Trend Setters and Range Riders Message Board

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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 479.24

-2.6%

10:39 AM EST

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To: Bob Biersack who wrote (15060)	4/5/2002 10:54:41 AM
From: Susan G	Read Replies (2) of 26752

from briefing...and they also say buy PAPER LOL! trying to hold up the cyclicals again. 10:37 ET Rumor mill: IBM hit by trading floor talk (98.83 -2.01) IBM showing relative weakness this morning; hearing trading floor rumors that there will be a call this afternoon to address accounting issues, but have heard more recently that the company is saying it has no call scheduled. 10:28 ET Nasdaq Composite Intraday -- Technical -- Solid start for the average but the best it could do was edge past yesterday's high by 2 points before pulling back (resistance is between 1804 and 1809). Has recently slipped below initial support amid a reversal in the semi sector with the next support at 1784/1782. Inability to rebound and stabilize above at least 1790 leaves the door open to a retest the lows of the last two days at 1770. Penetration exposes next support at 1762 with a stronger short term barrier near 1750. 10:28 ET Semi equipment stocks turn lower Semiconductor equipment sector retreats to its lows of the morning. Of the group, DuPont Photomasks (DPMI 47.80 -2.73) has experienced the most aggressive selling. Sector leader Applied Material (AMAT 53.85 -0.25) has just turned red; Novellus (NVLS 51.17 +0.10) is still in positive territory, but at its lows of the day

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