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Daily Newsletter, Wednesday, 11/10/2004

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PremierInvestor.net Newsletter               Wednesday 11-10-2004
                                                   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: It Was a Setup 
Watch List:  Medical, Energy, Cake and more!


===============================================================
MARKET WRAP  (view in courier font for table alignment)
===============================================================
      11-10-2004           High     Low     Volume   Adv/Dcl
DJIA    10385.48 -  0.89 10439.40 10378.59 1.88 bln 1621/1204
NASDAQ   2034.56 -  8.77  2047.25  2032.37 1.84 bln 1614/1394
S&P 100   555.54 -  1.36   558.85   555.51   Totals 3235/2598
S&P 500  1162.91 -  1.17  1169.35  1162.51
SOX       405.76 - 10.04   415.80   404.90
RUS 2000  609.61 +  2.97   611.93   605.46
DJ TRANS 3574.36 - 13.35  3594.87  3568.18
VIX        13.80 -  0.53    13.51    12.79
VXO (VIX-O)13.63 -  0.01    14.08    13.18
VXN        19.41 +  0.22    19.91    19.16
Total Volume 3,729M
Total UpVol  1,685M
Total DnVol  1,966M
Total Adv  3235
Total Dcl  2598
52wk Highs  407 
52wk Lows    42
TRIN       1.47
PUT/CALL   0.70
===============================================================

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

It Was a Setup 
Linda Piazza

Dictionary.com defines "setup" as "a contest prearranged to
result in an easy or faked victory," among other definitions.
 Both bulls and bears fear that the day's events set them up for
someone else's victory.  A study of daily charts shows how close
many indices are to breakdowns or breakouts.  

Annotated Daily Chart for the SPX:

 

Annotated Daily Chart for the Dow:

 

Annotated Daily Chart for the Nasdaq:

 

Annotated Daily Chart for the GHA:

 

Annotated Daily Chart for the SOX:

 

Annotated Daily Chart for the Russell 2000:

 

Cisco (CSCO) set techs up for a decline, but the company had help
from tech bulls.  Tuesday, Marc Eckelberry of the OptionInvestor
Futures Monitor had pointed out that CSCO's November 20 strike
had a put/call ratio of .11, indicating irrational optimism about
CSCO's earnings report.  The stock was set up for a decline on
any disappointment, and there was a disappointment.  CSCO closed
Wednesday at $18.44, down $1.31 or 6.63 percent. 

Despite disappointment over CSCO's Q1 results, network-related
stocks had performed well in Europe, but the NWX, the Networking
Index, gapped lower at the U.S. open and headed down throughout
the day.  The NWX closed down 1.14 percent.  

Early Wednesday, analysts had begun cutting ratings on tech-
related stocks or sectors.  UBS cut HPQ's rating to neutral,
citing valuation and its preference for IBM or Dell.  However,
the company also cut Dell's rating to neutral.  UBS was busy in
the tech sector, raising its price target for Lucent Technologies
(LU) in one bright spot for techs.  Morgan Stanley lowered its
outlook on the semiconductor capital equipment sector to a
cautious one from its previous in-line view.  The firm noted that
they were seeing a downturn rather than a mere correction in
capital spending.  The firm also lowered price targets for AMAT,
NVLS, CYMI, KLAC, and LRCX.  

More setups were to come, setups that might have helped the FOMC
formulate a decision and the accompanying statement later in the
day.  Because Thursday is Veteran's Day, government offices will
be closed, shaking up this week's usual schedule of government
releases.  In addition to the usual batch of economic releases
Wednesday morning, Initial Jobless Claims, October's Import Price
Index, and September's Trade Balance were all slotted into the
8:30 time period.  

Those numbers appeared to set markets up for an early-morning
rally, but futures dropped off their highs instead, perhaps on
worry over the Fed's interpretation of the numbers or perhaps
after a look at the underpinnings of some of those numbers.

Unemployment claims numbered slightly fewer than expected, up
only 2,000, with the four-week average down 5,500 to 336,000. 
That was touted as the lowest level since July, and sure to have
been factored into the Fed's decision.  

September's Trade Balance had been expected to remain flat at $54
billion. Instead, the number surprised by falling to $51.6
billion.  Import prices rose 1.5 percent, but fell 0.2 percent ex
oil. The average price of a barrel of oil increased to $37.62, a
record high. 

Market pundits noted that hurricanes and other factors disrupted
shipments of imported oil in September.  That capped import
prices, they concluded.  Otherwise, those prices might have risen
more.  With this in mind, some theorized that the deficit will
widen again in October as a result of resumed shipments, and this
month's deficit was no lightweight, still the third largest. 
Exports rose 0.8 percent to their highest-ever levels, but
imports from China also rose to a record high.  

Some experts believe that the dollar, already weakening to record
levels over the last week, may be weakened further by the
widening gap in the current account.  Many central banks, most
notably those in Asia, have been making efforts to shore up the
dollar against their currencies.  A weak dollar helps U.S.
exporters, but hurts Asian and European exporters, as well as
U.S. domestic companies paying for imported products,
particularly fuel.  Currency traders weren't fooled by the lower
deficit this month, looking forward to expectations for October. 
The dollar plummeted through the open, but then sprang up
afterwards, forming a neutral triangle at the top of the day's
range.

The Department of Energy's usual Wednesday release of crude,
distillate, and gasoline inventories followed.  DOE figures
showed crude inventories up 1.8 million barrels, slightly lower
than the expected 2.0 million increase.   Distillate and gasoline
inventories both fell, by 100,000 and 400,000 barrels,
respectively.  Estimates had been for a rise in distillate
inventories of 400,000 barrels, but the American Petroleum
Institute's figures disputed the DOE's.  The API stated that
distillate inventories rose by 2.21 million barrels.  

Distillates include heating oil, increasingly a focus as winter
approaches.  Some energy experts worry about heating oil supplies
this winter, but the International Energy Agency attempted to
calm those worries, lowering its estimate of global oil demand
through the end of this year by 100,000 barrels a day.  The high
energy costs proved a major factor in that decreased demand,
producing a global economic slowdown according to the IEA.  That
slowdown was also certainly be factored into the Fed's decision.

Crude prices initially rose after the release of the inventories
number, then dropped to a new recent low before rising again. 
Although many have been cheered by crude's fall from its plus-
$55.00 per barrel cost, it may be trying to bounce again from
support at its last swing high.  Like some indices and stocks,
it's set up for a bounce or a tumble through support. 

Annotated Daily Chart for Crude: 

 

At 2:00, October's Monthly Budget Statement was released, with
the FOMC Rate Decision following closely afterward at 2:15.  The
budget deficit was in-line with expectations, at $57.3 billion,
and the Fed's decision to raise rates a quarter point was also in
line with expectations.  

The accompanying statement to the FOMC decision mentioned the
improving labor market and asserted that output was still growing
despite those higher energy prices.  That statement read much as
the previous meeting's had, with the Fed feeling that risks to
price stability and sustainable growth were balanced.  The
statement also asserted that inflation remained muted, an
assertion that some economists dispute, but that energy costs and
uneven global growth must be watched.

Whether or not inflationary pressure are muted, the reaction to
the FOMC decision was muted, too. CNBC's cameras focused on pit
traders after the announcement, faces upturned as they looked up
at the boards.  While Ron Insana quoted from the Fed's statement,
they stood silent, still scanning the boards.  A few hands
raised, palms out, to sell; a few hands raised, palms up, to buy. 
Most stood as if paralyzed.  The markets appeared to be, too, and
that's where they ended the day, ready to rumble or ready to
tumble.  Another Dictionary.com definition for "setup" is "a play
or pass that creates a scoring opportunity."  Many markets are
set up for just that opportunity, but with the direction yet to
be determined. 

Be cautious with all entries.  Some measurements, including
bullish sentiment, 9-period daily RSI, daily CCI, and others
reveal worrisome overbought levels on some indices.  The climb on
some has been meteoric, but as the following chart displays,
prices can continue climbing long after indicators signal
overbought conditions, when indices or stocks seem to be defying
gravity.  Those who follow my posts in OptionInvestor's Market
Monitor have seen this chart already.  Due to space requirements,
it wasn't possible to capture the beginning the rally in mid-
December.

Annotated Daily Chart For the OEX:

 

This chart warns that it's as risky to catch soaring knives as it
is to reach for falling ones, even when all the signs are in
place for a retreat.  Watch the benchmarks listed on the charts
above, place cautious bets, and be willing to be wrong and change
sides if markets react differently than you expect.

Thursday, bond markets will close along with government offices. 
Some economic calendars still include the release of information
on natural gas inventories at 10:30, but that may be a mistake as
others listed it for today.  Other than that, markets will have
little to distract them from sorting through bullish and bearish
factors and deciding on a direction.

A day ahead of time, my thanks and those of the OIN staff to all
veterans who have served to protect us all.  


=================================================================
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
---------------------------------

Aspect Medical Systems - ASPM - close: 20.57 change: +1.16

WHAT TO WATCH: ASPM just broke out over major, round-number, 
psychological resistance at the $20.00 mark to hit new four-year 
highs.  Volume was very strong on today's 6 percent gain.  We 
can't find any news to account for today's gain or yesterday's 
strong performance.  Readers may want to keep an eye on it for a 
potential dip.   The bullish P&F chart shows a new buy signal and 
a $28 target.




---

Primewest Energy - PWI - close: 22.07 change: +0.56

WHAT TO WATCH: PWI is another energy-related stock that looks 
ready to begin another leg higher.  The stock is already in an up 
trend that began last May.  Now after peaking above $22.50 in 
October the stock has consolidated the last four weeks.  Its 
technicals are turning positive again and its MACD is nearing a 
new buy signal.  Shares have also found support at their rising 
40 and 50-dma's.  Aggressive traders may want to consider 
positions now while conservative traders can look for a move over 
$22.50.




---

Sara Lee - SLE - close: 23.78 change: +0.51 

WHAT TO WATCH: SLE just broke out from its recent seven-day 
trading range between $23.00 and $23.50.  Today's 2.19 percent 
rally and breakout was fueled by above average volume.  We think 
SLE is worth watching as it nears major, long-term resistance at 
the $24.00 level.  Such a move would help pave the way for a run 
toward the P&F bullish target near $36.




---

Reuters Group - RTRSY - close: 41.65 change: +0.72

WHAT TO WATCH: RTRSY has been stuck in a trading range between 
$40 and $42 for the last couple of weeks.  The consolidation has 
been a combination of RTRSY digesting its gains from $35 to $41 
and an attempt to build up enough steam to breakout over its 
simple 200-week moving average.  Watch for the move over $42.00 
and consider it a bullish entry point.  The bullish P&F chart 
currently points to a $56 target.





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

FRO $55.40 +1.70 - We continue to suggest that FRO is presenting 
us a bullish entry point.

CEC $40.29 +0.29 - CEC continues to show strength.

HVT $19.59 +1.70 - HVT has broken through major resistance at 
$19.00 and its simple 200-dma.

OCR $30.45 +0.51 - OCR has broken above resistance at $30.00 and 
is nearing the 100-dma.  This could be an entry point for a run 
toward $34-35.


==========================================================
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               Wednesday 11-10-2004
                                                   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)
  New Bearish Plays:    ASKJ

Active Trader (Non-tech Stocks)
  New Bullish plays:    CHK, OMM, RIG
  New Bearish Plays:    CHH

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


==================================================================
Net Bulls (NB) Tech Stock section
==================================================================

---------
New Plays
---------

  New Bearish Plays
  -----------------

Ask Jeeves - ASKJ - close: 24.10 change: -1.55 stop: 26.51

Company Description:
Ask Jeeves, Inc. provides consumers and advertisers with 
information retrieval products across a diverse portfolio of Web 
sites, portals and desktop search applications. Ask Jeeves' 
search and search-based portal brands include: Ask Jeeves 
(Ask.com and Ask.co.uk); Ask Jeeves Japan (Ask.jp, a joint 
venture); Ask Jeeves for Kids (AJKids.com); Excite (excite.com); 
iWon (iwon.com); My Search (mysearch.com); My Way (myway.com); My 
Web Search (mywebsearch.com) and Teoma (teoma.com). Ask Jeeves 
also owns the search technology Teoma, proprietary natural 
language processing technology, as well as portal and ad serving 
technologies. In addition to powering several of the Ask Jeeves 
brands, the Company syndicates its technologies to help companies 
increase revenue through powerful search. Ask Jeeves' advertising 
division, AJinteractive, provides advertisers with targeted tools 
to reach a broad base of valuable customers. Ask Jeeves, Inc. is 
headquartered in Emeryville, California, with offices throughout 
the United States, as well as in London, England and Dublin, 
Ireland. (source: company press release)

Why We Like It:
ASKJ has already been suffering ever since its October 27th 
earnings report.  The stock gapped down and has been trying to 
consolidate above round-number support at the $25.00 level ever 
since.  As of today that support has failed.  Shares dropped more 
than six percent with very heavy volume on news that MSFT was 
going to unveil its new search engine tomorrow.  MSFT has been 
feverishly working on a new search engine for months to combat 
rivals like ASKJ and YHOO but their main target is GOOG.  
Technicals on ASKJ are all negative and its Point & Figure chart 
has broken through rising support and currently points to a 
$12.00 (long-term) price target.  With the uber-competitive MSFT 
moving into the search space it could be a tough road ahead for 
ASKJ and investors may choose to sell first and ask questions 
later.  We're going to target an initial move to $20.00.  

Annotated Chart:

 

Picked on November 10 at $24.10 
Gain since picked:       - 0.00
Earnings Date          10/27/04 (confirmed)
Average Daily Volume:       4.7 million 




==================================================================
Active Trader (AT) Non-Tech Stock section
==================================================================

---------
New Plays
---------


  New Bullish Plays
  -----------------

Chesapeake Energy - CHK - close: 17.03 change: +0.40 stop: 16.00

Company Description:
Chesapeake Energy Corporation is the fifth largest independent 
producer of natural gas in the U.S. Headquartered in Oklahoma 
City, the company's operations are focused on exploratory and 
developmental drilling and producing property acquisitions in the 
Mid-Continent, Permian Basin, South Texas, Texas Gulf Coast and 
Ark-La-Tex regions of the United States.
(source: company press release)

Why We Like It:
Oil stocks aren't the only ones on the upswing.  Natural gas 
stocks have been big winners this year as well.  CHK has shown 
very strong relative strength the past several days in spite of a 
sharp sell-off in natural gas prices.  The company recently 
announced earnings on November 1st and beat estimates by 8 cents.  
The company also raised production guidance for both 2005 and 
2006.  We noticed in their press release that their drilling 
operations have a seven-year backlog of up to 5,000 locations.  
In essence this is a momentum play but the energy/natural gas 
story behind it makes it even more attractive given the rising 
demand for natural gas.  We are going to use a TRIGGER at $17.21.  
The stock is already at six-year highs but we want to see CHK 
trade above last Friday's peak.  We'll start the play with a stop 
loss at $16.00 but more conservative traders may want to consider 
one at $16.49.  Our initial target is $19-20 range.  The bullish 
P&F chart points to $24.25.

Annotated Chart:

 

Picked on November xx at $xx.xx <-- see TRIGGER
Gain since picked:       + 0.00
Earnings Date          11/01/04 (confirmed)
Average Daily Volume:       2.5 million 



---

OMI Corp - OMM - close: 18.45 change: +0.65 stop: 16.99

Company Description:
OMI is a major international owner and operator of crude oil 
tankers and product carriers. Its fleet currently comprises 41 
vessels, including 15 Suezmaxes and 24 product carriers, 
aggregating approximately 3.3 million deadweight tons ("dwt").
(source: company press release)

Why We Like It:
Shipping stocks and crude oil tankers have been a pillar of 
strength in this market for the last several months.  Now after 
two or three weeks of digesting the rebound from its mid-October 
low shares of OMM look ready to begin the climb again.  Today's 
breakout from the tight, coiling action over the last few days 
and the move up and through the $18.00 level is encouraging.  
This is another momentum play but so far the trend has been the 
bulls' friend.  More conservative traders may want to wait for 
OMM to trade over today's high at $18.53 but we're willing to 
open longs now.  We'll start the play with a stop loss at $16.99.  
Our initial target is a move into the $20-21 region. 

Annotated Chart:

 

Picked on November 10 at $18.45 
Gain since picked:       + 0.00
Earnings Date          10/18/04 (confirmed)
Average Daily Volume:       1.1 million 



---

Transoceaon Inc - RIG - close: 36.46 change: +1.63 stop: 34.00

Company Description:
Transocean Inc. is the world's largest offshore drilling 
contractor with a fleet of 94 mobile offshore drilling units, 
excluding the 70-rig fleet of TODCO, a publicly traded drilling 
company in which Transocean Inc. has a majority voting interest. 
The company's mobile offshore drilling fleet, consisting of a 
large number of high-specification deepwater and harsh 
environment drilling units, is considered one of the most modern 
and versatile in the world due to its emphasis on technically 
demanding segments of the offshore drilling business. The 
company's fleet consists of 32 High-Specification Floaters 
(semisubmersibles and drillships), 25 Other Floaters, 26 Jackup 
Rigs and other assets utilized in the support of offshore 
drilling activities worldwide. (source: company press release)

Why We Like It:
Here is yet another energy-related stock.  If you read the 
description RIG is the largest offshore drilling company in the 
world.  With crude oil prices well above their "normal" $22-28 
range the exploration and drilling business should be strong for 
a long time to come. The company recently reported earnings on 
October 26th and beat estimates by 3 cents.  The stock was 
quickly upgraded to an "out perform" the next day.  Currently RIG 
has been consolidating between $34.00 and $37.00 for the last six 
weeks.  We believe that RIG will finish this consolidation soon 
and begin a new leg higher.  The MACD is nearing a new buy signal 
and its P&F chart points to a $56 price target.  Our plan is to 
use a TRIGGER above the recent high.  Our entry point will be 
$37.51.  Until RIG trades at or above this level we'll sit out. 
Once triggered we'll target the $42.50-45.00 range.  There is 
some resistance near $40.00 but we expect RIG to push through it. 
Our time frame is the end of this year. 

Annotated Chart:

 

Picked on November xx at $xx.xx <-- see TRIGGER
Gain since picked:       + 0.00
Earnings Date          10/26/04 (confirmed)
Average Daily Volume:       3.7 million 




  New Bearish Plays
  -----------------

Choice Hotel - CHH - close: 47.69 change: -1.40 stop: 52.00

Company Description:
Choice Hotels International is one of the world's largest lodging 
franchisors, marketing more than 5,000 hotels open or under 
development in 44 countries under the Comfort Inn, Comfort 
Suites, Quality, Clarion, Sleep Inn, MainStay Suites, Econo 
Lodge, and Rodeway Inn brand names. (source: company press 
release)

Why We Like It:
Profit taking.  Pure and simple.  After months of steady gains 
investors were quick to hit the sell button given the earnings 
news.  CHH has been a consistent winner ever since the current 
(now broken) up trend began back in May of 2003.  Then just as 
CHH near the $60.00 mark, which happened to be the median 
analysts price target, the company reported Q3 earnings.  CHH 
turned in 74 cents vs. estimates of 77 cents.  Management then 
guided under Wall Street's estimates for full-year 2004 earnings.  
It was no surprise when JP Morgan downgraded the stock to an 
"under weight" under slowing growth concerns.  The oversold 
bounce from the initial sell-off has failed and the stock is now 
back under its simple and exponential 200-dma's.  Volume has been 
heavy on the selling suggesting more weakness to come.  We are 
going to use a TRIGGER to start the play.  Our entry point will 
be $47.49.  The stock has been somewhat volatile so we are going 
to use a wide stop loss at $52.01.  More conservative traders may 
want to consider something over the simple 10-dma.  We believe 
that CHH can trade down toward the $41-40 range.  The P&F chart 
is bearish and points to a $35.00 target. 

Annotated Chart:

 

Picked on November xx at $xx.xx <-- see TRIGGER
Gain since picked:       + 0.00
Earnings Date          10/26/04 (confirmed)
Average Daily Volume:       151 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

TOT     Total Sa (ADS)            107.30     +1.08
BA      Boening                    53.40     +0.89
CHA     China Telecom              35.29     +0.76
ECA     Encana Corp                52.12     +0.87
ALL     Allstate Corp              49.58     +1.33
SLE     Sara Lee                   23.78     +0.51

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

LGF     Lions Gate  Entertainment  11.40     +1.21
GRA     W.R.Grace & Co             14.48     +2.07
HVT     Haverty Furniture          19.59     +1.70
CVGI    Commercial Vehicle Group   17.83     +1.06
RSCR    Res-Care Inc               13.52     +1.07
ROXI    Roxio Inc                   8.40     +1.18

---------------------------------------
Breakout to Upside (Stocks over $20)
---------------------------------------
  
ATH     Anthem Inc                 92.89     +1.66
CSC     Computer Sciences          53.64     +3.51
KMRT    Kmart Holdings             99.09     +2.68
CME     Chicago Mercantile Exchg  198.56     +7.45
RMK     Aramark Worldwide          25.45     +1.80
STR     Questar Corp               50.69     +1.95
UTIW    UTI Worldwide Inc          70.70     +3.46

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

HIT     Hitachi Ltd                60.83     -2.23
SPI     Scottish Power             29.98     -2.18
MXIM    Maxim Integrated Products  42.04     -2.20
KYO     Kyocera Corp               70.15     -1.55
CHH     Choice Hotels Intl         47.69     -1.40
ASKJ    Ask Jeeves                 24.10     -1.55
BTH     Blyth Inc                  29.95     -1.85

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

MBT     Mobile Telesys            148.10     -5.99
LUK     Leucadia Ntl Corp          58.87     -1.27
OSTK    Overstock.com              57.42     -4.36
OLG     Offshore Logistics         34.60     -1.06
AVCT    Avocent                    35.66     -0.55


=================================================================
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.
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DISCLAIMER

Option Investor Inc is neither a registered Investment Advisor nor a Broker/Dealer. Readers are advised that all information is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All opinions, analyses and information included herein are based on sources believed to be reliable and written in good faith, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we do not necessarily update such opinions, analysis or information. Owners, employees and writers may have long or short positions in the securities that are discussed.

Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report and website should be independently verified.

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Option Investor Inc
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Littleton, CO 80163

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