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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	4/10/2001 2:14:47 PM
From: besttrader	of 37746

14:05 ET Dow +278, Nasdaq +107, S&P +32.11: [BRIEFING.COM] Indices continue to trade sideways over the past hour or so, but still manage to hold onto bulk of gains...Storage stocks continue strength on little news including QLogic (QLGC +28%), StorageNetworks (STOR +36%), Brocade (BRCD +18%). Shares rebounding from weakness over past few sessions...Influential Merrill Lynch analyst Joe Osha squawked on microprocessors and DRAM this afternoon: said that while Taiwan data revealed a marked pick-up in shipments during March, much of the pick-up reflected inventory restocking rather than increased end-user demand, and renewed weakness will probably be seen in April; reiterates NT NEUTRAL ratings on MU and AMD. Despite comments, SOX Index remains near session high. Internet stocks are also among the day's leaders but are fading including Amazon (AMZN 12.39 +1.21)...Small caps have underperformed large and mid-cap stocks today as traders hunt for former trading favorites that have been beaten down. SOX +9.5%... Nasdaq 100 +8.3%... Russell 2000 +2.3%... NYSE Adv/Dec 2126/879... Nasdaq Adv/Dec 2694/1049.

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