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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	6/7/2001 10:37:12 AM
From: besttrader	of 37746

10:30 ET Dow -15, Nasdaq +20, S&P +0.42: [BRIEFING.COM] Mixed market persists with today's buyers favoring technology issues, and specifically, the semiconductor stocks... Latter have been performing remarkably well of late in the face of several warnings as investors continue to express the opinion that a bottom is near and that a pickup in demand is in the offing... Several factors are supporting that view today... First, the Semiconductor Industry Association increased its 2002 sales forecast to 20.5% from 10%; secondly, Broadcom (BRCM +2.43) indicated on its conference call (held to discuss Q2 warning) that it is seeing some signs of new orders that it believed would lead to renewed growth late in the year; and third, Banc of America Securities said its motherboard checks at Computex in Taiwan suggest an incrementally positive outlook for Sept. qtr, and noted that its conversations with four large Taiwanese vendors indicated a pickup in OEM activity... Oh yeah, it hasn't hurt the SOX Index at all that Intel (INTC +0.86) is trading higher ahead of its mid-quarter update... SOX +4.0%... Nasdaq 100 +1.5%... NYSE Adv/Dec 1182/1368... Nasdaq Adv/Dec 1484/1465.

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