ONXX Onyx Pharmaceuticals, Inc. (MM)

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 network of experts and undiscovered stock alerts. Register NOW for the FREE 247profits e-Dispatch. Go to: http://www.investorsobserver.com/agora 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.investorsobserver.com/freemo PowerOptionsPlus -- The Best Way To Find, Compare, Analyze, and Make Money On Options Investments. For a 14-Day FREE trial and 5 FREE bonuses go to: http://www.poweroptionsplus.com/ 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 http://photoarchive.ap.org/ DATASOURCE: Man Securities CONTACT: Michael Lavelle of Man Securities, +1-800-837-6212 Web site: http://www.mansecurities.com/mu.html

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