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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (32607)	6/5/2001 11:42:14 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70762

10:33 ET Microsoft (MSFT) 72.35 +1.57 (+2.2%) : -- Technical -- For more than a month MSFT has been stymied by resistance near 72 (nine month high from Nov at 72.37). Intraday posture above 71 leaves the door open to a penetration with the next resistances of interest at 73.37 and 74.87. 10:13 ET Nasdaq Composite : -- Technical -- Strong performance thus far with the index now eyeing resistances at 2216 and 2226. These are solid short term barriers and the index may have difficulty on initial attempts to penetrate. It will be important that supports at 2174 and 2164 are not taken out if a pullback does develop. 10:07 ET ONI Systems (ONIS) 34.90 +1.00: Sources at CSFB telling Briefing.com that the firm is speaking positively on ONIS after meeting with management; CSFB sees strong top line visibility in core products and a bullish ramp on new products; competition from NT and CIEN, but NT is being aggressive on price with an inferior product; CSFB is positive on top-line but notes that margins could come in at the low end due to competitive pricing environment. 10:07 ET Elastic Networks (ELAS) 2.12 +0.22 (+11.6%): Verizon Avenue, a subsidiary of Verizon Communications, selects company's EtherLoop technology as the enabling platform for a nationwide rollout of high-speed broadband services. Verizon Avenue to deploy Elastic products to multi-tenant dwellings in 31 states. 10:04 ET Economic Data : Factory Orders for April was reported at -3.0%, below the consensus of -2.7%; excluding transportation at -1.7%. NAPM Services for May was reported at 46.6% with the price index unchanged at 59.5 10:00 ET Sector Watch: Networking : One of the best performing sectors today being led by CSCO (+5.5%), CMVT (+7.8%), LU (+8.1%) and JNPR (+4%). Both CMVT and LU are working back toward their 50 day simple ma at 64 and 9.2, respectively.