Schaeffer's Daily Market Blog Features Intel, Biogen Idec, Amkor Technology, Pacificare Health Systems, and Internet Initiative Japan.

CINCINNATI -- Among the stocks featured in the June 3 edition of Schaeffer's Market Blog are Intel (NASDAQ:INTC), Biogen Idec (NASDAQ:BIIB), Amkor Technology (NASDAQ:AMKR), Pacificare Health Systems (NYSE:PHS), and Internet Initiative Japan (NASDAQ:IIJI). 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 Friday, June 3, 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=PROB3C&PAGE=1.

10:00 AM Two Analysts Raise Views on Intel

Analysts at J.P. Morgan and UBS raised their earnings and revenue forecasts for Intel (NASDAQ:INTC) this morning. A J.P. Morgan analyst raised the earnings forecast from 27 cents per share to 28 cents per share, and raised the revenue forecast from $8.9 billion to $9.05 billion. The UBS analyst raised his forecast for earnings of 29 cents per share on revenue of $9.05 billion, up from 28 cents per share earnings on revenue of $8.9 billion. The sentiment toward INTC has turned more bearish of late. The Schaeffer's put/call open interest ratio (SOIR) stands at 0.76, which is higher than 93 percent of the readings for the past year. Short sellers have also taken a more bearish stance of late by increasing the number of shares sold short by 18 percent during the most recent reporting period.

10:22 AM Biogen Idec Downgraded by Morgan Stanley

Biotech heavyweight Biogen Idec (NASDAQ:BIIB) was downgraded from "overweight" to "equal weight" by analysts at Morgan Stanley. BIIB has been range bound between $38 and $40 for the last month. Much like the price of the stock, the sentiment toward BIIB has been pretty stagnant of late. The Schaeffer's put/call open interest ratio (SOIR) is at 0.56, which ranks lower than 74 percent of the readings for the past year. For the past month, the SOIR has been between 0.51 and 0.63. The reason for the downgrade was concern over the company's new multiple sclerosis drug Avonex. The analyst stated that the drug could face additional risk from a new drug from Novartis.

10:55 AM Amkor Technology Explodes Higher

Amkor Technology (NASDAQ:AMKR) made an explosive move to the upside yesterday after Lehman upgraded AMKR from "underweight" to "equal weight". The stock jumped higher by 18 percent yesterday and so far today it is up another seven percent. Coming into yesterday, the Schaeffer's put/call open interest ratio (SOIR) for AMKR was at 1.33, which is higher than 96 percent of the readings over the past year. It is very rare to see a stock priced under $5 with a SOIR greater than one, simply because there are so few strikes below the current price that put open interest is usually low. The current Zacks ratings show seven "hold" ratings and three "sell" ratings without a single "buy" rating.

11:19 AM Health Stocks are Strong

One group that is having a nice day is HMOs, as several are breaking out to new 52-week highs amid strong volume. This group has been a leader for quite some time, and it's one that I've written bullishly on in the past. Here are just a few stocks that are breaking out to new 52-week highs today and might be worth checking out: Pacificare Health Systems (NYSE:PHS), Unitedhealth Group (UNH), and Wellpoint (WLP).

1:45 PM Internet Initiative Japan Rockets Higher

According to Hoover's, Internet Initiative Japan (NASDAQ:IIJI) provides Internet access and related services such as data center operations and systems integration, mainly for large corporations. Subsidiaries include IIJ Technology (corporate networks), IIJ Media (Web hosting and development), Net Care (support services), and others. IIJ America serves U.S. arms of Japanese corporations. Founded in 1992, IIJI operates one of Japan's primary Internet backbone networks and owns 27 percent of the A-Bone, a backbone network connecting several Asian regions. The company also operates a major Internet backbone connection between Japan and the US. The stock's call options appear today on our intraday unusual option activity list. Nearly 2,000 call contracts have traded for all IIJI options with less than three months to expiration. This is more than eight times the average daily volume for these options. Most of the activity has been concentrated at the June 10 call (IQD FB), which has seen just over 1,400 contracts cross the tape. The volume has been steady all day, mostly executing as smaller sized trades. It appears the trades are the initiation of new bullish long call positions. IIJI is up more than 128 percent in the past four market sessions after the company announced that it received approval to be listed on the Tokyo Stock Exchange. It also reported a profit for the fiscal year 2005 and made positive comments about future earnings. IIJI is up 16 percent in midday trading to 10.28 on very high volume.

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=PROB3C&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 .