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

To: Johnny Canuck who wrote (37530)	7/9/2002 3:26:24 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68187

Updated: 09-Jul-02 General Commentary Anybody surprised by Monday's decline hasn't been following the markets very closely... Big one day gains, like the one on Friday, are routinely followed up by a sizable retreat... There's simply not enough conviction on the part of buyers to sustain an advance. What hopes investor had that the rebound might extend into yesterday's session were all but dashed by the Wall Street Journal's report of accounting irregularities at Merck (MRK 47.81 -1.05)... Though unrelated to tech, the news rekindled general concerns over the truth in corporate finances... These concerns were fed throughout the day by the Congressional investigation (aired extensively on CNBC) into Worldcom's (WCOME 0.23 -0.02) fraudulent behavior. Earnings woes also weighed on the market, with software stocks among the hardest hit... Action in Microsoft (MSFT) was especially worrisome, as the software giant fell sharply throughout the afternoon... Fact that there wasn't much news to explain the drop, suggests that traders might be growing concerned that the company will issue a warning... This is just an assumption on our part based on the price action -- we have heard no such rumors, nor have we any special insight into MSFT's numbers... Other software stocks giving back recent corrective gains included Siebel Systems (SEBL 13.19 -1.22), Veritas (VRTS 19.31 -2.65), PeopleSoft (PSFT 15.65 -1.07), Oracle (ORCL 9.31 -0.67), Rational Software (RATL 8.22 -0.55) and BEA Systems (BEAS 8.50 -0.75)... Outlook for software sector not helped by news, after the close, that Citrix Systems (CTXS 5.92 -0.60) and Caminus (CAMZ 5.95 -0.05) guided sales/earnings estimates lower. Semiconductor stocks - the other group which has paced the sector's most recent decline - were also back on the defensive... Big names paced the retreat as evidenced by losses in Intel (INTC 18.50 -1.04), National Semi (NSM 23.74 -1.26), Broadcom (BRCM 16.72 -0.73), Applied Materials (AMAT 19 -0.93), Altera (ALTR 13.90 -0.90), Linear Tech (LLTC 31.10 -1.68), Analog Devices (ADI 28.70 -2.09) and Novellus (NVLS 31.15 -2.28)... The SOX, or Philadelphia Semiconductor index, fell back to within striking distance of its 52-wk low (set last week) of 343.72. Bulls can take some solace in fact that the Nasdaq managed to close above the 1400 level... However, they can't be comforted by the market's performance on Monday, or by recent history which shows that once a recovery effort gives way to renewed selling new lows tend to follow. Robert Walberg

To: Johnny Canuck who wrote (37530)	7/10/2002 3:23:11 AM
From: Johnny Canuck	Read Replies (2) \| Respond to of 68187

Increase/Confirmed Guidance up June 5,2002 to July 9,2002 BRCD MOVI ATVI GM BOBE* PFE SONC PETM* IDTI SNPS* COO ALTR ORCL MYL TWR FORG ABS PFE IDTI AVP PNRA* ANN TXN* EMC MCK OMC TYC ETH CREE KOPN NCEN WLP THC CYMI NXTL MRK TSCO RGX CVTI CHTT MYG CVD PG MOT VRTS SYMC ABS* KR HRB* MVIS DCN FO KLAC BMC NXTL ACLS AMAT DTE SOI etr wfii slab trw utx chtt* vvtv mcd tkr itw tfs roh yell blc re pii apn arm mir nyt jbx esst vvtv kri pir len gtk clx cldn z vsh mso star len* gtk* clx cldn z vsh mso itri bbby* bg qcom mlm irf sonc* mdt twp entg* srdx ttwo fmkt vc avp fred thdo amkr kkd ge saba mton dph stz* cl tpc aaii lz avp fred thdo gis* intu (due to acquisition) axp cag* cnf mot cle ppl vsea bobj mmm apti hlyw gbbk cpki stel rimm* ila bobe ivgn ulab mgam oca atn etr ebay insp talk atac ssft pzza peet dell jill dltr ndn hsy psun naut* * Reported already for the quarter