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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: BarbaraT who wrote (47115)	12/17/1999 5:11:00 PM
From: 2MAR$	Respond to of 108040

Barb , I and alot of others are with you on NITE, have made some good trades on it this week, record trading volumes, NITE has to be a double from these levels: (REUTERS) Nasdaq strikes 54th record on big-name strength Nasdaq strikes 54th record on big-name strength (updates to close) By Kristin Roberts NEW YORK, Dec 17 (Reuters) - The Nasdaq market surged to yet another record close on Friday, capping its seventh week of gains, as big-name tech stocks surged higher amid a broad Wall Street rally. "There are exciting things happening and the momentum players just love these stocks. And that's what's going on day after day," said Charles Pradilla, market analyst at Cowen and Co. "It's an area that's gotten extended and stayed extended to its credit," said Gregory Nie, technical analyst at First Union Securities Inc. The Nasdaq composite index <.IXIC> rose 38.07 points, or 1.02 percent, to 3753.13 -- its 54th record of the year. The market fell off an intraday high of 3796.80 hit early in the session. Still, the tech-driven Nasdaq has risen 71 percent so far this year and more than 700 points in seven weeks. The broader market was also higher with the Dow Jones industrial average <.DJI>, which includes two Nasdaq names, gaining 12 points to 11257 and the Standard & Poor's 500 index up 2 points to 1421. The Nasdaq logged strong volume with 1.55 billion shares trading -- off the record 1.78 billion shares hit last week. Breadth was slightly negative with 2,160 shares trading lower compared with 2,002 moving higher. But 198 stocks hit new highs Friday versus 117 at fresh lows. The Nasdaq 100 index <.NDX> of top Nasdaq stocks gained 27.55 points to 3359.86 after hitting an intraday high of 3434.22. Software giant Microsoft Corp. <MSFT.O>, a Dow component, helped boost the Nasdaq higher throughout the week. On Friday, the stock rose 1-9/16 to 115-1/4, marking a new closing high after rising to 117-1/8 during the session. Microsoft has surged 20 percent this week alone on news about its Window 2000 product and speculation that a settlement may be forthcoming in the government's antitrust case. Chip maker Intel Corp. <INTC.O>, also part of the Dow, pushed higher, gaining 1-13/16 to 82-1/16 on Friday, leading the entire semiconductor sector higher. The Philadelphia Stock Exchange's semiconductor index <.SOXX> gained 1.40 percent, or 8.81 points to close at 639.34. KLA-Tencor <KLAC.O> was also strong in that sector, trading up 3-11/16 to end at 96-9/16. Graphics publishing software maker Adobe Systems Inc. <ADBE.O> was another big winner on the Nasdaq after handily beating Wall Street's fourth-quarter earnings estimates Thursday night. The stock closed up 3-3/4 at 67-1/2, still off the year high of 79. Internets and online financials were mixed Friday after swinging between positive and negative territory throughout the week. TheStreet.com Internet index <.DOT> lost 10.54 points, or 0.94 percent to 1113.09, while the Dow Jones Internet index <.DJINET> ended less than a point, or 0.81 point at 379.11. Akamai Technologies Inc. <AKAM.O> jumped 10-3/4 to a new closing high of 281-3/4 after hitting an intraday record of 298 on news it struck a deal with Internet venture firm CMGI Inc. <CMGI.O> to enhance the performance of Web sites within the CMGI network. CMGI shares dropped 9-3/4 to 211-13/16 after hitting a new high of 240 on Thursday. Shares of some online financials slipped lower, including Knight/Trimark Group Inc. <NITE.O>, down 2 to 50-3/4, and ETrade Group <EGRP.O>, off 1/4 at 30-1/16. ((Wall Street Desk 212-859-1730)) REUTERS end of story *