1686/1426 NASDAQ 1912.71 - 2.20 1925.76 1910.13 1.64 bln 1479/1512 S&P 100 537.88 - 3.91 542.81 537.84 Totals 3165/2938 S&P 500 1106.69 - 4.78 1114.67 1106.60 W5000 10792.14 - 29.38 10861.07 10790.07 SOX 418.53 - 2.20 425.49 416.75 RUS 2000 562.16 + 2.42 564.35 559.74 DJ TRANS 3125.39 + 40.20 3141.32 3084.24 VIX 14.71 + 0.95 14.73 13.60 VXO (VIX-O)15.73 + 0.71 15.75 14.96 VXN 21.68 + 0.04 22.14 20.96 Total Volume 3,603M Total UpVol 1,531M Total DnVol 1,985M Total Adv 3536 Total Dcl 3364 52wk Highs 148 52wk Lows 181 TRIN 1.61 NAZTRIN 1.13 PUT/CALL 0.83 ================================================================= =========== Market Wrap =========== No Surprise Yet by Jim Brown As the earnings momentum increases the markets continue to trade sideways as investors hold their breath expecting big surprises. So far those surprises have not appeared and we are seeing earnings much like the economics, mixed. After the close today we had an almost equal amount of earnings warnings, earnings misses and companies beating the street. Dow Chart Nasdaq Chart SPX Chart Recent economics have resembled a box of chocolates, you never know what you are going to get. It started with the Jobless Claims this morning spiking to 349,000 once again and completely erasing the one week drop to 309K last week. Continuing claims moved closer to the three million market with a jump to 2,971,000. While the government and analysts speculated that last weeks low number was an anomaly, nobody expected a jump right back to the 350K level. Last weeks low number is being attributed to incorrect July-4th seasonal adjustment factors. The jump this week is being attributed to a shutdown in automakers to retool for the 2005 production year. Most notable for me is the flat trend for claims. They have quit falling over the last six weeks and have stabilized just under the 350K level. This is troubling but it could be just the summer doldrums of hiring. Business Inventories rose a smaller than expected +0.4% in May. Retail inventories were flat for the month and the first time they have not risen since August 2003. Concern about the direction of the economy and early warning signs about the slowing consumer trend probably kept retailers from stocking up. Business Sales rose +0.7% and when coupled with low inventory levels keeps exposure to potential economic risks at a minimum. The inventory to sales ratio remained at its record low of 1.30 for the third month. That means there is only 1.3 months of inventory on hand. Any further increase in sales should force a continued uptick in manufacturing or eventually there will not be any product to sell. The NY Empire Manufacturing Survey jumped to 36.5 from 29.9 in June. This was well over consensus estimates of only 28.3. Shipments, orders and back orders all posted large gains. Even employment eked out a small gain. Unfortunately Prices Paid rose while Prices Received dropped. This shows inflation pressures building but could also be a reflection of higher energy prices. The Philly Fed Survey jumped to 36.1 from 28.9 and echoed the same theme as the NY Survey. This was well above consensus estimates of 26.3. Employment in the Philly Survey jumped to a very strong 24.6 from 16.8. The various Fed surveys have been mixed of late. Different regions are showing different stresses and this is normal for a slow growth environment. The current expansion signals are very positive for future non inflationary growth. The main inflation gauge for this week the PPI posted a surprising -0.3% drop. This was directly related to the drop in oil prices last month and this is good news for the Fed. Unfortunately with the oil spike to $41 this week this brief drop in the PPI may not last. This report produced a spike in the futures on the headline number but that spike did not hold once the cash market opened. There were lots of positive internals but they were mostly related to the drop in oil so I will not dwell on them. More important to the economic picture was the drop in Industrial Production by -0.3% when expectations were for a small gain. May's gains were also revised down slightly. Capacity Utilization dropped to 77.2, a drop of -0.4% from the prior month. Consumer goods production dropped -0.7%. This does not bode well for the retail inventory buildup I discussed above. For the Fed this was a very good day. Headline inflation falling and manufacturing still expanding but enough slack in the industrial production to prevent a resumption of that inflation any time soon. The chances for a 50 point rate hike in August have dropped to only 15% according to the Fed Fund futures and this is a statistically insignificant chance. There is still a good chance for a 25 point hike in August and that meeting is only three weeks away. Sure seems like we just had one but that is what the calendar is saying. Time sure flies when you are having fun. The big news for the day was earnings and Nokia headed the morning list with another warning that future profits were threatened by increased competition, lower prices and a lack of popular new models. Nokia has been the poster child for the problems in the cell phone industry of late and today's whining is no different. Yes, we know it is a tough market and the easy money has been made. Suck it up and forge ahead. The other market mover was oil topping $41 a barrel this morning and the cancellation of the OPEC meeting next week. They instead believe they can implement the increase in production without impacting prices. Let's see. They are already pumping well over their stated levels even after the "formal" production increase. Oil prices are $41 today and rising despite this increase in production. It does not take a rocket scientist to figure out that the "proposed" increase already in effect will not impact prices. Yep, no reason for a meeting. After the close today the big numbers came from IBM which posted earnings that beat the street by +4 cents. This should have produced a rousing reception but the lukewarm guidance poured cold water on the flames. IBM repeated its guidance word for word from the previous quarter saying "analysts estimates were reasonable." They were right on the mark on their revenue with only a miniscule miss of $20 million on total revenue of a whopping $23.15 billion. They said spending was continuing to improve led by growth in emerging markets like China. I am not normally a fan of IBM earnings due to the game they play each quarter. Like other quarters they bought back $1.3 billion in shares which raises their earnings per share. They also received a currency benefit of 2-7% depending on the division and type of sale. Still IBM did post an increase in revenue, profits and said they expect margins to improve going forward. There was nothing really negative in this report. This alone may not be enough to produce an earnings bounce on Friday but there is nothing here to really push us lower. Helping the markets in addition to the IBM news was earnings wins for PMCS and RMBS after the bell. PMCS beat by a penny and RMBS by two cents. PMCS talked up the future prospects but suggested that summer revenue could be flat to +7% for the quarter. PMCS fell about -50 cents in after hours but the overall outlook was very positive. Offsetting the PMCS weakness was RMBS which doubled its earnings and grew revenue by +20% to a new record. Rambus was bubbling with excitement and the stock jumped about +12% in the after hours session. The reason I am thinking we could see a relief rally tomorrow is two fold. First we had a fear of IBM crash at the close where the major indexes tanked as investors bailed rather than be long over their earnings. This created an artificial oversold bias. Secondly, IBM, PMCS and RMBS were all making bullish comments about chips. Considering the two day drop in the SOX to 420 support any good news should be a reason for a rebound. The SOX is very oversold and due for a rebound off that 420 support which dates back to September of last year. In addition to the IBM comments about spending increasing we had the CEO of Eaton (ETN) saying this was the strongest economy on all fronts he had seen in years. Eaton is a diverse manufacturer and like GE they are saying business is good. Offsetting that warm feeling was NFLX, which missed estimates by -2 cents and failed to impress investors with their story. The stock dropped -$4 in after hours. HOTT warned after the close but that is old news as we already know the retail sector is under pressure. SOX Chart The drop in the SOX and fear of IBM sent the Dow back to its monthly lows at 10162 just before the close. It did not recover. This is a little more than -20 points below its 200dma at 10189 and right on the edge of a real breakdown. It is time for the bulls to make a stand if they are going to rescue the markets from a retest of the May lows this summer. The Nasdaq has slowly inched down to its lowest close of the month at 1912 but it appears the decline is slowing as we near support at 1900. I have speculated before that 1900 would be a good bottom for a summer trading range and I would really like to see a relief rally on Friday give us a little more breathing room before the Democratic convention on the 26th. Our best chance of a rebound comes from the SPX which is about to test its 200dma at 1102 after closing at 1106 on Thursday. This is a critical test of market support and one that should hold. The S&P futures hit 1102.50 in after hours and have rebounded slightly already. We may need the cash test to trigger the buy programs (speaking optimistically here) and that could come at Friday's open. It is an option expiration day and sharp volatility at the open could be the key to the test. The focus on Friday will be on Martha Stewart and the betting line is 10 months in a minimum security prison. The sentence will be given at 10:00 tomorrow and you can bet all eyes will be watching whether they really care about the outcome or not. Volume on Wednesday's Intel led dip soared to 4.239B across all markets. This was the highest volume since June-25th and the Russell rebalance. Unfortunately it was 2:1 negative. Thursday's volume was only slightly lower at 3.651B but the ratio was only slightly negative. New 52-week highs have been rising daily since last Friday's low. That low capped a two-week slide since June 23rd. What I am suggesting is that the internals are not quite as negative as the indexes and we could easily rebound from the IBM dip at the close. However, with the Dow teetering on the cliff at 10162 this is a do or die situation. A failure to rally here could setup a quick retest of Dow 10000 or even the May lows at 9900. The major problems still ahead are the Democratic convention only one week away. I believe any rally will be short lived as investors take protective positions ahead of that event. Earnings will continue to increase next week and there will be plenty of companies to cuss and discuss. The setup for Friday sees markets at their lows and right at critical levels. It would be a good place for a major move in either direction and I am hoping it is up but ready to react in either direction. I suggest you do the same. Enter Passively, Exit Aggressively. Jim Brown Editor =============================== Market Sentiment =============================== No Conviction - J. Brown We appear doomed to watch stocks slowly slip away or at best remain within their trading range. Wall Street is turning up its nose to lackluster economic reports while investors seem to be focusing on the earnings misses and not the earnings hits. Nokia (NOK) was the big disappointment this morning with a sales shortfall due to rising competition in the handset market. Yet we saw individual stock gains in flash memory maker SanDisk (SNDK) and iPod wonder Apple Computer (AAPL) after their impressive earnings numbers but it wasn't enough to juice up the technology sector. Traders were too worried that Big Blue might miss when it announced after the close. Fortunately, IBM managed to beat analyst profit estimates but revenues came in a little light and could spoil investors' reaction. What I find strange is that the Industrials have been slowly fading lower throughout the month while the NASDAQ Composite is down more than 6.5 percent for the month yet the volatility indices continue to hover near their lows when they should be climbing. Another technical/sentiment indicator the TRIN or ARMS index is showing several moving averages near bullish levels, which should coincide with the market's short- term oversold status. Maybe the Dow needs to hit 10,000 and the NASDAQ needs to hit 1900 before investors feel brave enough to buy the dip. On the other hand a breakdown below these psychological levels could lead us into a very bearish third quarter for stocks. We don't have any super big earnings reports tomorrow so Wall Street will focus on the CPI and Michigan Sentiment economic reports due out tomorrow. Oh, I'm sorry, what was I thinking? The financial media is going to focus on the Martha Stewart sentencing (as if it matters). ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 8996 Current : 10163 Moving Averages: (Simple) 10-dma: 10250 50-dma: 10228 200-dma: 10193 S&P 500 ($SPX) 52-week High: 1163 52-week Low : 960 Current : 1106 Moving Averages: (Simple) 10-dma: 1115 50-dma: 1117 200-dma: 1103 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1204 Current : 1415 Moving Averages: (Simple) 10-dma: 1443 50-dma: 1448 200-dma: 1445 ----------------------------------------------------------------- CBOE Market Volatility Index (VIX) = 14.71 +0.95 CBOE Mkt Volatility old VIX (VXO) = 15.73 +0.71 Nasdaq Volatility Index (VXN) = 21.68 +0.04 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.83 935,067 771,837 Equity Only 0.62 708,886 436,307 OEX 1.51 34,399 51,887 QQQ 1.22 37,454 45,693 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 64.8 - 1 Bear Confirmed NASDAQ-100 45.0 - 3 Bull Alert Dow Indust. 66.7 + 0 Bear Confirmed S&P 500 60.4 - 1 Bear Correction S&P 100 62.0 - 2 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: 1.28 10-dma: 1.74 21-dma: 1.36 55-dma: 1.17 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 1497 1506 Decliners 1272 1499 New Highs 102 37 New Lows 39 97 Up Volume 663M 736M Down Vol. 1033M 839M Total Vol. 1712M 1629M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 07/06/04 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 Commercial traders continue to sit tight without much change in their bearish sentiment. Retail traders aren't changing their bullish tune much either but they have grown a bit more optimistic Commercials Long Short Net % Of OI 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%) 07/06/04 402,952 416,526 (13,574) (1.7%) 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 06/15/04 169,595 115,336 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% 07/06/04 132,423 90,748 41,675 18.7% 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 Now we are seeing some money shuffling in the e-minis. Commercial traders have reduced their shorts and raised their long positions but remain overwhelmingly bearish. Small traders have pared back their bullish sentiment. Commercials Long Short Net % Of OI 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%) 07/06/04 287,442 423,583 (136,141) (19.1%) 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 06/15/04 216,759 147,247 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% 07/06/04 219,321 58,567 160,754 27.9% 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 remain somewhat bullish on the NASDAQ 100 but only by a small margin. Small traders are much more bearish on technology. Commercials Long Short Net % of OI 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% 07/06/04 42,245 37,343 4,902 6.2% 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 06/15/04 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%) 07/06/04 9,345 16,527 (7,182) (27.8%) 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 Commercial traders continue to snooze with little change in their Dow Jones Industrials positions. Small traders have reduced their bearish attitude some but remain negative. Commercials Long Short Net % of OI 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% 07/06/04 27,214 20,775 6,439 13.4% 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 06/15/04 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%) 07/06/04 5,969 8,227 (2,258) (15.9%) 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 --------------------------------- Chips, Natural Gas and more Advanced Micro Devices - AMD - close: 12.97 change: -0.77 WHAT TO WATCH: Investors were not impressed with AMD's earnings report and sent shares lower for a 5.6 percent drop on huge volume. The move broke huge support at the $13.50-13.00 levels and produced a major sell signal on its P&F chart, which currently points to a $9.50 target. AMD could bounce back toward the $13.50 level but if it starts to fade we'd consider new shorts with a $10.00 target. Bears might consider momentum entries on a move through today's low at $12.60. --- Masco - MAS - close: 31.31 change: +0.74 WHAT TO WATCH: After three weeks of consolidating the gains from its May-June rally MAS finally broke out to the upside. Today's 2.4 percent gain was fueled by very strong volume. We might consider new bullish positions on a breakout above $31.50 but keep an eye on its all-time highs back in the 1998-1999 timeframe at the $33.00 area. It could be overhead resistance. Meanwhile the P&F chart points to a $60 target. --- Williams Cos - WMB - close: 12.30 change: +0.10 WHAT TO WATCH: Investors remain bullish on energy stocks and several natural gas stocks have been outpacing their oil-related brethren. We might consider bullish positions on WMB if it can breakout over the $12.45-12.50 levels. Currently WMB's P&F chart has been churning through overhead resistance near the $11.50 level but it has managed to breakout. Its P&F target is $ 19.50. ================================================================= 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 07-15-2004 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: VISG Stock Splits: IMGC, IVX, VLO, ZBRA 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 ================================================================= VISG - high risk/reward short - Exit Alert! VISG fell another 4.79 percent today and closed soundly below the $7.00 mark. VISG is within 25 cents of our EXIT point at $6.50. We're suggesting readers prepare to exit for a profit. We're lowering the stop from $8.01 to $7.16 ================================================================= Stock Splits ================================================================= Announcements ------------- IMGC magnetizes shares with a 3-for-2 stock split Before today's opening bell Intermagnetics General Corporation (NASDAQ:IMGC) announced that its Board of Directors had approved a 3-for-2 stock split of its common shares in the form of a 50% stock dividend. The payable date for the stock split is August 17th, 2004 to shareholders on record as of July 23rd. Intermagnetics will have approximately 34 million shares on a post split basis. About the company: Intermagnetics (http://www.intermagnetics.com) draws on the financial strength, operational excellence and technical leadership in its expanding business of Medical Technology that encompasses Magnetic Resonance Imaging Systems & Components and Patient Monitoring. Intermagnetics is also a key supplier to the markets within Instrumentation and has become a prominent participant in superconducting applications for Energy Technology. The company has a more than 30-year history as a successful developer, manufacturer and marketer of superconducting materials, high-field magnets, medical systems and components and other specialized high-value added devices. (Source: Company Press Release) --- IVX perscribes 5-for-4 stock split to shareholders Near the end of today's trading session IVAX Corporation (AMEX:IVX) announced that its Board of Directors had approved a 5-for-4 stock split of its common shares in the form of a 25% dividend. The payable date for the stock split is August 24th, 2004 to shareholders on record as of August 10th. This is IVX's first stock split since the middle of 2001. About the company: IVAX Corporation, headquartered in Miami, Florida, discovers, develops, manufactures, and markets branded and brand equivalent (generic) pharmaceuticals and veterinary products in the U.S. and internationally. (Source: Company Press Release) --- VLO refines shares with a proposed stock split and dividend increase. During today's trading session Valero Energy Corporation (NYSE:VLO) announced that its Board of Directors had approved a 2- for-1 stock split of its common shares, to be effected in the form of a stock dividend. However, this is subject to shareholder approval in a special meeting tentatively planned for the third quarter. In addition to the proposed stock split, VLO management plans to recommend an increase in their quarterly dividend of $0.075/share to $0.08/share, to the Board of Directors. About the company: Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 20,000 employees and annual revenues of around $50 billion. The company owns and operates 15 refineries throughout the United States, Canada and the Caribbean. Valero's refineries have a combined throughput capacity of approximately 2.5 million barrels per day, which represents approximately 12 percent of the total U.S. refining capacity. Valero is also one of the nation's largest retail operators with more than 4,500 retail outlets in the United States, Canada and the Caribbean under various brand names including Diamond Shamrock, Shamrock, Ultramar, Valero and Beacon. For more information, please visit www.valero.com. (Source: Company Press Release) --- ZBRA prints out a 3-to-2 stock split. After today's closing bell Zebra Technologies Corporation (NASDAQ:ZBRA) announced that its Board of Directors had approved a 3-for-2 stock split of its common shares in the form of a 50% stock dividend. The payable date for the stock split is August 25th, 2004 to shareholders on record as of July 29th. Fractional shares will be paid in cash. Zebra will have approximately 71.6 million shares on a post split basis. ZBRA last split its stock 3:2 on August 21, 2003. About the company: Zebra Technologies Corporation delivers innovative and reliable on-demand printing solutions for business improvement and security applications in 90 countries around the world. More than 90 percent of Fortune 500 companies use Zebra-brand printers. A broad range of applications benefit from Zebra-brand thermal bar code, "smart" label, receipt, and card printers, resulting in enhanced security, increased productivity, improved quality, lower costs, and better customer service. The company has sold more than three million printers, including RFID printer/encoders and wireless mobile solutions, and also offers software, connectivity solutions, and printing supplies. Information about Zebra Technologies can be found at http://www.zebra.com . (Source: Company Press Release) ================== 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 71.80 +0.54 UTX United Technologies 91.00 +1.16 UNH United Health 65.71 +3.81 COP ConocoPhillips 78.92 +0.82 CAT Caterpillar Inc 79.40 +0.62 CFC Countrywide Financial 72.75 +1.13 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- FCS Fairchild Semiconductor 14.50 +1.49 CY Cypress Semiconductor 12.00 +1.03 MCS Marcus Corp 18.99 +3.04 VOXX Audiovox Corp 17.29 +1.56 VTIV Ventiv Health 16.11 +1.33 PLNR Planar Systems 14.09 +2.03 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- AAPL Apple Computer 32.93 +3.35 RIG Transocean Inc 30.06 +1.09 WFT Weatherford Intl Ltd 46.95 +1.10 EXPD Expeditors 50.41 +1.17 ACV Alberto-Culver 50.49 +1.69 RI Ruby Tuesday 29.55 +1.91 PPDI Pharma. Prod. Dev. 35.34 +5.69 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- PFE Pfizer Inc 32.58 -1.43 PEP Pepsico Inc 51.92 -1.49 UBS UBS Ag 66.66 -2.33 DB Deutsche Bank 72.26 -1.60 PGR Progressive Corp 79.00 -2.50 TRB Tribune Co 42.00 -1.12 HET Harrah's Entertainment 47.91 -3.07 RSH Radioshack 26.90 -1.22 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- RS Reliance Steel 41.00 -0.62 ================================================================= 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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