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

To: GrillSgt who wrote (29371)	1/17/2001 8:39:31 AM
From: GrillSgt	Respond to of 65232

Thanks to the capex comments by INTC, we get through 700 on sox. This is MAJOR.

To: GrillSgt who wrote (29371)	1/17/2001 9:11:55 AM
From: r.edwards	Respond to of 65232

Corporal Porch Monkee here with a report,, INTC posted mixed results but is é 1-1/8 in pre-market trading. JNPR and AMCC are é 12 and 5 respectively this morning – good news out of the Tech sector which has the futures é strongly as of 6:00 a.m. BAC was é even with a disappointing report. This is exactly what we’ ve been talking about for weeks – the market shaking off poor reports. A clear sign of a sold out market!! Conclusion: The immediate plus is the fact that the DJI has moved away from the 10,300 level – a close below that spot would have created all sorts of technical problems. Beyond that I find NASDAQ holding very well after last week’ s gains -- ê 8 yesterday and ê 14 on Friday after px levels had been much lower earlier in each day. So, it seems safe to say that dips are only being bought instead of selling rallies – a positive change in a well established trading pattern. This bodes well for the Tech sector today. A close above 2700 for NASDAQ would break above its downtrend line and likely send it to the 3000 area.