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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 674.96+0.9%4:00 PM EST
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To: Johnny Canuck who wrote (32159)5/4/2001 11:07:53 AM
From: Johnny Canuck  Read Replies (1) of 68284
 
11:00 ET Cisco Systems (CSCO) 19.42 +0.76: -- Update -- Hearing trading floor rumors of a Cisco stock buyback announcement, which has helped lift the stock out of the red this morning; recall that CEO Chambers said back on March 12 that Cisco would consider share repurchases (the company denied that the next day, but then retracted the denial).





10:42 ET White House Comments : A very strange turn of events, as the White House reportedly says that Q1 GDP growth of 2.0% will most likely be revised lower. It is not at all normal for the Administration to comment on likely revisions to economic indicators, and it is not clear why they would do so now. But in any case, they are probably right, and Briefing.com continues to believe that Q1 growth of 2.0% was not a good indication of the current state of the economy.




10:41 ET StorageNetworks (STOR) 15.15 +1.28 (+9.2%): Active trade as stock clears the top of a 2-month trading range. Volume of 2 mln shares has already exceeded average daily turnover of 1.8 mln.




10:34 ET Sonus Networks (SONS) 31.33 +0.53 (+1.7%): -- Technical -- Runs back to positive territory after retesting support near 29 which has held firm over the last two sessions. Intraday will watch 30.75/30.50 for an indication of the health of this move; remains intact there is potential for further recovery gains. Initial resistances are 32 and 32.50.
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