To: d. alexander who wrote (25607 ) 3/16/2000 12:43:00 PM From: Johnny Canuck Read Replies (2) | Respond to of 68438
Thanks Dorothy, Moderate Sell signal generated on the SPX. I am look for a test of 1390 area. I expect it to hold. COMPX tested the support around 4400, near the 50 day EMA. We are rebounding now, but looking at the trading on the QQQ's the rebound is on declining volume (ie... not much conviction). The bonds, financials and retail look alright. I think most of the damage of a 1/4 point rise has been priced into the market at this point. I have not seen an subtantial revision of earnings estimates for the second Q. Most telecom stocks have a weak first Q. Since most of the current rise in the market has been telccom driven I see no reason for the market to fall apart at this point. Most of this week;s action was to limit the loss of firms that sold calls long. Thu Mar 16 12:33pm ET - U.S. Markets close in 3 hours 27 minutes. Dow 10562.96 +431.55 (+4.26%) Nasdaq 4598.71 +16.09 (+0.35%) S&P 500 1438.15 +46.00 (+3.30%) NYSE Volume 775,930,000 Nasdaq Volume 1,086,221,000 30-Yr Bond 6.043% -0.029 INTERNET 13 -2.8% Edit Delete Compare CHIPS 13 -0.6% Edit Delete Compare CHIP EQUIP 12 +4.1% Edit Delete Compare Telecom Equip 21 -2.9% Edit Delete Compare RETAIL 8 +2.2% Edit Delete Compare SOFTWARE1 13 -0.2% Edit Delete Compare DSL 6 +0.9% Edit Delete Compare DWDM 15 -0.2% Edit Delete Compare Financials1 6 +5.7% Edit Delete Compare Carriers1 6 -0.9% Edit Delete Compare Telecom Construction1 3 +0.3% Edit Delete Compare networkers1 4 -2.6% Edit Delete Compare Contract Manufacturers 5 +1.8% Edit Delete Compare Tier 2, D-WDM 15 -3.5% Edit Delete Compare Broadband Cable 1 8 -6.1% Edit Delete Compare Harry's current watchlist 33 +1.2% Edit Delete Compare DOW 10 +3.3% Edit Delete Compare DRUGS 4 +3.8% Edit Delete Compare XML 15 -2.9% Edit Delete Compare Internet Security 20 -4.2% Edit Delete Compare Supercoductors 5 -4.8% Edit Delete Compare Bull Sector-optical 84 -1.6% Edit Delete Compare Satellite Stocks1 3 -1.4% Edit Delete Compare