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

To: Jim Willie CB who wrote (36296)	4/26/2001 10:18:58 AM
From: edamo	Read Replies (1) \| Respond to of 65232

jimmy...i see qcom first support around 56.25, next at 54.5....it's a "happy day", and it is showing some signs of struggle....if the day remains positive it may firm, negative tone could test lower support....this is a bi polar market....overall trend still flat to down, think the worst case has been seen in many issues.... cautious is best...cien and jnpr may break down...technicals weak....same for csco..... did you start laying your clothes out for work?

To: Jim Willie CB who wrote (36296)	4/26/2001 11:39:25 AM
From: stockman_scott	Respond to of 65232

PeopleSoft, Fed Hopes Lift Wall Street Thursday April 26, 10:52 am Eastern Time By Denise Duclaux <<NEW YORK (Reuters) - Stocks rose in early morning trading on Thursday as promising earnings from companies like software maker PeopleSoft Inc. (NasdaqNM:PSFT - news) and mounting hopes for a fifth interest-rate cut by the Federal Reserve lured investors back into the market, a day after a solid rally. ``Stocks just appear to want to do better,'' said Alan Ackerman, a market strategist at Fahnestock & Co. ``Bad news doesn't seem to be taking a toll as it did before and good news is surfacing more frequently.'' PeopleSoft logged strong earnings that topped Wall Street's estimates and said its prior forecasts still hold despite the nation's sluggish economy. Its stock surged $6.59 to $36.52 on the Nasdaq. Optimism grew that the U.S. Federal Reserve will slash interest rates at its next policy meeting on May 15 after the number of Americans seeking first-time unemployment benefits last week rose to its highest level in more than five years. The technology-rich Nasdaq Composite Index (.IXIC) gained 23.48 points, or 1.14 percent, at 2,083.2824. The blue-chip Dow Jones industrial average (.DJI) rose 50.62 points, or 0.48 percent, to 10,675.82. The broader Standard & Poor's 500 Index (.SPX) gained 10.29 points, or 0.84 percent, at 1,239.04. Investors have been scouring corporate scorecards this week -- the busiest period of the earnings season -- for any hint the nation's economy is perking after the U.S. Fed slashed interest rates four times this year. WorldCom Inc. (NasdaqNM:WCOM - news), No. 2 long-distance phone company, gave investors hope and gained 86 cents at $20.25. The company reported profits that were in line with forecasts and reiterated its 2001 revenue estimates, notable in a time when many telecommunications firms have slashed their growth forecasts. Intel Corp. (NasdaqNM:INTC - news) rose 75 cents to $29.78 after its top executive said the world's largest chipmaker still plans to devote $7.5 billion in capital spending this year despite the soft economy and said ``there are indications that we are at the bottom of the trough.'' But Qualcomm Inc. (NasdaqNM:QCOM - news) added a touch of the gloom to the market with a drop of $6.58 at $56.40 in heavy trading on the Nasdaq. The wireless technology giant posted earnings that matched Wall Street's expectations, but warned future earnings would land short of forecasts in a weak global economy. Voice and data services company XO Communications Inc. (NasdaqNM:XOXO - news) nosed up 56 cents at $5.06. XO, which posted a loss, assured investors that it had enough money to fund its operations into 2003. Microsoft Corp. (NasdaqNM:MSFT - news) jumped 90 cents to $70.59. The Dow component said it will offer its MSN Internet access and services over Qwest Communications International Inc.'s (NYSE:Q - news) high-speed Internet network under a new five-year agreement. Oracle Corp. (NasdaqNM:ORCL - news) gained 60 cents at $17.85. The business software maker expects ``very strong'' sales in the Asia-Pacific region to continue. Industrial conglomerate General Electric Co. (NYSE:GE - news) rose $1.14 to $48.95 and its merger partner Honeywell Inc. (NYSE:HON - news) climbed $1.19 at $48.70. Both lifted the Dow. The Labor Department said initial jobless claims rose by 18,000 to 408,000 for the week ended April 21 from an upwardly revised 390,000 reported for the week earlier. It was the highest level since March 23, 1996, when claims reached 428,000. Several Fed officials are slated to give remarks on the economy on Thursday, although they were unlikely to overshadow an expected speech by Fed Chairman Alan Greenspan the next day.>>