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Schaeffer's S&P 500 Index Hot Stocks Features Computer Sciences, Hewlett-Packard, Cisco Systems, Ford Motor, and QUALCOMM.

CINCINNATI -- Among the stocks featured in the July 3 edition of Schaeffer's S&P 500 Index Hot Stocks are Computer Sciences (NYSE:CSC), Hewlett-Packard (NYSE:HPQ), Cisco Systems (NASDAQ:CSCO), Ford Motor (NYSE:F), and QUALCOMM (NASDAQ:QCOM). Schaeffer's S&P 500 Index Hot Stocks is just one of the many free market commentaries written every day at www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. 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=PRSHS12M&PAGE=1 .

Schaeffer's S&P 500 Index Hot Stocks for Monday, July 3, 2006:

A daily feature available on SchaeffersResearch.com is the "SPX Hot Stocks" column. Each afternoon, we will provide a list of the day's top-20 performing stocks in the S&P 500 Index (SPX - 1,279.80) as well as the bottom-20 names. Featured along with this table will be news that is moving some of the securities.

NOTE: Stocks trading under $5 per share have been eliminated from this listing of the top-20 and bottom-20 performing stocks.

Well, we are entering the final hour of this holiday-abbreviated trading session and it seems as if the shortened day will see a positive finish for the SPX. Volume is sparse, making some stock moves a bit volatile. As far as news goes, the Commerce Department announced that total construction spending dropped 0.4 percent in May, to a seasonally adjusted annual rate of $1.206 trillion. Economists were expecting a rise of 0.2 percent during the month. In addition, the Institute of Supply Management announced that its June manufacturing business index dropped from 54.4 percent in May to 53.8 percent in June. Remember, readings greater than 50 indicate expansion in the sector. Currently, 72 percent of the SPX is in positive territory.

On a half day and a slow news (NYSE:CSC) announced that it concluded a strategic review, opting for a $2 billion share buyback rather than to sell. CSC also announced that it received an informal request from the Securities and Exchange Commission related to stock options grants to employees. This news sent the shares more than 13 percent lower when Friday's trading concluded. Today's action may be little more than a slight recovery, but a gain greater than four percent lands the firm on the positive side of our hot stocks list.

Technology stocks are enjoying a positive abbreviated day. One of those companies is Hewlett-Packard (NYSE:HPQ), which is nearly three percent higher. The main catalyst for the move higher may be an upgrade of the company's tech compatriot, Nortel Networks (NT). It should also be noted that today's move higher has vaulted HPQ through its 10-day and 20-day moving averages. Keep an eye on HPQ when trading resumes on Wednesday morning.

Late Friday, Cisco Systems (NASDAQ:CSCO) announced that it completed the acquisition of privately held companies Metreso and Audium. Judging by today's reaction, I would say that investors are happy with the deal, as CSCO is more than two percent higher.

Let's now turn our attention to stocks that are adding the red to our red-white-and-blue holiday. Ford Motor (NYSE:F) has slipped to the bottom of our list, after announcing that June U.S. sales fell 6.9 percent. Car sales increased during the period, but that 7.1-percent gain was negated by a drop of 14.4 percent in truck sales. The company blamed lower truck sales on high gas prices.

Yesterday, Broadcom (BRCM) and Texas Instruments (TXN) filed a complaint against QUALCOMM (NASDAQ:QCOM) in Korea. The complaints stem from allegations that QCOM used its dominant market status to engage in unfair business practices. A spokesman for South Korea's Fair Trade Commission stated that the two companies are arguing that "Qualcomm used its exclusive rights to the code division multiple access, or CDMA, technology to wield unbeatable power in Korea." These complaints are the third and fourth logged against QCOM, as Nextreaming Corp. and THINmultimedia Inc. filed similar complaints earlier this year. Today, QCOM has shed nearly two percent.

Click the following link to see a Chart of the SPX 500 Index's Top-20 Percentage Gainers: http://www.schaeffersresearch.com/wire?ID=16355 .

Click the following link to see a Chart of the SPX 500 Index's Top-20 Percentage Losers: http://www.schaeffersresearch.com/wire?ID=16355 .

Take advantage of the timely Schaeffer commentaries by signing up for their free e-newsletters -- Opening View, Market Recap and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day. http://www.schaeffersresearch.com/redirect.aspx?CODE=PRSHS12M&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 .
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Date:Jul 3, 2006
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