Schaeffer's Daily Market Blog Features Garmin, InfoSpace, Verizon Communications, Trimble Navigation, and Corning.

CINCINNATI -- Among the stocks featured in the July 27 edition of Schaeffer's Market Blog are Garmin (NASDAQ:GRMN), InfoSpace (NASDAQ:INSP), Verizon Communications (NYSE:VZ), Trimble Navigation (NASDAQ:TRMB), and Corning (NYSE:GLW). Schaeffer's Market Blog is just one of the many free market commentaries written everyday 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=PROB1M&PAGE=1 .

Schaeffer's Market Blog for Wednesday, July 27, 2005:

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 .

9:26 AM Five Minutes Before the Bell

The S&P 500 Index (SPX) hit a four-year high on Monday, peaking at 1238.36. The last time we saw these levels was in July 2001. The Nasdaq Composite Index hit 2193.2 last Thursday, an area it hasn't visited since June 2001. I asked trader Nick Perry, author of our Trading Floor Blog, which is available to Schaeffer's Gold subscribers, what he thinks of the current Bull/Bear battles.

"It seems to me that the S&P 500 Index is following the lead of the small cap based Russell 2000 (RUT) which broke out to a new all-time high nearly three weeks ago. For some time is seems that many on the Street have urged caution on the small-cap area while displaying a preference for large-cap stocks. In this vein, I think it is worth noting how the "blue-chip" Dow Jones Industrial Average (DJIA) has lagged the other indices and remains trapped in a sideways range. As far as the bull/bear battle, the momentum has clearly been with the small-cap issues and that is the areas where I would continue to focus on."

11:51 AM Garmin Limited Beats Earnings, Raises Guidance

This morning before the market open, Garmin (NASDAQ:GRMN) reported quarterly earnings of 68 cents per share, a dime ahead of Wall Street's estimates. The company also raised earnings guidance for Y05. Technically speaking, the stock has made an impressive run since bottoming at $39.04 on April 29. GRMN is now trading above its major moving averages, a positive sign from a technical perspective. A check on sentiment indicators reveals that short sellers have made large wagers against GRMN. Short interest accounts for more than 10 percent of the equity's float, according to Yahoo! Finance. Short covering could be helping to bolster the gains in GRMN today, as bearish market players rush to buy back their bets against the security. At last check, GRMN was trading $2.01 higher to $54.67 today.

12:19 PM InfoSpace Down Sharply on Lowered Earnings Outlook

According to Yahoo! Finance, InfoSpace (NASDAQ:INSP) is a technology and services company that engages in the development and marketing of Internet and wireless solutions for a range of customers, including consumers, merchants, wireless operators, content brands, and financial institutions. Last night after the market close, INSP reported quarterly earnings that topped analyst expectations by six cents but guided its third-quarter and 2005 earnings outlook lower, as the company lost a contract with Verizon Communications (NYSE:VZ). In addition to these negative developments, the stock also received five analyst downgrades. Not surprisingly, INSP has received a very sharp negative reaction to this news. At last check, INSP was trading more than 30 percent lower to $24.04 today.

12:46 PM Trimble Navigation Drops on Disappointing Earnings

Trimble Navigation (NASDAQ:TRMB) makes navigation systems and software based on the US government-owned global positioning system (GPS) satellite network. The company's surveying, mapping, and marine navigation equipment tracks time, longitude, latitude, and altitude. TRMB also makes embedded devices that track ground vehicle and aircraft fleets, and timing devices that synchronize communications equipment. Its products are used in engineering, construction, asset management, and agricultural applications. Kristin wrote about the stock last week when it broke above former resistance at 41. Within two days, TRMB traded as high as 44.55. It held those gains until today, when the wild card called earnings came into play. The company reported second-quarter revenue that missed analysts' expectations. It also said third-quarter earnings would come in lower than current estimates. The stock is now down more than 15 percent to 36.86, its lowest level since mid-May.

2:41 PM Corning Higher After Earnings Report

Call options continue to be a popular choice on Corning (NYSE:GLW) as the stock makes new four-year highs today at $19.34 in the wake of a strong earnings report last night. With such high call open interest at the 20 strike, this level could act as resistance for the stock. A meaningful break through $20, however, could mean extended gains for the shares.

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

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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 .