Schaeffer's Upon Further Review Highlights the Following Stocks: EMC Corp., Kraft Foods, Walt Disney, Movie Gallery, and Standard Microsystems.

CINCINNATI -- Today's "Upon Further Review" from Schaeffer's Investment Research focuses on EMC Corp. (NYSE:EMC), Kraft Foods (NYSE:KFT), Walt Disney (NYSE:DIS), Movie Gallery (NASDAQ:MOVI), and Standard Microsystems (NASDAQ:SMSC). "Upon Further Review" is a report that analyzes newsworthy stocks that are generating a lot of attention on Wall Street. "Upon Further Review" is published on www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research.

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Upon Further Review:

EMC Corp.: EMC Corp. (NYSE:EMC) has slipped more than four percent in trading following news that it has cut its second-quarter earnings outlook due to later-than-expected orders from customers, and a faster-than-anticipated customer transition to its Symmetrix DMX-3 platform. Technically speaking, today's session high has been capped by the equity's 10-day moving average. In fact, this trendline has worked in tandem with the equity's 20-day moving average, ushering the shares steadily lower. Since May 10, EMC has enjoyed only two daily closes above both of these moving averages.

Click the following link to see a Daily Chart of EMC since May 2006 with 10-Day and 20-Day Moving Averages: http://www.schaeffersresearch.com/wire?ID=16387 .

Kraft Foods: The shares of Kraft Foods (NYSE:KFT) are showing a surprising bit of strength despite news that the company plans to buy the Spanish and Portuguese operations of United Biscuits, a U.K. cookie maker, for $1.07 billion. Usually, the shares of the company making the acquisition retreat on the news. The security is currently clinging to support at the 30 level. This area is not only home to the stock's 10-month moving average, but its 160-day trendline also resides in the region. Furthermore, the 30.38 is the site of a 50-percent retracement of the stock's rally from its January low of 27.44 to its June high of 33.31, adding yet another layer of support. Throw in the fact that nearly 12 percent of the security's float has been sold short, and KFT finds itself with ample fuel to rally from this key support level.

Click the following link to see a Daily Chart of KFT since January 2006 with 160-Day Moving Average: http://www.schaeffersresearch.com/wire?ID=16387 .

Walt Disney : A strong opening for "Pirates of the Caribbean: Dead Man's Chest" helped the shares of Walt Disney (NYSE:DIS) gap higher this morning. However, those gains were quickly lost as the shares pulled back to the 30 level. This strike could prove to be somewhat problematic for the security. The equity's July 30 call is home to more than 30,000 contracts, making it the site of peak call open interest in the front-month series. This accumulate of bullish bets could act as a magnet, keeping the equity locked at or below this level until they expire following the market close on July 21.

Click the following link to see an Intraday Chart of DIS for July 10, 2006: http://www.schaeffersresearch.com/wire?ID=16387 .

Movie Gallery: Movie Gallery (NASDAQ:MOVI) is up more than eight percent this afternoon on no particular news. The shares are in the process of rebounding off support at their ascending 10-week moving average. Furthermore, short interest climbed by 19 percent in June to 16.6 million shares, or 64 percent of the security's float. This hefty accumulation of bearish bets would provide ample fuel for a significant rally higher in the shares.

Click the following link to see a Weekly Chart of MOVI since March 2006 with 10-Week Moving Average: http://www.schaeffersresearch.com/wire?ID=16387 .

Standard Microsystems : Standard Microsystems (NASDAQ:SMSC) announced this morning that its earnings beat expectations for the first quarter and it provided an upbeat forecast for the second quarter. However, it appears that more than earnings are fueling today's gains. In June, short interest crept one percent higher to 1.7 million shares. This buildup of bearish bets accounts for 7.6 percent of the security's float and is nearly six times its average daily trading volume. Today's gap higher has put the squeeze on a lot of those bears, forcing them to buy back their pessimistic positions in an effort to stem their losses.

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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 .