<<I will be very concerned with this rally if NDX remains at these levels I would think that \spz most probably will visit that low 1250... although the number is good however we may see some check of supports it rarely happens that we move up on SPZ after a close like yesterday, the BKX is doing fine but failing momentum in leading stocks will encourage me to take some defensive posture.. I am watching NDX and SOX very carefully..>>
The time i posted this message we did test some higher levels on NDX 2400 was tested and we retreated, smae with SPZ, the gap was not lcosed but it nearly tried to fill the gap on NDX and COMP, I would assume that if 2403 is taken out we will break this strangle hold and try to cross this 2414 resistance - I see SOX at a very important support which I have been highlighting for quite some time, now i would like to see that this confluence of SOX retraction from highs and talks of awesome PC demand' as follows will bring some spice to the market..
<<- Microsoft Corp. profits jumped 30 percent last quarter, beating expectations, boosted by "awesome" demand for personal computers that is expected to continue, the software giant said Tuesday.
The world's biggest computer software company posted net income of $2.19 billion or 40 cents per diluted share for its fiscal first quarter ended Sept. 30, up from $1.68 billion or 31 cents a share a year earlier. Revenues rose 28 percent to $5.38 billion from $4.19 billion.
Excluding onetime gains from the sale of subsidiaries, Microsoft posted operating earnings of 38 cents a share compared with a First Call consensus estimate of 34 cents and a comparable year-earlier figure of 28 cents.
In a news release headlined with a reference to "Awesome PC Demand," Chief Financial Officer Greg Maffei credited strong corporate demand for the Office 2000 upgrade package, Windows NT Server system and BackOffice network applications.
"It does not appear that Y2K had a significant impact on results," he said, referring to concerns about a slowdown ahead of the year-end date changeover. "During the quarter, we also saw excellent PC unit growth, particularly in Asia, and we expect that trend to continue in the December quarter."
Reflecting a continuing recovery from the regional economic downturn, revenues from Asia rose 82 percent in the quarter to $593 million. Microsoft also reiterated that its Windows 2000 operating system, the successor to Windows NT, is on track to be released for manufacturing by the end of this calendar year.
Shares of Microsoft were trading at 88-3/4 after hours, up from a regular session close of 86-5/16. >>
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