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To: Frank Griffin who wrote (34349)	10/5/2000 11:06:01 AM
From: PMG	Read Replies (1) \| Respond to of 50167

re AOL: <EMI and Time Warner End Plan to Merge Music Units, Withdraw EU Application EMI Group Plc and Time Warner Inc. called off plans to merge their music businesses. That paves the way for European regulatory clearance of America Online Inc.'s $150 billion purchase of Time Warner, analysts said. More...> (Bloomberg)

To: Frank Griffin who wrote (34349)	10/5/2000 11:13:16 AM
From: active22	Read Replies (1) \| Respond to of 50167

Zero knows nothing about stocks.

To: Frank Griffin who wrote (34349)	10/5/2000 11:35:55 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 50167

I know nothing about stocks..... or for anything much else, for that matter.....<g> GZ

To: Frank Griffin who wrote (34349)	10/6/2000 2:32:11 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Look at this very defensive but a worthy breakout candidate.. Market mavens..writes To follow-up a recent Market Observation on Procter & Gamble (PG – 70), after struggling for the past seven months, this blue-chip name is finally showing signs of a recovery. This afternoon, the stock has elevated by more than one point, attaining its top intraday level since April 25. The shares' ascent began last Thursday when they sprinted over five percent higher after the company said that it saw sales growth of two to three percent for full-year 2001. In addition, PG anticipated full-year 2001 earnings-per-share growth of seven to 10 percent. The security is now approaching the 72-to-73 area, a technically significant range that is close to PG's peak intraday mark during its March 7 bearish gap as well as its April 12 failed rally attempt (see the chart below). A break above this area could have bullish implications for this consumer issue. Chart courtesy of ILX Systems With this improved technical bill of health, PG has now reclaimed its descending 10-month moving average. January was the last month in which the security finished a month higher than this significant long-term trendline (see the chart below). Chart courtesy of ILX Systems From last Thursday through today, the tide has been turning toward optimism on PG. During this five-session time frame, Schaeffer's put/call open interest ratio (SOIR) on the stock has dropped from 1.0 to 0.92 for options expiring within the next three months. Call open interest has ramped up by 4,146 contracts, while put open interest has actually decreased by 147 contracts. If the shares are able to power past the 72-to-73 area, the further unwinding of pessimistic sentiment could give the equity a boost over the near term. For additional information about SOIR, check out Schaeffer's Daily Sentiment. An implied-volatility study of out-of-the-money PG options shows that investors have been able to purchase speculative positions at a reasonable price. For example, the October 75 call has an implied volatility of 29.9 percent, while the October 80 call's implied volatility stands at 33.6 percent. This compares favorably to the issue's one-month historical volatility of 36.1 percent. Furthermore, the stock has displayed its newfound prowess by breaking above peak call open interest in the October series in the form of 19,690 contracts at the 65 strike (see the chart below). This leaves the shares with a path somewhat clear of potential options-related resistance, which might help PG in its drive toward higher ground. Chart courtesy of Schaeffer's Daily Sentiment