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Daily Newsletter, Tuesday, 10/05/2004

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PremierInvestor.net Newsletter                  Tuesday 10-05-2004
                                                    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:       Bowflex Bulls
Watch List:        Descending Airlines to Rising Software and more!
Market Sentiment:  Weak Economics and Rising Oil

=================================================================
MARKET WRAP  (view in courier font for table alignment)
=================================================================
      10-05-2004           High     Low     Volume   Adv/Dcl
DJIA    10177.68 + 38.90 10221.11 10158.07 1.76 bln 1579/1637
NASDAQ   1955.50 +  3.10  1960.90  1946.86 1.71 bln 1413/1729
S&P 100   544.48 -  0.26   546.17   543.13   Totals 2992/3366
S&P 500  1134.48 -  0.69  1137.87  1132.03 
SOX       404.57 -  0.43   408.53   399.48
RUS 2000  587.34 -  1.75   590.09   586.64
DJ TRANS 3335.60 + 17.00  3342.76  3310.28
VIX        13.95 +  0.54    14.19    13.51
VXO (VIX-O)13.27 +  1.22    13.92    13.20
VXN        20.02 +  0.41    20.26    19.59 
Total Volume 3,741M
Total UpVol  1,877M
Total DnVol  1,797M
Total Adv  3342
Total Dcl  3713
52wk Highs  401
52wk Lows    63
TRIN       1.44
NAZTRIN    0.54
PUT/CALL   0.84
=================================================================

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

Bowflex Bulls
by Jim Brown

Fresh off their Bowflex workout the bulls continue to hold
the indexes at their highs. Pumping iron would be an easy
task compared to holding up the Nasdaq at these levels but
the bulls are making it look easy. For two days the buyers
have refused to let the Nasdaq vary more than a ten point
range and support at 1950 is building.  

Dow Chart

 
Nasdaq Chart

 


Earnings warnings, high oil and negative economics failed
to weaken the six day old rally and more traders are now
wondering if the next move will be to bypass profit taking
and blaze higher. The bulls do not appear to be afraid of 
the calendar or the news. 

The negative economics began with the Challenger Layoff
report which showed job cut announcements surged to a 
new eight month high impacting 107,863 workers in Sept.
Also down were new hires with only 16,166 new job openings
compared to 132,105 in August. The layoffs were 41% more
than the level in September 2003. For the entire third
quarter there were 251,585 announced layoffs, +20% more
than the second quarter. Computers, transportation, telecom
and consumer products surged to twice as high as prior
months. Despite all the doom and gloom we need to remember
that job cuts increase towards the end of a quarter so 
this may not be a pattern that will continue. The general
consensus for the jobs report on Friday is for overall 
gains for September in the range of 160,000 jobs. 

The headline number on the ISM Services fell to 56.7 
for September from 58.2 in August. This was well below
the expected rise to 59.3. This was the second straight
month under the 60% level considered as decent growth. 
The headline number at 56.7 was the lowest level since
May-2003. New orders were flat and inventory fell slightly
but employment rose more than +2 points to 54.6. The 
strong employment component further suggests we could
have a decent jobs number on Friday. With the mixed
internals it is very hard to build a case for a strong
economy. It may still be expanding but the pace is 
continuing to slow. High energy prices continue to 
produce a drag on consumer spending and the service 
sector was not immune. 

The mixed messages from the Challenger Report and the
ISM put further emphasis on the Friday Jobs report. 
Coming just before the next presidential debate the
report will be key for the economic picture and both
candidates could find ammunition to use against the
other depending on the outcome. Also due out on Friday
is the revised estimates for the jobs for the last
quarter. These revisions could amount to a gain of
+288,000 additional jobs according to one analyst.
If the revision comes to pass as well as the +160,000
consensus estimate the Bush position would be much
stronger. Should we see a strong upward revision I
would not put it past Kerry to question administration
numbers and motives for announcing the data in advance
of the second debate. While we all know the revisions
are a matter of course each quarter the voting public
could easily be led astray by the apparent timing. 

Oil continued to rise and finally broke the mental $50 
barrier that has held us for a week and jumped to close
at $51.09. Despite the jump there was no material
impact to the equity markets. Impacting prices today
was a report that 25% of the Gulf of Mexico production
was still shut in due to hurricane damage. Wednesday
afternoon we will get the weekly oil and gas inventories
and a decline is again anticipated. Home heating oil
and natural gas prices are continuing to explode and
consumers are not going to be happy when holiday
shopping rolls around and wallets are empty. 

AMD warned today that revenue would be lower due to  
reduced sales in its flash memory business. Prior
guidance for a modest gain in Q3 was erased but they
did say earnings would be inline due to strength in
the processor business. Earnings are due out on 
Thursday and the stock was down only -2 cents in
regular trading. Intel gained +19 cents on the news
and closed at a new five week high. Current resistance
is the 50dma at 21.55 and August resistance at $22.

Pulte Homes got whipped for another -3.88 drop to $52
after warning that sales would be weaker due to a sales
slowdown in Las Vegas. The company said they raised 
prices too fast in Vegas with increases of up to +100%
in the last year. With the housing market so tight 
there homes were being bought months in advance of
being built. The feeding frenzy has cooled and PHM
was forced to cut prices about -$70,000 per home 
(-18%) to move inventory. Toll Brothers fired back 
today that growth was still expected to be +30% with
20% or more growth in 2006. They were also seeing -5%
cancellation rates in Vegas but felt it was consistent
with market averages. 

After the bell today Amerisource Bergen (ABC) warned
on revenue and earnings saying price increases were
less than expected. Delphi (DPH) warned that it would
post a larger than expected loss. Ford and GM said
they were cutting production for Q4 early last month.
Those production cuts and rising commodity prices
put the squeeze on Delphi. Zoran (ZRAN) warned after
the close that its chip sales for consumer electronic
devices would be less than expected. Open Text (OTEX)
fell -17% after warning as well. OPNET (OPNT) also
warned. Not everything was negative with RCKY and 
SALM guiding slightly higher. 

The earnings calendar begins to hspeed up as the 
week progresses and turns into a flood next week. For
Wed we have DNA, MON and WWW. Thursday sees the first
Dow component report with Alcoa, who has already warned,
and AMD, AMHC, COST, MAR and ATYT. With Friday's Jobs
report we will also get earnings from GE. Next week
more than 250 companies report and although we have
seen some warnings this week it has been much less
than most analysts expected. This lack of news could
be giving the markets additional lift as investors
begin to build on hopes that Q3 is not going to be 
as bad as originally thought. 

After two very strong days of gap open surges we saw
Tuesday turn into a consolidation day for the Dow. The
Dow support is currently 10167 and the 100dma and we 
held there all afternoon. This 10167 level is right in
the middle of the range we have seen over the last two 
months. This is neither a bullish or bearish level and
should be considered a neutral zone as we face the 
typical October challenges. The upper side of this
neutral zone is strong resistance at 10300-10350. The
200dma awaits at 10298 along with downtrend resistance
from January. 

The Nasdaq is much stronger with the bounce to 1960
holding despite numerous tech warnings still appearing.
The AMD warning failed to produce any negativity and
the mixed economics caused barely a blip. As long as
the SOX remains over 400 the tech bulls do not need to
worry about protecting their flanks. Tech investors see
that SOX strength and become encouraged. The SOX has
put in higher highs and lows since the bottom at 350
in September and with the historical end of October
rebound ahead nobody is taking profits. The Nasdaq
is chipping away at the 200dma resistance at 1965
and any good news could easily break through that 
level.

The VP debate hits the airwaves tonight and Cheney 
will try to repair some of the problems created
by Bush last week. Cheney is a strong public speaker
but as a trial lawyer so is Edwards. Odds are good we
will see a verbal brawl and the outcome is far from 
assumed. Tomorrow we have no material economic reports
but will have to deal with oil inventories at 10:30. 
The markets need to hold their gains for the rest of 
the week to put bearish fears to rest. It may not be
an easy task with economics intensifying on Thursday
and Jobs on Friday but it is possible. The bulls 
climbed a significant wall of worry to get here and
they are enjoying a well deserved rest but loftier 
heights await. 

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

RyanAir Holdings - RYAAY - close: 28.07 change: -1.43

WHAT TO WATCH: This looks like a bearish entry point in RYAAY.  
The stock's recent consolidation near the $30.00 level has 
finally broken down and the stock is hitting new one-year lows.  
There is potential support near $27.50 but we don't expect it to 
hold. Consider targeting the $25.00 level or lower.  The P&F 
chart is very bearish with a $7.00 target.

Chart=


---

Veritas Software - VRTS - close: 20.05 change: +0.43

WHAT TO WATCH: This looks like a bullish entry point in VRTS.  
We've been watching this software stock for weeks for a breakout 
over major resistance and bottom of the gap near $20.00.  The 
stock broke out and closed over this level today.  One of our 
concerns is that the stock looks a little overbought here up five 
days in a row.  Aggressive traders may want to go long now.  
We're going to watch and see if there is any profit taking or if 
VRTS continues to climb on short-covering.  The P&F chart is 
bullish with a $27 target.

Chart=


---

Escalon Medical - ESMC - close: 13.37 change: +1.38

WHAT TO WATCH: ESMC has been very volatile the last few weeks.  
It now appears that traders are buying the stock near support at 
$11.50 and its exponential 200-dma.  Shares soared more than 11 
percent on Tuesday driven by strong volume.  Tuesday's rally also 
pushed the stock above its simple 10 and 200-dma's.  This might 
be a bullish entry point for aggressive traders but we want to 
emphasize that this is a risky stock to trade.  

Chart=


---

Starbucks - SBUX - close: 47.43 change: +0.38

WHAT TO WATCH: We like the bullish breakout over $46.00-46.25 and 
we like its bullish technical indicators.  However, right now 
traders can watch SBUX for a dip back to $46.00 or a new high 
over resistance near $48.00-48.40.  Keep in mind that this is a 
pivotal level. SBUX is either going to breakout to new highs or 
put in a bearish double-top.  

Chart=



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

BVN $24.95 +2.11 - This gold stock has broken out over major 
resistance at $24.00 and its simple 200-dma.

YUM $41.50 +0.63 - This fast-food titan has broken through the 
top of its trading range between $40 and $41.

UIS $10.82 +0.18 - UIS is a computer services company who's stock 
has been churning sideways between $9.75 and $10.80 for weeks.  
Shares appear to be breaking out to the upside.

CMCSA $29.41 +0.25 - Bulls can watch CMCSA for a breakout over 
resistance at $30.00 and its simple 200-dma.


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

Weak Economics and Rising Oil
- J. Brown

What's on investors' minds these days?  Record high oil prices is 
a hot topic.  Light sweet crude close at $51.09 - an all-time 
record.  A few weeks ago people were worried about $50 a barrel.  
Now the talk is $60 a barrel.  This isn't good news for our 
economic recovery and it's not good news for consumers, 
businesses and future earnings numbers.  

Less than inspiring economic data this morning didn't help 
matters.  The ISM services index slipped to 56.7 percent in 
September, down from economists' expectations and the August 
reading at 59.0.  Of course it's all about interpretation.  Any 
reading over 50 is technically bullish because it represents 
economic growth and expansion.  

The planned corporate job cuts report from Challenger, Gray and 
Christmas did not do much to inspire investors either.  The 
latest data out this morning shows that American businesses plan 
to cut over 107,000 jobs over the next few months compared to 
just 74,000 in August.  Some see the Challenger report as a 
leading indicator for this Friday's non-farm payrolls (jobs) 
report.  

Another round of earnings warnings may be taking the wind out of 
the bulls' sails as well.  On Monday it was homebuilder Pulte 
(PHM) who issued a warning and sent the entire sector lower.  
Today it was yet another semiconductor stock, this time AMD, who 
warned for the third quarter.  The Q3 earnings season begins on 
Thursday with Alcoa and Friday with General Electric. 

If you follow the ARMS index or short-term trading index you may 
notice that the 5-day moving average is sporting a very bearish 
reading at 0.68.  Normally readings under 0.85 are consider 
bearish.  

Look for oil to hog the spotlight again tomorrow.  Wall Street 
will be waiting for the latest crude oil inventories numbers.  
Plus, there's always a chance that Fed Governors Poole or Hoenig 
may say something interesting as both speak at separate events 
tomorrow.  Last but not least if there is any lack of news 
tomorrow the media is likely to fill it with recaps and analysis 
of the vice-presidential debate tonight.



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

Market Averages

DJIA ($INDU)

52-week High: 10753
52-week Low :  9230
Current     : 10177

Moving Averages:
(Simple)

 10-dma: 10106
 50-dma: 10121 
200-dma: 10298



S&P 500 ($SPX)

52-week High: 1163
52-week Low :  990
Current     : 1134

Moving Averages:
(Simple)

 10-dma: 1117
 50-dma: 1104
200-dma: 1119



Nasdaq-100 ($NDX)

52-week High: 1559
52-week Low : 1301
Current     : 1461

Moving Averages:
(Simple)

 10-dma: 1418
 50-dma: 1385
200-dma: 1441



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

CBOE Market Volatility Index (VIX) = 13.95 +0.54
CBOE Mkt Volatility old VIX  (VXO) = 13.27 +0.16
Nasdaq Volatility Index (VXN)      = 20.02 +0.41


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

          Put/Call Ratio  Call Volume   Put Volume

Total          0.83        849,417       709,061
Equity Only    0.67        740,807       497,794
OEX            1.48         19,754        29,358
QQQ            4.27          9,069        38,720


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

Bullish Percent Data

           Current   Change   Status
NYSE          66.2    + 1     Bear Correction
NASDAQ-100    47.0    + 3     Bull Alert      
Dow Indust.   60.0    + 3.6   Bear Correction
S&P 500       64.4    + 1.8   Bear Correction
S&P 100       63.0    + 1     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: 0.68
10-dma: 1.07
21-dma: 1.97
55-dma: 1.12


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    1344      1359
Decliners    1467      1663

New Highs     185        70
New Lows       12        26

Up Volume    682M      967M
Down Vol.   1051M      685M

Total Vol.  1751M     1693M
M = millions


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

Commitments Of Traders Report: 09/28/04

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

The most recent data doesn't show a lot of movement.  Commercial
traders upped their short positions a bit so they remain net
bearish.  Small traders didn't do much maneuvering and remain
net bullish.

Commercials   Long      Short      Net     % Of OI
09/07/04      415,952   426,342   (10,390)   (1.2%)
09/14/04      442,049   469,982   (27,933)   (3.0%)
09/21/04      404,746   425,560   (20,814)   (2.5%)
09/28/04      404,773   434,441   (29,668)   (3.5%)

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
09/07/04      157,732   130,817    26,915     9.3%
09/14/04      167,310   126,513    40,797    13.9%
09/21/04      134,943   108,036    26,907    11.1%
09/28/04      135,317   107,173    28,144    11.6%

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

The e-minis always see a lot of action and this time we see
the commercial traders upping both their longs and shorts in
almost equal percentage moves so "smart" money remains bearish.
Small traders also upped their longs and shorts and remain
strongly net bullish.

Commercials   Long      Short      Net     % Of OI 
09/07/04      371,111   600,593   (229,482)  (23.6%)
09/14/04      377,643   586,139   (208,496)  (21.6%)
09/21/04      213,014   397,844   (184,830)  (30.2%)
09/28/04      226,020   420,714   (194,694)  (30.1%)

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
09/07/04      286,194     80,075   206,119    56.2%
09/14/04      289,155     81,314   207,841    56.1%
09/21/04      256,315     60,275   196,040    61.9%
09/28/04      262,501     68,255   194,246    58.7%

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


NASDAQ-100

The NDX futures aren't seeing much action from the commercials.
They did up their short positions a bit after the previous 
periods significant drop.  Yet professional traders remain
net bullish on the NDX.  In contrast the small trader remains
heavily net bearish but not to the extreme they were a week
ago.  

Commercials   Long      Short      Net     % of OI 
09/07/04       51,814     44,179     7,635    7.9%
09/14/04       64,282     59,808     4,474    3.6%
09/21/04       54,530     30,827    23,703   27.7%
09/28/04       55,045     32,319    22,726   26.0%

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
09/07/04       16,817    12,561     4,256    14.5%
09/14/04       36,372    28,584     7,788    12.0%
09/21/04        7,417    25,821   (18,404)  (55.3%)
09/28/04       10,078    22,917   (12,839)  (38.9%)

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

Interesting... commercial traders didn't make many adjustments
but small traders did.  We're seeing small traders hedge their
bets as their longs and shorts grow closer together.  This 
has significantly reduced their bearish outlook on the Dow.

Commercials   Long      Short      Net     % of OI
09/07/04       29,128    24,011    5,117       9.6%
09/14/04       41,951    34,486    7,465       9.7%
09/21/04       30,816    27,200    3,616       6.2%
09/28/04       29,714    26,877    2,837       5.0%
 
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
09/07/04        5,041     8,656   (3,615)   (26.4%)
09/14/04        8,121    14,425   (6,304)   (27.9%)
09/21/04        4,467     6,748   (2,281)   (20.3%)
09/28/04        5,143     5,988   (  845)   ( 7.6%)

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


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

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







PremierInvestor.net Newsletter                  Tuesday 10-05-2004
                                                    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:  ETM

High Risk/Reward
  Closed Bullish Plays: IO

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

ETM - non-tech short -
  We are still suggesting that readers consider taking profits now.
  The stock is starting to find more support near $32.40-32.50 and
  ETM may not hit our target at $32.00.


==================================================================
High Risk/Reward (HR) Stock section
==================================================================

============
Closed Plays
============

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

Input Output - IO - close:  9.80 change: -0.93 stop: 9.95

Ouch!  An earnings warning can really ruin your whole day.  
IO's relative strength was all for naught.  The company issued 
an earnings warning before the bell.  Previously the company 
had guided in the 6-cent to 10-cent range with analysts' 
estimates right in the middle at 8 cents.  The company came out 
today and said Q3 numbers would fall in the breakeven (0 cents) 
to 3 cents per share.  Investors naturally reacted negatively and 
IO opened at $9.99 and quickly traded down to $9.25 before bouncing.  
We were stopped out at $9.95.

Picked on October 01 at $10.60 
Gain since picked:      - 0.80
Earnings Date         10/28/04 (unconfirmed)
Average Daily Volume:      783 thousand
Chart =



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

CVX     ChevronTexaco              54.45     +0.59
BUD     Anheuser-Busch             50.74     +0.54
FOX     Fox Entertainment          29.25     +1.12
GCI     Gannett Co Inc             85.20     +0.68
NXTL    Nextel Communications      25.55     +0.52
LEH     Lehman Brothers            80.52     +0.54

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

IDIX    Idenix Pharmaceuticals     17.35     +1.15
PLAB    Photronics                 19.19     +1.83
IDBE    ID Biomedical              14.59     +1.29
MTEX    Mannatech Inc              17.34     +1.04
TOPT    Top Tankers Inc            17.41     +2.02
SCUR    Secure Computing            9.20     +1.30

---------------------------------------
Breakout to Upside (Stocks over $20)
---------------------------------------
  
AVE     Aventis                    86.00     +1.18
MGG     MGM Mirage                 51.56     +1.01
MEDI    MedImmune                  25.78     +1.41
TK      Teekay Shipping            46.61     +2.41
BVN     Compania De Minas Buena    24.95     +2.11
CYTC    CYTYC Corp                 26.56     +1.33
TSO     Tesoro Petroleum           32.73     +2.56

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

DNA     Genentech                  51.13     -2.86
AIG     American Intl Group        66.50     -1.99
IACI    InterActiveCorp            20.79     -1.37
PHM     Pulte Homes                52.45     -3.88
CHIR    Chiron                     37.98     -7.44
RYAAY   Ryanair Holdings           28.07     -1.43
KBH     KB Home                    79.70     -1.19
HSIC    Henry Schein               59.64     -4.25
NATI    National Instruments       26.83     -4.36

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

BKS     Barnes & Noble             35.82     -0.94
ATW     Atwood Oceanics            47.85     -0.90


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