VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Voltaire who wrote (32447)	3/6/2001 9:03:31 AM
From: Dalin	Read Replies (2) of 65232

Some more Brief.com: 08:40 ET: [BRIEFING.COM] The market is set for a positive open this morning. S&P futures at 1254 are trading 11 points above fair value while the Nasdaq 100 futures, at 1965, are 46 points above fair value. Just like yesterday's pre-market activity, the bullish bias prevails despite earnings warnings from semiconductor names. Xilinx (XLNX 43 1/4) and TriQuint (TQNT 19) warned after the close yesterday while chip equipment maker Varian (VSEA 31 1/2) also warned. Despite the recent rash of warnings, the SOX Index has rallied 19% off its low set last Thursday. Trading higher on negative news is an encouraging sign that the chips are near a bottom. Another test of a bottom will be played out on LSI Logic (LSI 16.82) which got downgraded this morning by Dan Niles of Lehman Brothers....Outside of the chips, it will be interesting to watch how Cisco (CSCO 23 5/64) reacts today to a downgrade from Banc of America to Buy from Strong Buy. We expect it to have little impact as much of the bad news has been priced into the shares already....The snow storm in the Northeast should keep a lid on volume today making it more difficult to read too much into today's action. :0) Ramblin

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