Schaeffer's Market Leaders and Laggards Features Carlisle Companies, Michaels Stores, Applied Signal Technology, Biogen Idec, and International Paper.

CINCINNATI -- Among the stocks featured in the April 14 edition of Schaeffer's Market Leaders and Laggards are Carlisle Companies (NYSE:CSL), Michaels Stores (NYSE:MIK), Applied Signal Technology (NASDAQ:APSG), Biogen Idec (NASDAQ:BIIB), and International Paper (NYSE:IP). 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 Friday, April 15, 2005:

Carlisle Companies- Ranking 9.0

Truck brake manufacturer, Carlisle Companies (NYSE:CSL), stepped into the earnings confessional yesterday, reporting first-quarter earnings. CSL earned 90 cents per share, better than last year's same-quarter earnings of 76 cents per share, and beating the Street's expectations for 84 cents. CSL didn't stop there, forecasting 2005 earnings of $4.10 to $4.25 per share. This announcement is probably not welcomed by those inhabiting the options pits. Although options are lightly traded on the brake bunch (there are 336 open contracts in total), its Schaeffer's put/call open interest ratio (SOIR) checks in at an annual high of 1.51. Pessimism is also demonstrated as its short interest increased by more than 26 percent over the past month. However, with yesterday's positive earnings news, we may see a substantial short-covering rally thanks to its short-interest ratio of 6.68. Technically, we see a strong uptrend on CSL's daily, weekly, and monthly charts. The stock has reached an all-time high of 73.90 this month, thanks to strong support from its 10-month trendline. In December 2001, CSL moved above its 10-month trendline, and used this support to reach this high. On the occasion that CSL has lost the support of its 10-month trendline, it has been ushered higher by its 20-month trendline. This sentiment mix results in a Schaeffer's Equity Scorecard ranking of 9.0, out of a possible 10.0.

Click on the following link to see the Monthly Chart of CSL since September 2001 with 10-Month and 20-Month Moving Averages: http://www.schaeffersresearch.com/wire?ID=12959 .

Michaels Stores- Ranking 8.0

If you know someone who, in the immortal words of the Beastie Boys, is "crafty," you may be familiar with Michaels Stores (NYSE:MIK). Apparently, options players like MIK, as its SOIR checks in at 0.67, lower than 72 percent of the readings taken over the past 52 weeks. Optimism can also be seen in the 34-percent drop in short interest for MIK in the past month. Is the optimistic sentiment warranted? Glancing at MIK's charts, the answer would be a resounding "yes." On the MIK's monthly chart, we see that it has weaved its way to a fresh all-time high upon the support of its 10-month trendline. Since MIK's 10-month moving average completed a bullish cross of its 20-month in December 2003 the stock has not fallen below the staunch support of its 10-unit trendline. Can MIK continue to craft its way higher? It's Equity Scorecard ranking of 8.0 certainly seems to suggest that MIK could be a model stock.

Click on the following link to see the Monthly Chart of MIK since March 2003 with 10-Month and 20-Month Moving Averages: http://www.schaeffersresearch.com/wire?ID=12959 .

Applied Signal Technology - Ranking 3.0

Hoover's states that Applied Signal Technology (NASDAQ:APSG) specializes in reconnaissance equipment including receivers, processors, and software that collects and processes communications signals. Pessimism rules the roost in APSG's sentiment picture, as its SOIR checks in at a healthy 1.26. APSG has not been dealing in options long enough to register a percentile ranking for the past 52 weeks. APSG sees little more than 1,000 options contracts traded in total, rendering the SOIR less influential on the Scorecard ranking than technical performance. Did I say technical performance? Maybe I should have said technical underperformance. Looking at APSG's daily chart, the company has been pushed lower by the resistance of its 10-day and 20-day moving averages. Since APSG slipped below both of its trendlines, it has been able to mark one lone close above this resistance. Currently, both trendlines are in the 22.50 region, providing further resistance for APSG. APSG's technical problems result in an Equity Scorecard ranking of 3.0 out of a possible 10.0.

Click on the following link to see the Daily Chart of APGS since December 2004 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12959 .

Biogen Idec - Ranking 2.0

Biotechnology firm, Biogen Idec (NASDAQ:BIIB) announced, with partner Elan (NYSE:ELN), on Tuesday that a Phase III clinical study had shown that its drug, Tysabri, had shown to be highly effective in slowing the progression of multiple sclerosis when used alone. This is much-needed good news for the firm as it had pulled Tysabri from the market in late February over suspicions that it was triggering a rare but deadly brain disease. This should make the options pits happy, as BIIB's SOIR of 0.42 is lower than 97 percent of the readings taken over the past 52 weeks. Analysts are also optimistic toward BIIB, as according to Zacks, it receives 14 "holds." This means that BIIB could see a sizeable push to the downside should analysts change their minds. BIIB had been trading in a range between 61 and 68 in late February. BIIB actually tagged a near-term high of 70 before the announcement. However, the Tysabri bombshell caused BIIB to take a long walk off a short pier, closing at 38.65 on February 28. The day before, BIIB closed at 67.28. Currently, BIIB is caught between its 10-day and 20-day moving averages and is hoping that some good news can help it recover. Tuesday's announcement concerning Tysabri was met with tepid reaction, as BIIB actually lost ground afterward. Raging optimism combines with BIIB's nasty technical developments to result in a Scorecard ranking of 2.0 out of 10.

Click on the following link to see the Daily Chart of BIIB since December 2004 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12959 .

International Paper - Ranking 1.0

International Paper (NYSE:IP) rounds out our Leaders & Laggards rundown for the week. IP doesn't just focus on paper, but produces packaging, plywood, and pulp; while also distributing printing and packaging products and selling specialty chemicals that result from pulp processing. IP also controls 6.8 million acres of U.S. forestland and 1.2 million acres of Brazilian forestland. Calls outnumber puts 2.7 to one in the front three months of options, resulting in a SOIR of 0.36 for IP. This SOIR reading is lower than 99 percent of the readings taken over the past year for the paper producer. Analysts aren't as smitten with IP as, according to Zacks, 11 of the 13 analysts covering the company rate it a "hold" or better. Is the optimistic sentiment just pulp fiction? Looking at IP's charts, the answer seems to be yes. It would be easy to pick on IP because of its recent sharp downtrend and various bearish crosses but I wanted to look at a wider picture. Looking back as far as March 2002, IP's weekly chart indicates that it is in the midst of a pronounced downtrend. Yes, the company recovered to rally back to the 45 level in January 2004, but after battling this resistance twice, it seems that the downtrend from March to October 2002 may be repeating itself. Currently, IP can not break the resistance provided by its 10-week moving average, however; if it does, past performance indicates that the 20-week moving average should provide further resistance. This mix of ingredients results in a Scorecard ranking of 1.0 for IP.

Click on the following link to see the Weekly Chart of IP since March 2002 with 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=12959 .

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.