PremierInvestor.net Newsletter Tuesday 10-19-2004 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: Halloween Coming Early? Watch List: Internets to Steel stocks and more! Market Sentiment: Divided Focus ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 10-19-2004 High Low Volume Adv/Dcl DJIA 9897.62 - 58.70 10020.55 9894.89 2.16 bln 1124/2079 NASDAQ 1922.90 - 13.60 1952.85 1922.60 1.72 bln 1236/1887 S&P 100 530.99 - 4.19 538.10 530.93 Totals 2360/3966 S&P 500 1103.23 - 10.79 1118.03 1103.15 SOX 388.00 + 3.94 395.63 384.35 RUS 2000 566.67 - 5.36 576.63 566.49 DJ TRANS 3345.34 - 37.34 3392.76 3345.25 VIX 15.13 + 0.42 16.32 14.32 VXO (VIX-O)15.63 + 0.94 15.64 14.46 VXN 20.84 + 0.12 20.89 20.10 Total Volume 4,229M Total UpVol 1,410M Total DnVol 2,750M Total Adv 2723 Total Dcl 4484 52wk Highs 241 52wk Lows 170 TRIN 1.45 NAZTRIN 1.20 PUT/CALL 0.95 ================================================================= =========== Market Wrap =========== Halloween Coming Early? by Jim Brown The markets may be warning us that Halloween is coming early this year. The markets gave back an early bounce to sink back to critical support and there were no bulls in sight at the close. Dow support at 9900, Wilshire 5000 support at 10800 and SPX support at 1100 all appear to be in danger of failing. Could this be predicting an ugly October surprise? Dow Chart Nasdaq Chart SPX Chart Wilshire-5000 Chart Today was not a good day for economics. The weekly Chain Store Sales fell -0.2% after two weeks of gains. This is not a big drop but shows retail simply can't maintain a positive trend. Debt burdens are nearing record levels and gas prices over $2.00 are cutting into budgets. Not anything we did not already know. Worse news came in the form of the Consumer Price Index which rose +0.2%. If you don't use food or energy the core rate rose +0.3%. These levels would have been much worse but there was actually a -0.4% decline in energy prices during the survey period. This held the headline numbers down but as we all know the small drop in energy prices did not last. The core inflation rate is now at +2.0% for the year and at levels not seen since Oct-2002. Once the rebound in energy prices filter back through the market this will be even higher. This could force the Fed to continue the rate hikes despite a cooling of the economy. New Residential Construction fell to 1.898 million from 2.02 million in August. Starts fell -6% and it was the largest decline since January and they are well below their 12-month average. Multifamily units continue to buck the trend but single family homes are suffering. There could be some benefit underway in the South for hurricane recovery but it is still too early to tell. With long-term rates stabilizing we could see a level housing market for the near future. Permits suggest we have reached a support level where demand could be stable as long as jobs continue to hold. The ten-year yield closed today at 4.04% and bonds could continue to find buyers in a weak equity market. The challenge remains the job market and the Challenger Survey announced on Monday showed 54,701 high tech jobs were lost in Q3. This was up +60% from Q2 and +14% from the same period last year. Challenger said tech companies have no pricing power and they are having to sell for lower margins just to keep market share. After three years of cost cutting the only avenue left to reduce costs is to reduce jobs. Challenger said IBM and BearingPoint are hiring in the U.S. but are becoming increasingly picky about who they hire. Service and consulting businesses like IBM are seeing their backlog increase but tech manufacturing accounted for 56% of the Q3 job losses. IBM roared out of the gate this morning with a +3.50 gain to trade over $89 and contrary to the market did manage to hold those gains. IBM reported profits on Monday night that beat the street and were surprisingly good. Emerging markets such as Brazil, China, India and Russia grew by more than +30% with American revenue up only +8%. IBM said it had more than $110 billion in back orders. Profits for the quarter were $2 billion. Not bad for a blue chip tech that was known for earnings warning fears just a few quarters ago. Texas Instruments also beat the street and jumped +1.50 on the news. The TXN gains were not so spectacular and came in part due to late quarter sales that boosted the prior two months of weak results. This and several other chip stocks helped push the SOX to resistance highs at 395 that were tested last Wednesday after the Intel earnings. Those highs did not hold then and they did not hold again today. The SOX did close in positive territory but well off its highs. It was not techs or software or even Internet stocks that captured the spotlight today. It was the warlock of Wall Street in the person of Elliott Spitzer making headlines once again. The regulatory gargoyle jumped from sector to sector as not only insurance companies like MMC, CB and AOC took the heat but subpoenas spread out to AET, CI, WLP and ATH with monster losses the rule for the day. ATH -7.30, AET -11.57, CI -6.85 and WLP -11.30. The size of the losses and the widening scope of the witch hunt put fear into investors and every sector even remotely related saw selling. Financial stocks suffered because they were not only grouped into the same indexes being dumped but due to fears the carnage would impact current loans and relationships with the banking community. Somebody needs to put a leash on this wild man or maybe use a wooden stake to prevent Count Spitzer from sucking the lifeblood from any new victims. The markets sank from the open and never found a bid. Support levels were not broken sharply they just eroded away with slow steady selling pressure. Although volume on the NYSE was higher than recent levels at 2.16B shares there was not a serious imbalance. Decliners beat the advancers by slightly more than 2:1 and given the hit to three letter insurance stocks listed above this was not unreasonable. There were just very few buyers. The Dow retreated to 9900 at the close and while that is/was strong support the action at the close suggested it may not hold tomorrow. This is the third retest in the last four days and the odds are good this one will not hold. The August low was 9783 and this could be the next target. One analyst is suggesting we could go all the way to 9500 and the bottom of the downtrend channel. The Nasdaq is refusing to crack and holding above 1925 most of the day. The Nasdaq tried to hold the high ground at 1950 but failed and pulled back to the middle of its recent congestion range running from 1900-1950. This divergence from the blue chips has more to do with the insurance implosion than a tech rally. The IBM/TXN earnings helped techs but swimming upstream in a down market is a tough task. Tonight's earnings were a mixed bag with companies beating estimates disappointing on guidance and those that did not disappoint on guidance found some other reason to trade lower. MOT, PLT, STK, STX, CYMI, MNST and SIMG were some of the stocks beating estimates after the close. MOT, CYMI, MNST, SIMG all traded down along with ERTS which missed estimates. Very late after the market closed Teradyne, a maker of semiconductor testing equipment, posted a serious warning. TER posted earnings of +0.21 cents but warned that Q4 earnings would drop to only +0.04 cents due to customers significantly slashing orders compared to Q3. They said there was a significant reduction in capital spending as chip makers tried to deal with snowballing inventory levels. Revenue for Q3 was $457.8 million and current Q4 orders are only $284 million. At the same time FSL, Freescale Semi, a recent spin off from Motorola said they were laying off -1000 workers and expected orders to decline through Q4. The negative earnings and guidance from multiple companies after the close sent the futures plunging to below 1100 on the S&P and buyers were just beginning to nibble at 8:PM. Will they return to positive territory by morning? Will it matter? With today's negative session and the nights earnings events you would expect Wednesday to be less than exciting for the bulls. The key for traders is not likely to be the chip woes but the ailing financial sector. Eventually the fear will wear off and investors will tip toe back into the water but they may want to cling to the safety of the bank for a few more days. Spitzer needs to be sighted targeting somebody else before they will feel safe entering the sector again. Since banks are grouped with insurance companies in various funds the financial sector may remain weak. Citibank said after the close three top officials are leaving due to the Japan scandal and Fannie Mae reported the SEC inquiry had turned negative with a formal attack now underway. This sent FNM plunging in late trading. Negative chip earnings, weak financials, an election tie and a calendar month known for volatility. Sure sounds like a recipe for disaster. Helping to lubricate the selling was a firming in oil to near $54 once again and money moving from equities to bonds. While myself and many others were expecting an election rebound to begin this week I believe that potential is quickly eroding. If the Dow trades down to 9800 tomorrow it should be our most likely spot to launch a rebound. Should that level fail the sentiment could turn much uglier and the next stop could be that 9500 I mentioned earlier. Wednesday will clearly be a battle between the technical traders and market sentiment. Should they end up on the same side the outcome could be dangerous. There are no material economic events in the morning but we will get oil and gas inventories at 10:30. A drop in inventories could breathe new life in the lagging oil prices. Earnings before the bell include AMR, BK, CL, CFC, DCN, DAL, EK, FLIR, GD, GENZ, HET, HON, JPM, NITE, LIN, LU, MGG, NTRS, ODP, PFE, SWFT, UTX, WYE. Three of those are components in the Dow and misses could be painful to the market. The airlines are expected to show large losses and the transports should react to their guidance. Look for a bounce at 9800 should we trade that low but enter carefully. Given the weak market breadth and sentiment I would be careful about rushing back into the water too soon or you may end up swimming with the fishes rather than surfing the waves. 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 --------------------------------- Overstock.com - OSTK - close: 45.57 change: +4.58 WHAT TO WATCH: OSTK soared more than 11 percent today on what looks like record volume after the stock was upgraded to "market perform". It seems like shares overreacted a bit but OSTK has relatively high short-interest at 36 percent of the float, which is only 10 million shares. The stock was already trading near new all-time highs and it certainly notched another one today. We want to watch and see how investors respond to OSTK's earnings report that is due out this Thursday. Currently the P&F chart is very bullish with a $59 target. Chart= --- American Pharma. Partners - APPX - close: 22.40 change: -2.40 WHAT TO WATCH: Some may call APPX part of the nanotechnology industry, others just a biotech stock. Whatever you call it right now we're likely to use the term loser. The stock has lost more than half its marketshare since April. The recent consolidation near round-number support at $25 has failed into another high-volume breakdown today. Furthermore APPX has slipped past possible support at the $22.50-22.65 region dating back to October 2003. Now the next level of support appears to be the $20 mark. The P&F chart is more bearish with a $12 target. Watch to see how investors react to APPX's earnings on Thursday, Oct. 21st. Chart= --- Nucor Corp - NUE - close: 39.45 change: -4.35 WHAT TO WATCH: Ouch! NUE lost 9.9 percent on Tuesday with volume way above the norm. One of NUE's rivals in the steel industry (STLD) beat estimates today but gave concern over a weaker forecast going forward. The news impacted the entire sector. NUE was already suffering from the previous sell-off and a potential exit from the stock-split momentum crowd. We think the stock is short-term oversold and due for a bounce but it may not occur until after NUE's earnings report on Thursday. Watch to see where it lands. Chart= ----------------------------------- RADAR SCREEN - more stocks to watch ----------------------------------- IACI $20.25 -0.22 - Internet empire builder IACI is still sinking under a trend of lower highs and lower lows. Watch the $20 mark. NOC $50.18 -0.45 - Defense giant NOC is starting to look tired as the three-week sell-off approaches support at the $50 mark. IST $25.75 -2.92 - IST is another steel stock that was caught up in the sell-off today. Watch support at the $25 level. PETM $30.53 +0.17 - PETM is still looking bullish to us but the stock is struggling to maintain upward momentum in this market. VCP $31.99 -1.47 - Look out below! VCP broke both its simple 200-dma and exponential 200-dma as well as support near $33 with today's decline. Volume was very strong. =============================== Market Sentiment =============================== Divided Focus - J. Brown Investors have a lot on their minds these days. Normally investors would turn a white-hot spotlight on corporate earnings. They remain center stage today, especially as Wall Street ponders future earnings growth and just how fast or how slow earnings will grow in the fourth quarter and beyond. Unfortunately, record high oil prices continue to upstage the Q3 earnings performance. Yes, crude has slipped two days in a row now (whoa! is that a trend?) but oil remains near its highs. Plus, the markets and individual investors are starting to grow more concerned about the rise in heating oil. That's especially true now that winter's chill is not that far away. If you read most of the financial media tonight they'll probably suggest to you that tech stocks turned in a decent day. That may be true for the likes of IBM and TXN who soared higher after beating earnings estimates. Whether these two stocks gained on short-covering or investors breathing a sigh of relief that things were not worse than expected is up for grabs. The bears will have to concede that the earnings numbers were indeed positive. Unfortunately the NASDAQ Composite closed in the red and the SOX semiconductor index was the only major tech index to close in the green. Overall market internals were negative today. Declining stocks outnumbered advancers by 2-to-1 on the NYSE and 18-to-11 on the NASDAQ. Down volume was 2.5 times up volume on the NYSE and with a heavy volume day overall for the Big Board. So far we're seeing stocks affected by the age-old tradition of "sell the news". If earnings are inline or just slightly better than expected investors are still hitting the sell button - at least short-term. Speaking of earnings we're going to see a huge number of earnings on Wednesday and Thursday this week. Tomorrow alone brings reports from Dow-components HON, JPM and UTX. Plus, we'll hear from the likes of AMGN, COF, CHIR, DAL, and EBAY. Overshadowing both the earnings numbers and the rise in oil is probably the upcoming election. Many feel that stocks are likely to churn sideways in choppy fashion between here and November 2nd. That's not a surprise given the incredible cacophony being generated by both sides. Whether you think it's a good thing or a bad thing so far the media appears to be focusing on just the election itself and not the terror threat it was acknowledged to be just a few weeks ago. Yup, investors definitely have a lot on their minds right now. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 9497 Current : 9897 Moving Averages: (Simple) 10-dma: 10026 50-dma: 10116 200-dma: 10282 S&P 500 ($SPX) 52-week High: 1163 52-week Low : 1018 Current : 1103 Moving Averages: (Simple) 10-dma: 1118 50-dma: 1109 200-dma: 1119 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1301 Current : 1443 Moving Averages: (Simple) 10-dma: 1442 50-dma: 1399 200-dma: 1440 ----------------------------------------------------------------- CBOE Market Volatility Index (VIX) = 15.13 +0.42 CBOE Mkt Volatility old VIX (VXO) = 15.63 +0.94 Nasdaq Volatility Index (VXN) = 20.84 +0.12 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.95 856,237 810,611 Equity Only 0.87 728,489 633,400 OEX 1.39 15,123 21,170 QQQ 5.38 30,026 161,746 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 63.1 - 1 Bear Correction NASDAQ-100 47.0 + 3 Bull Alert Dow Indust. 53.3 - 0 Bear Confirmed S&P 500 61.4 - 0.8 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: 1.06 10-dma: 1.18 21-dma: 1.11 55-dma: 1.15 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 929 1169 Decliners 1874 1845 New Highs 58 52 New Lows 55 48 Up Volume 571M 731M Down Vol. 1531M 942M Total Vol. 2150M 1689M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 10/12/04 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 continue to hedge their bets on the large S&P contracts as longs and shorts move closer to parity. Small traders didn't move much money either but remain net bullish. Commercials Long Short Net % Of OI 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%) 10/12/04 423,472 436,780 (13,308) (1.5%) 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 09/21/04 134,943 108,036 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% 10/12/04 139,175 113,903 25,272 9.9% 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 Uh-oh! This could spell trouble for stocks. Commecials, who are normally on the "right" side of the trade are upping their short positions. Meanwhile, small traders decreased their short positions leaving them strongly net bullish. This alone is a contrarian indicator for a market top. Just remember that these readings were taken before the Wednesday-Thursday sell-off this past week. Commercials Long Short Net % Of OI 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%) 10/12/04 258,457 517,805 (259,348) (33.4%) 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 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% 10/12/04 309,720 62,502 247,218 66.4% 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 aren't changing their bets. They remain net bullish on the NDX. Small trades have significantly reduced positions in both longs and shorts but remain strongly net bearish, which of course is bullish for the NDX if you're a contrarian. Commercials Long Short Net % of OI 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% 10/12/04 52,572 32,775 19,797 23.2% 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 09/21/04 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%) 10/12/04 8,756 24,400 (15,644) (47.2%) 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 both long and short positions but remained net bullish. In contrast small traders significantly increased both their longs and their shorts on the Dow Industrials but in essence remain rather neutral. Commercials Long Short Net % of OI 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% 10/12/04 24,150 22,849 1,301 2.7% 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 09/21/04 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%) 10/12/04 8,814 9,167 ( 353) ( 1.9%) 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 remove@PremierInvestor.net ================================================================= 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 advertising@PremierInvestor.net. ***************************************************************** Copyright ) 2004 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
PremierInvestor.net Newsletter Tuesday 10-19-2004 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 ================================================================= In section two: Stop Loss Adjustments: None Net Bulls (Tech Stocks) Closed Bullish Plays: MACR Stock Splits Announcements: ANNB 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 ================================================================== Net Bulls (NB) Tech Stock section ================================================================== ============ Closed Plays ============ Closed Bullish Plays -------------------- Macromedia - MACR - close: 23.89 change: +0.82 stop: 21.40 MACR continues it pre-earnings rally and broke out above resistance at the $23.00 mark on Tuesday. Today's 3.55 percent climb was fueled by stronger than average volume, which is good news for the bulls. However, per our previous instructions not only are we closing MACR ahead of its Wednesday morning earnings report but MACR traded up and through our initial profit target at $23.50, where we had planned to exit. Wall Street will be looking for earnings of 20 cents per share tomorrow. Picked on October 03 at $20.85 Gain since picked: + 3.04 Earnings Date 10/20/04 (confirmed) Average Daily Volume: 867 thousand Chart = ================================================================== Stock Splits ================================================================== Announcements ------------- ANNB declares a 4-for-3 stock split This morning before the market's opening bell Annapolis Bancorp, Inc. (NASDAQ:ANNB) announced that its Board of Directors had approved a 4-for-3 stock split in the form of a stock dividend. This dividend will be payable on December 3rd, 2004 to shareholders on record as of November 5th. Fractional shares resulting from the split will not be issued. About the company: Annapolis Bancorp, Inc. is the parent company of BankAnnapolis, which serves the banking needs of small businesses, professional concerns, and individuals through six community banking offices located in Anne Arundel and Queen Anne's counties in Maryland. The company reported net income of $1,674,000 in 2003, up 36.4% from the prior year. Total assets at June 30, 2004 were $267.3 million. (source: company press release) ================== 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 IBM Intl Business Machines 89.43 +3.51 TGT Target Corp 48.51 +0.76 CSC Computer Sciences Corp 48.39 +0.55 AHC Amerada Hess 86.68 +0.69 BDK Black & Decker 79.36 +2.55 NSM National Semiconductor 15.98 +0.55 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- MICC Millicom Intl Cellular 19.74 +2.33 ATHR Atheros Communcations 10.71 +1.01 CAAS China Automotive Sys 13.45 +1.35 FRGO Fargo Electronics Inc 12.32 +1.31 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- PH Parker Hannafin 68.51 +5.10 SWK The Stanley Works 45.03 +4.01 STN Station Casinos 50.44 +2.27 CKFR Checkfree Corp 31.87 +3.09 JEF Jefferies Group 37.41 +3.41 CPO Corn Products Intl Inc 48.16 +1.26 KRON Kronos Inc 50.29 +2.86 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- UNH United Health Group Inc 68.30 -5.05 BSX Boston Scientific 35.44 -2.37 WLP Wellpoint Health Network 90.50 -7.80 CMX Caremark Rx Inc 28.98 -2.37 AET Aetna Inc 87.26 -10.48 CI Cigna Corp 60.65 -5.93 LNC Lincoln National Corp 42.06 -2.24 SAFC Safeco Corp 43.75 -2.00 NUE Nucor Corp 39.58 -4.22 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ----------------------------------------- AIT Applied Industrial Tech 34.41 -1.79 JAKK Jakks Pacific Inc 21.04 -3.11 UIC United Industrial Corp 31.35 -1.76 MDU MDU Resources Group 25.60 -0.97 ================================================================= To stop receiving this PremierInvestor.net Newsletter, send email to remove@PremierInvestor.net ================================================================= 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 advertising@PremierInvestor.net. ***************************************************************** Copyright (c) 2004 PremierInvestor.net. and The Premier Investor Network. Do not duplicate or redistribute in any form.
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