Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (77742)	6/1/2001 5:33:13 PM
From: t2	Read Replies (1) \| Respond to of 99985

it is Friday, you should expect short covering to bump the market a tad near the close. Zeev, That is true. However, there was another factor at work that kept buyers out of the market, imho. Oracle was due for a profit warning today--one day after the quarter ends. So far, no press releases out of the company. IMHO, if no warning, this Nasdaq is going to suprise a lot of people. Have a good weekend. The reason I say buyers stayed away is quite obvious from the Oracle stock price afterhours. It closed at $15.86 but is now trading at $16.40 That is too big of a move to not reflect nervousness of buyers during the day. If they were worried about an Oracle warning, you can bet they were hesitating on MSFT etc... There is no doubt in my mind that the Nasdaq market would have gone up much more, had Friday been June 2 and not June 1. Oracle is known to announce profit warnings the day after the quarter end. I bet technology buyers will feel more comfortable by Monday morning if we still hear nothing from ORCL. This Nasdaq market is going to surprise a lot of people if investors feel Oracle made the quarter. They just issued a press release for the date and time of their earnings...another hint they made the quarter. This market is heading up.