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Technology Stocks : Semi Equipment Analysis
SOXX 343.07-0.5%Jan 26 4:00 PM EST

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To: Sarmad Y. Hermiz who wrote (29223)3/9/2006 5:28:59 PM
From: Donald Wennerstrom  Read Replies (2) of 95765
 
Traders Turned Defensive as Morning Rally Faded [delayed]

Thursday Mar 09 2006 17:09:04 EST

Ridgeland, MS, MAR 09, 2006 (EventX/Knobias.com via COMTEX) --

<<An early rally turned to broad-based selling at midday with all three major averagees (Dow -33, S&P -6.2, Nasdaq -17.7) and key sector indexes (SOX -1.4%, RLX -0.8%, XBD -0.9%) finishing in the red. Only consumer staples and telecom sectors managed gains on a day where technology and energy sectors led to the downside with (1%) declines. Investors snapped up the relatively safe brewers (BUD +1.8%) and nondurables (CL +1.3%). Autos (GM +4.5%, F, DCX) also faired well on talk of progress in Delphi's labor talks. The weakness in the oil patch came despite gains in the oil and gasoline futures market. Refiners were only mixed, despite a 7c/gal jump in April gasoline futures. In the tech sector GOOG (-3%) and YHOO weighed on the internet industry while semi industry stalwarts QCOM and NSM fell despite the absence of bad news. AMD & INTC declined after JPM reported a price war risk.>>
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