Schaeffer's "Behind the Headlines" Highlights the Following Stocks: General Motors, ImClone Systems, P.F. Chang's China Bistro, and Wal-Mart Stores.

CINCINNATI -- Today's "Behind the Headlines" from Schaeffer's Investment Research focuses on General Motors (NYSE:GM), ImClone Systems (NASDAQ:IMCL), P.F. Chang's China Bistro (NASDAQ:PFCB), and Wal-Mart Stores (NYSE:WMT). "Behind the Headlines" is a report that analyzes newsworthy stocks that are generating a lot of attention on Wall Street. "Behind the Headlines" is published on www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research.

Take advantage of the timely Schaeffer commentaries by signing up for their free e-newsletters -- Opening View, Market Recap, and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day and get entered to win an iPod Nano. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROAW13M&PAGE=1.

Behind the Headlines:

General Motors: This morning, General Motors (NYSE:GM) earned an upgrade from Bear Stearns, which adjusted its rating on the stock to "peer perform" from "underperform" (it only took GM gaining 77 percent since mid-April to force this shift of opinion). The broker acknowledged that investors may be putting too much stock into a potential deal with Nissan/Renault but expressed optimism regarding Kirk Kerkorian's desire to increase his holding. The equity pegged a new 52-week high this morning and continues along toward its next technical challenge - its 160-week moving average, which is perched near the site of its July 2005 peak. Helping beneath the surface is ample put support at the 30 strike, which is home to peak open interest in the front-month series with more than 35,000 open puts in residence. Also offering encouragement are the equity's 10-month and 20-month moving averages, which are speeding toward a bullish crossover. GM overcame these long-term trendlines in June.

Click the following link to see a Monthly Chart of GM since October 2003 with 10-Month and 20-Month Moving Averages: http://www.schaeffersresearch.com/wire?ID=17481 .

ImClone Systems: In a filing to the Securities and Exchange Commission, ImClone Systems (NASDAQ:IMCL) noted that billionaire financier and unhappy shareholder Carl Icahn disapproves of a $36-per-share bid from an unnamed "major international pharmaceutical" acquirer. This statement has fueled the rumor mills with hopes of a takeover. The shares have rallied more than seven percent today, stopping short of the 30 mark. This burst of strength could be causing the multitude of short sellers to squirm. As of the most recent reporting period, nearly 17 percent of the equity's float was sold short, amounting to a short-interest ratio of more than seven days to cover. Some of today's upward drive could be attributed to short sellers sprinting for the exits in an attempt to contain losses. It isn't exactly smooth sailing for IMCL ahead, however; the stock has been butting against its 10-week moving average for the past several weeks, with no relief in sight.

Click the following link to see a Weekly Chart of IMCL since March 2006 with 10-Week Moving Average: http://www.schaeffersresearch.com/wire?ID=17481 .

P.F. Chang's China Bistro: Upscale chain eatery P.F. Chang's China Bistro (NASDAQ:PFCB) said this morning that its consolidated third-quarter revenue rose 14 percent to $231 million. Same-store sales dropped half a percent during the period. The Street is certainly taking this report in a bullish light, sending the stock nearly eight percent higher today. This move, on above-average volume, has allowed the stock to regain the control of its 20-day moving average. PFCB is also trading back above its 20-week trendline for only the second time since late January. If this strength proves to be more than an isolated incident, we could see a short squeeze begin to take shape. Short interest accounts for roughly 31 percent of the equity's float. What's more, a short-interest ratio of 13.5 lays a robust foundation of short-covering support.

Click the following link to see a Weekly Chart of PFCB since January 2006 with 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=17481 .

Wal-Mart Stores: Just days ago, Wal-Mart Stores (NYSE:WMT) reported that its September same-store sales rose by 1.8 percent, which was a modest disappointment to the Street. This morning, the retailer reported that same-store sales actually rose by 1.3 percent. WMT officials blamed the rapid change on its monthly reconciliation process. The technical picture for WMT hasn't changed much in months. The stock continues to languish beneath the 50 level; just overhead is resistance at the 80-month moving average. WMT shares are currently testing the 50 mark yet again and may be thwarted back to the lower edge of their trading range, which is defined by the 45 level. Put open interest is a dominant force at this strike, particularly in the October series.

Click the following link to see a Monthly Chart of WMT since October 1999 with 80-Month Moving Average and October's Open-Interest Configuration for WMT: http://www.schaeffersresearch.com/wire?ID=17481 .

The best way to take advantage of the timely Schaeffer commentaries is to sign up to receive their free e-newsletters -- Opening View, Market Recap and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day and get entered to win an iPod Nano. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROAW13M&PAGE=1 1 .

About Schaeffer's Investment Research (www.SchaeffersResearch.com)

Schaeffer's Investment Research, founded by Bernie Schaeffer in 1981, is a financial information and trading resources company. It publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription newsletter. The firm's contrarian approach focuses on stocks with technical and fundamental trends that run counter to investor expectations. 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. Click here for more details about Schaeffer's trading methodology: http://www.SchaeffersResearch.com/method .