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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 491.13

+1.2%

12:47 PM EST

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To: TWICK who wrote (21089)	7/23/2002 11:48:27 AM
From: Connor26	Read Replies (1) of 26752

11:40 ET Floor talk that HPQ is ending printer relationship with DELL : News is providing a boost to printer maker Lexmark (LXK 47.86 +2.79). 11:32 ET Genesis Microchip tests resistance (GNSS) 8.24 +0.55: -- Technical -- Stock runs sharply higher in early trade amid modest volume but thus far has been stymied by resistance at its 20 day ema at 8.39 which contained the rally last week. A sustained break of the average and the July high (8.68) bolsters the short term positive case with initial resistance at 8.84 followed by 9.20 and 9.50 (bottom of June 14 gap). First level support is at 8.10/8 with follow through beyond 7.85 damaging the near term favorable scenario. 11:27 ET Cable stocks : Cable stocks are taking it on the chin this morning (CHTR -19.3%, CVC -11.4%, ICCI -9.4%, MCCC -6.9%, COX -4.7%, CMCSK -2.9%), due we're told to a number of factors: 1) before the open, First Albany cut their price targets for COX (to $38 from $48), CHRT ($8 from $18), and MCCC ($14 from $22) based on more conservative assumptions for long-term penetration rates for advanced services; 2) both TXN and ALTR gave the impression that set-top boxes were weak; and 3) Salomon Smith Barney said that the weakness could be attributed to EBITDA concerns as well as the fact that the group had held up relatively well and may be finally selling off along with the broader mkt. Finally, CHTR is having their analyst day today amidst concerns that subscriber growth may decline.

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