Schaeffer's Market Leaders and Laggards Features Energy Conversion Devices, TASER International, King Pharmaceuticals, RF Micro Devices, and Microsoft.

CINCINNATI -- Among the stocks featured in the April 6 edition of Schaeffer's Market Leaders and Laggards are Energy Conversion Devices (NASDAQ:ENER), TASER International (NASDAQ:TASR), King Pharmaceuticals (NYSE:KG), RF Micro Devices (NASDAQ:RFMD), and Microsoft (NASDAQ:MSFT). 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 6, 2005:

The Schaeffer's Equity Scorecard enables its users to evaluate any of almost 2,000 stocks in terms of 10 powerful sentiment, technical, and fundamental indicators. The scorecard, which utilizes a proprietary ranking system, also provides a weighed average composite score that can be used to grade equities in a clear and concise manner. A ranking greater than five indicates a potentially bullish (long) trading opportunity, as this security is exhibiting signs of technical strength against a backdrop of heavy investor skepticism. On the other hand, readings below five represent a potential bearish (short) trading opportunity, as these equities lag the market, yet investors maintain high hopes for the stock.

Energy Conversion Devices (NASDAQ:ENER) - Ranking 8.5

According to Hoover's, ENER manufactures electronic products that generate and store power. The firm's subsidiaries construct rechargeable batteries and solar-power technology. ENER has been galloping higher since last March, nearly quadrupling in value during this time frame. The stock is fresh from a retest of support from its 10-week moving average and has now hurdled past the 23 area, which marked the stock's early-December peak. Helping to fortify the equity's Scorecard rating is the tepid response from options players, who have largely congregated in the bearish camp. Schaeffer's put/call open interest ratio (SOIR) for ENER notched an annual high of 0.51 on March 22 and has since drifted only slightly lower. The indicator currently stands at 0.46, higher than 96 percent of the past year's worth of readings. What's more, short interest on the stock stands at an all-time high of 3.2 million after a 20-percent increase last month. More than 15 percent of the equity's available float is sold short, and it would take the bears nearly eight days worth of trading (at the stock's average daily volume) to unload all of these bets. Wall Street has yet to commit to the stock one way or another. According to Zacks (www.Zacks.com), there is currently one "hold" rating on the security, but nary a "buy" or a "sell" to be found. As the stock's uptrend continue, more major brokerage houses could initiate coverage on the stock, providing a source of additional buying fuel.

Click on the following link to see the Weekly Chart of ENER since March 2004 with 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=12886 .

TASER International (NASDAQ:TASR) - Ranking 2.5

TASR endured a 13-percent pullback last Friday after announcing that first-quarter revenue had fallen short of analysts' expectations. TASR officials attributed this to unpredictable sales, which were lower thanks to "adverse publicity." Speaking of adverse publicity, Amnesty International stepped forward to report that there was a total of 103 stun gun-related deaths in the U.S. and Canada between June 2001 and March 2005. Since peaking in late December, TASR shares have taken a long run off a short pier, losing about 70 percent of their value. This decline has been worsened of late by staunch overhead resistance in the form of the security's descending 10-week moving average. TASR has now breached potential support at the 12 mark, which contained pullbacks in June and August of last year and, more recently, in March. Options players continue to call a bottom in TASR, as suggested by the stock's SOIR reading of 0.73, which stands among the lowest one-fifth of the past year's worth of readings. Short sellers engaged in some profit-taking last month, which also indicates that investors think the worst may be behind TASR. Although more than 36 percent of the equity's float is sold on the short side, the stock's total short-interest stands at 18.9 million, its lowest point since June 2004.

Click on the following link to see the Weekly Chart of TASR since February 2004 with 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=12886 .

King Pharmaceuticals (NYSE:KG) - Ranking 2.5

KG dabbles in both generic and brand-name pharmaceuticals. Under its umbrella is the brand Levoxyl, a thyroid medication. Technically speaking, the shares have been stifled beneath their 10-day and 20-day moving averages since early December, losing more than 40 percent of their value in the last four months. Sentiment indicators are mixed on the security. Options players are rather complacent toward the stock despite its negative price action. The SOIR for KG weighs in at 0.30, which means that in the front three-months' options series, there are only 30 open puts for every 100 open calls. This reading is lower than 81 percent of all data captured over the past 12 months. While short interest surged a whopping 113 percent during the latest reporting period, only two percent of the stock's float is currently sold short. What's more, KG boasts a meager short-interest ratio of just 2.3 days to cover. Should the stock begin to mount a recovery, there is little short-covering fuel in the tank to aid in an upward drive. Wall Street is thoroughly indecisive toward KG shares, as all 10 analysts who follow the stock have named it a "hold," according to Zacks (www.Zacks.com).

Click on the following link to see the Daily Chart of KG since December 2004 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12886 .

RF Micro Devices (NASDAQ:RFMD) - Ranking 2.5

RF Micro Devices is an electronics company with a specialization in communications chips. The stock has been rapidly declining over the past several weeks and has taken out its late-January nadir of 5.3. The stock is now trading at levels not seen since late August. Despite its relatively low price, many analysts continue to keep RFMD on their respective radar screens. Zacks (www.Zacks.com) reports that there are currently five "buy" ratings on the stock, along with 11 "holds" and two outright "sells." Moving on to other sentiment factors, short interest on RFMD has been declining since late 2003. The stock's short-interest ratio currently weighs in at 2.6 days to cover. On the options front, the security's SOIR stands at 0.39, which is relatively average, ranking in the 60th annual percentile.

Click on the following link to see the Daily Chart of RFMD since January 2005 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=12886&obspage=2 .

Microsoft (NASDAQ:MSFT) - Ranking 0.5

Software giant MSFT has been slumping decisively lower since mid-November under the resistance of its 10-week and 20-week moving averages. What's more, the stock has shown little actual strength, from a technical perspective, since late 1999. You wouldn't know it to look at analysts' ratings on the stock, however, as MSFT continues to cling to 21 "buys" compared with one "hold" and a lonely "sell" designation. Options players are crowding the bullish bandwagon as well, as suggested by the stock's SOIR of 0.32, which ranks in the 15th annual percentile. Furthermore, short interest is a non-entity, as all shorted positions on MSFT could be covered in just over one day of trading activity. MSFT takes a turn in the earnings confessional following the closing bell on April 28. Analysts are currently targeting per-share results of 31 cents, three cents lower than year-ago figures.

Click on the following link to see the Weekly Chart of MSFT since October 2004 with 10-Week and 20-Week Moving Averages: http://www.schaeffersresearch.com/wire?ID=12886&obspage=2 .

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

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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.