PremierInvestor.net Newsletter Tuesday 11-16-2004 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: Finally, A Pause To Reload Watch List: Medical supplies to semiconductors Market Sentiment: No Surprises ================================================================= MARKET WRAP (view in courier font for table alignment) ================================================================= 11-16-2004 High Low Volume Adv/Dcl DJIA 10487.65 - 62.60 10549.79 10477.95 1.73 bln 1243/1999 NASDAQ 2078.62 - 15.50 2087.30 2073.35 1.91 bln 1158/1937 S&P 100 562.26 - 3.83 566.09 562.19 Totals 2401/3936 S&P 500 1175.43 - 8.38 1183.81 1175.32 SOX 427.38 - 1.96 431.00 422.57 RUS 2000 617.89 - 5.97 623.86 617.80 DJ TRANS 3572.19 - 39.30 3611.96 3570.45 VIX 13.21 - 0.17 13.67 13.20 VXO (VIX-O)14.00 - 0.21 14.69 13.79 VXN 18.60 + 0.10 18.95 18.52 Total Volume 3,961M Total UpVol 1,297M Total DnVol 2,592M Total Adv 2804 Total Dcl 4457 52wk Highs 414 52wk Lows 65 TRIN 1.58 NAZTRIN 0.72 PUT/CALL 0.71 ================================================================= =========== Market Wrap =========== Finally, A Pause To Reload by Jim Brown After three weeks of a sustained uptrend the market finally decided to take a day off and rest its weary legs. The surge to new highs has been relentless and those not already long have been wringing their hands in anguish over the thought of having to go long at new highs with no profit taking for a safer entry. Those fears have been calmed after today and now all they need is confirmation of new upward movement to hook them with the promise of higher highs. Dow Chart Nasdaq Chart SPX Chart The morning dip was blamed on a higher than expected inflation reading from the Producer Price Index. The PPI may have been blamed but they could just as easily blamed it on the moon or sunspots. The market was very extended and just needed to rest and the PPI was the best excuse market reporters could find. The PPI did jump +1.7% and well over expectations for +0.5%. This was the largest gain in fourteen years and produced a form of sticker shock for those not paying attention. Those pausing for a minute to look under the hood saw that it was directly related to the spike in oil and the hurricane and those factors causing the bounce are already abating. Oil spiked to $55 on pre election terrorist fears and speculative excess and that is already fading as expected. The impact to the PPI from fuel was enormous at +4.12% and distorted the headline number significantly. Another component causing trouble was food which was driven higher by produce and feed shortages caused by the hurricane damage and supply disruption. Individually vegetables jumped +34.2%, gas +17.3% and fuel oil +17.9%. The headline number got all the attention but ex-food/energy it was a tame +0.3%. Lots of smoke but the fire is already out. This was a slam dunk for traders and should have never caused more than a momentary blip for news dissemination. Instead they looked at the calendar and saw the Consumer Price Index due out tomorrow and took a pass on new positions until that news is out on the consumer level. The Chain Store Sales fell -0.4% for the week ended Nov-13th and that makes four of the last five weeks the index has fallen. Last weeks +1.3% jump turned out to be an anomaly and could not be continued. Sales on a year over year basis have been running on about a +3% clip and that trend continued. The ICSC is projecting holiday sales of +3% to +4% for both November and December. If oil does continue lower, something we cannot count on, then consumers will feel a pressure release that could lead to more spending. The November NAHB Housing Index was flat at 71 with October and that is also the 12-month high. Builders continue to be positive despite a minimal drop in traffic to 50 from 52. It is fall and weather does diminish idle shoppers. Those that really want to buy a new home are not deterred. The string of months at 50 or higher reached seven months and the longest string since the late 1990s. The expectations component is holding at 80 and very optimistic. Maybe too optimistic in light of the current uncertainty and the Fed rate hike process. For Wednesday we have the CPI, Residential Construction, Industrial Production, Mortgage Applications and Oil and Gas Inventories. Short of a disaster that is not energy related in the CPI I doubt that will be a factor for the market. The oil inventories could either send prices sharply lower or reverse the current drop and could be the most important release. After the bell tonight HPQ reported earnings that beat the street by +4 cents and raised their estimates for the first half of 2005. Not only did they have their best printer quarter ever, HPQ said they strengthened their competitive position with significant new offerings in storage, blade servers, imaging, printing and digital entertainment. HPQ said it had record revenues in every division and every region that helped push profits up +26%. Shares of HPQ jumped +10% in after hours trading. HPQ raised estimates for both revenue and earnings for the first half of 2005. Network Appliance (NTAP) also announced earnings that beat the street by +2 cents and raised guidance for the current quarter and full year. NTAP said there was rising strength in all product lines and all geographies. They especially saw strength in Japan and from the Federal Government which was spending heavily in homeland defense applications requiring massive amounts of data. NTAP projected revenue in the current quarter to grow +35% to +38% year over year. NTAP soared nearly +10% in after hours trading. Unfortunately the good news from HPQ and NTAP did not cross over to the broader market. Futures ceased their closing drop on the news but failed to move higher but they do have a positive bias. Several challenges still need to be overcome. Intel was downgraded today from a buy to hold at Wedbush Morgan and it was downgraded on Monday to underperform from buy at First Albany. On Friday Wells Fargo initiated coverage with a SELL. While the tech analyst bears were ganging up on Intel the stock continued to set new three month highs and closed only three cents below those highs. Intel may not be able to hold the SOX up all by itself but it is definitely bucking the downgrade trend. The SOX tried to hold the higher ground today above 430 but could not maintain traction. The SOX only lost -1.96 so it was still a good performance. Having HPQ and NTAP both beat and raise estimates tonight the potential for a new SOX high tomorrow is pretty good. Ironically HPQ made a specific note of strong Intel server sales. Guess those Intel bears will be road kill again. In order for that new SOX high to hold the investing public will have to overcome caution from the Goldman Sachs CIO survey released today. Goldman found that CIOs were more upbeat about 2005 but 2004 was not going to end with a bang. The 2004 IT growth was likely to end up between +3% and +4% according to the survey. Actually that is much higher than previous estimates but it is still lackluster. More bad news was the prospect for only +2% to +4% growth for 2005. This is also better than prior estimates at +1.9% but still lackluster. It is considered a recovery year and historically there was substantially stronger double digit growth in past recoveries. Analysts and traders could not decide to be excited or worried about the improved forecast. Goldman said Dell, HPQ, NTAP, EMC, MSFT and SYMC were gaining market share in terms of IT budgets with SUNW and CA losing ground. The markets opened weak on not only the PPI but on numbers from Wal-Mart that failed to impress. Earnings were inline with estimates but profits failed to meet Wal-Mart's hopes. They blamed the slippage on high gas prices and budgets experiencing an energy crisis. They did say sales were ramping up nicely into the holidays and they are expecting same store sales growth between +2% and +4%. WMT lost -81 cents for the day but the results impacted the entire retail sector. The Dow could not find a bid at the open and fell from yesterday's 10550 close to 10480 before any dip buyers appeared. Once they did appear they were unable to return it to its previous glory but they were successful in holding the index to barely more than a 25 point range around 10500 the rest of the day. Considering the massive gains of nearly +850 points over the last three weeks the minor -62 point loss was only a drop in the bucket. Should we really break the trend and move lower we should find initial support in the 10470 range with very strong support back at 10400. With the HPQ/NTAP news after the bell I would be really surprised to see a continued dip but anything is possible given the huge gains. The Nasdaq dropped -15 points to 2075 and found very decent support all afternoon. With the tech news after the bell spiking Dell, NTAP, SUNW, INTC, the SMH and many others in after hours I suspect the Nasdaq will open higher without a new pre open disaster. Should we move lower there is very strong support in the 2040 range but a drop of that magnitude would call into question the future of the current rally. If you look at the charts above you will see that the Dow and Nasdaq failed exactly where they should have failed after the strong run. While they may not just catapult over that resistance tomorrow or even this week I believe they will stay in close proximity for the next attack. There are a lot of traders waiting for a strong pull back that may never come and I would be very surprised if it appeared this week. If you watched the market gain hundreds of points without you over the last two weeks would you want to face that possibility again as we near Thanksgiving week? Historically the holiday week is bullish and traders hoping for entries before that week are quickly running out of time. They will have to act quick on any remaining weakness and hope there is not a bigger problem lurking in our future. This is option expiration week and the first two days have not been exciting. Those short and hoping for a continued pull back to cover are probably more nervous than a cat in a room full of rocking chairs tonight. The earnings have given the futures an upward bias and a positive CPI before the open could reawaken the bulls. Those waiting for Nasdaq 2050 to enter long positions could be waiting a long time. Shifting gears slightly I am starting to see more negative press about possible market direction once we get to January. While I agree the direction for 2005 could be a challenge I don't think wasting time worrying about it now is a worthwhile effort. Remember, those fund managers still behind the curve need to capture some performance over the next six weeks and they will be providing the market momentum for the rest of us. Plus, retail investors have awakened from their sleep with newspapers touting the current rally. Money is pouring into funds and that money has to be put to work. TrimTabs said $1.8 billion flowed into the SPY on Monday alone. So far this month $6B has flowed into US Equity funds and $4.6B into ETFs. This is the biggest influx of cash since March. Unless the spigot suddenly runs dry tomorrow that inflow should continue through the Thanksgiving rally. Also helping this flow of cash is the continued low price of oil. Oil closed at $46.10 today and while still above the 100 day average at $45.50 those hoping for a rebound at that support should be getting worried. That worry could lead to further shifting of money from oil to equities. If you are bullish on the market you should be looking for a low CPI tomorrow, higher industrial production and a sharp rise in oil inventories at 10:30. Those three things should erase any lingering doubts traders might have about being out of the market ahead of Thanksgiving. Buy the dips until the trend changes. 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 --------------------------------- Mentor Corp - MNT - close: 29.88 change: -1.58 WHAT TO WATCH: Today's five percent decline in MNT could be an entry point for bears. The stock was hammered in early November after reporting earnings that were only in-line with estimates. The earnings news were quickly followed by a broker downgrade and the stock gapped lower. Now after two weeks of an oversold bounce MNT is failing again under the bottom of the gap down and its simple 200-dma. The long-term chart appears to be giving a rounding-top pattern. We would watch for a move under current support in the $29.25 region. A breakdown there could lead toward the $25 area. The P&F chart is already into a sell signal with a $24 target. --- CalAmp Corp - CAMP - close: 8.50 change: +0.62 WHAT TO WATCH: After months of consolidation between $5 and $8 a share CAMP has finally broken out. The rally began after the election and CAMP pushed its way towards resistance at $8.00 and its exponential 200-dma. CAMP broke through its 200-ema yesterday and broke through the $8.00 level today on volume almost three times its average. This looks like a bullish entry point but we're a little worried by the simple 200-dma directly overhead. P&F chart readers will note that CAMP has reversed its sell signal into a new buy signal with a $13 target. --- Infinity Property & Casualty - IPCC - close: 33.42 change: +0.99 WHAT TO WATCH: This insurance stock has rallied with the rebound in the IUX insurance index. Now shares of IPCC are nearing major resistance at $34.00. A breakout here would be very bullish and pave the way for a run toward its highs near $38.00. --- Rambus Inc - RMBS - close: 21.47 change: +2.63 WHAT TO WATCH: The rally in RMBS continues. Shares have now broken through round-number, psychological resistance at $20.00 and its simple 200-dma. Volume was very strong at nearly ten times the average volume. The headlines suggest the rally is fueled by a favorable court decision in one of RMBS patent cases. Watch for a dip to $20.00 and consider a bounce an aggressive bullish entry point. ----------------------------------- RADAR SCREEN - more stocks to watch ----------------------------------- AMAT $16.76 +0.02 - AMAT is due to report earnings tomorrow. Wall Street is looking for 26 cents a share. Watch for the move over $17.00. QLGC $34.94 +0.02 - Almost there. We're watching for the close over $35.00. TOPT $18.34 +1.45 - The more aggressive trader may want to give TOPT another look. This transport stock is breaking out from a pennant-type pattern on big volume. Its MACD has produced a new buy signal. =============================== Market Sentiment =============================== No Surprises - J. Brown Okay the big jump in wholesale prices was a surprise but was the pull back really a surprise? I hope not. We've been looking for a dip for days now. If not for the rise in inflation via the PPI index stocks may not have dipped at all. The news was probably just the excuse traders needed to do some much needed profit taking. Even with the excuse to sell the weakness was not very deep. I would hope for more profit taking tomorrow but a positive earnings report from tech heavy-weight Hewlett-Packard (HPQ) after the bell on Tuesday could spoil that. The company came in above estimates and offered a positive outlook on the fourth quarter. Normally this would put a bid under tech stocks, especially hardware stocks tomorrow. Of course tomorrow brings a parade of economic data. First and foremost is the Consumer Price Index or CPI. If the CPI comes in way above expectations it could/should weigh on the markets. Wednesday also brings the industrial production and capacity utilization numbers. Plus, Wall Street will be digesting the latest housing starts and building permits data. Another pivotal piece of evidence for the tech sector and specifically the semiconductor sector will be Applied Material's (AMAT) earnings. Wall Street is looking for 26 cents a share from the planet's largest chip equipment maker. AMAT's results and guidance could have a big affect on the SOX and thus indirectly on the NASDAQ. FYI: the COT data at the bottom of this report has been updated for the latest data available on 11/09/04. ----------------------------------------------------------------- Market Averages DJIA ($INDU) 52-week High: 10753 52-week Low : 9585 Current : 10487 Moving Averages: (Simple) 10-dma: 10404 50-dma: 10148 200-dma: 10244 S&P 500 ($SPX) 52-week High: 1170 52-week Low : 1031 Current : 1175 Moving Averages: (Simple) 10-dma: 1167 50-dma: 1128 200-dma: 1120 Nasdaq-100 ($NDX) 52-week High: 1559 52-week Low : 1301 Current : 1548 Moving Averages: (Simple) 10-dma: 1532 50-dma: 1455 200-dma: 1438 ----------------------------------------------------------------- CBOE Market Volatility Index (VIX) = 13.21 -0.17 CBOE Mkt Volatility old VIX (VXO) = 14.00 -0.21 Nasdaq Volatility Index (VXN) = 18.60 +0.10 ----------------------------------------------------------------- Put/Call Ratio Call Volume Put Volume Total 0.71 1,007,709 713,584 Equity Only 0.59 801,638 474,116 OEX 1.62 30,248 49,147 QQQ 0.60 80,552 48,923 ----------------------------------------------------------------- Bullish Percent Data Current Change Status NYSE 71.5 + 1 Bear Correction NASDAQ-100 71.0 + 2 Bull Confirmed Dow Indust. 63.3 + 0 Bull Confirmed S&P 500 72.2 + 1 Bull Confirmed S&P 100 72.0 + 1 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: 0.98 10-dma: 0.93 21-dma: 0.94 55-dma: 1.00 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 1042 1130 Decliners 1788 1899 New Highs 197 130 New Lows 13 14 Up Volume 458M 790M Down Vol. 1248M 1062M Total Vol. 1734M 1885M M = millions ----------------------------------------------------------------- Commitments Of Traders Report: 11/09/04 Weekly COT report discloses positions held by small specs and commercial traders of index futures contracts at the Chicago Mercantile Exchange and Chicago Board of Trade. COT data can be found at www.cftc.gov. Small specs are the general trading public with commercials being financial institutions. Commercials are historically on the correct side of future trend changes while small specs tend to be wrong. S&P 500 The difference between longs and shorts on the commercial side continues to narrow suggesting no bias one way or the other. Small traders are also somewhat neutral with a mild bullish bias. Commercials Long Short Net % Of OI 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%) 11/09/04 447,779 449,171 ( 1,392) (0.1%) 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 10/19/04 147,148 124,827 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% 11/09/04 148,415 136,325 12,090 4.2% 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 Commercials traders appear to be trying to capitalize on the S&P's overbought status. Short positions soared and the latest data is one of the most bearish readings of the year. As is usually the case the small traders is on the opposite side of the play with one of the most bullish readings of the year. Commercials Long Short Net % Of OI 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%) 11/09/04 337,164 672,903 (335,739) (33.2%) 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 10/19/04 353,903 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% 11/09/04 392,253 58,999 333,254 73.8% 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 remain bullish on the NASDAQ. Meanwhile small traders upped their positions on both longs and shorts but hit a new bearish extreme as far as net short positions. Commercials Long Short Net % of OI 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% 11/09/04 54,509 33,016 21,493 24.5% 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 10/19/04 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%) 11/09/04 10,213 38,251 (28,038) (57.8%) Most bearish reading of the year: (28,038) - 11/09/04 Most bullish reading of the year: 19,088 - 01/21/02 DOW JONES INDUSTRIAL Not much action in the commercials as they remain evenly divided between longs and shorts. The same can be said for small traders this past week with a split between bulls and the bears. Commercials Long Short Net % of OI 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% 11/09/04 22,863 22,463 400 0.8% 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% 11/09/04 6,165 6,483 ( 318) ( 2.5%) 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 11-16-2004 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: AIT, SAVB 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 ------------- AIT announces 3-for-2 stock split Tuesday morning before the opening bell Applied Industrial Technologies (NYSE:AIT) announced that its Board of Directors has approved a 3-for-2 stock split of its common shares. The split will be payable on December 17th, 2004 to shareholders on record as of December 3rd. Fractional shares resulting from the split will be paid in cash. Post-split AIT will have approximately 29.6 million shares outstanding. About the company: With more than 430 facilities and 4,300 employee associates across North America, Applied Industrial Technologies offers more than 2 million parts critical to the operations of MRO and OEM customers in virtually every industry. In addition, Applied provides engineering, design and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber and fluid power shop services. For its fiscal year ended June 30, 2004, the Company posted sales of $1.52 billion. (source: company press release) -- SAVB announces 5-for-4 stock split This afternoon right at Tuesday's closing bell the Savannah Bancorp, Inc. (NASDAQ:SAVB) announced that its Board of Directors had approved a 5-for-4 stock split of its common shares. This stock split will take the form of a 25 percent stock dividend payable on December 17th, 2004 to shareholders on record as of November 26th. Fractional shares will be paid in cash. About the company: The Savannah Bancorp, Inc., a bank holding company for The Savannah Bank, N.A. and Bryan Bank & Trust, Richmond Hill, GA, is headquartered in Savannah, GA. Harbourside Mortgage Company, a division of The Savannah Bank, N.A., is a loan production office on Hilton Head Island, SC that began business on October 1, 2003. SAVB began operations in 1990. Its primary businesses include deposit, credit, trust and mortgage origination services provided to local customers. (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 CNI Canadian Natl Railway 56.72 +0.52 BNN Brascan Corp 36.92 +1.22 KMI Kinder Morgan 66.96 +0.55 NRD Noranda Inc 17.77 +0.72 DRL Doral Financial 46.45 +0.96 CP Canadian Pacific Ltd 29.78 +0.75 --------------------------------------- Breakout to Upside (Stocks $5 to $20) --------------------------------------- MFLX Multi-Fineline Electronix 18.04 +1.05 CTMI CTI Molecular Imaging 11.31 +2.48 ASF Administaff 14.46 +1.43 TOPT Top Tankes Inc 18.34 +1.45 RVSN Radvision Ltd 13.20 +1.07 RTIX Regeneration Technologies 9.72 +2.01 --------------------------------------- Breakout to Upside (Stocks over $20) --------------------------------------- BNN Brascan Corp 36.92 +1.22 XMSR XM Satellite Radio 36.13 +1.86 FNF Fidelity Natl Financial 42.28 +3.32 VRSN Verisign Inc 31.57 +1.49 CCJ Cameco Corp 91.90 +2.79 HRS Harris Corp 67.12 +1.25 KMX Carmax Inc 29.07 +1.80 ------------------------------------------- Breakout to Downside (Stocks over $20) ------------------------------------------- MBT Mobile Telesys 139.00 -3.50 ZBRA Zebra Technology 48.48 -3.57 INSP Infospace Inc 49.17 -5.43 MNT Mentor Corp 29.88 -1.58 HDWR Headwaters 29.75 -1.38 ESE Esco Technologies 69.17 -5.57 ----------------------------------------- Recently Overbought With Bearish Signals (Stocks over $20) ----------------------------------------- COGN Cognos Inc 38.85 -1.30 PJC Piper Jaffray 45.73 -3.32 NX Quanex Corp 54.30 -1.09 FCFS First Cash Financial 23.87 -1.42 PKOH Park-Ohio Holdings 21.50 -1.09 ================================================================= 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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