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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject5/7/2001 12:38:52 PM
From: besttrader   of 37746
 
12:30 ET Dow -43, Nasdaq -9, S&P -4.39: [BRIEFING.COM] Still lower across the board in a market that is lacking in conviction. In
light of the relative Nasdaq weakness, drug companies are experiencing buy interest today. Sector interest is due in part to a move by Swiss
healthcare group Novartis to purchase a 20 percent stake in Roche Holding. The group has strengthened throughout today's session with
Pfizer (PFE +0.5%), Schering-Plough (SGP -0.02%) and Bristol-Myers Squibb (BMY +1.6%) each trading towards the day's best levels.
On the broader markets, technology, financials and retail are on the defensive and the indices aren't likely to piece together a rally unless
these groups can participate with moves to the upside. DJTA -0.5%... DJUA -1.0%... SOX -0.8%... XOI +0.1%... BTK -0.2%... Nasdaq
100 -0.8%... S&P Midcap 400 -0.5%... Russell 2000 -0.2%... NYSE Adv/Dec 1372/1457... Nasdaq Adv/Dec 1768/1735.
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