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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.66-0.1%Jan 16 4:00 PM EST

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To: Johnny Canuck who wrote (36244)2/26/2002 3:36:55 PM
From: Johnny Canuck  Read Replies (1) of 69861
 
13:38 ET Market Volume
Total volume traded is moderate on the session. The Nasdaq has turned 1.05 billion shares and is on pace to approach 1.70 billion for the session. NYSE volume 777 million total shares.




13:24 ET RBAK Redback Ntwrks lifts on conference comments (3.75 +0.64) -- Update --
As mentioned in 09:54 comment, stock was being talked up ahead of presentation today at the Robertson Stephens Tech Conference. Hearing that RBAK's comments have lived up to early billing, lifting the stock as much as 27% intraday.




13:22 ET Fed rate hikes not always bad for credit card stocks: Merrill Lynch
Merrill Lynch says that their study of credit card co's finds that although credit card valuations have tended to decline about 2-4 months in advance of a Fed rate increase, they typically recover and continue to expand 1-4 months thereafter if the mkt believes that future increases, if any, will be modest and limited; also, valuations have tended to fall apart when the mkt cannot discern an end to a period of Fed tightening. This pattern was the case with KRB during the 1994-1995 and 1999-2000 interest rate cycles and for a basket of credit card stocks during the 1999-2000 cycle.
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