PremierInvestor.net Newsletter Wednesday 08-11-2004 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: Out of Steam Watch List: Biotech to Chips to Banks 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) =============================================================== 08-11-2004 High Low Volume Advance/Decline DJIA 9938.32 - 6.35 9954.18 9841.36 1.71 bln 1114/1665 NASDAQ 1782.42 – 26.28 1786.65 1760.50 1.77 bln 1105/1901 S&P 100 526.54 - 2.23 528.77 522.39 Totals 2219/3566 S&P 500 1075.79 - 3.25 1079.04 1065.92 RUS 2000 526.63 - 3.20 529.83 517.89 DJ TRANS 3049.89 + 5.02 3074.94 3006.37 VIX 18.04 + 0.57 18.49 17.84 VXO 17.53 + 0.63 18.50 17.30 VXN 29.96 + 0.44 27.70 26.80 Total Volume 3,848M Total UpVol 972M Total DnVol 2,825M 52wk Highs 35 52wk Lows 433 TRIN 1.30 PUT/CALL 0.89 =============================================================== =========== Market Wrap =========== Out of Steam Linda Piazza A post-Fed-decision rally carried the Nikkei and some other Asian bourses to another day of gains, but then lost steam by the time European markets opened. U.S. futures turned down with cash markets following, but then the decline ran out of steam, too. Bears could not follow through on early declines, and either aggressive bulls or scared shorts pushed the indices higher again. By the day's end, the Dow had closed down only 6.35 points or 0.06 percent, and the SPX had closed down only 3.25 points or 0.30 percent. Even the Russell 2000 managed to hold onto all but 3.20 points, declining 0.60 percent. The Nasdaq did not fare so well, seeing a decline of 26.28 points or 1.45 percent. Volume patterns showed decliners ahead of advancers on both exchanges, with adv:dec ratios at 14:18 for the NYSE and 11:19 for the Nasdaq. Down volume was 1.8 times up volume on the NYSE and almost four times up volume on the Nasdaq. Total volume stood at 1.4 billion for the NYSE and 1.8 billion for the Nasdaq. Cisco's (CSCO) building inventories as well as sales warnings from National Semiconductor (NSM) and chip-related company Kulicke & Soffa (KLIC) proved at least partly responsible for early weakness, sending U.S. futures lower immediately after the close Tuesday. Futures failed to build steam when the Nikkei gained and then dropped with the European markets, predicting weakness at the U.S. open. By Wednesday morning, CSCO's Tuesday- night earnings report had garnered analyst attention from Merrill Lynch, UBS, Wachovia Securities and Goldman Sachs, with opinions mixed among the analysts. Merrill Lynch and UBS both downgraded CSCO to a neutral rating, but the other two made positive comments. Within the first five minutes of trading, the SOX dropped below the 50% retracement of its rally off the October 2002 low, also breaking down from its descending regression channel, ominous signs for those with hopes for a recovery in the sector. Annotated Daily Chart of the SOX: NSM and KLIC closed 14.14 and 25.07 percent lower, respectively, with other stocks in the semiconductor food chain also getting hit. Cypress Semiconductor (CY) fell 6.56 percent, with its decline attributed to NSM's. CY wasn't helped by a Smith Barney decision to cut its rating to a hold rating from its former buy rating, either. Teradyne (TER) closed 7.59 percent lower, with its tumble attributed both to KLIC and CSCO weakness. CSFB cut TER's rating to a neutral rating from its previous outperform one. Yesterday's attempt at a morning-star reversal signal on the SOX was less convincing than the signals produced by some other indices, raising a red flag that I mentioned Tuesday on OIN's Market Monitor. The SOX could not retrace more than 50 percent of Friday's decline while most other indices producing morning- star patterns retraced most or all of Friday's gains. Wednesday morning, the SOX's relative weakness became apparent when the SOX fell below recent lows and also dropped beneath the 50 percent retracement of the rally off the October 2002 low. That retracement level usually provides strong support when first tested even if it's eventually violated, but the SOX spent only three days steadying at that level before tumbling through it. That's an ominous sign unless it's quickly reversed, but investors showed no temptation Wednesday to buy the dip. The NWX, the Networking Index, showed the effect of the CSCO report, reversing lower after printing a morning-star pattern of its own. CSCO closed lower by 10.55 percent. Wednesday continued the Pacific Crest Technology Forum that opened on Monday, and began the CIBC Enterprise Software and Soundview Semiconductor Conferences, but instead of the tech pop that used to be produced by tech conferences, these and other tech-related indices declined. Other sectors or indices faring badly included the Disk Drive Index and the XAU, the gold and silver index, down 1.80 percent. Sectors closing higher included the airlines and defensive sectors such as the pharmaceuticals and health care providers. Surprisingly on a day when crude futures closed slightly higher, so did the TRAN, up 0.16 percent. Annotated Daily Chart of the TRAN: That high-wave doji can be a reversal signal, too, but it's always a visual representation of the indecision felt by market participants. Both bulls and bears ran out of steam on this index today, as they did in other markets. The story behind the TRAN's high-wave doji proved an interesting one. Each week, Wednesday's reports on crude oil, distillate, and gasoline inventories assume more importance, but Wednesday, the figures slipped by almost unnoticed. Other crude-related developments grabbed the attention. Early in the morning, market watchers learned that Russian oil producer Yukos was officially in default on $1.6 billion in debt, having received a default notice from a lender. The president of Russia's federal energy agency did nothing to reassure jittery markets when he stated that Yukos' production could be halted if the company could not pay for equipment and operations. He further commented that such an event would be detrimental to Russia's economic health, with Russian energy officials asking that the company be allowed access to frozen bank accounts. Soon after or perhaps at about the same time, Saudi Arabia revealed that it would have an important announcement about oil production. That announcement, when it came, included the assurance that Saudi Arabia could immediately raise oil output by 1.3 million barrels per day, with the intention of curbing prices. Crude prices had plummeted at the time that Saudi Arabia stated that it would make an announcement, with most market watchers correctly assuming that Saudi Arabia would make an announcement meant to calm worries and dampen crude prices. Crude futures dropped despite the almost-not-noticed Department of Energy release of figures showing that crude stocks were down 4.3 million barrels from the previous week and an API release showing that crude stocks were down 5.2 million barrels. Analysts had expected a rise in crude inventories, and the surprise decline was not good news. The Energy Department also announced that distillate stocks were up 1.3 million barrels, and gasoline stocks were down 1.8 million barrels. API reported distillate stocks higher by 3.1 million barrels, and gasoline stocks down by 2.4 million barrels. The International Energy Agency, the IEA, also increased its forecast for 2004's demand for crude by 700,000 barrels. The IEA also mentioned the less-than-desired capacity in infrastructure and production, but felt that those lacks did not justify the current crude prices, prices that were causing economic damage. Borrowing a phrase from Greenspan, the IEA called the $45.00/barrel price "irrational exuberance." Later in the day, others derided the IEA's statement about irrational exuberance, claiming that the IEA routinely underestimated demand. That underestimation might even have led OPEC to cut production earlier in the year, leading to the current pricing problems, one commentator claimed. Whether or not the IEA is right about the $45.00/barrel price being too high, the forecasted increased demand, coupled with the inventory surprise and Yukos news, might have sent crude prices soaring, but the Saudi announcement undercut that reaction, at least for a time. Crude prices closed minimally higher than Tuesday's close, but did not reach above Tuesday's intraday high. Another report barely noticed except by those privy to Jim Brown's comments in OIN's Market Monitor was the Job Opening Labor Turnover Survey, released at 10:00. Data included in that survey showed that June's growth in employment was still showing improvement, but improvement at a slower rate than previously. Job openings fell, but more workers were hired than separated from their jobs, which would include workers who were quit or retired, or who were fired or laid off. At 2:00, July's Monthly Budget Statement was released, with June's having been a $54.2 billion deficit and July's showing a whopping $69.2 billion deficit. The year-to-date budget deficit stands at $395.8 billion. Expectations had been for a $66 billion figure for July. Perhaps because the surprise was attributed to greater outlays than expected and that was attributed to calendar distortions, no ill effect occurred. Many markets began the late-afternoon climb immediately afterward during the program-trading window. That bounce helped improve the Nasdaq's outlook. While the SOX and NWX reversed just-produced morning-star reversal signals, the Nasdaq bounced after breaking down intraday. Annotated Daily Chart of the Nasdaq: The Nasdaq has already broken below its descending regression channel, gapping down as it did so. It produced a not-so-classic morning-star reversal signal, but as sometimes happens in down- trending markets, the only reversal was the candle needed to produce the reversal signal. Wednesday, the Nasdaq opened near the bottom of the recent range, broke below that range, but tested the 38.2 percent retracement of the rally off the October 2002 low when it did so. It bounced, closing back within that range. The SOX's example suggests that the Nasdaq could also eventually break below this important retracement level, with the SOX already below the 50 percent retracement, but if the SOX manages a bounce to retest broken support, the Nasdaq could bounce, too. If the trend is down, it's best to assume that it will remain down, so the assumption now is that any bounce would roll over at resistance, with that Nasdaq resistance now from 1806-1820, the gap from Friday and the bottom of the former descending regression channel. If the Nasdaq's chart displays some ambiguity, so do the charts of the SPX, Dow, and Russell 2000. Annotated Daily Chart of the SPX: Annotated Daily Chart of the Dow: Annotated Daily Chart of the Russell 2000: The OEX chart shows similar characteristics, forming a possible "b" distribution pattern or basing pattern prior to a rise from the bottom of its descending regression channel. If the SOX still leads, it's leading these other indices to a breakdown out of those descending regression channels. However, the TRAN's action, with that index valiantly clinging to its descending regression channel support despite rising crude prices, suggests that the TRAN may be trying to assume a leadership role, too. Both should be watched. After hours, the SMH, KLIC, and CSCO all added a few cents to their closing values, with futures climbing slightly, too, but not enough to provide much encouragement to bulls. Fox Entertainment (FOX), News Corp (NWS), Cyberonics (CYBX), and Bob Evans Farms (BOBE) were among companies reporting after the close. FOX climbed on a better-than-expected result, NWS was flat, CYBX first posted a strong gain and then erased that gain after reporting earnings in line with analysts' expectations but ahead of its own, and BOBE tumbled after missing. Higher costs impact all kinds of companies, and BOBE mentioned rising hog prices. After last week's disastrous non-farm payrolls number, more attention than ever may focus on the initial jobless claims number at 8:30 tomorrow. Last week's number indicated claims at 336 thousand. Other 8:30 releases include July's Import Price Index, with June's showing a drop of 0.2 percent, July's Advance Retail Sales, with June's showing a drop of 1.1 percent and ex- auto July Retail Sales, with June's showing a drop of 0.2 percent. I heard several commentators mention the retail sales figures, with some commenting that various indicators of consumer sentiment and spending patterns had been trending down lately. Thursday, the CIBC Enterprise Software and Soundview Semiconductor Conferences continue, but DELL's Thursday-after- the-close earnings statement will also affect the performance of techs both before and after the earnings release. It would not be surprising to see the SOX climb to retest broken support as shorts rush to cover ahead of Dell's report, with that broken support from 380-386. For first indications that markets could be strengthening enough for a countertrend bounce, watch to see if the SOX and TRAN can both pick up steam to the upside or if crude prices instead pick up steam, sending the others lower. With the SPX, OEX, Dow, and Russell 2000, the task for those seeking to gauge market direction proves easy: watching for either upside or downside breaks out of the possible "b" distribution patterns, and remaining cautious about trading the chop within them. With a downtrend firmly in place, all bounces should perhaps still be considered countertrend moves and sell- the-rallies should remain the favored tactic. Be ready to jump out if proven wrong, however. ================================================================== 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 Chips to Banks Chattem - CHTT - close: 28.81 change: +1.06 WHAT TO WATCH: Here's a biotech stock that's bucking the market's weakness today. CHTT's 3.8% rally is a nice follow through to the rebound from $27.00 and puts the stock back above its 10, 40 and 50-dma's. Technicals are turning bullish and the MACD is nearing a new "buy" signal. There is still resistance at $30.00 but aggressive traders could target a move to $31.50. --- ATI Technologies - ATYT - close: 13.85 change: -0.78 WHAT TO WATCH: ATYT paced the drop in the SOX semiconductor index with a 5% drop of its own. We strongly considered adding ATYT to the play list as a short now that it has closed under support at the $14.00 level. We're just gun shy now that ATYT is down about six weeks in a row and the SOX is extremely oversold and due for a bounce. More aggressive traders may want to consider shorts anyway although take note that there appears to be some support near the $13.50 region. A move under $13.50 would produce a triple-bottom breakdown sell signal on the P&F chart. --- Alliance Gaming - AGI - close: 13.72 change: +0.03 WHAT TO WATCH: Bullish traders can take another look at AGI. The stock produced a huge bullish engulfing candlestick on Tuesday - at the bottom of its downtrend. Volume was very strong on the reversal yesterday. The move is a response to AGI's earnings report where the company beat estimates by 4 cents. Unfortunately, they guided lower and that suggests that the move could have been temporary short-covering. A number of analysts reiterated their positive outlooks on the stock but we'd suggest waiting for some follow through before considering positions. --- New York Cmty Bank - NYB - close: 19.80 change: +0.30 WHAT TO WATCH: NYB appears to have put in a significant bottom near the $18.00 region. Now shares are slowly consolidating higher. NYB recently fought with and won a battle of resistance with the simple 40-dma. Now shares are above the 50-dma. Bulls might want to consider taking positions if NYB can breakout over the $20.00 mark. However, keep in mind that it would take a move over $21.00 to reverse its P&F chart into a buy signal. ----------------------------------- RADAR SCREEN - more stocks to watch ----------------------------------- AAPL $31.01 -0.51 - This continues to look like a bullish entry point on AAPL but traders might feel more comfortable waiting for a move over $33.00. IST $27.28 -0.37 - This is the first sign of weakness in IST in several days. FBP $42.99 +0.47 - We've mentioned FBP before. The stock is consolidating higher and has broken the neckline of an inverse head-and-shoulders pattern that points to a $49-50 target. Unfortunately, FBP trades on very low volume. TIWI $8.44 -0.34 - Bears are still driving TIWI lower and the stock is approaching support near $8.00. ================== 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 C Citigroup 44.35 +0.17 TOT Total Sa (ADS) 96.77 -0.20 SC Shell Transport & Trading 43.17 -0.95 WFC Wells Fargo $ Co 57.57 +0.57 BAC Bank of America Corp 85.53 +0.53 MRK Merck & Co 45.00 +0.35 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- MICC Millicom Intl Cellular SA 15.44 -0.43 AGI Alliance Gaming Corp 13.72 +0.03 SOL Sola Internat Inc 17.83 +0.03 SNIC Sonic Solutions 13.80 -0.52 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- BCS Barclays Plc (ADR) 37.82 -0.39 DISH Echostar Comm Corp 29.92 +0.37 EK Eastman Kodak Co 28.21 -0.03 SAFC Safeco Corp 48.20 +0.94 POT Potassh Cp Saskatchewan 101.15 -1.02 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- HNP Huaneng Power Intl Inc 27.88 -0.77 KMRT Kmart Holding Corp 65.05 +0.65 RMK Aramark Worldwide Corp B 23.50 -0.74 CEPH Cephalon Inc 42.55 -0.45 MOGN MGI Pharma Inc 23.28 +1.18 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- FE Firstenergy Corp 39.24 +0.06 ================================================================= 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 08-11-2004 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: RSAS, CMTL, NATI, DLTR, ENDP Net Bulls (Tech Stocks) New Bearish Plays: SWIR Active Trader (Non-tech Stocks) New Bullish plays: TS ================================================================== Stop Loss Adjustments ================================================================== RSAS - tech stock long - Heads up! RSAS bounced from the simple and exponential 200-dma's as expected but we're still in danger of being stopped out. We're not suggesting new positions yet. --- CMTL - tech stock short - CMTL is down another 7 percent on Wednesday. Readers may want to consider taking profits now or be ready to exit when CMTL enters our profit target range of $16 to $15. --- NATI - tech stock short - NATI came within 10 cents of our initial target of $25.00. Readers may want to consider taking some money off the table now or preparing to exit as NATI looks vulnerable to more weakness tomorrow. We suggest taking profits on half a position when it hits $25.00 and tightening stops on the remainder as we target $24.00-23.00. --- DLTR - non-tech short play - Be prepared to exit as DLTR nears our target in the $22-20.00 range. Lower stop from $26.51 to $25.01 --- ENDP - high risk/reward short - Heads up! ENDP bounced more than 3 percent on Wednesday after dipping to $15.78 on Tuesday. On Sunday we suggested readers may want to take profits on a drop to $16.00. That may have been the prudent thing to do. It's not too late to cover for a strong profit with ENDP down more than 12 percent from our entry point. ================================================================== Net Bulls (NB) Tech Stock section ================================================================== --------- New Plays --------- New Bearish Plays ----------------- Sierra Wireless - SWIR - close: 25.10 chg: -2.88 stop: 28.01 Company Description: Sierra Wireless is a leader in delivering highly differentiated wireless solutions that enable our customers to improve their productivity and lifestyle. Sierra Wireless develops and markets AirCard, the industry-leading wireless PC card line for portable computers; embedded modules for OEM wireless applications; the MP line of rugged vehicle-mounted connectivity solutions and Voq, a line of professional phones with easy-to-use, secure software solutions for mobile professionals (source: company press release) Why We Like It: Surprisingly, shares of SWIR fell sharply in July after posting a strong earnings report. The company even guided higher for the third quarter but it wasn't enough to satisfy traders. After the late July oversold bounce shares of SWIR rolled over under the $32.00 level. Now the stock is breaking down under significant technical support at the simple and exponential 200-dma's. What you may find interesting is SWIR's 10 percent drop today was fueled by stronger than average volume on no news. The move follows what looked like a bounce from support during the previous two sessions. Normally we don't like to chase a stock that's already fallen more than 10 percent in one session. Plus, we'd be happier if SWIR had closed under the psychological round-number support at the $25.00 mark. However, looking at the trading action on an intraday chart suggests SWIR is poised for more weakness. We are going to use a wide stop at $28.01 and this may be too much risk for you but you need to give SWIR some room. Conservative traders might want to use $27.25. More conservative traders may also want to wait for SWIR to trade under today's low at $24.67 before initiating new positions. We're going to initially target a drop to the May lows near $21.25. P&F chart readers will note there is some support near $19.50 but the chart actually points to a $13.00 target. Annotated Chart: Picked on August 11 at $25.10 Gain since picked: - 0.00 Earnings Date 07/21/04 (confirmed) Average Daily Volume: 1.5 million ================================================================== Active Trader (AT) Non-Tech Stock section ================================================================== --------- New Plays --------- New Bullish Plays ----------------- Tootsie Roll - TR - close: 30.19 change: +0.73 stop: 28.98 Company Description: Tootsie Roll Industries is one of the nation's leading candy companies with nearly $400 million in net sales in 2003. Headquartered in Chicago with operations in Massachusetts, New York, Tennessee, Wisconsin and Mexico, the company produces more than 60 million Tootsie Rolls per day and is the world's largest lollipop supplier, producing 20 million pops per day. The Tootsie Roll family of brands includes Tootsie Roll, Tootsie Roll Pops, Caramel Apple Pops, Child's Play, Charms, Blow Pop, Blue Razz, Cella's chocolate covered cherries, Mason Dots, Mason Crows, Junior Mints, Charleston Chew, Sugar Daddy, Sugar Babies, Andes and Fluffy Stuff cotton candy. (source: company press release) Why We Like It: It's been a very tough three months for shares of TR. The stock peaked just under $38.00 and didn't stop falling until it found support at the $29.00 level. Now shares have built a base of support there for the past 2 1/2 weeks. The current rally from $29.00 was punctuated by with a breakout over round-number, psychological resistance at the $30.00 mark today and a breakout over technical resistance at its simple 21-dma. The move follows an announcement from TR that the company will pay $217 million for all the assets to Concord Confections, a Canadian-based gum maker. We believe this is a great oversold bounce play. The $29.00 level appears to be a very strong bottom as it held during the major indices recent breakdowns. Furthermore, while the P&F chart does show a high-pole reversal TR has not yet broken down into a new sell signal. The current bullish price target is actually $61. Right now we'd be happy with a rally back to $32.50. We'll start the play with a stop loss under support. More conservative traders can look for some confirmation with a move over $30.50. Another word of caution - we're breaking our own rule here about not trading stocks with less than 200K in average volume. Be careful as low volume stocks can see more volatility. Annotated Chart: Picked on August 11 at $30.19 Gain since picked: + 0.00 Earnings Date 07/29/04 (confirmed) Average Daily Volume: 57 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. Do not duplicate or redistribute in any form.
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.
To ensure you continue to receive email from Option Investor please add "email@example.com"
Option Investor Inc