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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 478.53

-1.0%

Dec 12 9:30 AM EST

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To: Bob Biersack who wrote (15958)	4/18/2002 7:31:37 AM
From: Susan G	Read Replies (1) of 26752

Gotta love the Briefing.com spin on things... Nokia "exceeds expectations" (then tanks world markets...) When the Nokia news hit, around 5 am, the nasdaq futures had just broken the 1421 resistance level on NOK "anticipation". European markets immediately tanked, with Finland losing over 5% in moments as they warned HUGE for the rest of the year. NOK is down about 2 pts pre-market. Our dow futs gave up the 34 pts they had gained on IBM overnight and the NQs have given up over TWENTY FOUR points since the news hit. Yet briefing spins it as good news LOL! 07:22 ET NOK Nokia EPS results exceed expectations (20.63) Reports Q1 earnings of US$0.17 per share, $0.02 better than the Multex consensus of $0.15. Revenues fell 12.4% to $6.23 bln vs the $6.35 bln consensus. For Q2, co sees EPS of $0.16-$0.18 (consensus $0.17). Remains comfortable with current consensus estimates for the full yr. OOOPS NQs just broke yesterday's lows, after breaking critcal pivot support this am... If yesterday's gap support of 1387.50 breaks, look out below. That is a CRITICAL level to watch today. Any bounce off it could cause a swift reversal, a break of it is going to get really ugly as the bottom of the gap is waaaay down at NQ 1364. SP futures are holding up really well so far, 1126, 1124 and 1120 are supports to watch, 1120 being the most important.

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