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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Northern Cougar who wrote (33945)	4/14/1999 10:19:00 PM
From: kha vu	Respond to of 120523

INTC and the market: Charts and Text are at: investorlinks.com <<<<<<<<<<<<<<< Market Update - After several days of gains, short-term technical indicators are overbought for Dow, which could lead to some profit taking. U.S. stocks closed mixed as gains in Dow Industrials were offset by losses in NASDAQ Composite. Technology stocks declined in anticipation of "so-so" earnings from Intel. After the market close, Intel reported earnings per share of 57-cents, 2-cents above expectation but revenues came slightly below estimates. Technology stocks could come under profit taking led by Intel. Dow opened higher following through from yesterday's strong finish. Dow rose almost 80 points by 11 a.m. and then sold off, which pared all its gain. After dipping into negative territory for a short period of time, Dow made a steady recovery all the way to the close and registered a gain of 55.5 points to 10395.01. Strength in cyclical stocks provided support to Dow, which closed at yet another record high. American Express, Caterpillar, General Motors and Hewlett-Packard led Dow higher, each with a gain of 2-points or more. Volume was virtually unchanged at 808 million shares on the Big Board with up volume exceeding down volume by a slight margin and breadth was almost unchanged as well. Dow opened higher as strength in cyclical stocks provided a boost to the index. Caterpillar rose 3 5/8 to 54 3/4 and was the biggest point size gainer while International Paper rose 2 1/4 to 48 5/8 after reporting earnings per share of 14-cents, 5-cents above expectation. After several days of gain, short-term technical indicators have reached an overbought situation for Dow and some profit taking is expected. Near-term support for Dow is at 10100 and than at 10,000. Technology stocks rose early in the session, but gave back all its gain in the afternoon, as investors were cautious ahead of Intel's earnings. Intel reported earnings after the close and revenues came in below expectation. Revenues during the March quarter came in at $7.1 billion versus expectation of $7.4 billion. Shares reacted negatively in after hour trading, which could lead to profit taking in NASDAQ. While NASDAQ managed to overcome its losses after Compaq pre-announced shortfall, this time, we could see some profit taking. On a near-term basis, we expect NASDAQ to test 2510-2515, which the index tested on two occasions over the past few sessions. A close below that level would project a target to 2475, site of its 25-day moving average. Any pullback at this time would be in the context of its uptrend and no technical damage would be done as long as NASDAQ stays above those levels. As expected, Russell added 4-points on top of yesterday's gain. It's very encouraging to see small-cap stocks attracting buyers - something we haven't seen in a long time. This bodes well for the overall market.>>>>>>>>