Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (2285)	9/19/2000 3:16:38 PM
From: TigerPaw	Respond to of 65232

Let's not forget what we have learned Sold the Jan $85 calls on QCOM. I maybe too early this time, but I was too late last time so it kind of evens out? TP

To: Dealer who wrote (2285)	9/19/2000 3:28:09 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

QCOM/JDSU--U.S. technology stocks power ahead in late trading (UPDATE: Updates to late afternoon) By Elizabeth Lazarowitz NEW YORK, Sept 19 (Reuters) - Technology stocks vaulted to session highs in late afternoon trading on Tuesday, snapping back from a three-day selloff, while lingering worries about falling corporate earnings weighed on blue chips. Technology stocks bounded higher with telecommunications company Qualcomm Inc. (NasdaqNM:QCOM - news) and networking heavyweight JDS Uniphase (NasdaqNM:JDSU - news) leading the Nasdaq market's charge into positive territory. ``People got depressed and started throwing away stocks yesterday,'' said A.C. Moore, chief investment strategist at Dunvegan Associates. ``Many of the stocks were down to support zones -- levels they needed to hold in order to prevent a more precipitous downslide ... providing opportunities for risk-takers,'' Moore said. The technology-packed Nasdaq composite index was up 99.43 points, or 2.67 percent, at 3,825.95. On Monday, the Nasdaq tumbled 2.83 percent after slumping to a five-week trough at 3,702.54. But analysts said worries about the ``Four E's'' -- the euro, the U.S. economy, energy prices and corporate earnings -- were dampening investors' buying enthusiasm. The Dow Jones industrial average was down 29.59 points, or 0.27 percent, at 10,778.93 after dropping more than 1 percent on Monday. The broader Standard & Poor's 500 Index was up 10.03 points, or 0.69 percent, at 1,454.54. Investors fear that a more relaxed pace of U.S. growth, high fuel costs and the U.S. dollar's strength against Europe's single currency, the euro, will bite into what have until recently been blockbuster corporate results. Oil prices eased back from a 10-year high of $37 a barrel hit on Monday, while overnight the euro slipped to a record low against the dollar and the Japanese yen. Alcoa Inc. , the world's largest aluminum producer, exacerbated the stock market's profit jitters after it warned late on Monday its third-quarter earnings would be well below expectations because of higher energy costs and softening demand for aluminum. Alcoa, a Dow component, fell $2-3/4 to $25-1/2, dragging on the blue chip average. ``The two big clouds that have been hanging over the markets are oil prices and earnings warning season,'' said Paul Cherney, a market analyst at S&P Marketscope. But investors swooped in to claim beaten-down technology heavyweights. Semiconductor shares blazed higher, with top computer chip maker Intel Corp. up $3-10/16 to $59-7/16. The Philadelphia Stock Exchange Semiconductor index rallied 6.53 percent. Dow components International Business Machines added $1-1/4 to $124-1/2, and Hewlett-Packard Co. rose $1-3/16 to $104-1/4. On the Nasdaq, Qualcomm jumped $6-11/16 to $76-1/2, while JDS Uniphase rallied $7-12/16 to $105-9/16.