This optimistic article notes Hartford Financial Services' (HIG) recently announced plans to repay TARP funds, as well as the stock's impressive 52-week ascent. However, some on the Street think HIG's rally may be running out of steam. For instance, John Nadel of Sterne Agee calculates the equity's fully diluted book value at $31.70 per share, meaning the stock is trading at about 90% of book value. Plus, the analyst says Hartford "trails competitors in key areas, like its credit rating and expected return on equity."

Nevertheless, the columnist points out that many HIG fans think the security's book value is "substantially higher." More specifically, the author says that, with the company sitting on $5 billion of unrealized securities losses that could be reversed as credit markets rebound, "future dilution could end up being a lot less." In fact, assuming the stock's per-share book value is instead around $37, HIG is trading at a more attractive 77% of book – implying that "the stag's run may not be over."

With the shares of HIG boasting a 12-month gain of more than 220%, it's no surprise that option speculators have flooded the bullish bandwagon. During the past couple of weeks, traders on the International Securities Exchange (ISE) and Chicago Board Options Exchange (CBOE) have bought to open almost five times more HIG calls as puts. In fact, the security's 10-day call/put volume ratio of 4.73 stands only nine percentage points shy of an annual optimistic acme. In other words, option players on the ISE/CBOE have initiated bullish bets over bearish at a faster clip only 9% of the time during the past year.

In that same vein, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.78 indicates that calls comfortably outnumber puts among options with less than three months to expiration. What's more, this reading registers in the 39th percentile of its annual range, pointing to a more-optimistic-than-usual outlook among most short-term options speculators.

However, there's one group notably absent from HIG's bullpen: analysts. According to Zacks, only six out of 19 ranking analysts consider HIG worthy of a "buy" or better rating. In addition, the average 12-month price target on the stock stands at only $29.25, Thomson Reuters reports, less than a point above the equity's closing price of $28.58 on Wednesday.

From a contrarian standpoint, the bearish holdouts among the brokerage bunch could actually be a boon for HIG. Should the financial concern continue to make progress both on and off the charts, the lingering skeptics could convert to the bullish bandwagon. A fresh wave of upbeat analyst endorsements could help HIG extend its year-to-date climb.

Ford Motor Co. (F) recently reported its first annual profit in four years. Sales are improving, and investors have pushed its stock up 550% in the past year. In fact, Ford passed General Motors in monthly car sales for the first time in 12 years. Nonetheless, sentiment is mixed toward the shares.

Chris Ceraso of Credit Suisse is concerned about growing competition. "Ford is now introducing some very good mid-size and subcompact cars like the Fiesta -- but these are categories with a dozen strong competitors." In addition, "Some investors may not realize that Ford's share count has more than doubled in the past two years. Ford's market capitalization is now higher than it has been since 2001 -- when Ford had 22% market share in the U.S. (It's now almost a third lower.)"

While not outright short the shares, Ceraso rates the stock "neutral" and thinks it could decline to $10 in the next year.

Meanwhile, Michael Ward of Soleil Securities believes that Ford has used the downturn to successfully restructure costs and position new vehicles, such as the Fiesta, to capitalize on an improving industry environment. "Historically, Ford shares have been valued at three to four times trailing earnings before interest, taxes, depreciation and amortization. But in the early stages of a recovery a higher multiple is typical because the market is considering earnings two years ahead. Our $13-per-share target price assumes a multiple of five times expected 2011 EBITDA, or nine times expected earnings per share."

Overall, options players are skeptical of the shares. The Schaeffer's put/call open interest ratio comes in at 0.95, as put open interest nearly equals call open interest among options slated to expire in less than three months. This ratio is also higher than 78% of all those taken during the past 12 months, pointing to extreme skepticism.

Short interest is also on the rise. During the past month, the number of F shares sold short increased by nearly 8% to 177 million. This accumulation of bearish bets accounts for 5.5% of the company's total float.

Technically speaking, the stock has gained more than 34% since the beginning of the year and it continues to gain ground along the support of its 10-day moving average. An unwinding of this pessimistic sentiment could fuel added gains in the shares.

This article waxes nostalgic on the promise Palm, Inc. (PALM) presented in early 2009, with former Apple Inc. (AAPL) and Nokia (NOK) executives on staff, a substantial cash infusion to its balance sheet, and the impending debut of the Pre handset, amongst other factors. However, the shares of PALM have negated all of their gains since then – a defeat the columnist essentially blames on the brutal competition of the smartphone market.

"It takes absolutely huge scope, scale and investment to play successfully at any level in the handset game," states the author. "The way I see it, AAPL has staked a durable claim to the high-value side of the smart phone sector, and it is highly unlikely it will do anything but gain ground." However, the columnist claims, while AAPL may dominate, the Silicon Valley sultan isn't the only competition plaguing PALM.

Aside from Google Inc.'s (GOOG) increasingly popular Android, Research In Motion Limited (RIMM) is "in the process of making inroads in China," which represents the largest handset market in the world. In addition, Nokia (NOK) "appears to be getting its act together," with the columnist predicting the firm's comeback with Symbian. As such, the author concludes by stating, "The more I sort through the variables, the fewer opportunities I see for PALM."

Aside from the stock's fundamental and technical concerns, the most alarming thing – from a contrarian standpoint – is the relatively high hopes among option traders. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.80 indicates that calls outnumber puts among near-term options. Plus, this reading registers in the 21st annual percentile, implying that short-term speculators have been more bullishly biased toward PALM only 21% of the time during the past year.

What's more, the optimism in the option pits continues to accelerate, according to the latest data from the International Securities Exchange (ISE). During the past two weeks, PALM has racked up a call/put volume ratio of 1.85 – only 20 percentage points from a 52-week acme. In other words, option players on the ISE have rarely scooped up PALM calls over puts at a faster pace during the past 12 months.

Should the smartphone concern continue to struggle both on and off the charts, the lingering bulls could abandon ship. An unwinding of optimism among option traders could further exacerbate PALM's year-to-date dip of more than 44%.

On Friday morning last week, Ann Taylor Stores (ANN) reported a profit as "sales showed signs of stabilizing," notes this Barron's article. The shares slipped following the report, and the author believes that there is more downside in the works for ANN, citing valuation and the lack of a blowout quarter.

Given the stock's more than 530% gain during the prior 12 months, ANN now trades at 27.5 times forward earnings, the article states. For comparison, the author notes that Chico's FAS (CHS), Nordstrom Inc. (JWN), and J.Crew Group (JCG) all trade with forward P/E ratios in the mid-teens. What's more, the Street is anticipating that revenue will shrink year-over-year in 2011.

Analysts agree with this dour outlook, with Wedbush Morgan noting that "the company is in the early stages of a comp and margin recovery," making its 530% gain difficult to justify. Furthermore, Wall Street Strategies analyst Brian Sozzi believes that Ann Taylor may have pricing problems when it returns "to full-price business longer-term." Finally, Sozzi also takes issue with ANN's recent run-up, calling it "the richest multiples...within our specialty apparel sector coverage."

The interesting development is that while analysts debated whether ANN shares were overvalued or not, the stock soared to an impressive year-over-year gain. What's more the shares are poised to continue this rally, as there is plenty of sideline money that could be brought to bear on ANN. For instance, more than 20% of the stock's total float is currently sold short. Should ANN continue to defy analysts' forecasts for a decline, these bears could decide to cut their losses, resulting in a potential tailwind of buying pressure for the shares.

In the options pits, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.85 ranks in the 39th percentile of its annual range. This ratio could be headed lower, as data from the International Securities Exchange (ISE) and Chicago Board Options Exchange (CBOE) indicate that calls bought to open during the prior two weeks have more than quadrupled puts purchased. One has to wonder, however, if the recent surge in call buying is related to bullish speculation or nervous short sellers hedging their positions.

Finally, analysts have currently doled out 11 "hold" or worse ratings, compared to just five "buys." What's more, Thomson Reuters reports that the average 12-month price target for ANN rests at $18.19 per share - a discount to the stock's close at $19.29 on Friday. If these naysayers begin to tire of betting against this rising stock, the resulting upgrades or price-target increases could provide additional buying pressure for ANN shares.

In this negatively skewed article, the author highlights the shortcomings of General Electric Company (GE) by comparing CEO Jeff Immelt with widely respected Berkshire Hathaway (BRK) boss Warren Buffett. The article observes that shareholders "have lost tens of billions of dollars" since Immelt took the reins, even though the CEO has snagged "around $90 million in salary, cash and pension benefits" during the same time frame. Conversely, the bulk of Buffett's net worth is tied up in his own stock.

As the author observes, Immelt's personal fortunes aren't directly tied to GE's stock performance, since the CEO has purchased relatively little GE stock with his own capital. So, whether investors win or lose, Immelt's personal bottom line continues to benefit. While the author adds that external factors have also influenced GE's share price during the past decade, it's intriguing to note that the overall U.S. equities market has gained about 10% since Immelt took the top spot at GE, while shares of the blue-chip conglomerate have lost 40% of their value.

On the charts, shares of GE have been treading water in the mid-teens for quite some time now, with the equity exploring the same stomping grounds it inhabited during 1996 and 1997 -- well before Immelt assumed his current role as CEO.

However, GE is making a noble attempt to shed its laggard status. The stock has added nearly 9% in 2010, compared to a gain of just 1.8% for the broader Dow Jones Industrial Average (DJIA). Resistance from the $17 level remains stubbornly intact, but rising support from GE's 10-week and 20-week moving averages could help the shares conquer this looming hurdle.

However, the general lack of skepticism on GE is a point of concern from a contrarian standpoint. The stock has attracted massive call buying on the International Securities Exchange (ISE) during the past 10 days, with nearly five times more calls than puts bought to open. Plus, short interest accounts for a nearly negligible 0.6% of the security's float.

While the technical outlook for GE is improving, the stock won't truly be out of the woods until it topples intermediate-term resistance at $17. But, with so many traders already camped out in the bullish bandwagon, GE could have trouble finding enough new buyers to continue its intermediate-term uptrend. For now, it seems a safe bet that Immelt's financial performance will continue to outshine that of his company.

eHealth Inc. (EHTH) shares have stalled recently, and The Wall Street Journal cites growing concerns that the U.S. government will launch an online health care exchange that competes with the company. However, the Journal cites comments from Cowen & Co.'s Jim Friedland, who says that Blue Cross Blue Shield has garnered more business from eHealth than from Massachusetts' exchange. Furthermore, the article notes that eHealth would be a "natural candidate" to host the government's service, should it choose to outsource.

Ultimately, the author believes that eHealth can stand on its own in any event. Specifically, "the company is debt free, with an enterprise value of about 11 times free-cash flow." Given this valuation, the Journal states that investors should have plenty of protection against any surprises from Congress.

Judging from EHTH's sentiment backdrop, investors aren't buying the Journal's optimistic outlook. For instance, the stock's Schaeffer's put/call open interest ratio (SOIR) of 3.76 arrives at an annual bearish peak, as puts nearly quadruple calls among near-term options. Elsewhere, short interest on EHTH soared nearly 50% last month, resulting in roughly 8% of the stock's float sold short.

Even Wall Street analysts are jumping on the bearish bandwagon. According to Zacks, nine of the 14 brokerage firms following EHTH rate the shares a "hold" or worse. Meanwhile, Thomson Reuters reports that the average 12-month price target rests at $17.38, a discount to the stock's close at $17.50 on Wednesday.

This wealth of negativity is quite surprising, given that EHTH has bested the S&P 500 Index (SPX) on a relative-strength basis by more than 16% during the prior 60 trading days. The shares continue to rally higher along support at their 10-week and 20-week moving averages, and have even broken above former resistance at their 80-week trendline. The stock is staring up at resistance in the 18.50 region, but this could be a minor speed bump for EHTH given its current momentum, especially if bearish investors begin to come around to the Journal's way of thinking.

While the article is quick to point out that Citigroup (C) lost billions in the financial crisis and is still loaded with toxic assets, the writer found several sources who believe the worst is over, among them Bruce Berkowitz, who manages the $11 billion Fairholme fund and was recently named Morningstar's U.S. stock manager of the past decade. Berkowitz recently bought more than $700 million worth of Citigroup shares.

Berkowitz argues that the firm's balance sheet is slowly improving. He calculates that even its bad assets now return more than 5%. Furthermore, Citigroup has some of its highest capital ratios in years after the U.S. Treasury and other regulators thoroughly examined its balance sheet.

What's more, he says, the stock is cheap. It trades at 0.8 times tangible book value, which doesn't include goodwill or other intangibles like intellectual property. That's almost half the ratio of its peers.

Berkowitz isn't the only one to jump on the stock. Hedge fund legend George Soros bought nearly 100 million shares in the fourth quarter of 2009; John Paulson of Paulson & Co. added more than 200 million shares; and Daniel Loeb's Third Point bought shares worth $83 million.

"It's unclear to me how much our shareholders are going to make," says Berkowitz, "but it's becoming quite clear to me they're not going to lose."

While the article is optimistic, sentiment elsewhere is mixed. Wall Street has its doubts about the firm. According to Zacks, the stock has earned seven "strong buys," 10 "holds," and two "sells." This configuration leaves ample room for potential upgrades that could boost the shares higher.

On the other hand, options players remain optimistic about the stock's prospects. The Schaeffer's put/call open interest ratio for C stands at 0.48, as call open interest doubles put open interest among options slated to expire in less than three months. This ratio is also lower than 92% of all those taken during the past 12 months, indicating that short-term options players have been more optimistically aligned toward the shares only 8% of the time.

Technically speaking, the equity has gained a respectable 7.5% since the beginning of 2010, jumping higher off support at its 10-day moving average and climbing above short-term resistance at the 3.50 level. The security has also tackled its 10-week trendline, which is turning higher. A continuation of this technical strength could shake loose the rest of the bears, creating fresh buying pressure.

Though some would argue that Apple Inc.'s (AAPL) long-term journey higher may be coming to an end, this Fortune blog lists five reasons why the stock may have more fuel in its tank.

Citing Bob Turner, Chief Investment Officer of Turner Investments, the columnist first points out the rampant growth of tech-related spending. Turner estimates that technology spending could be about double the GDP, "growing in the range of 8% to 10%" thanks to "must-have products like the iPhone, a booming app store, and [Apple's] increasingly popular notebooks."

On that note, the blogger calls Apple "the most innovative company in the world," pointing to its always-packed stores and the firm's ability to "create a need" rather than meet demand. Plus, Turner says, the company hasn't even maxed out the iPhone's market share, with "only about 3% of total handsets sold now."

Furthermore, Apple's earnings growth has been "phenomenal," Turner argues, noting the company's compound annual earnings growth rate of more than 85% over the last seven years. In that same vein, the investment manager points out that AAPL is trading at 17 times the 2010 consensus earnings estimate, and 15 times the 2011 estimate, making its price-to-earnings ratio "attractive" even when the security is trading well above $200 per share.

On the other hand, one could argue that AAPL's bullish bandwagon may be getting crowded – often a bearish signal, from a contrarian standpoint. Though the shares of AAPL tagged a new all-time high of $225 today, the stock's Relative Strength Index (RSI) currently rests at a lofty 70, verging on "overbought" territory.

Plus, according to Zacks, 35 of the 38 ranking analysts already deem AAPL a "buy" or better rating – 30 of which consist of "strong buy" endorsements. In addition, Thomson Reuters pegs the average 12-month price target on the stock at $255.05 – nearly 30 points above the equity's new all-time acme. This extreme bullish bias among the brokerage bunch leaves little room for upbeat analyst attention to help fuel the stock's rally.

In similar fashion, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.98 ranks in the 34th percentile of its annual range. In other words, short-term options speculators have been more optimistically aligned toward AAPL only 34% of the time during the past year.

In conclusion, while Apple's fundamental backdrop appears solid, the security's sentiment backdrop may leave contrarian investors questioning how much – or little – room is left in the bullpen.

Qualcomm Inc. (QCOM) shares have careened lower from their 52-week high of $49.80 on Jan. 8, to Friday's close at $38.76, and this Barron's article places much of the blame on Apple Inc. (AAPL). The iPhone guru was expected to announce a Verizon Wireless (VZ) version of the popular smartphone, one for which QCOM would have made the wireless access chip. When AAPL failed to make such an announcement, investors fled QCOM in droves.

However, the author argues that you shouldn't hang up on QCOM just yet. The company had strong revenue from other handset makers, including Motorola (MOT), Research In Motion Limited (RIMM), Palm Inc. (PALM), and Nokia Inc. (NOK). Additionally, the article says that strong partnerships with these customers should overshadow reports that average asking prices (ASP), a key sales metric for the industry, are declining for QCOM.

Charter Equity Research analyst Ed Snyder supports this rationale. "We've never been a fan of the blended ASP metric because it is widely misrepresented as a good indicator of price erosion when it is not," says Snyder, who still rates Qualcomm a "buy." In any event, Snyder contends that ASP "will probably improve in June" anyway.

An iPhone contract represents real growth potential for QCOM in a highly competitive industry. So, it's completely understandable that investors hoping for such a contract would jump ship when it became clear that one would not be forthcoming anytime soon. Furthermore, questioning an industry indicator like ASP is fine, I guess, but it doesn't take into account the negative investor reaction to the data.

Judging by QCOM's sentiment backdrop, the stock was due to blow off some steam anyway. Expectations were high heading into the supposed AAPL announcement, and we still haven't seen a real abatement of this excessive optimism. For instance, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.63 indicates that calls easily outnumber puts among near-term options. This ratio also arrives lower than 85% of all those taken in the past year, meaning that options traders have been more bullish toward QCOM only 15% of the time during this time frame.

Additionally, data from the International Securities Exchange (ISE) and Chicago Board Options Exchange (CBOE) reveals that calls bought to open nearly tripled puts purchased during the prior two weeks. This rising call-buying activity in the face of QCOM's recently poor technical performance has bearish implications from a contrarian perspective.

Wall Street analysts also pose a significant problem for the equity. According to Zacks, 27 of the 33 brokerage firms following QCOM rate the shares a "buy" or better. What's more, Thomson Reuters reports that the consensus price target for QCOM sits at $49.77 per share, a premium of 28% to Friday's close. Any downgrades or price-target cuts could exacerbate the stock's current downtrend.

Technically speaking, QCOM rebounded more than 5% last week, but the shares are staring up at several potential hurdles. First, the shares much overcome resistance at their 80-month moving average, which is currently perched at 39.47. The shares had trouble with this trendline in January and February 2009, and it could create a barrier for any advances heading forward. What's more, the round-number 40 level is home to long-term support and resistance for QCOM. If the equity fails to overcome these technical hurdles, we could see bullish investors abandon their positions for greener pastures.

This article takes an upbeat look at Automatic Data Processing (ADP), the payroll processor whose monthly employment reports are widely regarded as a bellwether for the jobs market. The author notes that ADP "seems to be weathering tough times well. It has a robust cash flow, virtually no debt, and a continually rising dividend." Since the company is thriving in the face of a challenging economy, this bullish piece suggests that ADP is well-positioned to rise even higher as the employment picture improves.

Even if unemployment remains stubbornly high, says the author, ADP's diversification efforts should pay off. Despite slipping payrolls, the company can continue to sell "nonpayroll-related services, like human resources, outsourcing, and tax and benefits administration." Plus, the firm's dealer-services segment is already enjoying healthy market-share gains. Overall, asserts this optimistic article, ADP's deft management amid a challenging macro environment should pay dividends for investors.

ADP has shown serious mettle on the charts this week. After six consecutive weekly closes beneath its formerly supportive 10-week and 20-week moving averages, the stock has elbowed its way back atop these intermediate-term trendlines. Going forward, these moving averages could resume their previous role as a double-barreled backstop.

Plus, there's a decent supply of pessimism that could unwind to support additional upside. ADP's 10-day International Securities Exchange (ISE) put/call volume ratio stands at 2.60, as puts bought to open have more than tripled calls during the past two weeks. This ratio ranks in the 94th annual percentile, indicating that traders have rarely purchased bearish bets over bullish at a faster pace.

Going forward, traders will want to keep an eye on ADP's progress near the $45 level. This region has previously acted as resistance, and could rear its head again to thwart the equity's rebound. However, if the shares can extend their positive momentum and conquer this looming technical threat, ADP will be well-positioned to benefit from a shift to the bullish camp.