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Daily Newsletter, Sunday, 07/18/2004

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PremierInvestor.net Newsletter          Weekend Edition 07-18-2004
                                                    section 1 of 3
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:       Five Months
Market Sentiment:  Bulls Can't Get A Break
Watch List:        Wood, Chips and more!

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
        WE 7-16         WE 7-09         WE 7-02         WE 6-25
DOW    10139.78 - 73.44   10213 - 69.61   10282 - 89.01 - 44.57
Nasdaq  1883.15 - 63.18 1946.33 - 60.33 2006.66 - 18.81 + 38.74
S&P-100  535.90 -  6.73  542.63 -  4.54  547.17 -  2.58 -  5.06
S&P-500 1101.40 - 11.41 1112.81 - 12.57 1125.38 -  9.05 -  0.57
W5000  10731.86 -110.82   10842 -154.87   10997 - 76.05 + 39.48
SOX      410.46 - 40.68  451.14 -  6.17  457.31 - 21.60 + 25.83
RUT      555.48 -  8.25  563.73 - 18.99  582.72 -  4.98 + 17.16
TRAN    3088.33 +  0.36 3087.97 - 58.20 3146.17 - 18.01 + 95.61
WE = week ending
=================================================================

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

Five Months
by Jim Brown

We have been trapped in this trading range for five months
but it appears we may be in for a change of confinement.
Instead of sitting in our cells staring at walls of charts
that never move we may be in for a change of scenery. That
change of scenery may include a lot more red if the current
market sentiment continues to decline.

Dow Chart


Nasdaq Chart




The markets roared out of the gate on the IBM earnings,
Dell guidance and a tame expected CPI. That opening blast
failed to hold and before the day was out we were trading
at new lows for the month. Welcome to July.

The market positive CPI at only +0.3% sent bonds soaring
on thoughts the Fed was on hold for the near future. The
CPI headline number was actually a little higher than
most analysts expected but only due to higher energy
prices. The core rate was only a minimal +0.1% for those
who don't use food and energy. Considering energy prices
are +17% higher than they were this time last year it is
amazing that the current annual headline inflation rate
is only +3.3%. Core inflation on an annual basis is only
1.9% and very tame. Raising the CPI for June was another
+3.1% jump in gas prices after a +8.1% jump in May. With
oil nearing $42 today the odds are good we will another
jump in the July report.

In the continuing saga of manufacturing surveys the
California numbers were announced today. The headline
number at 61.6 was still strong but well below the 66.9
high in the prior report. Unlike the other monthly
surveys this is a quarterly update. Still the same
trends we have seen in the others continued to appear
in the CA report. Production slowed to 65.3 from 71 and
New Orders fell to 58.4 from 71.3. Employment also
slipped slightly. These numbers are still in expansion
territory but indicate declining growth in the second
quarter.

The only other economic report Friday was the first take
on the July Consumer Sentiment. The headline number
barely moved at 96.0 from June's final at 95.6 but it
was the highest level seen since January's 103.8. May
saw the low for the year at 90.2 and this represents
two months of gains if it holds through the next update.
The present conditions component fell -2 points to 104.6
and the future expectations component rose +2 points to
90.4. Gas prices were given as the most negative input.

Don't look now but oil prices are still climbing. Oil
neared $42 once again and is showing no signs of easing.
The global demand continues to increase and OPEC is
already pumping at almost full capacity. This is a
recurring nightmare for consumers and becoming a very
large cloud on the future of earnings for corporations.
Recently the stock market has traded opposite the oil
market and today was no different. Keep your eye on oil
prices next week as we could see a new high.

Oil Chart



The combination of economics and high oil prices sent
bonds soaring to two month highs. The yield on the ten
year fell to 4.361% which is very good for the home
builder sector. They may get one more really good summer
selling season after all. The drop in the CPI and the
mixed economics all week sent the Fed funds futures
even lower and we are very close to dropping one of the
three remaining rate hikes that had been projected this
year. The August hike is still on the table but one of
the later hikes is on the verge of disappearing. The
Fed has been exceptionally quiet the last two weeks but
that will change soon. Greenspan gives what was formerly
known as the Humphrey Hawkins testimony before the House
and Senate committees on both Tuesday and Wednesday. I
expect that interest rates and the softness in the
economy will be high on the list for the Q&A session.
The dollar hit a four month low on Friday despite strong
assurances from the administration they support a strong
dollar policy. Obviously talk is cheap.

Ten-year Yield Chart



The markets opened higher on the strength of IBM
earnings but that bloom quickly wilted. IBM rose as
high as 86.50 but slowly dropped into the close at
84.40. Good news simply does not last past the first
coffee break in the current market.

Dell added to the opening excitement by raising guidance
by +2 cents and jumped nearly +$1 at the open. Dell said
those better earnings came from a better tax rate and
cost savings on components. Revenue guidance stayed the
same and that blunted the positive earnings news. Dell
gapped up almost $1 but kept only half that amount at
the close. First, traders do not really care about the
tax rate because it does not apply to growing sales.
Second, lower prices on components suggests there is
lower demand for components and could means weakness
in the overall sector despite the Dell gains. In some
cases gift horses really do have bad teeth.

I'll be back! Martha Stewart repeated those words twice
ala Terminator style at a press conference after she was
sentenced. The domestic diva managed to turn an apology
speech into a sales pitch for advertisers and customers
while standing on the court steps. The blatant sales
pitch just moments after being sentenced to five months
in prison, five months under house arrest and two years
probation was a little too much for some people. Most
wanted her to just say I am sorry and get the sentence
over so life at Martha Stewart Living could get back
to normal. There was nothing normal about the action
in MSO stock. Volume was about 50 times normal and it
spiked from yesterday's close at 8.73 to a high of
$12.29 and close at 11.81. The lighter than expected
sentence and the prospect of putting the whole affair
to bed brought the bargain hunters back to shop. Had
you bought the July $10 call for its 10 cent close on
Thursday it would have been the home run for the month
with a close at $1.90 on Friday and high of $2.30.

Despite IBM, DELL and MSO the markets still had trouble
holding down breakfast. Good news does not stick any
longer than hair spray in a Houston wind and the sellers
appeared once again. A study out Friday morning showed
foreign investors had been net sellers for the last
three months and the selling was continuing. This is
confounding analysts given the very respectable earnings
we have seen so far this cycle. With 77 S&P companies
already reported, a whopping 75% have beaten estimates,
19% reported inline and only 6% have missed estimates.
If the current rate and quality of earnings continue
we will post the fourth consecutive quarter of +20%
gains. This would be only the fifth time ever that the
market has seen a string of earnings this good. The
earnings parade continues next week with a huge number
of reporters. 170 S&P companies report along with
hundreds of smaller ones. We will have a much better
view of the future once those firms give guidance.

So why are the gains not translating into a market
rally? There are two main reasons and a bunch of little
ones. The two biggest culprits are future expectations
and event risk. Even the most optimistic expectations
for 2005 earnings is only +10% for the entire year. Not
10% per quarter but for the entire year. This is a very
big letdown from the high numbers we have been posting
and the market is having trouble digesting the future
outlook with a string of high risk events in our near
future.

I have mentioned it before and will not dwell on it but
the Democratic convention begins next week on July 26th.
This is the first high risk event followed by the
Republican convention and the Olympics over the next
60 days. These are prime terrorist targets and at this
point it make no difference if any attacks are even
contemplated. It is pure risk avoidance coupled with
decelerating earnings that is driving investor flight.

Fly they did. For the week semiconductors ended down
-9% but they are down -15.6% for the month. I missed
the fire alarm on semis on July 1st but evidently I
was the only one. The SOX closed at 411 on Friday and
well below the 420 support range. The bottom has fallen
out of the sector despite some positive earnings reports.
Next real support is 375-385. There is a fire sale in
progress and there will be some real bargains once the
smoke clears. October is normally the buying season
for semi stocks and that seems a long way off today.
Next week we will get the Semi Book-to-Bill numbers
for June and a drop from the 1.11 in May could actually
accelerate the selling.

SOX Chart




With the SOX imploding the Russell-2000 never had a
chance and when comparing 2003 gains there is far more
profit waiting in the RUT than there was in the SOX.
The Russell rebounded +85% off the Jan-2003 lows and
has consolidated in the 560-590 range since Jan-2004.
That consolidation appears about to resolve itself to
the downside dragged down by the SOX. We saw a strong
fight at 560 support but that level caved in at the
close. In May there was a profit taking dip to 535-540
and we seem destined to visit that level again next week.

Russell-2000 Chart




Semis were not the only sector to get knocked for a
significant loss. Airlines dropped -10% for the week
as the price of oil soared. Retail continued to be
weak as earnings warnings in the sector continued.
ISI released a survey that showed sales in July were
actually weaker than June and suggested the consumer
had taken a real vacation from consuming.

There was some serious market damage done Friday but
despite the drops we are still clinging to the recent
range. I say clinging because the Dow has broken its
200dma at 10197 and support for the last two weeks at
10160. The close at 10140 was the lowest close since
May 26th. Since January we have fallen from the highs
twice to trade in the 10000 range with the May drop
the worst with an intraday spike to 9852 but a close
back over 10K. The lowest close was 9906 with multiple
closes in the 9950-10000 range. Considering the event
risk ahead I can easily see the Dow back at the 10K
level next week. Hopefully this will remain the bottom
of our range as it has since January.

Dow Chart - Weekly



The Nasdaq is a different story. It closed on Friday
at 1883 and right on the edge of a serious break. 1900
has been headline support since October with brief
periodic dips to around 1875 which were always quickly
bought. With the SOX and RUT imploding the Nasdaq is
falling faster than a twin engine plane with both
engines out. The 1900 level barely provided a speed
bump to Friday's drop and with the SOX and RUT both
under critical support it appears the Nasdaq could
easily hit that 1875 level that has been a buy trigger
for the last eight months.

The only index that held support on Friday was the
SPX at 1100. Actually the 200dma at 1103.66 provided
support most of the afternoon but we did see it
pierced right at the close when several late day sell
programs stacked on top of each other. The SPX is the
most critical of the indexes to support tests. The
SPX is the most widely followed index for funds and
the most widely program traded index. The 200dma is
a critical support level for this index. It has held
as support since April of 2003. This sets up a rebound
potential for Monday morning. Since it has such a strong
following and has been such strong support there should
be some technical buying on Monday. It had better be
strong because the S&P moving under the 200dma is also
a sell signal for many speculative funds. Not a dump
signal but a sign to lighten up. Should we move much
below 1100 it could begin to get ugly very fast.

Where are we going from here? How many times have we
said the markets are at a crucial point and the next
week would be pivotal? Consider it said again. The
next week is going to be hectic to say the least. We
have the Greenspan testimony on Tuesday (2:30) and
Wednesday (10:00). Fortunately there are no major
economic reports to provide negative sentiment and
the few numbers we will get should be market neutral.
We have over 500 companies reporting earnings but if
the current trend continues 65% of those will beat
the estimates. So far this cycle the number has been
75% but we know it declines as the cycle matures to
include the smaller companies. Unfortunately good
earnings news has failed to impress the market and
the fire exits are still flashing red.

The motivating event next week, besides Greenspan,
will the coming Democratic convention on July 26th.
The odds of a sustained rally are almost zero in
advance of that event risk but we could see a rebound
on Monday from our current SPX support level. I view
any early bounce as only a short entry for the rest
of the week. Hopefully the fear factor surrounding
the convention will be much ado about nothing but the
markets cannot afford to ignore it. This does bring
up the potential for the Fed's Plunge Protection Team
to suddenly appear with a couple buy programs in the
interest of protecting the markets from overactive
speculation. This is exactly the kind of crisis that
they were created for under the Reagan administration.

As for me I am going to be watching for an uptick in
the futures at the Sunday night open to see if the
SPX support at 1100-1103 will hold. If so I am going
to be Long in the Futures Monitor with plans on
reversing to short when any rebound fades. Conversely
a break under SPX 1100 will have me looking for a short
opportunity. This is one of those rare instances where
the dividing line is so clear. For next week remain
short below SPX 1100 and sell any rally over 1100 as
it fails.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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

Bulls Can't Get A Break
- J. Brown

July has been a very tough month for stocks.  You might remember
our comments a couple of weeks ago quoting the Stock Trader's
Almanac that July was the beginning of the worst four months of
the year for the NASDAQ.  I hope it doesn't get much worse.  The
NASDAQ composite is down 8% on the month.  Driving the move has
been a 15% drop in the semiconductor index, a 13% drop in the
software index, and a 12% drop in the networking index.

The airlines are also getting crushed with a 19% drop for the
month as crude oil prices have surged back above the $40.00 a
barrel mark.  Don't look now but they closed at $41.25 on Friday
and oil was bouncing higher into the closing bell.  The rising
price of oil affects all of us not just the airlines.
Manufacturers have to deal with the high cost of oil and
consumers are feeling the pinch at the gas pump.  Higher gasoline
prices impact consumer spending, which supports more than 2/3rds
of our economy.

It was only a month ago that the market was intensely focused on
the last week of June with the FOMC meeting and rate hike, the
Iraq transfer of power and the jobs report.  Investors were
hoping that once those events passed the markets would move from
their trading range.  The hope was that those three events would
pass without any negative surprises and we could rally into what
was supposed to be a strong Q2 earnings season.

Since then we've endured a painful parade of earnings warnings
but most of them have been tech stocks.  Despite the rash of
warnings earnings are actually coming in higher than estimates
with 75% of those S&P 500 components reporting beating
expectations.  Some of the tech bellwethers are doing okay.
Granted Intel's report wasn't glowing but IBM managed to beat
estimates, APPL turned in a stellar quarter (okay not a
bellwether) and DELL raised estimates on Friday.  Yet investors
aren't inspired by the numbers as they look ahead to tougher year
over year comparisons in the third and fourth quarters.  Economic
growth for the third quarter of 2003 was at twenty-year highs.
There's no chance we'll be able to repeat that any time soon.

Yet the economic picture isn't bad.  General Electric's CEO said
the economy was the best he'd seen in years.  Most of the
economic data coming out confirms that we're still expanding.
Investors are just dealing with news that growth is slowing.  We
should be cheering that the economy is climbing at a moderate
pace because it keeps the Federal Reserve to their "measured
pace" plan for future interest rate hikes.  Hmm.. if we're not
worried about the economy or rising rates what could it be?

How about the fact that the third quarter will host the
Democratic and Republican conventions and the Olympics in Greece.
All three are high-profile terrorist targets. After recent
announcements from the Department of Homeland Defense about
terrorists already in our country planning something big to
disrupt our election process and Greece's inability to get their
power grid up and running for the Olympics much less handle
security... well you can see that investors would be negligent if
they didn't consider the implications of such attacks and plan
accordingly with their money (a.k.a. move to the sidelines).

Next week should be interesting.  Not only is it the peak in the
Q2 earnings season with 173 S&P 500 components reporting earnings
but hundreds of smaller companies will also report.  Plus, we'll
hear plenty of "Fedspeak".  Here are some of the highlights for
next week's calendar.  On Monday we'll hear from Dow-component
MMM for their Q2 earnings.  Tuesday brings Philly Fed President
Santomero as he speaks on the economy while Dow-component Altria
Group (MO) reports earnings.  Tuesday afternoon Alan Greenspan
appears before the senate banking committee to answer questions
and give testimony on the country's economic outlook.  Wednesday
we'll hear from Dow-components Honeywell (HON), Merck (MRK),
Pfizer (PFE) and United Technologies (UTX).  Plus, Wednesday
morning will showcase Greenspan's appearance before the House
financial services committee who will no doubt lob tougher
questions at the chairman after seeing his responses on Tuesday.

Thursday proves to be a massive day for earnings with dozens of
announcements.  We'll hear from Dow-components American Intl
Group (AIG), Caterpillar (CAT), Coca-Cola (KO), McDonalds (MCD),
Microsoft (MSFT) and SBC Communications (SBC).  On Friday we'll
hear more talk about the economy and monetary policy from Chicago
Fed President Moskow.

In summary traders should consider caution to be the better part
of valor here.  It might be tempting to try and catch some of the
falling knives with tech stocks so oversold but such attempts to
pick a bottom usually end up with painful injuries.  This is
probably not the best environment for bullish strategies.


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

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  8996
Current     : 10139

Moving Averages:
(Simple)

 10-dma: 10221
 50-dma: 10221
200-dma: 10197


S&P 500 ($SPX)

52-week High: 1163
52-week Low :  960
Current     : 1101

Moving Averages:
(Simple)

 10-dma: 1113
 50-dma: 1117
200-dma: 1103


Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1204
Current     : 1392

Moving Averages:
(Simple)

 10-dma: 1433
 50-dma: 1447
200-dma: 1446


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

CBOE Market Volatility Index (VIX) = 14.34 -0.37
CBOE Mkt Volatility old VIX  (VXO) = 15.35 -0.38
Nasdaq Volatility Index (VXN)      = 20.94 -0.74


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

          Put/Call Ratio  Call Volume   Put Volume

Total          1.12      1,003,161     1,124,042
Equity Only    0.93        812,201       758,206
OEX            1.54         41,676        64,088
QQQ            6.68         23,937       160,011


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

Bullish Percent Data

           Current   Change   Status
NYSE          64.7    + 0     Bear Confirmed
NASDAQ-100    43.0    - 2     Bear Confirmed
Dow Indust.   66.7    + 0     Bear Confirmed
S&P 500       60.0    + 0     Bear Confirmed
S&P 100       63.0    + 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: 1.44
10-dma: 1.35
21-dma: 1.26
55-dma: 1.31


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    1368       895
Decliners    1414      2069

New Highs     102        26
New Lows       43       118

Up Volume    652M      245M
Down Vol.   1050M     1482M

Total Vol.  1712M     1741M
M = millions


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

Commitments Of Traders Report: 07/13/04

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

Not much movement going on in the Commercial traders' positions
for the large S&P futures contracts.  They remain net bearish
but by a small margin.  Small traders remain net bullish but
have upped their shorts a bit.

Commercials   Long      Short      Net     % Of OI
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%)
07/16/04      407,166   416,869   ( 9,703)   (1.2%)

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
06/22/04      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%
07/16/04      133,935    95,787    38,148    16.6%

Most bearish reading of the year:  (1,657)- 5/27/03
Most bullish reading of the year: 114,510 - 3/26/02


E-MINI S&P 500

Commercial traders have reduced their long positions in the
e-minis raising their net bearish positions several percentage
points.  Small traders are still very bullish.

Commercials   Long      Short      Net     % Of OI
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%)
07/16/04      265,142   427,017   (161,875)  (23.4%)

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
06/22/04      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    57.8%
07/16/04      225,410     57,699   167,711    59.2%

Most bearish reading of the year: (77,385)  - 09/02/03
Most bullish reading of the year: 449,310   - 06/10/03


NASDAQ-100

Commercial traders upped their long positions a bit boosting
their bullish stature on the NDX.  Small traders reduced both
their longs and shorts but the drop in long positions actually
left them move bearish.

Commercials   Long      Short      Net     % of OI
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%
07/16/04       44,211     37,007     7,204    8.9%

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
06/22/04        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%)
07/16/04        7,847    15,243    (7,396)  (32.0%)

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 are not making any big moves with their
INDU futures positions and they remain net bullish.  Meanwhile
small traders have turned a bit more bearish, the most we've
seen in weeks.

Commercials   Long      Short      Net     % of OI
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%
07/16/04       27,773    20,573    7,200      14.9%

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
06/22/04        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%)
07/16/04        5,292     9,068   (3,776)   (26.3%)

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

Wood, Chips and more!

Applied Materials - AMAT - close: 16.65 change: -0.13

WHAT TO WATCH: AMAT, like most of the semiconductor sector, has
been hit hard by recent weakness.  Intel's earnings were the
catalyst for AMAT's gap down this past week and the move produced
a major breakdown through support.  AMAT's P&F chart now shows a
triple-bottom breakdown sell signal with an $11.00 target.
Traders might want to consider new positions on a drop through
the $16.60 level.  Earnings are expected on August 17th.




---

PalmOne - PLMO - close: 34.99 change: +0.40

WHAT TO WATCH: There aren't many tech stocks trading near new
highs these days.  Bulls can watch PLMO for a breakout through
the top of its current trading range ($32.50-35.50).  We would
use a trigger to open the play with an initial target of $40.00.
Bears can wait for a breakdown under $32.50 but look for support
near the top of the gap near $28.00.




---

Boise Cascade - BCC - close: 35.01 change: +0.58

WHAT TO WATCH: BCC is another bullish candidate for traders.
Shares are bouncing from the trendline of support dating back to
the late November lows.  Technical indicators are oscillating
higher and traders can target a move to resistance near $38.  Be
aware that earnings are expected on July 20th.




---

Avnet Inc - AVT - close: 19.10 change: -0.64

WHAT TO WATCH: July has been a very tough month for AVT.  The
stock has broken through multiple levels of support at the $22.00
level, its simple 200-dma, the $20.00 mark, and its simple 200-
week moving average.  The P&F chart has rolled over into a new
sell signal with a $12.00 target.  We'd consider this as a
bearish technical candidate.  Traders could target a move to the
$16-15 range with a stop loss in the 20.00-20.50 area depending
on your risk tolerance.  Earnings should be in early August.





-----------------------------------
RADAR SCREEN - more stocks to watch
-----------------------------------


AMD $12.64 -0.33 - AMD was on the watch list on Thursday.  The
breakdown on the daily, weekly and P&F charts is very severe.
We'd target the $11.00-10.00 range.


CTXS $16.62 -0.45 - CTXS continues to look bearish with traders
selling the bounces.  Shares are currently under their August
2003 lows.  The next stop looks like the $15.00 level but watch
out for earnings on July 21st.


=================================================================
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) 2001-2004  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.





PremierInvestor.net Newsletter          Weekend Edition 07-18-2004
                                                    section 2 of 3
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:

Tech Stocks
  Bearish Play Updates:  BORL, BOBJ, CCBL


Active Trader (Non-tech)
  New Bullish Plays:     SRE, WMB
  Bullish Play Updates:  KCS
  Bearish Play Updates:  FRED


High Risk/Reward
  Bearish Play Updates:  FLML, SINA
  Closed Bearish Plays:  IMOS, VISG


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

============
PLAY UPDATES
============

  --------------------
  Bearish Play Updates
  --------------------

Borland Software - BORL - close: 7.00 change: -0.28 stop: 7.36*new*

It was another tough day for software stocks as the NASDAQ
plummeted through the 2000 level.  The GSO software index lost
2.3 percent and BORL fell more than 3.8 percent to close right at
$7.00 support.  The stock looks very weak here and its P&F chart
now points to a $1.00 target (long-term).  Some analyst chatter
suggested that weakness in IBM's Rational software unit could be
forecasting bad news for rival BORL.  We're going to lower our
stop loss from $7.51 to $7.36, that's five cents above Friday's
high and its 10-dma.  Currently BORL is down about 11.5 percent
from our picked price and readers may want to consider taking
some money off the table now.  We are going to set our official
exit price at $6.55.  If BORL trades at or below that level we're
closing the play.  Remember that BORL is due to report earnings
this Thursday so we will close the play on Wednesday afternoon to
avoid any surprises.

Annotated Chart:



Picked on July 04 at $ 7.91
Gain since picked:   - 0.91
Earnings Date      07/22/04 (confirmed)
Average Daily Volume:   672 thousand



---

Business Objects - BOBJ - close: 20.03 chg: +0.14 stop: 21.01

We added BOBJ to the PremierInvestor.net play list on Wednesday
with the expectation that software stocks would continue to sink.
The sector has been beset by earnings warnings and several of
BOBJ's competitors have already warned and that suggests that
BOBJ's quarter may not have been so hot.  We were correct to
predict more weakness in software stocks as evidenced by the drop
in the GSO software index.  Yet surprisingly BOBJ has not
participated - at least not yet.  We do see a minor trend of
lower highs in BOBJ so the breakdown may still yet occur.  As of
now we are not triggered and await BOBJ to trade at $19.80 or
below to open the play.

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: 8.28 chg: -0.08 stop: 8.51

Shares of CCBL continue to sink but we're not triggered yet.
Actually we're surprised that the NASDAQ's drop through the 2000
level wasn't enough to lead CCBL down through the $8.00 mark.
CCBL did trade to $8.05 late in the session but rebounded back
into the close.  Our trigger to go short is $7.95 and until CCBL
trades at or below that mark we'll sit on the sidelines.  There
is no new stock-moving news for CCBL.  CCBL was added to the play
list last Wednesday.

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




==================================================================
Stock Bottom / Active Trader (AT) section
==================================================================

=========
NEW PLAYS
=========

  -----------------
  New Bullish Plays
  -----------------

Sempra Energy - SRE - close: 35.45 change: +0.63 stop: 33.99

Company Description:
Sempra Energy, based in San Diego, is a Fortune 500 energy
services holding company with 2003 revenues of $7.9 billion. The
Sempra Energy companies' nearly 13,000 employees serve more than
10 million customers in the United States, Europe, Canada,
Mexico, South America and Asia. (source: company press release)

Why We Like It:
Natural gas stocks have been out performing many of their oil-
related brethren and SRE fits the bill.  Friday's bullish
breakout to new all-time highs after five-weeks of consolidation
in a $1.00 range looks great.  The move was fueled by more than
twice its average volume and its MACD indicator is very close to
producing a new buy signal.  Short-term technicals like the RSI
and stochastics are already bullish.  Its P&F chart is also
bullish with an ascending triple-top breakout buy signal and a
$42.50 price target.

We are going to target a move into the $38.00 range.  We'll
initiate the play with a stop loss just under the bottom of its
recent trading range at $33.99.  SRE isn't the fastest moving
stock so we're going to try and be patient and hold on to it
until its August earnings report unless of course we hit our
target or stop.

Annotated Chart:



Picked on July 18 at $35.45
Gain since picked:   + 0.00
Earnings Date      08/05/04 (unconfirmed)
Average Daily Volume:   909 thousand



---

Williams Cos - WMB - $12.48 change: +0.18 stop: 11.79

Company Description:
Williams, through its subsidiaries, primarily finds, produces,
gathers, processes and transports natural gas. Williams' gas
wells, pipelines and midstream facilities are concentrated in the
Northwest, Rocky Mountains, Gulf Coast and Eastern Seaboard.
(source: company press release)

Why We Like It:
Our new play in WMB uses the same concept as the new play in SRE.
Energy stocks have been pillars of strength in the markets.
Traders are looking for a place to put their money and with oil
rising on growing demand energy stocks could be strong for quite
some time.  A good number of natural gas stocks are out
performing their oil-related rivals and that's why we're
attracted to WMB.  We had this stock on the watch list for a
breakout in the $12.45-12.50 range.  We got it so we're going to
use it as an entry point.  Momentum traders might want to look
for a little more conviction and wait for a move over the $12.60
mark.  Point-and-Figure chart traders will be encouraged to note
the double-top breakout buy signal through P&F resistance and its
$21 (long-term) target.  We're going to target a move to the $14-
15 region with an initial stop loss at $11.79 near its 50-dma.
In the news WMB announced a 1-cent cash dividend payable on
September 13th but we don't believe it's going to be market
moving news.

Annotated Chart:



Picked on July 18 at $12.48
Gain since picked:   + 0.00
Earnings Date      08/10/04 (unconfirmed)
Average Daily Volume:   3.3 million




============
PLAY UPDATES
============

  --------------------
  Bullish Play Updates
  --------------------

KCS Energy - KCS - close: 13.96 change: -0.16 stop: 13.69 *new*

Uh-oh!  Start waving the caution flag.  KCS had been steadily
climbing as the energy/oil stocks surged on the rise in crude.
Now KCS is faltering the last couple of sessions just as crude
oil rises to $41 a barrel.  That doesn't match up and its MACD is
looking weak and close to producing a new sell signal.  Sounds
like danger to us.  KCS should have been setting new highs.
We're going to give KCS a chance to bounce from the $13.80-13.75
level but that's it.  We're raising the stop loss to $13.69,
which is essentially breakeven for us.  If KCS trades at $13.69
or below we're out.

Annotated Chart:



Picked on July 04 at $13.64
Gain since picked:   + 0.32
Earnings Date      05/05/04 (confirmed)
Average Daily Volume:   562 thousand




  --------------------
  Bearish Play Updates
  --------------------

Fred's Inc - FRED - close: 18.65 change: -0.87 stop: 20.21*new*

It was not a bad week for FRED bears.  The stock gapped lower on
Monday to open at $19.66.  That was below our trigger price at
$19.99 and set us behind the curve when FRED popped back toward
the $20 level.  Fortunately the descending trendline of weakness
held up and FRED closed back below the $20.00 mark on Wednesday.
Friday's 4.45 percent decline looks pretty bad but volume was
only about half the norm.  We'll still take it and that leaves us
with a 5 percent drop from the entry price (19.66).  Investors
are growing more concerned about retail sales figures and
consumers discretionary income as oil rises.  We could see FRED
hit our initial target at $17.50 sooner than expected.  We will
lower our stop loss to $20.21.

FYI: Don't be surprised if FRED bounces back toward the $19.25-
19.50 level.  It could be a good spot to consider new bearish
positions.

Annotated Chart:



Picked on July 12 at $19.66
Gain since picked:   - 1.01
Earnings Date      08/19/04 (unconfirmed)
Average Daily Volume:   924 thousand




==================================================================
HIGH RISK/HIGH REWARD (HR) section
==================================================================

============
PLAY UPDATES
============

  --------------------
  Bearish Play Updates
  --------------------

Flamel Technologies - FLML - cls: 19.90 chg: -0.54 stop: 22.06

The midweek rebound from the $18.50 level gave us a small scare
but resistance in the $21.00-21.50 range held up.  Now FLML's
close back under the $20.00 level leaves the stock poised to
start another leg lower.  We will continue to target a drop
toward the $16-15 region.  More conservative traders may want to
consider lowering stops to $21.51.  We're going to give FLML a
little more room and leave the stop at $22.06 for now.  Earnings
are still unconfirmed on July 29th but if that's the date we have
less than two weeks to achieve our objective.

Annotated Chart:



Picked on July 11 at $20.83
Gain since picked:   - 0.93
Earnings Date      07/29/04 (unconfirmed)
Average Daily Volume:   536 thousand



---

Sina Corp - SINA - close: 24.67 change: -1.28 stop: 27.51*new*

Almost perfect!  The sell-off in tech stocks and the NASDAQ's
breakdown below the 2000 level on Friday was enough to lead SINA
through support at the $25.00 level.  Shares of SINA hit our
trigger to go short at $24.95 while setting new lows not seen
since last July.  Its P&F chart produced another sell signal,
which currently points to a $5.00 target.  We're targeting a drop
to the $20-18 range but we only have until July 27th, that's when
SINA reports earnings after the closing bell.  We're going to
lower our stop loss to $27.51, above the simple 10-dma.

Annotated Chart:



Picked on July 16 at $24.95
Gain since picked:   - 0.28
Earnings Date      07/27/04 (confirmed)
Average Daily Volume:    5.2 million




============
CLOSED PLAYS
============

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

ChimMOS Tech. - IMOS - close: 5.23 change: -0.02 stop: 6.30

That's close enough for us.  After consolidating for a couple of
sessions midweek above the $5.00 mark IMOS finally broke through
round-number support at the $5.00 level.  Shares hit $4.83 in the
middle of the day before rebounding sharply back above $5.00.
We've been suggesting that readers consider taking profits in the
$4.50-5.00 range so we're going to take our own advice.  The move
off the lows just happens to be bounce from IMOS' trendline of
support stretching from the February lows across the April lows
and extended forward.  If it's not your style to exit now don't
sweat it.  We're more than happy to take the 19.5 percent drop
from our entry point at $6.50.  However, if you think IMOS has
further fall leave the play open and just tighten your stop.
Readers might want to consider stops in the $5.55 range.

Picked on July 07th at $6.50
Change since picked   - 1.27
Earnings Date        5/14/04 (confirmed)
Average Daily Volume =   322 K



---

Viisage Technology - VISG - close: 6.60 chg: -0.15 stop: 7.16

VISG is another bearish play that has come close enough to hit
our target that we're closing it.  We've been targeting a drop to
the $6.50 level above the simple 200-dma.  The continued weakness
in the software sector was strong enough to lead VISG to hit
$6.51 on Friday afternoon.  Closing the play at $6.60 still gives
us a 17 percent drop from the picked price.  While we suggest
readers cover for a profit and exit more aggressive traders might
want to keep the play open.  VISG still looks weak.  However,
keep in mind that shares are extremely oversold, way overdue for
a bounce, and hovering just above their 200-dma.  Earnings are
expected on July 22nd and we would not hold over the report.

Picked on July 06 at $ 7.95
Gain since picked:   - 1.35
Earnings Date      07/22/04 (confirmed)
Average Daily Volume:   2.4 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) 2001-2004  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.






PremierInvestor.net Newsletter          Weekend Edition 07-18-2004
                                                    section 3 of 3
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 three:

Market Watch for Week of July 18th, 2004
   - Major Earnings
   - Stock Splits
   - Economic Reports

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 Watch for the week of July 18th
==========================================

-----------------
Earnings Calendar
-----------------

Symbol  Co               Date           Comment      EPS Est

------------------------- MONDAY -------------------------------

MMM    3M Co               Mon, Jul 19  Before the Bell      0.96
AKZOY  Akzo Nobel N.V.     Mon, Jul 19  -----N/A-----         N/A
ASD    American Standard   Mon, Jul 19  Before the Bell      0.72
ARMHY  ARM Hldg Plc.       Mon, Jul 19  -----N/A-----        0.04
AVB    Avalonbay Commun    Mon, Jul 19  After the Bell       0.80
BNK    Banknorth Grp Inc.  Mon, Jul 19  Before the Bell      0.57
BSX    Boston Sci Corp     Mon, Jul 19  Before the Bell      0.48
CF     Charter One Fncl    Mon, Jul 19  -----N/A-----        0.72
CGNX   Cognex              Mon, Jul 19  After the Bell       0.23
CNB    Colonial BancGrp    Mon, Jul 19  -----N/A-----        0.32
DNB    D&B                 Mon, Jul 19  After the Bell       0.59
DOV    Dover Corp          Mon, Jul 19  After the Bell       0.48
DSL    Downey Fncl Corp.   Mon, Jul 19  Before the Bell      0.97
RE     Everest Re Grp, Ltd.Mon, Jul 19  After the Bell       2.66
FNFG   1st Niagara Fncl GrpMon, Jul 19  Before the Bell      0.16
HE     Hawaiian Electric   Mon, Jul 19  After the Bell       0.39
HU     Hudson Un Bancorp   Mon, Jul 19  After the Bell       0.70
ICBC   Ind Cmmnty Bank     Mon, Jul 19  After the Bell       0.72
KFT    Kraft Foods         Mon, Jul 19  -----N/A-----        0.46
LEE    Lee Enterprises, IncMon, Jul 19  -----N/A-----        0.54
LM     Legg Mason          Mon, Jul 19  Before the Bell      1.24
LXK    Lexmark Intl, Inc.  Mon, Jul 19  -----N/A-----        0.96
LNCR   Lincare Hldg        Mon, Jul 19  -----N/A-----        0.64
MAT    Mattel              Mon, Jul 19  -----N/A-----        0.05
NE     Noble Corp          Mon, Jul 19  -----N/A-----        0.25
NHY    Norsk Hydro         Mon, Jul 19  -----N/A-----         N/A
OXY    Occidental Petrol   Mon, Jul 19  Before the Bell      1.42
PKG    Pack Corp of AmericaMon, Jul 19  After the Bell       0.08
PRK    Park National       Mon, Jul 19  -----N/A-----        1.74
PCL    Plum Creek Timber   Mon, Jul 19  After the Bell       0.31
PCH    Potlatch            Mon, Jul 19  After the Bell       1.35
RGF    R&G FNCL            Mon, Jul 19  -----N/A-----        0.68
STLD   Steel Dynamics      Mon, Jul 19  After the Bell       1.12
TRBS   Texas Regional      Mon, Jul 19  Before the Bell      0.60
TMA    Thornburg Mortgage  Mon, Jul 19  After the Bell        N/A
UDR    Un Domin Rlty Trst  Mon, Jul 19  After the Bell       0.39

------------------------- TUESDAY ------------------------------

NDN    99 CENTS Only       Tue, Jul 20  -----N/A-----        0.05
ACXM   Acxiom              Tue, Jul 20  After the Bell       0.13
AFCI   Advanced Fibre Comm Tue, Jul 20  After the Bell       0.08
ATI    Allegheny Tech      Tue, Jul 20  Before the Bell     -0.21
MO     Altria Grp, Inc.    Tue, Jul 20  -----N/A-----        1.27
AMTD   Ameritrade Hldg CorpTue, Jul 20  -----N/A-----        0.15
AMCC   App Micro Circuits  Tue, Jul 20  -----N/A-----        0.00
AN     AutoNation          Tue, Jul 20  Before the Bell      0.35
AVY    Avery Dennison Corp Tue, Jul 20  Before the Bell      0.73
BXS    BancorpSouth, Inc.  Tue, Jul 20  Before the Bell      0.37
BVC    Bay View Capital    Tue, Jul 20  After the Bell        N/A
BLK    BlackRock, Inc.     Tue, Jul 20  Before the Bell      0.71
BCC    Boise Cascade       Tue, Jul 20  Before the Bell      0.33
BXP    Boston Properties   Tue, Jul 20  After the Bell       1.00
CHRW   C.H. Robinson WrldwdTue, Jul 20  After the Bell       0.37
BCR    C.R. Bard, Inc.     Tue, Jul 20  After the Bell       0.56
CNI    Can Natl Railway    Tue, Jul 20  -----N/A-----        0.72
CDWC   CDW Computer CentersTue, Jul 20  -----N/A-----        0.66
CNT    CENTERPOINT PPTYS TRTue, Jul 20  -----N/A-----        0.49
CEN    Ceridian            Tue, Jul 20  Before the Bell      0.19
CPS    ChoicePoint, Inc.   Tue, Jul 20  Before the Bell      0.40
CNF    CNF Inc.            Tue, Jul 20  After the Bell       0.57
CLP    Colonial Prop Trust Tue, Jul 20  -----N/A-----        0.86
CVG    Convergys Corp      Tue, Jul 20  After the Bell       0.20
CYMI   Cymer, Inc.         Tue, Jul 20  Before the Bell      0.29
ET     E*TRADE Grp, Inc.   Tue, Jul 20  -----N/A-----        0.19
EMC    EMC Corp            Tue, Jul 20  Before the Bell      0.08
ESV    ENSCO Intl          Tue, Jul 20  Before the Bell      0.09
F      Ford Motor Co       Tue, Jul 20  Before the Bell      0.50
FCX    Frprt-McMRan Cop GldTue, Jul 20  Before the Bell     -0.21
FULT   Fulton Fncl         Tue, Jul 20  -----N/A-----        0.32
GNTX   Gentex              Tue, Jul 20  -----N/A-----        0.38
GDW    Golden West Fncl    Tue, Jul 20  -----N/A-----        2.00
GPT    GreenPoint Fncl     Tue, Jul 20  Before the Bell      0.96
HCN    Health Care REIT    Tue, Jul 20  After the Bell       0.74
HMA    Health Mgmt Assoc   Tue, Jul 20  Before the Bell      0.36
HUBb   Hubbell Inc         Tue, Jul 20  During the Market    0.57
IFX    Infineon Tech AG    Tue, Jul 20  Before the Bell       N/A
IPCR   IPC Hldg            Tue, Jul 20  After the Bell       1.24
JCI    Johnson Controls    Tue, Jul 20  Before the Bell      1.15
JRN    Journal Comm, Inc.  Tue, Jul 20  Before the Bell      0.24
LECO   Lincoln Electric    Tue, Jul 20  Before the Bell      0.52
LLTC   Linear Tech         Tue, Jul 20  After the Bell       0.30
MAN    Manpower            Tue, Jul 20  Before the Bell      0.52
MATW   Matthews Intl       Tue, Jul 20  -----N/A-----        0.40
MDCO   MEDICINES CO        Tue, Jul 20  After the Bell       0.08
MEL    Mellon Fncl Corp    Tue, Jul 20  During the Market    0.44
MRBK   Merc Bankshares     Tue, Jul 20  Before the Bell      0.72
MCHP   Microchip Tech      Tue, Jul 20  After the Bell       0.26
MIL    Millipore Corp.     Tue, Jul 20  -----N/A-----        0.55
MOT    Motorola Inc.       Tue, Jul 20  After the Bell       0.18
NVS    Novartis Corp       Tue, Jul 20  Before the Bell      0.59
JNC    Nuveen Investments  Tue, Jul 20  Before the Bell      0.40
OMM    OMI Corp            Tue, Jul 20  After the Bell       0.42
OI     Owens Illinois      Tue, Jul 20  After the Bell       0.48
PLT    Plantronics, Inc.   Tue, Jul 20  After the Bell       0.39
PPP    Pogo Producing      Tue, Jul 20  -----N/A-----        1.32
PTZ    Pulitzer Inc.       Tue, Jul 20  Before the Bell      0.57
RSH    RadioShack Corp     Tue, Jul 20  Before the Bell      0.39
RFMD   RF Micro Devices    Tue, Jul 20  After the Bell       0.04
SAFC   Safeco Corp.        Tue, Jul 20  Before the Bell      0.80
SANM   Sanmina-SCI Corp.   Tue, Jul 20  After the Bell       0.06
STX    Seagate Tech        Tue, Jul 20  After the Bell       0.00
SSD    Simpson Manu        Tue, Jul 20  After the Bell       0.84
SLG    SL Green Rlty       Tue, Jul 20  After the Bell       0.94
TSFG   South Fncl Grp Inc  Tue, Jul 20  Before the Bell      0.48
SOV    Sovereign Bancorp   Tue, Jul 20  After the Bell       0.41
STK    Storage Tech        Tue, Jul 20  After the Bell       0.31
SUNW   Sun MicroSys        Tue, Jul 20  -----N/A-----       -0.04
TASR   Taser Intl, Inc.    Tue, Jul 20  Before the Bell      0.13
TER    Teradyne Inc.       Tue, Jul 20  After the Bell       0.37
TXN    Texas Instruments   Tue, Jul 20  After the Bell       0.25
CAKE   Cheesecake Factory  Tue, Jul 20  After the Bell       0.34
TRMK   Trustmark Corp      Tue, Jul 20  -----N/A-----        0.51
TSS    TSYS                Tue, Jul 20  -----N/A-----        0.18
USB    U.S. Bancorp        Tue, Jul 20  Before the Bell      0.53
UB     UnionBanCal         Tue, Jul 20  After the Bell       1.08
UBSI   United Bankshares   Tue, Jul 20  -----N/A-----        0.55
WFC    Wells Fargo & Co    Tue, Jul 20  Before the Bell      1.04
WABC   Westamerica BanCorp Tue, Jul 20  During the Market    0.76
XTO    XTO Energy Inc.     Tue, Jul 20  -----N/A-----        0.55


------------------------ WEDNESDAY -----------------------------

AGRa   Agere Sys, Inc.     Wed, Jul 21  Before the Bell      0.01
ALFA   Alfa Corp           Wed, Jul 21  Before the Bell      0.21
ALE    Allete              Wed, Jul 21  After the Bell       0.54
ADS    Alliance Data Sys   Wed, Jul 21  -----N/A-----        0.32
ALTR   Altera Corp         Wed, Jul 21  4:30 pm ET           0.17
ABK    Ambac Fncl Grp      Wed, Jul 21  Before the Bell      1.51
DOX    Amdocs Limited      Wed, Jul 21  -----N/A-----        0.30
AME    AMETEK Inc.         Wed, Jul 21  Before the Bell      0.38
APH    Amphenol            Wed, Jul 21  Before the Bell      0.42
AWE    AT&T Wireless       Wed, Jul 21  -----N/A-----       -0.01
ATML   Atmel Corp          Wed, Jul 21  After the Bell       0.03
BJS    BJ SVCS CO          Wed, Jul 21  Before the Bell      0.41
BOKF   BOK Fncl            Wed, Jul 21  -----N/A-----        0.65
BR     Burlington ResourcesWed, Jul 21  After the Bell       0.85
CSG    Cadbury Schweppes   Wed, Jul 21  -----N/A-----         N/A
CDN    Cadence Design Sys  Wed, Jul 21  After the Bell       0.15
COF    Capital One Fncl    Wed, Jul 21  After the Bell       1.50
CD     Cendant Corp        Wed, Jul 21  After the Bell       0.45
CERN   Cerner Corp         Wed, Jul 21  After the Bell       0.37
CHIR   Chiron              Wed, Jul 21  After the Bell       0.24
CTXS   Citrix Sys          Wed, Jul 21  After the Bell       0.18
CL     Colgate-Palmolive   Wed, Jul 21  -----N/A-----        0.66
COLM   Columbia Sportswear Wed, Jul 21  After the Bell       0.23
CYH    Cmmnty Health Sys   Wed, Jul 21  After the Bell       0.36
CVD    Covance             Wed, Jul 21  After the Bell       0.36
DHI    D.R. Horton         Wed, Jul 21  Before the Bell      0.87
DCN    Dana                Wed, Jul 21  -----N/A-----        0.49
DO     Dmnd Offshore DrllngWed, Jul 21  Before the Bell     -0.02
DBD    Diebold             Wed, Jul 21  Before the Bell      0.60
DST    DST Sys             Wed, Jul 21  After the Bell       0.55
EK     Eastman Kodak Co    Wed, Jul 21  Before the Bell      0.59
EBAY   eBay                Wed, Jul 21  After the Bell       0.27
EFII   Electronics Imaging Wed, Jul 21  After the Bell       0.24
ERES   eResearch Tech      Wed, Jul 21  After the Bell       0.14
ERICY  Ericsson LM Tele    Wed, Jul 21  -----N/A-----        0.29
FNM    Fannie Mae          Wed, Jul 21  Before the Bell      1.83
FDC    First Data          Wed, Jul 21  Before the Bell      0.53
FR     First Ind Rlty TrustWed, Jul 21  After the Bell       0.65
FMBI   1st Midwest Bancorp Wed, Jul 21  Before the Bell      0.53
FHN    First Tennessee NatlWed, Jul 21  Before the Bell      0.94
GD     General Dynamics    Wed, Jul 21  Before the Bell      1.40
GM     General Motors Corp.Wed, Jul 21  Before the Bell      2.24
GYI    GETTY IMAGES INC    Wed, Jul 21  After the Bell       0.40
GPN    Global Payments Inc.Wed, Jul 21  After the Bell       0.45
GG     Goldcorp            Wed, Jul 21  After the Bell       0.08
HET    Harrah's Entertain  Wed, Jul 21  -----N/A-----        0.79
HRH    Hilb Rogal & Hobbs  Wed, Jul 21  After the Bell       0.60
HON    Honeywell           Wed, Jul 21  Before the Bell      0.38
HMT    Host Marriott       Wed, Jul 21  Before the Bell      0.28
HCBK   Hudson City Bancorp Wed, Jul 21  Before the Bell      0.31
HYSL   Hyperion            Wed, Jul 21  Before the Bell      0.40
ITW    Illinois Tool Works Wed, Jul 21  Before the Bell      1.16
IMN    Imation Corp.       Wed, Jul 21  Before the Bell      0.51
IMCL   ImClone Sys Inc     Wed, Jul 21  -----N/A-----        0.22
IVGN   Invitrogen Corp     Wed, Jul 21  Before the Bell      0.74
JPM    J.P. Morgan Chase   Wed, Jul 21  Before the Bell      0.83
KMI    Kinder Morgan       Wed, Jul 21  -----N/A-----        0.83
NITE   Knight Trading Grp  Wed, Jul 21  Before the Bell      0.08
KNGT   Knight Transport    Wed, Jul 21  After the Bell       0.27
LRCX   Lam Research        Wed, Jul 21  After the Bell       0.26
LF     LeapFrog EnterprisesWed, Jul 21  After the Bell      -0.15
LEG    Leggett & Platt     Wed, Jul 21  After the Bell       0.38
LU     Lucent Technologies Wed, Jul 21  Before the Bell      0.02
MXO    Maxtor Corp         Wed, Jul 21  After the Bell      -0.17
MRK    Merck & Co., Inc.   Wed, Jul 21  Before the Bell      0.79
MERQ   Mercury Interactive Wed, Jul 21  -----N/A-----        0.25
MEOH   Methanex            Wed, Jul 21  -----N/A-----        0.42
MGG    MGM MIRAGE          Wed, Jul 21  Before the Bell      0.58
MLNM   Millennium Pharm    Wed, Jul 21  After the Bell      -0.10
MHK    Mohawk Ind, Inc.    Wed, Jul 21  After the Bell       1.30
NCEN   New Century Fncl    Wed, Jul 21  -----N/A-----        2.13
NYB    NY Cmmnty Bancorp   Wed, Jul 21  Before the Bell      0.50
NXTL   Nextel Comm         Wed, Jul 21  -----N/A-----        0.51
NTRS   Northern Trust      Wed, Jul 21  -----N/A-----        0.58
NCX    NOVA Chemicals      Wed, Jul 21  Before the Bell      0.16
PFCB   P.F. Chang's Chna   Wed, Jul 21  Before the Bell      0.32
PMTC   PARAMETRIC TECH CORPWed, Jul 21  Before the Bell      0.04
PNR    Pentair, Inc.       Wed, Jul 21  Before the Bell      0.52
PNC    PNC Fncl Serv Grp   Wed, Jul 21  Before the Bell      1.01
PGN    Progress Energy     Wed, Jul 21  Before the Bell      0.72
QCOM   QUALCOMM Inc.       Wed, Jul 21  After the Bell       0.53
RDN    Radian Grp          Wed, Jul 21  After the Bell       1.16
ROG    Rogers Corp         Wed, Jul 21  After the Bell       0.71
RCN    Rogers Wireless CommWed, Jul 21  -----N/A-----         N/A
RYL    Ryland Grp          Wed, Jul 21  After the Bell       2.52
SGP    Schering-Plough     Wed, Jul 21  Before the Bell     -0.01
SCHL   Scholastic          Wed, Jul 21  After the Bell       0.85
SRA    Serono S.A.         Wed, Jul 21  After the Bell       0.19
SEBL   Siebel Sys          Wed, Jul 21  After the Bell       0.03
SIE    Sierra Health Serv  Wed, Jul 21  After the Bell       0.82
SWKS   Skyworks            Wed, Jul 21  After the Bell       0.07
FON    Sprint FON Grp      Wed, Jul 21  -----N/A-----        0.18
SWMAY  Swedish Match       Wed, Jul 21  -----N/A-----         N/A
SYMC   Symantec            Wed, Jul 21  After the Bell       0.34
SNV    Synovus Fncl Corp.  Wed, Jul 21  -----N/A-----        0.34
TDS    Telephone Data      Wed, Jul 21  Before the Bell      0.61
TLAB   Tellabs             Wed, Jul 21  Before the Bell      0.06
TMK    Torchmark           Wed, Jul 21  After the Bell       1.05
TAC    TRANSALTA CORP      Wed, Jul 21  -----N/A-----         N/A
USM    U.S. Cellular       Wed, Jul 21  Before the Bell      0.33
VOLVY  Volvo AB            Wed, Jul 21  Before the Bell      0.68
WM     Washington Mutual   Wed, Jul 21  After the Bell       0.61
WHR    Whirlpool Corp      Wed, Jul 21  Before the Bell      1.49
WSH    Willis Grp Hldg LmtdWed, Jul 21  After the Bell       0.58
WPS    WPS Resources       Wed, Jul 21  -----N/A-----        0.33
WYE    WYETH               Wed, Jul 21  Before the Bell      0.59
ZION   Zions Bancorp       Wed, Jul 21  After the Bell       1.11


------------------------- THUSDAY -----------------------------

RKY    Adolph Coors, Co.   Thu, Jul 22  Before the Bell      1.99
ALB    Albemarle Corp      Thu, Jul 22  -----N/A-----        0.42
ACV    Alberto-Culver Co.  Thu, Jul 22  -----N/A-----        0.54
ARB    Arbitron Inc.       Thu, Jul 22  Before the Bell      0.27
AF     Astoria Fncl Corp   Thu, Jul 22  Before the Bell      0.79
AZN    AstraZeneca PLC     Thu, Jul 22  -----N/A-----        0.48
ALV    Autoliv             Thu, Jul 22  Before the Bell      0.88
AVID   Avid Tech, Inc.     Thu, Jul 22  After the Bell       0.43
BHE    Benchmark Elect     Thu, Jul 22  Before the Bell      0.37
CNP    CenterPoint Energy  Thu, Jul 22  Before the Bell      0.21
CHRT   Chrtrd Semicon Manu Thu, Jul 22  -----N/A-----        0.04
CME    CHI MRCNTL HLDGS INCThu, Jul 22  Before the Bell      1.64
CIT    CIT Grp             Thu, Jul 22  Before the Bell      0.80
CFB    Commercial Federal  Thu, Jul 22  Before the Bell      0.44
BVN    Co Minas Bnaventura Thu, Jul 22  -----N/A-----        0.38
ED     Consolidated Edison Thu, Jul 22  -----N/A-----        0.26
CFC    Countrywide Fncl    Thu, Jul 22  Before the Bell      2.30
CYT    Cytec Ind Inc.      Thu, Jul 22  After the Bell       0.71
ELNK   EarthLink           Thu, Jul 22  Before the Bell      0.15
ECL    Ecolab Inc.         Thu, Jul 22  Before the Bell      0.29
LLY    Eli Lilly           Thu, Jul 22  Before the Bell      0.68
EGN    Energen             Thu, Jul 22  -----N/A-----        0.58
ELAB   Eon Labs            Thu, Jul 22  -----N/A-----        0.26
EFX    Equifax Inc.        Thu, Jul 22  Before the Bell      0.39
FHR    Fairmont Htls & RsrtThu, Jul 22  -----N/A-----        0.36
FNF    Fidelity Natl Fncl  Thu, Jul 22  Before the Bell      1.12
FISV   Fiserv              Thu, Jul 22  Before the Bell      0.47
FLIR   FLIR Sys, Inc.      Thu, Jul 22  Before the Bell      0.39
FDRY   Foundry Networks    Thu, Jul 22  Before the Bell      0.14
BEN    Franklin Resources  Thu, Jul 22  -----N/A-----        0.76
GTW    Gateway, Inc.       Thu, Jul 22  After the Bell      -0.14
GLK    Great Lakes ChemicalThu, Jul 22  -----N/A-----        0.45
DA     Grpe Danone         Thu, Jul 22  -----N/A-----        0.48
GDT    Guidant             Thu, Jul 22  Before the Bell      0.58
HP     Helmerich & Payne   Thu, Jul 22  -----N/A-----        0.14
HSY    Hershey Foods Corp  Thu, Jul 22  Before the Bell      0.31
HNI    HNI Corp            Thu, Jul 22  -----N/A-----        0.41
IEX    Idex                Thu, Jul 22  Before the Bell      0.42
IR     Ingersoll-Rand Co   Thu, Jul 22  Before the Bell      1.30
IDTI   Integrated Dev Tech Thu, Jul 22  -----N/A-----        0.09
IDC    Interactive Data    Thu, Jul 22  Before the Bell      0.20
IGT    Intl Game Tech      Thu, Jul 22  -----N/A-----        0.33
SFI    iStar Fncl          Thu, Jul 22  -----N/A-----         N/A
ESI    ITT Edu Serv, Inc.  Thu, Jul 22  -----N/A-----        0.30
JNS    Janus Capital Grp   Thu, Jul 22  Before the Bell      0.17
JBLU   JetBlue Airways     Thu, Jul 22  Before the Bell      0.21
KMB    Kimberly Clark      Thu, Jul 22  Before the Bell      0.89
KRI    Knight Ridder       Thu, Jul 22  Before the Bell      1.06
LEA    Lear Corp.          Thu, Jul 22  Before the Bell      1.62
LYO    Lyondell Petrochem  Thu, Jul 22  Before the Bell      0.08
NST    NSTAR               Thu, Jul 22  -----N/A-----        0.68
PTV    Pactiv              Thu, Jul 22  After the Bell       0.39
PHLY   Phil Cnsldtd Hldg   Thu, Jul 22  -----N/A-----        1.06
RSAS   RSA Security        Thu, Jul 22  After the Bell       0.11
TSG    Sabre Hldg Corp.    Thu, Jul 22  Before the Bell      0.43
SBC    SBC Comm            Thu, Jul 22  Before the Bell      0.36
SHR    Schering AG         Thu, Jul 22  Before the Bell       N/A
POOL   SCP Pool Corp       Thu, Jul 22  Before the Bell      1.16
S      Sears, Roebuck Co.  Thu, Jul 22  -----N/A-----        0.72
SHW    Sherwin-Williams    Thu, Jul 22  -----N/A-----        0.86
SIAL   Sigma-Aldrich Corp  Thu, Jul 22  After the Bell       0.82
SIVB   Silicon Vlly BncshrsThu, Jul 22  -----N/A-----        0.39
SKYF   Sky Fncl Grp        Thu, Jul 22  Before the Bell      0.44
SFG    StanCorp Fncl Grp   Thu, Jul 22  Before the Bell      1.34
HOT    Strwd Htls & Rsrts  Thu, Jul 22  Before the Bell      0.37
SUN    Sunoco              Thu, Jul 22  -----N/A-----        2.39
SY     Sybase              Thu, Jul 22  Before the Bell      0.19
TKLC   Tekelec             Thu, Jul 22  After the Bell       0.09
TPX    Tempur Pedic Intl   Thu, Jul 22  After the Bell       0.18
TEX    Terex Corp          Thu, Jul 22  Before the Bell      0.81
TGN    Texas Genco Hldg    Thu, Jul 22  -----N/A-----         N/A
TXT    Textron Inc.        Thu, Jul 22  -----N/A-----        0.74
KO     The Coca-Cola Co    Thu, Jul 22  After the Bell       0.63
TBL    The Timberland Co   Thu, Jul 22  Before the Bell      0.18
TKR    The Timken Co       Thu, Jul 22  Before the Bell      0.32
TMS    Thomson             Thu, Jul 22  -----N/A-----         N/A
TRH    Transatlantic Hldg  Thu, Jul 22  -----N/A-----        1.64
TUES   Tuesday Morning CorpThu, Jul 22  Before the Bell      0.22
UHS    Universal Hlth Serv Thu, Jul 22  After the Bell       0.69
UST    UST Inc.            Thu, Jul 22  Before the Bell      0.77
VCI    Valassis Comm Inc.  Thu, Jul 22  Before the Bell      0.47
VRSN   VeriSign, Inc.      Thu, Jul 22  After the Bell       0.15
WFT    Weatherford Intl    Thu, Jul 22  Before the Bell      0.39
WEN    Wendy's Intl        Thu, Jul 22  -----N/A-----        0.62
XLNX   Xilinx, Inc.        Thu, Jul 22  After the Bell       0.28


------------------------- FRIDAY -------------------------------

BLC    Belo                Fri, Jul 23  Before the Bell      0.38
CNH    CNH Global N.V.     Fri, Jul 23  Before the Bell      0.65
CMI    Cummins Inc.        Fri, Jul 23  Before the Bell      1.34
DASTY  Dassault Systemes SAFri, Jul 23  -----N/A-----        0.33
DP     Diagnostic Products Fri, Jul 23  Before the Bell      0.63
EEP    Enbridge Enrgy PrtnrFri, Jul 23  Before the Bell      0.43
ENT    Equant NV           Fri, Jul 23  -----N/A-----         N/A
EYET   Eyetech Pharm       Fri, Jul 23  After the Bell      -0.40
FPL    FPL Grp             Fri, Jul 23  Before the Bell      1.38
IT     Gartner             Fri, Jul 23  -----N/A-----        0.10
IMY    Grupo IMSA, S.A.    Fri, Jul 23  -----N/A-----        0.60
HAL    Halliburton Co      Fri, Jul 23  Before the Bell      0.33
ITT    ITT Ind             Fri, Jul 23  Before the Bell      1.15
KB     Kookmin Bank        Fri, Jul 23  -----N/A-----         N/A
HCR    Manor Care Inc      Fri, Jul 23  Before the Bell      0.45
MYG    Maytag              Fri, Jul 23  Before the Bell      0.40
PCAR   PACCAR              Fri, Jul 23  -----N/A-----        1.14
PGL    Peoples Energy Corp.Fri, Jul 23  Before the Bell      0.31
R      Ryder System, Inc.  Fri, Jul 23  Before the Bell      0.69
SCG    SCANA               Fri, Jul 23  Before the Bell      0.43
SLB    Schlumberger        Fri, Jul 23  Before the Bell      0.48
SSCC   Smurfit-Stone Cont  Fri, Jul 23  Before the Bell     -0.08
STHLY  Stet Hellas Telecom Fri, Jul 23  -----N/A-----         N/A
TELN   Telenor ASA         Fri, Jul 23  -----N/A-----         N/A
TRP    TransCanada Corp    Fri, Jul 23  -----N/A-----         N/A
WY     Weyerhaeuser Co.    Fri, Jul 23  Before the Bell      1.10
XRX    Xerox Corp          Fri, Jul 23  Before the Bell      0.17


----------------------------------------------
Upcoming Stock Splits In The Next Two Weeks...
----------------------------------------------

Symbol  Co Name              Ratio    Payable     Executable

BLUD    Immucor, Inc              3:2      Jul  16th   Jul  19th
KNGT    Knight Transportation Inc 3:2      Jul  20th   Jul  21st
CWTR    Coldwater Creek Inc       3:2      Jul  23rd   Jul  26th
VAR     Varian Medical Systems Inc2:1      Jul  30th   Aug   2nd
GTK     GTECH Holdings Corp       2:1      Jul  30th   Aug   2nd


--------------------------
Economic Reports This Week
--------------------------
This week is dominated by a tidal wave of earnings announcements
with the majority reporting between Tuesday and Thursday.  The
economic schedule is light and will be overshadowed by corporate
guidance looking forward.


==============================================================
                       -For-

----------------
Monday, 07/19/04
----------------
Semiconductor Book-to-Bill report


-----------------
Tuesday, 07/20/04
-----------------
Housing Starts (BB)        Jun  Forecast:   2000K  Previous:    1967K
Building Permits (BB)      Jun  Forecast:   2000K  Previous:    2097K


-------------------
Wednesday, 07/21/04
-------------------
Federal Reserve Governor Santomero speaks


------------------
Thursday, 07/22/04
------------------
Initial Claims (BB)      07/16  Forecast:     N/A  Previous:      N/A
Leading Indicators (BB)    Jun  Forecast:    0.3%  Previous:     0.5%


----------------
Friday, 07/23/04
----------------
None


Definitions:
DM=  During the Market
BB=  Before the Bell
AB=  After the Bell
NA=  Not Available


======================================================
  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                 73.12    +1.32
COP     Conocophillips             79.50    +0.58
UNH     Unitedhealth Group Inc     65.64    -0.07
UTX     United Technologies Corp   90.79    -0.21
BK      Bank of New York Co Inc    28.79    +0.68
PBR     Petroleo Brasileiro Sa     29.20    +1.20


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

FCS     Fairchild Semiconductor    14.29    -0.21
FLSH    M-Systems Flash Disk Pio   15.22    +0.50


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

RIO     Companhia Vale Do Rio Doce 53.95    +1.94
AAPL    Apple Computer Inc         32.20    -0.73
WFT     Weatherford Intl Ltd       47.72    +0.77
TCB     TCF Financial Corp         59.45    +0.31
IFIN    Investors Fin Svcs Cp      43.87    +1.72


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

PFE     Pfizer Inc                 32.38    -0.20
PEP     Pepsico Inc                52.30    +0.38
UBS     UBS Ag Ord. Shares         67.48    +0.82
DB      Deutsche Bank Ag           72.00    -0.26
FITB    Fifth Third Bancorp        50.18    -0.32


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

None


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