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Daily Newsletter, Tuesday, 08/03/2004

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PremierInvestor.net Newsletter                  Tuesday 08-03-2004
                                                    section 1 of 2
Copyright (c) 2004, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================

In section one:

Market Wrap:      Fed Drains, Oil Rises, Stocks Sink
Watch List:       BLI, NXTL,SMTC, NVLS
Market Sentiment: Confidence Weakening

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
     08-03-2004            High     Low     Volume Advance/Decline
DJIA    10120.24 – 58.92 10178.28 10102.84 1.60 bln   1140/1649
NASDAQ   1859.42 – 32.67  1887.57  1859.17 1.48 bln    977/2053
S&P 100   537.92 -  2.49   540.87   537.53   Totals   2117/3702
S&P 500  1099.69 -  6.93  1106.62  1099.20
RUS 2000  543.63 -  8.30   551.93   543.47
DJ TRANS 3120.54 – 13.61  3147.50  3118.85
VIX        16.03 +  0.66    16.05    15.28
VXO        15.21 +  0.59    15.44    14.80
VXN        25.08 +  0.95    25.16    24.31
Total Volume 3,366M
Total UpVol    782M
Total DnVol  2,518M
52wk Highs     127
52wk Lows      182
TRIN          1.59
PUT/CALL      0.73
=================================================================

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

Fed Drains, Oil Rises, Stocks Sink
Jonathan Levinson

The Fed's open market desk allowed 6.5B in maturing repos to
expire unrefunded today, draining that amount from its primary
dealers' accounts.  Oil was higher, continuing its explosive
rally, and the net effect of these two bearish factors was
widespread weakness for equities.  The Nasdaq indices led
strongly to the downside as the volatility indices rose across
the board.

The excess of weakness in the Nasdaq is a problem for the bearish
oil interpretation, as the Nasdaq's 1.73% decline dwarfed the
declines in the Dow (0.6%) and particularly the Dow Transports
(1.0%).  One would think that an oil-based equity decline would
have impacted the TRANs more than the tech-laden Nasdaq.

The weakness was sufficient to hinder the daily cycle upphase
we've been tracking for the past two weeks, with the brunt of the
damage borne by the Nasdaq.


Weekly Dow Chart


Last week reversed the break of the rising weekly trendline and
this week appears to be testing it from beneath, so far
unsuccessfully. The 9900 support level held, but resistance at
10200-10250 remains the key upside level for bulls hoping that
this year's descending pattern is indeed a weekly bull flag.  The
weekly cycle picture has been and remains an ambiguous mess, with
a rising 10-week stochastic competing with a descending Macd.
With the cycle picture this uncertain, my approach is to watch
the range levels while awaiting a resolution to the cycle mess-
in this case, a break below 9900 should see a test of 9800 on the
way to the lower descending flag support line, while a break
above 10250 should see a retest of 10450-10500.  With 10200-10250
being the resistance line of a possible bull flag, a strong, high
volume break of that level would suggest a retest of the year
highs for starters.  The characteristics of the breakout, if it
occurs, will tell us more.


Daily Dow Chart


The Dow closed just above its session low, still holding
yesterday's and Friday's low and preserving the daily uptrend.
The daily cycle oscillators weakened within their upphase but
didn't sustain the same level of damage as seen in the Nasdaq's
daily chart below.  The session high (printed at the open) is at
the descending resistance line, currently 10178, and that line on
a 30 minute chart (not shown) is the neckline of what bulls have
been eyeing as a sloping reverse head and shoulders formation
projecting to an implied target roughly 250 Dow points above it.
Downside support below the session low of 10102 is at 10080,
below which is the former descending resistance line at 10025.


Weekly Nasdaq Chart


The Nasdaq remains the weakest link in last week's bounce
attempt, and this week has so far perpetuated that theme.  The
cycle picture remains more obviously bearish than with the Dow,
but the bull flag is still intact and a small bullish divergence
is evident on the Macd histogram.  Resistance has declined to the
1920 area while lower descending support on the flag lines up
with Fibonacci support at 1760.  1840 has been support so far on
the decline, and that would be the first level at which to scope
for a bounce should we decline from here.


Daily Nasdaq Chart


The Nasdaq's 32.7 point decline left the index resting on the former
descending resistance line, at the equivalent of the Dow's 10025 level
noted above.  The 10-day stochastic left off on a bearish kiss, and the
Macd lost its recently confirmed upphase.  A rollover from here would
turn the entire daily cycle bounce into a bearish whipsaw, and given
the low price and oscillator levels, such would suggest that the bounce
has been a bear flag or some similar distribution pattern projecting to
lower lows below last week's support.  With all intraday cycles
oversold and looking for a bounce, a drop tomorrow would have very
bearish implications and set up the Nasdaq for a retest of l830
support.


Weekly TNX Chart


Bonds have been rising this week as equities declined, is the
type of action I'd expect from defensive market action
attributable to bad "external" news, such as the terrorist news
from Sunday night.  That said, the weekly cycle for bonds is not
ambiguous as it is for equities, with yields in a weekly
downphase.  The ten year note yield (TNX) closed lower by 3 bps
at 4.422%.   Resistance above is at 4.48%, followed by 4.5%,
4.65%, 4.75% and 4.8%, while support is at 4.4%, 4.34% and 4.02%.
A break of that lower support could be a bear wedge breakdown
that would project an implied target back at the 2003 lows for
the TNX (2003 highs for 10-year treasury bonds).

In economic news, the International Council of Shopping Centers
and UBS announced that same-store retail sales rose 0.2% in the
last week. Chains' same-store sales were up 3.1% year-over-year,
with tax breaks and back-to-school sales credited for the
increase.

The Commerce Department announced at 8:30AM that U.S. consumer
spending declined by 0.7% in June, a downside surprise against
expectations of a 0.1% decline and reportedly the largest since
September 2001.  However, personal incomes met expectations with
a 0.2% increase in June, and the personal savings rate rose to 2%
from 1.2%, the largest increase since August 2003.
Notwithstanding the increase in savings, today's readings marked
the slowest income growth in 14 months.

The personal consumption expenditure price index, an index that
the Fed emphasizes over the CPI, rose 0.1% in June, while the
core PCE index excluding food and energy rose 0.2%. The core PCE
index is up 1.5% since last year, and real disposable incomes
were unchanged.

At 10AM, the Challenger & Gray July jobs report was released,
showing an increase in job cuts of 8.1% over June's reading. The
12-month average of job reductions fell from 89,886 in June to
88,590 in July, which was judged to be a weak improvement. Year-
to-date layoffs are down 24% from the first 7 months in 2003, but
Challenger also announced that corporations intend to hire only
26,880 employees, 30% lower than the 38,377 employees in
June.

Around the same time as these reports, from 8:30-10AM, news
stories from the BBC and Reuters discussing Tom Ridge's Sunday
terrorist warning as being old news and possibly politically
motivated began circulating.  Ridge responded to the allegations
later, defending the data upon which the warnings had been based
as "the most significant detailed pieces of information about any
particular regions that we have come across in a long, long time,
perhaps ever and that is why we decided to share it publicly."
Of greatest significance for the financial markets in my view,
the responses to the initial warning on Sunday night / Monday and
to today's story that the warning might not be timely were muted-
the markets neither sold off sharply yesterday nor rallied today.
This is a welcome reprieve from the endless OBL/Saddam rumors and
whipsaws we remember from last year, in which vague stories were
credited with instant directional moves in the markets.

There was some coverage of the new contract highs for front-month
crude oil futures today, with the 44 level broken several times
throughout the day and a session high of 44.225 amid OPEC supply
concerns.  While these are historic price highs, on an inflation-
adjusted basis they are not.  Nevertheless, the rise in oil
prices has been dramatic in the past year.  More expensive oil,
with its inelastic demand, means less available money in the
hands of consumers, corporations and government.


Weekly chart of Crude oil



At midday, GM reported a decline of 3.4% in July sales, while
Ford reported a drop of 6.8%.  BMW lost 4.4%, Mazda -12.2%.
Daimler-Chrysler reported a gain of 2%, Toyota a gain of 13.7%,
Nissan +31% for its best month ever, Suzuki +27%, Honda +0.1%,
Acura +8.1% and Porsche a gain of 6%.

TYC bucked the downward market trend after reporting Q3 earnings
of 43 cents per share, up from 27 cents in Q3 2003.  Excluding
one-time items, the company earned 45 cents per share, beating
estimates of 42 cents.  Revenue rose 11% to $10.5B, beating
estimates of $10.3B.  The company raised its 2004 forecast to
$1.61-$1.63 per share, above estimates of $1.59 per share.  For
the day, the stock closed higher by .58% at 31.42.

Chipmaker VSH got hit after announcing earnings of 22 cents per
share, missing by two pennies but announcing that it does not
expect to see improvements in earnings or revenues until Q4.  The
22 cents it earned this quarter represent an improvement of 20%
in revenues to $646.7M.  The stock closed lower by 15.52% at
13.45.

Tomorrow's session is rich with implications.  The indices spent
the entire day declining to close at their lows.  While the
action can be characterized as a merely corrective intraday
pullback for the Dow and SPX, the action damaged the daily cycle
upphase on the Nasdaq, and the 1.73% drop is sufficiently large
to qualify as impulsive.  In particular, the gains of the past 3
sessions were reversed on the Nasdaq, leaving only last week's
double bottom support between current levels and new lows for the
year.

With that said, it's worth noting that the daily cycle upphase,
even on the Nasdaq, is not yet over and should, all other things
being equal, continue for at least another week.  It's possible
that the Fed's substantial repo drain, announced at 10AM amidst
the furor over the possibility that the Sunday terror alert might
be a dud, could have been a miscalculation by the Fed's open
market desk in an attempt to mitigate a possibly large relief
rally.  That's pure speculation on my part, but if the Fed makes
a large repo announcement tomorrow, it will appear more likely.
In any event, the Nasdaq is at a level where it needs to bounce
to avoid kicking off a new daily cycle downphase from a much
lower price and oscillator high.   A bounce will preserve the
bullish daily cycle outlook, and we'll watch for confirmation in
the form of today's high being exceeded.  No bounce, and the
bulls will have fumbled the ball very close to their endzone.


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


Big Lots Inc - BLI - close: 11.82 change: -0.37

WHAT TO WATCH: BLI's recent breakdown under support near $12.50
is picking up steam.  The move is probably being hastened by
today's disappointing personal spending numbers.  Today's 3%
decline breaks through the $12.00 mark, which could have been
round-number support.  Now BLI doesn't have any support until the
$10.00 region.  Thus this looks like a momentum entry point for
bears.  The negative P&F chart actually points to an $8.00
target.




---

Nextel Communications - NXTL - close: 22.12 change: -0.75

WHAT TO WATCH: The trend of lower highs is picking up steam for
NXTL and the stock is nearing significant support at the $22.00
mark.  While shares are very oversold with its drop from the $27
level in June a breakdown under $22 would be a bearish entry
point.  Readers could target a drop to psychological round-number
support at $20.00 although its P&F chart doesn't show support
until the $18.50-18.00 range.




---

Semtech Corp - SMTC - close: 18.75 change: -1.22

WHAT TO WATCH: Ouch! SMTC's 6.1% drop under performed the SOX's
3.7% drop.  What makes SMTC's fall so interesting is how the move
is a failed rally at the $20 resistance level and its simple 21-
dma.  A downgrade to a "hold" by AG Edwards probably had
something to do with SMTC's weakness.  Readers could use the move
as a bearish entry point with a $15.00 target.  This happens to
coincide with the bearish P&F chart price target.




---

Novellus - NVLS - close: 25.75 change: -0.96

WHAT TO WATCH: NVLS is another semiconductor stock that is
rolling over from last week's oversold bounce.  This looks like a
bearish entry point but more conservative traders may want to
wait for a new relative low under $25.20 or even under the $25.00
mark.  NVLS' bearish P&F chart shows a triple-bottom breakdown
sell signal with a $19.00 target.  We'd probably target a drop to
$20.00.





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

A $23.18 -0.85 - Agilent's oversold bounce is fading as well but
traders might want to wait for a new relative low before
considering bearish positions.

CTXS $16.41 -1.14 - Software stock CTXS hit some heavy profit
taking today.  The next stop is probably the $15 region.

ROST $22.31 -0.47 - The worse than expected personal spending
numbers probably hit ROST as well.  Readers might want to
consider bearish positions on a breakdown under $22.00.

WIN $6.07 -0.16 - Normally we don't like to suggest bearish plays
on stocks in single digits but if WIN breaks the $6.00 mark
there's no telling how low it will go.  Look for some support
near $5.69.


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

Confidence Weakening
- J. Brown

It's amazing how things can change so quickly.  Last week traders
were excited over the possibility of a bounce.  Now that bounce
is fading over record high crude oil prices and disappointing
economic data.

The record close for crude oil is probably the page one story.
Crude closed at $44.15 for the first time ever after OPEC said
the cartel was virtually helpless to influence the rise in oil
because almost all its members are pumping at capacity.  Saudia
Arabia is probably the only member of OPEC who has any excess
capacity left and that's down to 800,000 to 1 million barrels a
day.

Then there's the terror-impact on oil prices.  Some speculate
that there is a $15 "risk" premium built into the price of oil
already.  The recent terror warning this Sunday has only
heightened investors' fears about interruptions in the global oil
supply.

This morning's personal spending data was also disappointing and
impacted the retail sector.  Spending dropped 0.7 percent, which
was significantly more than expected.  Economists were looking
for a drop of just 0.1 percent.  I'll give you one guess on what
could be impacting consumer-spending habits.  Yes, oil prices and
how it impacts consumers' wallets at the pump.  Now we cannot lay
all the blame on high gasoline prices but it's a big influence.

A spike in planned corporate layoffs also fueled concerns that
this Friday's non-farm payrolls report for July may come in
weaker than expected.  If jobs don't pick up it's going to be
another bat for the Democrats to beat President Bush with as we
near the polls.

The rest of the week will be influenced by economic data.
Wednesday brings the factory orders for June, the ISM Services
index for July and crude oil and gasoline inventory data.  Thursday
brings the weekly initial jobless claims and the natural gas
inventories.


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

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  8997
Current     : 10120

Moving Averages:
(Simple)

 10-dma: 10076
 50-dma: 10205
200-dma: 10228



S&P 500 ($SPX)

52-week High: 1163
52-week Low :  960
Current     : 1099

Moving Averages:
(Simple)

 10-dma: 1095
 50-dma: 1112
200-dma: 1107



Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1204
Current     : 1379

Moving Averages:
(Simple)

 10-dma: 1389
 50-dma: 1429
200-dma: 1446



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

CBOE Market Volatility Index (VIX) = 16.03 +0.66
CBOE Mkt Volatility old VIX  (VXO) = 15.21 +0.59
Nasdaq Volatility Index (VXN)      = 25.08 +0.95


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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.73        544,250       344,652
Equity Only    0.54        396,065       215,231
OEX            1.15         16,835        19,299
QQQ            0.77         20,665        15,915


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

Bullish Percent Data

           Current   Change   Status
NYSE          59.8    + 0     Bear Confirmed
NASDAQ-100    34.0    + 1     Bear Confirmed
Dow Indust.   53.3    + 0     Bear Confirmed
S&P 500       53.6    + 0     Bear Confirmed
S&P 100       54.0    - 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: 1.14
10-dma: 1.19
21-dma: 1.33
55-dma: 1.18


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    1140       977
Decliners    1649      2053

New Highs      62        40
New Lows       44        81

Up Volume    516M      211M
Down Vol.   1074M     1226M

Total Vol.  1602M     1479M
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




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




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DISCLAIMER
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Do not duplicate or redistribute in any form.





PremierInvestor.net Newsletter                  Tuesday 08-03-2004
                                                    section 2 of 2
Copyright (c) 2004, All rights reserved.
Redistribution in any form is strictly prohibited.

The entire newsletter is best viewed in COURIER 10 for alignment
=================================================================

Stop Adjustments: ENDP
Stock Splits:     TCB

Trading Ideas
  Value Plays With Bullish Signals
  Breakout to Upside (Stocks $5 to $20)
  Breakout to Upside (Stocks over $20)
  Breakout to Downside (Stocks over $20)
  Recently Overbought With Bearish Signals (Stocks over $20)


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

ENDP - high risk/reward short -
 Lower stop from $20.26 to $20.06


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

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

TCB announces a 2-for-1 stock split

This morning before the opening bell TCF Financial Corp (NYSE:TCB)
announced that its Board of Directors had approved a 2-for-1 stock
split of its common shares.

The split will take affect as a 100% stock dividend payable on
September 3rd, 2004 to shareholders on record as of August 13th.
Post-split TCB will have approximately 140 million shares
outstanding.

About the company:
TCF is a Wayzata, Minnesota-based national financial holding
company with $11.9 billion in assets. TCF has 411 banking offices
in Minnesota, Illinois, Michigan, Wisconsin, Colorado and Indiana.
Other TCF affiliates provide leasing and equipment finance,
mortgage banking, brokerage, and investments and insurance sales.
(Source: Company Press Release)


==================
  Trading Ideas
==================

This section contains stocks that meet criteria which may make
them of interest to long and short side traders.  These are not
recommendations, nor have they been reviewed by PremierInvestor
editors for investment potential.  However, each of them has
technical and fundamental characteristics that make them worthy
of further review by traders and investors looking for fresh ideas.
New stocks will appear daily following the market close.

Value Plays With Bullish Signals
---------------------------------
Ticker  Company Name               Close     Change

AIG     American Intl Group        71.20     +0.61
CVX     ChevronTexaco              98.66     +2.18
XOM     ExxonMobil                 46.89     +0.64
CCU     Clear Channel Comm.        36.90     +0.59
TRP     TransCanada Pipelines      20.34     +0.58
ABK     Ambac Financial            71.92     +0.75

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

TEU     CP Ships Ltd               17.71     +1.02
CMLS    Cumulus Media              16.59     +1.41
OIS     Oil States Intl            17.46     +1.46

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

EOG     EOG Resources              64.89     +1.35
UPL     Ultra Petroleum            46.88     +1.95
PDS     Precision Drilling         51.95     +3.07
SFG     Stancorp Financial         71.94     +1.11
DADE    Dade Behring               52.16     +1.67
MNT     Mentor Corp                34.45     +3.10
ARLP    Alliance Resource Prtnr    50.65     +1.44

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

WFMI    Whole Foods Market         78.68     -2.11
DVA     Davita Inc                 27.52     -2.48
HNT     Healthnet Inc              23.52     -1.31
THO     Thor Industries            28.78     -2.21
UAG     United Auto Group          25.25     -2.19
MDCO    The Medicins Co            23.77     -1.80
UNFI    United Natural Foods       20.59     -1.81
PCLN    Priceline.com              20.29     -3.44
SHRP    Sharper Image              25.34     -1.33

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

VLCCF   Knightsbridge Tankers      30.00     -2.57
NPO     Enpro Industries           21.42     -3.62
IHP     IHOP Corp                  36.25     -0.42
XTEX    Crosstex Energy            27.90     -1.00


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