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Daily Newsletter, Sunday, 08/08/2004

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PremierInvestor.net Newsletter          Weekend Edition 08-08-2004
                                                    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:       Want to See Something Really Scary?
Market Sentiment:  New Lows
Watch List:        Biotech to Airlines and more!

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
        WE 8-06         WE 7-30         WE 7-23         WE 7-16
DOW     9815.33 -324.38 10139.7 +177.49 9962.22 -177.56 - 73.44
Nasdaq  1776.89 -110.47  1887.4 + 38.27 1849.09 - 34.06 - 63.18
S&P-100  521.83 - 15.84  537.67 +  7.29  530.38 -  5.52 -  6.73
S&P-500 1063.97 - 37.75 1101.72 + 15.52 1086.20 - 15.20 - 11.41
W5000  10307.84 -393.81 10701.7 +147.83 10553.8 -178.04 -110.82
SOX      386.88 - 29.55  416.43 + 10.85  405.58 -  4.88 - 40.68
RUT      519.65 - 31.64  551.29 + 12.07  539.22 - 16.26 -  8.25
TRAN    2966.08 -145.61 3111.69 + 68.25 3043.44 - 44.89 +  0.36
WE = week ending
=================================================================

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

Want to See Something Really Scary?
by Jim Brown

That title may be a famous line from the Twilight Zone
movie but you only need to take a look at the index
changes for the week in the table above for a real
nightmare on Wall Street. The Nasdaq lost nearly -5%
for the week and all the indexes are at their lows for
the year. While most analysts would be blaming the Jobs
disaster there was far more impacting the markets and
the road ahead could be even worse.

Dow Chart – Weekly


Nasdaq Chart – Weekly


SPX Chart – Weekly



Let's get the worst out of the way first. The July Jobs
report was not just below estimates but a disaster. At
only +32,000 jobs about the only thing worse would have
been a job loss instead of a job gain. With consensus
estimates at +220,000 and whisper numbers as high as
+300K the minor +32,000 gain was a disaster. If you
factor in the downward revisions to May and June we
actually lost jobs with this report. The May number
was revised down from +235K to +208K for a loss of
-27K. The June report was revised down from +112K to
+78K for a reduction of -44K. Let's see, using the new
math a drop in previously reported gains of -71K and
a gain in July of only +32K leaves us with a net change
of -39K when analysts were expecting +220K. OOPS!

Twelve Month Jobs Table



There was a lot of talk about the falling unemployment
rate to 5.5% from 5.6% but the key there was a drop in
the overall workforce more than an increase in employment.
The services sector was the weakest link in the report
with financial services, retail trade, leisure and
hospitality, information and social services all
showing losses. Another factor was a loss due to
seasonal adjustments. Many of the government reports
have fudge factors for various months to smooth out
normal volatility. In July the seasonal adjustments
knocked real job growth (raw data) down from +222,000
to only +32,000. In reality many more jobs were created
but the raw data is not used as a yardstick due to years
of historical seasonal adjustment precedent. Live by the
adjustment, die by the adjustment. This was slowest
rate of jobs growth in eight months.

The Housing Survey showed jobs increased by +629,000
jobs and was a serious divergence from the Payroll Survey
quoted above. Unfortunately 577,000 of those jobs were
only part time and weighted toward those with lower
education. Highly educated workers have been having a
harder time finding employment all year.

If you were Alan Greenspan today you were probably
reaching for the Maalox. With the Fed scheduled to
raise rates on Tuesday the Jobs report was a bitter
pill to swallow. When the Fed embarked on its current
"measured pace" of rate hikes the economy was thought
to be charging down the road to recovery and the rate
hikes were needed to curb potential inflation and
return the benchmark rate to a normal level. With the
recent economic reports mixed and with many trending
down the Fed may want to take its foot off the brake
but can't due to the current policy. The Fed would
have a hard time not raising rates on Tuesday because
it would bring up questions of "what do they know we
don't" and fears that the economy is worse than it
appears. That means the Fed will have to "rescue" the
market from itself with a positive statement after the
meeting. Former Fed Governor Wayne Angel disagreed
with the consensus the Fed was locked into a hike
cycle and suggested Greenspan could surprise investors
next week.

The chances of a rate hike next week have declined
from 100% according to the futures to about 80%. The
chance for a September hike declined to about 12% at
the open but returned to 30% by the close. Still far
from a lock. The analysts are still expecting the
Fed to stick to its measured pace of hikes but the
target for December is now only 1.75% instead of 2.0%.
Currently the rate is 1.25%.

Bonds soared on the negative Jobs news with yield
on the ten year falling to 4.21% and a four month low.
Home builders will be overjoyed as low rate mortgages
become yet another sales tool for the rest of the
summer.

Ten-Year Yield Chart




The Jobs number was only slightly more important than
the new high in oil at $44.65 but news from Russia put
pressure on late in the day. The Yukos story continues
to flip flop back and forth and today was a win for
Yukos. The company won a court battle and lived to
fight another day. Oil closed at $43.94 but the
uptrend is still alive.

The uptrend in oil is the only uptrend still alive.
The Dow closed at 9815 and a level not seen since Nov
2003. This was the low for the year and a significant
breakdown. The -324 (-3%) loss for the week was minor
compared to the hit in the Nasdaq. The Nasdaq closed
at 1776 and lost -110 points, -5.8% for the week.
Considering we actually traded up on Mon/Tue it shows
how negative the last two days have been. The Nasdaq
is -10% YTD and the SOX is down -30% YTD. The bears
have come out to growl and the bulls are running
scared.

The Dow broke under 9800, a level most would not have
believed possible only a few weeks ago. By breaking
the May lows the index has now setup a retest of 9500
and a -38% retracement of the rally from the Mar-2003
low. This would have been an unheard of retracement
back June but times have changed. I preached about
the coming summer event risk for the last three months
until I felt everyone was tired of hearing it. Well
boys and girls it is here to liven up our August.

The Jobs report is smoke. Yes, it was bad relative to
the prior six months results but it was still positive.
The economy is still growing as evidenced by the various
economic reports just slower than hoped. This is a
normal summer slump aggravated by the terror event risk.
Companies are doing exactly what they did before the
war. They are holding off on purchases and hiring
until the risk of a major attack passes. Add in the
election uncertainty and you get a market with no
buyers. Those investors who were considering remaining
long and toughing it out are then shaken out of their
convictions by things like the Jobs numbers.

Those convictions were definitely shaken today. Not
only did the Dow drop to new lows and the Nasdaq
break the 1800 support line but the SPX completely
lost the 1070-1080 numbers I wrote about Thursday
night. SPX 1080 was the 200 week moving average and
1068-1070 was a double Fib retracement level. All of
this support should have held better than it did. The
1070 level did hold until 2:PM but finally caved in
at the close. Volume increased and internals crumbled
once that level failed.

SOX Chart – Weekly


Russell Chart – Weekly



This sets up a serious situation for Monday. We can
hope for an opening rebound back above the 1070 level
to calm those itchy trigger fingers but without a
major change in sentiment it could be only a temporary
reprieve. We can hope for a rebound into the FOMC
meeting on the chance they will not hike rates again
but the odds of that happening are still slim. Even
if the Fed did not hike it will not provide a lasting
bounce. It just removes one minor reason for concern
and adds another level of economic uncertainty.

The challenge in our future is not the Olympics. With
a million people coming to town it should not be hard
to sneak in a dozen or so. However bad and unfortunate
an attack would be, unless they found a nuke or were
successful in some kind of biological spread, this is
not going to be an earthshaking risk for the U.S.
However, people are seeing it as a strong negative
and electing to move to the sidelines. I do not think
the risk is worth the selling but it is not my money.
The real risk is the week following the Olympics
when the Republicans come to New York. If NYC goes
to the same security lengths as Boston did then the
convention should be safe. Again, it is not the event
itself but the perception of the risk.

Al Qaeda is not going to attack where we expect them
to attack and that is the real problem. I have little
doubt they will try to disrupt the election because
they proved they could do it in Spain. That means
sometime in the next 90 days we will wake up to a
surprise and this is what the market fears not the
loss of jobs.

Traders seem to need an excuse to push themselves off
dead center and there are plenty of excuses appearing
on a daily basis. What these events have done is push
stocks back down to where real value has begun to
appear and those funds sitting on cash have got to
be drooling about the opportunities ahead. The PE
on the S&P has declined to only 16 times expected
2005 earnings after an earnings cycle that exceeded
all expectations. Yes, I know there was much more
inline guidance and a few more earnings misses but
overall earnings were well over +20%.

Experienced investors understand that historically
August is not kind to investors. Over the last 15 years
August has been the worst month of the year for the
Dow and S&P and the second worst month for the Nasdaq.
It appears that despite the event risk, soaring oil
and weak economics we are right in line with the
historical trend. The key is not why the markets
are dropping but what are you going to do about it
and more importantly when?

Based on the commentary above I would say our buying
opportunity is not over. I see no reason to rush into
stocks regardless of how low priced they seem. The
normal summer weakness tends to climax with a sharp
drop in September and October. Considering the NYC
convention ends on Thursday Sept-2nd and Labor Day
is Monday Sept-6th I would want to have all my ducks
lined up by Sept-7th. The seven weeks between Labor
Day and the election should be considered bargain
days in the market. I would begin taking small
positions with an eye on the market direction. We
know that historically the markets tend to react
strongly once the election is over and with literally
hundreds of billions waiting in cash on the sidelines
the last two months of 2004 could be very strong. Of
course that assumes there is no earthshaking terror
event on U.S. soil before the election concludes.

That leaves us in window-shopping mode for the next
three weeks. We will see more selling and some short
term rallies but I would be surprised to see any
rebound stick. When the markets go directional as
they did this week they tend to do everything to
excess. This means there are probably lower lows
ahead and I would not discount the potential for
the Dow to test 9500. Nasdaq 1703 is a 50% retracement
of the March-2003 low to the Jan-2004 high. I would
think that is a safe bet given the current sentiment.
1600 is actually stronger support as a confluence of
the Oct/Mar Fib levels but it would take a real washout
to see that level again. However the timing would
correspond to the next major target on the SPX of the
50% retracement level at 965. The 965 level has been
targeted by hard core bears for months and I am
beginning to see that as a possibility. Slim but
still a possibility.

Since the market exists to confound the most traders
and all analysts those numbers are far from set in
stone. As I sit here and look at the SPX chart I find
it hard to believe 965 is a target but my bias is
clouding my vision. Meanwhile the increase in volatility
is providing great trading opportunities. The back to
back triple digit moves on the Dow and the -5% Nasdaq
drop for the week gave everyone something to trade. I
don't know if I could stand that much volatility for
the next three weeks but I will definitely try. More
than likely we will find a range before next Friday
to wait out the Olympics on minimal volume. Once we
hit that range I would spend more time researching
stocks/LEAPs you want to add to your long term portfolio
than worrying about the day to day changes in the market.
If you are not a trader the next three weeks should be
ignored. If you are a trader then cinch up that seatbelt
and join the party.

Enter Very Passively, Exit Very Aggressively!

Jim Brown


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

New Lows
- J. Brown

Bearish, fearful, concerned, confused, and weary are just some of
the choices one could use to describe investor sentiment.  Now
that the major indices and a good number of sector-specific
indices are hitting new lows for the year it's hard to find
anything to be bullish about.  Even oil stocks, which have been a
pillar of strength in this market, have seen some sharp selling
in spite of crude oil all-time highs.

This column has mentioned the impact of crude oil on the markets,
the economy and the consumer before and nothing has changed.  The
high price of crude remains a significant threat to our economic
recovery.  There does seem to be a split in the analyst
community.  Some believe crude will fall back towards $35 a
barrel by the U.S. November elections compared to the other side
who believe crude will hit $50.00.  Of course we could see both.
It would not surprise me to see crude soar to $50 on some sort of
news and or terrorist event to then only fall back in a massive
bout of profit taking (maybe I'm just being optimistic on the
sell-off).  If this dance between the Kremlin and Russian oil
producer Yukos would end we'd probably see oil ease a bit.

Believe it or not the jobs picture managed to overshadow crude
oil's grip on the markets this past Friday but not in a good way.
I won't go into details since this weekend's market wrap covers
the job report more in depth but needless to say the 200,000 miss
is a big one.  If you consider the revisions to the previous
reports we actually lost jobs in July.  This not only raises huge
doubts on the strength of the economy but it throws the upcoming
presidential election into more turmoil, if that was possible.

Market internals are certainly painting a bearish picture.
They've been pretty negative for the last two sessions.  Friday
saw declining stocks outnumber advancers by more than 2-to-1 on
the NYSE and almost 4-to-1 on the NASDAQ.  Down volume was about
5-to-1 over up volume on the NYSE and more than 8-to-1 on the
NASDAQ.

Volatility indices, which were traditional gauges of investor
sentiment, are rising fast.  They are all near bullish reversal
levels but they have not yet hit their highs seen in May.
Unfortunately, interpreting the VIX/VXO/VXN is more art that
science.  I can't say that if the VIX/VXO hit 21-22 the markets
will immediately rebound. These volatility indices could always
go higher but no one really expects them to rise to the levels
they saw in 2001-2002.  What I can say that the higher these
indices rise the higher the odds are that we're near a short-term
bottom.  This makes it somewhat dangerous to consider new bearish
positions even through everything appears to be breaking down.

Next week will be driven by concerns over economic data, mainly
the FOMC meeting and expected rate hike on Tuesday and the host
of reports out Thursday and Friday.  As we approach the end of
the week and the beginning of the Olympics we could see investors
move to the sidelines over fears of a terrorist event in Athens
sending stocks lower worldwide.  This could easily muffle any
sort of oversold bounce if one does decide to show up.

Trade carefully and watch your stops.


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

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  8997
Current     :  9815

Moving Averages:
(Simple)

 10-dma: 10045
 50-dma: 10193
200-dma: 10226


S&P 500 ($SPX)

52-week High: 1163
52-week Low :  960
Current     : 1063

Moving Averages:
(Simple)

 10-dma: 1092
 50-dma: 1108
200-dma: 1108


Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1204
Current     : 1315

Moving Averages:
(Simple)

 10-dma: 1377
 50-dma: 1420
200-dma: 1446


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

CBOE Market Volatility Index (VIX) = 19.34 +1.02
CBOE Mkt Volatility old VIX  (VXO) = 20.23 +2.11
Nasdaq Volatility Index (VXN)      = 27.45 +1.26


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

          Put/Call Ratio  Call Volume   Put Volume

Total          1.38        753,807     1,042,286
Equity Only    1.28        535,745       683,184
OEX            0.78         54,529        42,303
QQQ            3.88         72,091       279,918


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

Bullish Percent Data

           Current   Change   Status
NYSE          55.1    - 2     Bear Confirmed
NASDAQ-100    28.0    - 5     Bear Confirmed
Dow Indust.   53.3    + 0     Bear Confirmed
S&P 500       49.0    - 3     Bear Confirmed
S&P 100       50.0    - 4     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: 1.91
10-dma: 1.44
21-dma: 1.37
55-dma: 1.22


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     933       640
Decliners    1902      2387

New Highs      22        14
New Lows      107       240

Up Volume    277M      175M
Down Vol.   1493M     1490M

Total Vol.  1782M     1672M
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

Commercial traders haven't made any big bets but the data
we're looking at doesn't reflect the big sell-off in the last
two days.  Small traders remain bullish as of this report.

Commercials   Long      Short      Net     % Of OI
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%)
08/03/04      401,619   419,429   (17,810)   (2.2%)

Most bearish reading of the year: (111,956) -  3/06/02
Most bullish reading of the year:   23,977  - 12/09/03

Small Traders Long      Short      Net     % of OI
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%
08/03/04      128,510    88,833    39,677    18.3%

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

Not much movement in the e-minis from commercial traders.  Small
traders have turned a bit more bullish, but again this is before
the big sell-off.


Commercials   Long      Short      Net     % Of OI
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%)
08/03/04      340,053   428,736   ( 88,683)  (11.5%)

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
07/13/04      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%
08/03/04      195,105     68,717   126,388    47.9%

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 have reversed their previous gain by
paring their longs and adding to their shorts.  Meanwhile
small traders have turned bearish again.

Commercials   Long      Short      Net     % of OI
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%
08/03/04       42,771     36,863     5,908    7.4%

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
07/13/04        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%
08/03/04        8,995    13,901    (4,906)  (21.4%)

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

Commercials seem to be taking some money off the table as
their bullish stances seems to waver a bit here.  Small traders
pared back their longs and their shorts but remained net
bearish.

Commercials   Long      Short      Net     % of OI
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%
08/03/04       30,118    25,029    5,089       9.2%

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
07/13/04        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%)
08/03/04        4,325     5,212   (  887)   ( 9.3%)

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

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


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

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

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

Biotech to Airlines and more!

Affymetrix - AFFX - close: 25.22 change: -1.04

WHAT TO WATCH: We came extremely close to adding AFFX to our high
risk/reward play list as a short.  The breakdown under support at
$26.00 looks significant (although we wish volume was stronger on
the decline).  The bearish P&F chart points to a $15.00 target
but is currently testing P&F support near $25.00.  The weekly
chart shows how AFFX has broken its major trendline of support
(higher lows) but the $25 level concerns us.  Aggressive traders
may want to initiate plays now.  We'll reconsider if it breaks
the $25.00 mark.




---

Sanofi-Synthelab - SNY - close: 33.69 change: +0.28.

WHAT TO WATCH: Looking for a bullish play?  This French drug-
maker has been bucking the trend the last few days and is near
four-month old resistance at $34.00.  Readers can watch it for a
bullish breakout and target a run toward $37-38.  The bullish P&F
chart actually points to a $54 target.




---

Northwest Airlines - NWAC - close: 7.82 change: -0.50

WHAT TO WATCH: Uh-oh!  NWAC is breaking down under support at
$8.00 to hit new one-year lows.  The rising price of crude oil is
a major drain on profits for the sector and the whole group is
suffering.  We'd watch NWAC for a breakdown under $7.50 and
target a drop toward $5.00.  More aggressive traders could jump
the gun and short NWAC now.  Its bearish P&F chart points to a
$5.50 target.




---

Red Hat - RHAT - close: 15.30 change: -1.29

WHAT TO WATCH: Ouch! RHAT lost more than 7.75% on Friday's
decline.  Technicals are bearish with its MACD about to produce a
new "sell" signal.  There does seem to be some minor support near
$15.00 but we wouldn't expect it to hold.  The software sector is
very oversold and some professionals on Wall Street are expecting
a rebound soon.  Should it fail to appear then software stocks
could get even uglier.  RHAT's P&F chart currently points to a
$10.00 target but managed to bounce from $14 near its P&F support
a couple of weeks ago.  We would watch RHAT for a breakout either
direction but we suspect the prevailing trend (bearish) will
prevail.




---

Cost Plus - CPWM - close: 29.70 change: -0.71

WHAT TO WATCH: This is it!  On Thursday we listed CPWM on the
watch list for a breakdown below the bottom of its trading range.
On Friday shares fell more than 2.3% and closed under $30.00 for
the first time since April 2003.  Its MACD has produced a new
"sell" signal.  It is interesting to note that CPWM closed right
at its intraday low from Thursday (29.70).  Therefore we'd
suggest a trigger under Friday's low at $29.66 to initiate
bearish positions with a $25 target.





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

CIR $17.40 -0.36 - The action in CIR looks ready to breakdown to
new lows.  Readers might want to consider bearish positions on a
drop below $17.25 with a $15.00 target.

NVLS $24.90 -0.78 - This is it!  We've been waiting for a
breakdown under support at the $25.00 level.  This looks like an
entry point.


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DISCLAIMER
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This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************

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





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


Active Trader (Non-tech)
  New Bearish Plays:     OSI
  Bullish Play Updates:  NXL, DLTR


High Risk/Reward
  Bearish Play Updates:  ENDP


Stock Splits
  Announcements:         CHD, POOL


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

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

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

RSA Security - RSAS - close: 17.12 chg: -0.84 stop: 16.50

This past week has been very rough for tech stocks but RSAS
actually weathered the storm pretty well until Friday.  The 2.45
percent drop in the NASDAQ and similar drop on the GSO software
index lead RSAS to slide 4.6 percent.  Friday's decline looks
very bearish and technicals are all pointing lower for RSAS.
Given the current market environment we would not suggest new
bullish positions and readers may want to exit and keep their
losses to a minimum.  We're choosing to hold on for various
reasons.  First SoundView came out on Thursday and stated the
obvious - that the software sector was very oversold but they did
add that they were looking for a significant rebound soon.
Secondly, RSAS still has technical support at the simple and
exponential 200-dma's, which are both at $16.59.  RSAS could dip
to this level and bounce.  Third, RSAS' P&F chart support remains
unbroken.  This is an aggressive move to hold on to this long
play given the bearish turn around so make sure that you're
comfortable with the risks involved.

Annotated Chart:



Picked on August 01 at $18.61
Gain since picked:     - 1.49
Earnings Date        07/22/04 (confirmed)
Average Daily Volume:     988 thousand




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

C-COR.net - CCBL - close: 7.35 chg: -0.57 stop: 8.26 *new*

Finally, we're starting to see some new weakness in CCBL.  It
takes a major meltdown in the markets to do it but shares of CCBL
are hitting new lows.  The close under the $7.50 level is very
bearish and Friday saw an intraday rally fail near this level.
It is not too late to consider bearish entry points as we target
a drop toward $6.00.  We are going to lower our stop loss to
$8.26.  The P&F chart remains unchanged with its $4.00 target.
FYI: it's okay if you're a cautious trader who wants to take some
money off the table with Friday's 7.19 percent drop.

Annotated Chart:




Picked on July 23 at $ 7.95
Gain since picked:   - 0.60
Earnings Date      08/19/04 (confirmed)
Average Daily Volume:    621 thousand



---

Comtech Telcom - CMTL - close: 17.04 change: -0.78 stop: 18.75*new*

CMTL has rolled over under resistance at the $20.00 level and is
now hitting new two-month lows under $17.50.  Short-term traders
may want to take some money off the table now that CMTL is down
more than 10 percent from our entry point.  We are going to lower
our stop loss to $18.75.  Remember that we're targeting a drop
toward the $16-15 range.  Readers might want to try momentum
entries but we don't suggest it.  A failed rally under $18.00
could work as a new entry point.

Annotated chart:



Picked on July 21 at $19.20
Gain since picked:   - 2.16
Earnings Date      06/08/04 (confirmed)
Average Daily Volume:   400 thousand



---

Natl. Instrument Corp - NATI - cls: 26.00 chg: -1.06 stop: 28.25*new*

Our NATI play is working out perfectly.  The string of lower
highs and lower lows is picking up speed.  Actually so much so
that NATI is starting to look oversold again.  Technicals are
certainly bearish.  NATI is only $1.00 away from our initial
target at $25.00.  This is a tough spot to consider new plays.  A
failed rally under $27.00 might work as an entry point.  We're
going to lower our stop loss to $28.25.  The high volume drop on
Friday is certainly ominous and shares could surpass our target.

Annotated Chart:



Picked on August 04 at $27.83
Gain since picked:     - 1.83
Earnings Date        07/27/04 (confirmed)
Average Daily Volume:     309 thousand




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


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

Fairchild Semi. - FCS - close: 13.55 chg: -0.61 stop: 13.49

The SOX semiconductor index has continued to fall and is now back
under the 400 level.  Some targets being thrown around are 375 to
350 for the index.  It's hard for FCS to attempt a rebound with
the sector moving lower.  Shares of FCS never traded at or above
our trigger to go long so we are going to close the play un-
opened.

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




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

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

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

Outback Steakhouse - OSI - close: 39.29 chg: -0.61 stop: 41.01

Company Description:
The Outback Steakhouse, Inc. restaurant system operates 857
Outback Steakhouses, 159 Carrabba's Italian Grills, 46 Bonefish
Grills, 25 Fleming's Prime Steakhouse and Wine Bars, 18 Roy's,
five Cheeseburger in Paradise restaurants and two Lee Roy
Selmon's in 50 states and 21 countries internationally.
(source: company press release)

Why We Like It:
Shares of OSI are nearing new 9-month lows as investors fail to
react to positive July same-store sales numbers.  Back tracking a
bit readers may note the big spike down in mid-July.  That was
when OSI warned that Q2 earnings would not be so hot as it dealt
with higher produce and commodity prices and slower same-store
sales growth.  The announcement prompted a wave of downgrades for
OSI.  When OSI did report earnings a few days later shares again
traded down the next day. Rising concerns that the economy may be
slowing, combined with new economic data showing a slow down in
personal spending, added to lower discretionary income due to
higher gas prices all adds up to trouble for merchants like OSI.

Technically OSI is stuck in a four-month downtrend but for the
last two weeks it has been churning sideways between $39 and $41.
We suspect OSI will breakdown under the $39 level.  Its P&F chart
is already in a bearish sell signal with a $31 target.  We want
to use a TRIGGER at $38.99 to catch the breakout lower and target
a drop toward $34.00.  We'll start the play with a stop loss at
$41.01. We do need to be somewhat patient as OSI could encounter
support near $37.50.

Annotated Chart:



Picked on August 8th at $39.29
Gain since picked:      + 0.00
Earnings Date         07/22/04 (confirmed)
Average Daily Volume:      629 thousand




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

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

New Plan Excel Realty - NXL - close: 24.45 chg: -0.05 stop: 24.00

The upward trend in the REIT sector has succumbed to some profit
taking.  Shares of NXL first fell back toward the simple 200-dma on
Thursday.  There was a sharp rebound Friday morning back toward the
$25.00 level before fading again.  The close under $24.50 could be a
caution flag for traders.  Conservative traders might feel better
waiting for NXL to trade back above the $25.00 level again before
considering new bullish positions.  We still feel the group has
promise.  More aggressive types may want to consider a bounce back
above $24.50-24.75.

Annotated Chart:



Picked on August 04 at $25.06
Gain since picked:     - 0.61
Earnings Date        07/29/04 (confirmed)
Average Daily Volume:     395 thousand




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

Dollar Tree - DLTR - close: 23.76 chg: -0.79 stop: 26.51*new*

Look out below!  DLTR crashed lower on Thursday after being hit
by a one-two punch.  First the company reported disappointing
same-store sales that showed a small loss versus estimates for a
gain.  Second the less than expected personal spending data was
very bearish for the entire retail sector.  Volume was huge on
Thursday's drop and Friday's follow through sent it to new lows.
Remember that we're targeting a drop to the $22.00-20.00 range.
Aggressive traders could use momentum entries for new plays;
while an alternative entry would be a failed rally under $25.00.
We're going to lower our stop loss to $26.51.

Annotated Chart:



Picked on July 26 at $25.95
Gain since picked:   - 2.19
Earnings Date      08/25/04 (unconfirmed)
Average Daily Volume:   1.5 million




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

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

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




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





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

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

Endo Pharmaceuticals - ENDP - cls: 16.60 chg: -0.63 stop: 17.65*new*

ENDP continues to sink lower with Friday's 3.65 percent decline
sending it to new multi-month lows.  This week's main event was
on the 4th of August when ENDP announced a secondary offering at
$17.70.  Investors weren't happy to hear it and sent the stock
crashing on big volume.  We're going to lower our stop loss to
$17.65 since the bottom of the gap down should be new technical
resistance.  We will continue to target the $15.00 area but
readers may want to exit near $16.00.  Actually readers may want
to take some money off the table now that ENDP is down 15 percent
from our entry point.

Annotated Chart:



Picked on July 26 at $19.49
Gain since picked:   - 2.89
Earnings Date      07/14/04 (confirmed)
Average Daily Volume:   871 thousand




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

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

CHD announces 3-for-2 stock split and dividend increase

This morning before the opening bell Church & Dwight Co. Inc
(NYSE:CHD) announced a 3-for-2 stock split and a 6-cent dividend
to be paid on a post-split basis.  This equates to a 12.5%
increase in its dividend and marks CHD's 414th regular quarterly
dividend payment.

The split and the cash dividend is payable on September 1st, 2004
to shareholders on record as of August 16th.


About the company:
Church & Dwight Co., Inc. manufactures and markets a wide range of
personal care, household and specialty products, under the Arm &
Hammer brand name and other well-known trademarks.
(Source: Company Press Release)

---

POOL splashes up a 3-for-2 stock split

This morning before the opening bell SCP Pool Corp (NASDAQ:POOL)
announced that its Board of Directors had approved a 3-for-2 stock
split in the form of a 50% stock dividend.  The Board also
approved a cash dividend of 10 cents per share and an increase in
its stock buy back program, which would seem to contradict the
stock split.

The split will be paid on September 10th, 2004 to shareholders on
record as of August 23rd.  This marks their sixth 3:2 split since
going public in 1995.

The cash dividend of 10 cents will be paid on September 7th to
shareholders on record as of August 23rd.

The buyback program has been increased from $17.6 million to $50
million.

About the company:
Based on industry knowledge, SCP Pool Corporation believes it is
the largest wholesale distributor of swimming pool supplies and
related products. Currently, POOL operates 198 service centers in
North America and Europe, through which it distributes more than
91,000 national brand and private label products to roughly 48,000
customers. (Source: Company Press Release)


=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************

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






PremierInvestor.net Newsletter          Weekend Edition 08-08-2004
                                                    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 9h, 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 9h
==========================================

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

Symbol  Co               Date           Comment      EPS Est

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

ACF    AmeriCredit Corp.   Mon, Aug 09  After the Bell       0.34
ADRX   Andrx Corporation   Mon, Aug 09  -----N/A-----        0.33
ANPI   Angiotech Pharm     Mon, Aug 09  After the Bell      -0.10
BAB    British Airways     Mon, Aug 09  Before the Bell       N/A
CVC    Cablevision Systems Mon, Aug 09  Before the Bell     -0.40
DQE    Duquesne Light HldngMon, Aug 09  Before the Bell      0.26
FLA    FL East Coast Ind   Mon, Aug 09  Before the Bell      0.15
JHX    James Hardie Ind    Mon, Aug 09  After the Bell        N/A
GAS    Nicor Inc.          Mon, Aug 09  Before the Bell      0.19
ONXX   Onyx PharmaceuticalsMon, Aug 09  After the Bell      -0.31
PSUN   Pac Sunwear of Cali Mon, Aug 09  After the Bell       0.23
KPN    Royal Kpn N.V.      Mon, Aug 09  Before the Bell       N/A
SGY    Stone Energy        Mon, Aug 09  After the Bell       1.45
TOUS   Tech Olympic USA    Mon, Aug 09  After the Bell       0.49
PGR    The Progressive CorpMon, Aug 09  -----N/A-----         N/A
UCOMA  UnitedGlobalCom     Mon, Aug 09  -----N/A-----       -0.03
WSC    Wesco Financial     Mon, Aug 09  -----N/A-----         N/A


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

ANF    Abercrombie & Fitch Tue, Aug 10  After the Bell       0.41
ATO    Atmos Energy Corp   Tue, Aug 10  After the Bell       0.02
CHD    Church & Dwight Co. Tue, Aug 10  Before the Bell      0.44
CSCO   Cisco Systems       Tue, Aug 10  After the Bell       0.20
CCH    Coca-Cola Helnc BttlTue, Aug 10  Before the Bell      0.62
CSC    Comp Sciences Corp  Tue, Aug 10  After the Bell       0.57
DISH   EchoStar Comm Corp. Tue, Aug 10  Before the Bell      0.23
FOSL   Fossil, Inc.        Tue, Aug 10  Before the Bell      0.17
FS     Four Seasons Hotels Tue, Aug 10  Before the Bell      0.35
HSP    Hospira             Tue, Aug 10  Before the Bell      0.33
OSIP   OSI Pharmaceuticals Tue, Aug 10  After the Bell      -1.18
PRGO   Perrigo             Tue, Aug 10  Before the Bell      0.13
TEO    Telecom Argentina   Tue, Aug 10  After the Bell      -0.36
MAY    May Depart Stores CoTue, Aug 10  Before the Bell      0.35
DIS    Walt Disney         Tue, Aug 10  After the Bell       0.27


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

AAP    Advance Auto Parts  Wed, Aug 11  After the Bell      0.69
ABV    AmBev - Comp BebidasWed, Aug 11  -----N/A-----       0.28
ANN    AnnTaylor Stores    Wed, Aug 11  After the Bell      0.40
RMK    Aramark Corporation Wed, Aug 11  Before the Bell     0.34
AVT    Avnet               Wed, Aug 11  After the Bell      0.39
BSG    BISYS GROUP INC     Wed, Aug 11  -----N/A-----       0.17
EAT    Brinker Internatl   Wed, Aug 11  Before the Bell     0.71
BUH    Buhrmann NV         Wed, Aug 11  Before the Bell      N/A
CGT    CAE                 Wed, Aug 11  Before the Bell      N/A
RIO    Comp Vale Rio Doce  Wed, Aug 11  After the Bell      0.97
FD     Fed Depart Stores   Wed, Aug 11  Before the Bell     0.61
FOX    Fox Entertain Group Wed, Aug 11  After the Bell      0.29
MIM    MI DEVS INC         Wed, Aug 11  Before the Bell     0.48
NVO    Novo-Nordisk        Wed, Aug 11  Before the Bell      N/A
LQU    Quilmes Industrial  Wed, Aug 11  After the Bell      0.22
NWS    The News Corp Ltd   Wed, Aug 11  After the Bell       N/A


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

AEG    AEGON N.V.          Thu, Aug 12  -----N/A-----         N/A
A      Agilent TechnologiesThu, Aug 12  After the Bell       0.28
AEOS   Am Eagle Outfitters Thu, Aug 12  Before the Bell      0.36
ADI    Analog Devices Inc. Thu, Aug 12  After the Bell       0.45
BEAS   BEA Systems         Thu, Aug 12  -----N/A-----        0.07
CSB    Ciba Spec Chems HldgThu, Aug 12  Before the Bell      0.55
DELL   Dell, Inc.          Thu, Aug 12  After the Bell       0.31
DT     Deutsche Telekom    Thu, Aug 12  Before the Bell       N/A
DEX    Dex Media, Inc.     Thu, Aug 12  Before the Bell       N/A
EON    E.ON AG             Thu, Aug 12  Before the Bell       N/A
FMD    Frst Marblehead CorpThu, Aug 12  Before the Bell      0.68
KSS    Kohl's              Thu, Aug 12  After the Bell       0.43
0494.HK  Li & Fung Limited Thu, Aug 12  -----N/A-----         N/A
MTA    Matav               Thu, Aug 12  -----N/A-----         N/A
PBY    Pep Boys            Thu, Aug 12  Before the Bell      0.37
SPI    ScottishPower       Thu, Aug 12  -----N/A-----         N/A
TGT    Target Corporation  Thu, Aug 12  Before the Bell      0.47
TIF    Tiffany & Co.       Thu, Aug 12  Before the Bell      0.29
UBB    Unibanco            Thu, Aug 12  -----N/A-----        0.70
URBN   Urban Outfitters    Thu, Aug 12  Before the Bell      0.20
WMT    Wal-Mart Stores Inc.Thu, Aug 12  Before the Bell      0.60
WTW    Weight Watchers IntlThu, Aug 12  After the Bell       0.49


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

ERJ    Embraer-Empresa BrasFri, Aug 13  -----N/A-----        0.45
SCM    Swisscom AG         Fri, Aug 13  Before the Bell       N/A


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

Symbol  Co Name              Ratio    Payable     Executable




CAPX    Capital Crossing Bank     2:1      Aug   9th   Aug  10th
QCOM    Qualcomm Inc              2:1      Aug  13th   Aug  16th
RNT     Aaron Rents, Inc          3:2      Aug  16th   Aug  17th
WIRE    Encore Wire Corporation   3:2      Aug  16th   Aug  17th
BOCH     Bank of Commerce Holdings3:1      Aug  16th   Aug  17th
IMGC    Intermagnetics Gen Corp   3:2      Aug  17th   Aug  18th
POT     Potash Corp Saskatchewan  2:1      Aug  17th   Aug  18th
JOSB    JoS A. Bank Clothiers Inc 5:4      Aug  18th   Aug  19th
HTLD    Heartland Express         3:2      Aug  20th   Aug  23rd
TOX     MEDTOX Scientific, Inc    3:2      Aug  20th   Aug  23rd

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

The Q2 earnings season is starting to slow down this week.
Wall Street's focus will be on the Tuesday FOMC meeting and the
expected 1/4 point hike.  Thursday and Friday are very busy with
lots of economic data being released.  Friday's PPI report is
probably the big one to watch.

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

----------------
Monday, 08/09/04
----------------
Wholesale Inventories (DM) Jun  Forecast:    0.6%  Previous:     1.2%


-----------------
Tuesday, 08/10/04
-----------------
Productivity-Prel (BB)      Q2  Forecast:    2.0%  Previous:     3.8%
FOMC Meeting on monetary policy (DM)


-------------------
Wednesday, 08/11/04
-------------------
Treasury Budget (DM)       Jul  Forecast: -$60.0B  Previous:  -$54.2B


------------------
Thursday, 08/12/04
------------------
Initial Claims (BB)      08/07  Forecast:    340K  Previous:     336K
Business Inventories (BB)  Jun  Forecast:    0.5%  Previous:     0.4%
Export Prices ex-ag. (BB)  Jul  Forecast:     N/A  Previous:    -0.1%
Import Prices ex-oil (BB)  Jul  Forecast:     N/A  Previous:     0.0%
Retail Sales (BB)          Jul  Forecast:    1.1%  Previous:    -1.1%
Retail Sales ex-auto (BB)  Jul  Forecast:    0.4%  Previous:    -0.2%
FOMC minutes released.

----------------
Friday, 08/13/04
----------------
Trade Balance (BB)         Jun  Forecast: -$46.5B  Previous:  -$46.0B
PPI (BB)                   Jul  Forecast:    0.3%  Previous:    -0.3%
Core PPI (BB)              Jul  Forecast:    0.1%  Previous:     0.2%
Mich Sentiment-Prel. (DM)  Aug  Forecast:    98.0  Previous:     96.7


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

BCS     Barclays Plc (ADR)         37.42    +2.47
LYG     Lloyds TSB Group Plc       31.18    +0.64
FRE     Freddie Mac                65.04    +0.61
CAT     Caterpillar Inc            70.25    +0.63
PBR     Petroleo Braileiro SA      28.50    +0.84
ETR     Entergy Corp               58.88    +0.79


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

MCIP    MCI Inc                    15.99    +2.15
COVP    DOV Pharmaceutical Inc     15.40    +2.68


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

TS      Tenaris Sa                 40.10    +1.96
CME     Chicago Merc Exchange     129.88    +8.63
LFG     Landamerica Fncl Grp Inc   40.25    +1.29
LEND    Accredited Home Lenders    33.65    +1.13
RDEN    Elizabeth Arden Inc        20.49    +1.29


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

SPY     Standard & Poors Dep Rec  106.85    -1.55
SBUX    Starbucks Corporation      43.68    -1.61
MXIM    Maxim Integrated Prods     44.23    -2.35
DE      Deere & Co                 57.60    -2.25
STJ     St. Jude Medical Inc       63.49    -1.31


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

DD      Dupont E I Nemours & Co    41.55    -0.97
BA      Boeing Co                  48.33    -1.60
RTP     Rio Tinto Plc (ADR_       102.10    -1.31
GCI     Gannett Co Inc             80.86    -2.24
ADP     Automatic Data Processng   39.27    -1.39


=================================================================
To stop receiving this PremierInvestor.net Newsletter,
send email to Contact Support
=================================================================
DISCLAIMER
=================================================================

This newsletter is a publication dedicated to the education
of stock traders. The newsletter is an information service
only. The information provided herein is not to be construed
as an offer to buy or sell securities of any kind. The
newsletter picks are not to be considered a recommendation
of any stock but an information resource to aid the investor
in making an informed decision regarding trading in stocks. It
is possible at this or some subsequent date, the editors and
staff of PremierInvestor.net may own, buy or sell securities
presented. All investors should consult a qualified professional
before trading in any security. The information provided has
been obtained from sources deemed reliable but is not
guaranteed as to accuracy or completeness. PremierInvestor.net
staff makes every effort to provide timely information to its
subscribers but cannot guarantee specific delivery times due to
factors beyond our control.

Please read our disclaimer at:
http://www.optioninvestor.com/page/oin/aboutus/disclaimer.html

*****************************************************************
ADVERTISING INFORMATION

For more information on advertising in PremierInvestor.net
Newsletter, or any Premier Investor Network newsletter please
contact Contact Support.

*****************************************************************


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





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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