Subject: [NEXTEL-1] Wall Street On Nextel-13 of the 28 analysts rate it a "Hold" and four rate it a "Sell"

From: Marcel <[email-masked]>
Date: Thu, 05 Dec 2002 03:01:09 -0500

Wall Street also lacks confidence in the shares, as 13 of the 28 analysts following the
company rate it a "hold" and four rate it a "sell," according to Zacks.
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/12-04-2002/0001852007&EDATE=

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Schaeffer's Option Activity Watch Features NXTL, SGP, and SEBL

SCHAEFFER'S INVESTMENT RESEARCH LOGO

Schaeffer's Investment Research Inc. logo. (PRNewsFoto)[TK]

CINCINNATI, OH USA 07/25/2002

CINCINNATI, Dec. 4 /PRNewswire/ -- Today's Schaeffer's Option Activity
Watch features Nextel Communications (Nasdaq: NXTL), Schering-Plough
(NYSE: SGP), and Siebel Systems (Nasdaq: SEBL). The Option Activity Watch is
a report that takes a closer look at three equities appearing in our most
unusual option activity report from the previous day. The Option Activity
Watch is published on http://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: http://www.schaeffersresearch.com/addinfo .
(Photo: http://www.newscom.com/cgi-bin/prnh/20020725/SCHAEFFERLOGO )

Schaeffer's Option Activity Watch:
1. Nextel Communications (Nasdaq: NXTL) saw a flurry of put activity
yesterday at its January 2003 10 put. Open interest for this back-month
option jumped from 13,197 to 20,521 contracts overnight. A block of 5,000 and
1,250 contracts crossed the tape closest to the bid price at 0.50 while
another block of 1,250 contracts changed hands at 0.55, which was between the
bid and ask prices. Overall, pessimism toward the shares has been on the
rise. NXTL's Schaeffer's put/call open interest ratio (SOIR) has been
steadily climbing since mid-October and currently checks in at 0.62. This
reading is higher than 54 percent of those taken over the past 52 weeks. Wall
Street also lacks confidence in the shares, as 13 of the 28 analysts following
the company rate it a "hold" and four rate it a "sell," according to Zacks.
However, the equity's short interest dropped 13 percent over the most recent
reporting to 86.2 million. At the average daily volume, all the short
positions can be covered in roughly two days of trading. From a technical
perspective, NXTL had been rising neatly along support at its 10-day and 20-
day moving average since October. Unfortunately, the continued weak price
action of the market has carried the shares below these trendlines for the
first time since October 9. The equity has also been climbing on support from
its 10-week moving average since mid-July.
Click the following link to see the Daily Chart of NXTL since September
2002 with 10-Day and 20-Day Moving Averages:
http://www.schaeffersresearch.com/wire?ID=6675 .

2. Drug producer Schering-Plough (NYSE: SGP) had a number of investors
piled into its January 2003 22.50 call on Tuesday, pushing open interest
higher from 12,654 to 17,200 contracts. Options players remain optimistic
about the equity's future prospects, as the stock's SOIR stands at 0.39. This
reading is lower than 85.6 percent of those taken over the past year. While
the number of SGP shares sold short did increase a meager four percent over
the past month, all these positions can be bought back in roughly two days of
trading at the security's average daily trading volume. Brokerage firm
analysts maintain their negative stance toward the company, as 14 of the 26
covering the firm rate it a "hold" and five rate it a "sell," according to
Zacks. After closing the past two weeks above its 10-week and 20-week moving
averages, the equity has dipped back below its 20-week to test support at its
10-week trendline. These intermediate-term moving averages had capped the
shares since mid-December 2001.
Click the following link to see the Weekly Chart of SGP since December
2001 with 10-Week and 20-Week Moving Averages:
http://www.schaeffersresearch.com/wire?ID=6675 .

3. Another company seeing some brisk call trading on Tuesday was Siebel
Systems (Nasdaq: SEBL). The e-business applications software provider had
open interest at its February 12.50 call soar by nearly 4,000 to 4,496
contracts in open interest. Calls easily outnumber puts in the front three
months of options, as the stock's SOIR checks in at 0.18. This reading is
lower than 92.4 percent of those taken over the past 12 months. In addition,
the security's short interest plunged by 22 percent over the most recent
reporting period to 13.2 million shares. It would take less than a day of
trading to cover all the short positions at the equity's average daily trading
volume. Only Wall Street remains skeptical of the shares. According to
Zacks, only seven of the 32 analysts following the company rate it a "buy."
Technically speaking, SEBL continues to battle resistance at the nine level.
This area has halted the shares on a number of occasions. What's more,
additional staunch resistance resides at the 10 level from when the stock
gapped below this level on July 18.
Click the following link to see the Daily Chart of SEBL since June 2002:
http://www.schaeffersresearch.com/wire?ID=6675 .

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About Schaeffer's Investment Research ( http://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, http://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 at Schaeffer's, Phone: 513-589-3800; Email:
[email-masked]

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