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

To: Augustus Gloop who wrote (4057)	8/14/2001 10:58:28 PM
From: Augustus Gloop	Read Replies (1) \| Respond to of 10077

NVLS - 48.77 STOP - 46 OR 45 Bullish Price Obj: 74.00 Risk/Reward 9.11 61 61 60 ----------------------------------------------------------------------------60 59 * 59 58 X * * 58 57 X X X X O * * X * 57 56 X O X X O X O X O * X X * X O * 56 55 --------X O X O X O X O ----X O ----X O X O * --X O --* ----X --------------55 54 X O X O X 5 X O X O X X O X O X * X 7 * 8 O 54 53 X O X O X O O X X O X O X O X O X O X O * X O 53 52 X O X O X O X O X O X O X O O X O X O X O Med52 51 X O O X O X O X O O X O X O X O X X X O 51 50 --------X ----O X ----O X O X ----O X ----O X O X O X O X O X O X ----------50 49 X X O O O X O X O * O X O X O X O X O X 49 48 X O X O X * O 6 * O O X O X O X O X 48 47 * X O X O * O X * O X O X O X O * 47 46 * X O * O X * O X O X O * * 46 45 ----X --------------------* ------O * ------------O --O X * ----------------45 44 X * * O * 44 43 X * * 43 42 X * 42 41 X * 41 40 ----X ----------* ----------------------------------------------------------40 39 X X * 39 38 X O X * 38 37 X O X * 37 36 X O X * 36 35 X O X * -------------------------------------------------------------- Bot35 34 X O * 34 33 * 33 32 32 31 31 30 ----------------------------------------------------------------------------30

To: Augustus Gloop who wrote (4057)	8/15/2001 7:36:00 AM
From: Rich1	Respond to of 10077

Speaking of EASI..... The Big Picture Wednesday, August 15, 2001 Printer-Ready Version Sellers Still Prevail As Volume Picks Up Investor's Business Daily Volume picked up a bit Tuesday. But the heavier trading didn’t help the market. Stocks started the day higher, helped in part by better-than-expected retail sales. Consumers held spending steady in July. Wall Street forecast a 0.2% decline. But the modest gains started to unravel by 10 a.m. EDT. By the close, the Nasdaq lost 0.9%. Volume increased 7% to 1.23 billion shares, still on the light side compared with the past 50 days of trading. The decline in higher volume equaled distribution, a sign that big investors were selling. That doesn’t bode well for the Nasdaq’s latest attempted rally, feeble as it may be. Usually one day of distribution is all it takes to derail a rally. That was the case a week ago when the Nasdaq dropped in higher volume Aug. 7. Three days later, the index undercut its prior low. The market may not be making any headway. But weeks of profit warnings and missed estimates haven’t torpedoed the major indexes. Imagine the effect earlier in the year when the slightest bit of bad news would unleash a torrent of selling. That resilience is encouraging. But so far the market hasn’t turned it into unequivocal strength. The Nasdaq’s loss Tuesday had little effect on the Dow industrials, which dipped less than 4 points. The S&P 500 dropped 0.4%. The broad market did well for itself, despite the major indexes. NYSE advances beat declines 11-to-7. The advance-decline line is actually carving a slight uptrend as the Dow and S&P trudge sideways. That’s a welcome sign of underlying strength. But you need a confirmed rally in the major indexes to feel confident about buying stocks. Of course, you’d still need some worthy stocks, which are in scarce supply these days. One of the few is ResMed (RMD), which worked a little more on its 13-week saucer base. The maker of medical devices to aid nighttime breathing is just 2% off its high. The stock gained 1.58 to 57.43. Volume started off heavy, but finished only 49% above average. ResMed scores an A+ from the IBD Stock Checkup at investors.com. Recent breakouts continue to run into resistance. Engineered Support Systems (EASI) popped out of a seven-week base Aug. 3. The defense contractor climbed about 15% from its pivot point. But a valuation downgrade Tuesday from Sidoti & Co. blindsided the stock, which lost 4.21 to 41.01. Volume surged almost three times above normal as the shares closed just under their pivot. Valuation downgrades have been the bane of breakouts since April. Normally, they’re a minor nuisance. But in this market they’ve crushed stock after stock. After the close, Applied Materials (AMAT) reported a 93% dive in fiscal third-quarter profit to 5 cents a share. That’s actually good news since Wall Street expected 3 cents. The big chip-equipment maker said fourth-quarter sales should match the third quarter’s $1.33 billion. That would stem three quarters of declining sequential sales. The stock traded just above 45 after finishing the regular session at 43.65, down 1.19. Return to top of page