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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Clint E. who wrote (22546)	8/4/1999 5:35:00 PM
From: Clint E.	Read Replies (1) \| Respond to of 69021

=-= Wednesday August 4, 1999,,, vol 965M,,,,,Same Interest Rates Fear Ahead of Friday's Unemployment Data =-= NEW: Very tangible weakness in the capital-intensive telecom services stocks due to higher interest rates fear. Further weakness in the internet stocks. Acampora calling for 2300 in the NAZ. Ya, right!!! Indices [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- VIX 28.420 1.740u 26.680 26.670 28.420 25.580 375 320 1 3:59 60.630 16.730 DJII 10675.000 -2.000d 10677.000 10677.000 10830.000 10670.000 N/A 9940 N/A 4:30 N/A N/A QQQ 110.109 -2.031d 112.141 112.141 112.984 110.016 6.6M 2200 58 4:16 123.438 97.000 SOX 486.050 -5.880d 491.930 491.930 498.380 485.880 1788 1561 1 4:32 533.460 182.590 BKX 813.100 -13.000d 826.100 827.200 836.400 812.400 1683 1467 1 4:32 944.300 545.700 SPZ 1305.300 -16.900d 1322.200 1322.200 1330.100 1304.500 1796 1593 1 4:58 1420.100 923.300 NDX 2204.300 -34.900d 2239.200 2239.200 2258.800 2202.500 1853 1663 1 5:13 2468.400 1063.300 COMP 2540.000 -47.900d 2587.900 2590.200 2603.600 2538.800 455 395 1 4:58 2874.900 1357.100 DOW [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- HWP 110.250 1.750u 108.500 108.938 111.438 107.500 44885 2762 8 4:07 118.438 47.063 WMT 40.938 -1.000d 41.938 41.313 41.438 40.813 62012 4457 N/A 4:01 53.406 26.219 GE 106.625 -1.250d 107.875 107.625 109.938 106.625 36060 3357 4 4:10 120.000 69.000 MRK 64.375 -2.625d 67.000 66.938 67.063 63.500 8M 5474 302 4:42 87.375 57.500 JPM 124.125 -3.188d 127.313 127.250 128.750 124.063 9447 885 61 4:01 147.813 72.125 AXP 123.500 -3.188d 126.688 127.250 129.875 122.750 24996 2068 1 4:33 144.000 67.000 Tech_Titans [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- MSFT 84.938 0.188d 84.750 85.125 87.188 84.750 38M 26046 6 4:01 100.750 43.875 INTC 72.813 -0.125d 72.938 72.938 74.313 72.625 27M 24675 1 4:01 73.563 34.875 DELL 39.125 -0.250d 39.375 39.313 40.125 38.938 24M 13362 1 4:01 55.000 20.375 EMC 60.250 -0.563d 60.813 61.000 61.750 60.250 29329 3084 12 4:03 67.469 20.844 CSCO 60.500 -0.625d 61.125 61.438 62.688 60.313 20M 22051 8 4:01 69.250 20.563 IBM 118.500 -0.875d 119.375 120.000 121.875 118.063 57473 4072 1 4:22 139.188 55.375 WCOM 80.813 -2.000d 82.813 83.125 83.875 80.625 10M 9005 2 4:01 96.766 39.000 LU 62.938 -2.250d 65.188 65.313 65.875 62.563 9M 7227 7 4:30 79.750 26.719 ETitans [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- AOL 87.750 -1.063d 88.813 88.563 92.000 86.500 24M 22138 N/A 4:38 175.500 17.250 ATHM 41.000 -2.375d 43.375 43.375 44.250 40.250 65347 11554 41 4:00 99.000 11.750 YHOO 121.000 -4.313d 125.313 125.000 127.750 119.750 11.5M 23787 10 4:01 244.000 29.500 RNWK 60.875 -5.375d 66.250 66.250 67.500 59.875 27849 6255 17 4:00 131.875 7.625 CNET 30.313 -5.688d 36.000 36.688 36.875 30.250 37242 5415 5 4:00 79.750 7.250 CMGI 76.000 -5.875d 81.875 82.000 83.438 75.125 6M 19540 1 4:00 165.000 8.609 AMZN 88.438 -6.438d 94.875 93.750 96.375 88.000 11M 23751 4 4:01 221.250 21.656 DCLK 67.688 -6.813d 74.500 73.500 75.875 66.500 27177 6445 26 4:00 176.000 6.750 PCLN 66.250 -6.813d 73.063 72.500 74.125 66.000 22051 4280 21 4:00 165.000 58.000 INKT 92.188 -7.188d 99.375 99.563 103.000 91.000 26189 5563 3 4:00 159.125 19.500 EBAY 75.750 -8.625d 84.375 83.500 86.000 75.625 8M 16902 33 4:00 234.000 8.406 Networkers [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- COMS 23.625 -0.375d 24.000 24.000 24.250 23.500 44661 3364 1 4:01 51.125 20.000 SUNW 70.500 -0.875d 71.375 71.688 71.875 69.938 65412 7654 1 4:01 76.438 19.188 WirelessMfr_Carrier [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- QCOM 142.438 2.438u 140.000 141.875 145.250 141.375 7M 12106 10 4:01 167.250 18.875 PCS 61.250 0.125d 61.125 61.438 62.000 61.000 17268 725 100 4:03 66.875 12.750 MOT 90.750 0.000d 90.750 91.750 92.063 89.313 40181 1553 215 4:02 100.188 38.375 NXTL 48.875 -3.313d 52.188 52.500 52.625 48.000 43310 4423 1 4:01 58.313 15.375 NOK 78.750 -4.875d 83.625 82.438 83.188 78.188 57410 2901 14 4:14 99.375 29.531 Tcom&Cable_Gear [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- JNPR 155.875 0.813u 155.063 153.750 156.000 148.000 7469 1877 23 4:00 172.500 90.125 TLAB 58.938 -1.125d 60.063 60.125 60.750 58.625 33742 3753 8 4:01 74.000 15.688 ADCT 40.875 -1.688d 42.563 42.563 42.938 40.563 12576 1409 1 4:01 53.625 15.750 HLIT 78.156 -2.094d 80.250 80.875 81.000 76.625 1902 304 17 4:00 84.875 7.625 AWRE 42.688 -2.188d 44.875 44.250 45.000 42.500 1769 287 4 3:59 87.125 4.250 ANTC 36.813 -2.250d 39.063 38.625 38.625 36.375 4247 412 3 4:00 42.438 11.500 TERN 32.750 -2.438d 35.188 35.375 36.500 32.563 4801 713 5 4:01 60.500 7.000 ETEK 36.875 -2.750d 39.625 40.000 40.250 36.875 3176 362 4 4:00 51.188 19.43 OCLI 61.000 -3.000d 64.000 63.000 64.813 61.000 910 153 1 3:58 88.375 14.375 PDYN 37.375 -3.625d 41.000 41.031 41.250 36.625 7804 725 1 3:59 58.000 37.250 RBAK 166.000 -3.938d 169.938 170.375 174.000 164.000 8347 2047 2 4:00 199.250 65.000 EFNT 36.969 -4.031d 41.000 40.625 40.656 35.500 4336 643 75 4:00 68.000 37.375 CMVT 68.563 -4.500d 73.063 73.063 73.125 66.125 12903 1502 25 4:00 82.375 19.578 JDSU 85.375 -5.063d 90.438 91.438 91.750 85.125 24494 3717 1 4:01 96.250 77.250 NT 81.625 -5.125d 86.750 86.500 86.688 81.500 23038 1424 240 4:01 94.125 26.813 WCII 48.688 -7.188d 55.875 55.750 56.250 46.500 18423 2162 4 4:01 64.438 10.250 CMTN 90.500 -12.000d 102.500 103.375 108.875 89.500 8755 2541 1 4:00 130.125 50.500 Tcom&Cable_SrvcPrvdr [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- LVLT 52.938 1.250u 51.688 52.000 55.000 51.000 18330 2242 25 4:00 100.125 22.375 GTSG 34.000 0.156d 33.844 34.375 34.438 32.000 30670 1047 6 4:00 45.844 10.563 ADLAC 58.688 -0.438d 59.125 59.125 59.625 58.500 11154 371 100 3:59 87.000 29.125 QWST 26.625 -1.688d 28.313 28.313 28.500 26.375 9M 11919 12 4:00 52.375 11.000 MCLD 24.750 -1.938d 26.688 27.063 27.125 24.250 11054 798 2 4:00 33.688 7.625 GBLX 36.000 -2.125d 38.125 37.563 38.063 32.938 37446 3117 1 4:00 64.250 8.000 MFNX 24.875 -3.250d 28.125 27.750 27.813 24.625 26529 3085 10 4:00 47.563 4.219 COVD 37.250 -5.000d 42.250 43.000 43.000 37.000 9546 1659 10 4:00 81.000 20.656 NXLK 82.000 -5.875d 87.875 90.875 93.000 80.000 20275 3338 5 4:01 115.375 10.563 RCNC 34.188 -5.984d 40.172 40.000 40.438 33.000 13785 1976 2 4:00 54.500 8.750 ISPs [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- ELNK 40.375 -1.063d 41.438 40.906 42.625 40.063 9428 2000 8 4:00 99.375 19.500 CNCX 19.688 -1.188d 20.875 21.000 21.125 18.813 23750 942 4 4:00 57.625 7.125 MSPG 26.750 -2.813d 29.563 29.750 30.000 26.500 35240 6076 21 4:00 66.500 11.563 PSIX 43.500 -4.000d 47.500 47.500 48.125 41.813 17082 1880 1 4:00 73.750 8.375 WebHosting [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- EXDS 107.625 -1.625d 109.250 109.375 111.563 105.000 27318 5907 3 4:00 148.188 7.750 ABOV 26.000 -3.750d 29.750 29.125 29.375 25.563 8585 1302 1 4:00 75.500 5.750 VRIO 64.000 -5.875d 69.875 69.938 70.563 62.625 5995 893 1 4:00 85.000 13.000 EPortals [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- GNET 50.750 1.625u 49.125 49.625 51.625 47.375 14438 3468 1 4:00 99.500 3.203 INSP 41.188 -0.438d 41.625 41.438 42.125 40.125 7762 1040 1 4:00 72.625 9.750 LCOS 32.938 -3.563d 36.500 36.688 37.625 32.438 36034 5775 13 4:00 72.688 10.031 EBanking [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- NTBK 19.125 -0.188d 19.313 19.188 19.375 18.375 7803 1359 1 4:00 83.000 3.578 TBFC 22.250 -1.063d 23.313 23.875 24.625 21.625 7114 847 4 4:00 75.875 3.938 SONE 29.750 -1.625d 31.375 32.500 33.000 29.250 14008 901 1 4:00 79.250 4.625 EBrokers [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- NITE 37.750 0.750u 37.000 36.875 38.375 36.000 49813 7483 2 4:00 81.625 2.250 SCH 37.000 -0.750- 37.750 37.000 38.375 36.500 7M 3026 8 4:14 77.500 9.250 EGRP 23.750 -0.938d 24.688 24.563 25.875 23.625 11M 15174 5 4:00 72.250 2.500 AMTD 20.125 -1.125d 21.250 21.063 22.000 20.063 50884 7745 10 4:00 62.781 1.875 NDB 30.875 -1.250d 32.125 32.000 32.688 30.188 7985 1290 6 4:01 93.000 8.125 ESoftware [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- BVSN 70.375 -0.375d 70.750 70.500 70.750 67.000 6578 795 1 4:00 80.000 9.250 NSOL 55.563 -1.438d 57.000 57.000 58.000 55.188 6335 1189 2 4:00 153.750 10.500 INTU 73.688 -4.188d 77.875 78.000 79.000 73.625 8917 1118 1 4:01 110.750 26.250 VRSN 58.938 -6.313d 65.250 64.750 65.250 57.000 14670 2282 1 4:00 96.750 9.688 VERT 68.875 -6.500d 75.375 76.000 76.000 68.000 6036 949 1 4:00 149.000 34.750 EMisc [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- GMST 58.688 -1.625d 60.313 60.250 60.813 57.375 7729 656 2 4:00 77.500 15.500 PHCM 45.375 -3.250d 48.625 52.313 52.375 43.688 4129 979 2 4:00 89.750 32.250 STRM 29.844 -5.406d 35.250 35.625 36.125 29.188 6949 1080 74 4:00 70.000 24.000 PCs [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- BBY 70.938 -0.250d 71.188 71.313 71.938 69.500 13559 1002 40 4:00 80.500 15.969 GTW 75.125 -1.375d 76.500 77.000 77.375 74.625 11272 840 80 4:02 84.500 36.125 AAPL 53.813 -1.438d 55.250 55.188 55.875 53.250 33130 3208 1 4:01 58.000 28.500 SemiCapX_EDA [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- SNPS 57.563 -0.750d 58.313 58.125 58.875 57.063 5275 543 1 4:01 63.250 24.500 AMAT 72.875 -0.875d 73.750 74.000 74.750 72.625 57063 6459 5 4:01 79.938 21.563 LRCX 54.188 -1.688d 55.875 55.500 55.563 53.625 6176 908 1 4:01 57.813 8.375 TER 71.875 -2.000d 73.875 73.750 74.500 71.875 6907 492 1 4:35 80.563 15.000 KLAC 67.750 -2.688d 70.438 71.250 71.500 67.500 17298 1953 2 4:01 73.063 20.750 NVLS 61.563 -4.438d 66.000 66.000 66.438 61.250 12377 1491 1 4:01 75.875 20.875 Semis [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- ALTR 38.563 2.688u 35.875 36.469 39.125 36.438 8M 5641 2 4:01 46.875 14.531 LSCC 61.250 2.250u 59.000 60.500 63.000 60.250 4511 641 1 4:00 64.500 18.875 TQNT 41.188 1.063d 40.125 41.250 41.500 39.750 3498 653 2 4:00 51.875 7.328 MCHP 49.375 0.000d 49.375 49.563 50.750 49.375 2597 363 2 4:00 54.938 17.000 XLNX 61.438 -0.375d 61.813 61.813 63.125 61.375 17031 2318 2 4:01 65.125 14.875 TXCC 43.250 -0.625d 43.875 43.500 44.500 42.500 1344 210 1 4:00 52.250 7.328 TXN 140.250 -1.000d 141.250 141.500 143.438 140.250 18811 1739 5 4:10 155.375 45.375 MMCN 39.063 -1.063d 40.125 40.375 41.375 38.938 3157 318 1 4:00 51.500 7.750 VTSS 66.000 -1.125d 67.125 67.063 67.875 65.125 17906 1586 1 4:01 73.875 17.125 LLTC 57.563 -2.063d 59.625 59.563 60.375 57.375 10886 1505 1 4:01 75.750 19.563 RMBS 81.563 -2.188d 83.750 83.875 87.500 81.188 9800 1769 1 4:00 117.500 45.000 BRCM 109.500 -2.375d 111.875 110.688 113.500 106.000 26295 5157 1 4:01 149.500 23.500 GALT 50.250 -2.875d 53.125 53.375 53.375 48.125 8641 648 4 3:59 64.750 6.625 CREE 23.563 -3.813d 27.375 26.500 27.625 23.500 7713 1019 3 3:59 41.000 5.250 PMCS 77.000 -3.938d 80.938 80.750 81.625 76.500 6773 1341 7 4:00 86.625 11.438 AMCC 90.000 -5.375d 95.375 96.000 96.875 90.000 9267 963 50 4:01 99.500 12.250 RFMD 69.000 -5.625d 74.625 74.938 76.125 67.625 11237 1938 1 4:00 86.625 6.125 QLGC 68.875 -7.750d 76.625 75.875 76.375 68.625 12580 2001 2 4:00 85.500 11.750 Software [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- LGTO 69.500 1.250u 68.250 67.750 71.125 67.500 7034 958 20 4:21 82.813 27.500 CPWR 28.125 -0.375d 28.500 28.563 29.125 27.875 26088 2089 1 4:01 39.906 16.375 ORCL 36.750 -0.375d 37.125 36.875 37.563 36.500 16M 6585 3 4:01 41.156 12.125 EFII 53.375 -0.438d 53.813 53.875 55.188 53.188 6801 653 1 4:01 60.375 13.500 MERQ 41.875 -0.594d 42.469 42.500 42.750 40.750 2306 274 15 4:00 49.125 10.563 RATL 29.625 -0.875d 30.500 30.875 31.500 29.313 5288 518 13 4:00 40.000 10.500 CA 45.313 -1.125d 46.438 46.188 47.250 45.313 12249 599 196 4:01 58.000 26.000 VRTS 53.375 -1.250d 54.625 54.563 54.750 52.063 9363 1306 1 4:01 63.438 11.875 CTXS 48.438 -1.875d 50.313 49.938 50.500 48.250 10051 1086 10 4:00 65.250 23.125 BMCS 50.625 -2.000d 52.625 53.000 53.250 50.500 32317 2895 1 4:01 64.875 30.000 SEBL 53.000 -2.000d 55.000 55.063 55.375 51.625 23402 1973 2 4:00 67.375 15.125 ADBE 83.375 -3.438d 86.813 86.875 87.563 83.000 5394 971 27 4:00 93.625 23.625 CHKP 64.875 -7.125d 72.000 72.563 73.313 64.250 11741 1773 5 3:59 72.500 10.875 ECM [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- SANM 69.375 2.563u 66.813 67.250 70.500 65.750 31852 2151 7 4:01 83.500 19.625 SLR 64.313 -0.063d 64.375 64.375 65.625 64.250 9134 763 428 4:01 73.250 19.406 FLEX 45.000 -0.500d 45.500 46.000 46.063 44.375 4165 389 98 4:00 60.250 10.984 JBL 36.625 -1.250d 37.875 38.125 38.500 36.500 7840 426 1 4:35 55.375 11.500 Misc [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- EXTR 47.563 -2.563d 50.125 50.000 51.000 47.250 3498 310 1 3:59 71.125 35.063 NTAP 52.938 -3.313d 56.250 56.688 56.938 52.125 6543 783 11 4:00 67.000 16.000 ADIC 36.000 -3.938d 39.938 39.000 39.813 34.500 976 229 1 3:59 49.875 6.125 Banks_Brokers [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- C 43.938 -0.188d 44.125 44.250 45.125 43.688 7M 3339 5 4:19 51.750 19.000 MWD 86.688 -0.750d 87.438 87.188 89.000 86.375 22415 1204 127 4:00 116.938 36.500 GS 60.000 -0.813d 60.813 60.563 61.500 60.000 12676 637 8 4:01 77.250 60.500 MER 65.813 -1.125d 66.938 67.500 68.125 65.750 29141 2337 265 4:01 102.500 35.750 Bios_Drugs [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- IMNX 116.188 1.688u 114.500 113.750 119.875 112.813 9119 1487 4 4:01 145.875 23.938 AMGN 77.063 0.438u 76.625 77.000 78.688 76.625 48550 4823 1 4:01 81.375 28.969 PFE 33.313 -0.688d 34.000 33.938 34.063 33.125 9M 5895 2 4:13 50.031 28.656 BGEN 70.438 -1.500d 71.938 72.125 73.141 70.250 20460 1875 1 4:01 76.625 20.875 Laser [EDIT This List] Symbol Last Change Close Open Day Hi Day Lo Vol Trades Shrs Time 52wk Hi 52wk Lo ------- --------- --------- --------- --------- --------- --------- ------ ------ ----- ----- --------- --------- BEAM 18.719 -1.781d 20.500 19.500 20.188 18.125 32531 4047 15 4:00 29.375 3.000 VISX 87.250 -5.375d 92.625 88.938 92.500 84.313 34197 6514 7 4:00 103.875 10.484

To: Clint E. who wrote (22546)	8/4/1999 11:30:00 PM
From: Clint E.	Read Replies (1) \| Respond to of 69021

What Acampora said today, mostly talking about May/June lows; prusec.com U.S. Stock Market Outlook Near-Term Tuesday was another very volatile and deceptive day—despite the fact that the DJIA ended up slightly, both the NASDAQ Composite and the Russell 2000 broke their respective ten month uptrends. This is a clear trend change and puts us all on watch that key support levels in individual stocks must be respected and they must hold in order to prevent further serious deterioration. In this regard, many internet stocks broke below their May/June lows (critical support areas)—this behavior is ushering in considerable investor nervousness and further downside potentials. Be very careful—avoid this sector until evidence is in place suggesting that an important low has been made. So far only major downtrends are seen in these stocks. We are purposely leaving in the text of our Monday morning's near-term stock market outlook (directly below) because we want to make sure that our readers understand that most key market averages are definitely exhibiting signs of near term problems—loss of recent upside momentum will require a period of reparation. The unimpressive intraday rallies over the past several days suggest that we are not getting what we want. Expect more of the same frustrating behavior—stock selection is extremely important. Use strength to sell stocks that look technically unattractive. See our section entitled "Attractive Technical Stocks" and "Unattractive Technical Stocks". The Dow and S&P 500 are still trading within their 5% to 10% trading ranges (taken from their respective 1999 highs)—this is normal activity but we caution that their May/June lows MUST hold or we will have to revert our trends from neutral to down. Stay tuned. Our main job as technicians for Prudential Securities is, as we define it, to identify the market's major (primary) trend. In early July we extended the market's primary uptrend beyond our original target of Dow 11,500 to over 12,000. And during the first two weeks of July most of the important averages (Dow, S&P 500 and the NASDAQ Composite) made all time new highs. Even the big stocks, like Lucent, IBM and Microsoft scored all time new highs. The second part of our job as technicians is to inform you whenever the primary trend has changed. Well, the second two weeks in July were quite different-the great earnings reports were just not good enough and many of the leaders, like LU, IBM and MSFT, were sold down dramatically. In just two weeks, the Dow lost 5.7% (or 645 intraday points), the S&P 500 lost 6.3% (or 90 intraday points) and the NASDAQ Composite fell 8.7% (or 250 intraday points). Just a normal correction you say for these two averages? That's true! And it is also true that we can expect these types of normal corrections to occur at any time, for any number of reasons. However, during this most recent decline the primary trends changed-the Dow and the S&P 500 both broke their respective 10 month uptrend last week. These primary uptrends began in early October 1998 when Greenspan dropped interest rates. The stock market is now putting us all "on-notice". "Watch me, it is saying. Watch me very carefully!" We don't mind if the primary uptrend is broken a little bit-we would prefer that it didn't happen-but we can still live with it as long as it doesn't do more damage. The market must now contain its recent damage and it must repair this loss of momentum. And this is possible as long as the primary support levels remain intact. The critical (primary) support levels now represent the May/June 1999 lows on most market averages and most individual stock chart patterns: On the Dow, 10,334.42 is its June intraday low. On the S&P 500, 1292.20 is its June intraday low. On the NASDAQ Composite, 2340.00 is its May intraday low. As of last Friday's close the Dow is 320 points (or 3%) away from its critical June low. The S&P 500 is 38 points (or 2.8%) away from its primary support registered in June and the NASDAQ Composite is 300 points (or 1.4%) away from its respective critical May support level. If these three averages were to successfully retest their May/June lows in the days ahead and were to stabilize above these levels for a while, then they would be tracing out neutral trading ranges. From their recent all time intraday highs to their May/June lows they would be in respective ranges of 8.5% for the Dow, 9% for the S&P 500 and 18.5% for the NASDAQ Composite. We can live with this range bound market for a while until it repairs the damage that was inflicted upon it recently. Today, we are going to give the stock market the benefit of the doubt-we are willing to wait for a successful retest and rebound off these primary support levels. Hence we are not changing any targets offered in early July. We are maintaining the same market opinion, except that we appreciate the need to stabilize for a while in order to repair the market's lost momentum. Today, Wednesday, August 4th-the stock market and Ralph Acampora will both celebrate an important anniversary. It was on this day in 1998 that he turned from a long term bull into a "cyclical bear". That day the DJIA lost 299 points! We are sure that the media will remind us all of this event and will try to make some comparisons. In the meantime, Ralph was part of a panel discussion on Tuesday, August 3rd. Portions of this meeting were covered by the media and will most likely be reported throughout the day. In anticipation of some "what if …" questions we presented our responses below. Interestingly enough, Ralph was not actually asked these questions but here they are anyway because they are important queries that should be addressed: Questions: "What if the primary support levels are broken? And could we be in for another period like July/October 1998?" Our answers: July 1999 is similar and also dissimilar to July 1998 in several important ways: Similarities: Breadth (Advance/Decline statistics) on the NYSE, AMEX and OTC markets are now below their respective May/June 1999 lows. The Dow Utilities broke down last week. Divergences abound especially between the DJIA and the DJTA. There is still too much bullishness around as reflected in some of the sentiment indicators. Leading stocks are now under selling pressure. Dissimilarities: In July 1998 we began seeing about 400 new 52 week lows per day. This July we only saw about 170 new 52 week lows per day. During July 1998 we had no stocks to buy during the decline (we saw massive liquidation). Today we have stocks to buy-this is called rotation and it is a much more comfortable feeling. During the summer of 1998 we had to deal with international concerns. This summer we have to deal with domestic concerns (interest rates). Let us now give the reader our definition of corrections: A normal correction is a market that falls somewhere between 5% to 10%. A nasty correction is a market decline of somewhere between 10% to 15%. A very nasty correction is a market sell off that carries into the 15% to 19.9% range. A bear market is a decline of 20% or more. These percent declines are from the market's averages' respective 1999 intraday highs. Question: What if the critical support levels are broken? Answer: On a strict trend following basis, any close below these critical support levels would, by definition, take the leading averages into major downtrends. We will never fight a primary trend. Such a downside reaction would give us reason to believe that we entered into a very nasty corrective phase. Like last summer, we will then push our Dow upside target(s) into next year. Last August, if you will recall, we pushed our Dow 10,000 target into 1999-if we have to, we will do the same this year. We will push the Dow 12000 + targets into the year 2000 if needed. Why would we do this? Simply because we are still long term bulls and any interruption (or very nasty correction) at this time is not considered terminal. Here are the technical levels that we believe, if broken, will indicate further upside or downside momentum: Dow Jones Industrial Average Primary Support 10,471 (6/24/99) Secondary Support 10,409 (6/1/99) Primary Resistance NONE Standard and Poors 500 Primary Support 1257.46 (3/23/99) Secondary Support 1205.46 (1/13/99) Primary Resistance NONE Nasdaq Composite Primary Support 2542.36 (6/26/99) Secondary Support 2397.12 (6/14/99) Primary Resistance None Russell 2000 Primary Support 442.49 (06/25/99) Secondary Support 431.37 (06/15/99) Primary Resistance None Source: Bridge Data Service Intermediate Term The last two weeks of July witnessed a sharp drop in price for many individual stocks. This loss of momentum has taken some of the steam out of the summer rally, at least for the short term. Yet despite this decline, we are still holding our targets of 12000+ for the DJIA this year. Only if the May/June lows in the DJIA and the S&P 500 fail to hold will we be forced to push these expectations into next year. Stay the course—but, concentrate on individual names and not the overall market. Long-Term Now that we are in the month of August, we can now start talking a little bit about next year—the year 2000! Yes, we expect interruptions between now and then; but once these concerns (interest rates, Y2K, etc.) are behind us, we think that next year (an election year) should be an overall positive one.

To: Clint E. who wrote (22546)	8/4/1999 11:47:00 PM
From: Clint E.	Respond to of 69021

Wed, 04 Aug 1999, 11:42pm EDT,,,NextCard Shares Tumble Amid Concern Rising Interest Rates Will Boost Costs By Emma Moody San Francisco, Aug. 4 (Bloomberg) -- NextCard Inc. shares tumbled 25 percent after an analyst said rising interest rates will increase funding costs for the company, which issues credit cards on the Internet. NextCard shares fell 8 1/8 to 24 1/8. The stock has lost a third of its value this week as investors shy away from Internet stocks. ''The cost of capital is high,'' Meredith Whitney, an analyst at First Union Capital Markets wrote in a report. ''We think that now is not the time to own small-cap, illiquid stocks.'' San Francisco-based NextCard, which has yet to turn a profit, issues cards only through its Web site, www.nextcard.com. The company sold 6 million shares at $20 each in an initial public sale in May. ''Internet stocks are off significantly, and more specific to NextCard are the fundamentals of the credit market,'' Whitney said. ''The credit markets are nearly as bad as they were last fall, which has negative implications'' for companies that rely on selling asset-backed securities for funding. Credit card issuers such as NextCard package their accounts receivable into securities and sell them to investors. This is getting more expensive. The spreads, or difference between yields on the credit card-backed securities NextCard sells and U.S. Treasury bonds, last week staged their biggest one-week rise this year amid expectations the U.S. Federal Reserve will soon raise interest rates and heavier-than-usual sales of asset-backed securities, Whitney said. Capital One Financial Corp. fell 3 3/4, or 8.6 percent, to 39 13/16, and Metris Cos. fell 2 7/8, or 8 percent, to 33 1/16. Rising interest rates also tend to damp consumers' enthusiasm for using credit cards. Whitney, who has ''buy'' ratings on NextCard and Capital One, and a ''hold'' on Metris, said she may reconsider her ratings on the industry. In addition, many Internet stocks are falling as investors become less willing to pay high prices for companies that are making little or no money. The Bloomberg Internet Index, which tracks 146 U.S. Internet companies with market values of more than $250 million, has fallen 23 percent from its July 15 record. NextCard is scheduled to report its second-quarter results tomorrow afternoon.

To: Clint E. who wrote (22546)	8/4/1999 11:53:00 PM
From: Clint E.	Respond to of 69021

Same old story,,,CBS MarketWatch,,,5:29 PM ET Aug 4, 1999 Bond Report NEW YORK (CBS.MW) -- The familiar refrain of morning strength, afternoon weakness, technology sector selling and Internet stock dumping characterized Wednesday's activity on Wall Street, as some looming economic reports kept buyers in scarce supply. The Dow Jones Industrial Average declined 2.54 points to 10,674.77. Without a 10 9/16-point gain in Union Carbide, the index would have been off about 51 points. The Nasdaq Composite descended 48.07 points, or 1.9 percent, to 2,539.92. Since July 19's session high, the tech-drenched gauge has lost 11.7 percent. The Standard & Poor's 500 Index fell 1.3 percent. The Russell 2000 Index of small-capitalization stocks sank 1.5 percent. On the Big Board floor, turnover swelled 7 percent to 785 million shares. Laubscher feels that the market is close to staging an oversold rally. But he doesn't think the rally will amount to much in the absence of any good news. "We're continuing to tell people to sell the market every time it goes up," he said. "And if you're thinking of buying anything in the Internet business, have a martini and lie down and wait for the urge to pass. They're all going to go so much lower." 8/4/99 7:06:48 PM ET In the bond market, Treasurys blossomed as the prospect of diminished issuance through government buybacks underpinned prices. See full story. The 30-year Treasury rose 20/32, to yield 6.112 percent. See Bond Report. "At the end of the day, market yields will be set not on technicals, such as changes in supply, but on fundamentals, such as growth and inflation," said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co., in a research brief. "In this vein, until the economy slows, a sustainable bond rally could prove elusive." Of importance is the Thursday release of second-quarter productivity data and Friday report on July jobs growth. The former release is receiving more attention than normal in light of Federal Reserve Chairman Alan Greenspan's recent comments regarding productivity and its major role in quelling inflation. Given the heady stock run-up in advance of the second-quarter earnings season, relatively few participants are willing to bet on a fresh advance of meaningful proportions. Throw in an unfriendly bond market, a lack of conviction, and the seasonally-worst period of the year and it's not surprising that many players are opting on the side of restraint. "You are transitioning from a momentum market, dominated by a small number of large-cap technology and Internet stocks, into a trading-range market, where relative value and security analysis count," said James Awad, chairman of Awad Asset Management Inc. Awad, who runs $1 billion, is a long way from throwing in the towel on this market. "I don't think you should get bearish," he said. "I think the name of the game has changed. The big averages are not going to carry the day. The old leaders are not going to carry the day. But there are still a lot of cheap stocks. And if you own them, you can make money." Union Carbide (UK: news, msgs) and Dow Chemical (DOW: news, msgs) will team up in a deal worth $11.6 billion in stock and debt, creating the world's No. 2 chemical company. Union Carbide shareholders will be given 0.537 Dow shares for each share of Union Carbide they own. Dow shares lost 5 1/16 to 119 5/8, while Carbide stock drove ahead 11 3/16 to 60. See full story. Internet stocks limped lower for the fifth day in a row as many of the names approached their lows of mid-June. Individual investors have been the participants exerting the most pressure on the group over the past three months. Top-shelf names were all lower: America Online faded 1 7/16 to 87 3/8, Yahoo 4 1/2 to 120 7/8, Amazon.com 6 7/16 to 88 7/16, EBay 8 5/8 to 75 3/4, ExciteAtHome 2 3/8 to 41, and CMGI 5 7/8 to 76. Champion International (CHA: news, msgs) climbed 4 3/4 to 59 5/16. ABN AMRO began coverage of the paper producer with a "buy" opinion and price objective of $65. The broker likes the improving industry fundamentals and relative valuation of the stock. Other paper and forest products producers climbed amid positive analyst comments International Paper was ahead 2 15/16 to 54 15/16, Temple Inland 2 11/16 to 68 3/4, and Bowater 2 13/16 to 52 11/16. See full story. International Business Machines (IBM: news, msgs) stepped back 3/4 to 118 5/8 despite SoundView Technology Group analyst Gary Helmig upping 1999 and 2000 earnings estimates and boosting his 12-month price objective to $160 from $130. The analyst believes the Y2K capital equipment spending slowdown will be less than expected. Among other benchmark computer-related issues, eight stocks fell for each that gained. Most losses, however, were confined to 2 percent. On the plus side, Microsoft added 3/16 to 84 15/16 and Hewlett-Packard tacked on 1 3/4 to 110 1/4. Liquid Audio (LQID: news, msgs) declined 2 9/16 to 22 1/16. The provider of software that enables online music distribution registered a second-quarter operating deficit of $1.46 a share vs. the 94-cent loss of a year ago. Maxim Integrated Products (MXIM: news, msgs) said fiscal fourth-quarter profit totaled 34 cents a share, matching the First Call estimate, and a penny richer than the year-ago figure. The stock fell 2 13/16 to 62 1/16. Theglobe.com (TGLO: news, msgs) reported a second-quarter pro forma operating loss of 27 cents a share, a nickel better than the First Call forecast. In the second quarter of 1998, the Web site operator lost $1.65 a share. The stock rose 1 1/2 to 11 3/8. The Limited (LTD: news, msgs) said robust demand for its Express brands and Lerner New York and Lane Bryant product lines should allow it to net 26 cents a share from operations in the second quarter. Wall Street had anticipated 19 cents, per First Call. The shares added 1 1/8 to 46. Most of the current cycle's speculative growth stock leaders took on water. NextLink Communications wilted 5 7/8 to 82, VISX 5 3/8 to 87 1/4, and QLogic 7 3/4 to 68 7/8. But Qualcomm (QCOM: news, msgs) added 2 7/16 to 142 7/16 after Deutsche Banc Alex. Brown analyst Brian T. Modoff repeated his "strong buy" recommendation. Modoff believes that Tuesday's selloff in the stock was "excessive." Then, the shares were pressured after Motorola announced plans to enter the CDMA merchant chipset market, a market in which Qualcomm holds an approximate 85 percent share. After the close of Wednesday's trade, GoTo.com (GOTO: news, msgs) said it lost 20 cents on a pro forma basis in the second quarter, 2 cents better than the First Call forecast but 9 cents worse than the year-ago tally. The company operates an Internet search service. In afterhours Instinet activity, the shares weren't trading. After the close of Wednesday's trade, Anchor Gaming (SLOT: news, msgs) squeaked past the First Call projection by a penny when it reported fiscal fourth-quarter operating net of $1.23 a share vs. the $1.42 of a year ago. In afterhours Instinet activity, the shares weren't trading. After the close of Wednesday's trade, Sterling Software (SSW: news, msgs) reported fiscal third-quarter operating earnings of 46 cents a share, a penny richer than the First Call view and 14 cents more than the figure of a year ago. In afterhours Instinet activity, the shares weren't trading. After the close of Wednesday's trade, Teleglobe (TGO: news, msgs) said it earned a nickel a share in the second quarter, 2 cents leaner than the First Call expectation and 17 cents worse than in the same period of 1998. In afterhours Instinet activity, shares of the telecommunications network operator weren't trading. LOOKING FORWARD Thursday, the weekly jobless claims report will be presented at 8:30 a.m. ET, with most economists anticipating 305,000 new claims for state unemployment insurance benefits. At 10:00 a.m. ET, second-quarter productivity data will be released. Most forecasters expect a figure of 2.2 percent.