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

To: Clint E. who wrote (33268)	7/5/2001 6:17:34 PM
From: Return to Sender	Respond to of 69822

AMD Moves Stocks Lower After-Hours NEW YORK (Reuters) - Stocks fell in extended trading after Advanced Micro Devices Inc. (NYSE:AMD - news) warned that second-quarter profits would be lower than expected, citing weak sales. Trading in AMD was halted after the chip maker warned profits would disappoint investors following a 17-percent drop in sales from the prior quarter. AMD closed at $28.64, after dropping $1.12 during the daily session. AMD competitor Intel Corp. (NasdaqNM:INTC - news) dropped to $29 from its close of $29.84. BMC Software Inc. (NYSE:BMC - news) fell to $21.88 on Instinet from a close of $22.75 after the systems management software maker warned profit and sales would trail expectations because of a slowdown in information technology spending. The bad news after the bell sent technology shares lower, extending a slide that began during the regular trading session after investors returned from the U.S. Independence Day holiday only to be slammed by another round of corporate profit warnings. The Nasdaq 100 after-hours indicator lost 0.52 percent and six of the 10 most active stocks traded on Nasdaq declined. dailynews.yahoo.com Last Friday positions I had opened on Thursday were up as much as 20% in one day. Now with this latest news I am only up on one position. I should have zipped out for sure. This quarter is absolutely going to stink on a comparative basis. This will be true for most every company in technology. We all knew that would be true. The reality of just how bad it really will be perhaps has yet to be fully priced in. It may never be priced in if investors continue to look forward far enough. We are in a trading range. Sadly with such low volume we cannot even begin to think the market has reached anything other than a trading range. Leaving this range to the upside will take good news and earnings visibility in enough technology large caps to jump start the market. Leaving to the downside would happen if we realize we are in a recession. The FED has played nearly all its cards. Where are the orders in technology? Despite the lack of apparent orders in technology the consumer is still spending. The NAPM actually came in above expectations. We are in a trading range. RtS