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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.21

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Jan 2 4:00 PM EST

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To: Johnny Canuck who wrote (40200)	9/5/2003 8:29:53 AM
From: Johnny Canuck	Read Replies (1) of 69382

8:13AM Circuit City's Q2 sales declines (CC) by Tomi Kilgore NEW YORK (CBS.MW) -- Circuit City Stores (CC) said total sales for its fiscal second quarter fell 3 percent from year-earlier levels to $2.16 billion, vs. the average analyst forecast compiled by Reuters Research of $2.11 billion. Comparable-store sales for the quarter ending August fell 5 percent. The consumer electronics retailer said its sales performance improved during the second half of the quarter, with August same-store sales increasing 1 percent, due to strength sales of back-to-school products such as PC hardware and software, games, wireless communications and portable audio and video products. The stock was unchanged at $10.23 in light pre-open trading. <b?[Harry: Uptick in PC sales being supported by numbers from the retail level.] 8:11AM Nortel up in pre-open; S&P revises outlook to stable (NT, LU) by Julie Rannazzisi NEW YORK (CBS.MW) -- Nortel Networks (NT) rose to $3.90 in Instinet pre-open trades from a close of $3.80 after Standard & Poor's revised its outlook on the telecom equipment company to a "stable" from "negative" late Thursday. S&P also affirmed its credit rating on the Canadian firm. S&P said challenging end-markets and ongoing weakness in macroeconomic conditions for Nortel are partially offset by its strong position in its market segments and improving operating performance. S&P also affirmed its credit ratings on Lucent Technologies [s:lu] late Thursday. Lucent shares did not yet change hands in the pre-open and closed up 1.4 percent on Thursday.

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