PremierInvestor.net Newsletter Tuesday 10-12-2004 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: Close, But Was It Close Enough? Watch List: Software to Hardware and more Market Sentiment: The Earnings Shuffle ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 10-12-2004 High Low Volume Adv/Dcl DJIA 10077.18 - 4.80 10102.33 10017.15 1.62 bln 1519/1703 NASDAQ 1925.17 - 3.60 1929.98 1904.11 1.52 bln 1312/1778 S&P 100 539.22 - 0.70 540.49 536.27 Totals 2821/3481 S&P 500 1121.84 - 2.55 1124.39 1115.77 SOX 386.36 - 5.20 391.53 380.17 RUS 2000 576.71 - 0.85 578.10 570.49 DJ TRANS 3338.98 + 2.80 3330.78 3296.09 VIX 15.05 + 0.34 15.69 14.91 VXO (VIX-O)15.17 + 0.18 16.10 14.87 VXN 20.93 + 0.88 21.77 20.71 Total Volume 3,440M Total UpVol 1,166M Total DnVol 2,204M Total Adv 3155 Total Dcl 4023 52wk Highs 170 52wk Lows 120 TRIN 1.76 NAZTRIN 0.51 PUT/CALL 1.00 ================================================================= =========== Market Wrap =========== Close, But Was It Close Enough? by Jim Brown Intel and Yahoo announced earnings after the bell and both were close to analyst's estimates. The question is were they close enough? Were they good enough to pull the markets back from the brink of disaster or did they lack enough excitement keep them from going over the cliff? Dow Chart Nasdaq Chart The morning opened with a flurry of earnings warnings and earnings from a couple of heavy weights. JNJ beat the street this morning by +2 cents at 78 cents for the quarter. JNJ saw strong sales in multiple divisions both locally and globally. Revenue rose +10.5% for the quarter and they raised their estimates for Q4. This was much needed good news for the drug industry and consumer products. They did say they saw slower growth for 2005. Merrill Lynch posted earnings that beat the street but were down from last years levels. The company said slow trading volumes contributed to the revenue decline but overall performance was very strong given the market conditions. Merrill jumped +1.48 on the news. Those two earnings releases did a lot to offset the damage done by a SEMI report saying global chip sales had fallen -29% in August on a month over month basis. Chip sales in China fell -51%, North America -31%, Japan -20%. This knocked about -10 points off the SOX at the open and cratered the tech sector. Warnings from HLIT and a SEC inquiry at AMKR also pressured chips. PHG said sales would be flat sequentially and they were also seeing price erosion for consumer electronics chips. SB downgraded SNDK to a sell citing weakening pricing and slowing manufacturing benefits. They spoke positive about FLSH in the same report. Greasing the slide was a sharp spike in oil to new highs at $54.45 before the open and once over $54 the equity market imploded. This appeared to be the point where even the strongest bulls lost their appetite for stocks. Oil was up on strikes/fires in Nigeria and a 55,000 MBpd loss of production from Norway. Bulls got a reprieve late in the day when oil suddenly fell out of sight to trade on Globex at a $52.14 low. This was -2.31 off the highs on no real news. Analysts theorized that the $54 level was simply too much for those already long to pass up and profits were taken. This same thing happened when we neared $50 the first time. We are also only three weeks away from the election and the calendar is ticking down on any risk for terrorists to impact prices before the election. When oil began its sharp drop the equity markets began a bullish run that took the Dow and Nasdaq back to positive territory. Fear of Intel and Yahoo earnings produced some profit taking prior to the close and we ended level for the day in everything but the SOX. After the bell Intel announced earnings that missed estimates by a penny but said the right things in the earnings release to send their stock higher. They earned 30 cents per share but 3.6 cents was due to a tax item and not operating earnings. Their gross margins fell to 55.7% and well below estimates of 58%. The reason for the drop was discounting to get rid of inventory and a product mix slanted to lower margins. Intel rose in after hours trading despite the miss and some cautious comments about the 4Q. They are targeting 4Q margins at 56% which is still below analysts estimates. They targeted revenue at $8.6B-$9.2B and the consensus was for $9.1B. On the conference call Andy Bryant said there was too much inventory still in the system and seasonal 4Q demand was softer than expected but they were making progress. Considering the negative expectations for Intel the fact they missed earnings slightly and guidance was only "soft" represented a positive surprise. INTC traded up +70 cents in after hours. The real question is how will it trade tomorrow? Was the soft guidance good enough to provide a continued bounce when real volume hits the tape? Yahoo actually posted better earnings even though they only matched street estimates at nine cents. They did exceed revenue estimates of $644 million with a spike to $655 million. Advertising revenue was up +10% over Q2 and Q2 was up +9.2% over Q1. They gave guidance for Q4 for $710-$760 million that straddled analysts estimates of $730 million. They also raised full year estimates slightly. YHOO only rose +50 cents in after hours and represents expectations already priced into the stock. The real impact could be to Google which rose +$2 in after hours in advance of their earnings on Thursday of next week. Google will be expected to match or beat Yahoo's performance and guidance or face the wrath of traders. On Monday American Technology Research downgraded GOOG to a SELL citing concerns about valuation and competition. Last week Jeffries also downgraded Google citing excessive valuations. ATR went so far as to suggest shorting Google at this level. However, Google got to this level over the bodies of bleeding bears so caution is definitely the key. I expect we will see further GOOG spikes on Wednesday as shorts cover on fears they will post better results than Yahoo. The economics for the day were evenly mixed with the Richmond Fed Survey moving +4 points higher and the Kansas Fed Survey dropping -2 points. The Richmond Fed rose inexplicably after New Orders fell to 8 from 13, Order Backlog to -6 from +1 and the Six Month Outlook to 23 from 28. The only major component to rise was Shipments from 18 to 22. Employment did return to positive territory but remained soft. The Kansas Fed Survey showed only a small drop in the headline number and that was repeated in the majority of the components. Again employment rose slightly and New Orders fell. Oil prices may have fallen but commodities in general continue to rise. This will continue to be a sore topic for months to come regardless of what happens to oil. The Goldman Sachs Commodity Index has risen over +103% in the last 33 months. According to one analyst a gain of more than 55% in any 30 month period has NEVER failed to produce a recession. CNBC ran a sequence of screens several times on Tuesday showing price rises in various common products like butter +50%, turkeys +38%, etc over the last year. Feedstocks are soaring and that is pushing up the cost of food across the board. Storm damage has wiped out most of the orange, grapefruit and peanut crops in the south and prices for those items and products made with those items are going even higher. Peanuts are a major staple ingredient for many products including candy, baked goods, peanut oil for frying and cooking, etc. This just a random sample but other sectors with soaring prices include building materials. The hurricane damage is expected to suck up a six month supply of building supplies like plywood, sheetrock, shingles, insulation, etc. This will raise prices for home construction across the country as supply as demand equalizes. Add in oil prices that suddenly seem cheap at $52 overnight today and the economy has a tough road ahead. I relate that paragraph above because just having Yahoo serve up +10% more ads and Intel happy about only "soft" 4Q demand is not going to send the bulls roaring back into the market for long. We may get a bounce on Wednesday but we are going to need a stronger showing of major firms with positive earnings and guidance to convince the herd. We are three weeks away from the election and the candidates are still dead even going into the last debate on Wednesday. The election is up for grabs and the market does not know which way to jump. The next round of earnings continues tomorrow with the emphasis on chips and technology. ASML, AAPL, LRCX, NTOP, NVLS, QLGC and SNDK report on Wednesday. On Thursday we get AOS, ABT, BAC, BBT, C, CY, ETN, ENDP, SSP, FITB, FDC, GM, HIB, KEY, KRI, LSTR, MRCY, MTG, NCC, NOK, BTU, PII, RDC, LUV, SVU, TRAD, UIS, UNH, WGO, CNET, CREE, FCS, JNPR, LEXR, NFLX, NMSS, RMBS, SYK, SUNW. There are some well known companies in that list but we are lacking the big name market movers like IBM, MSFT, MMM, etc. The rest of this week has a lot of smoke but the next real wave of market movers does not come until next week. Intel may have relieved some pressure from the tech sector but the small fry above could sour that picture once again. The rebound on the Dow today lifted the index away from breakdown risk at the 10000 level but we are still a long way from breaking last weeks 10250 resistance. The 10100 level has been initial resistance for three days and based on the futures overnight we should retest that again at the open. If a higher move is successful that puts us right back into the middle of our congestion range while we wait for the earnings generals next week. The Nasdaq is already in the middle of the recent range at 1930 and has +40 points of upside potential before hitting the strong 1965 resistance level. The overnight Nasdaq futures are showing a +10 point gain and again that leaves us right in the middle of our recent range. The current setup suggests the rest of the week may not see a breakout in either direction. We could be left to suffer slow torture as dozens of small companies with mixed results push the markets around like a rowboat on a stormy lake. Lots of chop but no real direction. To make matters worse this is option expiration week and we have yet to see any real option related moves. With the Intel and Yahoo volatility added to Wednesday trading that expiration volatility could appear at the open. If there were any institutions betting on a major Intel miss then they could be squeezed at the open and that could give us the last major move for the week. Thursday and Friday are not expected to be directional. Bottom line for me is look both ways before stepping off the curb tomorrow but expect traffic to slow by the end of the week. 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 --------------------------------- BEA Systems - BEAS - close: 7.37 change: +0.00 WHAT TO WATCH: There may not be much to watch here in BEAS. The stock looks like a bullish candidate now. Shares of the software maker has been climbing in a rising channel since mid-August. If you use a regression tool it's very easy to see. Today's bounce from the $7.00 level is also a perfect bounce from the bottom of the rising channel (and its simple 40-dma). Traders can use the move as a bullish entry point. More conservative types may want a little more confirmation with a move over $7.45. The $8.00 and $8.25 levels mark potential profit targets. Earnings are not expected until November. --- Loews Carolina - CG - close: 25.59 change: +1.03 WHAT TO WATCH: Shares of CG surged more than 4 percent on volume that was almost three times the average to breakout over major resistance at $25.00 and its simple 200-dma. We can't find any stock-specific news to account for the rally. Larger rivals MO and RAI traded in a narrow range today. Aggressive traders may want to use this move as a bullish entry point. The rest of us may need to do some more research. --- Yum! Brands - YUM - close: 42.02 change: +0.67 WHAT TO WATCH: Fast-food franchise titan YUM is on the move again. A week ago we noted the breakout over resistance at $41.00. Since then the stock has consolidated sideways but today's rebound from the $41 level as support looks like a bullish entry point. The P&F chart is extremely bullish with a $74 target, which is a little too lofty for us. We would target more conservative 5 percent to 10 percent gains from here. --- Apple Computer - AAPL - close: 38.29 change: -0.30 WHAT TO WATCH: Keep an eye on AAPL tomorrow. The iPod maker is due to report earnings and Wall Street is looking for 18 cents a share. There were some cautious comments this morning asking if AAPL was worth $40 a share but traders stepped in to buy the dip this morning. The company is getting some new competition for its mini iPod today but rumors are circulating that AAPL will unveil a new larger 60-gig iPod with a color screen before Christmas. ----------------------------------- RADAR SCREEN - more stocks to watch ----------------------------------- DISH $33.49 +0.32 - DISH was on the watch list yesterday with its breakout over $33 and its simple 200-dma. Today's shows a nice bounce and another new five-month high. LVLT $3.30 +0.32 - Whoa! LVLT just added another 10.7 percent on huge volume today. PLMD $32.73 +1.02 - PLMD just broke out over resistance at $32.00 to hit new all-time highs on rising volume. =============================== Market Sentiment =============================== The Earnings Shuffle - J. Brown If you just look at the closing numbers then Tuesday turned out to be a non-event. However, you would be missing the excitement of the long slow climb back toward breakeven today. I'm being sarcastic. The major indices were just shy of break even and the climb was anything but exciting. Volume has been relatively low the past two sessions. Most investors were sitting on the sidelines waiting for this afternoon's earnings announcements. Throughout the session oil remained the focus, not earnings. November oil futures hit $54 a barrel before declining to $52.50. The pull back was probably the only thing giving stocks a boost today. Overall the markets were mixed with a negative bias. Internals showed 5 losers for every 4 winners on the NYSE and 17 decliners for every 12 winners on the NASDAQ. Down volume was almost twice as strong as up volume on the NYSE and about a third better on the NASDAQ. It was interesting to hear of SG Cowen's note to clients to avoid semiconductor stocks just hours before Intel reported earnings after the close. Intel missed the estimate by a penny but investors seem to be interpreting the call as bullish with higher revenues and lower inventories. Meanwhile YHOO's earnings were inline but sales were strong and the company gave a bullish bias towards the fourth quarter. Now the question is whether any of this positive spin will still be around tomorrow to influence technology shares on Wednesday. Tomorrow's big events are as follows. Wall Street will be interested to hear the latest crude oil and gasoline inventory numbers. Major earnings on Wednesday include AAPL, ASML, HDI, LRCX, NVLS, QLGC, and SNDK but none of them are real market movers. Wednesday night will be the third and final presidential debate but most pundits expect the two candidates to merely play to their base of core voters. I would keep an eye on some of the technology stocks. Looking at the sector specific indices (GHA.X, GSO.X, SOX.X, etc.) they've all painted a decent bounce from today's lows that could see some follow through tomorrow. Meanwhile the OIX oil index has turned south and broken through the bottom of its narrow rising channel. The OSX oil services index did the same yesterday and is seeing some additional profit taking today. Don't be surprised to see more selling tomorrow as traders rush to lock in gains in these overbought sectors. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 9230 Current : 10077 Moving Averages: (Simple) 10-dma: 10138 50-dma: 10120 200-dma: 10294 S&P 500 ($SPX) 52-week High: 1163 52-week Low : 990 Current : 1121 Moving Averages: (Simple) 10-dma: 1127 50-dma: 1107 200-dma: 1119 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1301 Current : 1435 Moving Averages: (Simple) 10-dma: 1443 50-dma: 1390 200-dma: 1441 ----------------------------------------------------------------- CBOE Market Volatility Index (VIX) = 15.05 +0.34 CBOE Mkt Volatility old VIX (VXO) = 15.17 +0.18 Nasdaq Volatility Index (VXN) = 20.93 +0.88 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 1.00 773,793 773,814 Equity Only 0.90 569,940 512,918 OEX 1.13 36,034 40,651 QQQ 2.65 50,568 133,835 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 65.7 - 0.25 Bear Correction NASDAQ-100 45.0 - 0 Bull Alert Dow Indust. 56.6 + 0 Bear Correction S&P 500 64.2 - 0 Bear Correction S&P 100 61.0 - 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: 1.31 10-dma: 0.99 21-dma: 1.11 55-dma: 1.13 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 1281 1273 Decliners 1521 1717 New Highs 82 70 New Lows 27 34 Up Volume 526M 605M Down Vol. 1070M 856M Total Vol. 1613M 1503M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 10/05/04 Weekly COT report discloses positions held by small specs and commercial traders of index futures contracts at the Chicago Mercantile Exchange and Chicago Board of Trade. COT data can be found at www.cftc.gov. Small specs are the general trading public with commercials being financial institutions. Commercials are historically on the correct side of future trend changes while small specs tend to be wrong. S&P 500 Commercial traders aren't making any big bets ahead of the Q3 earnings season. Longs and shorts have moved closer to parity and the bearish sentiment is at it lowest level in four weeks. Small traders are upping both their longs and their shorts but their bullish bias is waning a bit. Commercials Long Short Net % Of OI 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%) 10/05/04 421,217 435,736 (14,519) (1.7%) 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 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% 10/05/04 137,210 114,489 22,721 9.0% 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 positions in both longs and shorts but clearly remain net bearish. In contrast the small traders have raised their positions in longs and shorts and remain staunchly net bullish. Commercials Long Short Net % Of OI 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%) 10/05/04 248,190 476,608 (228,418) (31.5%) Most bearish reading of the year: (354,835) - 06/17/03 Most bullish reading of the year: 133,299 - 09/02/03 Small Traders Long Short Net % of OI 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% 10/05/04 308,021 80,373 227,648 58.6% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 We are not seeing a lot of movement in commercials' positions so they remain net bullish on the NDX. Meanwhile small traders are raising positions in both longs and shorts but shorts saw a big jump creating a large bearish bias by small traders. This is of course a bullish contrarian indicator. Commercials Long Short Net % of OI 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% 10/05/04 55,640 32,872 22,768 25.7% 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 09/14/04 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%) 10/05/04 12,254 30,693 (18,439) (42.9%) 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 Investors both big and small seem rather undecided about how to bet on the Industrials. The gap between longs and shorts continue to narrow, especially between small traders where it's a dead-even. This is the least bullish commercials have been in weeks while it's the least bearish small traders have been in weeks. Commercials Long Short Net % of OI 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% 10/05/04 27,498 25,772 1,726 3.2% 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 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%) 10/05/04 5,531 5,539 ( 8) ( 0.0%) 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 Tuesday 10-12-2004 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: None Active Trader (Non-tech Stocks) Closed Bullish Plays: STN 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 ================================================================== None ================================================================== Active Trader (AT) Non-Tech Stock section ================================================================== ============ Closed Plays ============ Closed Bullish Plays -------------------- Station Casinos - STN - close: 47.58 change: +0.20 stop: 48.49 An upgrade in the form of a higher price target on Monday was not enough to staunch the selling yesterday. STN broke down under minor support at the $48.00 level on above average volume. We've been waiting for several days to see STN breakout over the $51.00 level and it doesn't look like that's going to occur any time soon. Therefore we are closing this play unopened. Picked on October xx at $xx.xx <-- see TRIGGER Gain since picked: + 0.00 Earnings Date 10/19/04 (unconfirmed) Average Daily Volume: 469 thousand ================================================================== 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 MER Merrill Lynch 52.48 +1.48 LEH Lehman Brothers 81.41 +0.67 GD General Dynamics 101.40 +1.33 YUM Yum! Brands 42.02 +0.67 MTB M&T Bank 101.70 +1.87 AEE Ameren Corp 47.00 +0.56 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- CREO Creo Inc 11.15 +2.38 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- INFY Infosys Technologies 58.89 +2.84 ADBE Adobe Systems 52.01 +1.07 CTSH Cognizant Tech 32.27 +1.48 SAY Satyam Computer Svc 27.02 +1.68 HSC Harsco Corp 48.84 +1.17 CG Carolina Group 25.59 +1.03 NTES Netease.com 42.43 +1.43 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- LLY Eli Lilly Co 57.15 -1.85 FDC First Data Corp 40.97 -1.84 STT State Street Corp 41.16 -2.69 APOL Apollo Group 68.06 -1.22 VMC Vulcan Materials 48.79 -2.14 FRO Frontline Ltd (ADR) 48.61 -3.81 FAST Fastenal 51.60 -6.29 MLM Martin Marietta Materials 44.74 -1.13 OSK Oshkosh Truck Corp 54.45 -3.09 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ----------------------------------------- NXY Nexen Inc 44.51 -1.05 TDS Telephone Data Sys 82.31 -1.17 CCJ Cameco Corp 81.07 -2.62 GMR General Maritime 36.05 -1.96 WCC Wesco Intl Inc 23.58 -1.77 SU Suncor Energy 33.25 -0.77 PD Phelps Dodge 91.74 -1.51 ================================================================= 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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