Schaeffer's Market Leaders and Laggards Features AMR Corp., priceline.com, Viacom, QUALCOMM and Caterpillar.

CINCINNATI -- Among the stocks featured in the April 20 edition of Schaeffer's Market Leaders and Laggards are AMR Corp (NYSE:AMR), priceline.com (NASDAQ:PCLN), Viacom (NYSE:VIA'B), QUALCOMM (NASDAQ:QCOM) and Caterpillar (NYSE:CAT). Schaeffer's Market Leaders and Laggards screener is just one of the many features written everyday at http://www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. The information used to compile this commentary is derived from the Schaeffer's Equity Scorecard Filter. Below is a quick overview of some of the heavy hitters that are seeing some particularly high or low rankings. For a complete list of the stocks on our High/Low Schaeffer's Equity Scorecard Filter, sign up for an unlimited access free trial to Schaeffer's Gold: http://www.SchaeffersResearch.com/redirect.aspx?CODE=PRGLD2M&PAGE=1

Schaeffer's Market Leaders and Laggards for Wednesday, April 20, 2005:

AMR Corp. - Ranking 8.0

AMR Corp. (NYSE: AMR) slipped into the earnings confessional today to report a narrowed first-quarter loss of $162 million, or $1 per share. Before a $69 million tax credit, the loss extended to $230 million, or $1.43 per share. This was apparently good news for AMR investors, as the stock has climbed more than four percent higher today, bouncing off of long-term support at the 10 level. The equity's long-term technical picture is not too shabby for an airline concern in the midst of record fuel prices, as the shares have added more than 67 percent since October 2004. Lending a hand on this flight higher has been the security's 10-week and 20-week moving averages, which have just completed a bullish cross. Per the stock's sentiment indicators, investors apparently are suffering from aviophobia. The stock's Schaeffer's put/call open interest ratio (SOIR) of 1.23 not only indicates that puts outnumber calls in the front three months, but it also ranks above 70 percent of all those taken in the past year. Short sellers are also flocking to the bearish hangars, as short interest represents nearly 30 percent of the stock's total float and would take more than 13 days to cover. Wall Street appears to be the only group not afraid of the friendly skies, as Zacks reports that six of the nine covering analysts rate the shares a "buy" or better. This lingering pessimism amid an uptrend for AMR has earned the security a Schaeffer's Equity Scorecard rating of 8.0 out of 10.0.

Click on the following link to see the Weekly Chart of AMR since October 2004 with 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=12996

priceline.com - Ranking 8.0

Over the past couple of months, shares of priceline.com (NASDAQ: PCLN) have really found a way to travel higher. Since early February, the stock has rallied more than 24 percent higher, supported by their 10-day and 20-day moving averages. Furthermore, PCLN has taken out resistance at the 25 level and is looking to assault the 26 level in the near future. Checking in on the equity's quantitative indicators, we find that there is ample fuel for a continued rally. The options crowd continues to bet against the shares, as PCLN's SOIR of 0.57 ranks above 76 percent of all those taken in the past year. Meanwhile, short interest accounts for a whopping 34 percent of the stock's total float and would take more than 13 days to cover at its average daily trading volume. Even Wall Street has yet to name its price on the company's website, preferring to issue seven "holds" and just four "buy" ratings on the equity. This plentiful pervasion of pessimism has procured PCLN a Schaeffer's Equity Scorecard rating of 8.0 out of 10.0, indicating that the path higher appears to be the one of least resistance.

Click on the following link to see the Daily Chart of PCLN since February 2005 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12996

Viacom Class B - Ranking 1.5

Yesterday, Viacom (NYSE: VIA'B) reported that first-quarter earnings fell to 36 cents per share, but still managed to best the Street's view for 31 cents. The stock's B-class shares (probably the most heavily traded) reacted very moderately to the news, however. VIA'B added nearly two percent on the news, but are down nearly half-a-percent in today's trading. Pulling back for a broader view of the equity's technical picture, VIA'B has been in a solid downtrend since January, finding pretty solid resistance at its 10-day and 20-day moving averages. Furthermore, the stock has not closed a month above resistance at its 10-month and 20-month trendlines since December 2003. Sentiment toward this underperforming issue is surprisingly bullish in nature. The security's SOIR of 0.37 indicates that calls more than double puts in the front three months of options and ranks below 92 percent of all those taken in the past year. Short sellers are bailing on the equity, as short interest plunged more than 19 percent during March, leaving investors with a modest 2.02 days to cover. Even brokerage firms cannot shake the bullish trend, as Zacks reports that there are two "buys" and one "hold" for VIA'B. This wealth of optimistic sentiment on a stock with a history of trending lower has earned VIA'B a Schaeffer's Equity Scorecard rating of 1.5 out of 10.0.

Click on the following link to see the Daily Chart of VIA'B since December 2004 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12996

QUALCOMM - Ranking 1.5

After posting a solid run higher along its 10-month and 20-month moving averages from May 2003 through December 2004, QUALCOMM (NASDAQ: QCOM) has slipped beneath the staunch support of these long-term trendlines in recent weeks. And while the shares seem to have found a saving grace at the 32 level, overhead resistance at its declining 10-unit and 20-unit daily and weekly moving averages threaten to reject the equity once again. Should QCOM encounter this descending threat from above, there is little in the way of sideline money to send the shares through this quartet of resistance levels. Short sellers could cover their pessimistic positions in nearly one day of trading, lessening the impact of any short-covering rally. Meanwhile, options players are expecting the stock to continue higher, as QCOM's SOIR of 0.72 ranks below 85 percent of those taken in the past year. There are some holdouts on the brokerage front, however, as Zacks reports that 15 of the 28 covering analyst rate the shares a "hold" or worse. However, given the stock's continued decline, there is little to prompt this bearish group to lift their opinion. The end result is a rather bleak Schaeffer's Equity Scorecard rating of 1.5 out of 10.0 for QCOM.

Click on the following link to see the Monthly Chart of QCOM since May 2003 with 10-Month and 20-Month Moving Averages: http://www.schaeffersresearch.com/wire?ID=12996

Caterpillar - Ranking 2.5

Some would say that after today's positive first-quarter earnings report that the CAT is back. However, Caterpillar's (NYSE: CAT) more-than-four-percent rally higher today has been held in check by solid overhead resistance at its declining 20-day moving average. This short-term trendline (in combination with its 10-day counterpart) has ushered CAT some 11 percent lower since the beginning of March. Furthermore, the stock's 10-week and 20-week moving averages are poised for a bearish cross - a negative technical formation that often portends additional weakness for the equity. Sentiment is far from promising for this blue-chip industrial equipment concern, as optimism reigns in the security's quantitative indicators. First, the stock's SOIR of 0.78 falls below 94 percent of all those taken in the past year. Next, it would take less than three days to cover the 6.75 million CAT shares sold short, cutting the chances of the equity benefiting from any covering support. What's more, Wall Street loves its bulldozers, as nine of the 15 covering analysts rate CAT a "buy" or better. This abundance of bullish sentiment amid a continued downtrend has earned CAT a Schaeffer's Equity Scorecard of 2.5 out of 10.0.

Click on the following link to see the Daily Chart of CAT since March 2005 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12996

For a complete list of the stocks on our High/Low Schaeffer's Equity Scorecard Filter, sign up for an unlimited access free trial to Schaeffer's Gold: http://www.SchaeffersResearch.com/redirect.aspx?CODE=PRGLD2M&PAGE=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