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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: MeDroogies who wrote (87178)	11/29/2000 4:11:52 PM
From: Night Writer	Respond to of 97611

Short Covering Started at 3:30 p.m. EST New York, Nov 29, 2000 (123Jump via COMTEX) -- When the shorts decide to cover, the longs like to come in on top of them with buy orders. As a result, the Dow 30 Industrial Average has jumped some 40 points, while the Nasdaq Composite Index's loss has been pared by one-half. How does it translate in terms of price change? Oracle Corp. (ORCL), which has traded in a narrow range all session, has moved up about 50 cents to a fraction over 22. Juniper Networks (JNPR) has ticked up to trade at 115.31, a gain of 9.38. Corvis Corp. (CORV), the all-optical networking equipment startup, has rallied to a 5-point gain. Traders working lines of shares in these three issues and more will switch from net short to net long if they determine the market wants to head the other way. That changeover usually induces these mini-rallies on these bearish sessions we've seen for the past two months. The hopes of bottom-fishers and position traders in a late-day rally will follow through into the morning - maybe longer. The catalyst for a follow-through rally could come in the form of tomorrow's retail sales figures for the month of November. How that will help an optical networking stock, as compared to, say, retail chain outfit Target(TGT), which tacked on a point to move at over 31 today, is anybody's guess. At this point, any excuse, much less a legitimate reason, for a sustained rally will do. CONTACT: For more information, contact 123Jump.com, Inc. 212-968-8700 Send email to: info@123jump.com Or, visit 123Jump at: 123jump.com All Rights Reserved. (c) Copyright: 2000 123jump.com, Inc.