InterDigital Inc (IDCC)

[nieves]

MORNING UPDATE: Man Securities Issues Alerts for MXIM, NYAP, WGO, SVM,



CHICAGO, Mar 18, 2003 /PRNewswire via COMTEX/ -- Man Securities issues the following Morning Update at 8:30 AM EST with new PriceWatch Alerts for key stocks.
(Photo: http://www.newscom.com/cgi-bin/prnh/20020214/MANSECLOGO )

Before the open ... PriceWatch Alerts for MXIM, NYAP, WGO, SVM, and IDCC, Put/Call Alert, FuturesWatch, Today's Economic Calendar, and the Quote Of The Day.

QUOTE OF THE DAY

"Now that we're getting some clarity regarding Iraq, it just removes one of the obstacles for anyone who wanted to claim that as an uncertainty facing the market. For months now, anyone who's nervous about the war has already been selling, so in a way, there was no where left to go but up."
-- Christopher Wolfe, strategist, J.P. Morgan

New PriceWatch Alerts for MXIM, NYAP, WGO, SVM, and IDCC ...

PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS -----------
-- Maxim Integrated Products Inc. (Nasdaq: MXIM)
Last Price 39.47 - APR 40 CALL OPTION@ $2.10 -> 7.0 % Return assigned*
-- Network Appliance, Inc. (Nasdaq: NTAP)
Last Price 11.45 - JUN 10 CALL OPTION@ $2.30 -> 9.3 % Return assigned*
-- Winnebago Industries Inc. (NYSE: WGO)
Last Price 29.76 - APR 30 CALL OPTION@ $1.50 -> 6.2 % Return assigned*
-- ServiceMaster Limited Partnership (NYSE: SVM)
Last Price 9.59 - JUL 10 CALL OPTION@$0.35 -> 8.2 % Return assigned*
-- InterDigital Communications Corp. (Nasdaq: IDCC)
Last Price 19.54 - APR 20 CALL OPTION@ $1.55 -> 11.2 % Return
assigned*

*For our report on "5 Dividend paying stocks with double digit returns", go to: www.investorsobserver.com/5div

** Want unbiased, concise, and analytical information on hot biotech companies? Fill out a 5 question survey and it's yours FREE at: www.investorsobserver.com/freebio

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

MARKET OVERVIEW

Overseas markets are demonstrating follow through on yesterday's gains. Currently all 15 of the market that we track are holding onto positive numbers. The cumulative average return on the group stands at a hefty plus 2.772 percent. Turning toward Germany, financial analysts were slightly more optimistic about the outlook on the country's economic growth. The Zentrum fuer Europaeische Wirtschaftsforschung's (ZEW) economic expectations index rose for a third consecutive month to 17.7 in March. That figure compares with a reading of 15.0 for the previous month and expectations for a reading of 13.0. In the primer on how to read this index, a reading above zero signals that more analysts are optimistic than pessimistic on the economic outlook.

If you can tear yourselves away from the news long enough today, we do have some economic data due out. Both weekly reports on the health of the retail sector will be released before the market open. BTM-UBS Warburg Chain Store Sales were last reported at a 0.6 percent rise. Redbook Retail Sales last reported at a minus 0.9 percent. At 8:30 am. February Housing Starts are seen to have declined by 6.5 percent following a meager rise of 0.2 percent in January. The Federal Open Market Committee (FOMC) begins its one-day meeting at 9:00. Any change of interest rates is currently unexpected, but many expect a possible change in bias from "neutral" to "easing." We will all find out together around 2:15 p.m.

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 479,787 put contracts trade compared to 716,463 call contracts (the first time that the CBOE traded over one million contracts in some time). The resultant 0.670 put/call ratio has failed to inhibit the 21-day moving average's journey lower, currently standing at 0.668. The CBOE Market Volatility Index (VIX - 36.46) added 0.36 percent and the Nasdaq 100 Trust Volatility Index (QQV - 41.68) jumped by 5.47 percent. Just in case you did not notice it, both "fear gauges" moved higher on a day when their underlying closed positive. It is typically the other way around, the market rallies and the fear gauges decline. One of two potential scenarios here, this could be the result of the change in options used to create the fear gauges as we head into March options expiration this Friday. It could also indicate that with investors buying this rally, they also increased their demand for put protection should the market falter. This would indicate that a lot of pent-up fear remains in the market and its unwinding could help sustain a brief rally.

FUTURES WATCH

The futures markets look like they're poised to continue the strong upside ride for at least the first part of today's trading session. That same strength is catching on in a broad scale throughout the other markets around the world. Oil prices are lower again this morning, which just adds to the rally in equities. The President's ultimatum has lifted the plague of uncertainty that has been hanging over the market for quite some time. The FOMC meeting was expected to lower rates today but that may change with the events of the past couple of days. This market has all the indications of the beginning of a rally that could have some real substance in the weeks to come. Both the S&P and NASDAQ futures have traded above some key technical levels and are on the verge of penetrating some long term levels as well. The NASDAQ futures have been gaining on the S&P futures for the past few weeks and it looks as if that scenario is picking up momentum along the way. I think the spread between the two markets is the best indicator for the direction of the markets. I'll look for the NASDAQ to start to lose ground to S&P futures in order to watch for a reversal of the current trend.

*For a free Trader's Resource CD click the following link or paste it into your browser address bar: http://www.manfutures.com/mucd.html

TODAY'S ECONOMIC CALENDAR
7:45 a.m.: BTM-UBS Warburg Chain Store Sales for the week of March 15
(last plus 0.6 percent).
8:30 a.m.: February Housing Starts (seen minus 6.5 percent, last plus
0.2 percent).
9:00 a.m.: Federal Open Market Committee meeting begins.
9:00 a.m.: Redbook Retail Sales for the week of March 15 (last minus
0.9 percent).
2:15 p.m.: Federal Open Market Committee decision on interest rates and
comment expected.

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.mansecurities.com/mu.html .

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 $320, see: www.investorsobserver.com/18ways

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 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.

SOURCE Man Securities
CONTACT: Michael Lavelle of Man Securities, [phone]
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URL: http://www.mansecurities.com/mu.html
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KEYWORD: Illinois
INDUSTRY KEYWORD: FIN
PUB
SUBJECT CODE: IN