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Daily Newsletter, Sunday, 07/25/2004

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PremierInvestor.net Newsletter          Weekend Edition 07-25-2004
                                                    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:       Ready, Set, Wait
Market Sentiment:  The Democrats are coming!  The Democrats are
    coming!
Watch List:        Security to Chips and more!

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
        WE 7-23         WE 7-16         WE 7-09         WE 7-02
DOW     9962.22 -177.56 10139.8 - 73.44   10213 - 69.61 - 89.01
Nasdaq  1849.09 - 34.06 1883.15 - 63.18 1946.33 - 60.33 - 18.81
S&P-100  530.38 -  5.52  535.90 -  6.73  542.63 -  4.54 -  2.58
S&P-500 1086.20 - 15.20 1101.40 - 11.41 1112.81 - 12.57 -  9.05
W5000  10553.82 -178.04 10731.9 -110.82   10842 -154.87 - 76.05
SOX      405.58 -  4.88  410.46 - 40.68  451.14 -  6.17 - 21.60
RUT      539.22 - 16.26  555.48 -  8.25  563.73 - 18.99 -  4.98
TRAN    3043.44 - 44.89 3088.33 +  0.36 3087.97 - 58.20 - 18.01
WE = week ending
=================================================================

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

Ready, Set, Wait
by Jim Brown

After a terrible week for the major indexes we closed at
critical support levels and very close to lows for the
year. The markets are poised to wait out the Democratic
convention in hopes it will pass uneventfully. If it does
we are poised for a rebound until the next event on August
13th when the Olympics begin. The waiting game for the
convention will begin on Monday.

There were no economic reports on Friday and I doubt the
markets would have paid attention anyway. The focus on
Friday was earnings and convention and both were negative.

Microsoft fell -1.00 to $28.05 and closed at the low for
the day as their earnings report was picked apart. The
big news was the anticipated decline in earnings due to
the drop in interest income after they make their big
payout. With $32 billion due to be paid out this year
Microsoft had to shift from longer-term instruments into
short term investments as they readied the cash for final
distribution. Their earnings reported nearly -$500 million
in derivatives losses for the quarter related to the money
shuffle. While that sounds like a lot of money it is only
a drop in the bucket for Microsoft. However after doling
out the cash Microsoft will lose one component of their
earnings for the future. Last year Microsoft reported a
+21% increase in earnings. Fully 10% of that number was
from interest income. This suggests future earnings must
overcome that 10% hit before breaking even. This was part
of the cause for Friday's loss. The stock has made a
complete round trip this week with a strong bounce on
Wednesday after the dividend news and the drop on Friday
took it all back.

Microsoft Chart




Another earnings disaster was Amazon, which dropped -5.84
on Friday after reporting earnings that missed estimates.
The challenge for Amazon was falling sales. Amazon said
sales in North America, its traditionally strongest
market, only rose +9% for the quarter. Sales actually
fell in some overseas markets for the first time in
recent memory. Amazon raised revenue guidance for Q3
but did not raise earnings guidance. This suggests
margins are being squeezed and the free shipping program
so critical as a sales tool is beginning to impact those
falling margins. Prudential reiterated their price target
of $30 on AMZN, -$9 from Friday's close. Piper Jaffray
rated the stock an underperform. Clearly the bloom is
rapidly fading from the Amazon rose.

Amazon Chart




Coke was yet another disappointment with sales growth of
only a meager +1% and earnings guidance well below estimates.
Coke was KO'ed for a loss of -3.80 on Friday and proved
that you do not have to be a tech stock to invoke investor
anger. Coke is also the target of a criminal investigation
into allegations of inflating overseas sales to make
earnings in the past.

Coca Cola Chart




Maytag reported sales revenue that dropped -1% on weak
appliance sales and a strong loss from cost cutting.
They posted only +9 cents a share and missed analyst
estimates by -30 cents. The weakness in appliance sales
is yet another sign that consumers are hoarding cash
and keeping their wallets on their hip. MYG dropped
-2.07 on the news to $19.17.

Maytag Chart




After Thursday's earnings 242 S&P companies have reported
earnings and 169 beat estimates, 47 reported inline and
26 missed estimates. Last year at this time the numbers
were 206, 7 and 29. Clearly there is a shift away from
the high end after expectations became too optimistic.
Earnings warnings on future guidance by numerous big
name companies have soured investor appetites for stocks.
It is not that earnings are bad, they are far from it at
+24.4% in year over year Q2 gains. These are very strong
gains but the challenge is not what companies are reporting
but what they are saying. It appears these earnings are
not sustainable and the decline back to single digits
could come faster than expected.

The gloom and doom from the earnings slow down pushed the
Dow to its lowest close since May-24th at 9962 and a new
intraday low for July at 9932. The Dow is only one sell
program away from making a new closing low for the year
at 9906. The Nasdaq has already performed this feat with
the 1849 close on Friday. Not only was it a new closing
low for the year but also a new low. Also jumping on the
bandwagon was the SOX with a new dual low for the year
at 405.

Dow Chart - Daily


Nasdaq Chart - Daily


SOX Chart - Daily



We all know this market depression is not based entirely
on earnings but also on the terror threat to the Democratic
convention next week. Headlining the news today was a FBI
announcement that there was a plot to disrupt media
coverage of the convention by blowing up and setting fire
to media vans. While this was discouraging it was far
from the critical event anticipated from groups like al
Qaeda. Reportedly the media attack was coming from a
domestic group and not overseas terrorists. The market
sold off all week purportedly on earnings but always with
an eye on coming events.

Not only do we have the Democratic convention next week
we have the Olympics beginning on August 13th, just two
weeks after the Democratic convention is over. In the
U.S. the convention is an important symbol but globally
the Olympics is a far bigger target and one far harder
to protect. With hundreds of thousands of attendees
heading to Athens the potential for multiple deadly
attacks is very strong. Right in the middle of these
events we have another Fed rate hike on the table on
August 10th. This is creating a virtual mine field for
the markets to traverse over the next four weeks.

Reports out on Friday suggested funds are sitting on
abnormally high amounts of cash both for protection
against an event drop and to be able to take advantage
of any opportunity an event creates. Several funds
currently sitting on piles of cash include Long Leaf
Partners at 29%, Clipper 26%, Weitz Value at 28% and
FBA at 30%. These funds have billions under management
and they are holding billions in cash. Multiply this
even in moderate terms over the 11,000 funds and you
have a virtual mountain of cash on the sidelines.
This cash is ready for a market event but what if
no event occurs?

It seems clear to me that a lot of this cash will be
put back to work in the market once the convention is
over with even more going into equities after the
Olympics. This is setting up a potential rebound from
these lows as soon as next week. With the convention
over on the 29th we have about a two week window where
we could see a summer rebound before the calendar
heats up again.

This does not mean we are going to the moon or even
back to the midrange of our recent travels. I am just
suggesting we could see some money put back to work
and I want to capitalize on that potential.

We still have some serious technical market problems
that have to be addressed. The S&P has been trading
under the 100dma for three weeks and Friday's close
at 1086 was a new two month low and -20 points under
the 200dma. These bearish technicals could continue
to keep pressure on fund entries. Don't forget Sept
and Oct are two of worst months of the year on a
historical basis. Unfortunately August has been the
worst month for the last 15 years on the Dow and SPX
and second worst on the Nasdaq. While September and
October are remembered for major bottoms August is
just remembered for being down. Over the last seven
years the markets have averaged a -4% lost in the
last five days of the month. Add in the August event
risk and the odds are good any post Democratic
convention rebound will not be earth shaking. We
have piles of cash on the sidelines but the majority
of that cash is likely frozen until September.

What this means for next week is the potential for a
range bound market on very low volume as everybody watches
the news channel rather than the stock channel. As the
week progresses we could begin to see some bargain hunting
which could accelerate if we get a further dip to the
May lows on the Dow. I hesitate to mention the potential
for a rebound because there are so many factors at work
but the potential is still there. The qualification
remains the terror risk. We all know that the convention
site is very well protected with major streets blocked
off on all sides for blocks in every direction. However,
terrorists do not have to hit the convention itself to
be successful. Putting an airplane in the side of the
John Hancock tower would bring everything to a crashing
halt. A few car bombs at critical intersections would
also make their point. It does not have to be an attack
on the fortress of the convention itself so investors
can't afford to be aggressive in reentering the market
until it is over.

This is a week for waiting and watching and praying and
not necessarily a week to rush into the markets. Keep
your eyes open for good stocks punished with the rest
of the crowd and be ready for an end of week uptick.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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

The Democrats are coming!  The Democrats are coming!
- by Jeff Bailey

The major indices finished at their lows of the week, where an
FBI warning that its field office in Boston, Massachusetts,
received "unconfirmed" information that a domestic group is
planning to disrupt the Democratic National Convention by
attacking media vehicles with explosives or incendiary devices, did
little to improve negative market sentiment.

Starting Monday, and running through Thursday, the Democratic
Party is scheduled to hold its convention in Boston,
Massachusetts, where Senator John Kerry will officially receive
the party's nomination to run for the presidency against
President George W. Bush in the November elections.

Friday's FBI warning spooked investors and sent the dollar higher
against other major foreign currencies with the U.S. Dollar Index
(dx00y) 89.26 +0.91% reclaiming its trending lower 200-day SMA
(89.27) and correlative 50-day SMA (89.24).

Friday's FBI warning followed a warning weeks ago from The
Department of Homeland Security that it had gathered intelligence
from various Federal agencies that terrorist seemed intent on
launching a some type of attack on the homeland in an attempt to
influence this year's elections.

Treasuries finished at their highs of the session, but smack in
the middle of this week's range with the benchmark 10-year yield
($TNX.X) moving down 3.0 basis points on Friday to settle out
with a 4.432% yield.

It was a week that traders and investors seemed to be "focused on
the negative," where corporate outlooks after earnings were
largely positive, seemed to not meet loftier expectations of
investors, where the acceleration of earnings in percentage
terms, is now being revealed as at slower rates of growth.

I (Jeff Bailey) do think next week's Democratic Convention could
impact investor psychology.  Will the Democrat's message be
positive and clearly outline how a Kerry administration will be
an improvement over the current Bush administration?  Or will
Democrats tell America, and investors across the globe only about
problems?

It's politics, and I think we should expect not only some finger
pointing by the Democrats, but investors will want some clearly
outlined message as to what actions a Kerry administration would
put in place if elected.

Of late, the Kerry camp has been less inclined to fall back on
the "we were lied to..." rhetoric when discussing the war in
Iraq, after it was learned in late June that there was a link
between Iraq and Niger for Niger to have sold a large quantity of
yellow cake to Iraq.  The news gave credence that President Bush
wasn't lying in his state of the union address, nor was Prime
Minister Tony Blair regarding his country's intelligence.

There's an old saying, "the market hates uncertainty," and
there's clearly some mixed messages coming from the markets at
this point in time.  With polls showing nearly a dead heat
between Bush and Kerry, there are great differences between
current policy and those that have been discussed by the Kerry
camp.

The economy will undoubtedly be a topic of discussion at the
Democratic convention, as well as policy in the middle-east,
specifically in Iraq.

How does all of this impact market psychology/sentiment, and create
uncertainty?

Simple.  On one hand the market knows what it is dealing with (Bush
administration) and on the other hand, lets call it "the left
hand," there is hope of a fresh start, new policies, but the
uncertainty of what these new policies (to be outlined at the
Democratic convention) could have on global economies.

The last time I (Jeff Bailey) filled in for James Brown in this
Market Sentiment column, (May 18, 2004) "Pay at the Pump," June
Crude Oil futures were trading $40.50 after spiking to contract
highs of $41.85 that week.

On Friday, September Crude Oil futures (cl04u) settled at $41.71.

It was my thought on May 18, 2004 that higher oil prices were
weighing negatively on sentiment.

Sentiment, which is an EMOTION.

Some Facts from the Markets:

Trucker Yellow Roadway (NASDAQ:YELL) $41.56 +4.44% traded a new
52-week high this week, up 24.6% from its May 18 close, where
solid quarterly earnings had the company's CEO saying "the
economy is humming," and added that "oil prices not a factor,"
when asked if high fuel prices were a threat to transporters as
they pass along higher fuel prices to customers.

While factual earnings and strong statements from a trucking
company are making headlines, commercial airliner Delta
(NYSE:DAL) $5.59 is thought to be on the verge of bankruptcy as
it trades up 44 cents, or 8.5% from its May 18 close as a
competitive fare environment, heavy debt, and higher fuel prices
has the company burning cash reserves and losing money.

As a sector, the transports give a very mixed message toward the
ECONOMY, versus market SENTIMENT.  Truckers like YELL, CNF, air freight
transporters like Fedex (FDX) $80.57 -0.73%, all which traded 52-week
highs this week, seem to be saying that the economy is strong enough to
shrug off higher energy prices.

Commercial airliners, however do seem to be reflecting a base
consumer (you and I) showing some price sensitivity, where
perhaps, price increases, to offset higher fuel prices just isn't
an alternative for the commercial airliners at this point.

As a whole, the Dow Transportation Average (TRAN) 3,043 closed
just ABOVE it rising 50-day SMA (3,029) and well above its 200-
day SMA (2,937).  Market theorists will say the Transports give
important insight to the strength/weakness of an ECONOMY.

Meanwhile, the Securities Broker Dealer Index (XBD.X) 117.13
-0.87%, which market theorist's say give important insight to
strength/weakness of the equity markets, traded BELOW it 200-day
SMA (132), its 50-day SMA (124) and shorter-term 21-day SMA
(121), and not unlike the major indices, which now trade at their lows
of 2004.

Conclusions:

MARKET SENTIMENT IS NEGATIVE.  ECONOMY IS STRONG and GROWING

It is said that MARKETs are "all knowing", and are forward
looking.  I believe this to be true.

You can tell a 250 pound football player that he can lift a 25-pound
weight, but if HE doesn't believe he can lift it because the sports
reporter wrote "he can't carry the team, let alone a cheerleader's
pompom," then that same 250 pound football player isn't going to
attempt to prove you're correct, and that he CAN lift the 25-pound
weight.

Right now, stock MARKET sentiment is weak enough, it's not convinced it
can do any lifting.

This week, keep a very close eye on the VERY WEAK Securities
Broker Dealer Index (XBD.X) 117.13 as the Democrats outline what
they have in plan for U.S. citizens.

Will Wall Street get "comfortable" with a Democrat strategy?
Remember, Wall Street already knows what the Republican strategy
is, and has seen this strategy "at work" for over 3 years.  If I
(Jeff Bailey) were looking for a SENTIMENT indicator, it would be
the brokers.

While my May 18th Market Sentiment focused on higher oil prices
as being a major contributor toward negative market sentiment
(stocks did rebound from their May lows when oil fell to $36),
the economically sensitive truckers, if not the Dow
Transportation Average ($TRAN) as a whole, seem to be depicting a
STRONG economy, despite higher energy/fuel prices.

However, the brokers may well have, or continue to reflect,
current market SENTIMENT, as it relates to uncertainty
surrounding this year's elections.

It has been stated that roughly 80% to 90% of market participants
are "buy side" investors, meaning they either buy stocks to
profit from higher price action, or they sell stocks to only
raise cash, with no profit motive in mind, but as an aversion to
losses.

Please make what I feel an IMPORTANT distinction where the
brokers may be reflecting current and FUTURE SENTIMENT, where as
the transports may be reflecting ECONOMIC strength/weakness.

This week's key events:

The Democratic National Convention:  Impact= SENTIMENT -
Discussed above.  Impact is largely on MARKET sentiment.
Tone/message will be important.  If message is "Bush is taking
the U.S. (you, me, the economy, even the world) in the wrong
direction, then a vote for me (Mr. Kerry) is your next-best
alternative," then sentiment will likely remain negative.
However, if the tone/message is "These are the things we
(Democrats) look to change and these will be the benefits for
America," then market SENTIMENT could improve.

June Durable Orders :  Impact= SENTIMENT - On Wednesday, June
28th economists forecast a rebound in durable goods orders.
These are big-ticket items.  After falling 1.6% in May,
economists forecast a 2.5% gain in June.  Recent regional
manufacturing surveys showed a rebound in their July readings and
manufacturing activity, while June's 0.2% decline from the
Conference Board's leading indicators (released on Thursday)
sends a mixed message.  With talk of economic slowdown beginning
to surface so quickly after "Fed too stimulative, needs to
aggressively raise interest rates," a rebound in June durable
goods orders could ease negative SENTIMENT (see brokers) and give
some confirmation to what transports seem to be saying.

Advanced Q2 GDP:  Impact= SENTIMENT - On Friday, June 30th
economists are forecasting the economy grew at a 3.7% annual
rate, which would show slowing growth from the 3.9% annual rate
in Q1.  I (Jeff Bailey) would be BULLISHLY surprised if Q2 GDP
came in ABOVE the Q1 GDP of +3.9%.  In prior Ask the Analyst
columns and Index Trader Wraps, I discussed my (Jeff Bailey's)
forward looking thoughts as to the impact the rather sharp rise
in Treasury yield into early May (right in the middle of Q2 GDP)
might have on HELPING slow the then worrisome fast rate of
economic growth, and the then "fear of inflation."  I (Jeff
Bailey) would be BEARISHLY surprised if Q2 GDP came in below
3.5%.  I am NOT the market, but the markets might also respond
according should SENTIMENT worsen, or improve.

July Chicago PMI:  Impact= SENTIMENT - Also on Friday, June 30th,
economists look for the regional Chicago Purchasing Manager'
Index to rebound to 60.0 in July from June's 56.4 reading, and
echo recent July New York Empire and July Philadelphia Fed
rebounds.  Market participants put greater weight in the Chicago
PMI than the New York Empire reading ahead of the national ISM
Purchasing Managers' Index, where July's figures will be released
on August 2nd (forecast 61.5 vs. June's 61.5).

July Revised Univ. Mich. Sentiment:  Impact= SENTIMENT -  Also on
Friday, usually little changed from the preliminary release.
Economists' look for a fractional upward revision to 96.1 from
96.0.

Final comments:

This is a MUCH longer Market Sentiment column than you are
probably used to reading, but I'm combining some SENTIMENT
analysis with questions I received this week, that I would have
liked to address in the Ask the Analyst column.

Why are transports acting strong, despite higher oil prices?
Why are brokerage stocks weak, while regional banks have been
holding up?  Where would you look for a bullish entry on Bank of
America (BAC) ahead of its 2-for-1 stock split.  I am wondering
why you are writing covered calls on SWC with the stock now
testing its support line ($14.50)?  Are you thinking that SWC is
susceptible to recession talk and could lose its support?  Why
are stocks declining to their May lows, while junk bonds are
still holding well off their May lows.

Remember:  SENTIMENT is an emotion.  It doesn't always reflect
reality and like any emotion, can change quickly in the opposite
direction and bite you, or continue to levels unimagined (bullish
and bearish).

Judging or analyzing sentiment is analogous to petting a
unfamiliar dog.

You probably heard the joke about the guy named Jerry that walks
up to another guy named Jim, looks down at the dog sitting beside
Jim, and Jerry asks, "does your dog bite?"  Jim says, "nope."
Jerry then reaches down to pet the dog, and gets his hand bitten
by the dog.

"I thought you said your dog doesn't bite!" screams Jerry.  Jim
smiles and says, "That's not my dog."

OK... that's a heck of a story to try an put things in context,
but with the brokers trading below their May lows, and seemingly
pulling the major indices along for the ride lower, the brokers
may well be a SENTIMENT indicator we can visually follow.

You're right!  It doesn't make sense that transports can be
bucking higher fuel prices.  It doesn't necessarily make sense
that banks can be trading strong, while brokers trade weak.  It
doesn't make sense that high risk junk bonds can hold gains from
there May lows, while equities test those same lows.

And Jerry.... it doesn't make sense that you didn't ask Jim if
that was his dog.

Will SENTIMENT improve?  Maybe the brokers are the ones to ask.



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

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  8997
Current     :  9962

Moving Averages:
(Simple)

 10-dma: 10126
 50-dma: 10211
200-dma: 10213


S&P 500 ($SPX)

52-week High: 1163
52-week Low :  960
Current     : 1086

Moving Averages:
(Simple)

 10-dma: 1103
 50-dma: 1116
200-dma: 1105


Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1204
Current     : 1375

Moving Averages:
(Simple)

 10-dma: 1407
 50-dma: 1446
200-dma: 1447


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

CBOE Market Volatility Index (VIX) = 16.50 +0.75
CBOE Mkt Volatility old VIX  (VXO) = 16.63 +0.81
Nasdaq Volatility Index (VXN)      = 23.91 +1.47


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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.81        566,657       460,356
Equity Only    0.63        473,413       297,719
OEX            0.94         19,878        18,635
QQQ            0.65         36,803        23,889


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

Bullish Percent Data

           Current   Change   Status
NYSE          62.1    - 1     Bear Confirmed
NASDAQ-100    35.0    + 0     Bear Confirmed
Dow Indust.   56.6    - 3     Bear Confirmed
S&P 500       55.4    + 0     Bear Confirmed
S&P 100       57.0    - 1     Bear Confirmed



Bullish percent measures the number of stocks in an index
currently trading on a buy signal on their point and figure
chart.  Readings above 70 are considered overbought, and readings
below 30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - Pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend


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

 5-dma: 1.22
10-dma: 1.33
21-dma: 1.34
55-dma: 1.13


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     858       813
Decliners    1928      2184

New Highs      17        20
New Lows       74       199

Up Volume    335M      225M
Down Vol.   1241M     1423M

Total Vol.  1588M     1659M
M = millions


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

Commitments Of Traders Report: 07/20/04

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 have upped their short positions a tad while
reducing their longs by nearly the same amount.  Yet the change
is rather insignificant.  Small traders pared back their shorts
by a very small amount and remain net bullish.


Commercials   Long      Short      Net     % Of OI
06/29/04      405,273   413,351   ( 8,078)   (0.9%)
07/06/04      402,952   416,526   (13,574)   (1.7%)
07/13/04      407,166   416,869   ( 9,703)   (1.2%)
07/22/04      404,828   419,017   (14,189)   (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
06/29/04      129,978    94,535    35,443    15.7%
07/06/04      132,423    90,748    41,675    18.7%
07/13/04      133,935    95,787    38,148    16.6%
07/22/04      138,123    94,990    43,133    15.5%

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

There is some interesting action in the e-minis.  Commercial
traders significantly added to their long positions, which
reduced their overall net bearish stance to the lowest level
in weeks.  Small traders, in contrast, reduced their longs
and added to their shorts.  This could be viewed as a
bullish move in sentiment except institutional traders remain
net bearish.


Commercials   Long      Short      Net     % Of OI
06/29/04      258,443   447,505   (189,062)  (26.7%)
07/06/04      287,442   423,583   (136,141)  (19.1%)
07/13/04      265,142   427,017   (161,875)  (23.4%)
07/22/04      309,972   428,240   (118,268)  (16.0%)

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
06/29/04      236,492     47,780   188,712    66.3%
07/06/04      219,321     58,567   160,754    57.8%
07/13/04      225,410     57,699   167,711    59.2%
07/22/04      212,078     62,416   149,662    54.5%

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


NASDAQ-100

Very little action in the commercial traders with similar
additions to both longs and shorts.  Meanwhile small traders
upped their longs and reduced their shorts and that significantly
reduced their overall bearish posture.


Commercials   Long      Short      Net     % of OI
06/29/04       41,078     37,194     3,884    4.9%
07/06/04       42,245     37,343     4,902    6.2%
07/13/04       44,211     37,007     7,204    8.9%
07/22/04       45,069     37,975     7,094    8.5%

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
06/29/04        7,437    11,904    (4,467)  (23.1%)
07/06/04        9,345    16,527    (7,182)  (27.8%)
07/13/04        7,847    15,243    (7,396)  (32.0%)
07/22/04        9,398    11,776    (2,378)  (11.2%)

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

Almost no change in positions for commercial traders but
small traders have pared back their bearish positions.


Commercials   Long      Short      Net     % of OI
06/29/04       27,278    20,512    6,766      14.1%
07/06/04       27,214    20,775    6,439      13.4%
07/13/04       27,773    20,573    7,200      14.9%
07/22/04       27,957    20,389    7,568      15.7%

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
06/29/04        4,930     7,682   (2,752)   (21.8%)
07/06/04        5,969     8,227   (2,258)   (15.9%)
07/13/04        5,292     9,068   (3,776)   (26.3%)
07/22/04        4,857     7,297   (2,440)   (20.1%

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

Security to Chips and more!

Brinks Company - BCO - close: 31.80

WHAT TO WATCH: We've mentioned BCO before.  The stock is a strong
example of long-term relative strength with a rising channel
stretching back to August 2003.  Once again BCO is near the
bottom of its channel and technical support at the simple 50-dma.
Once again the tug of war between bears and bulls commences.
Will BCO rebound again from the bottom of the channel or
breakdown down and prompt a wave of profit taking?  That's why
it's on the watch list.  We'd be tempted to consider new bullish
positions on a move above $33.00 with a $36 target.




---

Waters Corp - WAT - close: 45.71 change: +0.14

WHAT TO WATCH: WAT is uncommon in that the stock has been able to
maintain its rising channel for the last several months in spite
of all the market volatile and/or trading range.  Yet now the
stock is oscillating near the bottom of its channel and it looks
poised to breakdown through support at $45.00.  The intraday
bounce from Thursday failed to see any follow through on Friday.
We would watch carefully for a drop through Thursday's low
(44.66) or the $44.00 level and use such a move as a potential
bearish entry point.  More importantly wait for earnings on July
27th.  We would not hold over the event.




---

DuPont Photomasks - DPMI - close: 15.92 change: -0.46

WHAT TO WATCH: After seven weeks of consecutive losses shares of
DPMI are closing at all-time lows.  This semiconductor stock's
P&F chart is bearish but it has almost reached its price target
near $15.  Surprisingly the declines follow DPMI's earnings
report where the company beat estimates and came in higher on the
revenue numbers.  We'd look for a bounce back to the $17.00-17.50
level and consider shorting it on a failed rally.  Use a tight
stop.




---

Infinity Property & Casualty - IPCC - cls: 27.86 chg: +0.17

WHAT TO WATCH: This insurance stock has fallen through the bottom
of its trading range and key support a the $29 and $28 levels.
The bearish breakdown is very clear on its weekly chart and its
P&F chart displays a new triple-bottom breakdown sell signal with
a $19.00 price target.  While we think this looks like a tempting
entry point we're adding it to the watch list because the company
is due to report earnings on July 27th.





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

RSAS $17.08 -1.56 - Is the sell-off overdone in RSAS? Shares are
bouncing from their simple 200-dma and near the bottom of its
rising channel.

AMD $12.12 -0.52 - We still think AMD looks like a bearish
candidate and a drop through the $12.00 mark would be a tempting
entry point.  Unfortunately, the SOX looks so oversold we don't
want to be caught in the bounce.

WWW $22.62 +0.16 - The breakdown under the 200-dma looks bad but
watch for a drop through support at $22.00.


=================================================================
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 07-25-2004
                                                    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:  BOBJ, CCBL, CMTL


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


High Risk/Reward
  New Bearish Plays:     ENDP
  Bearish Play Updates:  FLML


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

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

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

Business Objects - BOBJ - close: 19.53 chg: -0.64 stop: 21.01

We have good news and bad news to report on for BOBJ.  The good
news for those who missed the Tuesday newsletter is that we are
triggered in BOBJ.  The stock gapped down last Tuesday at $19.77,
which was under our trigger to go short at $19.80.  The stock
continued to churn sideways oscillating around the $20 mark but
reaction to MSFT's earnings news and the 2.33 percent drop in the
GSO software index on Friday may have finally producing a lasting
breakdown for us.  BOBJ gapped open lower on Friday and the
rebound failed under the $20 level.  Shares look poised to hit
new lows.  Now the bad news.  BOBJ is expected to report earnings
after the bell on Wednesday.  There are so many unknown variables
in an earnings report and Wall Street's reaction to it that we do
not suggest holding over any earnings report.  We plan to close
the play on Tuesday afternoon.  More aggressive traders can try
and ride it into Wednesday afternoon ahead of its report.
We do not suggest new entries at this time.

Annotated Chart:



Picked on July 21 at $19.77
Gain since picked:   - 0.24
Earnings Date      07/28/04 (confirmed)
Average Daily Volume:    933 thousand



---

C-COR.net - CCBL - close: 7.88 chg: -0.28 stop: 8.51

This is it!  After another week of consolidating along support at
the $8.00 level CCBL has finally broken down.  It teased us on
Thursday with a dip to $7.96 but Friday's 3.4 percent drop
actually traded at and closed below our entry point at $7.95.
Short-term technicals like the RSI and stochastics are bearish
and its P&F chart is very close to producing a new sell signal.
(it needs a trade under $7.50).  Given the weakness in the NASDAQ
we can probably expect tech stocks to lead us lower next week.
Our initial stop loss is $8.51 and we're targeting a move to the
$6.00 range.

Annotated Chart:



Picked on July 23 at $ 7.95
Gain since picked:   - 0.07
Earnings Date      08/19/04 (confirmed)
Average Daily Volume:    621 thousand



---

Comtech Telcom - CMTL - close: 18.63 change: -0.53 stop: 20.51

Thus far so good for CMTL.  We added the play to the tech stock
short list on Wednesday after its bearish reversal under the $20
mark.  Thursday proved to be volatile but resistance at $20.00
held true.  Now Friday's 2.7 percent drop looks like confirmation
of the recent bearish trading activity.  Short-term technicals
are turning lower again and its P&F chart continues to retreat
from testing resistance.  We are going to leave our stop at
$20.51 for now and we will continue to target a move to the $15-
16 range.

Annotated chart:



Picked on July 21 at $19.20
Gain since picked:   - 0.57
Earnings Date      06/08/04 (confirmed)
Average Daily Volume:   400 thousand




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

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

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

Dollar Tree Stores - DLTR - close: 26.30 chg: -0.66 stop: 27.75

Company Description:
Dollar Tree Stores, Inc. is the nation's leading operator of
discount variety stores offering merchandise at the $1.00 price
point. Our stores are designed to be the modern day equivalent of
the traditional variety store. We offer a wide range of quality
everyday general merchandise in many categories, including
housewares, seasonal goods, candy and food, toys, health and
beauty care, gifts, party goods, stationery, books, personal
accessories, and other consumer items. We operate over 2,400
stores in both strip centers and malls in 47 states. Stores
operate under the names of Dollar Tree., Dollar Bill$., Only
$1.00, ONLY $ONE., Dollar Express and Greenbacks
 (source: company press release)

Why We Like It:
The entire $1.00 store niche has been a weak spot in the market
for months.  After two months of consolidating lower under its
simple 100-dma and above the $26 level we feel that DLTR is ready
for another drop.  With the downtrend firmly in place we just
need to catch the next wave of momentum.  DLTR's P&F chart is
bearish with a $17.00 price target.

We suggest readers use a TRIGGER at $25.95 to catch a breakdown
under support at $26.00.  We'll target a move to the $22-20
range.  If triggered we'll start the play with a stop loss at
$27.75.

FYI: If you agree that the industry is weak but you don't like
the trade set up for DLTR consider shorting rival NDN.  Shares of
NDN have been consolidating sideways in a tight $2.00 range for
six weeks.  Friday's decline put it under support at the $14.00
level and the next support level is probably the $11.50 area.

Annotated Chart:



Picked on July xx at $00.00 <-- see TRIGGER
Gain since picked:   - 0.00
Earnings Date      08/25/04 (unconfirmed)
Average Daily Volume:   1.5 million




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

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

Williams Cos - WMB - $12.05 change: +0.09 stop: 11.79

Natural gas stocks have not been immune to the market-wide
selling this past week.  Shares of WMB fell sharply from a
bullish breakout to test support at its 50-dma again.
Fortunately, that support held up and now shares are rebounding
back above the $12.00 level.  We are willing to consider new
bullish positions here but it would be prudent to confirm market
direction. With the Industrials under the 10K level we don't know
whether this is a bear trap or the beginning of a new leg down
for the markets and it's a tough environment to consider bullish
plays.  Optimistic chart readers will note that WMB's short-term
technicals are already hinting at a bullish turnaround. In the
news WMB confirmed that its earnings report will be released on
August 5th.  That gives us two weeks before we'll be forced to
exit.

Annotated Chart:



Picked on July 18 at $12.48
Gain since picked:   - 0.43
Earnings Date      08/05/04 (confirmed)
Average Daily Volume:   3.3 million




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

Fred's Inc - FRED - close: 17.98 change: -0.37 stop: 19.01*new*

Our bearish play in FRED continues to look strong.  Shares have
been channeling lower in a narrow range for at least three weeks
now.  Traders are selling every bounce attempt and we're quickly
approaching our initial target at $17.50.  We suggest that
readers prepared to exit or at least take partial profits if and
when FRED trades at $17.50.  One way to play this is to sell half
or a majority of any position for a profit and keep a small
speculative position open should FRED continue to sink and we'll
use a tight stop.  The stock is very oversold and due for a more
significant rebound so we would not suggest new positions at this
time.  We are lowering our stop loss to $19.01.

Annotated Chart:



Picked on July 12 at $19.66
Gain since picked:   - 1.68
Earnings Date      08/19/04 (unconfirmed)
Average Daily Volume:   924 thousand




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


  --------------------
  Closed Bullish Plays
  --------------------

Sempra Energy - SRE - close: 34.83 change: -0.62 stop: 33.99

Uh-oh! The action in SRE is looking pretty ugly.  Wednesday's
session produced a large bearish engulfing candlestick and the
Thursday-Friday action has confirmed the reversal.  The selling
pressure that has been sweeping across the market the last three
days has hit every sector and traders have been selling their
winners like those in the natural gas sector.  We're discouraged
by the close under the $35 level.  There is a chance that SRE
could bounce from $34.50 or support at $34.00 but we're going to
play it safe and exit now to keep our losses at a minimum.  We
can always jump in again if we see a confident rebound.

Picked on July 18 at $35.45
Gain since picked:   - 0.62
Earnings Date      08/05/04 (unconfirmed)
Average Daily Volume:   909 thousand




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

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

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

Endo Pharmaceuticals - ENDP - cls: 19.98 chg: -0.49 stop: 21.01

Company Description:
A wholly owned subsidiary of Endo Pharmaceuticals Holdings Inc.,
Endo Pharmaceuticals Inc. is a fully integrated specialty
pharmaceutical company with market leadership in pain management
products. The company researches, develops, produces and markets
a broad product offering of branded and generic pharmaceuticals,
meeting the needs of healthcare professionals and consumers
alike. (source: company press release)

Why We Like It:
The action in ENDP appears to be getting weaker.  The company
recently announced earnings that were inline and raised guidance
for the rest of 2004.  Unfortunately, while ENDP did raise their
own estimates from previous guidance they're still under
consensus analysts' estimates.  The company also announced
recently it was paying British drug maker Vernalis for exclusive
rights to market their Frova migraine drug in N. America in a
deal worth upwards of $405 million.  Shares of Vernalis soared in
the U.K. but ENDP hasn't moved much.  The recent action in the
BTK biotech sector suggest the index is headed to test support in
the 440 region.  We think that ENDP's drop under round-number,
psychological support at $20.00 will only get worse if the BTK
does lead lower.

While more aggressive traders can consider shorts now under the
$20.00 mark we do see some support in the $19.50 range.
Therefore we want to use a TRIGGER at $19.49 to open the play for
us.  Until ENDP trades at this level or below we'll sit on the
sidelines.  If we are triggered we'll use a stop loss at $21.01.
The weekly chart suggest we can target a move to the $15-14 range
and this corresponds with the $14 target on the bearish P&F
chart.


Annotated Chart:



Picked on July xx at $00.00 <-- see TRIGGER
Gain since picked:   - 0.00
Earnings Date      07/14/04 (confirmed)
Average Daily Volume:   871 thousand




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

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

Flamel Technologies - FLML - cls: 18.08 chg: -0.42 stop: 20.06

The technology sell-off continues and while FLML isn't in "dive"
mode like the NASDAQ it is consolidating lower.  Before we
continue let us remind traders that we do not have a confirmed
earnings date for FLML.  The company could announce on Wednesday,
July 28 to early August.  We suspect they will announce on
Thursday July 29th but that's just a guess.  Since we do not like
to hold over an earnings report, even for bearish plays, we plan
to exit on Wednesday afternoon.  More conservative traders may
want to consider exiting now with FLML down 13 percent from our
entry point or consider exiting on Tuesday afternoon just in case
FLML reports on Wednesday morning.  Now back to looking at the
recent trading action.  FLML has actually produced a short-term
pennant of lower highs and higher lows.  While this is typically
a neutral pattern we're betting that the prevailing trend will
lead to a new drop lower.  We are going to leave our stop loss at
$22.06 but more conservative traders can use the 10-dma at $19.20
as a potential stop.   We do not suggest new entries at this
time.

Annotated Chart:



Picked on July 11 at $20.83
Gain since picked:   - 2.75
Earnings Date      07/29/04 (unconfirmed)
Average Daily Volume:   536 thousand




=================================================================
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 07-25-2004
                                                    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 26th, 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 26th
==========================================

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

Symbol  Co               Date           Comment      EPS Est

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

AFC    Allmerica Finl      Mon, Jul 26  After the Bell       0.58
AXP    Am Express Co       Mon, Jul 26  After the Bell       0.67
ANDW   ANDREW CORP         Mon, Jul 26  Before the Bell      0.13
ACI    ARCH COAL INC       Mon, Jul 26  Before the Bell      0.22
ASH    Ashland             Mon, Jul 26  Before the Bell      1.98
BBV    Banc Bilbao Vizcaya Mon, Jul 26  -----N/A-----         N/A
BOH    Bank of Hawaii Corp Mon, Jul 26  -----N/A-----        0.71
BEC    Beckman Coulter     Mon, Jul 26  Before the Bell      0.89
BLS    BellSouth Corp      Mon, Jul 26  Before the Bell      0.50
BSX    Boston Scientific   Mon, Jul 26  Before the Bell      0.45
CBT    Cabot               Mon, Jul 26  After the Bell       0.56
CSE    CAPITALSOURCE INC   Mon, Jul 26  After the Bell       0.23
CTX    Centex Corp         Mon, Jul 26  After the Bell       1.29
CHKP   Chk Pint Sftwr Tech Mon, Jul 26  Before the Bell      0.25
CTSH   Cognizant Tech Solu Mon, Jul 26  -----N/A-----        0.15
CCBI   Comm Capital BancorpMon, Jul 26  Before the Bell      0.24
CNX    CONSOL Energy       Mon, Jul 26  Before the Bell      0.23
MCM    Control Com MexicanaMon, Jul 26  After the Bell       0.28
EXBD   Corp Executive BoardMon, Jul 26  After the Bell       0.31
CVH    Coventry Health CareMon, Jul 26  Before the Bell      0.87
XRAY   DENTSPLY Intl Inc.  Mon, Jul 26  After the Bell       0.59
EXP    Eagle Materials Inc Mon, Jul 26  Before the Bell      1.20
ENH    End Spec Hldgs      Mon, Jul 26  Before the Bell      1.11
EPD    Ent Prod Partners   Mon, Jul 26  Before the Bell      0.23
FII    Federated Inv, Inc  Mon, Jul 26  After the Bell       0.46
FIA    Fiat S.p.A.         Mon, Jul 26  -----N/A-----         N/A
FCNCA  Frst Ctzns BncShrs  Mon, Jul 26  -----N/A-----         N/A
HMC    Honda Motor Co. Ltd Mon, Jul 26  -----N/A-----        0.36
HUM    Humana Inc.         Mon, Jul 26  Before the Bell      0.39
IP     Intl Paper Co.      Mon, Jul 26  Before the Bell      0.38
K      Kellogg Co.         Mon, Jul 26  Before the Bell      0.54
KRC    Kilroy Rlty Corp.   Mon, Jul 26  After the Bell       0.72
LRY    Liberty Prop Trust  Mon, Jul 26  After the Bell       0.81
NBP    No Border Partners  Mon, Jul 26  After the Bell       0.65
PRE    PartnerRe Ltd.      Mon, Jul 26  After the Bell       1.87
PSO    Pearson plc         Mon, Jul 26  Before the Bell      N/A
PBI    Pitney Bowes Inc.   Mon, Jul 26  After the Bell       0.61
PNM    PNM Resources       Mon, Jul 26  After the Bell       0.32
PFS    Provident Finl Serv Mon, Jul 26  Before the Bell      0.19
PVN    Providian Finl Corp Mon, Jul 26  -----N/A-----        0.22
PHM    Pulte Homes Inc.    Mon, Jul 26  After the Bell       1.43
RPM    RPM Intl Inc        Mon, Jul 26  Before the Bell      0.43
SLAB   Silicon Labs Inc.   Mon, Jul 26  After the Bell       0.38
SYD    Sybron Dental Spec  Mon, Jul 26  After the Bell       0.41
SWK    The Stanley Works   Mon, Jul 26  After the Bell       0.67
TNB    Thomas & Betts      Mon, Jul 26  After the Bell       0.28
TSN    Tyson Foods         Mon, Jul 26  Before the Bell      0.36
USPI   Un Surg Part Intl   Mon, Jul 26  After the Bell       0.35
UNA    UNOVA Inc.          Mon, Jul 26  Before the Bell      0.08
VLI    Valero L.P.         Mon, Jul 26  -----N/A-----        0.79
BER    W.R. Berkley        Mon, Jul 26  After the Bell       1.14
WRI    Weingarten Rlty Inv Mon, Jul 26  Before the Bell      0.61


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

ACE    ACE Limited         Tue, Jul 27  After the Bell       1.25
AFL    AFLAC Incorporated  Tue, Jul 27  After the Bell       0.56
AGU    Agrium, Inc.        Tue, Jul 27  After the Bell       0.48
AAI    AirTran Holdings    Tue, Jul 27  Before the Bell      0.16
AKAM   Akamai Technologies Tue, Jul 27  After the Bell       0.07
ALEX   Alexander & Baldwin Tue, Jul 27  After the Bell       0.56
AC     All Cap Mgmt HoldingTue, Jul 27  After the Bell       0.57
LNT    Alliant Energy      Tue, Jul 27  -----N/A-----        0.18
AIB    Allied Irish Banks  Tue, Jul 27  -----N/A-----         N/A
AW     Allied Waste Ind    Tue, Jul 27  After the Bell       0.18
AXE    Anixter Intl Inc.   Tue, Jul 27  -----N/A-----        0.39
ATH    Anthem, Inc.        Tue, Jul 27  Before the Bell      1.64
AJG    Arthur J. Gallagher Tue, Jul 27  After the Bell       0.47
ADP    Auto Data ProcessingTue, Jul 27  Before the Bell      0.35
AV     Avaya               Tue, Jul 27  After the Bell       0.12
BN     Banta Corp          Tue, Jul 27  After the Bell       0.62
ABX    Barrick Gold        Tue, Jul 27  Before the Bell      0.06
BP     Bp PLC              Tue, Jul 27  -----N/A-----        1.15
BTI    British Am Tobacco  Tue, Jul 27  Before the Bell      0.71
BNI    Brlngtn No Santa Fe Tue, Jul 27  Before the Bell      0.64
CECO   Career Education    Tue, Jul 27  After the Bell       0.34
CHH    Choice Hotels Intl  Tue, Jul 27  After the Bell       0.53
CB     Chubb Corp          Tue, Jul 27  After the Bell       1.58
CIN    Cinergy Corp.       Tue, Jul 27  Before the Bell      0.49
CHR    Converium Holding   Tue, Jul 27  Before the Bell       N/A
CREE   Cree Inc.           Tue, Jul 27  -----N/A-----        0.23
CSGS   CSG Systems, Inc.   Tue, Jul 27  After the Bell       0.23
DADE   Dade Behring        Tue, Jul 27  After the Bell       0.40
DFG    Delphi Finl Grp Inc.Tue, Jul 27  After the Bell       0.79
D      Dominion Resources  Tue, Jul 27  Before the Bell      0.80
RDY    Dr. Reddy's Labs    Tue, Jul 27  -----N/A-----         N/A
DD     DuPont              Tue, Jul 27  Before the Bell      0.80
EW     Edwards LifesciencesTue, Jul 27  After the Bell       0.41
ECA    EnCana Corp         Tue, Jul 27  Before the Bell      1.10
EC     Engelhard Corp      Tue, Jul 27  Before the Bell      0.48
EQY    Equity One          Tue, Jul 27  After the Bell       0.39
FOE    Ferro Corp          Tue, Jul 27  Before the Bell      0.35
FMC    FMC Corp            Tue, Jul 27  After the Bell       0.83
FTE    France Telecom      Tue, Jul 27  -----N/A-----         N/A
FDP    Fresh Del Monte ProdTue, Jul 27  Before the Bell      0.94
GGP    Gen Growth Prop     Tue, Jul 27  After the Bell       0.61
GSK    GlaxoSmithKline     Tue, Jul 27  -----N/A-----        0.74
HSC    Harsco Corp         Tue, Jul 27  Before the Bell      0.72
HHS    Harte-Hanks         Tue, Jul 27  Before the Bell      0.29
HSIC   Henry Schein        Tue, Jul 27  Before the Bell      0.85
IGL    IMC Global          Tue, Jul 27  Before the Bell      0.16
INGP   Instinet Grp Incorp Tue, Jul 27  Before the Bell      0.04
JKHY   Jack Henry & Assoc  Tue, Jul 27  After the Bell       0.19
JEC    Jacobs Engineering  Tue, Jul 27  -----N/A-----        0.51
JNY    Jones Apparel Grp   Tue, Jul 27  -----N/A-----        0.59
KIM    KIMCO RLTY CORP     Tue, Jul 27  Before the Bell      0.87
KRON   Kronos Incorporated Tue, Jul 27  After the Bell       0.33
LLL    L-3 Comm Holdings   Tue, Jul 27  Before the Bell      0.79
LPNT   LifePoint Hospitals Tue, Jul 27  After the Bell       0.46
LMT    Lockheed Martin     Tue, Jul 27  Before the Bell      0.61
LUX    Luxottica Grp       Tue, Jul 27  -----N/A-----         N/A
MMP    Magellan Midstream  Tue, Jul 27  Before the Bell      1.05
MRO    Marathon Oil Corp   Tue, Jul 27  Before the Bell      1.08
MWV    MeadWestvaco        Tue, Jul 27  Before the Bell      0.09
MHS    Medco Hlth SolutionsTue, Jul 27  Before the Bell      0.53
MOLX   Molex Inc.          Tue, Jul 27  After the Bell       0.28
MNST   Monster Worldwide   Tue, Jul 27  After the Bell       0.13
MRH    Montpelier Re Hold  Tue, Jul 27  After the Bell       1.24
MUR    Murphy Oil Corp     Tue, Jul 27  After the Bell       1.72
NATI   Natl Instruments    Tue, Jul 27  After the Bell       0.16
NHP    Ntnwd Hlth Prop     Tue, Jul 27  Before the Bell      0.43
MFE    Network Assoc       Tue, Jul 27  After the Bell       0.06
ORLY   O'Reilly Automotive Tue, Jul 27  After the Bell       0.60
OSK    Oshkosh Truck       Tue, Jul 27  -----N/A-----        0.79
PENN   Penn Natl Gaming    Tue, Jul 27  Before the Bell      0.53
PKI    PerkinElmer         Tue, Jul 27  After the Bell       0.20
PD     Phelps Dodge        Tue, Jul 27  Before the Bell      2.48
PUK    Prudential PLC      Tue, Jul 27  -----N/A-----         N/A
RGC    Regal Entertainment Tue, Jul 27  -----N/A-----        0.36
RGA    Reins Grp of Am, IncTue, Jul 27  After the Bell       0.88
RNR    RenaissanceRe HodngsTue, Jul 27  After the Bell       1.65
RCI    Renal Care Grp, Inc Tue, Jul 27  After the Bell       0.41
RCII   Rent-A-Center       Tue, Jul 27  Before the Bell      0.61
RTRSY  Reuters Grp         Tue, Jul 27  Before the Bell       N/A
COL    Rockwell Collins    Tue, Jul 27  Before the Bell      0.39
SWY    Safeway, Inc.       Tue, Jul 27  During the Market    0.37
SBTV   SBS Broadcasting SA Tue, Jul 27  After the Bell       0.71
SFA    Scientific-Atlanta  Tue, Jul 27  After the Bell       0.35
SEM    Select Medical Corp Tue, Jul 27  After the Bell       0.27
SIGI   SELECTIVE INS GRP   Tue, Jul 27  After the Bell       0.80
SEPR   Sepracor            Tue, Jul 27  Before the Bell     -0.81
SINA   SINA CORP           Tue, Jul 27  After the Bell       0.31
STFC   State Auto Finl     Tue, Jul 27  Before the Bell      0.43
STE    Steris              Tue, Jul 27  Before the Bell      0.25
TROW   T. Rowe Price       Tue, Jul 27  Before the Bell      0.62
TI     Telecom Italia      Tue, Jul 27  -----N/A-----         N/A
TEM    Telefonica Moviles  Tue, Jul 27  Before the Bell       N/A
TIN    Temple-Inland Inc.  Tue, Jul 27  Before the Bell      0.69
FAF    The First Am Corp   Tue, Jul 27  After the Bell       1.14
MHP    The McGraw Hill Co  Tue, Jul 27  Before the Bell      0.81
SMG    The Scotts Co       Tue, Jul 27  Before the Bell      3.05
TMO    Thermo Electron CorpTue, Jul 27  After the Bell       0.29
RIG    Transocean Inc.     Tue, Jul 27  Before the Bell      0.10
TRI    Triad Hospitals, IncTue, Jul 27  After the Bell       0.54
TRW    TRW Auto            Tue, Jul 27  Before the Bell      0.61
X      United States Steel Tue, Jul 27  -----N/A-----        1.53
UCO    Univ Comp Hldg      Tue, Jul 27  -----N/A-----        0.33
UPM    UPM-Kymmene Grp     Tue, Jul 27  -----N/A-----        0.13
UTSI   UTStarcom           Tue, Jul 27  After the Bell       0.33
WOOF   VCA Antech, Inc.    Tue, Jul 27  After the Bell       0.43
VTR    Ventas              Tue, Jul 27  After the Bell       0.43
VRTS   VERITAS Software    Tue, Jul 27  After the Bell       0.19
VZ     Verizon             Tue, Jul 27  Before the Bell      0.60
WPC    W. P. Carey & Co.   Tue, Jul 27  Before the Bell      0.91
WAT    Waters Corp         Tue, Jul 27  Before the Bell      0.41
WWY    Wm. Wrigley Jr. Co. Tue, Jul 27  -----N/A-----        0.61
WMGI   Wright Medical Grp  Tue, Jul 27  After the Bell       0.19


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

RNT    Aaron Rents, Inc.   Wed, Jul 28  After the Bell       0.35
AVO    Advanced Med Optics Wed, Jul 28  Before the Bell      0.25
ATE    Advantest Corp      Wed, Jul 28  -----N/A-----         N/A
AMG    Affiliated Managers Wed, Jul 28  -----N/A-----        0.98
AG     AGCO                Wed, Jul 28  Before the Bell      0.44
APD    Air Prod Chems Inc  Wed, Jul 28  Before the Bell      0.67
ARG    Airgas              Wed, Jul 28  After the Bell       0.29
ACL    Alcon Inc.          Wed, Jul 28  After the Bell       0.73
AGN    Allergan            Wed, Jul 28  Before the Bell      0.62
ALD    Allied Capital Corp Wed, Jul 28  Before the Bell      0.35
AHC    Amerada Hess        Wed, Jul 28  Before the Bell      2.45
AGP    AMERIGRP Corp       Wed, Jul 28  After the Bell       0.80
BUD    Anheuser-Busch Co   Wed, Jul 28  -----N/A-----        0.83
ANT    Anteon Intl Corp    Wed, Jul 28  Before the Bell      0.37
APPB   Applebee's Intl     Wed, Jul 28  After the Bell       0.33
ABI    Applied Biosystems  Wed, Jul 28  -----N/A-----        0.25
ARM    ArvinMeritor, Inc.  Wed, Jul 28  Before the Bell      0.72
ASKJ   Ask Jeeves          Wed, Jul 28  After the Bell       0.22
AVE    Aventis             Wed, Jul 28  -----N/A-----        0.99
AVP    Avon Products Inc.  Wed, Jul 28  Before the Bell      0.46
BRG    BG Grp              Wed, Jul 28  Before the Bell      0.50
BIIB   Biogen Idec Inc.    Wed, Jul 28  Before the Bell      0.32
BYD    Boyd Gaming         Wed, Jul 28  After the Bell       0.27
BPO    BROOKFIELD PPTYS    Wed, Jul 28  Before the Bell      0.60
BOBJ   Business Objects    Wed, Jul 28  After the Bell       0.18
VNT    C. A. Nacl Teli VeneWed, Jul 28  After the Bell       0.15
CAB    CABELAS INC         Wed, Jul 28  After the Bell        N/A
CAJ    Canon               Wed, Jul 28  Before the Bell       N/A
CRL    Charles River Labs  Wed, Jul 28  After the Bell       0.49
KOF    COCA-COLA FEMSA     Wed, Jul 28  Before the Bell      0.38
CMCSA  Comcast Corp        Wed, Jul 28  Before the Bell      0.10
COP    ConocoPhillips      Wed, Jul 28  Before the Bell      2.89
CAM    Cooper Cameron      Wed, Jul 28  Before the Bell      0.40
CCI    Crown Castle Intl   Wed, Jul 28  After the Bell      -0.17
CSX    CSX                 Wed, Jul 28  Before the Bell      0.58
CFR    Cullen/Frost BankersWed, Jul 28  Before the Bell      0.66
DNEX   Dionex              Wed, Jul 28  After the Bell       0.49
DRE    Duke Rlty Corp      Wed, Jul 28  After the Bell       0.61
DYN    Dynegy Inc.         Wed, Jul 28  Before the Bell     -0.07
EDS    Electronic Data Sys Wed, Jul 28  After the Bell      -0.03
ELE    Endesa, S.A.        Wed, Jul 28  Before the Bell       N/A
ENI    Enersis SA ADS      Wed, Jul 28  -----N/A-----        0.19
ERIE   Erie Indemnity      Wed, Jul 28  After the Bell       0.82
ESS    Essex Property TrustWed, Jul 28  After the Bell       1.04
EXC    Exelon Corp         Wed, Jul 28  Before the Bell      0.66
ESRX   Express Scripts, IncWed, Jul 28  After the Bell       0.94
FIC    Fair Isaac Corp     Wed, Jul 28  After the Bell       0.34
FRT    Fed Rlty Invstmnt   Wed, Jul 28  -----N/A-----        0.70
FSH    Fisher Scitific IntlWed, Jul 28  After the Bell       0.71
FLR    Fluor Corp          Wed, Jul 28  After the Bell       0.54
FBN    Furniture Brands    Wed, Jul 28  -----N/A-----        0.27
GRMN   Garmin Ltd.         Wed, Jul 28  Before the Bell      0.46
GEMP   Gemplus Intl S.A.   Wed, Jul 28  -----N/A-----         N/A
GSF    GlobalSantaFe Corp. Wed, Jul 28  Before the Bell      0.00
GRP    Grant Prideco Inc   Wed, Jul 28  Before the Bell      0.08
GTRC   Guitar Center       Wed, Jul 28  -----N/A-----        0.35
HAN    Hanson plc          Wed, Jul 28  -----N/A-----         N/A
HRS    Harris              Wed, Jul 28  After the Bell       0.54
HTV    Hearst-Argyle TV    Wed, Jul 28  Before the Bell      0.37
HLT    Hilton Hotels Corp  Wed, Jul 28  Before the Bell      0.18
IRGI   Inveresk Res Grp IncWed, Jul 28  After the Bell       0.33
JDSU   JDS Uniphase Corp   Wed, Jul 28  -----N/A-----       -0.01
JP     Jefferson-Pilot     Wed, Jul 28  After the Bell       0.92
KMT    Kennametal Inc.     Wed, Jul 28  Before the Bell      0.78
KMG    Kerr-McGee          Wed, Jul 28  -----N/A-----        1.08
LVLT   Level 3 Comm        Wed, Jul 28  -----N/A-----       -0.33
LNC    Lincoln Natl        Wed, Jul 28  After the Bell       0.93
LPX    LP Corp             Wed, Jul 28  Before the Bell      1.58
LZ     Lubrizol            Wed, Jul 28  Before the Bell      0.64
MACR   Macromedia          Wed, Jul 28  After the Bell       0.20
MMC    Marsh & McLennan Co Wed, Jul 28  Before the Bell      0.72
WFR    MEMC Electronic Mat Wed, Jul 28  -----N/A-----        0.17
MDG    Meridian Gold Inc.  Wed, Jul 28  Before the Bell      0.09
MET    MetLife Inc.        Wed, Jul 28  After the Bell       0.77
MX     Metso Corp          Wed, Jul 28  -----N/A-----        0.55
NFX    Newfield ExplorationWed, Jul 28  Before the Bell      1.30
NEM    Newmont Mining Corp Wed, Jul 28  Before the Bell      0.24
NXTP   Nextel Partners     Wed, Jul 28  Before the Bell      0.05
NSC    Norfolk So Corp     Wed, Jul 28  Before the Bell      0.46
PTNR   Partner Comm        Wed, Jul 28  Before the Bell       N/A
POG    Patina Oil & Gas    Wed, Jul 28  After the Bell       0.49
PAS    PepsiAmericas       Wed, Jul 28  Before the Bell      0.41
PIO    Pioneer Corp        Wed, Jul 28  -----N/A-----         N/A
PDG    Placer Dome         Wed, Jul 28  After the Bell       0.12
PX     Praxair Inc         Wed, Jul 28  Before the Bell      0.52
IQW    Quebecor World      Wed, Jul 28  -----N/A-----        0.26
QSFT   Quest Software Inc. Wed, Jul 28  After the Bell       0.09
STR    Questar.com         Wed, Jul 28  -----N/A-----        0.50
RHD    R.H. Donnelley Corp Wed, Jul 28  After the Bell       0.78
RYN    Rayonier Inc.       Wed, Jul 28  After the Bell       0.84
REG    REGENCY CTRS CORP   Wed, Jul 28  After the Bell       0.70
RSG    Republic Services   Wed, Jul 28  After the Bell       0.39
ROK    Rockwell Automation Wed, Jul 28  Before the Bell      0.44
ROH    Rohm and Haas Co    Wed, Jul 28  Before the Bell      0.51
ROL    Rollins, Inc.       Wed, Jul 28  Before the Bell      0.35
ROP    Roper Ind           Wed, Jul 28  After the Bell       0.62
STD    Santander Cent Hisp Wed, Jul 28  Before the Bell       N/A
SGMS   Scientific Games    Wed, Jul 28  After the Bell       0.21
SEE    Sealed Air          Wed, Jul 28  -----N/A-----        0.68
SPG    Simon Property Grp  Wed, Jul 28  After the Bell       1.00
SNE    Sony Corp           Wed, Jul 28  -----N/A-----        0.36
SO     Southern Co         Wed, Jul 28  -----N/A-----        0.48
SPF    Standard Pacific    Wed, Jul 28  After the Bell       1.41
SRCL   Stericycle          Wed, Jul 28  -----N/A-----        0.43
SEO    Stora Enso          Wed, Jul 28  -----N/A-----        0.06
SU     Suncor Energy       Wed, Jul 28  Before the Bell       N/A
SBL    Symbol Technologies Wed, Jul 28  After the Bell       0.09
TCO    Taubman Centers     Wed, Jul 28  After the Bell       0.44
TLSN   TeliaSonera AB      Wed, Jul 28  -----N/A-----         N/A
BA     The Boeing Co       Wed, Jul 28  Before the Bell      0.47
TDW    Tidewater           Wed, Jul 28  Before the Bell      0.24
TWX    Time Warner Inc.    Wed, Jul 28  Before the Bell      0.15
UL     Unilever PLC        Wed, Jul 28  Before the Bell      0.74
UAG    United Auto Grp     Wed, Jul 28  -----N/A-----        0.63
UMC    United Microelect   Wed, Jul 28  -----N/A-----        0.08
VARI   Varian, Inc.        Wed, Jul 28  After the Bell       0.40
VVC    Vectren Corp        Wed, Jul 28  After the Bell       0.13
VMC    Vulcan Materials    Wed, Jul 28  After the Bell       0.82
WON    Westwood One        Wed, Jul 28  Before the Bell      0.25
WFMI   Whole Foods Market  Wed, Jul 28  After the Bell       0.51
XEL    Xcel Energy         Wed, Jul 28  Before the Bell      0.18
XL     XL Capital Ltd      Wed, Jul 28  After the Bell       2.20
YCC    Yankee Candle       Wed, Jul 28  Before the Bell      0.16
ZMH    Zimmer Inc.         Wed, Jul 28  After the Bell       0.55


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

ABB    ABB                 Thu, Jul 29  Before the Bell      0.07
AES    AES Corp            Thu, Jul 29  Before the Bell      0.10
AET    Aetna Inc.          Thu, Jul 29  Before the Bell      1.66
ACS    Aff Computer Serv   Thu, Jul 29  -----N/A-----        0.70
ATG    AGL Resources       Thu, Jul 29  Before the Bell      0.31
ALA    Alcatel             Thu, Jul 29  Before the Bell      0.08
AWC    ALUMINA LTD         Thu, Jul 29  -----N/A-----         N/A
AEE    Ameren Corp         Thu, Jul 29  Before the Bell      0.63
AHM    Am Home Mrtg InvstmnThu, Jul 29  Before the Bell      0.81
AMMD   Am Medical Systems  Thu, Jul 29  After the Bell       0.24
APCC   Am Power Conversion Thu, Jul 29  After the Bell       0.19
AMIS   AMIS HLDGS INC      Thu, Jul 29  -----N/A-----        0.17
AU     Anglgld Ashnt Lmtd  Thu, Jul 29  -----N/A-----        0.20
APA    Apache Corp         Thu, Jul 29  Before the Bell      1.15
ACGL   Arch Capital Grp    Thu, Jul 29  After the Bell       1.16
AGY    Argosy Gaming       Thu, Jul 29  Before the Bell      0.59
BHI    Baker Hughes Incorp Thu, Jul 29  Before the Bell      0.31
BLL    Ball Corp           Thu, Jul 29  Before the Bell      1.43
BOL    Bausch & Lomb       Thu, Jul 29  Before the Bell      0.64
BZH    Beazer Homes USA IncThu, Jul 29  Before the Bell      3.99
BWA    BorgWarner, Inc.    Thu, Jul 29  Before the Bell      0.92
BAK    Braskem, S.A.       Thu, Jul 29  -----N/A-----         N/A
BMY    Bristol-Myers SquibbThu, Jul 29  -----N/A-----        0.39
BC     Brunswick Corp      Thu, Jul 29  Before the Bell      0.90
BTY    BT Grp PLC          Thu, Jul 29  Before the Bell       N/A
BG     BUNGE LIMITED       Thu, Jul 29  Before the Bell      0.77
COG    Cabot Oil & Gas CorpThu, Jul 29  After the Bell       0.58
CP     Can Pacific Railway Thu, Jul 29  Before the Bell      0.46
CARS   Capital Automotive  Thu, Jul 29  Before the Bell      0.51
CMX    CareMark Rx, Inc.   Thu, Jul 29  Before the Bell      0.30
CRE    Carramerica Rlty    Thu, Jul 29  After the Bell       0.76
CDX    Catellus DevelopmentThu, Jul 29  After the Bell       0.34
CBL    CBL & Assoc Prop    Thu, Jul 29  After the Bell       1.16
CTL    CenturyTel, Inc.    Thu, Jul 29  Before the Bell      0.56
GIB    CGI Grp             Thu, Jul 29  Before the Bell       N/A
CBI    Chicago Bridge Iron Thu, Jul 29  Before the Bell      0.08
CNA    CNA Finl Corp       Thu, Jul 29  -----N/A-----         0.6
CCE    Coca-Cola Enter     Thu, Jul 29  Before the Bell      0.61
CPO    Corn Products Intl  Thu, Jul 29  Before the Bell      0.61
COX    Cox Communications  Thu, Jul 29  Before the Bell      0.11
CW     Curtiss-Wright Corp.Thu, Jul 29  After the Bell       0.62
CYTC   Cytyc Corp          Thu, Jul 29  After the Bell       0.18
DCX    DaimlerChrysler     Thu, Jul 29  Before the Bell      0.93
DASTY  Dassault Systemes SAThu, Jul 29  -----N/A-----        0.33
DLX    Deluxe Corp         Thu, Jul 29  Before the Bell      0.89
DNR    Denbury Resources   Thu, Jul 29  Before the Bell      0.41
DDR    DVLPRS DIVERS RLTY  Thu, Jul 29  -----N/A-----        0.82
DUK    Duke Energy Corp    Thu, Jul 29  -----N/A-----        0.24
EMN    Eastman Chemical Co Thu, Jul 29  After the Bell       0.78
ENB    Enbridge Inc.       Thu, Jul 29  -----N/A-----         N/A
E      ENI SpA             Thu, Jul 29  During the Market     N/A
ETH    Ethan Allen InteriorThu, Jul 29  Before the Bell      0.57
XOM    ExxonMobil Corp     Thu, Jul 29  Before the Bell      0.87
FFH    Fairfax Finl HoldingThu, Jul 29  After the Bell       4.57
FLS    Flowserve Corp      Thu, Jul 29  Before the Bell      0.30
FMT    Fremont General     Thu, Jul 29  During the Market    1.13
GMT    GATX Corp           Thu, Jul 29  Before the Bell      0.29
GET    Gaylord Entertain   Thu, Jul 29  Before the Bell     -0.19
GGC    Georgia Gulf        Thu, Jul 29  After the Bell       0.90
GP     Georgia-Pacific     Thu, Jul 29  Before the Bell      0.92
GILD   Gilead Sciences     Thu, Jul 29  -----N/A-----        0.36
GFI    Gold Fields Limited Thu, Jul 29  -----N/A-----        0.07
GR     Goodrich Corp       Thu, Jul 29  Before the Bell      0.30
HCP    Health Care PropertyThu, Jul 29  Before the Bell      0.45
HR     Hlthcare Rlty Trust Thu, Jul 29  After the Bell       0.70
HPC    Hercules            Thu, Jul 29  Before the Bell      0.24
HEW    Hewitt Assoc        Thu, Jul 29  Before the Bell      0.32
HB     Hillenbrand Ind     Thu, Jul 29  Before the Bell      0.74
HIT    Hitachi Limited     Thu, Jul 29  -----N/A-----         N/A
IKN    Ikon Office Sltns   Thu, Jul 29  -----N/A-----        0.16
ICI    Imperial Chem Ind   Thu, Jul 29  -----N/A-----         N/A
IM     Ingram Micro        Thu, Jul 29  After the Bell       0.15
IFF    Intl Flavors & Frag Thu, Jul 29  -----N/A-----        0.63
IRF    Intl Rectifier      Thu, Jul 29  After the Bell       0.51
ISG    INTL STEEL GRP INC  Thu, Jul 29  Before the Bell      1.25
ISIL   Intersil Corp       Thu, Jul 29  After the Bell       0.20
IRM    Iron Mountain IncorpThu, Jul 29  Before the Bell      0.18
KLAC   KLA-Tencor          Thu, Jul 29  -----N/A-----        0.45
KNM    KONAMI CORP         Thu, Jul 29  -----N/A-----         N/A
LIHRY  LIHIR GOLD LTD      Thu, Jul 29  -----N/A-----       -0.06
LTR    Loews Corp.         Thu, Jul 29  Before the Bell      1.45
MGLN   Magellan Health ServThu, Jul 29  -----N/A-----        0.41
MKL    MARKEL CORP         Thu, Jul 29  Before the Bell      5.03
MVL    Marvel Enterprises  Thu, Jul 29  Before the Bell      0.19
MEE    Massey Energy Co    Thu, Jul 29  After the Bell       0.25
MC     Matsushita Elec IndlThu, Jul 29  -----N/A-----         N/A
MGM    Metro-Goldwyn-Mayer Thu, Jul 29  -----N/A-----       -0.11
MTX    MINERALS TECH INC   Thu, Jul 29  After the Bell       0.73
MGI    MoneyGram Intl      Thu, Jul 29  Before the Bell      0.26
MPS    MPS Grp             Thu, Jul 29  Before the Bell      0.08
NBG    Natl Bank of Greece Thu, Jul 29  Before the Bell       N/A
NFG    Natl Fuel Gas Co    Thu, Jul 29  After the Bell       0.32
NCR    NCR Corp            Thu, Jul 29  Before the Bell      0.36
NIPNY  NEC (ADR)           Thu, Jul 29  -----N/A-----         N/A
NXL    Nw Pln Excl Rlty TrsThu, Jul 29  Before the Bell      0.50
NWL    Newell Rubbermaid   Thu, Jul 29  Before the Bell      0.35
NJ     Nidec               Thu, Jul 29  -----N/A-----         N/A
NSANY  Nissan Motor Co. LtdThu, Jul 29  -----N/A-----         N/A
NRD    NORANDA INC         Thu, Jul 29  Before the Bell       N/A
NOC    Northrop Grumman    Thu, Jul 29  -----N/A-----        0.75
NFI    Novastar Finl       Thu, Jul 29  Before the Bell       N/A
ORH    Odyssey Re Holdings Thu, Jul 29  After the Bell       0.56
ORI    Old Republic Intl   Thu, Jul 29  -----N/A-----        0.61
OLN    Olin                Thu, Jul 29  After the Bell       0.07
OCR    Omnicare            Thu, Jul 29  Before the Bell      0.63
IX     Orix Corp           Thu, Jul 29  -----N/A-----         N/A
OSG    Overseas ShipholdingThu, Jul 29  Before the Bell      1.18
PHS    PacifiCare Hlth Sys Thu, Jul 29  After the Bell       0.78
PNP    Pan Pac Rtl Prop    Thu, Jul 29  -----N/A-----        0.88
PH     Parker Hannifin CorpThu, Jul 29  Before the Bell      0.92
PTEN   Patterson-UTI EnergyThu, Jul 29  Before the Bell      0.14
PCZ    Petro-Canada        Thu, Jul 29  Before the Bell       N/A
PKZ    PETROKAZAKHSTAN INC Thu, Jul 29  Before the Bell      1.14
PNW    Pinnacle Wst Cptl   Thu, Jul 29  Before the Bell      0.59
POT    Ptsh Crp Ssktchwn   Thu, Jul 29  -----N/A-----        1.12
PDS    Precision Drllng CrpThu, Jul 29  Before the Bell      0.13
PCO    Premcor Inc.        Thu, Jul 29  -----N/A-----        2.00
PLD    ProLogis Trust      Thu, Jul 29  Before the Bell      0.57
ROIAK  Radio One           Thu, Jul 29  -----N/A-----        0.10
RTN    Raytheon            Thu, Jul 29  Before the Bell      0.31
RDA    READERS DIGEST ASSN Thu, Jul 29  -----N/A-----        0.06
O      Rlty Income Corp    Thu, Jul 29  -----N/A-----        0.71
REP    Repsol YPF          Thu, Jul 29  Before the Bell       N/A
RTP    Rio Tinto PLC       Thu, Jul 29  -----N/A-----        2.95
SPP    Sappi Limited       Thu, Jul 29  -----N/A-----        0.14
SC     Shell Trans and TradThu, Jul 29  -----N/A-----        1.03
SHPGY  Shire Pharm Grp     Thu, Jul 29  Before the Bell      0.43
SI     Siemens AG          Thu, Jul 29  Before the Bell       N/A
SKM    SK Telecom          Thu, Jul 29  -----N/A-----         N/A
SNA    Snap-on Incorp      Thu, Jul 29  Before the Bell      0.44
SSI    SpectraSite, Inc.   Thu, Jul 29  Before the Bell      0.17
SKE    Spinnaker Explrtn   Thu, Jul 29  -----N/A-----        0.52
SLF    Sun Life Finl Inc.  Thu, Jul 29  -----N/A-----         N/A
SYT    Syngenta            Thu, Jul 29  Before the Bell       N/A
TLM    Talisman Energy     Thu, Jul 29  -----N/A-----        0.58
TDK    TDK                 Thu, Jul 29  -----N/A-----         N/A
TKP    Technip             Thu, Jul 29  Before the Bell      0.39
TE     TECO Energy Inc.    Thu, Jul 29  -----N/A-----        0.21
TNE    Tele No Lst Prtcp   Thu, Jul 29  Before the Bell      0.09
TIWI   Telesys Intl Wrlss  Thu, Jul 29  After the Bell       0.12
TLWT   Telewest Global Inc Thu, Jul 29  Before the Bell       N/A
TRLY   Terra Networks      Thu, Jul 29  -----N/A-----         N/A
DOW    The Dow Chemical Co Thu, Jul 29  Before the Bell      0.67
G      The Gillette Co     Thu, Jul 29  Before the Bell      0.41
PNX    The Phoenix Co, Inc.Thu, Jul 29  Before the Bell      0.16
RSE    The Rouse Co        Thu, Jul 29  -----N/A-----        1.01
TMIC   Trend Micro         Thu, Jul 29  -----N/A-----         N/A
TSM    TSMC                Thu, Jul 29  -----N/A-----        0.14
TXU    TXU Corp.           Thu, Jul 29  Before the Bell      0.49
UMBF   UMB Finl            Thu, Jul 29  -----N/A-----        0.54
UNEWY  United Bus Media    Thu, Jul 29  -----N/A-----         N/A
VLO    Valero Energy Corp. Thu, Jul 29  -----N/A-----        4.37
VRC    Varco Intl, Inc.    Thu, Jul 29  Before the Bell      0.22
VAR    Varian Medical Sys  Thu, Jul 29  After the Bell       0.58
VSEA   Vrn Semicon Equip   Thu, Jul 29  After the Bell       0.51
WDR    Waddell & Reed Finl Thu, Jul 29  Before the Bell      0.34
WMI    Waste Management    Thu, Jul 29  -----N/A-----        0.37
WDC    Western Digital CorpThu, Jul 29  After the Bell       0.15
YPF    YPF, S.A.           Thu, Jul 29  -----N/A-----         N/A


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

AEP    Am Electric Power   Fri, Jul 30  Before the Bell      0.44
AFR    Am Finl Rlty Trust  Fri, Jul 30  Before the Bell       N/A
APC    Anadarko Petroleum  Fri, Jul 30  Before the Bell      1.59
AHG    Apria Healthcare GrpFri, Jul 30  -----N/A-----        0.57
ADM    Archer Dan Midland  Fri, Jul 30  Before the Bell      0.24
BOW    Bowater IncorporatedFri, Jul 30  Before the Bell     -0.24
CCJ    Cameco              Fri, Jul 30  -----N/A-----         N/A
CVX    ChevronTexaco       Fri, Jul 30  Before the Bell      2.70
CEG    Constell Energy Grp Fri, Jul 30  Before the Bell      0.35
DTE    DTE Energy Co       Fri, Jul 30  -----N/A-----        0.45
EDP    Electricidade Port  Fri, Jul 30  -----N/A-----         N/A
FUJIY  Fuji Photo Film     Fri, Jul 30  -----N/A-----         N/A
NDE    IndyMac Bancorp     Fri, Jul 30  Before the Bell      0.84
KGC    Kinross Gold        Fri, Jul 30  -----N/A-----        0.03
LYG    Lloyds TSB Grp      Fri, Jul 30  -----N/A-----         N/A
NOI    Natl Oilwell        Fri, Jul 30  Before the Bell      0.25
PEG    PSEG                Fri, Jul 30  Before the Bell      0.55
SWN    Southwestern Energy Fri, Jul 30  -----N/A-----        0.51
WPO    The Washington Post Fri, Jul 30  -----N/A-----        8.32


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

Symbol  Co Name              Ratio    Payable     Executable

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

July 26th through the 30th is another huge week for
Q2 earnings season but we have passed the peak.  The week
also brings a number of economic data with new and existing
home sales, consumer confidence numbers, the Chicago PMI and
the Michigan Sentiment index.  Topping the list will be
the Fed's Beige book, the ECI and the advance GDP numbers.
Also grabbing headlines will be the Democratic convention
in Boston.


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

----------------
Monday, 07/26/04
----------------
Ewisting Home Sales (DM)   Jun  Forecast:   6.65M  Previous:    6.80M
Federal Reserve Governor Hoenig speaks on Monetary Policy
The Democratic National Convention in Boston in session.


-----------------
Tuesday, 07/27/04
-----------------
Consumer Confidence (DM)   Jul  Forecast:   102.0  Previous:    101.9
New Home Sales (DM)        Jun  Forecast:   1261K  Previous:    1369K
The Democratic National Convention in Boston in session.


-------------------
Wednesday, 07/28/04
-------------------
Durable Orders (BB)        Jun  Forecast:    1.5%  Previous:    -1.6%
Fed's Beige Book (DM)
The Democratic National Convention in Boston in session.


------------------
Thursday, 07/29/04
------------------
Initial Claims (BB)      07/23  Forecast:    340K  Previous:     339K
Employment Cost Index (BB)  Q2  Forecast:    0.9%  Previous:     1.1%
Help-Wanted Index (DM)     Jun  Forecast:      40  Previous:       39
The Democratic National Convention in Boston ends Thursday evening.


----------------
Friday, 07/30/04
----------------
GDP-Adv. (BB)               Q2  Forecast:    3.7%  Previous:     3.9%
Chain Deflator-Adv. (BB)    Q2  Forecast:    3.0%  Previous:     2.9%
Mich Sentiment-Rev. (DM)   Jul  Forecast:    96.1  Previous:     96.0
Chicago PMI (DM)           Jul  Forecast:    60.0  Previous:     56.4


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

AIG     American Internat Group    68.10    +0.87
SBC     SBC Communications Inc     24.22    +0.64
TGT     Target Corporation         43.83    +0.71
GD      General Dynamics Corp      97.42    +0.66
AT      Alltel Corp                51.86    +1.08
FPL     FPL Group Inc              65.76    +2.56


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

TKLC    Tekelec                    19.13    +2.02
CHB     Champion Enterprises Inc    9.55    +1.88
COHU    COHU Inc                   17.84    +2.59
BEAV    BE Aerospace Inc            9.11    +1.22


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

AT      Alltel Corp                51.86    +1.08
RHI     Robert Half Internat       28.46    +2.34
CMI     Cummins Inc                64.90    +2.89
SFG     Stancorp Financial         68.51    +2.02
MSA     Mine Safety Appliance Co   36.11    +2.20


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

LLY     Eli Lilly Company          62.71    -2.03
KO      Coca0Cola Co               45.17    -3.80
SI      Siemens Aktien             65.86    -2.49
UPS     United Parcel Service B    71.41    -1.22
CAJ     Canon Inc (ADR)            49.07    -1.34


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

VOLVY   AB Volvo (ADR)             34.50    -1.04
AEE     Ameren Corp                43.76    -0.31
OHP     Oxford Health Plans Inc    55.35    -0.89
GXP     Great Plains Energy        30.44    -0.32
KMR     Kinder Morgan Mgmt LLC     39.05    -0.67


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