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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject6/6/2001 11:50:08 AM
From: besttrader   of 37746
 
11:35 ET Unilab (ULAB) 22.06 +6.06: IPO opens for trading at $21.50. The provider of laboratory testing services to physicians,
managed care groups, hospitals sold 6.7 mln shares in an offering led by Salomon Smith Barney and CSFB.

11:30 ET Nasdaq Composite : -- Technical -- Index hurt in the wake of the HWP headlines but thus far losses have been contained (also
failed at the Jan/May trendline near 2252). Intraday will watch first resistance at 2223 for indication of the staying power of this short term
slide. Failure to breach leaves the door open to further downticks with the next support of interest near 2195. As long as the 2180/2175
barrier is not taken out damage will be minimal.

11:17 ET Hewlett-Packard (HWP) 28.51 -1.54 (-5.1%): -- Update -- Says that while still early in the qtr, May was softer than expected,
and company is now "addressing what is clearly becoming a global slowdown."

11:14 ET Hewlett-Packard (HWP) 28.75 -1.30 (-4.3%): -- Update -- Market being dragged down by Hewlett intraday press release;
company cautions that it is now seeing the slowdown in IT spending spreading beyond the US and Europe; says May sales in both consumer
and enterprise markets in all regions were soft; company implementing additional expense reductions to increase the probability of achieving
the current consensus analyst EPS estimate of $0.23.

11:11 ET Hewlett-Packard (HWP) 28.80 -1.25 (-4.1%): HP is now more cautious regarding its revenue guidance of flat to down 5% for
the third fiscal quarter ending July 31, 2001.

11:11 ET FuelCell Energy (FCEL) 83.01 +2.96 (+3.6%): -- Technical -- The steady advance over the last week accelerated today with
the steep down sloping trendline off the mid/late May highs broken. The pattern of the decline and the improving technical indicators
(which are also evident in a number of other alternative energy stocks) bolster the probability that the correction is complete. In order for this
scenario to be maintained, however, it is important that the trendline and a chart support at 81/80 holds during pullbacks.

11:04 ET Exelixis (EXEL) 17.61 +2.58 (+17.2%): -- Update -- The Joe Kernen biotech/genomics play du jour. After gapping up to
$17.24 on gene research news (see 08:34 comment), stock has used positive mention by the CNBC anchor as catalyst to rally to new
session high... Volume 1.7 mln (8x normal); intraday range $16.25-$17.80.
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