thestreet.com
Intel (INTC:Nasdaq - news) said this afternoon demand is strong across the board and the Nasdaq gloom has vanished! Just like that.
Amazing, isn't it, that Dell (DELL:Nasdaq - news), Compaq (CPQ:NYSE - news) and Gateway (GTW:NYSE - news) could be bad and Intel good? Maybe that is the missing piece of the puzzle that has thrown off tech land. Maybe these three companies are no longer a good judge of the tech market.
I know the purists will hate this next comment, but Intel is becoming less dependent on the traditional PC players. When it says demand is surging across the board, across the board no longer just means the big three boxmakers.
When the day is closed, this will be the rally Intel wrote. On top of the banks, drugs and cyclicals, it turns out to be a pretty bad day for the bears. And a nice one for the bulls after a rough couple of sessions last week.
Random musings: Feel the bears' pain. Hit up Rambus (RMBS:Nasdaq - news).
2/15/00 6:06 PM ET
thestreet.com
The Nasdaq Comp rose 2.22 to 4420.77, but a mile off its intraday bottom of 4291.10, which represented a drop of
127.45 from yesterday's close. The Nasdaq 100 gained 10.90, or 0.3%, to 3997.03, after trading down to the 3848.37 level intraday. The biggest gainer on the Nasdaq in terms of value was Rambus (RMBS:Nasdaq - news), which soared on what was described as a huge short squeeze. Rambus hopped 40 19/64, or 36.2%, to 151 47/64 |
