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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (18072)	9/3/2003 11:59:17 PM
From: stockman_scott	Respond to of 57684

Techs hit 17-month high after upgrades ______________________________ BY AMY BALDWIN The Chicago Sun-Times September 3, 2003 NEW YORK--The Nasdaq composite index soared to a 17-month high Tuesday following a string of upgrades of such tech heavyweights as IBM and Dell. The buying intensified late in the day and spread across the market, sending the Dow Jones industrials up more than 100 points in the final hour of trading. Analysts attributed the rally--which also lifted the Dow and Standard & Poor's 500 to new 14-month closing highs--to momentum and increasing optimism. ''The technical (investor) types are jumping on board, because the market averages are making new highs,'' said Larry Wachtel, market analyst at Prudential Securities. For much of the day, the market moved unsteadily, rising initially but then dipping lower before recovering in the afternoon. Analysts blamed the market's meandering on the fact that stocks have been rallying for nearly six months, trading well above the lows they hit in mid-March. ''The market anticipated most of that (positive data) earlier in the year,'' said Matt Brown, head of equity management at Wilmington Trust. Shaking off an early loss of 6.15, the Nasdaq jumped 31.03, or 1.7 percent, to 1,841.48, its fifth straight gain. The Nasdaq hasn't seen a higher closing level since April 1, 2002, when it finished at 1,862.62. The Dow rose 107.45, or 1.1 percent, at 9,523.27, its highest closing level since June 19, 2002, when the blue-chip average stood at 9,561.57. The S&P 500 advanced 13.98, or 1.4 percent, to 1,021.99. The last time the S&P stood higher at the end of the day was June 18, 2002, when it was at 1,037.14. The Dow's biggest winner was IBM, which soared $3.75 to $85.76 after Goldman Sachs upgraded computer hardware stocks. Dell, included in that upgrade, rose 97 cents to $33.59. Goldman Sachs also raised its rating on software makers, which lifted Microsoft by 74 cents to $27.26 and PeopleSoft by 62 cents to $18.67. The upgrades appeared to offset some early selling on doubts created by a mixed economic report. The Institute for Supply Management reported that its index tracking activity in the manufacturing sector rose in August for the second consecutive month. But the incremental improvement got a lukewarm reception from investors. Wall Street was also unhappy with a poor showing in the report for employment in the manufacturing sector, which suggests that a recovery in that key area of the economy may be some ways off. Analysts cautioned against reading too much into Tuesday's rally, noting that it was on light trading volume and was driven more by momentum than improving economic fundamentals, especially where tech was concerned. ''Tech sometimes has a life of its own on a momentum basis,'' Brown said. ''As that happens you need to watch valuations.'' suntimes.com

To: Lizzie Tudor who wrote (18072)	9/4/2003 2:40:41 AM
From: Tom Kearney	Read Replies (1) \| Respond to of 57684

Hi, Lizzie - You mentioned on another thread that you know very experienced DBAs that haven't been able to find a job in two years. Seriously, if one of them will come to LA, I know a significant DBA (senior Oracle DBA) position at a major hospital, that they haven't been able to be fill in 3 years (to replace me actually, when I went into consulting exclusively). Now, it is a bit of a tough environment, (they're seriously understaffed) but if they really have the credentials they can start at 6 figures (much better than the Gap position). And they can go up from there. This client is doing a lot of advanced stuff (just implemented RAC; using lots of wireless database communications in the hospital wards, etc). Send me a PM and I can give more details. In another issue - not bragging; not saying things aren't bad; not saying I don't worry; but I am billing 55-60 hours a week (all I have the energy for), and one of my clients complains I don't put in enuff time. In my case, I primarily work with smallish clients, who are sometimes reluctant to use new techniques (sometimes techniques that were new 5 years ago). So, it can be frustrating and a lot of hand holding. I think part of what we see is that organizations, at least medium sized organizations, are still absorbing lots of new software tools. Perhaps some SV people maybe could go into the heartland and help organizations use some of the new tools, now. I see lot's of jobs in Iowa, Alabama, and places like that on Dice. If my current gigs die, I'll be looking at those. Of course it's tough on the families and the like, but people went to SV when things were hot. So I think there has to be an ebb and flow. Just trying to present another perspective. The DBA is positions is completely serious, tho. Regards, Tom