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Technology Stocks : Netscreen (NSCN)

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To: Caxton Rhodes who wrote (20)	1/22/2003 8:32:56 PM
From: Caxton Rhodes	of 38

From Briefing.com Technology General Commentary Nasdaq failed to hold early gains and closed in negative territory for the fifth straight session. More notable is fact that tech heavy index just posted its third straight close below its 50-day moving average. In recent months more than two consecutive closes below this key moving average has been a relatively reliable warning of additional near-term price weakness. Next major support is the late December low of 1327. This floor needs to hold, or selling could get ugly. On a more bullish note, much of the earnings news after the close was positive. Stocks such as Qualcomm (QCOM), Silicon Labs (SLAB), Texas Instruments (TXN) and Netscreen (NSCN) not only beat consensus estimates but guided future sales/earnings above consensus estimates.

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