Schaeffer's Daily Market Blog Features: NVIDIA, Target, ImClone Systems, U.S. Steel, and Brinker International.

CINCINNATI -- Among the stocks featured in the August 10 edition of Schaeffer's Market Blog are NVIDIA (NASDAQ:NVDA), Target (NYSE:TGT), ImClone Systems (NASDAQ:IMCL), U.S. Steel (NYSE:X), and Brinker International (NYSE:EAT). Schaeffer's Market Blog is just one of the many free market commentaries written every day at www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. The Market Blog is written throughout every trading day by Schaeffer's financial analysts and traders. They are quick insights to the day's most notable market activity from an options perspective. 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/redirect.aspx?CODE=PROB12M&PAGE=1 .

Schaeffer's Market Blog for Thursday, August 10, 2006:

Below are just a few of today's Market Blog entries. Click here to read all of today's Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1 .

Posted 10:13 AM Free Financial Podcasts

Don't forget that many of our observations are available as audio presentations that you can hear on your computer or download from Apple's iTunes Music Store to play on a portable device such as an iPod. Yesterday, Jon Lewis interviewed trader Richard Sparks, who gave a bunch of very interesting stock tips and shared his views on the latest FOMC decision on rates. To see the full menu of observations, please visit http://www.schaeffersresearch.com/commentary/podcasts/.

Later today, Jon Lewis is scheduled to interview our Director of Qualitative Analysis, Chris Johnson.

Posted 9:41 AM The Picture at NVIDIA Looks Good

Graphics-card maker NVIDIA (NASDAQ:NVDA) is in an interesting technical position. On August 3, it jumped over its 80-day and 160-day moving averages, relatively powerful trendlines that just happened to be within a few pennies of each other that day. In fact these moving averages went on to complete a bearish cross, which perhaps rang a few alarm bells on the Street. Another thing that catches my eye is that NVDA was sitting right on its 20-week moving average as we went into the open today. The shares have spent the past two weeks trying to break above this trendline. Already this month, the stock has broken above its 10-month moving average, another sign of strength. Also, NVDA is pushing up against the 25 level. The 10-day trendline is advancing, and might give the stock an additional push.

On our Schaeffer's Equity Scorecard the stock scores 7.0 out of 10, and I'm adding it to my watch list as a possible bullish pick if it breaks above 25. I see a lot of positives in this picture. At last check, NVDA was down about one percent at $24.07.

Posted 11:35 AM Earnings on Target

This morning, Target (NYSE:TGT) reported second-quarter net of $609 million, or 70 cents per share, rising from $540 million (61 cents per share) in the previous year. Sales rose 11 percent on a year-over-year basis to $13.35 billion, while same-store sales expanded 4.6 percent during the reporting period. Analysts, on average, were expecting per-share results of 69 cents on $13.9 billion in revenue.

In other news, the retailer's board has approved a stock buyback program of $5 billion over the last year. As part of this program, the company repurchased $550 million in shares during the second quarter.

Looking forward, TGT Chief Executive stated that: "We continue to believe (TGT) will deliver strong sales and profit performance in 2006 and generate another year of profitable market share growth even in light of the challenges posted by the current economic environment." The firm also noted that earnings in the fourth quarter are now expected to expand faster than Wall Street's target view.

The shares have rallied more than three percent during the first two hours of trading, easing above their 10-day and 20-day moving averages. The stock is still trading below the 47.50 level, which marks the top end of a bearish gap formed on July 18 on the heels of a reduced sales forecast. The stock is also battling its overhead 10-week moving average, which has served as resistance since December of last year.

Posted 11:58 AM Independence Day for ImClone Systems

ImClone Systems (NASDAQ:IMCL) has recoiled more than 13 percent today on heavy volume, pegging a new annual low. After shopping itself around for more than six months, IMCL officials have now decided to remain independent, citing poor offers that did not make a merger possibility terribly attractive. While the company itself is mostly smiles, saying that prospects have brightened, analysts are calling a bluff, guessing that IMCL was unable to find a buyer able to pay a premium, as the biotech company is not currently an "attractive acquisition candidate."

The shares are now flirting with potential technical support near the 28 level, which had helped support IMCL since mid-2003.

In the options pits, the now out-of-the-money August 30 call and the August 30 put are seeing similar volume, as speculative players presumably execute some sort of spread trade. More than 2,000 contracts have traded on both the call and the put, which were previously home to 872 contracts and 11,910 contracts, respectively. Prior to today's trading, Schaeffer's put/call open interest ratio (SOIR) for IMCL weighed in at 0.73, lower than 75 percent of the past year's worth of readings.

Posted 1:02 PM U.S. Steel Faces Key Support Level

U.S. Steel (NYSE:X) has been trending sharply lower over the past month, yet traders seem to be eyeing a rebound in the shares as call options on the equity have amassed 10 times the volume of respective put options thus far today. Perhaps these traders are looking to the $56 level to act as support for the security, which has been a key level for the stock throughout 2006. Nevertheless, a crowded trade on the long side would be reason to think that there is a better chance that the support level will cease to hold this time around.

Posted 1:24 PM Feasting on Brinker International Earnings

American consumers are bellying up to the feedbag at Chili's and Macaroni Grill. The chains managed by Brinker International (NYSE: EAT) met with success in the company's fourth quarter, allowing EAT to bank per-share earnings of 85 cents per share, a 55-percent improvement over last year's figures. Earnings from continuing operations totaled 75 cents per share, a dime above analysts' expectations. Revenue rose to $1.07 billion during the period, falling just shy of Street expectations of $1.09 billion.

The stock has posted a gain of nearly eight percent this afternoon, rallying past its 10-day and 20-day moving averages on above-average volume. The equity's 10-week moving average continues to weigh on the shares, which have not closed above this trendline since late March.

For more information on these stocks or any stock in your portfolio, feel free to visit our Schaeffer's Equity Scorecard feature. Click here to read all of today's Market Blog: http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB13C&PAGE=1.

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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 .