ORIONTELEMET

Real-time and Historic Market Data,

Charts, News, Research and Portfolio Analysis

Volume II

Research

Information Booklet

V8.0

Telemet America, Inc. 325 First Street

Alexandria, VA 22314 (703) 548-2042

Partners with professional investors for more than a quarter century

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Forward

Telemet offers real-time and historic market data, charts, news, research and portfolio management software and services. The Information Booklet comes in three volumes: • Volume I covers the real-time and historic data, charts and news. • Volume II covers the extensive research capabilities in Telemet. • Volume III covers the Portfolio Management functions such as Contribution, Attribution

and Performance. In addition, Telemet offers Information booklets on Workspaces (screen layouts), the Report Writer (Telemet's professional report engine), Teleport (our information redistribution service) and TeleFlash (your analyst's publishing kit).

Welcome to Volume II!

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Volume II - Table of Contents

Research Summary p. II.1 Equity Financial Analysis & Tools Key Stats p. II.2 Detailed Financials p. II.4 Financial Data Export p. II.8 History of Dividends, Sales, Splits p. II.9 Search & Screen p. II.12 Corporate Actions p. II.16 SEC Filings & Alerts p. II.17 Company Snap Report p. II.18 Reports - One & Three Pager p. II.19

Reports - DataChart p. II.21 More Fundamentals-Market Guide p. II.22

Technical Analysis Screening p. II.23 Limit Alerts p. II.25 Technical Chart Indicators p. II.29 Third Party Research First Call, IBES & Zacks Estimates p. II.30 First Call Notes p. II.31 Vickers Holdings p. II.32

Tools for Redistribution Teleport - Data Redistribution p. II.34 TeleFlash - Research Redistribution p. II.34 When All Else Fails - Help! p. II.36

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Telemet Research The Telemet Investment Platform offers in-depth research for the buy-side analyst and portfolio manager: Equity Financial Analysis and Tools • ‘Key Stats’ – an in-depth resource to see a company’s critical financial metrics, • Detailed Financials - Balance sheets, cash flows and income statements on over 3,000 companies • Financial Data export for spreadsheet analyses, • Summaries of revenue, earnings, split and dividends (historic data back up to 10 years), • Search and screen - Identifying stocks with certain financial characteristics, • Corporate Actions (spin-offs, name changes, dividends, etc) and alerts. • Edgar (SEC 10K, 10Q filings) filing alerts with fingertip drill-down to detailed reports, • Detailed Reports using the Report Writer for review, discussions and analyses, • One page and “Three Pager" summaries of a company performance and financial metrics • DataCharts - One page price chart with current and historic financial data and company synopsis, Technical Analysis & Screening Tools • Technical screening - create alerts and screen and search based on trading and technical studies. • Limit Alerts and minders based on prices, volume and price history. • Technical Chart Studies (see Technical Indicators described in Chart section of Volume I). Third Party Research • First Call, I/B/E/S and Zacks Consensus Estimates and Trends (“add-on” services). • First Call ‘Morning’ Notes (an “add-on” service). • Vickers Institutional and Insider Holdings database (an “add-on” service). Handy Tools to Distribute Research • TelePort - brings data from third party and your internal databases to your Telemet subscribers. • TeleFlash – This publishing platform distributes your analyst’s opinions and research in ‘real-time’ to your

Telemet subscribers.

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‘Key Stats’ – In Depth Financial Metrics

Valuable financial metrics and their history presented in ‘Key Stats’ costs thousands from other vendors, but these are bundled with your Telemet Investment Platform. Telemet has taken extreme efforts to capture and thoroughly check ‘as reported’ fundamental financial data for thousands of publicly traded equities. Several years of these data are brought together on ‘Key Stats’ pages. ‘Key Stats’ include: Revenue and earnings Capitalization Leverage Metrics Earnings & revenue growth rates, Valuation Measures: p/e, p/b... Margins: Gross, net, ebita ... Earnings per share and percent changes, Per share data: eps, sales/share... Return on Equity, Assets ... Price momentum measures, Liquidity Measures The Key Stats’ data also include valuable historic records for many items. Comparisons of the historic records may be made to S&P Sectors, to S&P Industries and to other firms. To access ‘Key Stats’: From Workspace, select Research then 'Key Stats' From a Telemet custom page, custom column, double click on the company name and select 'Key Stats' From any Telemet Page, the menu item Display / Research / Key Stats .

‘Key Stats’ Page first shows the company Business and overview of key financial metrics

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Look at the left side of the ‘Key Stats’ Page you see:

Look on the right side of the ‘Key Stats Page you see

‘Key Stats’ Page shows the Sector and Industry. There is a link to the company website. See also the CUSIP, Standard Industrial Code and FY end date along with current price with the last trade date and time

‘Key Stats’ has pull down menus to get to specific information fast. See Key Ratios such as price to sales with a point and click.

After selecting ‘Key Ratios’ the panel with Business Overview is replaced with a table and chart of the Key Ratio selected.

‘Key Stats’ right panels show the details of key financial metrics. Drill down on the metric to see a table and chart of that metric’s history.

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Detailed Financials – More In Depth Financial Metrics

More valuable financial metrics and history are presented in Detailed Financials. Access Detailed financials from: From Workspace, select Research then Detailed Financials From 'Key Stats' menu, select Financials, From any Telemet Page, the menu item Display / Research / Company History / Detailed Financials. From a Telemet custom column, double click on the company name and select 'Detailed Financials' Using 'Key Stats', look at the left side of the ‘Key Stats’ Page and pull down the rightmost menu item.

‘Key Stats’ has pull down menus to get to Detailed Financials fast. See Income Statements, Balance Sheets, Ratios, Cash Flows with a point and click.

Note underlines under some financial records. Drill down to see management footnotes on these items.

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Note down arrows on the columns. Click on a down arrow lets you enter another ticker to - in this example compare income statement data. In this case, we entered the ticker BMY...we are comparing JNJ income statements to BMY last quarter.

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Note the down arrows next to RESULT. Click on this to get to other Statements - such as Balance Sheets, Cash Flows and Ratios

See all the reports available for the equity. Select time period, statements and report options.

Press RUN when done.

For more visual comparisons among companies, press the Tab Key "Comparisons" at the top of the window.

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Select multiple periods for an individual financial metric, or single periods for multiple financial metrics.

Select the items you want to compare, here is shown "ratios"

Select the particular ratio

Select companies that you want to compare

As an example, here are the historical records for Gross Profit margin for Boeing, Honeywell and United Technologies

Clicking on an individual column, produces the bar chart comparing Gross Profit Margins for any one financial period at the left of the screen.

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Detailed Financials – Exporting Financial Data

More valuable financial metrics and their history are presented in Detailed Financials. The Detailed Financials may be accessed selecting the Research Workspace then 'Detailed Financials'. Alternatively, select the menu item "Display / Research / Company History /Detailed Financials". Never have to re-key data again. All Detailed Financial data may be exported to spreadsheets. Once in a spreadsheet, the data are ideal for creating models to perform 'what if' analyses and internal estimates. In addition to exporting these detailed financials, readers are reminded that all Telemet custom columns may be exported 'live' to MS Excel spreadsheets. This includes ratios, financial estimates, valuation measures, dividends as well as real time prices. See Volume I "Exporting Data to Excel" for these details.

Here is the Detailed Income Statement for JNJ. Note the upper right underlines. Export data with a point and click. "Export Current", Exports the current sheet - in this case the Income Statements. "Export All" exports all the financial statements, and ratios for JNJ.

Here is the Detailed Income Statement for JNJ. in a spreadsheet, all data are entered onto this sheet with one easy point and click Data in the spreadsheet may be now adjusted for your own assumptions on growth, margins, expenses, etc.

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History of Dividends, Sales and Splits

Historic Records pages provide easy access to historic dividend records, as well as sales and split information. Historic records of dividends, sales, income, eps and shares outstanding may be accessed several ways: From 'Key Stats', select "Company" then select Dividends (or sales or splits) - illustrated below From the Workspace, select "Research" and then select "Historic Dividends & Sales" From the any page, select the menu Display Research / Company History / Dividends (or Sales or Splits), From the "Snap Quote", double click on the dividend amount (see Custom Pages, Volume I) From a custom page, select the dividend column and 'double click' on it. From Charts as Chart overlays, select the "DI" tool, for example, to see an overlay of dividends on a price chart. You may also overlay Sales and Income on a price chart using the appropriate toolbar item.

In 'Key Stats' select the menu item, "Company" and select either "Dividends", "Sales" or "Splits" "Sales", shows by quarter the sales, income, eps, shares outstanding. Ten years of data are available.

"Dividends" shows by quarter, month, year (as applicable), the dividend amounts, x, record and pay dates. Up to ten years of data are shown.

"Sales", shows by quarter the sales, income, eps, shares outstanding. Up to ten years of data are available.

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Dividend displays dividend pay outs, x-date, record-date, and pay-date as well as the type dividend Dividend types shown on the Dividend Historic Records are: Aggregate (Payment of multiple, suspended or deferred dividends into one payment. This amount is the full distribution minus the amount paid in one period. The amount subtracted out appears in another record as the current regular dividend.),

Abbreviated as: Aggregate, Included in FY Div. Capital Gains (Capital Gains Distribution) Not included in FY Div, Abbreviated as: Cap Gains. Distribution (Payment not exclusively Net Income but no breakdown of Net Income, Capital Gains, etc.) (Distribution pays regularly or irregularly.), Not included in FY Div, Abbreviated as: Distribution.

Extra Income (Income distributed to share holders in addition to a regular dividend payment.), Abbreviated as: Extra

Dividend in Foreign Currency (Foreign company has declared a dividend in its home currency, Canadian dollar is the most common.), Not Included in FY Div

Abbreviated as: For Cur Ann

Gross Dividend in USD for Foreign Co. (Initial foreign amount converted to USD at announcement date.), Included in FY Div only if T,U,V,W records are not present. Abbreviated as: Gross Ann

Special (Special Income Distribution) (Income distribution not associated with a regular dividend.)

Included in FY Div, Abbreviated as: Special

Irregular (Income that is distributed at an irregular interval and not listed as a special.) (Currently, only the Holders meet this definition.), Not included in FY Div, Abbreviated as: Irregular Omitted (Dividend announcement should have been declared or suspended but the company did neither. Omitted entry will be deleted if the dividend for the omitted period is eventually declared), Abbreviated as: Omitted

Paid In Capital/Return of Capital (Distribution of Paid in Capital), Not included in FY Div, Abbreviated as: Paid in Cap Liquidation (Payments are a result of a liquidation.)

Not included in FY Div, Abbreviated as: Liquidation

Rights Redemption (Company cancelled right associated with common stock and paid compensation to share holders), Not included in FY Div, Abbreviated as: Rights

Dividend in USD for Foreign Co. (Initial foreign amount converted to USD at ex date.)

Included in FY Div only if U,V,W records are not present , Abbreviated as: Gro Div Ex - (Type T)

Net Dividend in USD for Foreign Co. (Initial foreign amount converted to USD at ex date less fees and taxes.) Included in FY Div only if V and W records are not present, Abbreviated as: Net Div Ex – (Type U) Dividend in USD for Foreign Co. (Initial foreign amount converted to USD at pay date.)

Included in FY Div only if W record is not present Abbreviated as: Gro Div Pay – (Type V)

Net Dividend in USD for Foreign Co. (Initial foreign amount converted to USD at pay date less fees and taxes), Included in FY Div, Abbreviated as: Net Div Pay – (Type W). Income (Regular Payment of Income, amounts may vary from period to period.) Included in FY Div, Abbreviated as: Income

Periods shown are:

Annual Semi Annual (S) Quarterly (Q) Bi- Monthly (B) Monthly (M) No period indicated

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H – Irregular Dividend in Foreign Currency (Foreign company has declared a dividend in its home

currency, Canadian dollars is the most common.) Not Included in FYD Abbreviation in Telemet: IrrForCurAnn I – Irregular Gross Dividend in US Dollars for Foreign Co. (Initial foreign amount converted to US Dollars

at announcement date.) Not included in FYD only if T,U,V,W records are not present Abbreviation in Telemet: IrrGrossAnn J – Irregular Gross Dividend in US Dollars for Foreign Co. (Initial foreign amount converted to US Dollars

at pay date.) Not included in FYD only if W record is not present Abbreviation in Telemet: IrrGroDivPay K – Irregular Net Dividend in US Dollars for Foreign Co. (Initial foreign amount converted to US Dollars

at pay date less fees and taxes) Not included In FYD Abbreviation in Telemet: IrrNetDivPay X – Irregular Gross Dividend in US Dollars for Foreign Co. (Initial foreign amount converted to US

Dollars at ex date.) Not included in FYD only if U,V,W records are not present Abbreviation in Telemet: IrrGroDivEx Z – Irregular Net Dividend in US Dollars for Foreign Co. (Initial foreign amount converted to US Dollars

at ex date less fees and taxes.) Not included in FYD only if V and W records are not present Abbreviation in Telemet: IrrNetDivEx

B - Short Term Capital Gains (Distribution of Capital Gains) Not included in FYD Abbreviation in Telemet: Sht Trm Cap M - Long Term Capital Gains (Distribution of Capital Gains) Not included in FYD Abbreviation in Telemet: Lng Trm Cap 1 - Irregular Gross Payment (Income that is distributed at an irregular interval and not listed as a

special.)(Currently, only the Holders meet this definition.) Not included in FYD Abbreviation in Telemet: Irreg Gross 2 - Irregular Net (Income that is distributed at an irregular interval and not listed as a special.)(Currently,

only the Holders meet this definition.) Not included in FYD

Abbreviation in Telemet: Irreg Net

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Search and Screen Search and Screen helps identify investment candidates. Search Telemet’s database for high yields, low p/e, combinations of growth and p/e, debt ratios, market cap etc. Over four hundred data fields may be searched and ranked and even more search fields can be constructed using mathematical combinations of such fields. The investment candidates uncovered may be priced, ranked by any data field and ordered by sector, industry or both. With one click, charts on all the opportunities may printed or a ticker list created. For further examination and discussion, professional quality reports are available using the Telemet Report Writer. Several prepackaged searches are included and others may be constructed by modifying them or created from scratch. Starting a Prepackaged Search Select the menu item Display / Search Screen / Open

Prepackaged Searches included (Select any of these with the menu Display /Search Screen / Open):

• Growth at a Reasonable Price, • Dividend Yield, • Sector Search • New highs and lows, • Small market cap with low institutional holdings , • low p/e.

Select Display / Search Screen / Open ... Select the search screen desired.

After results are returned, save these as a ticker list using Display / Save As...

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Modifying a Prepackaged Search The parameters of any prepackaged search may be modified to suit. Here is an example for Growth at a Reasonable Price. Select the menu item Tools / Query / Edit... Select the prepackaged search.

Select Tools / Query / Edit... and select the search to modify.

Identify the variable(s) to modify.

On this screen, the earnings growth must be greater than 20 – to change to 25, double click on the 20 and type in 25.

On this screen, the P/E must be less than 10 – to change to 15, double click on the 15 and type in 20.

Save as a new screen using “Save As”, type in a Name, press OK.

The handy logic patterns set up searches quickly. Pull down the list box and see simple logic patterns for searches. For example, select (A+B)|(C+D) presents –“if A and B are true or C and D are true- create the query result”. This saves typing. Other logic patterns can be selected.

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Creating a New Search from Scratch Select Tools / Query / New A window pops up and asks for a Query Name. Type a name for the query into the window. Then press the ENTER key or click on the OK button. A new Query Builder window appears similar to that shown below.

Select the first variable. Set the Market Cap > 750 (million) to eliminate low cap stocks.

Select ‘Financials’ In this folder is “Market Cap”. Click on it.

Market Cap is to be greater than so click on ‘Equal’ and select ‘Greater than’

Click on this box and enter ‘750’ so that “the Market Cap must be greater than 750 million”

Click on the > button. Select the condition AND. Another data entry line appears to enter a new data variable and its constraints.

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Once it is saved, you may recall it by using the menu Display / Search Screen / Open.

Repeat the process above – entering data fields and constraints to narrow the search.

Press the “Save As” button, enter the query name, then press OK.

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Corporate Actions Manually researching corporate actions is time consuming. Telemet provides fingertip access and alerts on corporate actions to tell when new ones occur. To see the Corporate Actions page: From the Menu item Display, Choose Research / Corporate Actions. From a Research Workspace, choose 'Corporate Actions" From a custom price page with a Corporate Action Alert column, double click on the alert 'Y' to see the Corporate Action. (see 'Double Click' actions in Volume I) From a custom price page with Company Names column, double click on the name, then select "Corporate Actions" Research / Corporate Actions display acquisitions, additional trading privileges, bankruptcy announcements and reorganizations, calls for redemption, open order cancellations, offer term changes, deletions, distributions including dividends and dividend changes, going private announcements, IPOs, liquidations, market class changes, mergers, name changes, new issues, trading suspensions and resumptions, spin-offs, splits, symbol changes, tender offers and transfers.

Select the menu item Display, then Research / Corporate Actions

See all actions, search by symbol, Ticker List or action type.

Specify the Start and End date for searches and search by effective or announcement date.

Drill down to see details on any action.

On a Custom Price Page, Set up the Corporate Action column. See “Adding Columns on Custom Pages” in Volume I of this Handbook.

Double click on the Alert to see the corporate action for the security.

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SEC Filings Typically without Telemet, you have to scan the SEC database daily for new publications of interest. This is time consuming and tedious. With Telemet's SEC alert column, the moment a new SEC document is filed, an alert "Y" appears on Telemet's custom page. By double clicking on the "Y" you get convenient, point and click access to the new filing. Thus Telemet saves you time. The alert tells you of new filings in your portfolios and then gives you direct access to the actual 10Ks, 10Qs and other documents.

Set up SEC Alert column and/or the SEC date column on your custom price pages. See “Adding Columns on Custom Pages” (Volume I).

Double click on the SEC alert column. This brings up the new filing to review or print (see below).

With just this point and click, the new SEC filing pops up to review or print.

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Company Snap Report When a client calls in and asks about a stock that you may know little about the Snap report may help. The Snap Report contains a description of the business, an historic chart, current market data, key statistics and peer comparisons. To access a Snap Report: From a Telemet window, select menu item Display / Snap Report. From a custom price page, click on a company name, then select Snap Report. From the tool bar, click on the Snap Report Tool. From a Snap Quote, press the [F11] key.

The peer comparative data at the bottom shows columns with trailing p/e, yield, eps and market cap. These data columns may be replaced with others. Click on the column header and select new data columns. See the chapter on custom price pages, “Adding Data Columns” in Volume I, for details on modifying data columns.

The Snap Report has a description of the firm and an historic chart.

Current and historic price data

Fundamental data about the firm.

Peer comparative data on other firms in the industry.

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Reports - One Pager and Three Pager The Report Writer helps create and print professional quality reports for distribution to clients and management. Telemet offers all clients the "Report Writer Handbook". It describes the many kinds of reports available and how to create them. Read below the summary of report writer features. Three popular 'prepackaged' reports are shown on the next pages. They are bundled with the Telemet Investment Platform. Many services charge thousands for these reports, but they included without additional charge. You can modify any report and insert your logo or other graphics objects. You can print any reports “one-off” or schedule a report to run, weekly or nightly using the “Scheduler”. Reports may be saved in pdf (Adobe Acrobat), text, html (Web format), rtf (MS Word), MS Excel formats. See the "Report Writer Handbook" for details.

The One Pager shows a chart of the security along with the S&P 500. Along the bottom of the report, see the capitalization, a brief description of the company, earnings estimates and various valuation measures such as price to earnings and price to book.

With the Report Writer, one and three page summaries of a company may be printed or reviewed.

Schedule Reports to print overnight or weekly using the Telemet Scheduler. See the Report Writer's Handbook for details.

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The Three Pager shows a chart of the security along with the S&P 500. Along the bottom of the first page of this report, see the capitalization, a brief description of the company, earnings estimates and various valuation measures just like the one pager. The second and third pages show historic records of price to cash flow and price to book along with historic records of p/e, eps, revenues and price to sales.

With the Report Writer the first page of the Three Pager is a summary of a company like the One Pager.

Among items on this page are historic records of price to cash flow and price to book value.

On this page are historic records of earnings per share, p/e and price to sales.

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Reports - DataChart

The DataChart brings together a 5 year price chart, valuation measures and financial records. See a chart of the security price along with an overlay of the S&P 500. In the upper right is a price chart for the most recent two months. Also, along the top of the page see key financial ratios, company address and phone number, dividends if any and a brief description of the company. At the bottom of the page are eps, revenue, return on equity and other records for five years along with quarterly eps revenue, and profit margins. If you have subscribed to earnings estimates they will be shown on the lower right.

DataChart shows company address and phone number, and key valuation measures at upper left.

DataChart shows a two month price chart at upper right.

DataChart shows financial records on the lower half.

If you subscribe to consensus earnings estimates and/or Vickers Institutional Ownership date, DataChart shows earnings estimates and institutional ownership at lower right.

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More Fundamentals on a Stock – Market Guide

Market Guide is a third party database bundled into Telemet. Market Guide shows fundamental data with a five-year income history, cash flow, and balance sheets on approximately 10,000 companies. In addition a company synopsis, some market capitalization information and investor relation’s contact name and phone number are presented. To see Market Guide:

From a Telemet window, click on the Market guide tool From a Telemet window, select the menu item Display / Research / Market Guide. From the Telemet Workspace select Research, then select Market Guide From a custom price page, double click on the company name column and select Market Guide. Enter the ticker symbol. Click on the OK button or press the Enter key. Market Guide may also be seen using a double click from a custom price page (see double click actions, in Volume I).

Market Guide contains business and financial summaries. Analyst's comments are shown along with summaries of institutional ownership and insider trading. Below per share data and ratios are balance sheet, income statement, investor contacts and cash flow statements.

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Technical Analysis Screening To watch for technical indicators, Telemet offers the ability to scan charts for technical alerts, such as when the 12 day moving average crosses the 26 day moving average. To set up a Technical Screen:

Select Technical Indicators

Left Click the mouse button to see this window and select “New”

Note the number of days back for the search. Give the technical search a name.

Press the ‘Add’ button

Select which stocks to scan

Select Research / MarketGlass

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MarketGlass searches are very fast. They are a convenient way to scan all charts for significant technical events that require further investigation as investment opportunities.

See a list of indicators to scan and click on one.

If the two line moving average were clicked, see this screen, change parameters if desired, click on ‘OK’

This will search for all tickers where the 12 day moving average crosses the 26 day moving average.

The results of the search show the event (crossing going up), the date and the ticker symbol

Double click on any symbol to see the ‘Action List’.

Select the Historic Chart from the action list to view a chart of the symbol identified in the scan.

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Technical Analysis - Price Limit Alerts Price Limit Alerts may be used to track either individual stocks or whole ticker lists. These limits can be applied to last prices, net changes, percent net changes, block trade size and trading volume. Limits may also be set on reaching a threshold, such as within X% of the 7, 30, 180 day or year high or low. 1. Alerts can be set to see when a last price hits a predefined price or when it is within a certain percent of the

weekly, monthly, quarterly, semiannual or year high or low. For example an alert can be set when a stock price (or any stock on a ticker list) hits the year high or is 110% (or for example 70%) of the year high, etc.

2. Alerts can be set on net changes. Thus alerts can be set to see when a net change exceeds a specific amount. 3. Alerts can be set on net percent changes. Alerts can be set the see when the percent net change exceeds a

specific amount for any stock or any stock in a ticker list. 4. Alerts can be set to see when block trades over a certain size occur. For example an alert can be set to see

when any block trade occurs over a certain size on any stock on a ticker list. 5. Finally alerts can be set to see when trading volume exceeds a specific amount. When the limits are hit, a window pops-up to show the event. To set up limits as mentioned above: Choose Tools / Limits.... From this Limits window select Criteria menu item.

Select menu item Criteria

See the limit setup window.

Check this box to launch the Limit monitor whenever Telemet is started. Uncheck the box if you do not want limits launched when Telemet is started (you may want to start them manually using Tools /

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Alerts on Last Prices

Alerts can be set to see when a last price hits a predefined price.

An alert can be set when any stock on a ticker list hits is 110% of the year high.

Type in the symbol, pull down the menu to select the type “Last >=” then type in the limit price.

Pull down the menu to select the type “Last >=”, then type “110” in the limit box, then select CRITERIA list box “% High of 360”.

THEN select from the list box SYMBOL “Selected list”

THEN select from the Ticker List box the ticker list desired.

THEN select “OK”.

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Alerts on Net Changes and Percent Net Changes Alerts can be set on net changes and percent net changes. Thus alerts can be set to see when a net change or a net percent change exceeds a specific amount.

Block Trade Alerts Alerts can be set to see when block trades over a certain size occur. For example an alert can be set to see when any block trade occurs over a certain size on any stock on a ticker list.

Pull down the menu to select the type “Positive Net % Chg”, then type “10” in the limit box

THEN select from the list box SYMBOL “Selected list”

THEN select from the Ticker List box the ticker list desired.

THEN select “OK”.

Pull down the menu to select the type “Block >=”, then type “100000” in the limit box (block over 100,000 shares)

THEN select from the list box SYMBOL “Selected list”

THEN select from the Ticker List box the ticker list desired.

THEN select “OK”.

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Trading Volume Alerts Alerts can be set to see when trading volume exceeds a specific amount.

Percentage of 180 day high alerts Alerts can be set to see when trading price approaches a percentage of various highs or lows.

The pop-up Alert window when price gets within 90 percent of the 180 day high looks like the image below. To close the alert window select menu Settings / Close Limits.

Pull down the menu to select the type “Volume >=”, then type “1000000” in the limit box (volume over 1,000,000 shares)

THEN enter a ticker in the SYMBOL box.

THEN select “OK”.

Pull down the menu to select the type “Last >=”, then type “90” in the limit box (over 90 )

THEN select “OK”.

THEN enter Criteria from the pull down "% of High 180" days for example.

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Technical Analysis - Charting Technical Indicators

Technical Indicators update in real-time. Thirty three indicators and studies are seen at the click of a button: Arms Ease of Movement Bomar Bands Directional Movement (DI+, DI-) Directional Movement (DX, ADX) Lowery Indicators Money Flow Moving Averages (1 Line) Moving Averages (2 line) Moving Average (Convergence/Divergence) MACD Moving Averages (Percent Bands) Envelope Moving Averages (Standard Dev Bands) Bollinger Price Channels Price Rate of Change Price Spread Relative Strength (Comparitive) Relative Strength (SP500) Relative Strength Index

Relative Strength Statistical Number Stochastics TICK TRIN Volitility Volume Volume 1 line Chakin Accm/Dist Volume 2 line Chakin Accm/Dist Volume 1 line Granville On Balance Volume 2 line Granville On Balance Volume 1 line Williams Var Accum Volume 2 line Williams Var Accum Volume Index Positive Volume Index Negative Volume Weighted Average Price Williams %R

Most indicators and studies have parameters that may be set to provide additional flexibility (eg. Moving averages not only contain the number of days for the average, but also smoothing – exponential, weigthed or simple and shift amount). The discussion on technical indicators is in Volume I of the Handbook, in the "Charts" Section.

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First Call, IBES & Zacks Consensus Reports The First Call, IBES and Zacks Reports are among the add-on, premium Telemet services. If you have access to these, select the menu item Display and select: From any Telemet window select Research / FC Consensus or Research / IBES Report or Research / Zacks From the Telemet Workspace, select Research then any of the 3 services above. Type in a ticker and press Enter. FC Consensus, I/B/E/S and Zacks reports display yearly and quarterly mean, median, high, low, standard deviation and last year’s data. The trend charts show the two year history of the estimates as well as surprise history.

Select Menu Display /Research / FC Consensus / Report – then enter the ticker symbol to see the FC Consensus estimate report.

Select Menu Display /Research / FC Consensus / Trend – then enter the ticker symbol to see the FC trend in estimates over 2 years.

See either the quarterly estimate trend or the yearly estimate trend

See “surprise history” press this tab.

See the impact of a surprise on price

Use the Text copy Tool to copy these data to a spreadsheet or word document - if you like.

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More on I/B/E/S Telemet I/B/E/S reports have a more statistics than FC Consensus and consist of four sections. The first section contains mean estimates, the high and the low estimates, and the number of estimates in the previous month that have increased or decreased, as well as their mean percent change. The second section shows estimate trends with the percentage change in the mean estimate over the past week, month, and quarter, as well as the mean over the last four weeks. The third section compares the year to year company's EPS change to the industry EPS change over the same period. Changes between the company and industry EPS and the S&P 500 EPS are also shown. The fourth section shows the ‘surprise history’. This indicates percent difference between actual and expected EPS over the previous eight quarters. The spread in estimates and the ‘surprise score’ are shown. The I/B/E/S trend charts are similar to FC Consensus Trends. More on Zacks Telemet Zacks reports have a more statistics than either FC Consensus or I/B/E/S and contain revenue estimates as well as eps estimates. There are also four sections to the Zacks reports, consensus, trends, surprise and price impact.

First Call Notes The First Call Notes is among the add-on, premium Telemet services. If you have access to First Call Notes, select the menu Display /Research / First Call Notes... then enter the ticker symbol. All Research Notes for the ticker are displayed. Search depth is selected by specifying the “number of days to search”. If you have access to First Call Notes, you can set up alerts on custom price pages to show when a new note arrives on a stock that is on the custom price page. All search functions associated with the Dow Jones News (see the first section of this document) are applicable to First Call Notes. Thus you may search on key words, analysts, subjects. Combine Dow Jones News and First Call Notes in one window and see all the news and research for a ticker in one page.

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Vickers Holdings The Vickers Holdings is among the add-on, premium Telemet services. Two databases comprise Vickers Holdings. 1. The Insider Holdings database displays holdings, trades and trade history of corporate officers, directors and 5%

shareholders. See the shares held, shares traded, dates traded. Drill down to see other holdings of these officials.

2. The Institutional Holdings database shows holdings, changes in shares held and holdings history for large

money managers, insurance companies, mutual funds and banks. Drill down to see all positions or look at a stock and see the holdings by institution and the changes in holdings. Fund manager contact name and phone numbers are shown too.

If you have access to Vickers Holdings, select the menu Display /Research / Vickers./ Institutional Report select a ticker to see the institutional holdings for that ticker.

Select the menu Display /Research / Vickers./ Insider Report. Enter a ticker symbol. Select “Security” tab, see insider trades & history for the ticker. Click on “Filer” tab, see insider holdings. Type in the beginning of the insider’s name.

Type in the ticker and see institutions that hold this stock

Double click on the institution name to see other holdings for that institution.

Click here, then type in the beginning of an institution’s name to see holdings for that institution

Double click on any column header to sort by that column

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Selecting an institution will show the latest report of all holdings of that institution. Below is the search for the holdings of the Legg Mason Value Trust.

You may select the menu item "Options" then "Copy" to copy the data. Then open a spreadsheet and select "Paste" ... all the data from the report are now in a spreadsheet.

Select "Options" then "Copy" to copy the data for all these holdings

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Tools for Redistribution

Teleport Telemet’s Third Party Data Importer, called “Teleport” is an ideal way to display hard-to-distribute data from any source internally to your subscribers. For example, third party data and your investment opinions appear right on Telemet for your subscribers only. Telemet thus becomes an ideal “viewer” and analyzer for these data. Here is a real-world business case (with the name withheld). An investment manager at SmartCo has used a very expensive software package to distill data for over 5,000 public companies. The distilled data for each public company includes financials as well as suitability scores extracted from these data. These distilled data reside on the investment manager’s PC. Since the software package is expensive, SmartCo cannot deploy the software package to each user desktop. But the results of analyses - the financials as well as suitability scores - can be “downloaded” to a file (such as a spreadsheet) on the SmartCo in house network to share as needed. Telemet’s Teleport, the Third Party Data Importer, takes SmartCo’s spreadsheet data and ‘sends’ it to all the Telemet users at SmartCo. Each Telemet user at SmartCo now has access to the spreadsheet data. Telemet custom pages, which show real-time prices for portfolios and ticker lists can show these spreadsheet data. Thus SmartCo Telemet users can see the data on a Telemet custom page and use it for reports or as search criteria for further analysis. It is important to note that Teleport handles the data in real-time. When SmartCo updates the financials and suitability scores and puts them in a file, the updated results immediately appear on each of SmartCo’s Telemet user’s custom pages. SmartCo’s users have the most up-to-date information, right on their fingertips, so that they can make the most informed and timely investment decisions. Clearly this is efficient and very cost effective. Third Party Data Imports can help your firm become more efficient and get important investment data to users more quickly. The Third Party Data Imports are bundled in as part of Telemet’s “Single Solution” for your investment management – so once you have Telemet, this resource is at your fingertips. A complete TelePort Information Booklet is available from Telemet on request. It shows the sequence of steps to put third party or internal data onto the Telemet Platform. Telemet will happily visit your site to help your team simply and quickly guide you thorough the process.

Teleflash TeleFlash offers you a way to distribute, categorize and store analysts’ research and other internal data to your internal Telemet subscribers. Research and internal data are displayed on only your Telemet Orion workstations. The results can be recalled from these workstations like the Dow Jones News Service. Thus TeleFlash helps you distribute timely research to your investment professionals, organize these data and recall past research for review and evaluation. Your internal research can be recalled on any Telemet Orion workstation: • by ticker symbol • in a separate display window • commingled with Dow Jones News stories • by alerts The research may be stored for up to 180 days and indefinitely on the database server which stores the results.

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Teleflash has 2 major components, the “Publication Services” and the “News Editor”: 1. "Publication Services component The "Publication Service" is installed once. The Publication Service: (a) describes where to create database, (b) identifies the Fifth Third quote servers, (c) creates "news story" database, (d) installs and launches services that retrieve and send published research results to the Fifth Third quote servers. The Publication Service Software Platforms can be:

- Win NT/Win2000/Win XP with - MS ACCESS or - SQL Database on a MS SQL Server.

The Publication Service Hardware Requirements:

- Hard Drive's capacity that hosts "research results" database should hold the results (number of published results, average length, number of days stored)- 80 GB should be sufficient for most applications.

- RAM: 128MB minimum - CPU: no special requirements

2. TeleFlash News Editor component. TeleFlash News Editor component can be installed on multiple desktops. (one per analyst). The software: - initates/captures/edits/and or deletes research - saves this research to the database - publishes this research for dissemination to users A text length limit exists for each published research result. It is 15 Kbytes per research result (about 1,500 words/research result). This can be modified if necessary. News Editor Component Software Platforms (analyst desktops):

Windows 95, 98, NT 4.0, 2000 or XP News Editor Component Hardware Platforms (analyst desktops):

Hard Drive's: no special requirement RAM: no special requirement CPU: no special requirement

A complete TeleFlash installation guide is available from Telemet on request. It shows the sequence of steps to guide one through the installation procedure. Telemet will happily visit your site to help your team simply and quickly execute the process.

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When All Else Fails!

The Telemet Orion Help Desk is open from 8:30 AM through 5:30 PM ET (703-548-2042 or 800-368-2078). If it is after 5:30 PM try the new on-line help Files. Updated Index ticker lists, Market Makers by name or by symbol, and general help on all screens is available with the pull down menu item Help, or the F1Key.

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INDEX

Attribution, See Portfolio Management Balance, See Portfolio Management Block Trade Alerts, 28 Bond Prices, See Fixed Income Call provisions, See Fixed Income Charts, See Market Data Company History, 9 Composite yields, See Fixed Income Corporate actions, 16 Coupon Rates, See Fixed Income Custom Page, See Market Data Custom Pages, See Market Data Data Import, See Market Data Descriptive Fixed Income Database, See Fixed Income Dividends, 9 EDGAR alerts, 17 Excel, See Market Data Filters.,See Time & Sale. See Tape. See News First Call, 30 First Call Notes. 30 Fixed Income See Market Data Fundamentals on a Stock, 4 Greeks. See Options Montage Group headers, See Market Data Holdings Pages. See Portfolio Management IBES, 30 Industry movers, See Market Data Industry Performance, See Market Data Intermarket Yield. See Fixed Income Issuing Agency. See Fixed Income Limit Alerts, 25 Market Data, See Market Data, Volume I Market Guide, See Research Market Link, See Market Data Market Makers, See NASDAQ Level II Market Summary Pages, See Market Data Moody Ratings. See Fixed Income Most % Down, See Market Data Most % Up, See Market Data NASDAQ Level II, See Market Data New Ticker List, See Market Data News, See Market Data Off-the-run treasuries. See Fixed Income One page company summary, 19 Options Analytics, See Market Data Options Montage, See Market Data Performance Chart. See Portfolio Management Portfolio Management, See Volume III Rebalance. See Portfolio Management Report Writer, 19

Research, 1 10Ks, 75 10Qs, 75 Block Trade Alerts, 28 Company History, 9 Corporate actions, 16 Dividends, 9 Edgar Alerts, 17 Export to Spreadsheets, 8 First Call Consensus, 30 First Call Notes, 30 Fundamentals on a Stock, 4 IBES Consensus, 30 Limit Alerts, 25 Modifying Search, 13 New Search, 14 One page company summary, 19 Overview, 1 Prepackaged searches, 12 Reports, 19 Sales History, 73 Search, Screen and Rank, 67 Smart Paste, See Market Data Snap Report, 18 Split History, 9 Technical indicator Alerts, 25 Technical indicators, 23 Trading Volume Alerts, 28

Search, Screen and Rank. 12 Smart Paste, See Market Data Snap Analytics, See Market Data Snap Quote, See Market Data Snap Report, 18 Splits, 9 Tape, See Market Data Technical indicators, 23 Ticker List, See Market Data Time & Quote, See Market Data Time & Sales, See Market Data Trader’s View, See Market Data Linking windows, See Market Data Workspace, See Market Data Trader’s View Workspace, See Market Data Time & Sales, See Market Data Trading Volume Alerts, 28 Vickers Holdings, 32 Yields Curve. See Fixed Income Yield Spreads. See Fixed Income