Onyx Pharmaceuticals, Inc. (MM) (NASDAQ:ONXX)
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MORNING UPDATE: Man Securities Issues Alerts for GLW, MLNM, EDS,
ONXX, and MGG
CHICAGO, June 8 /PRNewswire/ -- Man Securities issues the following Morning
Update at 8:30 AM EDT with new PriceWatch Alerts for key stocks.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO )
Before the open... PriceWatch Alerts for GLW, MLNM, EDS, ONXX, and MGG, Market
Overview, Today's Economic Calendar, and the Quote Of The Day.
QUOTE OF THE DAY
"Friday's unemployment data confirmed our view that the economy has entered
into a sustainable expansion."
-- Kent Engelke, capital markets strategist, Anderson & Strudwick.
New PriceWatch Alerts for GLW, MLNM, EDS, ONXX, and MGG...
PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS
-- Corning Inc. (NYSE:GLW)
Last Price 12.87 - AUG 12.50 CALL OPTION@ $1.05 -> 5.8 % Return
assigned*
-- Millennium Pharmaceuticals, Inc. (NASDAQ:MLNM)
Last Price 15.02 - JUL 15.00 CALL OPTION@ $0.95 -> 6.6 % Return
assigned*
-- Electronic Data Systems Corp. (NYSE:EDS)
Last Price 17.45 - JUL 17.50 CALL OPTION@ $0.80 -> 5.1 % Return
assigned*
-- Onyx Pharmaceuticals Inc. (NASDAQ:ONXX)
Last Price 40.68 - JUN 40.00 CALL OPTION@ $2.45 -> 4.6 % Return
assigned*
-- MGM MIRAGE (NYSE:MGG)
Last Price 44.84 - SEP 45.00 CALL OPTION@ $2.45 -> 6.2 % Return
assigned*
* To learn more about how to use these alerts and for our FREE report, "The 18
Warning Signs That Tell You When To Dump A Stock", go to:
http://www.investorsobserver.com/mu18
(Note: You may need to copy the link above into your browser then press the
[ENTER] key)
** For the FREE report, "The Secrets of Smart Election Year Investing -
Insights, Stocks, And Strategies." go to:
http://www.investorsobserver.com/FREEelection
NOTE: All stocks and options shown are examples only. These are not
recommendations to buy or sell any security.
MARKET OVERVIEW
Overseas markets are primarily positive with 11 of the 15 markets that we track
above their flat-lines. The cumulative average return, however, is a
relatively flat plus 0.076 percent. The employment picture in Europe's largest
economy continues to plague the German recovery. Despite improving business
sentiment in both manufacturing and services, employers remain hesitant to
hire. This stagnation in the labor force will continue to weigh on the
confidence of the German consumer. In May, the adjusted jobless claims rose by
9,000 on top of the 23,000 suffered in April. The unadjusted jobless rate
stood at 10.3 percent, improving from the 10.7 percent in April. The decrease
in the jobless rate could well be attributed to workers dropping out of the job
search as an exercise in futility.
A bit more economic data today, starting with the weekly reports on the health
of the retailing sector. The ICS-UBS Store Sales Index and the Redbook Retail
Sales for the week ending June 5th is scheduled for release. The prior week
figures stood at minus 0.5 percent and plus 0.5 percent respectively. It might
be of interest to note that the S&P Retail hit an all-time high yesterday at
411.01. At 9:15 a.m., Federal Reserve Chairman Greenspan participates in an
International Monetary Conference panel discussion via satellite in London.
Traders will need to pay attention to any tipping of the Chair's hand on
interest rate policy. At 10:00 a.m., a regional report on the manufacturing
sector via the May Richmond Fed Manufacturing Index. The index was last booked
at plus 13, with any reading greater than zero indicative of expansion.
Be prepared for the investing week ahead with Bernie Schaeffer's FREE Monday
Morning Outlook. For more details and to sign up, go to:
http://www.investorsobserver.com/freemo
DYNAMIC MARKET OPPORTUNITIES
As the NASDAQ stock exchange hovers around the 2,000-point level, it marks a
major psychological point for the index. The last several weeks have been
tough for options traders, with no clear tradable trend to exploit. However,
there is strong resistance between 2,010 and 2,025 and a breakout to 2,020
would be a "call" buying opportunity, with the next resistance at 2,050. That's
according to financial expert Christian DeHaemer at the Red Zone investment
group. Alternatively, a sell off below 1,960 would be a chance to buy "puts",
with support at 1,927. But the sideways action of the market remains
dangerous. DeHaemer has reaped some early rewards for his investors with his
recommendation on AU Optronics on Friday, June 4. The company should benefit
from a report this morning by market research/consultants DisplaySearch. The
company said revenues for 10-inch and larger LCD's rose 14%
quarter-over-quarter and a massive 116% year-over-year during the first quarter
of the year -- much higher than the estimated 102% growth. That sets a new
record high of $9.2 billion. After getting in at $19.40, the stock was up 6.6%
to $20.60 at Monday's close, giving DeHaemer a 6.1% profit in just two trading
days.
The nanotechnology revolution continues to spread across the globe. Christian
DeHaemer has written a comprehensive FREE report. Read it immediately by
following this link: http://www.investorsobserver.com/agora6
TODAY'S ECONOMIC CALENDAR
7:45 a.m.: ICS-UBS Store Sales Index for the week ending June 5 (last
minus 0.5 percent).
8:40 a.m.: Treasury's Snow speaks at Money magazine summit in New York.
8:55 a.m.: Redbook Retail Sales for the week ending June 5 (last plus 0.5
percent).
9:15 a.m.: Federal Reserve Chairman Greenspan participates in
International Monetary Conference panel discussion via
satellite in London.
10:00 a.m.: May Richmond Fed Manufacturing Index (last plus 13).
6:30 p.m.: ABC/Money Magazine Consumer Confidence Index for the week
ending June 5 (last minus 18).
Man Financial Inc is one of the world's major futures and options brokers and
has been recognized as a leading option order execution firm for individuals
and institutions. Member CBOE/NASD/SIPC (CRD#6731). For more information and
a free CD with educational tools to help you invest smarter, see
http://www.investorsobserver.com/mancd
This Morning Update was prepared with data and information provided by:
InvestorsObserver.com -- Better Strategies for Making Money -> For Investors
With a Sense of Humor. Only $1 for your first month plus seven free bonuses
worth over $420, see: http://www.investorsobserver.com/must
247profits.com: You'll get exclusive financial commentary, access to a global
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Schaeffer's Investment Research -- Sign up for your FREE e-weekly, Monday
Morning Outlook, Bernie Schaeffer's look ahead at the markets. Sign Up Now
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PowerOptionsPlus -- The Best Way To Find, Compare, Analyze, and Make Money On
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All stocks and options shown are examples only. These are not recommendations
to buy or sell any security and they do not represent in any way a positive or
negative outlook for any security. Potential returns do not take into account
your trade size, brokerage commissions or taxes which will affect actual
investment returns. Stocks and options involve risk and are not suitable for
all investors and investing in options carries substantial risk. Prior to
buying or selling options, a person must receive a copy of Characteristics and
Risks of Standardized Options available from Sharon at 800-837-6212 or at
http://www.cboe.com/Resources/Intro.asp . Privacy policy available upon
request.
http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO
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DATASOURCE: Man Securities
CONTACT: Michael Lavelle of Man Securities, +1-800-837-6212
Web site: http://www.mansecurities.com/mu.html