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  Jeff Bailey   7/22/200,  5:28:22 PM
Pivot Matrix for tomorrow posted at this Link

 
 
  Jim Brown   7/22/200,  5:27:39 PM
Final After Hours Earnings Recap
AMZN est +0.06  actual +0.10  beat, raised guidance
AMGN est +0.46 actual +0.45
BRCM est +0.09 actual +0.10 beat
ABGX est -0.38 actual -0.76 includes charges
SEBL est +0.02 actual +0.02
ATVI est +0.00 actual +0.04 beat
SUNW est +0.02 actual +0.01 miss
BSX est +0.30 actual +0.27 miss
CPWR est +0.01 actual +0.06 beat
INVN est +0.67 actual +0.61 miss
STK est +0.24 actual +0.27 beat
MXO est +0.08 actual +0.03 miss
MANH est +0.21 actual +0.21
CAKE est +0.30 actual +0.30
DCLK est +0.01 actual +0.04
ASKJ est +0.07 actual +0.10 beat, raised guidance
CYMI est -0.20 actual -0.15 beat
FISV est +0.39 no announcement
LLTC est +0.20 actual +0.21
WBSN est +0.18 actual +0.18
EFII est +0.15 actual +0.15
TRMS est -0.89 actual -0.84 miss
VTSS est -0.04 actual -0.04
BZH est +2.85 actual +3.01 beat
RYL est +1.80 actual +2.03 beat
ARBA est +0.00 actual -0.01 miss
WLP est +1.39 actual +1.49 beat
COHR est -0.03 actual -0.01 beat
SEBL cutting 450 workers

 
 
  Linda Piazza   7/22/200,  5:22:14 PM
CECO: Career Education, a company that offers post-secondary education, reported earnings per share of 40 cents against expectations of 31 cents, and up from the year-ago 22 cents. After closing at 72.98, CECO currently shows a bid/ask spread of 78.41 x 78.99, although afterhours trading is not always indicative of the next day's trading pattern.

 
 
  Linda Piazza   7/22/200,  5:17:03 PM
LLTC: Linear Technology, which designs, manufacturers, and markets high-performance linear integrated circuits, reported earnings of 21 cents. My information shows an expected EPS of 20 cents. After closing at 35.16, LLTC now shows a bid/ask spread of 35.90 by 36.14.

 
 
  Linda Piazza   7/22/200,  5:12:15 PM
Good afternoon. I'm back from vacation and ready to get back to work tomorrow morning. When searching news sources this afternoon for earnings information, I noticed that U.S. Treasury Secretary John Snow said in a Fox interview that he saw signs that the economy was responding to the tax cuts. He added that the government and retailers were planning cooperatively to ensure that the child tax rebates were spent quickly once they were received. Those rebates are due to be mailed beginning this week. Snow has been vocal this week, earlier commenting that he thought it was reasonable that the Bank of Japan might sell yen to keep the yen low against the dollar, protecting Japanese exporters.

 
 
  Jeff Bailey   7/22/200,  4:32:39 PM
Amgen (AMGN) $68.93 -0.21% Link ... $69.70 after headline number

 
 
  Jeff Bailey   7/22/200,  4:28:41 PM
Beazer Homes (BZH) $80.85 +4.5% Link ... $80.44 after headline number.

 
 
  Jeff Bailey   7/22/200,  4:26:50 PM
Maxtor (MXO) $9.32 +5.6% Link ... $9.32 after headline number.

 
 
  Jeff Bailey   7/22/200,  4:25:51 PM
Storage Tech (STK) $26.59 +0.6% Link ... $26.59 after headline number

 
 
  Jeff Bailey   7/22/200,  4:05:28 PM
Sun Microsystems (SUNW) $4.77 +4.6% Link .... $4.55 on headline number.

 
 
  Jeff Bailey   7/22/200,  4:04:05 PM
Amazon.com (AMZN) $34.87 -1.3% Link ... $36.82 on headline number.

 
 
  Jim Brown   7/22/200,  4:00:10 PM
AMGN raising guidance 5 cents

 
 
  Jeff Bailey   7/22/200,  3:51:18 PM
Avaya (AV) $7.48 +10.4% .... steady build of gains into the close.

 
 
  Jeff Bailey   7/22/200,  3:49:40 PM
QQQ $31.24 +1.23% .... QQQ has found afternoon support at the WEEKLY 61.8% retracement of $31.22 and it is going to be tested again into the 04:15 close. Intra-day traders will note that the "Eiffel Tower" news did see a 5-minute brake below, but QQQ managed to close this $31.22 level. Only indication I'd get of a sell bias on close would be the QQQ closing below this level.

 
 
  James Brown   7/22/200,  3:43:50 PM
Come on, Jon. It's a feel good thing. The bad guys are dead and just maybe we'll get a slow down in the number of attacks on our troops in Iraq if the resistance believes there is no leadership left should the Americans actually leave.

At least let us be optimistic for a couple of hours.

 
 
  Jonathan Levinson   7/22/200,  3:41:34 PM
Put to call ratio .80 for this past half hour.

 
 
  James Brown   7/22/200,  3:39:08 PM
So they've confirmed the deaths of Uday and Qusay but where's the bounce in the market?

 
 
  Jonathan Levinson   7/22/200,  3:38:50 PM
3:39pm CENTCOM SAID SONS KILLED IN 'FIERCE GUN BATTLE'

 
 
  Jonathan Levinson   7/22/200,  3:38:33 PM
3:38pm U.S. SAYS HUSSEIN BROTHERS DIED IN "FIERCE GUN BATTLE"

 
 
  Jeff Bailey   7/22/200,  3:36:47 PM
Commander of Allied Forces confirms Saddam Hussein's sons (Qusay and Uday) were killed in the overnight raid.

 
 
  Jeff Bailey   7/22/200,  3:33:21 PM
QLogic (QLGC) $45.47 -3.7% ... per (13:59:56 note) ... evidently today's weakness can be attributed to to disappointing hard disk drive shipment data released today by Japan-based Fujitsu (a large customer of QLGC). CSFB is saying it believes these results have already been reflected in QLogic's business, as company reported in last week's earnings report.

 
 
  Jeff Bailey   7/22/200,  3:21:45 PM
03:15 update posted at this Link

 
 
  James Brown   7/22/200,  3:08:08 PM
Bob Pisani is not kidding. August crude oil futures dropped significantly today. The decline in oil was picking up speed as the Hussein news gained credibility. The CL03Q contract closed at $29.80, down from $32 just two days ago.

 
 
  Jonathan Levinson   7/22/200,  3:05:44 PM
Put to call ratio up to .81 again, QQV -.93, VX -.57 and VIX -1.04.

 
 
  Jeff Bailey   7/22/200,  2:43:42 PM
Treasuries finding some buying ahead of their 03:00 PM EST close. into their close here. 10-year YIELD ($TNX.X) lower by 1.2 basis points at 4.162%. Not significan, other than Treasuries didn't see another sharp round of selling again today. May calm some jitters near-term regarding mortgage rates.

 
 
  Jonathan Levinson   7/22/200,  2:38:22 PM
Put to call ratio falls to .80, VIX -.95, VXN -.47, QQV -.57.

 
 
  James Brown   7/22/200,  2:32:36 PM
Weyerhaeuser Co - WY - WY is another recent candidate that's been making appearances on the watch list. The trigger point was a breakout over heavy resistance at $55. That breakout is occurring now but we hesitate to trade it with earnings on July 25th (this Friday).

 
 
  James Brown   7/22/200,  2:29:52 PM
General Dynamic - GD - GD was mentioned on the watch list a couple of times when it was basing near $72 and we speculated on a move towards resistance of $80. Well, that move has occurred. The question now is whether the stock can breakthrough the extremely heavy congestion in the $78-$82 level that plagued it for the second half of 2002 or will buyers run out of steam.

 
 
  Jeff Bailey   7/22/200,  2:26:27 PM
Avaya (AV) $7.17 +5.9% .... gets a little "pop" today above its 21-day SMA. Not sure if you candlestickers out there see something in the chart, but wasn't yesterday some kind of "hammer?" Link

Stochs turning up from "oversold," but would like to see MACD cross above its signal.

 
 
  James Brown   7/22/200,  2:23:19 PM
American Intl Group Inc. - AIG - Here's another one that might be worth watching. Shares have squeaked above resistance at the $60 level but the company is set to announce its earnings on Thursday morning before the bell.

 
 
  James Brown   7/22/200,  2:21:09 PM
Amgen - AMGN - Don't forget. The nearly unstoppable biotech bull, which has been in a steady up trend since its November 2002 lows, will be announcing earnings after the bell today. Estimates are for 46 cents a share. Shares are currently near the top of its rising channel and could easily see a "sell the news" reaction.

 
 
  Jeff Bailey   7/22/200,  2:08:37 PM
Dow Industrials (INDU) 9,037 +0.57% ... see e-mail from subscriber about head/shoulder top on 5-minute chart for Dow. This was "in play" before Iraq news. Will note how "right shoulder" when broken to the upside at 9,116 served support on recent "Eiffel tower" pullback. May have found some short-term bears below that level bidding after break back higher.

 
 
  James Brown   7/22/200,  2:06:37 PM
Apollo Group - APOL - School & education stocks have been strong for months. Now it appears that shares of APOL have been hit with profit taking and shares are perched at support of $60.00 and its simple 50-dma. What makes this an interesting story is the recent news that the FBI was investigating University of Phoenix, a subsidiary of APOL, about stolen passwords and trade secrets.

 
 
  Jonathan Levinson   7/22/200,  2:06:01 PM
The put to call ratio is down to .81, still too high for bears' comfort. Treasury yields are off their highs as well, with money flowing weakly into bonds. I see bullishness in treasuries as being bullish for stocks, following my thesis that the market is currenly liquidity driven.

 
 
  Jeff Bailey   7/22/200,  1:59:56 PM
QLogic (QLGC) $45.94 -2.7% ... trade at $46.00 is triple-bottom break. Link Vulnerable to $44 here. Break comes on volume of 300,000 shares in last 5-minutes.

 
 
  James Brown   7/22/200,  1:52:38 PM
Ah.. so that's how they do it. Thanks, Jeff.

 
 
  Jeff Bailey   7/22/200,  1:47:50 PM
Per James' 13:42:52 ... take a retracement from 0 to 2 (no sons, to 2 sons), put the retracement inside a stone house in northern Iraq, then set U.S. troops loose on it.

 
 
  Jonathan Levinson   7/22/200,  1:45:58 PM
The put to call ratio is down to .84 now, QQV -.77, VXN -.16 and VIX -.66.

 
 
  James Brown   7/22/200,  1:42:52 PM
U.S. is now 90%-95% sure that it is Saddam's sons (up from 80%). Wonder how they figure out that percentage?

 
 
  Jeff Bailey   7/22/200,  1:35:58 PM
CNBC reporting that top floor of the Eiffel Tower is on fire. SPX drops from 985.47 to 982.81 on this report.

 
 
  Jeff Bailey   7/22/200,  1:27:47 PM
01:00 Update posted at this Link

 
 
  Jonathan Levinson   7/22/200,  1:14:13 PM
NEW YORK -(Dow Jones)- Senior U.S. defense officials say there will be "some sort" of announcement by the U.S. some time Tuesday following reports that Saddam Hussein's sons may have been killed in Iraq, Fox News reports. A correspondent at the Pentagon reported that the announcement could be at the Pentagon or at Central Command and it wasn't known if it would be a briefing or just a written statement. The Fox correspondent also reported that officials were hourly becoming more confident that Saddam's sons were killed in the raid around Mosul.

 
 
  James Brown   7/22/200,  1:12:01 PM
United Technology - UTX - This is one Dow component that is taking advantage of bullish sentiment in the markets today. Shares have rallied nearly 3% and broke out above overhead resistance in the $74.50-$75.00 region. MACD has turned bullish and its other momentum oscillators are positive. This might be a candidate for a new call play.

 
 
  James Brown   7/22/200,  1:07:53 PM
Harman Intl Industries - HAR - Dip buyers have been active and took the opportunity to buy shares of HAR at its 30-dma and support at $78.00 the previous three sessions. We had previously tried to play HAR in its rising channel but the breakdown through the bottom border of its channel a few days ago stopped us out. Now HAR has bounced back into the rising channel and back above the $80.00 level. Bullish traders may want to keep an eye on it for potential entries.

 
 
  Jonathan Levinson   7/22/200,  1:06:44 PM
Put to call ratio down to .86 now, falling very slowly. VIX -.77, VXN -.17 and QQV -.39.

 
 
  James Brown   7/22/200,  12:54:32 PM
Sector Winners & Losers

The markets are mostly green today but leading the charge are:
NWX.X networking index: +3.67%
SOX.X semiconductors: +2.84%
XAL.X airlines index: +2.12%

Losing sectors:
OSX.X oil services index: -1.63%
DRG.X drug index: -0.06%

 
 
  Jonathan Levinson   7/22/200,  12:39:10 PM
The put to call ratio drops to .88.

 
 
  Ray Cummins   7/22/200,  12:39:07 PM
Spreads/Combos & Premium-Selling -- E-mail Replies

(condensed) Ray...In your last note, you mentioned the use of a loss-limiting mechanism such as a stop order in exiting the short option in a credit spread. Were you referring to a stop or stop limit order? JC

Hello Again JC, A "stop" order is an order to buy or sell option contracts when the market for a particular contract reaches a specified price, called the stop price. A stop order to buy becomes a market order when the option contract trades or is bid at or above the stop price. A stop order to sell becomes a market order when the contract trades or is offered at or below the stop price.

In contrast, a stop-limit order is an order to buy or sell option contracts at a specified price or better, after a given stop price has been reached or exceeded. A stop-limit order to buy becomes a limit order when the option contract trades or is bid at or above the stop-limit price. A stop-limit order to sell becomes a limit order when the contract trades or is offered at or below the stop-limit price. An option stop-limit order is a combination of a stop order and a limit order, so stop-limit orders that have been triggered and converted into limit orders will execute if the option is thereafter offered at or below the ask price for buy orders or at or above the bid price for sell orders. As you can see, a stop-limit order would not be as effective as a simple "stop" order for exiting positions. Hope that helps!

 
 
  Ray Cummins   7/22/200,  12:27:49 PM
Spreads/Combos & Premium-Selling -- Portfolio Activity

The market started slow today but the bulls appear to be finally gaining the upper hand after Monday's rout. Among the active issues in the portfolio, Genzyme (NASDAQ:GENZ), j2 Communications (NASDAQ:JCOM), Electronics Boutique (NASDAQ:ELBO), and Netflix (NASDAQ:NFLX) are leading the technology group while Ingersoll-Rand (NYSE:IR) is spearheading the rebound in industrial issues. IR is coming off a recent rally that has propelled the stock over 10% higher during the past week and the upside activity helped traders in the bullish calendar spread achieve favorable profits in less than one month. Another stock that is trading substantially higher today is Lexmark (NYSE:LXK), but the activity is of little benefit to investors since the issue fell over $13 during Monday's session. Our bearish position in the stock this week-end was timely, however the gap down at the open (yesterday) did not allow a favorable entry in the play.

 
 
  Jeff Bailey   7/22/200,  12:19:40 PM
Lucent (LU) $1.82 +5.8% ... said it signed a $1 billion contract with Sprint (FON) $14.98 +2.25%.

 
 
  Jonathan Levinson   7/22/200,  12:12:41 PM
The put to call ratio has lurched up to .96 as traders pile onto the bounce with options.

 
 
  James Brown   7/22/200,  12:04:17 PM
Thankfully there were no casualties on the American side.

 
 
  James Brown   7/22/200,  12:02:36 PM
Jeff, it sounds like the main building (2-story house) is still standing. Fox news is standing in front of the main target now.

 
 
  Jeff Bailey   7/22/200,  11:58:14 AM
Saddam Hussein's Sons don't expect answer today. News reports Link are that building burnt to the ground.

 
 
  James Brown   7/22/200,  11:56:21 AM
Sepracor - SEPR - Shares of SEPR reacting strongly to its earnings announcement. Estimates had been for a loss of 60-cents a share. The company turns in a narrower net loss of just 40-cents a share, a huge improvement over last year's loss of $1.12 a share. SEPR's revenues jumped almost 60% to more than $76 million, bypassing sales estimates of $67.50 million. The stock is currently up 14% and trading above its simple 50-dma. Volume is strong at 2.6 million shares.

 
 
  Jeff Bailey   7/22/200,  11:54:23 AM
August Light, Sweet Crude futures (cl03q) I'm 30-minute delayed quote on futures, but noting this contract trades $31.20 -1.82%. Has been finding $32 resistance since mid-March.

 
 
  Jeff Bailey   7/22/200,  11:51:15 AM
NBC news reporting senior U.S. military official says there is an 80% chance that 2 of Saddam Hussein's sons were killed in overnight raid.

 
 
  Jeff Bailey   7/22/200,  11:48:02 AM
Airline Index (XAL.X) 53.79 +2% ... perhaps biggest benefactor of "Hussein news". Alaska Air (ALK) $23.85 +4.87% has been strong since reporting earnings before the bell that beat estimates.

ALK said it earned $0.03 per share in recent quarter, which excluded the one-time gain from compensation received under the Emergency Wartime Supplemental Appropriations Act. The $0.03 gain was well above the -$0.34 loss forecasted by analysts. Link

 
 
  Jeff Bailey   7/22/200,  11:40:45 AM
Speculation that 2 of Saddam Hussein's sons may have been killed in overnight raid in Iraq. This most likely has stocks at best levels of the session.

Dow has gained roughly 50-points since news hit wires and trades 9,116 +0.21%.

 
 
  Jonathan Levinson   7/22/200,  11:36:23 AM
The put to call ratio is .78 for this past half hour, QQV -.6, VIX -.51 and VXN +.21.

 
 
  James Brown   7/22/200,  11:32:31 AM
Wellpoint Health Network - WLP - Shares of WLP still look like a tempting short play. Last week I posted a chart outlining the head-and-shoulders pattern and its broken neckline. The stock has bounced back to retest the neckline, this time as overhead resistance and it failed. However, before you consider a position keep in mind that the company announces earnings after the bell tonight. Estimates are for $1.39 a share.

 
 
  Jeff Bailey   7/22/200,  11:31:05 AM
3M (MMM) $137.00 +0.37% ... 52-week and all time high here. Bullish and can play long with stop just below $135 target $150. Link

Needs a trade at $138 to get back on a buy signal. Trade at $138 would create initial bullish vertical count of $166.

 
 
  Jeff Bailey   7/22/200,  11:27:26 AM
11:00 Update posted at this Link

 
 
  James Brown   7/22/200,  11:24:16 AM
Lexmark Intl - LXK - The dead-cat bounce is underway for LXK. Shares are up 6.5% after Soundview picks the low hanging fruit and upgrades the stock to "outperform" on its (new) valuation.

Sanford Bernstein also upped LXK to an "outperform" this morning.

 
 
  James Brown   7/22/200,  11:22:09 AM
Even a split may not save EBAY from some hefty profit taking. The stock is up in an almost non-stop rally from its early October 2002 levels near $50.00. It is way overdue here at $110; of course there is probably a trail of bloody bears that've been saying the same thing trying to short it all the way up.

 
 
  Mark Phillips   7/22/200,  11:17:53 AM
I won't take that bet on EBAY James, but I'll give you a different one...if the company DOESN'T announce that split, I'd look for investors to take a pound of flesh out of the stock price.

 
 
  James Brown   7/22/200,  11:14:23 AM
Quest Diagnostic - DGX - This is yet another example why investors should strongly consider NOT holding over an earnings announcement. DGX beat estimates by 2 cents but guidance was a slightly negative going forward. Shares gapped down about five points and the stock is currently minus 8%. Bears should take note too. It can happen in reverse, just not quite as often.

 
 
  Jonathan Levinson   7/22/200,  11:14:04 AM
The put to call ratio reached .81 for the past half hour, all volatility indices lightly in the red. Treasury yields are up. FVX +1.3, TNX +2.6 and TYX +3.3 as selling in bonds resumes.

 
 
  James Brown   7/22/200,  11:07:42 AM
Anyone willing to bet me lunch that EBAY announces a stock split with their earnings on Thursday?

How about PCAR? (on Thursday)

 
 
  Mark Phillips   7/22/200,  11:04:03 AM
LOW $46.55 (+0.05) Once again showing its relative strength, shares of LOW snapped back from an early dip to just below $45, and are right back at the $46.50 zone that has been a price magnet ever since the breakout over that level. Given the weakness today in rival HD, the fact that LOW is holding onto positive territory (however slim the margin) is a good sign. Based on this morning's early action, our expectation of strong support in the $45.25-45.75 area seems to have been confirmed. Successive dips into this area look like very good entry points.

 
 
  James Brown   7/22/200,  11:04:02 AM
Overseas Exchange Update

Japan's NIKKEI Index: 9485, -41.76
Hong Kong Hand Seng: 10,008, -94.15

France's CAC 40: 3081, +0.06
Germany's DAX: 3291, +4.82
Britain's FTSE: 4067, +23.10

 
 
  James Brown   7/22/200,  10:59:55 AM
We're seeing a small bounce in the chip sector today. I realize Jeff mentioned them earlier this morning but it's encouraging (for a bull) to see the bounce in the $SOX up off its simple 50-dma. The move if fueled by TXN's strong announcement last night. (TXN is currently up 6.5%). Also announcing last night was Altera (ALTR -2%), and Novellus (NVLS +2.95%).

 
 
  Mark Phillips   7/22/200,  10:58:47 AM
LEH $63.60 (-0.90) Just a few minutes ago, LEH broke below the $63.50 level and looked like it was going to give us the breakdown we wanted, but the XBD index clinging to the $550 support level by its fingernails appears to be giving shares of LEH the support needed to hang on a bit longer. The rebound failures just below $66 could have been used for aggressive entries over the past couple days and the next foray to new lows (below $63.10) will be the next setup allowing for momentum entries to the downside.

 
 
  Mark Phillips   7/22/200,  10:52:34 AM
HD $31.55 (-0.60) Our HD play is finally starting to perform here. First the 50-dma gave way yesterday and today, the stock is breaking below the $31.58 level, which was the intraday low on 6/23. That technical breakdown seemed to come with some conviction as well, with the first hour's volume tally coming in just shy of 3 million shares or roughly 1/3 of the ADV. Now that support appears to be giving way, our next target is for a drop to the $30 level, which should provide enough support for at least a short-term bounce. Conservative traders in the play from higher levels may want to harvest partial gains when that level is traded. At this point, it should be safe to lower stops to $34, as we'll do in tonight's update.

 
 
  Jeff Bailey   7/22/200,  10:52:03 AM
Treasuries have been either side of unchanged, but seeing some sell side influence here. 10-year YIELD ($TNX.X) high by 2.4 basis points to 4.18%.

Dow Jones Home Construction (DJUSHB) 412.88 -0.34% fractionally red.

S&P 500 Index (SPX.X) 976.13 -0.27% also fractions red.

 
 
  Mark Phillips   7/22/200,  10:43:25 AM
FNM $63.40 (-1.92) Weakness in FRE is bleeding over to FNM this morning and the stock is plunging below the $65 support level. This is the first foray under that level since early April and is a bad omen for the mortgage-related sector of the market. Today's drop generates a new PnF Sell signal and gives FNM a new bearish price target of $55. Should that level be reached, it would represent the stock's lowest price since September 2000.

 
 
  Jeff Bailey   7/22/200,  10:40:34 AM
Centex (CTX) $72.00 +0.33% .... company was scheduled to report quarterly earnings after yesterday's close. Reports this morning that quarterly earnings were $2.26 per share (ex-items), which was above consensus estimates of $1.84. Revenues were $2.32 billion, with consensus at $2.06 billion.

Forward guidance had CTX raising 2004 EPS estimates to $10.25-$10.75 per share, above consensus of $10.05.

The company also said it would spin off Centex Construction Products (NYSE:CXP) $39.55 +3.34% to shareholders (still owns a 64.9% stake in Centex Construction), with CTX estimating its shareholders will receive 0.19 CXP shares as part of the spin-off, which would yield a value of $7.40 a share, or $458 million total, for the distribution.

 
 
  Jonathan Levinson   7/22/200,  10:36:23 AM
Put to call ratio rises to .75 for this past half hour, VIX +.03, VXN -.1 and QQV -.02.

 
 
  Jeff Bailey   7/22/200,  10:25:12 AM
Freddie Mac (FRE) $50.35 -2% .... reports circulating today that internal probe at FRE may have used swap transactions in 2000 and 2001 to push profits into future years and done without the knowledge of its accountant Arthur Andersen. Some speculate this could be what let to FRE's Board firing Davide Glenn.

 
 
  Jeff Bailey   7/22/200,  10:18:48 AM
Dow Industrials (INDU) 9,066 -0.33% ... Breadth slightly negative at 16:14 with EK -3.11% and MRK -2.6% early weakness. SBC +2.33% got hit lower yesterday and looks to gain back some of yesterday's losses. Not all that positive to see SBC weakness leading gains.

 
 
  Jim Brown   7/22/200,  10:12:43 AM
Nasdaq 1700 just out of reach. Surprised that the Dow is so negative with the Naz +15. Sure looks like we are about to see another leg down and 9050 will be the key level for the morning. The initial bounce was at 9064 and any retest will be critical. This is the week for July declines and so far everything is following the historical trend.

 
 
  Jeff Bailey   7/22/200,  10:09:26 AM
Lehman upgrades Integrated Circuit makers on belief there will be strong unit growth in the second-half of the year, declining inventory levels and strong demand in Asia after SARS fears subside, new introduction of handset models in second half, reasonable valuations and segment has under performed broader Semiconductor segment. Lehman upgraded TXN to "overweight" from "underweight," SWKS and RFMD to "overweight" from "equal weight," and ANAD and TQNT to "equal weight" from "underweight."

 
 
  Jonathan Levinson   7/22/200,  10:05:49 AM
The put to call ratio is .57 for the first 1/2 hour, with a low equity pcr of .49.

 
 
  Jonathan Levinson   7/22/200,  10:04:54 AM
Announcement that the fed is taking no action today.

 
 
  Jim Brown   7/22/200,  9:45:02 AM
There was a network problem this morning, which prevented the Market Monitor from being updated. We apologize for the inconvenience.

 
 
  Jeff Bailey   7/21/200,  5:01:59 PM
Pivot Matrix for tomorrow posted at this Link

 
 
  Jim Brown   7/21/200,  4:46:09 PM
The Market Monitor has been archived. You may view it and any previous days here: Link

Disclaimer: Stocks discussed in the Market Monitor are for educational purposes only and any analysis is not meant to imply a recommendation for or against that stock. The analysts in this forum as on any other website are prohibited by the SEC from giving any specific advice to ANY individual trader. All information posted is for ALL readers and is not meant to be directed to any individual. Our analysts cannot answer any email questions regarding any specific stock. Please do not ask and please do not take offense if requests are denied.

Results posted in the Market Monitor are hypothetical and OIN does not claim that any reader achieved these exact results. Due to the lag time between research, writing, posting, uploading, reading and execution there will be differences between the actual signal given and the fill achieved by the reader. Fills may be better or worse but in many cases they will be different. The writers will make every effort to give advance notice of intended signals and indicate potential price targets. Your individual results may vary depending on your activity level and aggressiveness. This forum is intended as an education service only. Trading involves risk and should not be attempted by anyone not ready to accept this risk. By acting on any signal in this forum you agree and personally accept this risk.

 
 

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