Coffee Sipping Big Board Stocks

[EZ2]

anyone here going to take a chance on AOL ???

7/25/2002 09:13 AM
Story provided by PRNewswire



MORNING UPDATE: Man Securities Issues Alerts for MSFT, TYC, and AOL

CHICAGO, Jul 25, 2002 /PRNewswire via COMTEX/ -- Man Securities issues the following Morning Update at 8:30 AM EDT with new PriceWatch Alerts for key stocks.



Before the open ... PriceWatch Alerts for MSFT, TYC, and AOL, Market Overview, Put/Call Alert, FuturesWatch, Today's Economic Calendar, and the Quote Of The Day.

QUOTE OF THE DAY

"That 500 point gain was yesterday. Now some fresh news has come out and we've got to wait until the 14th of August when 1,000 companies have come out and said their accounting systems are in order."

-- Freddie Tulloch of Financial Spreads comments on the requirement that
executives of more than 900 of the largest publicly quoted companies
have until August 14 to swear to the accuracy of their financial
statements or face personal liability to comply with a directive from
the SEC aimed at restoring investor confidence following recent
accounting scandals.

PRICEWATCH ALERTS -- HIGH RETURN COVERED CALL OPTIONS
-- Microsoft Corp.
Last Price 46.23 - SEP 45 CALL OPTION@ $5.00 -> 9.14 % Return assigned*
-- Tyco International Ltd.
Last Price 10.00 - SEP 5 CALL OPTION@ $5.60 -> 13.64 % Return assigned*
-- AOL Time Warner Corp.
Last Price 11.40 - SEP 10 CALL OPTION@ $2.55 -> 12.99% Return assigned*

*For details on these types of investments and to receive a FREE copy of, "The 18 Warning Signs That Tell You When To Dump A Stock", go to: http://www.poweropt.com/mu2 .

MARKET OVERVIEW

Overseas markets seem more focused on yesterday's U.S. equities performance than what futures trading is indicating. Maybe the positive numbers in 12 of the 15 overseas markets that we track can exert a positive influence in futures traders. The current cumulative average return of our overseas benchmarks stands at a plus 2.48 percent. The Frankfurt DAX index is serving as the anchor to the group due to the disappointing Ifo Business Sentiment Survey. Coming in at 89.9 the survey fell short of both June's 91.3 and expectations for 91.0. The June report marks the second consecutive monthly decline as the strengthening euro and declining equities weigh on the largest European economy.

The economic calendar finally offers up a fairly broad range of data today (see below) ranging from jobless claims to health in housing and manufacturing. Before the open June Durable Goods is seen improving by 0.5 percent following on the heels of May's 0.9 percent advance. Continuing strength here is of the utmost importance.

* 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.schaeffersresearch.com/redirect.asp?CODE=GJ01A3&PAGE=1

PUT/CALL ALERT

Equity option activity on the CBOE yesterday had 462,691 put contracts trade compared to 742,692 call contracts. The resultant 0.623 put/call ratio has the 21-day moving average sanding at 0.715. The CBOE Market Volatility Index (VIX - 45.29) dropped by 10.28 percent after peaking at 56.74 and the Nasdaq 100 Trust Volatility Index (QQV - 55.15) fell by 5.35 percent following a peak at 64.31.

FUTURES WATCH

WOW! That's the only way to describe the type of rally I witnessed yesterday. I knew all the components were in place for something like this to happen but I think people just got tired of waiting and anticipating the move. As a result, traders were caught off guard. The S&P futures need to close at or above the 84300 level on the week, which would signal continued upward movement for the following week. The futures markets are a bit lower this morning but that's to be expected after a day like yesterday. There usually isn't a strong follow through after a session like yesterday's, so I'm guessing there could be some downside pressure early in the session. The AOL earnings came out a bit better yesterday after the close but the results are being overshadowed by the news of an SEC investigation concerning some ad revenue to the company. There is a new home sales report this morning at 9:00 Chicago time that could shake this already volatile market up a bit.

*For futures updates from Harry Michas throughout the day see www.manmarketmonitor.com/mu.html .

TODAY'S ECONOMIC CALENDAR
8:30 a.m.: Initial Jobless Claims for the week of July 20 (expect plus
6,000, last minus 28,000).
8:30 a.m.: June Durable Goods (seen as plus 0.5 percent, last plus 0.9
percent).
8:30 a.m.: Second-Quarter Employment Cost Index (look for up 0.9 percent,
last plus 0.8 percent).
10:00 a.m.: DJ-BTM Business Barometer (last plus 0.5 percent).
10:00 a.m.: June Chicago Fed National Activity Index (last minus 0.22).
10:00 a.m.: June Existing Home Sales (plus 0.07 percent, last minus 0.3
percent).
10:00 a.m.: Help-Wanted Index (last 45).
10:00 a.m.: June New Home Sales (minus 0.05 percent, last plus 8.1
percent).

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 NYSE/CBOE/NASD/SIPC (CRD#6731). For more information and a free CD with educational tools to help you invest smarter, see http://www.mansecurities.com/mu.html .

This Morning Update was prepared with data and information provided by:

PowerOptionsPlus.com -- The Best Way To Find, Compare, Analyze, and Make Money On Option Investments -- Get your 14 day FREE trial and five free bonuses at www.Poweropt.com/mu

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 http://www.schaeffersresearch.com/redirect.asp?CODE=GJ01A3&PAGE=1

All stocks and options shown are examples only. These are not recommendations to buy or sell any security. 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.

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SOURCE Man Securities

CONTACT: Michael Lavelle of Man Securities, [phone]



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KEYWORD: Illinois
INDUSTRY KEYWORD: FIN
SUBJECT CODE: INO