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Daily Newsletter, Thursday, 08/19/2004

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PremierInvestor.net Newsletter                 Thursday 08-19-2004
                                                    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: Oil is spoiling all the fun.
Market Sentiment: Out of their system
Watch List: Toys to Airlines and more


=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
     08-19-2004            High     Low     Volume Advance/Decline
DJIA    10040.82 – 42.33 10082.78  9989.87 1.55 bln   1159/1599
NASDAQ   1819.89 – 11.48  1829.13  1811.68 1.40 bln   1183/1812
S&P 100   533.10 -  1.74   534.84   530.38   Totals   2342/3411
S&P 500  1091.23 -  3.94  1095.17  1086.28
RUS 2000  537.44 -  4.17   541.61   536.14
DJ TRANS 3052.43 – 42.04  3092.69  3032.99
VIX        16.96 +  0.73    17.55    16.31
VXO        17.27 +  0.79    17.64    16.56
VXN        23.91 -  0.26    25.10    23.80
Total Volume 3,238M
Total UpVol  1,202M
Total DnVol  1,989M
52wk Highs      94
52wk Lows      102
TRIN          1.05
PUT/CALL      0.89
=================================================================

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

Oil is spoiling all the fun.
Jane Fox

Today's News

Although I will not belabor oil prices for I'm sure they will get
a very good summary in the futures wrap I would like a minute to
address some issues. Crude oil prices have surged about 30% in
the past six weeks and stand about 50% higher than they were a
year ago. The four major reasons for this surge are: higher
demand, led mostly by increased consumption in China; low oil
inventories world-wide; violence in Iraq and the ongoing problems
of the Russian oil giant Yukos. The run-up in oil has taken its
toll on stock prices and even the Federal Reserve jumped on the
bandwagon when, last week, it blamed oil prices for slowing
economic growth. Of course in the whole scheme of things, oil has
a long way to go before it reaches its inflation-adjusted high of
$80.00, the price, in today's dollars, it reached in 1980 after
the Iranian revolution. September Crude Oil hit a high of $48.80
today.

In other news, Google (GOOG) set an IPO price far lower than it
had anticipated to $85 a share, 37% lower than the top of the
$108-to-$135 it had declared to regulators last month as the
expected range. Because of a lower expected price, Google also
announced they were more than halving the number of shares they
planned to sell. GOOG actually hit the street at $100.00 today
and ended the day at $100.36 with 22 million shares changing
hands.

Amazon.com Inc. (AMZN) has agreed to buy Joyo.com Ltd., China's
largest online retailer of books, music and videos, for $72
million. Joyo operates the Joyo.com Web sites in cooperation with
Chinese subsidiaries and affiliates. AMZN ended the day down -
0.70 at $38.66.

Nortel Networks Corp. (NT) announced a restructuring plan that
will cost $300 million to $400 million, which should result in
annualized cost savings of about $450 million $500 million and
reduce its work force by about 10%, or 3,500 jobs. The
restructuring, effective Oct. 1, will combine its wireless,
wireline and optical businesses into one carrier-networks
organization. NT ended the day up +0.14 at 3.74.

The SEC has sent a warning to Freddie Mac (FRE) that the company
is likely to face civil charges involving alleged violations of
securities law stemming from its disclosure last year of
accounting manipulation. FRE ended the day down -0.92 at $66.63.

Economic Reports

Although economists predicted the Conference Board's composite
index of leading indicator's July index would slide by 0.2% it
actually fell by 0.3% to 116.0. June's index was also revised to
a drop of 0.1%. Conference Board economist Ken Goldstein was
quoted as saying, "The data for June and July reflect a slowing
down of what had been a strong pace of economic activity through
May." The Conference Board is painting a fairly bleak assessment
of current circumstances because rising energy prices, rising
interest rates, the end to tax-cut stimulus and terrorism threats
are slowing the economy's forward momentum.

The Federal Reserve Bank of Philadelphia August's index, which
measures activity in the region's manufacturing sector, slowed to
28.5 from July's 36.1 reading and fell short of the 30.3
predicted by economists. The reading indicates growth but at a
slower pace relative to the prior month. Philadelphia-area
manufacturers have seen expanding growth for the last 15 straight
months.

The Labor Department's weekly Initial Claims showed initial
jobless claims, for the week ending August 14, dropped for a
third consecutive week to 331,000, marking the lowest level since
the week of July 3. The four-week average declined for the second
week in a row, falling 2,500 to 337,250.

Earnings

Claire's Stores (CLE) and Limited Brands were the latest
companies to offer 2nd quarter results that topped analyst
estimates. Shares of Claire's Stores hit a 52-week high of 25.58
but ended the day up +1.47 at $24.62. Limited Brands (LTD) ended
the day off -0.25 at $20.00.

Mainly due to a debt-redemption charge, the nation's largest book
chain, Barnes & Noble Inc.(BKS), reported a 35% drop in second-
quarter earnings. However, sales were lifted by sales of high
profile titles and BKS was able to raise its full-year guidance.
BKS ended the day down -0.34 at $34.65.

Despite reporting that its August sales are running at the low
end of its earlier forecast, Hot Topic (HOTT) backed its previous
earnings outlook for the second half of the year. HOTT ended the day
up +1.41 at $15.90.

On to the charts.

Annotated Daily Chart of the NYA :



Here is a bullish chart. Support at 6215 (magenta line) has been
successfully tested 6 times with MACD and CCI positive
divergences all over the place. The only problem is the blue line
joining the April lows with the August 2nd highs converges with
the 200 and 50 MAs and could be an enormous hurdle to jump.

Annotated Daily Chart of the Russell 2000:



On this chart I have drawn the same blue line connecting the
March lows with the August 2nd highs and as you can see RUT has
the same hurdle to overcome as does the NYA; resistance
culminating with the 200 and 50 MAs. The noticeable difference
here, however, is the direction of the magenta arrow connecting
the bottoms. The RUT is making a lower low and is therefore
weaker than the NYA.

You can see the same larger MACD and CCI divergences but the
smaller ones that show up on the NYA chart do not show up here.

Annotated Daily Chart of the SPX:



Things are not quite as clear here as they are in the NYA chart
and a much less bullish picture. The May lows and the July lows
(blue line) were a clear line of resistance that has been broken
to the upside and should now become support and I think a very
important support. The next resistance will be converging 200 and
50 MAs and a swing high at ~1108-1110. We are in an area of no-
man's land and for the bulls to win they need to break above the
"red box" and hold support at 1076-1078.

Annotated Daily Chart of the Dow:




Qcharts has a lot of missing data on the INDU chart so I am
reverting to the DJX, which should give us the same general
picture.

I see resistance at the August 2nd swing high that matches up
with the converging 200 and 50 MAs. What bothers me the most
about this chart is the longer term MACD divergence (magenta
arrows) is suggesting that strength is returning but on the
short-term those divergences do not show up. If strength indeed
were returning to this market I would think the swing lows at
July 26 and August 13 would be showing a very nice MACD
divergence but they are not.

Annotated Daily Chart of the Nasdaq:



I don't see anything bullish about this chart at all. I see no
MACD or CCI divergence to hint at strength, usually the first
indication that strength is returning. I do see a clear
resistance at ~1900 where the March lows and August highs line up
with the 50 MA. 1900 is also the 50% retracement from June highs
to August lows.

Outlook

If the major indices can make it through all the "red boxes" I
think we have a chance but until then I am keeping my powder dry.
My bear claws are not as sharp as they were before but I sure
don't have bull's horns growing yet.

There are no economic reports slated for tomorrow.

Jane Fox


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

Out of their system
 - J. Brown

Okay, if you haven't heard Google's IPO has finally come to
market.  There I said it and if you haven't heard about GOOG's
first day of trading then you've been living in a cave somewhere.
Now someone please tell the financial media to get it out of
their system.  I mean really most of the investors they polled
said they weren't interested buyers anyway.  I'll step down off
my soapbox now.

Aside from the Google "excitement" the day was pretty lackluster.
Stocks were widely lower in some profit taking after four days of
gains.  The economic data that came out this morning wasn't very
positive.  The Philly Fed activity index dropped from 36.1 in
July to 28.5 in August.  If you believe the economy is slowing
there's some proof for you.  Meanwhile the July leading economic
indicators slipped 0.3% versus economists' expectations for a
small climb.

The other top story today was oil and while it's an old story it
should have more impact on the markets than Google.  Crude oil
rose to a new all-time high up $1.43 to $48.70.  I was guessing
we'd see $50 before the end of the month but another day like
today and we will see $50 a barrel by the weekend.  Driving oil
higher was disappointing developments in Iraq.  The opposition
cleric Al-Sadr has rejected the Iraqi government truce (big
surprise there) but his militia says they will torch oil wells
and blow up pipelines if the government and the U.S. forces don't
back down from their plans to remove him from the city of Najaf.
Late this afternoon while the market was still open news reports
were coming in that Iraqi militants had burned down some Iraq
South Oil Company buildings.

The general consensus from what I've heard and read is that last
Friday was a short-term bottom but no one can find any reasons
for the markets to rally.  This is especially true now.  The
recent bounce was sparked on hopes that oil may have peaked and
now it has pushed to another new high.  We're starting to hear
talk of oil trading above $50.  Almost everyone agrees that there
is very little catalysts to get the market moving (higher) again
before Labor day.  The Olympics, while a security success thus
far, are still going on and the Republican National Convention in
New York is coming soon.  The RNC is going to be the next big
terrorist target between here and the November election and
speculation suggests that trading will be extremely light during
the convention.

Traders should remain cautious.  The last week or so has seen a
lot of false signals both up and down.  The name of the game
between now and mid-September is capital preservation!


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

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  9230
Current     : 10040

Moving Averages:
(Simple)

 10-dma:  9921
 50-dma: 10111
200-dma: 10243



S&P 500 ($SPX)

52-week High: 1163
52-week Low :  983
Current     : 1091

Moving Averages:
(Simple)

 10-dma: 1075
 50-dma: 1099
200-dma: 1109



Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1256
Current     : 1353

Moving Averages:
(Simple)

 10-dma: 1329
 50-dma: 1393
200-dma: 1442



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

CBOE Market Volatility Index (VIX) = 16.96 +0.73
CBOE Mkt Volatility old VIX  (VXO) = 17.27 +0.79
Nasdaq Volatility Index (VXN)      = 23.91 –0.26


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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.89        711,771       678,781
Equity Only    0.89        824,248       731,637
OEX            1.08         55,938        60,631
QQQ            1.28         69,746        89,000


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

Bullish Percent Data

           Current   Change   Status
NYSE          53.5    + 1     Bear Confirmed
NASDAQ-100    27.0    + 1     Bear Confirmed
Dow Indust.   46.7    + 0     Bear Confirmed
S&P 500       47.8    + 0     Bear Confirmed
S&P 100       45.0    + 0     Bear Confirmed


Bullish percent measures the number of stocks in an index
currently trading on a buy signal on their point and figure
chart.  Readings above 70 are considered overbought, and readings
below 30 are considered oversold.

Bull Confirmed  - Aggressively long
Bull Alert      - Cautiously long
Bull Correction - Pause or pullback in upward trend
Bear Alert      - Take defensive action if long
Bear Confirmed  - High risk if long, good conditions for shorting
Bear Correction - Pause or rebound in downtrend


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

 5-dma: 0.62
10-dma: 1.22
21-dma: 1.26
55-dma: 1.25


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    1159      1183
Decliners    1601      1812

New Highs      41        39
New Lows       20        72

Up Volume    651M      495M
Down Vol.    866M      894M

Total Vol.  1546M     1399M
M = millions


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

Commitments Of Traders Report: 08/10/04

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

There has been almost no change in the commercial traders'
positions for the large S&P 500 futures contracts.  They remain
marginally bearish.  Meanwhile small traders have upped their
bets in both longs and shorts but remain net bullish.


Commercials   Long      Short      Net     % Of OI
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%)
08/10/04      397,576   419,734   (22,158)   (2.7%)

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
07/22/04      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%
08/10/04      135,689    93,897    41,792    18.2%

Most bearish reading of the year:  (1,657)- 5/27/03
Most bullish reading of the year: 114,510 - 3/26/02


E-MINI S&P 500

Commercial traders have upped their stakes in both their
long and short positions but the net results was a small decrease
in bearishness.  Small traders pared back their longs and added
to their shorts to decrease their bullish stance some but they
remain net bullish (albeit the least bullish in a month).


Commercials   Long      Short      Net     % Of OI
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%)
08/10/04      369,547   441,055   ( 71,508)  ( 8.8%)

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
07/22/04      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%
08/10/04      179,940     89,239    90,701    33.7%


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


NASDAQ-100

There was very little movement from the commercial traders.
They did add positions on both sides but the result was a
small move closer to neutral.  Small traders are really
undecided and a very close to a dead heat.


Commercials   Long      Short      Net     % of OI
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%
08/10/04       43,968     38,351     5,617    6.8%


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
07/22/04        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%)
08/10/04       10,081    10,858    (  777)  ( 3.7%)


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

Commercial traders reduced their short positions but a few
thousand which increased their bullish stature.  Small traders
naturally moved the opposite direction and increased their
shorts to boost their bearish outlook.


Commercials   Long      Short      Net     % of OI
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%
08/10/04       30,634    22,994    7,640      14.2%

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
07/22/04        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%)
08/10/04        6,450     8,488   (2,038)   (13.6%)

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

Toys to Airlines and more

Mattel Inc - MAT - close: 16.40 change: -0.34

WHAT TO WATCH: The long, slow demise in shares of MAT may be
ready to pick up speed.  Investors have obviously been rotating
out of this one as they sell the rallies.  Now that Toys R Us is
thinking about getting out of the toy business Mattel is going to
lose a big customer.  The drop to new 18-month lows for MAT is
bad news.  We would consider bearish positions if MAT broke down
under the $16.00 mark.  The bearish P&F chart currently points to
$11.00.




---

Ryanair Holdings - RYAAY - close: 30.01 change: -0.85

WHAT TO WATCH: Crude oil's rise to new highs again hit the
airline sector pretty hard.  The XAL index fell 2.8%.  RYAAY
paced the decline and closed right at round-number support at
$30.00.  This support level has held for the past six months with
one dip to $29.25.  Readers can watch for a new low under $29.25
as an entry point to short the stock.  We would target a drop to
$25.00 but the bearish P&F chart points to $7.00.




---

Costco Wholesale - COST - close: 42.35 change: +0.69

WHAT TO WATCH: Bulls will want to take note of COST's breakout
over resistance at the top of its trading range near $42.00.  The
move was fueled by almost double the average volume and its
technicals are turning higher.  The MACD indicator has produced a
new "buy" signal.  There is obvious resistance at the $43.00 mark
but the P&F chart is bullish and points to a $64 target.




---

InterActiveCorp - IACI - close: 23.43 change: -0.20

WHAT TO WATCH: The move over $23.00 could be significant.  IACI
appears to be in the process of "filling the gap".  Readers might
want to consider speculative positions if IACI trades over $24.00
and target a move to $27.00.  Keep in mind this is somewhat of a
risky buy-the-bounce kind of play with the P&F chart so bearish.






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

RDWR $18.30 +0.15 - RDWR has broken through the top of its 3 1/2
month trading range.  Keep an eye on this for some follow
through.

AAPL $30.71 -1.03 - AAPL is down more than 3% on the battery news
but it has not yet broken its rising trendline of support.  This
could be an entry point but we'd still wait for a move over $32
or $33.

NPSP $20.52 -0.10 - In spite of a downgrade this morning NPSP is
still holding on to its gains and breakout over the $20 level.

SNPS $14.65 -6.63 - Correction: last night when we mentioned SNPS
in the watch list and said be careful because the company had
warned we were under the impression that news had come out during
trading hours.  In reality the news came out last night after
trading hours.  Instead of looking for a breakout over $22.00
readers can look for a dead cat bounce over $16.00.


=================================================================
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 ) 2003  PremierInvestor.net. and
The Premier Investor Network.
Do not duplicate or redistribute in any form.





PremierInvestor.net Newsletter                 Thursday 08-19-2004
                                                    section 2 of 2
Copyright (c) 2004, All rights reserved.
Redistribution in any form is strictly prohibited.

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

Stop Adjustments:  None


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


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

None


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

PTR     Petrochina                 48.36     +0.64

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

PRVD    Provide Commerce           17.10     +1.41
PDQ     Prime Hospitality          11.96     +3.33
JUPM    Jupiter Media              15.10     +2.00
HOTT    Hot Topic                  15.90     +1.41
MYL     Mylan Labs                 17.20     +1.62

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

NEM     Newmont Mining             44.03     +1.76
SYMC    Symantec                   47.76     +1.06
INTU    Intuit Inc                 40.47     +1.38
HAR     Harman Intl                89.70     +4.50
CCJ     Cameco Corp                66.21     +2.03
CLE     Claire's Stores            24.63     +1.48
EXBD    Corporate Exec Board Co    58.82     +1.22

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

HRL     Hormel Foods               26.49     -1.65
AMSG    Amsurg Corp                20.57     -1.51
STGS    Stage Stores               32.15     -2.76

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

ASD     American Standard Co       37.17     -1.43
PNW     Pinnacle West Capital      41.44     -1.31
RAVN    Raven Industries           35.90     -3.31


=================================================================
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 2003  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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Option Investor Inc
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Littleton, CO 80163

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