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

To: Dealer who wrote (31487)	2/20/2001 10:42:22 PM
From: Jill	Respond to of 65232

The only "good" thing about this year is my acct, Colin Cody, gave me trader status for 2000. So I can actually offset 2000 losses against 1999 gains as an operable business. So I should get a NICE refund Its not just that--I actually have two businesses in that sense--always operated my writing/editing as a business--it seems unbelievably complex this year--I hate spreadsheets--and then I always take it upon myself to add up all the phone bills & biz expenses--ITS CRUSHINGLY BORING

To: Dealer who wrote (31487)	2/21/2001 7:57:54 AM
From: Dealer	Read Replies (2) \| Respond to of 65232

M A R K E T .. S N A P S H O T -- Early bargain hunters surface Some U.S. big caps mark gains in London trading By Rex Nutting, CBS.MarketWatch.com Last Update: 6:34 AM ET Feb 21, 2001 LONDON (CBS.MW) - A handful of U.S. large cap leaders were moving higher in pre-open trading in London, signaling at least a better start for the battered Nasdaq market. Cisco Systems (CSCO) was the volume leader through market maker Madoff Securities in London, rising 25 cents. The stock slid 7.7 percent on Tuesday. Oracle, Ariba and Sun Microsystems were all higher. Philip Morris (MO) was a loner decliner, edging to $47.70, down from its 47.93 close. Nasdaq futures were last down 7 points, while the S&P Futures were trading close to 2 points above fair value, another a positive sign. Tuesday's action Investors punished technology and financial stocks Tuesday, pushing the major market indexes lower. Only the retail sector, which was boosted by earnings reports from blue-chippers Home Depot and Wal-Mart, was able to hold on to sizable gains. Led by major losses in Hewlett-Packard, Intel and Citigroup, the Dow Jones Industrial Average ($INDU) was down 68.94 points or 0.6 percent at 10,730.88, the lowest close since Jan. 29. The Dow was propped up by Home Depot and Wal-Mart, which rose after reporting fourth-quarter earnings. The Nasdaq ($COMPQ) fell 106.82 points or 4.4 percent to 2,318.56, giving up early gains from networking stocks and Internet shares. It was the lowest close since Jan. 8. Technology shares had strengthened overnight in Asia, and rose in Europe. See Global Markets page. The S&P 500 ($SPX) lost 22.57 points or 1.7 percent to 1,278.96. The Wilshire Total Market index fell 1.8 percent. Of the 20 stocks with the greatest dollar volume on Tuesday, 18 were tech companies. See the market summary. Decliners led advancers on the New York Stock Exchange by 9 to 7. Trading volume was a light 1.1 billion shares. On the Nasdaq, declining stocks outpaced advancing issues by nearly 2 to 1. Volume was 1.82 billion shares. Fifteen of the stocks in the Nasdaq 100 hit new 52-week lows, including Cisco, Sun Microsystems, Amgen, JDS Uniphase and Broadcom. Intel added to the tech gloom by announcing it would reduce discretionary spending by 30 percent while avoiding layoffs. Shares were off $2.93 to $31.43. The networkers ($NWX) fell another 5.4 percent. The attention was focused on the networkers and chip stocks to see if they could bounce back from Friday's sell off, but some of Tuesday's biggest losers were the financials. The securities/brokers ($XBD) tumbled 5.4 percent. Retail stocks continued to attract money on the Street, as did oil stocks and some cyclical blue chips. Behind the numbers Wal-Mart reported fiscal fourth-quarter earnings of 45 cents per share on revenue of $56.6 billion, up 4.7 percent and 10 percent, respectively, from the same period a year earlier. Shares gained $1.04 to $53.40. Analysts surveyed by First Call/Thomson Financial had forecast EPS of 44 cents. "It was a good year but a year that was not quite up to our high Wal-Mart expectations," said Lee Scott, Wal-Mart's chief executive. Going forward, the retailing behemoth added that it would spend nearly $9 billion in capital expenditures, and expects to increase retail square footage by approximately 8 percent. Also in the retail sector, Home Depot said it earned 20 cents a share in the fiscal fourth-quarter, down 20 percent from the same period last year. The results were in line with what analysts surveyed by First Call/Thomson Financial were expecting. Sales for the period were $10.5 billion, up 14 percent from last year. Shares rose $1.09 to $44.09. Wal-Mart and Home Depot helped the retail sector to rise 1.9 percent. The week's economic calendar is light. Highlights include the consumer price index for January, the December trade balance, January leading economic indicators and the Treasury budget statement for January. View Economic Preview, economic calendar and forecasts and historical economic data. Treasury focus Treasurys clawed back after being down most of the day. The 10-year Treasury note gained 1/32 to yield ($TNX) 5.10 percent while the 30-year government bond rose 2/32 to yield ($TYX) 5.45 percent. See Bond Report. The euro tumbled 1 percent to 91.21 cents. The CRB Bridge Commodity index fell 0.68 to 222.25. Crude oil futures fell 58 cents to $28.58.