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To: Les H who wrote (8904)	10/17/2003 8:33:05 AM
From: pallmer	Read Replies (1) \| Respond to of 29596

Daily Report October 17th, 2003 Dear Member, -Stock Indices: Nasdaq Comp, DJI, S&P500 The positive economic data confirms the economic recovery, but was limited with the negative impact of IBM and Caterpillar. The buyers and the sellers played tug of war all day with low volume. If you are on the side of the mid and long term view, the economic situation seems to be more prospective for the continuation of a rise. For the short term the valuation for the stocks are too high and involves profit taking. The buyers are timid to buy at such high levels and the sellers are hesitant to sell over the data for an economic recovery. This situation confirms a little bit more of the wedge scenario that we support here. Ideally a correction of 2 to 3 days then followed by a new upward rise towards the medium term objectives to 2000/2050 for the Nasdaq, 1080/1100 for the S&P500 and 10000 for the Dow. The chart of a bearish short term reversal from Wednesday (new high followed by a close on the low of the day) shows a consolidation to come for the short term. Confirmation of the correction is below 1920 for the Nasdaq, 1040 for the S&P500 and 9700 for the Dow. The objectives are to 1860/1840 for the Nasdaq, 1025/1021 for the S&P500 and 9540/9500 for the Dow. The highs from Wednesday must remain unbroken for the continuation for the consolidation inside the bullish wedge. The results from Sun Micro fell and the outlook for eBay looks weaker for 2004 will weigh on the trend today and can start the consolidation. The support levels of 1920 for the Nasdaq, 1040 for the S&P500 and 9700 for the Dow will definitely be levels to keep on eye on. Below these levels the short term long positions will have to be sold. It will not be an interesting today on the earnings side but we are looking at the economic data from the real estate market at 8:30am and the U of M confidence index with expectations of 88.1 vs. 87.7. Resistances Short term Nasdaq: 1954, 1966, 1985, 2000, 2050 S&P500: 1052, 1063, 1070, 1080, 1100 Dow: 9850, 9900, 9935, 9970, 10000 Supports Short term Nasdaq: 1930, 1915, 1905, 1872, 1860, 1840 S&P500: 1040, 1023, 1016,1013, 1005, 1000 Dow: 9745, 9700, 9650, 9635, 9584, 9400 Earnings Date Compagnie Symb Time Esti 10/17/03 Peoplesoft Inc PSFT No Time 0.111 Falconbridge Ltd FL.TSX No Time cad 0.238 Rogers Comm RCIb.TSX Bef Mkt cad -0.193 Have a nice day, Jean M Bourgineau

To: Les H who wrote (8904)	10/17/2003 8:51:51 PM
From: Les H	Read Replies (1) \| Respond to of 29596

<font size=2> Market/Sector Breadth Journal: Oct 17, 2003 (3111 stocks) Overall Database _ percent stocks over MA highs/lows highs/lows highs/lows highs/lows _ market 10 d 21 d 50 d 200d 5-days 10-days 20-days 65-days ------------------ ---- ---- ---- ---- ---------- ---------- ---------- -------- _Oct 17 47 67 72 90 260 -1084 211 - 606 167 - 210 122 - 75 _Oct 16 69 77 79 91 901 - 428 791 - 202 606 - 93 458 - 36 _Oct 15 69 75 79 90 725 - 553 639 - 276 491 - 117 371 - 36 _Oct 14 81 80 82 91 1430 - 258 1306 - 90 973 - 58 714 - 21 _Oct 13 82 78 81 91 1456 - 239 1357 - 86 965 - 57 706 - 20 _Oct 10 77 70 77 90 761 - 543 716 - 141 502 - 102 359 - 24 _Oct 9 84 73 78 90 1126 - 283 1048 - 76 674 - 60 487 - 24 _Oct 8 81 68 75 90 723 - 415 620 - 127 404 - 100 287 - 30 _Oct 7 87 73 78 91 1536 - 119 1078 - 81 745 - 57 529 - 18 _Oct 6 83 69 77 90 1723 - 106 1086 - 82 699 - 69 528 - 20 _Oct 3 76 63 75 90 1910 - 106 883 - 91 623 - 73 437 - 22 _Oct 2 57 50 67 89 1272 - 156 510 - 139 373 - 107 264 - 26 _Oct 1 49 46 66 89 1213 - 199 541 - 177 391 - 127 268 - 30 Market Index Breadth S & P 500 _ percent stocks over MA highs/lows highs/lows highs/lows highs/lows _ market 10 d 21 d 50 d 200d 5-days 10-days 20-days 65-days _----------------- ---- ---- ---- ---- ---------- ---------- ---------- -------- _Oct 17 1039 48 69 74 88 43 - 183 35 - 100 26 - 34 20 - 16 _Oct 16 1050 70 78 80 89 170 - 71 153 - 30 122 - 17 89 - 8 _Oct 15 1047 69 76 79 88 144 - 92 133 - 58 114 - 21 84 - 9 _Oct 14 1049 80 81 83 89 249 - 45 232 - 21 186 - 16 133 - 9 _Oct 13 1045 82 80 83 90 262 - 49 254 - 23 195 - 15 144 - 6 _Oct 10 1038 80 75 79 88 140 - 91 137 - 30 97 - 19 69 - 5 _Oct 9 1039 84 77 80 89 209 - 51 202 - 13 136 - 10 95 - 6 _Oct 8 1034 83 74 77 89 122 - 65 113 - 20 77 - 18 49 - 4 _Oct 7 1039 92 79 80 89 292 - 21 228 - 14 156 - 9 99 - 1 _Oct 6 1034 88 77 77 90 299 - 9 212 - 5 131 - 4 89 - 1 _Oct 3 1030 86 72 75 89 354 - 9 173 - 8 115 - 5 72 - 2 _Oct 2 1020 68 55 68 88 245 - 20 112 - 16 81 - 12 55 - 3 _Oct 1 1018 53 49 66 88 270 - 15 106 - 15 72 - 11 43 - 3 Nasdaq 100 _ percent stocks over MA highs/lows highs/lows highs/lows highs/lows _ market 10 d 21 d 50 d 200d 5-days 10-days 20-days 65-days _----------------- ---- ---- ---- ---- ---------- ---------- ---------- -------- _Oct 17 1394 41 66 72 90 1 - 51 1 - 26 0 - 6 0 - 3 _Oct 16 1427 76 81 79 92 37 - 13 37 - 4 23 - 3 19 - 1 _Oct 15 1417 70 80 79 90 25 - 17 24 - 5 19 - 3 12 - 1 _Oct 14 1420 87 84 84 94 52 - 7 52 - 4 31 - 3 20 - 2 _Oct 13 1415 89 80 80 92 58 - 9 56 - 2 33 - 1 25 - 0 _Oct 10 1405 88 76 79 90 41 - 11 40 - 4 25 - 3 17 - 1 _Oct 9 1397 89 76 75 91 39 - 4 37 - 2 19 - 1 15 - 1 _Oct 8 1382 79 64 76 91 29 - 7 27 - 0 14 - 0 7 - 0 _Oct 7 1392 94 76 77 92 62 - 1 41 - 0 25 - 0 17 - 0 _Oct 6 1382 85 68 72 91 63 - 3 39 - 2 18 - 2 10 - 1 _Oct 3 1375 85 63 72 92 78 - 1 24 - 1 15 - 1 8 - 1 _Oct 2 1337 42 35 55 90 37 - 7 7 - 7 3 - 5 2 - 2 _Oct 1 1335 26 27 51 87 33 - 6 5 - 6 4 - 6 2 - 1 S & P 100 _ percent stocks over MA highs/lows highs/lows highs/lows highs/lows _ market 10 d 21 d 50 d 200d 5-days 10-days 20-days 65-days _----------------- ---- ---- ---- ---- ---------- ---------- ---------- -------- _Oct 17 518 49 63 71 81 7 - 36 4 - 25 3 - 8 2 - 5 _Oct 16 523 66 71 76 82 32 - 14 29 - 6 24 - 3 18 - 2 _Oct 15 522 67 69 74 83 24 - 19 22 - 14 21 - 5 12 - 3 _Oct 14 523 79 76 78 85 46 - 11 44 - 5 38 - 5 25 - 3 _Oct 13 521 77 77 79 86 55 - 14 55 - 7 41 - 5 26 - 3 _Oct 10 518 79 75 70 87 29 - 21 29 - 6 20 - 4 13 - 1 _Oct 9 518 83 74 74 87 44 - 13 43 - 2 28 - 2 16 - 2 _Oct 8 516 83 73 72 86 19 - 13 17 - 3 8 - 3 3 - 1 _Oct 7 519 90 75 73 85 59 - 3 50 - 3 34 - 2 18 - 1 _Oct 6 517 87 72 73 85 56 - 2 39 - 2 21 - 2 12 - 1 _Oct 3 515 85 68 67 84 67 - 5 30 - 5 20 - 4 13 - 2 _Oct 2 511 64 51 61 85 44 - 4 18 - 4 14 - 3 10 - 1 _Oct 1 510 48 42 56 83 61 - 3 17 - 3 10 - 2 5 - 1 Semiconductors (125 stocks) _ percent stocks over MA highs/lows highs/lows highs/lows highs/lows _ market SOX 10 d 21 d 50 d 200d 5-days 10-days 20-days 65-days _----------------- ---- ---- ---- ---- ---------- ---------- ---------- -------- _Oct 17 465 53 73 81 98 10 - 40 9 - 13 8 - 2 6 - 0 _Oct 16 480 85 86 86 98 54 - 9 51 - 3 40 - 1 27 - 0 _Oct 15 475 85 86 86 98 52 - 5 50 - 1 39 - 1 27 - 0 _Oct 14 474 87 82 86 98 70 - 11 68 - 3 50 - 2 33 - 0 _Oct 13 468 90 84 85 98 62 - 12 61 - 5 40 - 3 27 - 0 _Oct 10 467 89 76 84 98 49 - 13 48 - 2 26 - 1 11 - 0 _Oct 9 462 92 79 84 98 51 - 3 48 - 2 23 - 2 15 - 2 _Oct 8 457 89 66 85 98 28 - 6 26 - 4 13 - 4 7 - 2 _Oct 7 459 93 72 83 98 89 - 3 51 - 3 23 - 2 17 - 0 _Oct 6 449 92 61 81 98 74 - 0 33 - 0 14 - 0 12 - 0 _Oct 3 449 78 52 80 95 97 - 1 25 - 1 13 - 0 11 - 0 _Oct 2 430 34 20 62 94 42 - 8 4 - 7 3 - 7 1 - 2 _Oct 1 427 17 15 56 94 16 - 13 3 - 13 3 - 12 1 - 2 Networking (93 stocks) _ percent stocks over MA highs/lows highs/lows highs/lows highs/lows _ market NWX 10 d 21 d 50 d 200d 5-days 10-days 20-days 65-days _----------------- ---- ---- ---- ---- ---------- ---------- ---------- -------- _Oct 17 233 42 73 79 97 7 - 41 5 - 22 5 - 4 4 - 1 _Oct 16 237 65 81 82 97 18 - 16 16 - 3 12 - 2 9 - 0 _Oct 15 235 72 80 85 97 14 - 15 12 - 2 8 - 2 6 - 0 _Oct 14 238 90 86 89 97 40 - 6 38 - 1 27 - 0 21 - 0 _Oct 13 238 89 85 89 98 44 - 4 42 - 0 28 - 0 23 - 0 _Oct 10 236 89 77 85 97 31 - 11 30 - 0 18 - 0 11 - 0 _Oct 9 236 94 76 87 97 33 - 2 31 - 0 17 - 0 13 - 0 _Oct 8 233 86 69 84 96 25 - 6 22 - 4 12 - 4 9 - 1 _Oct 7 235 92 74 87 96 52 - 3 28 - 3 16 - 3 14 - 0 _Oct 6 233 89 68 85 96 59 - 3 33 - 2 16 - 2 14 - 0 _Oct 3 229 77 59 85 96 67 - 1 20 - 0 13 - 0 11 - 0 _Oct 2 217 39 41 74 94 33 - 5 8 - 4 6 - 4 5 - 0 _Oct 1 214 23 32 67 92 14 - 10 1 - 8 1 - 3 1 - 0 Biotechnology (104 stocks) _ percent stocks over MA highs/lows highs/lows highs/lows highs/lows _ market BTK 10 d 21 d 50 d 200d 5-days 10-days 20-days 65-days _----------------- ---- ---- ---- ---- ---------- ---------- ---------- -------- _Oct 17 455 29 36 52 85 10 - 60 7 - 49 6 - 26 4 - 8 _Oct 16 471 45 47 64 87 15 - 33 14 - 22 10 - 11 8 - 6 _Oct 15 471 43 49 65 87 15 - 35 15 - 17 10 - 13 7 - 5 _Oct 14 482 73 62 74 89 28 - 15 24 - 6 9 - 4 7 - 2 _Oct 13 480 76 62 73 88 35 - 13 31 - 7 13 - 4 8 - 1 _Oct 10 474 66 52 68 87 21 - 29 16 - 11 9 - 10 7 - 1 _Oct 9 474 75 55 67 88 31 - 17 26 - 5 8 - 5 6 - 1 _Oct 8 468 66 45 64 87 22 - 17 14 - 8 9 - 8 6 - 1 _Oct 7 474 77 52 72 90 47 - 7 18 - 6 12 - 5 11 - 0 _Oct 6 468 64 44 67 89 36 - 6 10 - 4 7 - 4 6 - 0 _Oct 3 470 57 41 72 89 39 - 5 10 - 5 8 - 4 7 - 0 _Oct 2 468 48 38 69 89 49 - 5 11 - 3 8 - 3 7 - 0 _Oct 1 455 25 32 63 87 22 - 20 4 - 18 3 - 12 2 - 2 AIQ market log (buy - sell ratios of signals for stocks >= 7 and ADV >= 75,000) _ Unconfirmed Signals Trend Price Phase _ market DJIA SPX OTC Universe SPX Score Phase Change _---------- ------ ----- ----- -------- -------- ----- ----- ------ _Oct 17 9,722 1039 1912 36 - 64 38 - 62 97 2.06 DOWN _Oct 16 9,792 1050 1950 21 - 79 15 - 85 99 2.09 _Oct 15 9,803 1047 1939 18 - 82 24 - 76 99 2.02 _Oct 14 9,813 1049 1943 12 - 88 17 - 83 100 1.89 _Oct 13 9,764 1045 1933 15 - 85 15 - 85 100 1.71 _Oct 10 9,675 1038 1915 18 - 82 18 - 82 100 1.54 _Oct 9 9,680 1039 1912 17 - 83 12 - 88 99 1.45 _Oct 8 9,631 1034 1894 27 - 73 20 - 80 99 1.33 _Oct 7 9,654 1039 1908 30 - 70 27 - 73 76 1.23 _Oct 6 9,595 1034 1893 46 - 54 36 - 64 44 1.07 _Oct 3 9,572 1030 1880 61 - 39 50 - 50 -28 0.96 _Oct 2 9,488 1020 1836 87 - 13 82 - 18 -57 0.84 _Oct 1 9,469 1018 1832 91 - 9 94 - 6 -44 0.82 UP _ _ Oct 17 _ Weighted Unconfirmed _ Action List Daily Signals _Universe 7 - 93 36 - 64 _S&P 500 (SPX) 5 - 95 38 - 62 _S&P 100 (OEX) 7 - 93 50 - 50 _Nasdaq 100 (NDX) 3 - 97 33 - 67 link to full September data Message 19358016 </font>