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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (19276)	3/13/2002 1:59:51 AM
From: Lost1	Respond to of 23786

but JORJ...the new bull! How can this be? <g>

To: Jorj X Mckie who wrote (19276)	3/13/2002 2:24:06 AM
From: Lazarus_Long	Respond to of 23786

Here's a post you will probably enjoy: Message 17189765 Don't worry about the poster, scroll down to the haiku.

To: Jorj X Mckie who wrote (19276)	3/13/2002 6:52:00 AM
From: Rich1	Respond to of 23786

The Big Picture Wednesday, March 13, 2002 Telecoms Cuff Nasdaq, But Volume Dips Slightly BY CHRIS GESSEL INVESTOR'S BUSINESS DAILY A load of bad telecom news depressed the stock market Tuesday. But the Nasdaq didn't completely buckle under, and the rest of the market bounced back by the close. The headlines piled up before the market opened. Lucent Technologies (LU) warned that sales will fall short this quarter. The beaten-down telecom gear maker also disclosed it doesn't expect to return to profitability until fiscal 2003. The stock, which traded as high as 78.85 in late 1999, fell 9.7% to 5.65. Nokia (NOK) also ganged up on the telecom sector. The world's biggest handset maker forecast slower sales. The problem isn't with its cell phones. Network equipment sales may fall as much as 25% in the first quarter vs. a year ago. Nokia slumped 1.41 to 22.09 in above-average volume. Accounting worries returned to the market. WorldCom (WCOM) and Qwest (Q) both said regulators are asking for documents. WorldCom, the No. 2 long-distance carrier, fell 12% to 7.93. Qwest, the No. 4 carrier, dropped 5.4% to 8.95. The combined disclosures sapped the market at the open. The Nasdaq gapped down and lost as much as 2.6%. It traded sideways the rest of the day, yet finished at the top of its range. That still left the tech-laden index down 1.7%. But the sell-off wasn't too intense. Volume lagged Monday's by a small margin throughout the day. In the context of the Nasdaq's nearly 14% rally over the prior 12 sessions, Tuesday's pullback didn't look extreme. Keep an eye on the 200-day moving average. It supported the Nasdaq on Monday. But after the composite gapped down Tuesday, the line turned into resistance. A strong break above the moving average would be positive. The Dow industrials and S&P 500 also started the day lower. The Dow changed direction within 20 minutes and eked out a 0.2% gain by the close. The S&P 500 finished down 0.2%, but well off its lows for the day. NYSE volume expanded 11% to 1.34 billion shares. The rotation out of restaurants continued. Tricon Global Restaurants (YUM), which operates KFC, Pizza Hut and Taco Bell, will buy the A&W and Long John Silver's chains for $320 million. The deal will dilute 2002 profit by 2 cents a share. But the company plans to offset that with its strategy of combining brands under one roof. Investors didn't buy in. Tricon's stock cut through its 50-day moving average, falling 1.91 to 55.60. Volume shot up 200%. Other leading restaurant stocks extended their recent sell-offs. Darden Restaurants (DRI) skidded 1.39 to 37.41, its fourth straight down day in heavy volume. The operator of Red Lobster and Olive Garden had been a steady performer since breaking out Dec. 14. It gained 37% over the past three months. Landry's Restaurants (LNY) spiked down 1.46 to 21.90, taking out its 50-day as volume jumped 151% above normal. Even though the major averages have rallied powerfully off their September bottoms, the restaurants show how it's still a trader's market. Don't expect a reprise of 1998 and '99, when a sector would take off for months and make huge, uninterrupted gains.