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Daily Newsletter, Sunday, 08/01/2004

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PremierInvestor.net Newsletter          Weekend Edition 08-01-2004
                                                    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:       That Was Exciting
Market Sentiment:  Here We Go Again
Watch List:        Security to Salt and more!

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
        WE 7-30         WE 7-23         WE 7-16         WE 7-09
DOW    10139.71 +177.49 9962.22 -177.56 10139.8 - 73.44 - 69.61
Nasdaq  1887.36 + 38.27 1849.09 - 34.06 1883.15 - 63.18 - 60.33
S&P-100  537.67 +  7.29  530.38 -  5.52  535.90 -  6.73 -  4.54
S&P-500 1101.72 + 15.52 1086.20 - 15.20 1101.40 - 11.41 - 12.57
W5000  10701.65 +147.83 10553.8 -178.04 10731.9 -110.82 -154.87
SOX      416.43 + 10.85  405.58 -  4.88  410.46 - 40.68 -  6.17
RUT      551.29 + 12.07  539.22 - 16.26  555.48 -  8.25 - 18.99
TRAN    3111.69 + 68.25 3043.44 - 44.89 3088.33 +  0.36 - 58.20
WE = week ending
=================================================================

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

That Was Exciting
by Jim Brown

The market celebrated the end of convention event risk
with a yawn and the concern immediately shifted to the
lower than expected GDP. The critical convention event
risk expired with no more excitement than a week old
newspaper.

Dow Chart – Daily


Nasdaq Chart – Daily


SPX Chart


NYSE Composite Chart ($NYA.x)



The big news for the morning was not the end of the
convention risk but the unexpected drop in the Q2 GDP
to +3.0% from +4.5% in Q1 was well below estimates of
+3.8% growth. This was the lowest level for GDP since
the +1.9% in Q1 of 2003. The biggest component drop was
in personal consumption which fell from +4.1% in Q1 to
only +1.0% in Q2. This was a major drop and confirms
the retail weakness we have been hearing about for a
couple months. Overall the GDP is still up +4.8%
over the last four quarters but that is mostly due to
the +7.4% jump in Q3-2003 as a result of the 2003 tax
rebate. The minor rise in consumer spending was the
smallest gain in over three years.

While the GDP was a disaster the PMI was a blowout.
The Business Barometer headline number was 64.7 compared
to 56.4 in June. This did not completely reverse the
drop in June from 68.0 in May but it does bring the
report back in line with the prior two months. The
Production component soared to 69.5 from 53.9 and New
Orders rose to 68.7 from 56.8. Backlogs rose +6.5 to
60.2. The only component with a strong decline was
employment which fell to 45.6 from 53.6. That was the
worst labor reading since June-2003. Most notable was
the drop in inflation with Prices Paid falling to 77.6
from 84.5. This was the first drop in PP since February.

Also adding to the positive economic picture was the
NAPM-NY which rose to 302.5 in July and well over the
290.9 in June. This is a multi month high and shows
business conditions are still improving. Non
manufacturing activity jumped +31% to 71 from 58.0.
Current conditions jumped to 72.3 from 57.6 but the
six-month outlook exploded to 78.5 from 60.

Strong economics like the PMI and NY-NAPM along with
the Philly Fed and Empire State survey suggests the
ISM on Monday could see a strong upside surprise. The
challenge is whether the rebound actually occurred
in July or just the beginning of the rebound. The
consensus estimates are for a headline number of 62.0
and right in line with the last four month average of
62.2. The recent high was 63.6 in January and we have
seen numbers near 61 twice in Feb and June. A number
over 63.0 would be seen as a very strong confirmation
the economic soft patch is behind us. The markets
should act positively to any strong number.

The GDP sinking to +3.0% growth for the quarter and
the uptick in the regional indexes for June/July
suggests May was the weak link that dragged down the
GDP. The best news was the falling inflation levels.
With a soft GDP and inflation levels coming off their
highs despite high energy prices the Fed should be
ecstatic. The Fed meeting on August 10th is still
showing the possibility of a rate hike but there is
no possibility of a 50 point hike as there was in the
past. The current Fed Funds Futures are pricing in
a 25 point hike in August, November and December and
would raise the target rate to 2.0% by year end. I
believe the Fed will raise rates in August because
to not raise them would raise questions about what
does the Fed know that we don't. Since the hike is
already priced in the Fed will get a free pass on
this one.

The final reading on the July Consumer Sentiment
came in at 96.7, +2.0 over June's 95.6 and slightly
over estimates. The dip in gas prices added to the
slight rise in sentiment but with prices rising
again we could see sentiment sink once that $2.00
per gallon rate is back to haunt us.

Oil rose to an all time high at $43.85 and spiked
well over previous levels. The reasoning analysts
are giving is the potential for terrorist attacks
causing a real slow down in deliveries. OPEC is
reportedly pumping every barrel they can and well
over the stated production quotas. Meanwhile the
demand for oil is growing at a 24 year high. This
means any production stoppage could send prices
soaring even farther. The rumored target is Saudi
Arabia where the regime is under attack and they
are a major producer of high quality oil. Terror
attacks have grown in intensity and frequency and
the oil infrastructure is reportedly too wide spread
to protect completely. Traders are fighting rumors
that the production/transportation facilities could
be attacked just before our elections in an effort
to drive prices significantly higher and provide a
voter backlash from high gas prices. Granted this
is all just speculation but as you can see by the
price there is worry. Oil supplies are actually
rising in the U.S. and some traders feel the price
spike will end badly.

What was really surprising on Friday was the
disconnect of the stock market from the oil price.
Recently we have seen a strong divergence in prices
when oil rose, stocks fell. This disconnect could be
the symptom of an impending move higher in stocks.
We saw support levels remain rock solid at 10100 on
the Dow and 1098 on the SPX. The S&P futures closed
at the high of the day at 1103.75.

Unfortunately the market action on Friday was far
from predictable. The price action on my charts was
more like child's crayon scratching than a recognizable
pattern. We tested highs and lows of the various
support/resistance ranges almost at will with no
directional trend. The strongest move of the day
came just before the close when the Dow and SPX
rebounded off their lows and returned to their highs
in just the last 25 min of trading. Techs, which had
been stronger turned weaker in the afternoon in stark
divergence to the action in the Dow and SPX.

The Dow traded in a 64-point range from 10086 to 10150.
The 10100 support was rock solid and 10150 was equally
solid resistance. We made the round trip to both
levels multiple times over the last two days and the
battle seems far from over.

The Nasdaq traded in a narrow 20 point range just under
1900 and was supported by the SOX (+1.27%) and the
Russell which traded over its 550 resistance high
several times. The only trend was sideways and that
was barely discernable.

The easiest method of illustrating the abrupt swings
in the market is to show an intraday chart of the
Advance/Decline line. This chart shows alternating
buy sell programs almost constantly throughout the
entire day with major swings late in the afternoon.
Those swings in the afternoon were +/- 700 issues
on an alternating basis. Very difficult to trade
when alternating buy/sell programs are running
rampant. This is good news because volatility means
change is in the wind.

Adv/Dcl Chart




I have been expecting a post convention rebound and
I have to admit Friday was very frustrating. I kept
expecting every rebound to break that overhead
resistance and begin to move higher in anticipation of
next week. Unfortunately that strong move up did not
appear until the close when the futures moved to the
high of the day.

There were multiple reasons for the lack of momentum
with the primary ones being the very low GDP and the
nearly $44 oil. There also appeared to be a sell the
news crowd that came to the market this morning also
looking for a rally to sell into. The good news was
the strong underlying bid at 10100 on the Dow and
1098 on the SPX. Buyers took a lot of shots but
managed to hold the line. I may have been expecting
too much for a summer Friday with barely over three
billion shares traded but I have not changed my tune.

Despite the choppy week and some new lows all around
the indexes did manage to finish positive and at the
highs for the week. It was the first positive week
for the Dow and SPX since June-18th. The Dow gained
+177 and the Nasdaq +38. Not great numbers but still
a reversal of the trend. I view the strong underlying
bid on Friday as proof that sellers are beginning to
lose their grip on the market. With the S&P futures
closing at a two week high and well over 1100 at
1103.75 it suggests we could see a very different
market on Monday.

I still believe that SPX 1100 resistance will break
to the upside despite multiple failures at the 1102
level on Friday. Part of my reasoning is the trend
for the last 11 election year cycles for the markets
to rebound the first week of August. Secondarily we
are still very oversold given the positive earnings
we are seeing. I believe any rally will eventually
fail but that is another story for another day. Treat
any continued rebound as a trading rally only and
keep your stops in place.

With the convention over one of our fear factors has
been put to rest. Kerry is still in a dead heat with
Bush but his pep rally is over. I am sure he hoped to
add some points in the polls but the latest survey
showed Bush adding +2 points on Friday. The Kerry
platform has been publicized and the critics are
coming out the woodwork. Drug companies are under
attack and price controls and green power are the
hot topics.

On the Republican side the Budget Office released the
expected budget deficit today at -$445 billion. While
that is a record deficit it is still not complete.
The budget was offset by a +$155 billion social
security surplus. Considering the state of the SS
system that money should remain in the trust fund
for future use instead if used to pay bills. The war
in Iraq was not included and will be brought up as
a supplemental item in the spring and is expected to
be $50 billion. Add those together and we have a real
budget deficit in the $650 billion range. This is why
foreign investors are fleeing our markets with net
withdrawals for the last three months. They believe
the soaring deficit will require desperate measures
that could handicap our economy and our markets.

To be fair that deficit is the result of the post Y2K
recession that began in early 2000, the 9/11 attack,
massive expenditures for homeland defense and the huge
tax rebates that helped to spark the economy in 2003.
There are pros and cons on both sides but the main
point I want to make is the market is watching the
polls. The drop over the last three weeks could have
been partly due to the convention event risk but not
risks from terrorists. Had the convention produce a
ground swell of support for some new program of price
controls, budget cuts and cancellation of last years
tax cuts then the market would have reacted negatively
to any Kerry gain in the polls. With the convention over
and no new agenda the danger, in both contexts, seems
to have passed. The market is free to discount the race
with the Republican pep rally still ahead.

In stock news of note Intel announced a delay in the
release of the new 4ghz Pentium 4 processor until the
first quarter. Giving confusing reasons in English that
would make Greenspan proud the company deftly avoided
saying that by pushing the chip one quarter farther
out they could dump their high inventory of older
chips during the Q4 holiday sales cycle. Intel
management is not stupid and they realized that by
delaying the long awaited chip all the computers built
in the 4Q would have to be built with the older chips.
Does not take a rocket scientist to see the reasoning
here.

I ended last Sunday's article with instructions to
look for good stocks over the next couple days that
were beaten down with the market and then expect an
end of week rebound. Monday was the low for the week
and you got a second chance on Wednesday. The Dow
finished +224 points off its lows for the week and
the Nasdaq +54. If you followed my instructions you
probably did well.

For Monday the Thursday night instructions have not
changed. Remain long over SPX 1100 and short/flat
below that level. Hopefully we will get a stronger
than expected ISM and we will be off to the races.
As always, just like the GDP on Friday, there is the
potential for a negative surprise so wait for the
announcement volatility to pass before entering new
positions.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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

Here We Go Again
- J. Brown

Now that earnings season is beginning to subside the market is
rightfully turning back to its old worries about oil, interest
rates, jobs and the economy. Oil is a major issue. Now that crude
is hitting new highs above $42 a barrel the impact could be felt
throughout the entire economy.  Airliners and transports have to
deal with higher fuel costs.  Many manufacturers use petroleum in
their creation process.  Consumers will feel the pinch at the gas
pump and that will affect retail sales across the board.  Oil
could be the easy villain to point to for the recent
disappointment in the GDP numbers.

Economists were looking for 3.7% GDP growth in the second quarter
but the economy only grew 3% after the June "slump".  Rising oil
prices are a major factor.  One analyst suggested that the "risk"
premium in oil has hit $15 a barrel as fears mount of a terrorist
attack and/or a complete melt down with the Russian oil giant
Yukos.  Thankfully we did see some positive economic numbers this
past week.  The University of Michigan consumer sentiment numbers
rose in July and the Chicago PMI index jumped strongly from 56.4%
in June to 64.7% in July.

The Federal Reserve will certainly be watching the PMI number and
the boatload of economic reports that are due to come out this
week.  Wall Street will once again focus on the interest rate
issue as we approach the August 10th FOMC meeting.  However,
before we can make it to August 10th we have to get past the
upcoming July jobs number due out this Friday.  Estimates are for
a gain of 230,000 jobs in July. The GDP slowdown and job growth
are going to be major factors in the Fed's decision to hike rates
and by how much.

It's easy to wonder why the GDP number didn't come in stronger.
Business has been brisk for corporate America.  Of the companies
that have reported their Q2 earnings the average profit growth
has been about 26%.  That's huge!  Yet businesses aren't spending
money like they should be and many have been guiding lower for
the third quarter, which really fuels investor fears over another
economic slow down.  Of course this is nothing new.  Our market
wrap column has been discussing the reality of an earnings slow
down and tougher year-over-year comparisons for weeks.

August could be interesting.  Not only do we have another Fed
meeting but the Olympics begin in Greece and here at home we'll
be preparing for the Republican National Convention.  Both of the
last two events are terrorist targets.  According to the Stock
Trader's Almanac August is pretty tough on stocks too.  It's the
worst month of the year for the Industrials and the S&P 500 over
the last 15 years and the second worst month of the NASDAQ.
Fortunately, election year Augusts tend to do a little bit
better.  Bulls also have an oversold bounce currently underway so
this August may turn out better than most if buyers can keep the
bounce moving.

Be careful and watch those stop losses.


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

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  8997
Current     : 10139

Moving Averages:
(Simple)

 10-dma: 10073
 50-dma: 10209
200-dma: 10226



S&P 500 ($SPX)

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

Moving Averages:
(Simple)

 10-dma: 1096
 50-dma: 1112
200-dma: 1107



Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1204
Current     : 1400

Moving Averages:
(Simple)

 10-dma: 1393
 50-dma: 1432
200-dma: 1447



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

CBOE Market Volatility Index (VIX) = 15.32 –0.36
CBOE Mkt Volatility old VIX  (VXO) = 15.40 –0.06
Nasdaq Volatility Index (VXN)      = 23.31 –0.68


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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.63        544,250       344,652
Equity Only    0.53        464,179       247,812
OEX            0.71         18,325        13,090
QQQ            1.37         28,978        39,682


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

Bullish Percent Data

           Current   Change   Status
NYSE          59.9    + 0     Bear Confirmed
NASDAQ-100    33.0    + 0     Bear Confirmed
Dow Indust.   53.3    + 0     Bear Confirmed
S&P 500       54.0    + 0     Bear Confirmed
S&P 100       55.0    + 0     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: 0.96
10-dma: 1.07
21-dma: 1.44
55-dma: 1.17


Extreme readings above 1.5 are bullish, and readings below .85
are bearish.  These signals don't occur often and tend be early,
but when they do, they can signal significant market turning
points.


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

Market Internals

            -NYSE-   -NASDAQ-
Advancers    1640      1742
Decliners    1134      1276

New Highs      62        54
New Lows       36        62

Up Volume    861M      993M
Down Vol.    664M      491M

Total Vol.  1554M     1496M
M = millions


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

Commitments Of Traders Report: 07/27/04

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

Commercials are turning a bit more bearish with a decrease in
long positions and a small increase in shorts.  Small traders
are naturally turning a bit more bullish with a decrease in
shorts.


Commercials   Long      Short      Net     % Of OI
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%)
07/27/04      397,354   422,914   (25,560)   (3.1%)

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
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%
07/27/04      135,136    90,433    44,703    19.8%

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 decreased their bearishness by
upping their long contacts by about 20K.  Small traders
are hedging their bets a bit by reducing their bullish
positions.


Commercials   Long      Short      Net     % Of OI
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%)
07/27/04      337,615   429,477   ( 91,862)  (12.0%)

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
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%
07/27/04      186,211     68,930   117,281    46.0%

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


NASDAQ-100

Commercial traders are still hovering around the same level
of cautious bullishness for the last three weeks.  Small
traders have moved from bearish to less bearish to neutral
in the last three weeks (thus a bullish progression in
sentiment).


Commercials   Long      Short      Net     % of OI
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%
07/27/04       43,042     35,935     7,107    9.0%

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
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%)
07/27/04       14,543    14,518        25     0.0%

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

The bullish sentiment from the commercial traders dipped
a tad this past week with an increase in their short positions.
Meanwhile small traders have significantly adjusted their
positions to be less bearish.


Commercials   Long      Short      Net     % of OI
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%
07/27/04       27,577    21,427    6,150      12.5%

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
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%)
07/27/04        5,310     6,099   (  789)   ( 6.9%)

Most bearish reading of the year: (12,106) -  3/09/04
Most bullish reading of the year:   8,523  -  8/26/03

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


==================================================================
WATCH LIST
==================================================================

The PremierInvestor.net watch list is not designed to be read
as full fledged stock picks.  Rather we would prefer to offer
it as an extra tool in today's investor toolbox.  Think of it
as a radar screen with your own radar operator pointing out
interesting developments, technical patterns or potential plays
that you may or may not have seen on your own.  Due to time
constraints we do glance at the news but rarely do we have
time to fully read pertinent news stories, due background
research and other necessary screens that investors should do
before making a decision.  A common exercise is to read the
entry, glance at the sector and other stocks in that industry
and then compare what's happening in the stock to what's
happening in the broader market indices.  We hope you enjoy
the Watch List and that it proves to be a useful tool for your
own trading success.

STOCKS WORTH WATCHING
---------------------------------

Security to Salt and more!

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

Alpharma Inc - ALO - close: 16.44 change: -0.58

WHAT TO WATCH: Yet another closing low for ALO.  The stock has
been crushed during the month of July falling from the $21 level
to hit new one-year lows and break through the bottom of its very
wide trading range.  The Wednesday to Friday rebound has failed
again and the stock is falling on strong volume.  While this
looks like a spot to consider new bearish plays - be careful.
ALO's P&F chart is bearish and points to an $11 target but it's
currently testing P&F support at the $16 level.




---

Brinks Co - BCO - close: 32.35 change: +0.278

WHAT TO WATCH: BCO has been on the watch list before.  The
stock's relative strength is impressive and shares have been
channeling higher for months.  Buying dips at the simple 50-dma
has been the way to go.  We strongly considered buying the bounce
on Friday with a stop loss under $31.00 and a $35-36 target,
especially with the MACD indicator so close to producing a new
"buy" signal.  Unfortunately, BCO is due to report earnings on
August 4th and we don't like to hold over an earnings
announcement.  We'll certainly be watching how investors react to
the report.




---

Compass Minerals - CMP - close: 20.42 change: +0.48

WHAT TO WATCH: CMP has been a strong performer this year.  This
salt and sulfate miner is breaking out over resistance at the $20
level.  Short-term technicals are bullish.  We strongly
considered going long here but volume is very low and the company
is due to report earnings on August 4th.




---

Siebel Systems - SEBL - close: 8.10 change: +0.09

WHAT TO WATCH: The GSO software index has been bouncing sharply
as the market rebound from oversold territory.  We want to keep
an eye on software stock SEBL for a breakout over resistance at
$8.25-8.40.  Shares of SEBL are very oversold so any sort of
rally could panic the shorts a bit.  If you look at the bigger
picture SEBL has been in a channel since February.  A bounce back
toward the top of the channel could put it near $9.50-10.00.





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

KFX $7.93 +0.13 - KFX is another software stock that appears to
be forming a potential bottom.  Watch out for resistance at
$8.00, 8.50, its simple 100-dma and the $9.00 level.

CP $25.47 -0.34 - CP is seeing some profit taking after its
recent two-day rally and breakout but bulls appear to be buying
the dip toward the simple 200-dma.

LEG $27.05 +0.26 - LEG is very close to breaking out from its
recent six-week trading range.  The MACD is close to producing a
new buy signal.


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





PremierInvestor.net Newsletter          Weekend Edition 08-01-2004
                                                    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
  New Bullish Plays:     FCS, RSAS
  Bearish Play Updates:  CCBL, CMTL

Active Trader (Non-tech)
  Bearish Play Updates:  DLTR
  Closed Bearish Plays:  WWW

High Risk/Reward
  Bearish Play Updates:  ENDP

Stock Splits
  Announcements:         ENSI


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

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

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

Fairchild Semi. - FCS - close: 14.69 chg: +0.34 stop: 13.49

Company Description:
Fairchild Semiconductor is a leading global supplier of high-
performance products for multiple end markets. With a focus on
developing leading-edge power and interface solutions to enable
the electronics of today and tomorrow, Fairchild's components are
used in computing, communications, consumer, industrial and
automotive applications. Fairchild's 9,000 employees design,
manufacture and market power, analog & mixed signal, interface,
logic and optoelectronics products from its headquarters in South
Portland, Maine, USA and numerous locations around the world.
(source: company press release)

Why We Like It:
Semiconductor stocks suffered a very nasty July.  The SOX index
plummeted and didn't stop until it bounced from the bottom of its
descending channel.  Now that the bounce is underway we don't
want to miss but it was tough choosing a semiconductor stock that
actually appeared to have a chance at out-performing its peers.
We think FCS is it.  Shares of FCS actually bottomed in mid-July
and got a mild boost after reporting earnings that beat estimates
by 3 cents a share.  FCS dipped again in late July but managed a
higher low.  We believe that if FCS can breakout over its mid-
July high at $15.19 and resistance at the $15.00 level it could
rebound to the $17.50-18.00 region.

We are going to use a TRIGGER at $15.20 to open the play for us.
Until FCS trades at $15.20 we'll sit on the sidelines at wait.
More conservative traders wan wait for a move past the simple 50-
dma near $16.00.  We'll use a stop los at $13.49 if we're
triggered.  This is somewhat of an aggressive play with higher
risk given the bearish P&F chart but if we use a trigger we
should be all right.

Annotated Chart:



Picked on August xx at $xx.xx <-- see TRIGGER
Gain since picked:     + 0.00
Earnings Date        07/15/04 (confirmed)
Average Daily Volume:     2.6 million



---

RSA Security - RSAS - close: 18.61 chg: +0.16 stop: 16.50

Company Description:
RSA Security Inc. helps organizations protect private information
and manage the identities of people and applications accessing
and exchanging that information. RSA Security's portfolio of
solutions -- including identity & access management, secure
mobile & remote access, secure enterprise access and secure
transactions -- are all designed to provide the most seamless e-
security experience in the market. Our strong reputation is built
on our history of ingenuity, leadership, proven technologies and
our more than 15,000 customers around the globe. Together with
more than 1,000 technology and integration partners, RSA Security
inspires confidence in everyone to experience the power and
promise of the Internet. (source: company press release)

Why We Like It:
Computer, networking and Internet security continues to be a
growing field for information technology.  Now that the GSO
software index has joined the NASDAQ in an oversold bounce we
feel that RSAS can out perform its peers on the rebound.
Technically RSAS is bouncing from its oversold condition and its
short-term technicals are bullish.  Plus, its MACD is extremely
close to producing a new "buy" signal.   The P&F chart is also
noteworthy because RSAS has been rebounding from the trendline of
support for months.

We're going to suggest bullish positions at current levels.  More
aggressive players can look for a dip back to $18.00 and buy a
bounce.  More conservative traders can wait for a breakout over
the $19.00 level, which has been minor resistance in the past.
We're going to target a move to the $21-22 range.

Annotated Chart:



Picked on August 01 at $18.61
Gain since picked:     + 0.00
Earnings Date        07/22/04 (confirmed)
Average Daily Volume:     988 thousand




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

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

C-COR.net - CCBL - close: 8.12 chg: +0.04 stop: 8.51

The breakdown that began last Friday-Monday looked great but the
descent has been halted by a very broad-based oversold bounce in
the markets.  Thankfully CCBL hasn't participated very much in
the broader market rebound but it has managed to close back above
the pivotal $8.00 level.  This has turned most of CCBL's
technical indicators bullish.  We are very cautious here and we
do not suggest new bearish positions until CCBL trades back under
the $7.90 mark.  Fortunately, CCBL's P&F chart remains very
bearish with a $4.00 price target.

Annotated Chart:




Picked on July 23 at $ 7.95
Gain since picked:   + 0.17
Earnings Date      08/19/04 (confirmed)
Average Daily Volume:    621 thousand



---

Comtech Telcom - CMTL - close: 19.90 change: +0.09 stop: 20.35*new*

Uh-oh!  This is starting to smell like a bottom in CMTL.  This
communications stock has been caught up in the technology rebound
this past week and now shares are challenging resistance at the
$20 level and its simple 50-dma.  Technicals have turned positive
and its MACD is about to produce a new buy signal.  Conservative
traders might want to keep a tight reign on this play and use a
tighter stop loss.  We're going to lower ours to $20.35 near the
simple 100-dma.  Should we be stopped out traders can keep CMTL
on their watch list for a bounce and failed rally under $22.00,
which is resistance on the P&F chart.  We are not suggesting new
bearish positions at this time.

Annotated chart:



Picked on July 21 at $19.20
Gain since picked:   + 0.70
Earnings Date      06/08/04 (confirmed)
Average Daily Volume:   400 thousand




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

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

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

Dollar Tree Stores - DLTR - close: 26.91 chg: +0.12 stop: 27.75

DLTR is producing a lot of volatility lately.  The stock dipped
to new relative lows ($25.37) on Wednesday as the markets sank.
Then the very next day soared back toward the $27.50 level before
rolling over again in the afternoon.  Friday's 12-cent gain
actually produced another bullish turn into the mix.  The long-
term prevailing trend is still bearish and we like the short-term
trend of lower highs but we're cautious here with DLTR above the
$26 level.  We would not suggest new bearish positions until DLTR
traded back under the $26.00 level.

Annotated Chart:



Picked on July 26 at $25.95
Gain since picked:   + 0.96
Earnings Date      08/25/04 (unconfirmed)
Average Daily Volume:   1.5 million




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

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

Wolverine Worldwide - WWW - close: 23.38 chg: +0.08 stop: 22.80

WWW is not cooperating.  The stock produced a huge rebound on
Thursday as the broader market generated an oversold bounce. We
really don't like WWW's bounce because the stock is now back
above its simple 10 and 200-dma's.  Furthermore its short-term
technicals have turned positive and its MACD is about to produce
a new "buy" signal.  We're going to close this play un-opened
since WWW never broke support at $22.00 and never hit our entry
point at $21.99.  We will keep WWW on our internal radar screen
to see how shares react to overhead resistance at $24.00 and its
21-dma.

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




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

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

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

Endo Pharmaceuticals - ENDP - cls: 19.20 chg: -0.04 stop: 20.26*new*

We can't complain with the action in shares of ENDP.  Last Monday
the stock quickly hit our trigger to go short at $19.49.  The
breakdown under support at $20.00 and the $19.50 level came on
stronger than average volume.  We've seen some follow through as
ENDP hit $18.52 on Wednesday but like most of the market ENDP
produced an oversold bounce later in the week.  Fortunately, the
rebound in ENDP is already beginning to fade under its simple 10-
dma.  This looks like an entry point for new positions if you
missed it the first time.  We're going to lower our stop loss to
$20.26.  The P&F chart is looking increasingly bearish with its
$14 target.  We will continue to target the $15-14 level.

Annotated Chart:



Picked on July 26 at $19.49
Gain since picked:   - 0.29
Earnings Date      07/14/04 (confirmed)
Average Daily Volume:   871 thousand




==================================================================
Stock Splits
==================================================================

Announcements
-------------

ENSI announces a 3-for-2 split with earnings

Friday afternoon before the closing bell EnergySouth, Inc.
(NASDAQ:ENSI) announced its third quarter earnings and with
earnings a 3-for-2 stock split.

The split will be payable on September 1st, 2004 to shareholders
on record as of August 16th.  Fractional shares will be paid in
cash.

The BoD also announced a 20 cent cash dividend to be paid on a
post-split basis on October 1st for shareholders of record on
September 15th.


About the company:
EnergySouth, Inc. is the holding company for a family of energy
businesses. Mobile Gas purchases, sells, and transports natural
gas to approximately 100,000 residential, commercial, and
industrial customers in Mobile, Alabama and surrounding areas. The
company also provides merchandise sales, service, and financing.
(Source: Company Press Release)


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Do not duplicate or redistribute in any form.






PremierInvestor.net Newsletter          Weekend Edition 08-01-2004
                                                    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 August 2nd, 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 August 2nd
==========================================

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

Symbol  Co               Date           Comment      EPS Est

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

ABN    ABN Amro Hldgs      Mon, Aug 2  Before the Bell        N/A
AMT    American Tower Corp Mon, Aug 2  Before the Bell      -0.16
ARI    Arden Realty Inc    Mon, Aug 2  After the Bell        0.63
BBD    Banco Bradesco S.A. Mon, Aug 2  -----N/A-----          N/A
SAN    Banc SantanderChile Mon, Aug 2  -----N/A-----         0.53
CUZ    Cousins Props Inc   Mon, Aug 2  After the Bell        0.55
ETR    Entergy             Mon, Aug 2  Before the Bell       1.14
FHCC   First Health Grp    Mon, Aug 2  Before the Bell       0.32
GTM    GULFTERRA ENERGY    Mon, Aug 2  Before the Bell       0.51
HMY    Harmony Gold Mining Mon, Aug 2  Before the Bell      -0.03
HBC    HSBC Hldgs plc      Mon, Aug 2  Before the Bell        N/A
MVSN   Macrovision         Mon, Aug 2  After the Bell        0.18
MNT    Mentor              Mon, Aug 2  After the Bell        0.34
MCY    Mercury General     Mon, Aug 2  -----N/A-----         1.02
NNDS   NDS Grp PLC         Mon, Aug 2  Before the Bell       0.19
NKTR   NEKTAR THERAPEUTICS Mon, Aug 2  -----N/A-----        -0.29
NTES   Netease.com Inc     Mon, Aug 2  After the Bell        0.40
OKE    ONEOK Inc.          Mon, Aug 2  After the Bell        0.16
PHRM   Pharmion Corp       Mon, Aug 2  After the Bell       -0.55
PXD    Pioneer Nat Res     Mon, Aug 2  Before the Bell       0.72
PPS    Post Props, Inc     Mon, Aug 2  After the Bell        0.39
PG     Procter & Gamble Co Mon, Aug 2  Before the Bell       0.48
QGENF  Qiagen N.V.         Mon, Aug 2  After the Bell        0.08
RJR    R.J. Rynlds Tbcco   Mon, Aug 2  Before the Bell       1.24
SUG    Southern Union Co   Mon, Aug 2  Before the Bell       0.04
SPW    SPX                 Mon, Aug 2  Before the Bell       0.71
SRX    SRA Intl, Inc.      Mon, Aug 2  After the Bell        0.39
STO    Statoil ASA         Mon, Aug 2  Before the Bell        N/A
TLTOB  Tele2 AB            Mon, Aug 2  Before the Bell        N/A
TPP    Teppco              Mon, Aug 2  After the Bell        0.39
PFG    The Principal Finl  Mon, Aug 2  After the Bell        0.58
TP     TPG NV              Mon, Aug 2  Before the Bell       0.43
UCL    Unocal              Mon, Aug 2  After the Bell        0.83
WGL    WGL Hldgs           Mon, Aug 2  Before the Bell      -0.16


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

ASX    Adv Semicon Eng     Tue, Aug 3  -----N/A-----         0.09
AAA    Altana AG           Tue, Aug 3  Before the Bell        N/A
ACAS   Am Capital Strategy Tue, Aug 3  -----N/A-----         0.67
AMH    AmerUs Grp Co.      Tue, Aug 3  After the Bell        1.00
AHL    Aspen Ins Hldgs Ltd Tue, Aug 3  After the Bell        0.79
AGO    Assured Guaranty    Tue, Aug 3  After the Bell        0.44
ITU    Banco Itau Hldg Fin Tue, Aug 3  -----N/A-----          N/A
BOX    BOC Grp PLC         Tue, Aug 3  -----N/A-----         0.60
FUN    Cedar Fair LP       Tue, Aug 3  -----N/A-----         0.36
CEPH   Cephalon, Inc.      Tue, Aug 3  After the Bell        0.39
CKFR   CheckFree           Tue, Aug 3  After the Bell        0.29
CZN    Citizens Comm Co.   Tue, Aug 3  Before the Bell       0.11
COH    Coach, Inc.         Tue, Aug 3  Before the Bell       0.31
CEI    Crescent Rl Est Eq  Tue, Aug 3  Before the Bell       0.27
CMLS   Cumulus Media Inc.  Tue, Aug 3  Before the Bell       0.17
DVA    DaVita              Tue, Aug 3  Before the Bell       0.51
DTC    Domtar Inc.         Tue, Aug 3  Before the Bell        N/A
EDMC   Education Mgmt Corp Tue, Aug 3  After the Bell        0.18
EMR    Emerson Electric    Tue, Aug 3  Before the Bell       0.75
ETM    Entercom Comm       Tue, Aug 3  Before the Bell       0.45
EOG    EOG Resources, Inc. Tue, Aug 3  -----N/A-----         1.00
EPC    Epcos               Tue, Aug 3  -----N/A-----          N/A
EOP    Eq Office Prps TrustTue, Aug 3  Before the Bell       0.65
EQR    Equity Residential  Tue, Aug 3  Before the Bell       0.53
FTI    Fmc Tech, Inc.      Tue, Aug 3  Before the Bell       0.30
FBR    Friedman Bill RamseyTue, Aug 3  After the Bell        0.57
GGB    Gerdau S.A.         Tue, Aug 3  -----N/A-----         0.36
GLG    Glamis Gold Ltd     Tue, Aug 3  Before the Bell       0.04
HCC    HCC Ins Hldgs       Tue, Aug 3  After the Bell        0.68
HNT    Health Net, Inc.    Tue, Aug 3  Before the Bell       0.50
HTG    Hrtge Prop Inv Trst Tue, Aug 3  After the Bell        0.67
IMDC   INAMED              Tue, Aug 3  After the Bell        0.52
IACI   InterActiveCorp     Tue, Aug 3  After the Bell        0.21
IPR    Intl Power          Tue, Aug 3  -----N/A-----          N/A
KZL    Kerzner Intl Ltd    Tue, Aug 3  -----N/A-----         0.89
KCI    KINETIC CONCEPTS INCTue, Aug 3  Before the Bell       0.36
LAF    Lafarge North Am    Tue, Aug 3  After the Bell        1.15
MPG    Maguire Props, Inc. Tue, Aug 3  After the Bell        0.46
MLM    Martin Marietta Mat Tue, Aug 3  Before the Bell       0.92
MDP    Meredith Corp       Tue, Aug 3  Before the Bell       0.72
MICC   Millicom Intl Cell  Tue, Aug 3  -----N/A-----         0.27
MLS    Mills Corp          Tue, Aug 3  Before the Bell       0.90
NFP    Natl Finl Partners  Tue, Aug 3  After the Bell        0.48
OCAS   Ohio Casualty       Tue, Aug 3  After the Bell        0.33
PDX    Pediatrix Med Grp   Tue, Aug 3  Before the Bell       0.99
PFGC   PERFORMANCE FOOD GRPTue, Aug 3  Before the Bell       0.38
PER    Perot Systems       Tue, Aug 3  Before the Bell       0.15
PCG    PG&E Corp           Tue, Aug 3  Before the Bell       0.53
PL     Protective Life CorpTue, Aug 3  -----N/A-----         0.77
PDLI   Protein Design      Tue, Aug 3  After the Bell       -0.12
PRU    Prudential Finl, IncTue, Aug 3  After the Bell        0.78
KWK    Quicksilver Res     Tue, Aug 3  After the Bell        0.16
Q      Qwest Comm          Tue, Aug 3  Before the Bell      -0.13
RYAAY  Ryanair Hldgs       Tue, Aug 3  -----N/A-----         0.37
SILI   Siliconix           Tue, Aug 3  Before the Bell       0.55
THC    Tenet Healthcare    Tue, Aug 3  Before the Bell      -0.01
TEVA   Teva Pharmaceutical Tue, Aug 3  Before the Bell       0.32
TM     Toyota Motor Corp   Tue, Aug 3  -----N/A-----         1.56
TYC    Tyco Intl           Tue, Aug 3  Before the Bell       0.41
WPI    Watson Pharm, Inc.  Tue, Aug 3  Before the Bell       0.41


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

AEM    Agnico-Eagle Mines  Wed, Aug 4  After the Bell       0.11
AOC    Aon Corp            Wed, Aug 4  After the Bell       0.52
AIV    Apartment Inv & MgmtWed, Aug 4  Before the Bell      0.64
WTR    Aqua America        Wed, Aug 4  Before the Bell      0.19
AXS    Axis Capital Hldgs  Wed, Aug 4  After the Bell       0.86
BF     BASF                Wed, Aug 4  -----N/A-----         N/A
BCE    BCE                 Wed, Aug 4  Before the Bell       N/A
BVF    Biovail Corp        Wed, Aug 4  Before the Bell      0.24
BSG    BISYS GRP INC       Wed, Aug 4  Before the Bell      0.17
BSY    British Sky Brdcst  Wed, Aug 4  -----N/A-----         N/A
CDIS   Cal Dive Intl       Wed, Aug 4  After the Bell       0.37
CNQ    Canadian Natural ResWed, Aug 4  -----N/A-----        0.97
CI     CIGNA               Wed, Aug 4  Before the Bell      1.25
XEC    Cimarex Energy Co.  Wed, Aug 4  -----N/A-----        0.76
CNO    CONSECO INC         Wed, Aug 4  After the Bell       0.37
CXR    COX RADIO INC       Wed, Aug 4  Before the Bell      0.20
CSR    Credit Suisse Grp   Wed, Aug 4  Before the Bell       N/A
CVS    CVS Corp            Wed, Aug 4  Before the Bell      0.54
FST    Forest Oil Corp     Wed, Aug 4  After the Bell       0.51
FMS    Fresenius Med Care  Wed, Aug 4  -----N/A-----         N/A
GPK    GRAPHIC PACKAGING   Wed, Aug 4  -----N/A-----         N/A
HIG    Hartford Finl Serv  Wed, Aug 4  After the Bell       1.57
HIW    Highwoods Props     Wed, Aug 4  After the Bell       0.55
ICOS   ICOS Corp           Wed, Aug 4  -----N/A-----       -0.98
ICST   Intgrtd Crct Sys    Wed, Aug 4  Before the Bell      0.26
JBX    Jack in the Box     Wed, Aug 4  -----N/A-----        0.54
KYPH   Kyphon, Inc.        Wed, Aug 4  After the Bell       0.08
NFS    Ntnwd Finl Services Wed, Aug 4  After the Bell       0.80
NCRX   NeighborCare, Inc.  Wed, Aug 4  After the Bell       0.24
NTLI   NTL INC             Wed, Aug 4  -----N/A-----       -2.57
OGE    OGE Energy          Wed, Aug 4  Before the Bell      0.43
PAA    Plains All Am Ppln  Wed, Aug 4  Before the Bell      0.55
PTP    Plat Undrwrtrs HldgsWed, Aug 4  After the Bell       0.84
RL     Polo Ralph Lauren   Wed, Aug 4  Before the Bell      0.11
RA     Reckson Ass Realty  Wed, Aug 4  After the Bell       0.54
RRI    Reliant Energy      Wed, Aug 4  -----N/A-----       -0.02
RRD    RR Donnelley        Wed, Aug 4  After the Bell       0.30
SPIL   SILICONWARE PRCISIONWed, Aug 4  -----N/A-----        0.10
TRK    Speedway MotorsportsWed, Aug 4  Before the Bell      0.91
SWC    Stillwater Mining CoWed, Aug 4  Before the Bell      0.13
TSO    Tesoro Petroleum    Wed, Aug 4  Before the Bell      2.56
BCO    The Brink's Co      Wed, Aug 4  Before the Bell      0.33
TOM    Tommy Hilfiger      Wed, Aug 4  -----N/A-----       -0.10
UVN    Univision Comm      Wed, Aug 4  After the Bell       0.19
UNM    UnumProvident Corp  Wed, Aug 4  After the Bell       0.39
WR     Westar Energy, Inc. Wed, Aug 4  Before the Bell      0.33
WWCA   Western Wireless    Wed, Aug 4  After the Bell       0.37


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

AL     Alcan Inc.          Thu, Aug 5  -----N/A-----         0.66
ATK    Alliant Techsystems Thu, Aug 5  Before the Bell       0.72
AMLN   Amylin Pharm        Thu, Aug 5  Before the Bell      -0.40
AAUK   Anglo American Plc  Thu, Aug 5  -----N/A-----          N/A
AIZ    ASSURANT INC        Thu, Aug 5  Before the Bell       0.63
BCS    Barclays Bank PLC   Thu, Aug 5  -----N/A-----          N/A
BRL    Barr PharmaceuticalsThu, Aug 5  Before the Bell       0.57
BE     BearingPoint, Inc.  Thu, Aug 5  Before the Bell       0.08
BIO    Bio-Rad LaboratoriesThu, Aug 5  After the Bell        0.80
BNN    BRASCAN CORP        Thu, Aug 5  Before the Bell       0.50
BGG    Briggs & Stratton   Thu, Aug 5  Before the Bell       1.53
CPN    Calpine Corp        Thu, Aug 5  Before the Bell      -0.10
CPT    Camden Prop Trust   Thu, Aug 5  After the Bell        0.79
CHC    CharterMac          Thu, Aug 5  Before the Bell       0.63
CDL    CITADEL BRDCST CORP Thu, Aug 5  -----N/A-----         0.04
CLX    Clorox              Thu, Aug 5  Before the Bell       0.83
CMS    CMS Energy Corp.    Thu, Aug 5  Before the Bell       0.07
CXW    Corrections Corp. AmThu, Aug 5  Before the Bell       0.37
DEG    Delhaize Grp        Thu, Aug 5  Before the Bell        N/A
DVN    Devon Energy Corp   Thu, Aug 5  Before the Bell       2.02
GMST   Gmstr-TV Guide Intl Thu, Aug 5  After the Bell       -0.02
GPRO   Gen-Probe           Thu, Aug 5  After the Bell        0.19
GT     Goodyear Tire RubberThu, Aug 5  Before the Bell       0.08
THX    Houston Exploration Thu, Aug 5  -----N/A-----         1.51
IDA    Idacorp Hldg        Thu, Aug 5  Before the Bell       0.25
IST    Ispat Intl          Thu, Aug 5  -----N/A-----          N/A
KPP    Kaneb Pipe Line PartThu, Aug 5  Before the Bell       0.71
KSE    KeySpan             Thu, Aug 5  Before the Bell       0.19
KG     King PharmaceuticalsThu, Aug 5  Before the Bell       0.23
KOSP   Kos Pharmaceuticals Thu, Aug 5  Before the Bell       0.54
LAMR   LAMAR ADVERTISING COThu, Aug 5  Before the Bell       0.10
LFL    LAN Chile           Thu, Aug 5  -----N/A-----         0.24
MAC    Macerich Co         Thu, Aug 5  Before the Bell       0.89
CLI    Mack-Cali Realty    Thu, Aug 5  Before the Bell       0.87
MGA    Magna Intl Inc.     Thu, Aug 5  -----N/A-----         1.95
MFC    Manulife Finl Corp  Thu, Aug 5  After the Bell        0.54
NRG    NRG Energy          Thu, Aug 5  -----N/A-----          N/A
NVDA   NVIDIA Corp         Thu, Aug 5  -----N/A-----         0.15
OHP    Oxford Health Plans Thu, Aug 5  Before the Bell       0.96
PNRA   Panera Bread        Thu, Aug 5  -----N/A-----         0.21
PEI    Penn Rl Est Inv TrstThu, Aug 5  Before the Bell       0.85
PIXR   Pixar Anim Studios  Thu, Aug 5  After the Bell        0.37
PXP    Plains Explor Prod  Thu, Aug 5  Before the Bell       0.42
PDE    Pride Intl Inc.     Thu, Aug 5  After the Bell        0.05
PSA    Public Storage      Thu, Aug 5  -----N/A-----         0.76
PSD    Puget Energy        Thu, Aug 5  After the Bell        0.13
RWT    Redwood Trust, Inc. Thu, Aug 5  -----N/A-----          N/A
RUK    Reed Elsevier NV/PlcThu, Aug 5  -----N/A-----          N/A
RMD    ResMed Inc.         Thu, Aug 5  After the Bell        0.46
RBA    Ritchie Bros AuctionThu, Aug 5  Before the Bell       0.41
SLE    Sara Lee            Thu, Aug 5  Before the Bell       0.43
SRE    Sempra Energy       Thu, Aug 5  -----N/A-----         0.65
SNN    Smith & Nephew      Thu, Aug 5  Before the Bell       0.49
STRA   Strayer Education   Thu, Aug 5  Before the Bell       0.73
TLD    TDC A/S             Thu, Aug 5  -----N/A-----          N/A
NZT    Telecom Corp Nw ZlndThu, Aug 5  -----N/A-----          N/A
TS     TENARIS S A         Thu, Aug 5  -----N/A-----         0.60
DTV    The DIRECTV Grp     Thu, Aug 5  -----N/A-----         0.06
IPG    Intrpblc Grp Co     Thu, Aug 5  Before the Bell       0.09
PMI    The PMI Grp, Inc.   Thu, Aug 5  -----N/A-----         0.94
SVM    The ServiceMaster CoThu, Aug 5  Before the Bell       0.24
TOT    Total               Thu, Aug 5  Before the Bell       2.22
TRZ    Trizec Props, Inc.  Thu, Aug 5  Before the Bell      -0.59
UVV    Universal Corp      Thu, Aug 5  After the Bell         N/A
VRX    Valeant Pharm Intl  Thu, Aug 5  Before the Bell      -0.01
VPI    Vintage Petroleum   Thu, Aug 5  -----N/A-----         0.51
HLTH   WebMD               Thu, Aug 5  After the Bell        0.10
WGR    Western Gas Res     Thu, Aug 5  Before the Bell       0.38
WMB    Williams Co Inc.    Thu, Aug 5  Before the Bell       0.07
WEC    Wis Energy Corp     Thu, Aug 5  Before the Bell       0.26
XMSR   XM Satellite Radio  Thu, Aug 5  Before the Bell      -0.88


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

ASN    Archstone-Smith TrstFri, Aug 6  Before the Bell       0.45
AXA    AXA                 Fri, Aug 6  -----N/A-----          N/A
EAGL   EGL                 Fri, Aug 6  Before the Bell       0.25
ERF    Enerplus Res Fund   Fri, Aug 6  Before the Bell        N/A
HME    Home Props, Inc.    Fri, Aug 6  Before the Bell       0.75
KUB    Kubota Ltd          Fri, Aug 6  -----N/A-----          N/A
MXIM   Maxim Intgrtd Prod  Fri, Aug 6  After the Bell        0.36
POM    Pepco Hldgs, Inc.   Fri, Aug 6  -----N/A-----         0.28
TU     TELUS               Fri, Aug 6  -----N/A-----          N/A
TGN    Texas Genco Hldgs   Fri, Aug 6  Before the Bell        N/A


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

Symbol  Co Name              Ratio    Payable     Executable

VAR     Varian Medical Systems Inc2:1      Jul  30th   Aug   2nd
GTK     GTECH Holdings Corp       2:1      Jul  30th   Aug   2nd
CAPX    Capital Crossing Bank     2:1      Aug   9th   Aug  10th
QCOM    Qualcomm Inc              2:1      Aug  13th   Aug  16th


--------------------------
Economic Reports This Week
--------------------------

Wall Street is still wading through a wave of Q2 earnings but
the stream of economic data coming out this week is likely to
take center stage.  The ISM index is on Monday.  Factory orders
and ISM Services come out on Wednesday just to name a few.

==============================================================
                       -For-
----------------
Monday, 08/02/04
----------------
Auto Sales (NA)            Jul  Forecast:    5.6M  Previous:     4.9M
Truck Sales (NA)           Jul  Forecast:    7.6M  Previous:     7.1M
Construction Spending (DM) Jun  Forecast:   -0.1%  Previous:     0.3%
ISM Index (DM)             Jul  Forecast:    62.0  Previous:     61.1


-----------------
Tuesday, 08/03/04
-----------------
Personal Income (BB)       Jun  Forecast:    0.3%  Previous:     0.6%
Personal Spending (BB)     Jun  Forecast:    0.0%  Previous:     1.0%


-------------------
Wednesday, 08/04/04
-------------------
Factory Orders (DM)        Jun  Forecast:    0.6%  Previous:    -0.3%
ISM Services (DM)          Jul  Forecast:    61.5  Previous:     59.9
Crude oil and Gasoline inventories

------------------
Thursday, 08/05/04
------------------
Initial Claims (BB)      07/30  Forecast:     N/A  Previous:     345K
Natural Gas inventories

----------------
Friday, 08/06/04
----------------
Nonfarm Payrolls (BB)      Jul  Forecast:    233K  Previous:     112K
Unemployment Rate (BB)     Jul  Forecast:    5.6%  Previous:     5.6%
Hourly Earnings (BB)       Jul  Forecast:    0.3%  Previous:     0.1%
Average Workweek (BB)      Jul  Forecast:    33.8  Previous:     33.6
Consumer Credit (DM)       Jun  Forecast:   $4.0B  Previous:    $8.2B


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

TOT     Total SA (ADS)             91.35    +0.53
SI      Siemens Aktien             70.24    +0.80
COP     Conocophillips             78.77    +0.67
FDC     First Data Corp            44.61    +0.71
CAJ     Canon Inc (ADR)            49.00    +0.82
BUD     Anheuser-Busch Cos Inc     51.90    +0.72


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

ISIL    Intersil Holding Corp      18.36    +1.69
GES     Guess? Incorporated        16.20    +1.18
SNDA    Shanda Interactive Ent Ltd 19.00    +1.65
APE     Sapient Corp                6.97    +1.69
INSU    Insituform Technols CI A   17.97    +1.86


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

GILD    Gilead Sciences Inc        64.64    +5.14
MCO     Moody's Corporation        68.10    +2.41
KLAC    KLA-Tencor Corp            41.23    +2.42
RJR     RJ Reynolds Tobbaco Hldg   71.95    +1.70
VAR     Varian Medical Systems Inc 69.01    +5.15


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

ACS     Affiliated Computer Svc    51.90    -1.16
PCO     Premcor Inc                35.90    -1.50
UTR     Unitrin Inc                41.65    -1.23
PHS     Pacificare Hlt Sys B New   30.57    -3.36
STRA    Strayer Education Inc      97.42    -3.17


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

None


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