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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (11449)	8/19/2002 4:12:01 PM
From: Dave Gore	Respond to of 16631

NOTE: I'll be in and out sporadically and may or may not be posting for a few days. Happy Trading! I'll say "Hi" to San Francisco for ya.

To: Dave Gore who wrote (11449)	8/19/2002 4:29:13 PM
From: Bruce A. Brotnov	Read Replies (2) \| Respond to of 16631

Dave, what conclusion, if any, do you draw from the Option report today? Schaeffer's Midday Options Update Features AmeriCredit (NYSE: ACF) Updated: Monday, August 19, 2002 02:28 PM ET Printer-friendly version CINCINNATI, Aug. 19 /PRNewswire/ -- Today's Schaeffer's Midday Options Update features AmeriCredit (NYSE: ACF, news, msgs). The Midday Options Update contains a brief commentary on the day's most notable activity and a table listing the most active calls and puts for the day. The Midday Options Update is published every day at www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. For additional information about this report or to have it delivered to you free via email every day click on the following link: schaeffersresearch.com (Photo: newscom.com ) Schaeffer's Midday Options Update: The retail sector is helping to lift the market higher this afternoon. Home improvement giant Lowe's reported second-quarter earnings of 59 cents per share this morning, sweeping past the Street estimate of 54 cents per share. The company also stated that it expects third-quarter sales to improve by 18- to-19 percent. In economic news, the July leading economic indicator dropped by 0.4 percent, as the Street had expected. Investors have also shrugged off cautious statements from two brokerage firms that cut their earnings-per-share estimates. At 12:19 p.m. eastern time, the Dow Jones Industrial Average (INDU - 8923.2) and the S&P 500 Index (SPX - 943.86) is trading higher by 1.65 and 1.62 percent, respectively. The Nasdaq Composite (COMP - 1383.7) is up by 1.67 percent. On the options front, at 12:21 p.m., total equity call volume checked in at 1,018,654 while total equity put volume numbered 534,516. The composite put/call ratio across all exchanges is 0.52. Breaking out the numbers a bit further, the CBOE put/call ratio is sitting at 0.44. AmeriCredit makes an appearance on the most-active put list this afternoon, as investors flock to the equity's September 7.50 put. This option has seen more than 2,000 contracts changed hands. Prior to today's activity, open interest stood at only 86 contracts. A block of 2,000 contracts changed hands this afternoon at a bid price of 0.25. This means that the investor expects the shares to close below the 7.50 strike by September expiration. Sentiment has been growing more negative toward the shares. ACF's Schaeffer's put/call open interest ratio sits at 1.41, as puts outnumber calls in the front three months of options. In addition, the number of ACF shares sold short jumped 24.6 percent over the more recent reporting period to 23.3 million. At the equity's average daily trading volume, all short positions can be covered in just over nine days of trading. From a technical perspective, the stock has been following its 10-day and 20-day moving averages lower since late April. The equity has now broken above its 10-day trendline, but must now contend with resistance at its 20-day moving average. Click the following link to see the Daily Chart of ACF since April 2002 with 10-Day and 20-Day Moving Averages: schaeffersresearch.com The best way to take advantage of the timely Schaeffer commentaries is to sign up to receive their free e-newsletters - Opening View, Midday Report, Market Recap and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day: schaeffersresearch.com About Schaeffer's Investment Research ( www.SchaeffersResearch.com ) Schaeffer's Investment Research, founded by Bernie Schaeffer in 1981, is a diversified financial information and trading resources company with subscribers in over 110 countries. It publishes Bernie Schaeffer's Option Advisor, the nation's leading subscription newsletter devoted to options, as well as many other educational, bulletin and alert services. The firm's website, www.SchaeffersResearch.com , is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's. Contact: Tom Godich of Schaeffer's, +1-513-589-3800, pressrelease@sir-inc.com . MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE Schaeffer's Investment Research CONTACT: Tom Godich of Schaeffer's, +1-513-589-3800, pressrelease@sir-inc.com