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

To: Dealer who wrote (14111)	11/10/2000 1:35:48 PM
From: Dealer	Respond to of 65232

<FONT COLOR=BLUE>MARKET SNAPSHOT--Dow, Nasdaq slammed Dell, Intel drop weighs on averages By Julie Rannazzisi, CBS.MarketWatch.com Last Update: 12:46 PM ET Nov 10, 2000 NEW YORK (CBS. MW) - The major indexes were deep in the red Friday following Dell Computer's more cautious sales outlook going forward. In addition, a flurry of negative analyst comments weighed on sentiment and kept the bears firmly in the driver's seat. "The larger Nasdaq stocks are breaking down again," said Todd Gold, technical strategist at Gruntal & Co. Gold said stocks like Intel and Cisco Systems, which had been stabilizing, are again vulnerable while companies that had previously showed strength, such as Broadcom, are now unraveling. In the tech arena, PC stocks paced declines on the heels of Dell's plunge. In addition, a high-profile downgrade from Morgan Stanley Dean Witter of both Intel and Dell added to the dour tone. In the broad market, retail, cyclical and financial shares backpedaled. But perceived safe-haven sectors -- like the drugs and utilities -- fared well, as did oil and oil service stocks. And tobacco stocks gained some more ground after a nice run on Wednesday in anticipation of a Republican win of the presidency. Meanwhile, the market has to live with political uncertainty as the election deadlock continues. An unofficial final tally by the Associated Press showed that Republican nominee George W. Bush held a tiny lead of 327 votes over Democratic nominee Al Gore. "Uncertainty over the election results certainly isn't helping, but it wasn't the catalyst for the selling," Gold opined. The Dow Jones Industrials Average ($DJ) fell 168 points, or 1.6 percent, to 10,666. The most negative price action was seen in shares of Intel, Hewlett-Packard, Wal-Mart, Home Depot, AT&T and IBM. The Nasdaq Composite ($COMPQ) gave up 138 points, or 4.3 percent, to 3,061 while the Nasdaq 100 Index shaved 124 points, or 4.1 percent, to 2,932. The Standard & Poor's 500 Index ($SPX) lost 1.8 percent while the Russell 2000 Index ($RUT) of small-capitalization stocks dropped 2.4 percent. Volume came in at 521 million on the NYSE and at 959 million on the Nasdaq Stock Market. Market breadth was sloppy, with decliners besting advancers by 18 to 8 on the NYSE and by 27 to 8 on the Nasdaq. Separately, Trim Tabs reported that all equity funds had outflows of $400 million in the week ending November 8 versus inflows of $15.5 billion in the previous week. Equity funds that invest primarily in U.S. stocks saw inflows of $600 million compared to inflows of $14.3 billion in the prior week. Specific movers Dell (DELL) lost $4.63 to $23.75, a 16 percent decline, taking the Goldman Sachs Computer Hardware Index ($GHA) down 6.6 percent. The PC maker posted late Thursday third-quarter earnings of 25 cents a share, matching Wall Street's projection, but said it expects revenue to grow by 20 percent in 2002 - less than Wall Street's projections. Morgan Stanley lowered its rating on the stock to a "neutral" from an "outperform," indicating that it will take time for it to regain investors' confidence. Dell also received downgrades from Banc of America Securities and C.E. Unterberg. CS First Boston said Dell must decrease its reliance on desktop revenues - now 48-percent of total sales - and establish a presence as an enterprise supplier, now only 19 percent of total sales. "Ultimately we believe Dell will succeed, but we believe investors would be wise to wait this one out," CS First Boston said in a note to clients. Intel (INTC) slumped $2.75 to $38.63 after its downgrade by MSDW to a "neutral" from an "outperform" and the Philly Semiconductor Index ($SOX) dove 5.5 percent. The brokerage cited weak PC demand and significant product transition risk as reason for the move. Among the tech heavyweights, Oracle (ORCL) slipped $1.31 to $25.88. Lehman Brothers had some positive comments on the stock after a 9.6 percent climb on Thursday -- which interrupted a three-day losing streak that saw shares go down 18 percent. "We continue to use weakness in shares of Oracle as a buying opportunity. The stock is now trading at 42 times next year's earnings estimates - a huge discount to where it has traded over the last six months." Lehman reiterated its "buy" rating on the stock. Treasury action Government bond prices were mixed, with short issues favored while the long bond encountered selling pressure. The 10-year Treasury note added 2/32 to yield ($TNX) 5.80 percent while the 30-year government bond shed 2/32 to yield ($TYX) 5.865 percent. No economic figures are set for release on Friday. View Economic Preview, economic calendar and forecasts and historical economic data. In the currency arena, dollar/yen edged up 0.4 percent to 107.79 while euro/dollar shed 0.6 percent to 0.8606 a day after the European Central Bank intervened to support its currency.

To: Dealer who wrote (14111)	11/10/2000 2:04:56 PM
From: pinhi	Respond to of 65232

Great post Glenda. eom Pinhi

To: Dealer who wrote (14111)	11/10/2000 2:05:21 PM
From: Dealer	Respond to of 65232

Little Haiti in Miami, Haitians said: At the polls they were told who to vote for. Given papers telling them who to vote for. This inside the polls. Police were called and removed these democrat workers. dealie