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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/30/2001 12:47:33 PM
From: besttrader	of 37746

12:30 ET Dow -97, Nasdaq -77, S&P -14.64: [BRIEFING.COM] It continues to be a very weak day for equities. The Dow is now posting a triple digit loss while the Nasdaq has lost 3.6% of its value at this point in the day. PC and Hardware-related issues are particularly weak today. Sun Microsystems (SUNW -11.4%) is contributing to this weakness, but a price war in the PC sector isn't helping matters either. In this case, not only is Gateway (GTW -2.6%) acknowledging a margin-eroding battle for market share, the company is actually out publicizing it. GTW has issued a press release this afternoon announcing a limited-time program to beat the price of comparable systems offered by competitors. This program is yet another anecdotal indication of continuing softness in the domestic economy. On the broader markets, pockets of strength are difficult to find as today's sell pressure is broad. Nonetheless, defensively oriented sectors such as utilities and health care are managing to garner some buy interest. DJTA -0.5%... DJUA +0.2%... SOX -5.2%... XOI -0.3%... BTK -2.3%... Nasdaq 100 -4.0%... S&P Midcap 400 -1.4%... Russell 2000 -1.2%... NYSE Adv/Dec 1072/1777... Nasdaq Adv/Dec 922/2565.

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