An e-mail virus dubbed W32.Nimda is working its way through thousands of computers across the nation. The readme.exe attachment works similar to the recent Code Red worm.
McAfee.com Daily Chart
Perhaps a worm has gotten into McAfee.com's stock (MCAF). The virus scanning software maker's stock has been in trouble since it completed a small double top on August 21st. McAfee tried to consolidate around $12, but that just looks to be the right shoulder of a larger head and shoulders top. With the neckline broken, MCAF looks to be heading for the $10 to $9 area in the short term.
SonicWALL Daily Chart
SonicWall (SNWL), which sells Internet security and anti-virus protection, is doing a little better than McAfee, but not much better. SNWL was up $1.51 at one point today, but has since succumbed to the 200-day moving average. That keeps the stock at the lower end of a descending triangle. Dropping below $15.39 would complete the pattern.
Internet Security Systems Daily Chart
Internet Security Systems (ISSX) products protect company networks from misuse, security violations and other attacks, but it can't protect its own stock from falling. Once the stock lost support at $20, it continued to slide. ISSX may be up 4.98% today, but the only technical support to be found is $8.50, which dates back to October of 1998.
This afternoon, Norm Mineta (Transportation Secretary) held a "Transportation and Airlines News Conference." Many market participants have been anxiously awaiting news from the current administration regarding potential Federal aid. While there was no disclosure of potential aid, Mr. Mineta did say that a panel of industry representatives (corporate executives from the airline group) had recently gathered to discuss financial needs of companies that had been adversely affected by recent events in the U.S. Mr. Mineta noted that the panel discussed many issues regarding past and future costs of insurance that airlines carry pertaining to their liability for air travel customers, fuel costs and other fixed costs that have substantially put pressure on their bottom lines. Mr. Mineta said that he will be submitting some potential estimates to Congress regarding short- term and longer-term financial needs of the industry.