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To: Sig who wrote (6454)	2/27/2002 6:15:07 AM
From: stockman_scott	Respond to of 13815

Briefing.com's General Commentary Updated: 27-Feb-02 Though the sector/market wasn't able to build on Monday's big advance, it did show resilience. Indices pushed higher off the open, only to get undercut by a weaker than expected consumer confidence number... Confidence reading unnerved investors that just yesterday were buying on expectations of an economic recovery... However, it should be noted that a) the consumer confidence numbers are often volatile coming out of a recession and b) consumers indicated a willingness to spend on big ticket items such as cars and appliances, thereby muting the headline miss... Maybe it was knowledge of these factors that helped market regain its footing in the afternoon... Indices fell short of full recovery, but in light of recent behavior fact that bears weren't able to keep downward pressure on the market suggests that sector/market wants to go higher. Chip sector gave back some of yesterday's big gain amid weakness in Intel (INTC 30.02 -1.00), Genesis Microchip (GNSS 40.09 -3.36), Altera (ALTR 20.81 -0.78), Applied Micro Circuits (AMCC 8.03 -0.59), Linear Tech (LLTC 38.44 -1.15) and Analog Devices (ADI 38.72 -1.31)... There were a few standouts in the group, however, as evidenced by the solid gains in Rambus (RMBS 7.42 +1.42), Conexant (CNXT 10.59 +0.61), Kulicke & Soffa (KLIC 17.55 +0.71) and SpeedFam-IPEC (SFAM 2.65 +0.28). Rest of tech sector also mixed, with Software, Networking and Internet stocks leading the winners, while Hardware, Telecom and Wireless stocks lead the losers. Sector still trying to find its way in light of the accounting/debt uncertainties, but ability to hold on to most of Monday's gain despite some adverse economic news suggests that momentum might be shifting - if only temporarily - back in the favor of the bulls... If true, stocks with heavy short-interest will be among the early winners... Stocks such as VRSN, PMCS, BRCD, GNSS, NVDA and EBAY come quickly to mind.