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Strategies & Market Trends : Mu Gamma Lambda -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (51)	6/7/2001 10:11:34 PM
From: Augustus Gloop	Read Replies (1) \| Respond to of 10077

OK. Now that the Intel news is behind us I am going to focus on Tech stocks. Keep in mind that many of these tech sectors are in correction mode. Furthermore, expect tech warnings amore' to come in the next few weeks so be careful. Charts coming Gloop ** These will all be chart reads....fundamental analysis is on you.

To: Jorj X Mckie who wrote (51)	6/7/2001 10:14:00 PM
From: Rich1	Respond to of 10077

Tomorrow's Big Picture.. Didn't someone just ask about MSCC it broke out today.. The Big Picture Friday, June 8, 2001 Printer-Ready Version Chip Stocks' Good News Boost Indexes Investor's Business Daily Chip stocks buoyed the Nasdaq and eventually the rest of the market Thursday. While investors waited on Intel’s (INTC) midquarter update, Broadcom (BRCM) and National Semiconductor (NSM) gave previews of the battered chip market’s next move. National surprised Wall Street with a profit of 1 cent a share. Analysts expected a loss of 3 cents. Bookings improved, although the company still sold more chips than were ordered. Still, the company thinks big buyers exhausted their inventories. “We’ve got to be pretty close to bottom with some of these key customers,” said Brian Halla, National Semi’s chairman, president and chief executive. National followed Broadcom’s dismal assessment late Wednesday that second-quarter sales would drop as much as 35% below first-quarter revenue. But Broadcom said in a conference call Thursday morning that customers were no longer canceling or delaying orders. National jumped 3.07 to 31.04. Broadcom popped up 4.67 to 40.24. Despite the big gains on heavy volume, both stocks remain well off their highs. A few chip-related stocks have already returned to record territory. FEI Co. (FEIC) broke out May 10, crossing 30 as volume surged 10 times above normal volume. The maker of advanced particle beam products ran up another 3.50 on Thursday to close at a new high of 42.10. Chipmaker Microsemi (MSCC), which broke out May 15, climbed 1.44 to 64.6, also a new high. The Nasdaq composite pushed 2.1% higher, its fifth winning day in the past six. Philip Morris (MO), hit with a $3 billion judgment, weighed on the Dow industrials most of the session. But as the chip enthusiasm spread, the tobacco stock climbed off its lows, finishing down 1.48 at 48.52. The Dow turned positive in the afternoon and closed up 0.2%. The S&P 500 picked up 0.6%. Volume eased 6% to 1.66 billion shares on the Nasdaq and climbed slightly on the NYSE. Market watchers linked the light activity to nervous anticipation of Intel’s briefing. After the close, Intel reported second-quarter sales will probably come in at the lower end of prior expectations. “The company continues to see stability in the microprocessor business and weakness in its communications-related businesses,” the big chipmaker said in a statement. “Intel still expects a seasonally stronger second half.” That was good enough for investors straining to find silver linings. Intel’s stock jumped more than a point and a half in late trading. It closed up 1.32 at 31.14 during the regular session. Oakley (OO) tumbled 1.99 to 21.90 in above-average volume. The stock returned to last week’s lows. It’s threatening to fall back into its previous base. This market requires disciplined trading. For every stock that’s broken out and powered higher, there’s an Oakley or two. Ignore the fact that Oakley’s profit bolted 63% last quarter as sales jumped 49%. When a stock falters and slides 7% or 8% below your buy point, dump it. You can always repurchase the stock if it recovers and breaks out again.