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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (179285)7/11/2002 8:19:28 PM
From: Les H  Read Replies (1) of 436258
 
Is being oversold enough? - Jul 11 3:37pm

One market technician said the market's oversold readings are no guarantee of enduring gains. "We continue to be oversold enough for a bounce here. But considering the fact that our technical indicator 'stars' are far from being aligned, our confidence of any rally being sustainable is not high. Oversold is simply a sign of weakness and not the sole basis for sustainable rallies," pointed out John Roque, senior vice president at Arnhold & S. Bleichroeder. "Much like a pitcher that pitches a gem of a game, gives up only one run to the opponent but loses 1-0, we need other technical teammates to step up here and contribute before we would become more constructive on the major indexes," Roque concluded.

Senate buries stock-option expensing reform - Jul 11 4:03pm

The Senate killed without a vote a proposal by Sen. John McCain, R-Ariz., that would require companies to account for the costs of stock options grants in their quarterly and annual reports. McCain promised that he would not rest until the Senate votes on the issue. McCain said current accounting of stock options has misallocated capital toward high-tech firms and amounts to just another accounting lie. Killing McCain's amendment to the accounting reform bill was a top priority of the U.S. Chamber of Commerce and high-tech lobbyists.
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