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Stock futures show gains

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Stock futures are pointing to a higher open for stocks today as S&P futures jump 8 points to 1,097. NASDAQ futures are also higher, posting a 21 point gain to 1,454 and Dow futures are bid higher by 73 points at 9,403.

Fair value for the S&P 500 today is $1.43. HL Camp & Company has their computers set for program buying at $2.52 and set for program selling at $0.48. Fair value for the NASDAQ-100 today is $3.80. For an explanation of fair value and buy/sell program setting, please visit www.programtrading.com

Cisco Systems active prior to earnings

After the close of today's trading, investors will hear from networking giant Cisco Systems (NASDAQ:CSCO) on quarterly earnings. On Friday, shares of CSCO closed lower by 40 cents at $17.26, but are being bid higher this morning at $17.75, helping boost NASDAQ futures higher. In early October, CEO John Chambers said he was "very comfortable" with financial estimates. Estimates by analysts for recent quarterly earnings are for Cisco Systems (CSCO) to earn 2 cents a share (excluding charges and acquisition costs) on revenue of $4.16 billion.

Other stocks active

Advanced Micro Devices (NYSE:AMD) is jumping higher by $1 to $13.25 in Instinet trading as the chipmaker announced its Athlon XP 1900-plus chip would "outperform the competition" by up to 25% on real-world applications, in such applications as digital media, office productivity and 3D gaming. The Athlon XP 1900- plus chip is priced at $269 in 1,000-unit quantities.

Also higher this morning are shares of Juniper (NASDAQ:JNPR) $20.48 (+$1.00), Oracle (NASDAQ:ORCL) $14.45 (+$0.40) and Yahoo! Inc. (NASDAQ:YHOO) $11.30 (+$0.34).

Jeff Bailey
Senior Market Technician
Option Investor

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