HOMEPAGE NEWSLETTERS CORPORATE PROFILES SUBSCRIPTION PHONE SERVICE HOTLINE


S A ADVISORY

April - May 2002
Newsletter

CONTENTS
Important: DISCLAIMER
Market Comment
S.A. Advisory Phone Service
New Micro-Cap Recommendation - Emtec
New Buy Recommendation - Providian Financial Corp.
New Portfolio: Accounting Paranoid Portfolio
Micro-Cap Portfolio
Russian Portfolio
NYSE Orphan Portfolio
Tech Explosion Portfolio

DISCLAIMER

Disclaimer: SA Advisory usually buys all recommendations prior to phone service, e-mail and newsletter recommendation on mentioned securities. The editor may buy, hold or sell positions in all securities at any time. The portfolios are all hypothetical in nature SA Advisory's portfolios are geared toward sophisticated investors aiming for short, medium and long-term capital gains. By nature, the editor is a stock trader and his trading habits may vary at his own discretion. Most, if not all, recommendations are based upon strict fundamental analysis. Revenue and earnings estimates are the foundation for our recommendations. The estimates result from management discussion. We do not intend to misinform, mislead or hype our readers. It is prudent for all investors to review all filings with the SEC (10Q & 10K) and contact management before investing. Investing in securities are inherent to risks to your financial health. If we are ever paid to produce a corporate profile, full disclosure will be made. WE HAVE NOT BEEN PAID FOR ANY OF OUR RECOMMENDATIONS.

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S. A. Advisory celebrated its 19th 

Birthday in print during February, 2002

April 3, 2002

dot .coms = dow.coms 

It is in our opinion that the NASDAQ will begin to outperform the Dow!

We believe that with the recent slew of positive economic numbers, such as the revised GDP, racy consumer spending and bullish consumer sentiment and the limited ability for the overpriced Dow to advance, does not bring a smile to our ZOLOLT induced personality.

The NASDAQ, on the other hand, which has been gasping for air during the past two years, has uncoupled itself and appears to think that 2000 is better than 1600 concerning the famed composite! 

The wonderful earnings fair begins in earnest within days and "high" hopes encompass the Dow, while less than nothing is the overall theme of the NASDAQ. Any glimmer of hope radiating from the tech ladened slaughter house should rally these pedigrees.

The Dow, on the other hand, with its limited growth and lofty valuations, may resemble the Dot.coms of 2000, only will be renamed the Dow.coms.

The Middle East nightmare, of course, weighs heavy on the whole market, and the current environment is not without risk.

Yours truly,

William Velmer, Editor


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HOMEPAGE NEWSLETTERS CORPORATE PROFILES SUBSCRIPTION PHONE SERVICE HOTLINE


S A ADVISORY