PremierInvestor.net Newsletter Tuesday 11-09-2004 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: Tension Mounting Watch List: A few Big Caps Market Sentiment: Fed Waiting ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 11-09-2004 High Low Volume Adv/Dcl DJIA 10386.37 - 4.90 10427.81 10368.59 1.83 bln 1812/1409 NASDAQ 2043.33 + 4.10 2049.77 2034.41 1.76 bln 1740/1372 S&P 100 556.90 - 0.40 559.45 556.06 Totals 3552/2781 S&P 500 1164.08 - 0.81 1168.97 1162.48 SOX 415.80 - 2.80 419.52 413.79 RUS 2000 606.64 + 4.56 607.00 601.27 DJ TRANS 3587.71 + 5.70 3599.37 3576.59 VIX 13.61 - 0.19 13.96 12.89 VXO (VIX-O)13.64 - 0.28 14.18 13.49 VXN 19.19 - 0.03 19.50 18.84 Total Volume 3,895M Total UpVol 1,854M Total DnVol 1,958M Total Adv 4023 Total Dcl 3189 52wk Highs 449 52wk Lows 63 TRIN 1.10 NAZTRIN 1.46 PUT/CALL 0.68 ================================================================= =========== Market Wrap =========== Tension Mounting by Jim Brown After three days of trading at the highs but seeing no forward motion there are quite a few traders beginning to worry that the bounce is failing. The Dow continues to spike over 10400 but cannot seem to hold the high ground. The SPX has posted three lower highs on its attempts to break 1168. Is this a breakout waiting to happen or a breakdown in progress? Dow Chart Nasdaq Chart Economically there were no reports to add to the high excitement from Friday's Jobs Report. The Job Opening and Labor Turnover Survey (JOLTS) showed no real change in hiring. However this report covered the September time frame and was trumped by the later period Jobs Report for October. However, because this jobs data comes from a different survey the lack of confirmation from JOLTS does cause some concern. This less positive picture showed an increase in separations that were not matched by increased hiring trends. The Richmond Fed Manufacturing Survey showed a slowing of manufacturing in the region to the slowest pace since July. At 14 the headline number still indicates growth but well below the 22 posted in September. The order backlog was -5 and only a minuscule improvement from the -6 in September. New orders at +3 fell from +8 to move very close to negative as well. Shipments fell to a three month low at 14 from a six month high of 22 in September. However, the six month outlook jumped to 35 from 21. Amazing that all the production indicators can fall substantially but the outlook was raised. There was no hiring in the region and the avg workweek fell. Wholesale Trade rose less than expected at +0.5% and well below the +0.9% from last month. Inventories also rose +0.5% and less than the +1.1% in August. This was the first time in five months that inventory expansion failed to keep pace with sales. Inventory to sales remains at 1.15 as it has for the last four months. The inventory component fell but is not expected to be a drag on GDP until 2005. There seems to be a common theme in the various reports that 2005 could be an economic challenge. While the economics were mixed to weak most investors were not focused on the boring reports. If anything they were focused on the FOMC meeting tomorrow and the lack of a breakout after such a great post election start. There is a 100% chance of a 25-point rate hike that will bump the rate to 2.0%. The outlook statement is more of a key than the rate hike unless they bump it up +50 points. Because of the strong jobs report there is some concern the Fed could raise the stakes with their statement or even vote for a 50 point hike tomorrow. Almost nobody expects more than 25 points but there is always the fear. The next meeting is on Dec-14th and there is an 81% chance of another hike to 2.25% at that meeting. There are two meetings in Q1-2005, Feb-1st and Mar-22nd. There is nearly a 100% chance of a hike in February and a 25% chance of a hike in March. If jobs remain strong that could put us back to 2.75% in March. Almost everyone expects the hikes to quit in 2.50-3.00% range and all eyes will be on the statement to see if this expectation has changed. The fear of the Fed in light of the blowout jobs report has put the bulls back in the corral. The major indexes all screeched to a stop at critical resistance and have failed to continue the monster bounce. In all fairness they have failed to sell off as well but worry is beginning to weigh on the indexes. SPX Chart – Daily SPX Chart – Weekly The most visible is the SPX which finally broke the 50% bear market retracement level at 1161. Unfortunately it came to a dead stop immediately after it crossed that level. Beginning on Friday the SPX has now tried three times to break through 1170 to no avail. There have been two lower highs below 1170 but 1162.50 has held as solid support. Considering the very strong gains and the critical levels reached this is a very good sign. 1172-1176 was the resistance high for all of 2002 and this is very strong resistance. When taken together the 1160-1175 range is the highly visible line in the sand that must be crossed for the rally to continue and both sides know it. This would be the key level to predict a failure if a failure was in the cards. The Dow is facing a much smaller battle at 10400-10420 and compared to the last two months of Dow declines the Dow is doing a very good job of holding the high ground. The Dow has run nearly +700 points since the 9708 lows back on Oct-25th. +700 points in nine trading days is a very strong run that leads to very overbought conditions. Those conditions appear to have led to a consolidation in place instead of a profit taking dip. The Nasdaq is facing a task similar to the Dow at 2050. This is the resistance high from late April and June and while decent resistance it is not as critical as the SPX is currently facing. The Nasdaq is actually showing more of an uptrend over the last three days than the Dow/SPX. The Nasdaq is not being supported by the SOX with that index hovering in a flat line around 415 and not showing any indications of moving higher. No uptrend help there but 410 is strong support that should keep the Nasdaq from imploding. SOX Chart Russell Chart The Nasdaq is gaining significant uptrend support from the Russell. The Russell closed at an all time high today at 606.64. This is above the 2000 bull market highs and should be a clear sign the rally is still alive. This high was only a quarter of a point over the prior record so it is not a resounding breakout. Still it is a clear sign mutual funds are moving into the market while we wait on the Fed. TrimTabs.com said today that $2.4 billion came into U.S. equity funds for the first week in November. $1B flowed into global funds and a whopping $3.6 billion was added to exchange traded funds. The +$7B in new cash helped produce our post election rally and we are still seeing new cash flows hitting the small caps. At least it was today. After the bell Cisco reported earnings inline with estimates at +0.21 cents and said inventory problems were beginning to ease. This should have been good news but Cisco's outlook was less than exciting and revenue was slightly lighter than expected. Orders trailed shipments and Cisco said competition was growing. They said revenues would increase only +1% to +3% over last quarter but that was below current analyst estimates. Cisco only managed to report inline with estimates due to better than expected cost savings and continuing stock buybacks. Cisco said there was a growing impact by low cost Asian competitors. Despite the cautious comments and outlook Cisco still generated $1.5B in cash for the quarter and raised their cash account to $17.7 billion. That is nearly -$2 billion lower than last quarter due to the aggressive share buy back program. Margins are continuing to fall as a result of more sales in the lower priced products. The company cut orders to suppliers for Q4 by -$106 million because of their reduced outlook. Cisco also announced they were increasing their current share buyback program by $10 billion. They must really expect Q4 to be a strong challenge and need to drop the outstanding shares by a bunch. Most analysts and probably most investors would rather see them spend $10 billion on acquisitions that would grow them out of their rut. The current earnings cycle is nearly over with Dell and HPQ the only two major techs left to report. Dell reports on Thursday and HPQ reports next Tuesday. The running total for the 90% of the S&P that have reported is +15.1% earnings growth and +11.9% revenue growth. It the remaining 10% of the S&P reports inline the total for the quarter will be +16.7% earnings growth. Crude Oil Chart The Cisco earnings tonight tanked the futures but the dip was brief. They rebounded after Cisco said revenue could rise slightly and it appeared to be a case of expectations being worse than even the lukewarm results. This suggests we could have yet another mixed session at the open as we await the Fed statement at 2:15. Oil prices have imploded with a $47.17 print overnight and a nearly -$2 drop intraday. The falling oil prices should be helping equities but stocks could not break out of their range today. With Cisco behind us and the Fed almost a footnote we could see the bids begin to pick up again. I remain bullish on the market but fully aware we could see profit taking at any time. However, the last two days would have been prime opportunities for sellers to appear and they were conspicuously absent. I still advocate buying the dips and should a breakout over SPX 1170 appear I would not hesitate to go long there as well. The official target for the year-end is SPX 1250 but what happens if we get there early is still a guess. Mutual funds are very worried but it is not about the weak dollar, oil prices, trade deficit or rising interest rates. They are worried they will miss the rally and get beaten by somebody else in the great returns race. We are facing true performance anxiety and I believe that will provide the eventual end of year rally. I believe it is a breakout waiting to happen and funds will not allow us to breakdown. So far this year most funds are just barely positive and they need to collectively juice the tape to produce gains everyone can feel good about advertising. 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 --------------------------------- Microsoft Corp - MSFT - close: 29.77 change: +0.49 WHAT TO WATCH: One-day sales of close to $100 million for its new Halo 2 X-box game and news of its special cash dividend in December are driving MSFT higher. The stock has major resistance at the $30.00 mark and a breakout would be very bullish. If you prefer to buy a dip watch for a dip (and bounce) from the $29.00 level. The bullish P&F chart currently points to a $44 target. If we held MSFT through the end of this year our target would probably be the $34-35 range. --- General Electric - GE - close: 35.42 change: +0.30 WHAT TO WATCH: GE is another big cap on the move. In the past couple of weeks GE has broken through its 200-week moving average and price resistance in the $34.50-35.00 range. Now shares have very little resistance between here and the $40.00-41.50 region. Even so we would still watch for a dip. If GE can dip to the $34.50-34.75 area we'd buy the bounce and consider hanging on through the end of the year. --- Texas Instruments - TXN - close: 24.75 change: +0.01 WHAT TO WATCH: Semiconductor stocks have been consolidating sideways lately and TXN has been following the crowd. Actually shares of TXN have been challenging resistance at the $25.00 level and its simple 200-dma for the past several days. The stock looks like it's coiling for a bullish breakout. Aggressive traders may want to go long over $25.00. Conservative traders also need to watch out for resistance near $26.00 with its 200- week moving average. If TXN can pass $26 it could be able to run toward $30.00 or higher. --- Williams Cos - WMB - close: 13.57 change: +0.20 WHAT TO WATCH: Natural gas stock WMB continues to rally despite a four-day decline in natural gas prices. The bullish breakout over resistance at $13.00 for WMB looks like a momentum trader's entry point. Volume has been rising on the rally and that's a good sign for the bulls. Patient traders can probably wait for a dip back toward $13.00-13.15. The bullish P&F chart points to a $24 (long-term) target. We would target resistance at $15.00. ----------------------------------- RADAR SCREEN - more stocks to watch ----------------------------------- FRO $53.70 +0.70 - We mentioned FRO on Monday's watch list. The stock is still creeping higher but not yet over resistance at $54.00. CEC $40.00 +0.71 - This looks like an entry point for the bulls. The P&F chart points to $55. We would target $44-45. CAMD $9.24 +0.46 - For the second day in a row CAMD has risen strongly on big volume. This time shares broke through the $9.00 level and its exponential 200-dma. CRM $19.53 -0.87 - Salesforce.com has pulled back to its simple 21-dma. The stock has bounced from this technical support twice in the past couple of months and could do so again. DELL $37.43 -0.25 - DELL still looks bullish with the breakout over resistance at $37.00 but earnings are coming up on Nov. 11th. =============================== Market Sentiment =============================== Fed Waiting - J. Brown Given the previous week's gains it's no surprise to see stocks pause ahead of Wednesday's FOMC meeting on interest rates. Stocks got a chance to rest while investors wait for what is widely expected to be a 25 basis-point increase in interest rates to 2 percent. Despite the two-day stall in the bull run I would still look for a short-term dip before we move higher into any fourth quarter rally. The short-term sentiment indicators like the ARMS index or TRIN's moving averages remain in near bearish reversal levels as do the volatility indices. Fortunately, the longer-term bullish percent data that turned positive late last week remains positive today. The feeling on the street seems to be pretty positive especially for the fourth quarter. One analyst commented that the street had pushed back most of its worries into the summer of 2005. Looking ahead to tomorrow I don't expect a lot of trading ahead of the FOMC meeting and its decision on rates that normally hits early afternoon. Of course it's unclear how Wall Street will interpret the news that both Attorney General John Ashcroft and Commerce Secretary Don Evans both resigned from the President's cabinet, especially since the rumor mill had been expecting some resignations. Odds are this won't have much of an affect on stocks but the Cisco earnings news will. CSCO reported earnings that were in-line with analysts' estimates at 21 cents a share but the company missed the revenue and gross margin estimates. This is likely to have a negative affect on tech stocks, especially the networkers unless it looks like Nortel and Juniper are somehow taking market share. Considering the market's need to see some consolidation it may be a good thing that CSCO effectively "missed". There are a lot of investors waiting for a dip and CSCO's earnings could be the spark to ignite a decent round of profit taking. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 9585 Current : 10386 Moving Averages: (Simple) 10-dma: 10174 50-dma: 10124 200-dma: 10245 S&P 500 ($SPX) 52-week High: 1170 52-week Low : 1031 Current : 1164 Moving Averages: (Simple) 10-dma: 1144 50-dma: 1122 200-dma: 1119 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1301 Current : 1527 Moving Averages: (Simple) 10-dma: 1503 50-dma: 1438 200-dma: 1437 ----------------------------------------------------------------- CBOE Market Volatility Index (VIX) = 13.61 -0.19 CBOE Mkt Volatility old VIX (VXO) = 13.64 -0.28 Nasdaq Volatility Index (VXN) = 19.19 -0.03 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.68 878,274 596,088 Equity Only 0.53 756,787 401,731 OEX 1.18 24,943 29,628 QQQ 1.56 17,762 27,821 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 68.5 + 0.5 Bear Correction NASDAQ-100 63.0 + 1 Bull Confirmed Dow Indust. 60.0 + 0 Bear Correction S&P 500 69.2 + 0.8 Bull Confirmed S&P 100 69.0 + 0 Bull Confirmed Bullish percent measures the number of stocks in an index currently trading on a buy signal on their point and figure chart. Readings above 70 are considered overbought, and readings below 30 are considered oversold. Bull Confirmed - Aggressively long Bull Alert - Cautiously long Bull Correction - Pause or pullback in upward trend Bear Alert - Take defensive action if long Bear Confirmed - High risk if long, good conditions for shorting Bear Correction - Pause or rebound in downtrend ----------------------------------------------------------------- 5-dma: 0.86 10-dma: 0.83 21-dma: 0.97 55-dma: 1.04 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 1589 1690 Decliners 1220 1324 New Highs 167 123 New Lows 11 21 Up Volume 987M 784M Down Vol. 810M 882M Total Vol. 1821M 1700M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 11/02/04 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 Considering the fact that the latest data was taken as of election day, Nov. 2nd, it's no surprise to see both commercials and small traders hedging their bets. The next round of data should be more informative. Commercials Long Short Net % Of OI 10/12/04 423,472 436,780 (13,308) (1.5%) 10/19/04 432,945 441,041 ( 8,096) (0.9%) 10/26/04 441,263 445,992 ( 4,729) (0.4%) 11/02/04 446,192 441,676 ( 4,516) (0.4%) 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 10/12/04 139,175 113,903 25,272 9.9% 10/19/04 147,148 124,827 22,321 8.2% 10/26/04 138,201 121,275 16,926 6.5% 11/02/04 136,290 132,040 4,250 1.5% 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 E-mini traders are not as humble as the larger S&P futures traders. Commercials remain bearish and small traders have pushed their bullish bias to new multi-week levels. Just remember, this data is post-election. Commercials Long Short Net % Of OI 10/12/04 258,457 517,805 (259,348) (33.4%) 10/19/04 264,860 531,541 (266,681) (33.4%) 10/26/04 276,128 509,552 (233,424) (29.7%) 11/02/04 307,053 580,081 (273,028) (30.7%) 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 10/12/04 309,720 62,502 247,218 66.4% 10/19/04 353,903 66,027 287,876 68.5% 10/26/04 345,908 64,061 281,847 68.7% 11/02/04 395,029 63,746 331,283 72.2% Most bearish reading of the year: (77,385) - 09/02/03 Most bullish reading of the year: 449,310 - 06/10/03 NASDAQ-100 Just as small traders pushed their bullish S&P bias to multi- week extremes; they've done the opposite on the NDX with a new multi-week bearish extreme and a new low for the year. Commercials Long Short Net % of OI 10/12/04 52,572 32,775 19,797 23.2% 10/19/04 52,630 31,940 20,690 24.4% 10/26/04 53,233 31,323 21,910 26.2% 11/02/04 53,002 31,231 21,771 25.0% 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 10/12/04 8,756 24,400 (15,644) (47.2%) 10/19/04 10,462 25,243 (14,781) (41.3%) 10/26/04 10,521 25,388 (14,867) (42.8%) 11/02/04 8,886 36,621 (27,735) (61.3%) Most bearish reading of the year: (27,735) - 11/02/04 Most bullish reading of the year: 19,088 - 01/21/02 DOW JONES INDUSTRIAL Neither commercials nor small traders seem willing to place any big bets but both are somewhat bullish on the Industrials. Commercials Long Short Net % of OI 10/12/04 24,150 22,849 1,301 2.7% 10/19/04 25,385 24,213 1,172 2.3% 10/26/04 25,707 24,855 852 1.6% 11/02/04 25,319 24,261 1,058 2.0% 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 10/12/04 8,814 9,167 ( 353) ( 1.9%) 10/19/04 8,327 6,015 2,312 16.1% 10/26/04 8,405 6,336 2,069 14.3% 11/02/04 7,952 6,306 1,261 8.8% 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 11-09-2004 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 Stock Splits Announcements: CNC, CAKE 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 ================================================================== Stock Splits ================================================================== Announcements ------------- CNC declares a 2-for-1 stock split Right at the closing bell today the Centene Corp. (NYSE:CNC) announced that its Board of Directors had approved a 2-for-1 stock split. The split will take effect as a 100 percent stock dividend. This dividend will be distributed on December 17th, 2004 to shareholders on record as of November 24th. Post-split CNC will have approximately 41.2 million shares outstanding. About the company: Centene Corporation provides multi-line managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income (SSI) and the State Children's Health Insurance Program (SCHIP). The Company operates health plans in Indiana, New Jersey, Ohio, Texas and Wisconsin. In addition, the Company contracts with other healthcare organizations to provide specialty services including behavioral health, nurse triage and treatment compliance. (source: company press release) -- CAKE cooks up a 3-for-2 stock split This afternoon after the market's closing bell the Cheesecake Factory (NASDAQ:CAKE) announced that its Board of Directors had approved a 3-for-2 stock split. The split will take place as a 50 percent stock dividend. This dividend is payable on December 8th, 2004 to shareholders on record as of November 23rd. About the company: The Cheesecake Factory Incorporated operates 86 upscale, casual dining restaurants under The Cheesecake Factory® name that offer an extensive menu of more than 200 items with an average check of approximately $16.09. The Company also operates a bakery production facility that produces over 50 varieties of quality cheesecakes and other baked products for the Company's restaurants and for other leading foodservice operators, retailers and distributors. Additionally, the Company operates four upscale casual dining restaurants under the Grand Lux Cafe® name in Los Angeles, Chicago, Las Vegas and Dallas; one self-service, limited menu "express" foodservice operation under The Cheesecake Factory Express® mark inside the DisneyQuest® family entertainment center in Orlando, Florida; and licenses three bakery cafe outlets to another foodservice operator under The Cheesecake Factory Bakery Cafe® name. (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 BUD Anheuser-Busch Cos 51.07 +0.81 CHA China Telecom 34.53 +0.86 COF Capital One Financial 77.75 +0.70 CAH Cardinal Health 50.29 +1.28 DE Deere & Co 67.85 +3.10 DGX Quest Diagnostic 91.26 +1.16 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- MWY Midway Games 11.63 +1.13 IDCC Interdigital Community 17.00 +1.04 AGEN Antigenics Inc 9.18 +1.19 NFLD Northfield Labs 17.24 +1.74 ECST Ecost.com 15.24 +1.62 IMR Imco Recycling 13.05 +1.17 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- ATH Anthem Inc 91.23 +4.73 WHR Whirlpool corp 63.77 +1.76 TOL Toll Brothers Inc 50.63 +1.48 NRG NRG Energy 31.10 +1.80 RKY Adolph Coors 71.27 +2.07 BZH Beazer Homes 120.67 +4.68 MYG Maytag Corp 20.27 +1.74 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- APA Apache Corp 48.37 -1.10 AHC Amerada Hess 76.63 -2.15 HSP Hospira Inc 30.97 -1.83 LAMR Lamar Advertising 41.17 -1.14 FOSL Fossil Inc 27.76 -3.63 SCHS School Specialty Inc 37.11 -5.29 UNS Unisource Energy 23.40 -1.16 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ----------------------------------------- PETM Petsmart Inc 32.63 -0.50 PSUN Pacific Sunwear 23.18 -0.72 ================================================================= 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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