Option Investor
Newsletter

Daily Newsletter, Thursday, 09/21/2006

HAVING TROUBLE PRINTING?
Printer friendly version

Table of Contents

  1. Market Wrap
  2. New Plays
  3. In Play Updates and Reviews

Market Wrap

Priced To Perfection

The Market got what it wanted yesterday (a pass by the Fed) but sold off today anyway. Just another sell-the-news event. The trouble this time is that a sell-the-news event could lead to something a lot more drastic. That's because the market has everything priced to perfection at this point and any disappointing news will not be taken well. But so far there have been no major hiccups. Well, except for that minor little problem with Amaranth losing $5B. But what's a few billion amongst friends. There's plenty more where that came from.

The jubilation at the news the Fed was going to hold at the current interest rate turned to fear today that perhaps that means the economy is slowing. The release of the Philly Fed survey and leading economic indicators today only added to fears that a hard landing may not be avoidable after all. And once again I'll mention the facts about the stock market vs. the Fed's rate changes. With very few exceptions the stock market was down 6 and 12 months After the Fed stopped raising rates. Why so many talk about the market being a good time to buy once the Fed stops raising rates is beyond me. I'm thinking it's smart money who keeps that rumor alive so that they have plenty of sheep to sell to while smart money unloads their inventory.

From a technical perspective several of the market's major indices are perched at the top of bearish ascending wedges in which they have cornered themselves. They must break to the upside with gusto otherwise even a normal pullback will be a break down from the wedges. Once a break down occurs it will be difficult to stem the blood-letting since these wedges typically retrace quickly all the way back to their origin; in this case that's the July low.

But that's the downside risk. For now the equity market is holding up remarkably well. The low VIX says no one is worried about a Sept/Oct correction (strong hint--put options are real cheap right now). I hate to sound like a bear since I know many of our readers do not like hearing anything other than bullish things and prefer to only buy and not sell. Buying calls is good; buying puts means youre a pessimist. But those who have followed me for a couple of years now know that I call it as I see it. As Fleckenstein often says, I'm often wrong but I'm always confident in what I say. So while I may sound confident in the setups I see tonight, understand that I'm just one analyst of many that you should be following (even here at OIN or on the Market Monitor) so as to form your own opinion. After all, it is your money.

If you don't like bearish reports you can stop reading here. But I see a bearish setup in this market the likes of which I haven't seen since 2000. Playing the short side is more difficult than playing the long side and it has a lot to do with bear market rallies that stops many shorts out of their positions only to reverse hard to the downside again. You don't see that kind of price action in a bull market. But the setup I see in front of us could make shorts more money in a year than bulls have made in the past 4 years. If you don't like playing the short side of this market then at least go into profit protection mode and move to cash soon, as in very soon. As I mentioned above, buying some put options for insurance against your portfolio's losses has never been cheaper. Some December puts should work very nicely.

Advertisement

Get 50% of your trades wrong and still make big profits in the stock market!

We'll show you exactly when to buy and sell stocks with a proven method used by professional traders to manage risk, nail short-term gains, and pile up amazing profits. Master short-term trading with our expert analysis, detailed technical charts, and precise trade setups including specific entry, stop, and target prices. Now Completely FREE for 30 Days!

CLICK HERE: http://www.hotstix.com/public/default.asp?aid=10383

There are many who are speculating that the market will be held up into the elections. I have to say I've been surprised at the inability for this market to sell off. Bearish divergences have been on the charts since, well, since 2004 but it's getting noticeably weaker lately. The advancing-declining volume and issues shows less and less participation at each new high. The semis are simply not in the game. And when the semis are heading south while the big caps are chugging higher that says smart money is not buying into the new highs, literally.

But the effort to hold the market up could continue for several more weeks. Just getting close to the election would be good enough since not enough damage could occur by election (maybe). As a follower of Elliott Wave patterns there's a way for me to consider the possibility of a strong rally tomorrow. And if that happens I firmly believe we'll see a rally last at least into the end of this month, perhaps as a choppy rally, with SPX 1345 as an upside target. But if we get a bounce followed by new lows below today's then let the bell toll for those bulls who refuse to get out of their long positions.

Before getting to the charts to show what I'm looking at, let's review today's economic reports. The weekly unemployment numbers showed a rise of 7K to 318K. The 4-week average of new claims stayed steady at 315K. The number of continuing claims fell by 29K to 2.4M and the 4-week average dropped to 2.47M which puts it back down to the level seen at the beginning of the month.

The Leading Economic Indicators (LEI) fell -0.2% in August, making it the 4th time in the past 5 months to have fallen. It also fell in July. This suggests sluggish growth at best into the end of the year. Of the 10 indicators that make up the LEI, 3 were up--stock prices, money supply (gee, I wonder who could be doing that) and orders for consumer goods. Thank goodness for the mighty consumer still. But consumer expectations, building permits and the factory workweek dropped the biggest. The rest were down slightly--interest rate spread, jobless claims, vendor performance and orders for capital goods.

The Philly Fed survey came out at 12:00 and the market started breaking down right after that. The Philly Fed diffusion index dropped significantly--down -0.4% vs. expectations for +14.4%. This was a drop from August's +18.5%. This was the first time this index went negative since April 2003 which of course was right after the bottom in the market (March 2003). Readings below zero indicate contraction and that's what started the "R" word to start spreading around again. Economic growth is slowing fast and inflation is hanging on. For those who were around in the 1970's and remember the painful times of stagflation, that's where we could be headed again. It's tough for the Fed to fight that one--they'd be stuck between a rock and a hard place.

The new orders index dropped to -1.3 from 15.7 and shipments dropped -6.8 from 22.3. Prices paid index dropped to 38.1 from 45.3 while the employment index rose slightly to 10.7 from 8.2.

DOW chart, Daily

The DOW continues to press against the top of its ascending wedge but not able to make more headway than that. And each new high is being met with less enthusiasm as measured by market breadth. The bearish divergences at new highs is usually a very good indicator that the bearish interpretation of this pattern is the correct one. The Elliott wave count that have for the internal structure shows it could be complete at today's high. There's also the possibility that today's pullback was just a deep correction to this week's rally off Tuesday's low. If that's the case then the market needs to rally hard tomorrow. If we've seen the high for this pattern then we should see a bounce (assuming we'll get one tomorrow) that then leads to new lows.

The DOW came down and touched its uptrend line from July today at 11500. That's the line the bulls need to defend. If the DOW breaks that and then breaks Tuesday's low (11480) then that will be confirmation of the break down from this pattern. Ascending wedges (and descending wedges) tend to retrace the wedge relatively quickly and that would mean a drop below July's low and it could happen in a matter of weeks vs. the 2 months it took to build this wedge. The bigger EW pattern tells me we're perched on the edge of a cliff. You'll recall the chart I showed a couple of weeks ago showing the relationship between the housing index vs. the S&P 500 (lagged 12 months). That chart and my EW count suggest we're in for a nasty decline very soon.

SPX chart, Daily

The SPX sports the exact same bearish ascending wedge as the DOW. A retest of the May high also occurred. Like the DOW, if today's pullback is followed by a strong thrust higher tomorrow (and it has to happen tomorrow) then we could see a push up to a Gann and Fib target of 1345. It might not happen in a quick move though but instead be a choppy ride higher. That would tell me it's the last leg up as smart money sells into it. By its wedge pattern, and previous highs and lows, SPX could find support around 1313 whereas the DOW will show a break down by that point. So there's enough of a difference to cause some question as to when we'd have a sell signal. A break below SPX 1308 would tell me to short every bounce in your favorite index.

Nasdaq chart, Daily

The COMP is struggling near the top of its steep parallel up-channel for price action since the August low. It's also at the broken uptrend line from August 2004 where it last failed a retest in late June. While this one could press higher as well, it's looking very vulnerable to a sell off here. The QQQQ chart looks exactly the same.

SMH index, Daily chart

The semis have been weaker during the whole summer rally and have now started to sell off before the rest of the market. That's usually very telling--they're the canary in the coal mine and I think the canary just fell off its perch. It's looking at me with sorrowful eyes while clutching its throat. I can't quite figure out if it was a bad seed or what. Bulls should heed the warning on this one if it breaks its uptrend line from July, currently just below where it closed today.

BIX banking index, Daily chart

The banks look almost bullish here, but only if it survives a retest of its broken downtrend line (closed on it today). If it drops back down below the line then it was just a bull trap head fake to the upside. A failed break out usually results in a whip to the downside as all the bulls scramble out the one narrow exit door. But if the banks turn around and head higher I would expect to see the same in the DOW and SPX and I would abandon attempts at the short side until at least the end of the month.

Securities broker index, Daily chart

The brokers also pushed higher than I thought they'd go, and there's not much in the way of bearish divergences to tell me I should be looking to short this index. It did however get near testing its broken uptrend line from May 2005. This index loves to test previously broken support and has been consistently doing that since the April high. This could be just another test before turning back lower. That's my expectation but we'll need price to turn back down now to give some clues in that regard.

U.S. Home Construction Index chart, DJUSHB, Daily

The housing index has been consolidating since its July low and it looks like a bear flag. My EW count says it is in fact a bear flag and that we should see this continue lower once it's done (and the last high in September should have been it). This should get down to, or below, 500 before another consolidation.

OOil chart, November contract, Daily

I've been saying for a while now that I expected oil prices to decline based on my belief that we'll see an economic slowdown on a global basis. This was based on EW analysis that calls for a deep retracement in the stock market which happens to be the best reflection of social mood that we have. With a downturn in social mood (which we're seeing) we'll see a downturn in the economy. Lack of demand for oil will result in a drop in oil prices. This has nothing to do with the fundamentals about oil which I know next to nothing about (although thanks to Jim and his superb research and analysis I'm far more educated this year). It has everything to do with EW analysis and it tells me oil has further to go to the downside before finding firmer support. I could be all washed up on this but this is how I'm calling it. And if we get the 5-wave move down as I've depicted it will mean we've seen the high in oil for a long time (a few years anyway).

Oil Index chart, Daily

The oil index is mirroring the oil price. The break of the 200-dma followed by a failed retest of it looks bearish. We might have completed the 3rd wave down which would call for a sideways/up consolidation and the short term charts are starting to show bullish divergences so we might not be far from a bounce. It's not one I'd want to buy but I wouldn't want to short this index from here, not yet anyway.

Transportation Index chart, TRAN, Daily

A retest of the May high for DOW and SPX is not being accompanied by a test of the high for the TRAN. That's bearish non-confirmation. The Trannies struggled with the confluence of its 50, 100 and 200 moving averages and now looks ready to pullback after a failed test of that resistance. It looks like another bear flag about to break down.

U.S. Dollar chart, Daily

The US dollar chart is starting to give me bigger bearish feelings here. For a while I though a brief consolidation would be followed by a move to minor new low--targeting around $83--to be followed by a bigger bounce. Now I'm getting the impression that the sideways coil is the continuation pattern for the move down from November 2005. Two equal legs down from last year's high would take the dollar down to around $77. That should theoretically be very good for gold. But so far I'm not seeing that much I like bullish about gold.

Gold chart, December contract, Daily

I view the current small consolidation as bearish and am looking for lower prices for gold. Using Fib projections I see a downside target of $506. I've drawn in a trend line across the lows in March and June of this year and if I squint I can see a H&S pattern there (albeit with a rather large right shoulder, so it's a humpback H&S). The downside price target from that is closer to $400 and that matches a Fib projection for the 2nd leg down to be 162% of the 1st leg down (common, especially in commodities). I don't know if that will happen from here but without considering the US dollar or any of the economic fundamentals that should drive gold higher, my opinion on gold is bearish for now.

Results of today's economic reports include the following:

This chart (from Yahoo's economic calendar) doesn't show any significant economic reports tomorrow. Jane reported on the Market Monitor at the end of the day that we'll have the August Chicago Fed National Activity Index (Previous: -0.12).

After the close JDSU (2.15 -0.03) announced its approval for a 1-for-8 reverse stock split. That would get their stock price back up to $17.20 based on today's closing price. Of course stock holders would have one-eighth of the number of shares they currently have. Expect many many more tech companies to do this in the next year, especially those that were hammered down during 2000-2002 and haven't really recovered much since then.

Taking a look at my weekly SPX chart to see how it's doing, again there's not much change.

SPX chart, Weekly, More Immediately Bearish

The market is stubbornly holding onto its highs but not making much headway on a weekly basis. The weekly oscillators into overbought and/or curling offers more evidence that the bearish ascending wedges will likely result in a significant price correction. For those who like to play the short side we should have a good opportunity right around the corner. But the real money maker for short players will be next year after a bounce into the new year.

For now I'd play it carefully tomorrow and into next week. The bearish setup is there but we'll have to see a bounce followed by a move to new lows below today's. That would be a strong sell signal for me and I'd be looking to short the bounces after that. But if tomorrow reverses today's losses then I'd be inclined to scalp the long side and watching carefully for the end of the run.

I say scalping long plays because I believe the risks are now on the bulls' side. Surprises are likely to be to the downside now. With the market priced to perfection it won't take much to see a fast exit and the exit door gets mighty narrow when that happens. For those of you who have traded fast markets you know about the terrible fills you can get. If you want out quickly don't even hesitate to use a market order. If you want in, use a limit order. It's a time to be very careful and if you can't watch the market intraday, and you're long the market, be sure you're using some protection. Nobody likes nasty surprises when you don't use protection.

Good luck and I'll see you next Thursday and on the Market Monitor tomorrow.
 

New Plays

Most Recent Plays

New Plays
Long Plays
Short Plays
None CSX
  NTLI
  WGII

New Long Plays

None today.
 

New Short Plays

CSX Corp. - CSX - close: 30.55 change: -0.75 stop: 31.26

Company Description:
CSX Corporation, based in Jacksonville, Fla., is one of the leading transportation companies, providing rail, intermodal and rail-to-truck transload services. The company's transportation network spans 21,000 miles, with service to 23 eastern states and the District of Columbia, and connects to more than 70 ocean, river and lake ports. (source: company press release or website)

Why We Like It:
In spite of plunging oil prices the Dow Jones transportation sector has been unable to breakout over resistance in the 4475-45.00 region and its 200-dma. Today the transport index lost 1.5% and broke down under its 50-dma. The Dow Jones railroad index produced a similar decline and breakdown. Shares of CSX followed with a 2.3% loss and its own slide under the 50-dma. Several railroad stocks, including CSX, had produced a pretty impressive bullish breakout just two weeks ago but that rally has reversed and shares of CSX look poised to begin a new leg lower. We want to see a breakdown under round-number support at $30.00 and its 200-dma before initiating positions. Thus we're suggesting a trigger to open bearish plays at $29.75. If triggered our target is the $27.00-26.00 range. We do not want to hold over the mid October earnings report so that gives us about four weeks.

Picked on September xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/17/06 (confirmed)
Average Daily Volume: 4.5 million

---

NTL Inc. - NTLI - close: 25.01 chg: -0.23 stop: 26.05

Company Description:
On 4 March 2006 NTL Incorporated completed a merger with Telewest Global, Inc., creating the UK's largest provider of residential broadband and the UK's leading provider of triple play services. The company recently completed its acquisition of Virgin Mobile. NTL offers a wide range of communications and entertainment services to more than 5 million residential customers. ntl:Telewest networks can service more than 12 million homes - 50% of UK households. (source: company press release or website)

Why We Like It:
Several days ago NTLI broke down from a narrow five-week trading range. The recent bounce has failed at old support/new resistance near $26.00. This looks like a relatively low risk entry point to short the stock. We're going to stock our stop loss just above resistance (26.05) and we'll aim for a decline toward support in the $21.00-20.00 range. More conservative traders may want to exit near $23.00 (see chart). We do not want to hold over the early November earnings report.

Picked on September 21 at $25.01
Change since picked: + 0.00
Earnings Date 11/03/06 (unconfirmed)
Average Daily Volume: 2.5 million

---

Washington Group Intl. - WGII - cls: 55.98 chg: -0.72 stop: 57.25

Company Description:
Washington Group International provides the talent, innovation, and proven performance to deliver integrated engineering, construction, and management solutions for businesses and governments worldwide. (source: company press release or website)

Why We Like It:
The rally from WGII's June lows has run into trouble with resistance near $60.00. The stock has struggled with resistance in the $60 region since it first climbed to this level back in January 2006. Now the momentum indicators are suggesting that WGII has run out of gas and the next move will be lower. The stock has already broken its 3 1/2 month trendline of support and its 50-dma so more aggressive traders may want to open positions right now. We are suggesting that readers wait for a breakdown under its 200-dma. Therefore we're using a trigger at $55.45. You may want to wait for a decline under $55.00. Our target is the $51.00-50.00 range. We do not want to hold over the November earnings report.

Picked on September xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 11/06/06 (unconfirmed)
Average Daily Volume: 242 thousand
 

Play Updates

Updates On Latest Picks

3 BODY-->

Long Play Updates

Advance Auto Parts - AAP - cls: 32.82 chg: -0.41 stop: 31.89

The market pulled back on Thursday and shares of AAP followed lower after testing overhead resistance at its 100-dma yesterday. There is a chance that AAP will pull back again toward support near $32.00. We would wait and watch for another bounce from $32.00 before considering new bullish positions. Then again our market outlook isn't that optimistic for the next few weeks and we'd think twice before starting any new long plays. Our target remains the $35.80-36.00 range. We do not want to hold over the early November earnings report for AAP.

Picked on September 12 at $32.93
Change since picked: - 0.11
Earnings Date 11/02/06 (unconfirmed)
Average Daily Volume: 1.4 million

---

Hovnanian - HOV - close: 28.11 change: -0.72 stop: 27.74

Housing stocks continued to pull back on Thursday. The DJUSHB home construction index lost 2% and HOV fell 2.5%. Shares of HOV continue to struggle with technical resistance at its falling 100-dma. Fortunately, we're still sitting on the sidelines waiting for a bullish breakout over $30.00. Our suggested entry point is a trigger at $30.11. If we're triggered at $30.11 our target is the $34-35 range. Our time frame is six to eight weeks.

Picked on September xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 09/06/06 (confirmed)
Average Daily Volume: 1.6 million

---

Intl. Game Tech. - IGT - close: 39.49 chg: -0.02 stop: 38.24

Shares of IGT continued to consolidate sideways in a narrow range. The lack of participation in the market's weakness could be see as a show of relative strength for IGT. However, we're still worried about what looks like a bull trap with the failed rally over $40 a week ago. Wait for a move over $40.32 before considering new bullish positions. Although we have been suggesting that more aggressive traders consider buying a bounce from $39 or its 10-dma. Our target is the $44.00-45.00 range. We do not want to hold over the early November earnings report.

Picked on September 17 at $40.26
Change since picked: - 0.77
Earnings Date 11/02/06 (unconfirmed)
Average Daily Volume: 2.2 million

---

Regal Beloite - RBC - close: 44.04 chg: -0.85 stop: 42.85 *new*

Watch out! We have to wave the warning flag yet again with RBC. This is the second time the stock has rallied past resistance near $45.00 only to reverse lower into a potential sell signal. Shares even traded over our new higher entry point at $45.25. Volume on today's failed rally and bearish engulfing candlestick pattern was above average, which is not a good sign. The next move will probably be lower but so far RBC has been trading with a bullish pattern of higher lows. Therefore we're going to raise our stop loss to $42.85, which is a few cents under the Tuesday low. We're not suggesting new bullish positions with RBC under $45.00.

Picked on September 15 at $45.11
Change since picked: - 1.07
Earnings Date 10/26/06 (unconfirmed)
Average Daily Volume: 291 thousand

---

United Tech. - UTX - close: 62.90 chg: -1.00 stop: 61.99

As a Dow-component, UTX's 1.5% decline was a contributing factor to the DJIA's loss. Volume was above average on today's weakness, which is not a good sign. Short-term momentum indicators are turning bearish. More conservative traders may want to exit early cut their losses or raise their stop toward today's low (62.50). We're not suggesting new positions.

Picked on September 10 at $63.34
Change since picked: - 0.44
Earnings Date 10/17/06 (unconfirmed)
Average Daily Volume: 3.5 million

---

WebEx Comm. - WEBX - close: 38.23 chg: -0.46 stop: 35.99 *new*

Internet stocks were some of the worst performers today. The INX Internet index lost 2.4%. Shares of WEBX only lost 1.18% but the technical indicators are starting to turn bearish due to the stock's waning momentum. More conservative traders may want to reduce their risk by raising their stop loss toward $37.50, which has been short-term support over the last week. We're going to adjust our stop to $35.99. We are not suggesting new positions at this time. Our target remains the $42.50-44.00 range. The P&F chart is very positive with a bullish triangle breakout buy signal.

Picked on September 12 at $38.49
Change since picked: - 0.26
Earnings Date 10/25/06 (unconfirmed)
Average Daily Volume: 625 thousand
 

Short Play Updates

Charlotte Russe - CHIC - close: 25.89 chg: -0.38 stop: 27.05

Traders on your mark! Get set! Shares of CHIC continued to slip today and shares lost 1.44% and closed under potential support at $26.00 and its 50-dma. This looks like a new sell signal to short the stock. Aggressive traders may want to open positions now. We're still waiting for CHIC to hit our trigger at $25.75. The stock looks poised to begin a new leg lower. There is probably some support near $24.00 and its 100-dma and then additional support near $22.00 and its rising 200-dma. If triggered our target is the $22.10-22.00 range. FYI: The latest (August) data puts short interest at 6.9% of CHIC's 22.2 million-share float.

Picked on September xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/19/06 (unconfirmed)
Average Daily Volume: 497 thousand

---

Commercial Metals - CMC - close: 20.00 chg: -0.37 stop: 21.55

Our bearish play in CMC is now open. The stock has been showing some relative weakness the last couple of days and today shares broke down (intraday) under support at $20.00. The intraday low was $19.69 and our suggested entry point to short CMC was at $19.90. Our target is the $17.50-17.00 range. We do not want to hold over the late October earnings report.

Picked on September 21 at $19.90
Change since picked: + 0.10
Earnings Date 10/24/06 (unconfirmed)
Average Daily Volume: 1.5 million

---

Hormel Foods - HRL - close: 36.25 chg: +0.08 stop: 36.51

HRL displayed relative strength for the second day in a row. We're not suggesting new positions at this time. More conservative traders may want to exit early or tighten their stops.

Picked on August 31 at $36.65
Change since picked: - 0.40
Earnings Date 11/23/06 (unconfirmed)
Average Daily Volume: 331 thousand

---

Tessera Tech. - TSRA - close: 31.54 chg: -0.78 stop: 32.81 *new*

Good news! The rally in TSRA failed at $32.80 this morning and the stock produced a bearish reversal with another decline under its rising 50-dma. This looks like a new entry point to short the stock. However, more conservative traders may want to wait for another drop back under support at the $31.00 level. Keep an eye on the SOX semiconductor index, which looks vulnerable to more selling but still has some support at the 450 level. We're going to adjust our stop loss to $32.81. Our target is the $26.00-25.00 range. FYI: Readers should note that the latest (August) data puts short interest at 11.7% of the stock's 42.8 million-share float. That is a relatively high amount of short interest and makes this a higher-risk play.

Picked on September 19 at $30.95
Change since picked: + 0.59
Earnings Date 10/31/06 (unconfirmed)
Average Daily Volume: 634 thousand
 

Closed Long Plays

Elk Corp. - ELK - close: 28.30 change: -0.55 stop: 27.95

We are calling it quits on ELK and suggesting an early exit. The stock erased yesterday's gains with a 1.9% loss today. Volume evaporated on today's decline but that didn't stop the MACD on the daily chart from producing a new sell signal. More aggressive traders may want to let it ride since ELK held at short-term support near $28.00.

Picked on August 22 at $27.10
Change since picked: + 1.20
Earnings Date 08/17/06 (confirmed)
Average Daily Volume: 245 thousand
 

Closed Short Plays

None
 

Today's Newsletter Notes: Market Wrap by Keene H. Little and all other plays and content by the Option Investor staff.

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.

To ensure you continue to receive email from Option Investor please add "support@optioninvestor.com"

Option Investor Inc
PO Box 630350
Littleton, CO 80163

E-Mail Format Newsletter Archives