PremierInvestor.net Newsletter Thursday 09-02-2004 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: Chip Crumbs Watch List: Disk Drives to Retro Apparel Market Sentiment: Odds of Profit Taking ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 09-02-2004 High Low Volume Adv/Dcl DJIA 10290.28 +121.80 10301.49 10162.05 1.37 bln 2308/ 903 NASDAQ 1873.43 + 23.00 1876.24 1846.95 1.22 bln 1993/1031 S&P 100 544.15 + 5.55 544.54 538.35 Totals 4301/1934 S&P 500 1118.31 + 12.40 1119.11 1105.60 W5000 10865.46 +116.59 10873.25 10745.76 SOX 377.60 + 3.40 378.08 370.12 RUS 2000 559.78 + 7.32 559.80 551.88 DJ TRANS 3162.49 + 7.32 3162.49 3105.68 VIX 14.28 - 0.63 15.05 14.18 VXO (VIX-O)14.37 - 0.61 15.26 14.20 VXN 21.62 - 1.03 22.94 21.50 Total Volume 2,824M Total UpVol 2,286M Total DnVol 481M Total Adv 4840 Total Dcl 2239 52wk Highs 217 52wk Lows 68 TRIN 0.50 NAZTRIN 1.41 PUT/CALL 0.92 ================================================================= =========== Market Wrap =========== Chip Crumbs by Jim Brown Don't you hate to open a bag of chips and find them settled into a pile of crumbs at the bottom of the bag? The chip sector may soon look like a sector of crumbs after the news released on Thursday. Low demand has chips on the shelf approaching their expiration date and half price sales can't be that far off if Intel's update is any guide. Dow Chart – daily Dow Chart - 60 min Nasdaq Chart – Daily SPX Chart – daily SOX Chart Advance/Decline Chart - 2 min It was a busy day economically and as usual the answers were as mixed as Forrest Gump's box of chocolates. The Chain Store Sales posted only a +1.1% gain for August compared to a +3.1% gain in July. This was the worst showing since March of 2003. We all know the reasons are gas prices, tougher comparisons over last year and some say the weather. Nothing new here from the weekly update, just more of the same. Every store group except for drug stores posted lower sales. One report today showed that 55% of stores reporting same store sales for August were below plan. Not a good outlook for the sector or the economy. Back to school sales were also reported as slower than normal. Jobless claims rocketed to 362,000 for the week and the analysts were quick to blame the after effects of Hurricane Charley on the increase. This was the first week over 350K since June 5th and was the highest level since April 10th. Offsetting the Jobless Claims news was a jump in the Monster Employment Index to 145 from last months 134. This was particularly strange since I heard an on air commentator yesterday saying they had seen an advance copy and it was not pretty. It looked ok to me but without seasonal adjustments it is tough to know what the number should be. There is not enough history for this index to be meaningful. Monster itself indicated that much of the advertising was due to seasonal trends in the Agriculture, forestry, manufacturing, mining, transportation and warehousing sectors. Productivity and Costs were revised down to 2.5% and below the estimates of 2.7% for the updated report. The revision was due to changes in the GDP and a jump in hours worked. This was the smallest gain since the second quarter of 2002 and far less than the +9.0% we saw in Q3-2003. This falling productivity is not something the Feds will be excited about but not low enough to impact their rate hike policy. Offsetting the drop in Productivity was a jump in Factory Orders by +1.3%. This was slightly better than expected and suggests the manufacturing sector is still moving forward despite the slowdown in other sectors. This was the third consecutive month of increases and the largest gain since March. Autos were weakest and that goes along with the drastic drop in auto sales which were reported yesterday. The Risk of Recession shot up to 32.7% in August from only 25.7% in July. Consumer Confidence, interest rates and weakness in the equity markets were prime factors in the jump. This report projects the chances of a new recession over the next six months. This was the second strong monthly jump with the July jump from June's 12.3% a significant move. It appears the semiconductor sector is already in a recession with the barrage of data out today. The semiconductor billings were released for July and they increased only a marginal +1%. While we have seen a decreasing trend since March and the likelihood we will see a drop in August the numbers still represent a +37.9% gain over the 2003 levels. This is the highest level attained since Q4-2000. VLSI Research would have us believe that things are better than they appear to be. We have been getting so much negative press on chips over the last two weeks that it is hard to put enough lipstick on this pig to believe that story. After the bell today Intel released their long awaited mid quarter update and it was not an exciting outlook. Intel has a lot of problems and they continue to emerge as the layers of doublespeak are peeled away. Intel lowered its revenue expectations for the current quarter to a range of $8.3B to $8.6B. This new midpoint of $8.45B is well outside their previous range of $8.6B to $9.2B with a midpoint of $8.9B. This nearly half a billion dollar haircut was accompanied by a drop in gross margin expectations to 58% from the prior estimate of 60%. This goes along with the negative margin surprises various brokers have been predicting. 60% of $9.2B is a gross profit of $5.3B. 58% of the lowered estimate of $8.45B is $4.9B in profits. This represents a drop in $400 million in expected gross earnings before costs. I doubt Intel will be standing in line for food stamps anytime soon but this was a substantial cut in estimates and represents a continuation of the downtrend started several months ago. Intel said the problem stemmed from weakness around the globe in both corporate and retail sectors with the larger weakness coming from the retail sector. They also said inventory would INCREASE again instead of dropping as they had previously forecast. This is a major change in trend and a major slip up for Intel. They said the 3Q drop was due to a weaker demand picture at the low end of historical expectations. They also said the 4Q would also be weak and set the stage for a lowered profit forecast when they announce 3Q earnings in Oct. Intel said its primary architecture products and flash memory products were trending below plan. They also said they would cut capex spending for the current quarter. There is no way to paint this update in a favorable light and investors clobbered the stock in after hours to a low of $19.57 and a close under $20. Several analysts predicted a fair value based on the current outlook at $18. Smith Barney said yesterday there was 20% downside left in Intel at 21.50 which would put it just over $17. We have been looking for a touch of $20 in the LEAPs section for an entry on some 2006 LEAPS. Looks like we got our wish. Odds are good we will also hit our exit on the SMH puts at $28. Helping push the sector lower was an after hours warning from ALTR and IDTI. While the headline stocks warning dropped between -7% to -10% on the news the majority of the other chip stocks were off -4% to -5% in late trading. As I mentioned earlier this week the closer we get to the warning season, about two weeks away, we would see an increase in warnings and chip and software companies should head the list. Fairchild Semi warned yesterday as well. Also pressing equity prices this morning was another jump in oil prices after Yukos said they were on the verge of a shutdown because of frozen accounts. Crude hit an intraday high of $45.40 before dropping to close about a dollar lower. Those that thought the $41.30 low on Monday was a hint of lower prices ahead were sadly mistaken. Everyone knows the President speaks tonight in the biggest event in the Republican convention. After a very slow and weak morning the market took flight at 2:PM and gave Bush a triple digit gift as an investor warm up prior to him taking the stage. Multiple strong buy programs fired off in quick succession and added over 2000 issues to the A/D line and +100 points to a sleepy market. We get buy programs all the time but to see multiple programs in succession and in front of the Intel update, which was expected to be negative and tomorrow's Jobs report which could also be a disaster suggests something fishy afoot. I am sure there are quite a few traders who would like to know who launched those programs and why but it is something we will never know. I would also not only pick on just the Republicans because there was an identical unwarranted program trade spike at the end of the Democratic convention. That spike rallied the Dow +155 points off its intraday lows. Actually that spike made more sense because the low for the day was just under 10,000 and strong support. We all know games are played and sometimes by people with very deep pockets and sending the President to the podium with a triple digit gain instead of a fear of Intel drop probably looked good to a lot of people. The Dow explosion today launched from 10175 and ended with a touch of 10301. This was well over several strong resistance levels and triggered substantial short covering. This was the highest level reached by the Dow since July 2nd. The Nasdaq rallied +23 points which by itself was not spectacular except that it came right in front of an almost guaranteed Intel disaster. It is amazing they could budge it higher at all. The SPX exploded over the strong 1111 resistance level and its 100/200dma as though on rocket boosters. There was barely even a blip of recognition as it crossed multiple resistance levels. Ah yes, that was today. Tomorrow may be an entirely different story without any artificial support and with very strong negatives in the tech sector. We also have that questionable Jobs report before the open and the whisper numbers are all over the map. I have heard the potential for a negative number as well as some expectations for something north of 200K. This is a huge range and given today's spike and tonight's chip news the only thing we can guarantee is a very volatile session. The main thing I heard today was "the bad news is priced in" and buyers are bargain hunting for the post convention rally. I have to agree that I was expecting a post convention bounce last week and the gains this week were probably some early adopters trying to sneak into positions but we are rapidly running out of events to power/depress the market. Beginning next week we will be left to wander on our own with little more than earnings warnings to keep us company. Beware the September winds because they blow nothing good our way. Historically next week sees an opening rally but then deteriorates into the normal October surprise. So if we do get a decent Jobs report and a post convention holiday rally be sure to wear your parachute and keep those seatbelts fastened. By breaking those resistance levels today we have just about reached the upper edge of our potential range. The Dow could have seen a further rise to 10400 if Intel has not spoiled the party. It is always possible that a blowout Jobs report tomorrow could resurrect that bullish spirit but I am thinking the damage has been done. If we do move higher it should not be much higher and we are only setting up for the next drop. As of tonight the Jobs report should have more bearing on tomorrows trading than Intel and our fate will remain unknown until 8:30 in the morning. Enter Passively, Exit Aggressively. Jim Brown Editor ================================================================== 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 --------------------------------- Hutchinson Tech - HTCH - close: 25.31 change: +0.35 WHAT TO WATCH: We almost added HTCH to the play list last night as an aggressive long play. We like the mid-August breakout above its descending trendline of resistance dating back to April. Shares spent most of the last two weeks consolidating those gains as it churned between $24 and $25. Wednesday saw HTCH produce a bullish engulfing candlestick, which appeared to be an entry point but we didn't take it because of concern over Intel's update tonight and HTCH's bearish P&F chart. Today HTCH broke through and closed over the $25.00 level but its P&F chart remains bearish and Intel disappointed as expected. If HTCH dips with the tech sector tomorrow watch for a bounce from support at $24.00. Otherwise keep an eye on its P&F chart. A move over $27.00 would produce a new "buy" signal. --- Network Appliance - NTAP - close: 20.61 change: +0.29 WHAT TO WATCH: NTAP looks poised for a bullish breakout over the top of its descending channel and its simple 200-dma. However, now investors have to digest the disappointing Intel news, which is likely to send the tech sector lower. Traders may want to consider bearish plays on a drop below $19.25 or bullish plays on a move over $21.00. The P&F chart is actually bullish. --- Pacific Sunwear - PSUN - close: 20.64 change: +1.52 WHAT TO WATCH: PSUN surged almost 8 percent on Thursday with volume well above normal after reporting better than expected August same-store sales numbers. The move pushed PSUN through round-number resistance at $20.00 and technical resistance at its simple 100-dma and the exponential 200-dma. PSUN has also broken its five-month trend of lower highs. Look for a move past $21.00 as confirmation of the new uptrend. --- Hot Topic - HOTT - close: 16.20 change: +0.83 WHAT TO WATCH: HOTT could be a retailer worth watching. Yesterday the company reported disappointing same-store sales for August but the results were largely inline with estimates. Today the stock added 5.4 percent as the retail sector rallied with the market and widespread same-store sales data from the industry. Readers can watch for a breakout from the top of its current trading range above $16.50 or watch for a dip back toward $14.50 and buy a bounce. There is technical resistance at its simple 50-dma but a move over $16.50 would put it into the gap allowing for a run towards $19.00. ----------------------------------- RADAR SCREEN - more stocks to watch ----------------------------------- CECO $34.51 +1.96 - Yesterday was COCO's turn to rally. Today was CECO's turn. The stock added 6 percent but couldn't breakout over the $35.00 level. If CECO can trade above $35.22 consider it a trigger to go long and target the $40.00 mark. =============================== Market Sentiment =============================== Odds of Profit Taking - J. Brown It has certainly been an interesting market this week. The rally on Thursday seemed to catch most traders off guard. Everyone was waiting for Intel's mid-quarter update and the expectations weren't very high. After all most of Wall Street's largest firms had already warned that they expected bad news from Intel. Yet despite this concern stocks charged higher and the Industrials and the S&P 500 broke through their simple 100 and 200-dma's. This was a very bullish technical breakout today and the NASDAQ closed at new four-week highs and the Dow closed at new seven- week highs. 29 of the 30 Dow components closed in the green and only the OSX oil services index and the XAU gold& silver index closed lower showing just how widespread the rally was today. Looking across the two-dozen or so major sector indices it's an interesting picture. For most the rally from the August lows is easily three maybe four weeks old already. Yet while some sectors are starting to look tired others appear to be catching their second wind. As most of you continue to look below this column at the various sentiment indicators I'd like to draw your attention to the bullish percent data. We've haven't discussed this much lately because most of the indices were stuck in "bear confirmed" status. Yet in the last few days we've seen the NASDAQ-100 index (NDX) bounce into a "bull alert" status. Meanwhile the S&P 100 and the S&P 500 have bounced into a "bear correction". Now the question here should be whether or not the bear "correction" is merely a pause or rebound in the downtrend or the precursor to growing into a new "bull alert". I'm not sure we can draw any short-term conclusions today but it might make you pause if you're considering new bearish positions. Now why would we be considering new bearish positions? After all the major indices just broke out to new highs over their major moving averages? One could point to the volatility indices. The rally in stocks has sent the volatility indices toward their lows, which is a dangerous spot to be considering new bullish plays. Of course the VIX/VXO are not the besting timing/entry point indicators and only offer us clues that a turnaround could be in the short-term future. Yet what a coincidence that Intel's mid-quarter update just happens to be the necessary catalyst to spark a potential bearish turnaround. Yes, if you haven't read tonight's market wrap yet Intel, as predicted, disappointed and was punished with an 8 percent drop in after hours trading. This is going to seriously hurt the SOX, which will then weigh on the NASDAQ. Odds of any profit taking after this week's rally ahead of the long Labor Day weekend just skyrocketed. Not only do investors have to deal with the Intel fallout but Wall Street will be digesting President Bush's speech tonight while anticipating the jobs report after the open on Friday. At the same time Hurricane Frances is rushing towards the east coast in what could be the most expensive storm to hit the U.S. in history! Yes, the odds of profit taking on Friday are almost guaranteed! ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 9233 Current : 10290 Moving Averages: (Simple) 10-dma: 10158 50-dma: 10127 200-dma: 10261 S&P 500 ($SPX) 52-week High: 1163 52-week Low : 983 Current : 1118 Moving Averages: (Simple) 10-dma: 1103 50-dma: 1101 200-dma: 1112 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1280 Current : 1398 Moving Averages: (Simple) 10-dma: 1378 50-dma: 1397 200-dma: 1440 ----------------------------------------------------------------- CBOE Market Volatility Index (VIX) = 14.28 –0.63 CBOE Mkt Volatility old VIX (VXO) = 14.37 -0.61 Nasdaq Volatility Index (VXN) = 21.62 -1.03 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.92 537,742 493,922 Equity Only 0.72 404,787 293,349 OEX 1.35 21,078 28,456 QQQ 3.07 20,488 62,869 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 56.9 + 1.5 Bear Confirmed NASDAQ-100 36.0 + 4 Bull Alert ***** Dow Indust. 53.3 + 6 Bear Confirmed S&P 500 54.4 + 3 Bear Correction*** S&P 100 54.0 + 5 Bear Correction*** 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: 1.24 10-dma: 1.09 21-dma: 1.23 55-dma: 1.27 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 2091 1985 Decliners 702 978 New Highs 139 57 New Lows 10 22 Up Volume 1129M 936M Down Vol. 202M 239M Total Vol. 1355M 1199M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 08/24/04 Weekly COT report discloses positions held by small specs and commercial traders of index futures contracts at the Chicago Mercantile Exchange and Chicago Board of Trade. COT data can be found at www.cftc.gov. Small specs are the general trading public with commercials being financial institutions. Commercials are historically on the correct side of future trend changes while small specs tend to be wrong. S&P 500 Commercials have upped both their longs and shorts but remain net bearish. Small traders have upped their shorts and pared back their longs a bit but remain net bullish. Commercials Long Short Net % Of OI 08/03/04 401,619 419,429 (17,810) (2.2%) 08/10/04 397,576 419,734 (22,158) (2.7%) 08/17/04 398,472 416,109 (17,637) (2.2%) 08/24/04 402,599 420,478 (17,879) (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 08/03/04 128,510 88,833 39,677 18.3% 08/10/04 135,689 93,897 41,792 18.2% 08/17/04 138,550 97,792 40,758 17.2% 08/24/04 135,151 100,351 34,800 14.7% Most bearish reading of the year: (1,657)- 5/27/03 Most bullish reading of the year: 114,510 - 3/26/02 E-MINI S&P 500 Commercial traders have decreased their longs and increased their shorts, which could be bad news for the S&P 500. In lockstep mirror-like fashion small traders are moving the opposite direction than the "smart money". Commercials Long Short Net % Of OI 08/03/04 340,053 428,736 ( 88,683) (11.5%) 08/10/04 369,547 441,055 ( 71,508) ( 8.8%) 08/17/04 404,065 457,372 ( 53,307) ( 6.2%) 08/24/04 392,065 473,911 ( 81,846) ( 9.4%) 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 08/03/04 195,105 68,717 126,388 47.9% 08/10/04 179,940 89,239 90,701 33.7% 08/17/04 192,939 92,361 100,578 35.3% 08/24/04 211,995 76,184 135,811 47.1% 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 added to both their shorts and longs but the end result was an increase in bullish sentiment on the NDX. Small traders are also bullish but have cut their enthusiasm in half. In essence small traders are beginning to turn bearish, which in a contrarian sense is bullish. Confused yet? Commercials Long Short Net % of OI 08/03/04 42,771 36,863 5,908 7.4% 08/10/04 43,968 38,351 5,617 6.8% 08/17/04 44,743 41,535 3,208 3.7% 08/24/04 48,624 43,222 5,402 5.8% 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 08/03/04 8,995 13,901 (4,906) (21.4%) 08/10/04 10,081 10,858 ( 777) ( 3.7%) 08/17/04 12,256 8,352 3,904 18.9% 08/24/04 11,666 10,068 1,598 7.3% 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 remain bullish but have pared back their longs a bit. Meanwhile small traders remain bearish but have also hedged their enthusiasm a bit. Commercials Long Short Net % of OI 08/03/04 30,118 25,029 5,089 9.2% 08/10/04 30,634 22,994 7,640 14.2% 08/17/04 30,271 22,809 7,462 14.1% 08/24/04 28,919 23,658 5,261 10.1% 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 08/03/04 4,325 5,212 ( 887) ( 9.3%) 08/10/04 6,450 8,488 (2,038) (13.6%) 08/17/04 4,388 7,089 (2,701) (23.5%) 08/24/04 5,052 7,214 (2,162) (17.6%) Most bearish reading of the year: (12,106) - 3/09/04 Most bullish reading of the year: 8,523 - 8/26/03 ================================================================= 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 Thursday 09-02-2004 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: NYB Stock Splits Announcements: 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 ================================================================== NYB - non-tech long - Exit Point/Profit Alert! - NYB has hit the $22.00 level. We're still suggesting readers consider taking some profits here but we're going to keep the play open and see how far it can run. NYB has already exceeded our initial profit target. ================================================================== Stock Splits ================================================================== Announcements ------------- 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 FDC First Data Corp 42.83 +0.64 LOW Lowe's Companies 51.30 +1.12 UTX United Technologies 94.74 +0.79 CAH Cardinal Health 46.77 +0.98 PCAR Paccar Inc 62.21 +1.10 GP Georgia-Pacific 35.00 +0.81 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- TCC Trammell Crow Co 15.50 +2.08 CATZ Computer Access Tech 5.80 +2.00 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- AEOS American Eagle Outfitters 36.38 +2.22 MLI Mueller Industries 42.77 +3.77 PLCE Children's Place 21.76 +2.76 MBRS Memberworks 25.76 +1.09 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- CHS Chico's FAS 38.58 -2.50 VTS Veritas Dgc 20.97 -3.60 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ------------------------------------------- .none.. ================================================================= 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.
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