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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject5/18/2001 12:52:46 PM
From: besttrader   of 37746
 
12:30 ET FuelCell Energy (FCEL) 91.00 +5.72: -- Update -- Technical -- An amazing run over the last three days (20 points) as the combo of plenty of press and momentum/volume have underpinned. Not attempting to fight this momentum but with the market very overextended technically on a Friday there is potential for a quick round of profit taking. Intraday would watch 92 level for indication that the bulls are looking to stage another run. Next solid resistance is near at hand in the 94/95 area




12:28 ET New York Times (NYT) 42.90 +0.62 (+1.5%): -- Update -- Reports that pro forma advertising revenue for its Newspaper Group decreased 15.4% for April.




12:09 ET Comverse Tech (CMVT) 65.38 -5.43: Trading floors searching for reasons for today's weakness: a Dain Rauscher note from before the open said the company remains cautious regarding the overall economic outlook, but this was nothing new. Also being cited is the potential ALA/LU merger, though we haven't been able to find much of a threat here (LU competes in wireless voicemail, but wouldn't necessarily be a stronger competitor with ALA). Finally, there's the simple possibility that it's pulling back after two days of solid gains.




11:56 ET InfoInterActive Inc (IIAA) 1.04 unch: Agrees to be acquired by America Online (AOL) for $1.42 per share in cash; IIAA is an Internet call management services provider, company recently launched the world's first call waiting service for the Internet, allowing people to manage incoming phone calls while online.




11:33 ET Instinet (INET) 18.50 +4.50: -- Update -- IPO opens for trading; early prints were between $18 and $18.50.
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