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Daily Newsletter, Wednesday, 08/04/2004

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PremierInvestor.net Newsletter                Wednesday 08-04-2004
                                                    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:  How Crude!
Watch List:   Doughnuts to Movies and more!

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 WRAP  (view in courier font for table alignment)
===============================================================
     08-04-2004            High     Low     Volume Advance/Decline
DJIA    10126.51 +  6.27 10162.42 10068.11 1.64 bln   1334/1464
NASDAQ   1855.06 -  4.36  1864.80  1842.20 1.64 bln   1350/1665
S&P 100   538.49 +  0.57   540.29   535.31   Totals   2684/3129
S&P 500  1098.63 -  1.06  1102.45  1092.44
RUS 2000  546.07 -  0.96   546.07   536.52
DJ TRANS 3119.47 -  1.07  3134.20  3083.84
VIX        16.21 +  0.18    16.65    15.82
VXO        15.55 +  0.34    16.41    15.17
VXN        25.05 -  0.03    25.65    24.63
Total Volume 3,594M
Total UpVol  1,534M
Total DnVol  2,020M
52wk Highs      89
52wk Lows      249
TRIN          1.31
PUT/CALL      0.92
===============================================================

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

How Crude!
Linda Piazza

Markets again waffled around near support Wednesday, refusing to
break out in either direction.  Daily candlestick charts show
many indices producing high-wave candles, candles with small
bodies but long upper and lower shadows.  They're indicative of
indecision.  Volume patterns echoed that indecision, at least on
the NYSE, with advancing and declining issues closely matched.
The Nasdaq saw more decliners than advancers by a 14:17 adv:dec
ratio.

An intraday chart of the OEX depicts the indecision.

Annotated 60-Minute Chart of the OEX:



Other indications of indecision appeared.  The SPX and Dow
pierced their 200-ema's and then bounced, ending the day between
their 200-ema's and 200-sma's.  The SOX pierced 400 and then
bounced, but ended the day between 400 support and 420
resistance.  The Nasdaq pierced 1850 and then bounced.  The BIX
approached its 72-ema, an average from which it's bounced seven
days out of the last 24 trading days, and bounced once again, but
couldn't close over 350, producing a high-wave doji for its day's
efforts.  The TRAN pierced its 30-dma and 3100 and bounced, but
couldn't drive over the descending trendline off the 7/01 high,
with the TRAN also producing a high-wave doji.

That indecision was all crude's fault.

Perhaps other factors played a part.  Futures succumbed to
downward pressure pre-market, and the cash markets followed
through on the opening.  Those pressures included the Nikkei
closing at a 10-week low, UBS lowering the rating of some
European chip stocks to a reduce rating, European banks reporting
lower trading revenue and warning of a difficult environment for
global financial markets, as well as September crude futures
spiking to a record $44.34 a barrel in after-hours trading
Tuesday night.

In addition, although earnings season has begun to wind down,
earnings reports or warnings still impacted markets.  Late
Tuesday, fiber-optic networking equipment manufacturer Ciena
(CIEN) warned that it would not meet revenue expectations.  The
company cited cautious spending habits by its largest customers
as one reason behind the warning.  JP Morgan downgraded the stock
to an underweight rating from its previous neutral rating.  The
stock plummeted in pre-market trading and opened $0.50 below
Tuesday's $2.76 close.  It closed down 24.64 percent, at $2.08.
The news hit Cisco (CSCO), Lucent (LU) and Nortel (NT), all also
opening lower, although only NT closed lower out of those three.
The XTC, the North American Telecoms Index, opened lower and
dropped toward its 200-sma as market watchers worried about those
cautious spending habits by CIEN's largest customers.  The XTC
closed lower by 0.57 percent.

In addition, Internet commerce and TV-shopping company
InterActiveCorp (IACI) guided analysts to expect 2004 operating
income at the low end of its former forecast.  Although earnings
beat expectations, the company faces increased competition from
hotel and airline web sites.  Travel revenue dropped quarter-
over-quarter for the first time.  IACI opened at $22.30, $4.73
below Tuesday's close, and closed at $22.80, down 15.65 percent.
IACI is a component stock of the Philadelphia Internet Index,
$DOT.  That index closed lower by 1.11 percent.

Shortly after the open, attention turned to July's non-
manufacturing ISM and June's factory orders numbers, both
released at 10:00, with markets coming off their lows just ahead
of the release.  June's non-manufacturing ISM had been 59.9 and
expectations for July's number had ranged from 61.5-63.00,
depending on the source.  The Institute for Supply Management
said that July's services index rose to 64.8, a higher-than-
expected result, but the employment component fell to 50 percent
from the previous 57.4 percent.  The ISM reported that
transportation, communication, wholesale trade, utilities and
business services saw the biggest gains.  With global attention
already focused on Friday's non-farm payroll report, the loss in
the employment component now has market watchers speculating that
Friday's much-awaited number won't meet the expectation for
payrolls to rise by 235,000.

May's factory orders had declined 0.3 percent, but June's were
expected to rise from 0.55-0.9 percent, also depending on the
source.  Factory orders increased 0.7 percent, a strong result
given that was in comparison to May's unexpected revision to a
0.4 percent climb rather than the previously reported loss.
However, economists greeted the number with some disappointment
since much of the gain was due to increased orders for defense
aircraft.  Markets dropped back to retest their lows.

The release of the crude oil, gasoline, and distillate
inventories shortly after 10:00 and shortly before 11:00 may have
produced the first real bounce of the day.  As is usual, the
Department of Energy and API industry group announced disparate
figures, with the Department of Energy showing crude stocks down
1.9 million barrels, distillates up 2.1 million barrels and gas
stocks up 2.4 million barrels; and the API showing crude
inventories up 800,000 barrels, distillate stocks down 60,000
barrels, and gas stocks rising by 3.5 million barrels.  While
it's difficult for an industry outsider to reconcile the figures,
both showed rising gasoline stocks in a seasonal pattern that
shifts inventories toward gasoline production as refineries ramp
up to meet increased demand in the summer.  The API announced
that September unleaded gas had dropped 3.2 percent.  Shortly
after the API released its results, crude futures for September
delivery eased off their high.  That first easing was to precede
the completion of a H&S and a plummet through the neckline,
almost all the way to the downside target.

Annotated Ten-Minute Chart of Crude Futures:



Markets needed some hope that crude futures would ease.  Tuesday,
OPEC admitted that over the short-term period, it did not have
the capacity to further increase production.  To try to stem the
ramping up of crude prices, Saudi Arabia's Saudi Aramco announced
early Wednesday that it was starting production ahead of schedule
on the offshore Abu Safah and predominantly onshore Qatif oil
fields.  The company also announced that it would consider
delaying the shutdown of older wells. Before this morning's
developments, crude futures looked as if they would soon reach
the fabled $50.00 level.  Many suggest, however, that markets
will remain pressured until crude prices pull back significantly.

Annotated Daily Chart of Crude Futures:



With markets trading in opposition to the cost of crude,
indecision as to market direction rules here, too.  Crude futures
spent about six weeks trying to break through resistance at
$42.00, so presumably that level or some of the other levels
marked on the daily chart might now provide support.  Yet in the
past, prices tended to retreat to the 50-dma, currently at
$39.78, to regroup before rising again, so there is perhaps
vulnerability down to at least that level.  A drop that deep
would allow indices time to rise or consolidate for several days.
A bounce at $42.00 or above would ratchet up the pressure again.

Whatever caused that 10:30 bounce, rumors of a bomb explosion in
Athens may have been a precipitating cause for a stumble in the
markets.  The bomb was a homemade one targeting an electrical
substation and caused no injuries, with the information soon
forgotten despite the approaching opening of Olympic games in
Greece.  Markets moved to their highs of the day and then
retreated again into the close, producing those high-wave
candles.  Let's take a look at some of the charts.

Inconclusive oscillator action revealed indecision on the SOX's
daily chart.

Annotated Daily Chart of the SOX:



A study of intraday charts (not shown) reveal bullish divergence
as Wednesday's higher low was hit, with oscillators hitting equal
lows while price hit that higher low.  It's possible that the
divergence predicted only the bounce that has occurred.  However,
I advise watching the potential inverse H&S.  The neckline of
that formation is difficult to determine, but may currently be at
about 417.  Cautious traders should wait for a move above 420 as
confirmation of that formation, and should be aware of the OEX's
inability so far to meet the upside target after confirming its
recent inverse H&S, as depicted in the first chart in this
article.  For now, the daily SOX chart does not give us much
information about likely direction, but instead indicates that
bulls began buying the SOX stocks as the SOX hit the bottom of
that channel and its P&F downside target.  Whether the dip-buyers
will be joined by others remains to be seen.  This was a
technical level at which to buy the SOX, and some did.  That's
about the only conclusion we can reach.

Oscillator evidence remains ambiguous on the Nasdaq, too.  Dip-
buyers also stepped in at the bottom of the descending regression
channel, but the climb couldn't be called precipitous.

Annotated Daily Chart of the Nasdaq:



The Russell 2000 also bounced from a higher low today, but also
couldn't manage to turn oscillators into a more bullish mode.

Annotated Daily Chart of the Russell 2000:



Although the 200-ema is not as closely watched as the 200-sma, it
may be playing a minor part in support/resistance on the Dow,
too.  That average helped keep the Dow hovering on the midline of
the descending regression channel on the daily chart.

Annotated Daily Chart of the Dow:



The Dow's oscillators look more bullish than those on other
indices.  At the day's low, the index was moving into the top of
May's congestion zone.  Declines might slow or find support
somewhere within that zone, so that it's possible that the Dow
might try to bounce from the midline of its regression channel.
If it does, it faces a river of moving averages at historical
resistance near 10,200-10,240.

The 200-ema may also have played a part in the SPX's trading
behavior Wednesday, with the SPX ending the day between the 200-
sma and -ema.  The SPX appears to be rounding over beneath the
200-sma, but may actually be moving up in a tight ascending
regression channel.  Until proven otherwise, however, such a
tight pattern of higher highs and higher lows should be viewed as
a possible bear flag when it forms after a steep decline.

Annotated Daily Chart of the SPX:



Not only do charts present doji or high-wave candles indicative
of indecision, but some P&F and bar charts conflict, and some
indices' charts slant to the slightly bearish while some slant to
the slightly bullish. After hours, equity futures dipped slightly
with Dow futures perhaps dipping slightly more than the others,
perhaps erasing some optimism that the Dow was outperforming
other indices and would perhaps lead them higher.

After-hours developments included disappointing earnings from
United Online (UNTD) and lowered revenue guidance from Wireless
Facilities (WFII), with both plummeting in after-hours trading.
WFII also said it would restate earnings from 2000-2003, blaming
foreign taxes for the need to do so.  WFII supplies services and
equipment for the wireless industry.  Biotech ICOS (ICOS) dropped
in after-hours trading after it announced a less-than-expected Q2
loss but also less-than-expected revenues.  Those results aren't
likely to help build optimism, but software company Aspen
Technologies (AZPN) beat expectations and was up over 20 percent
in after-hours trading.

Thurday's economic releases will be light.  At 8:30, the
Department of Labor releases the initial jobless claims number
for the week of 7/31.  Initial claims for the previous week had
bumped higher, to 345 thousand, but predictions for this week
suggest that claims might fall back to 340 thousand.  While these
numbers are sometimes watched closely, Friday's employment report
will probably draw most of the attention this week.

Natural gas inventories will also be released Thursday as will
the money supply figure, at 10:30 and 4:30, respectively.

Tomorrow's performance may be guided by jitters over Friday's
non-farm payrolls number, the SOX's ability or inability to
confirm its inverse H&S, the SPX's ability or inability to climb
above its 200-sma, the Dow's behavior near 10,000 or 10,200, and
the price action of crude futures. Crude futures traded lower in
after-hours, but approached the downside target of the H&S on the
10-minute chart and appeared to level off.

Unfortunately for those of us trying to guess market direction,
crude prices depend on geopolitical developments out of our
control or beyond our knowledge this evening.  A reassurance out
of Russia or from OPEC member could send futures lower.  A
terrorist strike against a pipeline somewhere could send them
higher.  I can imagine shorts waiting with held breath for a sign
that those futures will continue lower, ready with their trigger
fingers on the buy-to-cover buttons if they do not.

Extended losses in the crude futures may allow markets to steady
or even move higher, while a rebound in the crude futures will
pressure already-jittery markets.  Unless crude futures break
through their 50-dma, however, markets will remain under pressure
and gains may be tepid or quickly reversed.  The suspicion that
H&S's or bear flags may be building on some charts on some
intraday charts may be deepened. In that climate, perhaps only
adept scalpers should consider long positions until any breakout
has proven itself.

However, I would be careful about any position.  Indices appear
perched on the edge of precipice and some of those P&F downside
targets show just how deep such a precipice could be.  However,
we've been here before, convinced that markets were going to
tank, piling into short positions, only to find ourselves
squeezed along with the other shorts.  The charts I've displayed
above do not offer evidence that markets are yet being pushed
over the edge, although they do offer evidence of extreme
pressure and indecision about how to respond to that pressure.
The markets are at points that have been bought before, and
someone is trying to do some buying, but it may or may not stick.

The OEX, the index I watch most, is chopping along above weekly
support, and many others are chopping above known support, too.
In the Market Monitor on OIN, I'm advising subscribers to prepare
to be whipsawed if entering any position, have nearby profit
targets in mind, and make plans in advance of entering a position
to protect any profits, and that's what I advise here, too.  One
of these days, perhaps soon, markets will begin a directional
move, but expect those whipsaws until that happens.


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

Doughnuts to Movies and more!

Krispy Kreme - KKD - close: 14.48 change: -0.67

WHAT TO WATCH: It was a tough call not to add KKD to the play
list as a short this evening.  The stock dropped sharply on July
29th when it revealed it was the target of an "informal" SEC
inquiry.  Now after failing to rebound back above the $16.00
level shares have broken down through round-number support at
$15.00 on strong volume.  The stock's drop has exceeded its P&F
chart bearish target but that doesn't mean it can't keep falling.
Aggressive traders may want to use today's weakness as an entry
point and target a move toward the $12-11-10 region.




---

Netflix - NFLX - close: 17.53 change: -1.72

WHAT TO WATCH: NFLX was another stock we strongly considered
adding to the play list as an aggressive short play.  On July
26th NFLX tried to produce an oversold bounce from its trendline
of lower lows dating back to the low in late February.  That
oversold bounce couldn't get past the $20.75 level and now the
stock has hit a new relative low on high volume.  Furthermore
today's weakness has broken the trendline of lower lows.  The P&F
chart is very bearish and points virtually to $0.00.  More
aggressive traders can use today's drop as an entry point and
target a move to round-number support at $15.00 although $15.00
may not hold up.  Alternatively we can look for a potential
bounce/failed rally near $18.50.




---

Greater Bay Bancorp - GBBK - close: 25.50 change: -0.15

WHAT TO WATCH: GBBK has been trading in a $4.00 range between $26
and $30.00 since the middle of December 2003.  Now shares have
broken down through the bottom of this range and it looks like an
entry point to get short.  The P&F chart currently targets a drop
to the $21.00 level but this target could move lower.  Consider a
stop loss above resistance at $27.00.




---

United Online - UNTD - close: 13.85 change: -1.21

WHAT TO WATCH: UNTD lost more than 8 percent and broke down to
new one-year lows after reporting earnings that beat by a penny
but guided lower for the third quarter.  Now the stock looks
headed toward the $11.75-11.50 region, which happens to coincide
with its bearish P&F target.





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

ALO $12.43 -3.79 - Ouch!  ALO was on our weekend watch list as a
bearish candidate.  Today the stock dropped more than 23% to
$12.43 after management issued a disappointing outlook.

MLI $38.36 +0.79 - Patient traders might want to give MLI a
closer look.  The stock has been a steady climber recently and is
near new multi-year highs.

FBP $42.62 +1.02 - Readers might want to consider bullish plays
in FBP.  The stock is breaking out above the neckline of an
inverse H&S pattern that points to a $49-50 target.  Consider a
trigger above $43.00 or $43.50.


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

BCS     Barclays Plc (ADR)         35.08    +1.13
FNM     Fannie Mae                 71.46    +0.53
PRU     Prudential Financial Inc   46.36    +0.60
CNI     Canadian Natl Railway      45.75    +0.53
PNC     PNC Financial Svcs Grp     50.82    +0.65
ITU     Banco Itau S A (ADR)       47.16    +0.72


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

OI      Owens Illinois Inc         16.53    +1.07
PDLI    Protein Design Labs Inc    17.14    +1.82
NTRT    Netratings Incorporated    14.51    +1.71


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

TS      Tenaris Sa                 38.79    +1.97
RL      Polo Ralph Lauren Corp     34.56    +1.44
ACAS    American Capital Strat     30.08    +1.27
HCC     HCC Insurance Holdings     30.81    +1.11
CERN    Cerner Corp                 47.06    +1.45


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

NWS     News Corporation Ltd       32.80    -1.55
CSR     Credit Suisse Group        30.62    -1.67
IACI    IAC/Interactive Corp       22.80    -4.23
ECA     Encana Corporation         43.56    -1.29
CFC     Countrywide Financial      68.28    -3.27


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

PTR     Petrochina Co Ltd (ADS)    49.43    -0.77
IFIN    Investors Fin Svcs Cp      44.97    -0.84
PKZ     Petroazakhstan Inc         30.35    -1.55
JAH     Jarden Corp                34.06    -1.69


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





PremierInvestor.net Newsletter                Wednesday 08-04-2004
                                                    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
=================================================================

In section two:

Stop Loss Adjustments:  ENDP

Net Bulls (Tech Stocks)
  New Bearish Plays:    NATI

Active Trader (Non-tech Stocks)
  New Bullish plays:    NXL


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

ENDP - high risk/reward short -
  ENDP fell 8.6 percent on Wednesday fueled by more than four
times the average volume after the company announced a secondary
offering of 11 million shares at $17.70.  According to Reuters
most of the shares are being sold by ENDP's controlling
shareholder, management and employees.
  -- Some short-term traders may want to exit now with decent
profit.  Others may want to significantly tighten stops above
today's high ($17.50).  We're still targeting a move to the $15
level and will lower our stop loss from $20.06 to $18.75.


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

---------
New Plays
---------

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

Natl. Instrument Corp - NATI - cls: 27.83 chg: -0.47 stop: 29.07

Company Description:
National Instruments is a technology pioneer and leader in
virtual instrumentation -- a revolutionary concept that has
changed the way engineers and scientists approach measurement and
automation. Leveraging the PC and its related technologies,
virtual instrumentation increases productivity and lowers costs
through easy-to-integrate software, such as the NI LabVIEW
graphical development environment, and modular hardware, such as
PXI modules for data acquisition, instrument control and machine
vision. Headquartered in Austin, Texas, NI has more than 3,200
employees and direct operations in 40 countries. In 2003, the
company sold products to more than 25,000 companies in 90
countries. (source: company press release)

Why We Like It:
There wasn't much confidence in NATI ahead of its Q2 earnings
report and shares sank throughout the month of July like most of
the tech sector.  Then NATI reported earnings with revenues
soaring 27% to $127.1 million, which is a record.  Business is
certainly improving but NATI actually missed estimates by 2 cents
and then guided earnings under analysts' estimates for the third
quarter.  So why did shares soar so high on the news?  Who knows?
Maybe it was a short squeeze sparked by the record revenue
number.  Now NATI's oversold bounce is fading and volume was
above average on Wednesday's drop through the $28 level.  The
bearish turn in the short-term technical and NATI's short-term
overbought status makes this feel like a low-risk opportunity to
short the stock.

We're going to start the play with a stop loss at the recent
highs ($29.07).  Our initial target is the $25.00 region but more
aggressive traders might want to hold out for a drop to its P&F
target of $23.00 or its P&F support at $21.00.

Annotated Chart:



Picked on August 04 at $27.83
Gain since picked:     - 0.00
Earnings Date        07/27/04 (confirmed)
Average Daily Volume:     309 thousand




==================================================================
Active Trader (AT) Non-Tech Stock section
==================================================================

---------
New Plays
---------

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

New Plan Excel Realty - NXL - close: 25.06 chg: +0.43 stop: 24.00

Company Description:
New Plan Excel Realty Trust, Inc. is one of the nation's largest
real estate companies, focusing on the ownership and management
of community and neighborhood shopping centers. The Company
operates as a self-administered and self-managed REIT, with a
national portfolio of 401 properties, including 23 properties
held through joint ventures, and total assets of approximately
$3.7 billion. Its properties are strategically located across 34
states and include 375 community and neighborhood shopping
centers, primarily grocery or name-brand discount chain anchored,
with approximately 54.6 million square feet of gross leasable
area, and 26 related retail real estate assets, with
approximately 2.2 million square feet of gross leasable area.
(source: company press release)

Why We Like It:
We're adding NXL to the play list as a long due to its relative
strength and its technical breakout.  The entire REIT sector has
been out performing the broader markets the last couple of days.
We like NXL because shares have been rising on big volume.  Three
days ago the stock soared through price resistance at $24.50 and
technical resistance at its simple 200-dma on volume more than
2.5 times its average.  Yesterday NXL retest the 200-dma as
support and today is seeing some strong follow through - all on
big volume.  The clover over what could have been potential
round-number resistance at $25.00 is encouraging.

We're going to target a move to the $27.00-27.50 range over the
next four to six weeks. We'll start the play with a stop loss at
$24.00

Annotated Chart:



Picked on August 04 at $25.06
Gain since picked:     + 0.00
Earnings Date        07/29/04 (confirmed)
Average Daily Volume:     395 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) 2004  PremierInvestor.net. and
The Premier Investor Network.
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DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

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Littleton, CO 80163

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