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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	7/20/2001 10:42:10 AM
From: besttrader	Read Replies (1) of 37746

10:30 ET One of the bigger things holding the Nasdaq back this morning (aside from that massive sell pressure on MSFT) is weakness in semiconductors. The SOX, which had shown notable relative strength yesterday, is lower by 2.9% at this point in the session. A less than encouraging forward outlook from PMC Sierra (PMCS -8.9%) last night is contributing to sell pressure on the group. On a more general point, trend reversals frequently occur roughly after the first hour of trading. Both the Dow and the Nasdaq have broken out of their prior intraday ranges to the upside which will be something worth keeping an eye on. DJTA -0.3%... DJUA -0.5%... SOX -2.9%... XOI +1.5%... BTK +1.5%... Nasdaq 100 -1.4%... S&P Midcap 400 +0.2%... Russell 2000 -0.2%... NYSE Adv/Dec 1253/1244... Nasdaq Adv/Dec 1235/1564.

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