MORNING UPDATE: Seven Summits Research issues alerts for KSS, SWN, PETM, AFFX, and ACS

CHICAGO, Oct. 4 /PRNewswire/ -- Seven Summits Research issues the following Morning Update at 8:30 AM EDT with new PriceWatch Alerts for key stocks.

Before the open... PriceWatch Alerts for KSS, SWN, PETM, AFFX, and ACS, Market Overview, News Leaders and Laggards, Today's Economic Calendar, and the Quote Of The Day.

QUOTE OF THE DAY

"The need to use energy more wisely is particularly acute this year because of the higher prices we expect to see. We have had a severe disruption in the last few weeks in the energy infrastructure of this country."

-- Samuel W. Bodman, Energy Secretary, USA New PriceWatch Alerts for KSS, SWN, PETM, AFFX, and ACS... PRICEWATCH ALERTS - HIGH RETURN COVERED CALL OPTIONS ----------- -- Kohl's Corp. Last Price 48.79 - NOV 45.00 CALL OPTION@ $5.80 -> 4.7 % Return assigned* -- Southwestern Energy Co. Last Price 82.30 - NOV 80.00 CALL OPTION@ $7.80 -> 7.4 % Return assigned* -- PETsMART, Inc. Last Price 22.75 - JAN 22.50 CALL OPTION@ $1.85 -> 7.7 % Return assigned* -- Affymetrix, Inc. Last Price 48.45 - FEB 45.00 CALL OPTION@ $6.60 -> 7.5 % Return assigned* -- Affiliated Computer Services, Inc. Last Price 51.18 - JAN 50.00 CALL OPTION@ $3.80 -> 5.5 % Return assigned*

* To learn more about how to use these alerts and for our FREE report, "The 18 Warning Signs That Tell You When To Dump A Stock", go to: http://www.investorsobserver.com/mu18

(Note: You may need to copy the link above into your browser then press the [ENTER] key)

** FREE Access to the Market Intelligence Center where you will find the news, insight and intelligence that can make a difference in the way you invest, go to: http://www.investorsobserver.com/FreeMIC

NOTE: All stocks and options shown are examples only. These are not recommendations to buy or sell any security.

MARKET OVERVIEW

Overseas trading is upbeat at the moment, with 12 of the 17 European and Asian markets that we follow in positive territory. Asia trading was strong today, with the Nikkei up 1.58. The French CAC 40 is up 0.36% while the Italian MIBTel is down 0.47%.

In early trading, the November futures contract on sweet crude oil is down 1.16%, down 75 cents from yesterday's close to $64.72 a barrel.

Get Free Stock Picks from Bernie Schaeffer, 3 time winner of the Wall Street Journal Stock Picking Contest. For your Free Trial go to: http://www.investorsobserver.com/freemo2

DYNAMIC MARKET OPPORTUNITIES

The US income and spending data continues to fluctuate, with the Commerce Department reporting that personal spending slumped 0.5% in August - the biggest decline since May 2002. It was also a big swing from the 1.2% increase in July, as high gasoline prices affected spending and auto sales sank. However, there was a small silver lining, as the drop off in spending caused the savings rate to rise to minus 7% from a record low minus 1.1% in July. Incomes also edged down 0.1% - the first decline since January. Over in Britain, there was similarly poor news regarding its economy. The Office for National Statistics just reported that the UK economy expanded at an annualized rate of 1.5% during the second quarter - the slowest pace of growth since Q1 1993 and 0.3% below estimates as recent as August 26. With second- quarter GDP growth hitting just 0.5%, even ever-optimistic Chancellor Gordon Brown admitted recently that full-year growth is unlikely to hit his forecast of 3% to 3.5%. A major reason for that involves higher gasoline prices putting the pressure on consumers' wallets. There's also a considerable amount of pressure on the government's wallet. After Prime Minister Tony Blair won a third straight term in office back in May on promises of sweeping improvements to healthcare and education, he's going to have difficulty paying for it all if economic growth suddenly halts. Back in March, Brown pledged 100 billion pounds Sterling over the next three years to finance the reforms, but with the chancellor set to miss his budget deficit forecast for the current fiscal year (ending April 2006), he's facing one of the sternest tests of his eight-year term at 11 Downing Street. Already, many economists are suggesting that he will soon be forced to raise taxes.

Read more analysis from the 247Profits Group every trading day with the FREE 247Profits e-Dispatch, featuring insightful economic commentary, profitable investment recommendations, and full access to a leading team of financial experts. Register for free here: http://www.247profits.com/enter.html

NEWS LEADERS AND LAGGARDS

So far today, Abbott Laboratories, Bowater, and Lyondell Chemical lead the list of companies with the most news stories while Chesapeake Energy Corp and Too Inc are showing a spike in news. Walgreen Co, El Paso Corp, and Goodyear Tire & Rubber have the highest srtIndex scores to top the list of companies with positive news while Lexmark International and Supportsoft lead the list of companies with negative news reports. PortalPlayer has popped up with a high positive news sraIndex score.

For the FREE article titled, "Earnings Season Decoded - An Essential 15 Point Checklist For Finding Winning Stocks." go to: http://www.wallstreetsecretsplus.com/go/freemu/

TODAY'S ECONOMIC CALENDAR 7:45 AM Oct 1 ICSC Store Sales Index 8:55 AM Oct 1 Redbook Retail Sales Index 10:00 AM Aug Factory Orders 1:45 PM Dallas Fed Pres Fisher speaks on the economic outlook before Greater Dallas Chamber of Commerce 5:00 PM Oct 2 ABC/Washington Post Consumer Confidence Index

Seven Summits Investment Research is an independent investment research group focusing on the U.S. equities and options markets. Our unique set of analytical tools, screening techniques, rigorous research methods and committed staff provide solid information to help our clients make the best investment decisions possible. For more information go to http://www.sevensummitsinvestmentresearch.com/ . CRD# 137114

This Morning Update was prepared with data and information provided by:

InvestorsObserver.com - Better Strategies for Making Money -> For Investors With a Sense of Humor. Only $1 for your first month plus seven free bonuses worth over $420, see: http://www.investorsobserver.com/must

Quote.com QCharts - Real time quotes and streaming technical charts to keep you up with the market. Analyze, predict, and stay ahead. For a Free 30 day trial go to: http://www.investorsobserver.com/MUQuote2

247profits.com - You'll get exclusive financial commentary, access to a global network of experts and undiscovered stock alerts. Register NOW for the FREE 247profits e-Dispatch. Go to: http://www.investorsobserver.com/agora

Schaeffer's Investment Research - Sign up for your FREE e-weekly, Monday Morning Outlook, Bernie Schaeffer's look ahead at the markets. Sign Up Now http://www.investorsobserver.com/freemo

PowerOptionsPlus - The Best Way To Find, Compare, Analyze, and Make Money On Options Investments. For a 14-Day FREE trial and 5 FREE bonuses go to: http://www.poweroptionsplus.com/

All stocks and options shown are examples only. These are not recommendations to buy or sell any security and they do not represent in any way a positive or negative outlook for any security. Potential returns do not take into account your trade size, brokerage commissions or taxes which will affect actual investment returns. Stocks and options involve risk and are not suitable for all investors and investing in options carries substantial risk. Prior to buying or selling options, a person must receive a copy of Characteristics and Risks of Standardized Options available from Catherine at 800-698-9101 or at http://www.cboe.com/Resources/Intro.asp . Privacy policy available upon request.