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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Frederick Langford who wrote (18291)	1/3/2002 10:20:58 PM
From: TREND1	Read Replies (1) \| Respond to of 99280

Fred Hal is out there just calculating the probability of another "perfect storm".(g) Larry Dudash

To: Frederick Langford who wrote (18291)	1/3/2002 11:11:54 PM
From: Trumptown	Respond to of 99280

LOL!!

To: Frederick Langford who wrote (18291)	1/3/2002 11:14:08 PM
From: Ibexx	Respond to of 99280

Prudential Sec's Closing Market Commentary 01-03-2002 17:11 ET Brought to you by Larry Wachtel. This commentary, edited for use on the Internet, is broadcast on New York radio (station WINS, 1010 AM). Please note that securities mentioned within this commentary should not be considered as recommendations and are for informational purposes only. Never blue in 2002. We are two for two in the new year and while yesterday came along gradually, today was blue sky from the opening bell. The story today was technology as signs of economic recovery sent investors scurrying into the volatile but charismatic tech group. While the Dow Industrial Average gained 98 points, the percentage increase was less than one percent. The 68 point gain in Nasdaq represented a better than 3% advance. Big board breadth was excellent with a 2-1 ratio of winners to losers and volume continued substantial. Between the 1.4 billion shares on the big board and 2.1 billion on Nasdaq we cruised close to 3.5 billion shares for the day. A billion here, a billion there, pretty soon it adds up to real interest. Even the gain in the Dow had a technology bent since the three leading components were Intel, IBM and Microsoft. Leadership in the Nasdaq 100 was dominated by semiconductors like Xilinx, Applied Material, Alterra and Intel. The Semiconductor Index rose a sparkling 45 points and scored a new high. Intel was helped by a JP Morgan recommendation, saying server sales this quarter may be higher than the previous quarter. The analyst advised purchase prior to release of fourth quarter results on January 15. EMC led a strong storage group after Salomon Smith Barney said fourth quarter sales at the largest maker of data storage systems have been better than expected. Cisco Systems was a point-sized gainer and led the networking group while the two point gain in Microsoft set the tone for the software stocks. Technology companies have cut costs so much that any pick up in demand will boost earnings dramatically. Some linked stock gains to the January effect when cash from year-end bonuses and last year's tax-related selling is put back into the Stock Market. The thriving market has reignited interest in the stockbrokers. Shares of Goldman Sachs, Merrill Lynch and Morgan Stanley were all point-sized gainers. Interest has spread to the online Internet brokers with good going in E-Trade, Charles Schwab and Ameritrade. Market gains were scored even as the Labor Department reported weekly unemployment claims of 447,000, somewhat above expectations. This news comes ahead of tomorrow's December job figures, expected to show another rise in unemployment and another fall-off in non-farm payrolls. However, the job figures tend to be lagging indicators and often keep rising even while the economy is recovering. Out today were the monthly auto figures. General Motors and Ford Motor, the world's largest auto makers, said U.S. vehicle sales rose in December, aided by no interest loans offered after the September 11th attacks. It was exactly one year ago today that the Federal Reserve began on its rate cutting escapade, reducing rates 11 times in the past 12 months. We are now beginning to see the fruits of easier money kicking into the economic mainstream. The old saying is that as January goes, so goes the year. Judging by the early returns the New Year will be green on the screen. Ibexx