Schaeffer's Daily Market Blog Features Cisco Systems, MicroStrategy, General Cable, Electro Scientific Industries, and Panera Bread.

CINCINNATI -- Among the stocks featured in the December 7 edition of Schaeffer's Market Blog are Cisco Systems (NASDAQ:CSCO), MicroStrategy (NASDAQ:MSTR), General Cable (NYSE:BGC), Electro Scientific Industries (NASDAQ:ESIO), and Panera Bread (NASDAQ:PNRA). 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=PROB12M&PAGE=1 .

Schaeffer's Market Blog for Wednesday, December 7, 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=PROB1C&PAGE=1 .

11:00 AM Cisco Systems Upgraded at J.P. Morgan

This morning before the market open, shares of Cisco Systems (NASDAQ:CSCO) were upgraded at J.P. Morgan from "neutral" to "overweight." A check on the overall financial analyst view of CSCO reveals that it is a Wall Street favorite. According to Zacks, before this morning's upgrade there were 18 "buy" ratings, eight "hold" ratings, and one "sell" rating on the stock. In addition to the analyst community, options speculators and short sellers are complacent toward CSCO.

In addition to the high expectations from investors, another negative factor for CSCO's outlook from our Expectational Analysis perspective is its weak technical backdrop. CSCO has shed 11 percent and underperformed the broad market during the past year. This combination of high expectations and poor price action likely indicates CSCO will continue to lag the market. The security rates a weak 1.0 out of 10 on our proprietary Schaeffer's Equity Scorecard.

11:00 AM MicroStrategy Rises From Support at its 50-Day Moving Average

Business software name MicroStrategy (NASDAQ:MSTR) is higher today as the stock rallies from support at its 50-day moving average. After rising above this trendline on October 24, MSTR fell below it just four days later after the company reported third-quarter earnings of 91 cents per share, missing the consensus estimate by 13 cents. However, the stock recovered and has held above the 50-day for the past five weeks. Analysts are still cautious though. Six of nine analysts that follow MSTR have either a "hold" or "sell" rating on it. Short interest has fallen during the past five months but still remains high at almost 2.2 million shares. That amounts to nearly 28 percent of the stock's float.

11:07 AM NYSE & NASDAQ New Highs/New Lows With Schaeffer's Equity Scorecard

In spite of yesterday's late sell-off, the number of new annual highs clearly outpaced the number of new annual lows in Tuesday's trading.

In the Daily Market Blog at SchaeffersResearch.com we list stocks today that are achieving new annual highs or new annual lows while sporting an "extreme" Schaeffer's Equity Scorecard reading. General Cable (NYSE:BGC) and Electro Scientific Industries (NASDAQ:ESIO) both look like strong candidates for our attention, scoring 9.0 out of 10. For similar opportunities, feel free to visit the free Daily Market Blog at http://www.SchaeffersResearch.com.

11:27 AM Panera Bread Higher on Upside Earnings Guidance

This morning before the market open, Panera Bread (NASDAQ:PNRA) reported November same-store sales increased 7.7 percent. As a result of this brisk same-store sales report, PNRA raised its full-year earnings outlook by a penny. PNRA now sees earnings per share of between $1.63 and $1.64, versus the Thomson First Call consensus estimate of $1.62.

Technically speaking, shares of PNRA are currently consolidating sideways after a strong rally that began in late September. The stock looks like it is forming a triangle, which is usually a consolidation period when the equity digests its gains before moving higher. At last check, PNRA was trading two percent higher to $68.97 today.

2:28 PM Calls Traded Heavily on Cisco

Call option buying on Cisco Systems (NASDAQ:CSCO) seems to be the thing to do. And why shouldn't it be? Everyone loves CSCO, right? JP Morgan does. They upgraded the stock to "overweight" this morning. Call volume on the number one in networking over the past two trading sessions has been nearly 10 times respective put volume. This high level of optimism seems to be limiting the ability of the shares to make a more significant move to the upside.

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=PROB1C&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 .