Dorothy,
I-watch is the http:\\www.thomsoninvest.net site with the hard to read option graphs. Just count the super sell and super buy blocks in the lower part of the graph.
I agree about the rotation out of the opticals. Refer to the story below.
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Wed Mar 15 12:45am ET - U.S. Markets open in 8 hours 46 minutes.
Dow 9811.24 -135.89 (-1.37%)
Nasdaq 4706.63 -200.61 (-4.09%)
S&P 500 1359.15 -24.47 (-1.77%)
NYSE Volume 1,094,060,000
Nasdaq Volume 1,987,135,000
30-Yr Bond 6.106% -0.056
INTERNET 13 -3.2% Edit Delete Compare
CHIPS 13 -6.4% Edit Delete Compare
CHIP EQUIP 12 -6.5% Edit Delete Compare
Telecom Equip 21 -3.9% Edit Delete Compare
RETAIL 8 +0.7% Edit Delete Compare
SOFTWARE1 13 -1.3% Edit Delete Compare
DSL 6 -4.4% Edit Delete Compare
DWDM 15 -4.6% Edit Delete Compare
Financials1 6 -0.7% Edit Delete Compare
Carriers1 6 -5.0% Edit Delete Compare
Telecom Construction1 3 -3.7% Edit Delete Compare
networkers1 4 -6.3% Edit Delete Compare
Contract Manufacturers 5 -2.9% Edit Delete Compare
Tier 2, D-WDM 15 -5.5% Edit Delete Compare
Broadband Cable 1 8 -3.9% Edit Delete Compare
Harry's current watchlist 33 -3.5% Edit Delete Compare
DOW 10 -1.5% Edit Delete Compare
DRUGS 4 +0.4% Edit Delete Compare
XML 15 +0.1% Edit Delete Compare
Internet Security 20 -7.4% Edit Delete Compare
Supercoductors 5 -12.8% Edit Delete Compare
Bull Sector-optical 84 -4.7% Edit Delete Compare
Satellite Stocks1 3 +0.3% Edit Delete Compare
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ORCL with good earnings. 32 percent growth in database sales year over year. 35 percent growth in Applications year over year. Flat SG&A. 87 percent income growth. Increased revenues with 4 percent fewer head count.
Target of 1 billion in cost reductions in 12 months set last year, reached in 9 months.
There should be a nice spill over for IFMX tomorrow.
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biz.yahoo.com
Wednesday March 15, 12:10 am Eastern Time
Biotech shares tumble after Blair, Clinton comments
"Among the biggest losers were high-flying U.S. genomics companies, firms that study the structure and function of genes and typically sell that information to pharmaceutical companies and other subscribers.
Incyte Pharmaceuticals Inc (NasdaqNM:INCY ),a Palo Alto, California-based genomics firm, tumbled 53- to 143-1/2, or 27 percent. Millennium Pharmaceuticals Inc (NasdaqNM:MLNM) sank 59- to 176, or 25 percent. And Celera Genomics (NYSE:CRA )a unit of Maryland-based PE Corp, fell 40 to 149, or 21 percent.
But the selloff included a wide range of other types of biotechs, including Seattle-based drugmaker Immunex Corp (NasdaqNM:IMNX ), which dropped 31-7/16 to 153-5/16.
The drop came after U.S. President Bill Clinton and British Prime Minister Tony Blair called research into the human genetic blueprint ``one of the most significant scientific projects of all time' and proposed that to fully realise its potential the data should be freely available."
Immunex Corp (NasdaqNM:IMNX )
Incyte Pharmaceticals Inc (NasdaqNM:INCY)
Millennium Pharmaceuticals Inc (NasdaqNM:MLNM )
NAS/NMS BIOTECH (NASDAQ Stock Exchange) (^IXB )
PE Corp (NYSE:CRA )
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cbs.marketwatch.com
Money managers see telecom pullback
But when? Meanwhile, Sprint takes 'flat' approach
By Jeffry Bartash <mailto:jbartash@marketwatch.com>, CBS MarketWatch Last Update: 4:41 PM ET Mar 14, 2000
The brokerage's special survey, conducted with Gallup, showed that 75 percent of 251 money managers interviewed plan to trim holdings of telecommunications, Internet and media stocks amid concerns that they've become grossly overvalued. It's precisely those stocks whose advances have carried the stock market, primarily the Nasdaq, to new highs.
For investors, it's hard to figure out what to do even if this report is accurate. While money managers may withdraw cash from the highfliers, it's unlikely to be across the board. Expect the pullbacks to occur company by company, though bad news at some sector leaders could hurt the whole group.
Based on past market history, it seems that any telecom, Internet or media stock that issues an earnings warning or reports other bad news is likely to get crunched.
Wall Street happenings. Telecommunications stocks that hit new peaks on Tuesday include Metromedia Fiber Communications (MFNX ), Copper Mountain Networks (CMTN),Redback Networks [s rbak], Teligent (TGNT) and Winstar Communications (WCII).
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