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  Jeff Bailey   3/30/200,  5:39:34 PM
Pivot Matrix for tomorrow at this Link

  Jeff Bailey   3/30/200,  4:53:15 PM
Closing Internals at this Link

  Jeff Bailey   3/30/200,  3:52:06 PM
Late reversal of gains in the Gold Bugs ($HUI.X) 235.23 +1.45% in last 35-minutes.

GLG $17.60 -0.95%, GG $14.59 -0.95%, MDG $12.13 -0.57%

  Linda Piazza   3/30/200,  3:50:41 PM
The OEX is pulling back, although only slightly, from the possible neckline of an inverse H&S. Among the SPX, Wilshire 5000, Russell 2000, COMPX, NDX, and Dow, it's the only index that has not pulled above its 120-minute 130-pma. Many of those others are now hesitating, turning down again after breaking above that average. Those long those indices would want to see them hold above the 120-minute 100/130-pma's on any pullback and retest. Those in bearish OEX plays will want to see the OEX roll down beneath the 120-minute 100-pma, now at 551.35, as a first sign of possible weakness to come. So far, the OEX still follows the possible inverse H&S scenario, but the action on the other indices hints that scenario is one in danger.

  Jeff Bailey   3/30/200,  3:50:04 PM
Bullish day trade exit alert ... INTC $27.40 .... 9-minutes to close.

  Jeff Bailey   3/30/200,  3:47:58 PM
Qualcomm (QCOM) ... $65.69 +0.09% ...

  Jeff Bailey   3/30/200,  3:46:47 PM
Biogen Idec (BIIB) $55.89 -0.05% ...

  Jeff Bailey   3/30/200,  3:45:39 PM
Cisco Systems (CSCO) ... $23.92 +0.25% ...

  Jeff Bailey   3/30/200,  3:45:08 PM
Amgen (AMGN) $58.99 -0.9% ....

  Jeff Bailey   3/30/200,  3:44:39 PM
Microsoft (MSFT) ... $25.13 -0.71% ...

  Linda Piazza   3/30/200,  3:44:05 PM
Here's what I see on KO's daily chart: Link KO remains inside the neutral triangle, a space I wouldn't suggest trading one direction or another, as stocks and indices sometimes begin moving erratically as they near the apex of such triangles. Wait for a breakout, but be aware of the possibility of a fake-out move, as happened in February. Be ready to exit the play if the action shows you that the supposition upon which you entered the play is wrong.

  Jeff Bailey   3/30/200,  3:41:55 PM
Bullish day trade clos out alert ... Intel (INTC) on a trade back higher at $27.40, otherwise, raise stop to $27.30.

Less than impressed at this point.

  James Brown   3/30/200,  3:40:54 PM
...Hmm... given the current trend I'd probably expect Dow component MCD to test resistance at $30.00 in the next few days.

  James Brown   3/30/200,  3:36:22 PM
Another bullish Dow component would be 3M (MMM). The stock is giving investors some follow through on last week's breakout over the $80 level. While there does appear to be some overhead resistance at $82 and $83 this looks tempting for a run toward the $85-86 region.

  James Brown   3/30/200,  3:33:52 PM
There is still some mid-March resistance at $107.00 but Dow component Procter & Gamble (PG) is up $1.02 to $105.90. This pushes the stock through short-term resistance at $105 where it failed multiple times over the last two weeks.

  James Brown   3/30/200,  3:27:04 PM
Bullish entry point on Ross Stores (ROST). The stock is breakout out above resistance at $30.00, which is a nice follow through to last week's move over its 50-dma. MACD is in a new buy signal. Just watch out for resistance at the top and bottom of the early March gap down.

  Linda Piazza   3/30/200,  3:25:20 PM
Here's the OEX chart with the hypothetical inverse H&S against which I've been measuring OEX movements: Link The OEX tests the neckline now. Other indices broke out above similar possible neckline areas, perhaps suggesting that the OEX will, too. If it's going to follow the trajectory I mapped out in order to watch the OEX movements, it needs to do roll down soon. Otherwise, we'll be discarding that possible scenario, and going for the "breakout over 553" one I mentioned earlier this morning.

  Jeff Bailey   3/30/200,  3:24:29 PM
Caterpillar (CAT) $80.00

  James Brown   3/30/200,  3:23:13 PM
Is the breakout for real this time? Juniper Networks (JNPR) is up 1.41% and breaking out over technical resistance at its simple 50-dma in addition to hitting a new relative high.

  Jeff Bailey   3/30/200,  3:22:39 PM
NASDAQ Composite (COMPX) 1,999.57 +0.35% .... approaching 2,000.00.

  James Brown   3/30/200,  3:20:15 PM
Just an observation but Apple Computer (AAPL) is bouncing off its intraday lows and is approaching resistance at the $28.00-28.15 range. A breakout would be new 3-year highs.

  Linda Piazza   3/30/200,  3:20:02 PM
Upper Keltner band resistance on the OEX is at 552.70 currently.

  James Brown   3/30/200,  3:15:35 PM
Once again EBAY is approaching resistance at the $70.00 mark. Will it be able to produce a true breakout this time?

On a side note I just read that Best Buy Co (BBY) has opened up its presence on EBAY to clear out excess inventory.

  Linda Piazza   3/30/200,  3:15:16 PM
Here's a shot of the Wilshire 5000 as it pushes above the 120-minute 100/130-pma's and above the supposed neckline of what might have been an inverse H&S, if the Wilshire hadn't decided instead to break through the supposed neckline: Link The OEX has been lagging some of these other indices in pushing past analogous resistance, perhaps partly because of the BIX's action? The OEX, then, is not the currently strongest of these indices. Unless one believes that the OEX will play catch-up, it may not be the best of the indices upon which to base a long.

  Jeff Bailey   3/30/200,  3:13:32 PM
03:00 Internals at this Link

  Jeff Bailey   3/30/200,  3:12:32 PM
Dow Jones U.S. Steel Index (DJUSST) 104.09 +3.17% ... firm break above a potential h/s top. Recent highs of 107.36 in play.

  Jeff Bailey   3/30/200,  3:01:03 PM
QQQ $35.80 +0.02% ... back at MONTHLY S1

  Linda Piazza   3/30/200,  3:00:56 PM
The BIX still lags some of the other indices, in that it hasn't yet risen high enough to test its 120-minute 100-pma, currently just above at 348.75. It also hasn't risen to what might have been a neckline area of a possible inverse H&S, perhaps just below 350. It needs to get in gear if the OEX is to be able to push above that 552-553 resistance.

  Jeff Bailey   3/30/200,  2:59:57 PM
Bond's closed... let's see what the last hour holds for stocks.

  Jeff Bailey   3/30/200,  2:59:17 PM
Disk Drive Index (DDX.X) ... 123.74 +1.07% ... a struggle.

  Jeff Bailey   3/30/200,  2:57:19 PM
Semiconductor Index (SOX.X) 484.73 -0.58% ... afternoon high.

Doing it without Intel (INTC) $27.34 -1.26% at this point.

  Linda Piazza   3/30/200,  2:56:19 PM
While the OEX is challenging its 120-minute 100-pma, the Wilshire and Dow have been finding support at theirs and have been rising to test the 130-pma, with the Wilshire 5000 having moved above both averages now. The Russell 2000 actually moved above those averages yesterday morning, so perhaps we were getting ample warning that the OEX might do so, too, perhaps negating the possibility of an inverse H&S forming. The SPX is now testing its 130-pma, with candle shadows spiking above it but with the candle bodies forming below it. The COMPX and NDX also now test that average. The 120-minute oscillators aren't yet showing any strength on either the OEX or the Wilshire, however, so I'd keep a watch, particularly on the Wilshire, for a fall back below 11,000 and then below the 120-minute 100/130-pma's, currently at 10,967.75 and 10,980.64, as signs of a potential rollover after a test of those averages. At this point, I could make a viable argument for an entry either direction, so if you're inclined to enter long thinking a breakout is imminent or short thinking a rollover is, be sure to set a stop so that you'll be taken out quickly in case you're wrong.

  Jeff Bailey   3/30/200,  2:56:03 PM
echo Jim ... 14:53:45

  Jeff Bailey   3/30/200,  2:49:49 PM
Day trade long alert ... Intel (INTC) $27.33 here, stop $27.20, target $27.60.

  Linda Piazza   3/30/200,  2:45:32 PM
There goes TASR--climbing ever higher, toward the $80-81.50 range depicted as the upside target on the fitted retracement bracket I've been featuring over the last few weeks. Bearish divergence continues to show up in the form of decreasing volume on the breakout, rather than increasing volume as should be found, but that's not helping the shorts who might have been holding on, is it? That's why we watch for these divergences to warn us, especially those who might be in long plays, but not as market-timing tools. As I believe Jeff may have mentioned, too, the decreased volume in this case may be at least partly due to the newly available options. However, TASR's climb today is in the form that sometimes represents a potential reversal signal, forming just beneath that possible $80.00 resistance, so perhaps shorts will finally get some relief. Don't use that potential reversal signal, that hypothetical upside target, or the bearish divergence in the volume as a sign to hold a bearish position past your stop, however. TASR has printed other reversal patterns and then just continued to climb and climb and climb.

  Jeff Bailey   3/30/200,  2:44:51 PM
QQQ on 5-minute intervals chart, 21, 50 and 200 all confluencing around $35.70.

QQQ above at $35.75. This can bring in some technical buying.

  Jim Brown   3/30/200,  2:44:05 PM
I am with you Jeff. It feels like we are about to move higher. Nothing to base it on but just a feeling.

  Jeff Bailey   3/30/200,  2:42:14 PM
Just feels like a bid coming in ....

  Jeff Bailey   3/30/200,  2:38:36 PM
Disk Drive Index (DDX.X) 123.65 +1.00% ... edges to a sesion high, and above yesterday's highs.

ADPT $8.67 +3.21%, FLSH $20.00 +1.83%, MXO $8.19 +1.73%, STK $28.34 +1.57%

  Jeff Bailey   3/30/200,  2:36:08 PM
NYSE and NASDAQ NH/NL table at this Link

I plugged in today's 02:00 NH/NL indications.

  James Brown   3/30/200,  2:33:50 PM
Sector Update...

OSX oil services: +2.65%
OIX oil index: +1.90%
XAU gold & silver: +1.44%
DJUSHB homebuilders: +1.38%
XNG natural gas: +1.30%

XAL airlines: -1.20%
SOX semiconductors: -1.08%
DRG drug index: -0.49%
BTK biotechs: -0.39%
GSO software: -0.31%

  Linda Piazza   3/30/200,  2:30:11 PM
Here's what's happening with the OEX with respect to the 120-minute 100/130-pma's: Link Note the significance of these averages over the last six weeks. On the 120-minute chart, MACD is close to a bearish cross, but from above signal, while momentum, RSI, and CCI have all flattened. There's not a strong clue from all of that as to which direction the OEX will head.

  Jeff Bailey   3/30/200,  2:29:41 PM
S&P Banks (BIX.X) 347.27 +0.02% ... like just about everthing else, very narrow range today. Session low was 346.37, and held WEEKLY R1 of 346.20.

S&P 100 (OEX.X) 550.69 +0.04% ... did see brief pierce of WEEKLY R1 (549.93) with session low of 548.91, where session low matched yesterday afternoon's lows.

  Jeff Bailey   3/30/200,  2:24:27 PM
Novellus Systems (NVLS) 31.32 +0.51% ... percentage gainer for the SOX.X 482.42 -1.05%

  Linda Piazza   3/30/200,  2:21:57 PM
The TRAN had a try at breaking above the descending trendline that's held over the last couple of months, but it's back just below that trendline as I type. It's still within a testing zone, however, but I do note that the 72-ema I've been watching is snaking along that descending trendline, and that the TRAN is still close enough to both to be testing them.

  Linda Piazza   3/30/200,  2:19:36 PM
I've mentioned that several indices show a possibility for an inverse H&S to develop. The Wilshire 5000 had a quite well-developed shoulder-and-head formation, for example. The NDX, COMPX, Russell 2000 (more roughly formed) and Dow all show a possibility for such a formation, but in the Russell's, Dow's and Wilshire's cases, the neckline would be an ascending one if such a formation is to form. If either of those indices moves much higher than current levels, with the Wilshire now just above 11,000, that may be setting up the possibility that each will rush past the possible neckline level, with the possibility then being that they'll pull other indices up, too. The COMPX and NDX are both printing inside-day candles today, so aren't yet presenting that possibility strongly. Therefore, it may be important to watch those indices most close to a breakout point, such as the Russell, Dow, and Wilshire to help measure what might or might not happen with the OEX.

  Jeff Bailey   3/30/200,  2:18:25 PM
Bearish Day trade stop alert ... TER $23.74.

  Jeff Bailey   3/30/200,  2:17:54 PM
Russell 2000 Index (RUT.X) 586.35 +0.5% ... has been trading at our old downward trend and just below 587.33 (61.8% retracement) all session.

  Jeff Bailey   3/30/200,  2:11:36 PM
02:00 Internals at this Link

  James Brown   3/30/200,  2:10:55 PM
I know Linda already mentioned it this morning but the news that officials caught eight men planning to use fertilizer (ammonium nitrate) explosives across London is certainly encouraging. According to one report it is believed the targets were nightclubs and/or pubs.

  Jim Brown   3/30/200,  2:07:58 PM
Dow Jones is reporting that Dell is affirming or raising guidance for the quarter. Saying the company is performing at the high end of expectations for the quarter.

  Linda Piazza   3/30/200,  2:05:52 PM
I've just returned from my trip to find the OEX just about exactly where I left it--with 120-minute candles still lined up just under the 120-minute 100-pma, currently at 551.32; the daily candle lining up just under the 552-553 resistance, and the OEX in the middle of the upper half of the Keltner channels. Keltner resistance lies at 551.21 and 552.39, with Keltner support layered fairly closely all the way down to 549.25. Those Keltner support lines have separated, however, and sometimes that means that it's easier to slip past them than when they're grouped together. From a look at that Keltner chart, it remains difficult to divine the next direction, although oscillators hint that another move down to mid-Keltner channel support near 549.68 may occur, if not a move toward bottom-channel support. The possible inverse H&S scenario with a neckline near 551-553 still remains in play, which would mean we would look next for a decline into a right-shoulder formation with a drop toward 541-542, but that's only one scenario among many. The OEX could still break out above 553, negating that formation, or if it does drop, could drop past the right-shoulder level. We just have to wait to see what happens, keeping an eye on TRIN, advdec, and other tools that help us gauge the market.

  James Brown   3/30/200,  2:02:10 PM
+70%? Yup, shares of Napco Security Systems (NSSC) are up almost 70% in a week and a half after a Barron's article quoted one money manager saying NSSC could run from $10 to $25 in the next year due to a multi-year deal with ADT Security. Today's 16% gain to $17.00 was boosted by news that NSSC announced a 2-for-1 stock split.

  Jeff Bailey   3/30/200,  1:59:18 PM
SOX.X 481.44 -1.25% .... back above DAILY S1 of 480.61 after session low of 478.22.

Teradyne (TER) $23.67 -0.71% ... either side of $23.66 or BLUE #1.

  Jim Brown   3/30/200,  1:58:00 PM
Jonathan, you are right. I forgot it was that long ago. Sheesh! I did recommend it in the editors plays as well as a buy and hold.

  James Brown   3/30/200,  1:53:49 PM
Another broker-inspired move can be seen in Federated Dept. Store (FD). The stock is up 3.9% to $53.62 and breaking out over short-term resistance at $52.00 after Goldman Sachs upgraded FD from "in-line" to "out perform". Volume is strong today and FD is producing a new bullish buy signal on its MACD.

  Jeff Bailey   3/30/200,  1:53:40 PM
MapInfo (MAPS) ... $11.99 +4.17% Link .... just thought of this one on the AutoDesk (ADSK) $31.39 +4.87% Link upside preannouncement.

Note today's volume in MAPS, and I think others in sector thinking same thing.

  Jonathan Levinson   3/30/200,  1:50:00 PM
Jim, wasn't the PVN call in early 2002? I remember it well- I played it as a covered call strategy for my dad, who was very pleased.

  James Brown   3/30/200,  1:48:56 PM
Check out video game designer Electronic Arts (ERTS). The stock broke out from what looked like a large triangle or pennant shaped consolidation in addition to resistance at the $50.00 level recently. The rally has been fueled by strong volume after rival THQI raised its quarterly outlook on Friday due to strong demand.

Speaking of THQI its share price isn't doing bad either. The stock broke through major long-term resistance at the $20 level last Friday but couldn't hold it. Now shares are back above the $20 mark with today's 2% gain.

THQI's positive earnings outlook also boosted rival TTWO last Friday, which broke out over resistance at $35.00.

  Jane Fox   3/30/200,  1:48:49 PM
The SEC is considering enforcement action against the brokerage firm Edward D. Jones & Co following an inquiry into its mutual-fund sales practices. The investigation is looking at the brokerage firm's longstanding practice of receiving hefty payments from the seven "Preferred" mutual-fund companies it recommends most highly to customers and yet clients relying on the advice of Jones's brokers, weren't told of the financial incentives.

Revenue sharing fees are common in the mutual-fund industry. It is legal for a brokerage firm to receive them as long as the arrangements are properly disclosed, which is often not the case. Jones's clients generally have been unaware that the firm receives special compensation from its Preferred funds.

  Jim Brown   3/30/200,  1:47:48 PM
I profiled PVN at $2.50 last year as a long term buy and hold. I know quite a few readers bought it then. Wonder if anybody is still holding at $13 today?

  James Brown   3/30/200,  1:45:28 PM
We had COF on the weekend watch list for a breakout over the $75 mark.

  Jim Brown   3/30/200,  1:44:03 PM
COF - Capital One is breaking out to a new high and that prompted me to check some other financials. Citigroup also broke out to a new high yesterday and the entire sector is on fire. This is a conviction point for the bulls. Semis lead techs, techs lead the market and financials provide confirmation. This breakout is based on improving economics and expectation that the reports later this week will improve to the upside. Let's hope they are right.

  James Brown   3/30/200,  1:40:50 PM
Another player in the LCD parts market is Pixelworks Inc (PXLW). The stock is up 6.43% today after Piper Jaffray initiated coverage with an "out perform" this morning. The move is a nice follow through on the recent MACD buy signal and today's rally is a breakout over resistance at its 50-dma. Yet bulls might want to be cautious here and look for the right pull back since PXLW is up 20% in the last five days.

  Jim Brown   3/30/200,  1:35:01 PM
A reader sent me a fax relating to the rise in markets propelled by a rise in corporate profits. It is a chart of corporate profits rising into the 1987 crash. For the four quarters prior to the crash profits rose from the depths of the 1986 summer doldrums. The crash came when profits were at the highest level in four years. Link

This fax was in response and agreement to my comments in the market wrap over the last couple weeks that markets can move down despite good economics and rising profits. Obviously there were a lot of other factors contributing to the 1987 crash. Margin loans were extremely excessive and bullish sentiment was off the charts. This bullish sentiment was despite the market declining from its peak in August two months earlier. The Dow had seen several large point drops but they were quickly bought with newspaper headlines declaring the correction to be over. Unfortunately it was yet to come. On Oct-19th 1987 the Dow dropped -508 points and a whopping -22% in one day. All along the way from the August highs to Oct 17th all the analysts kept predicting a continued rally based on the growing corporate earnings and slowly improving economic conditions. Note the top two months earlier: Link

I am not predicting a disaster or a drop. I am simply exploring the similarities. Thanks to our astute readers for picking up on this thread. Thanks to Elliott Wave and LowRisk.com for their charts.

  James Brown   3/30/200,  1:31:40 PM
American Express (AXP) is up 1.69% and marking its third day in a row in a bounce from support near the $50 mark but the rally is struggling at the 50-dma just overhead. AXP issued some good news this morning. The company has signed a deal with the Industrial & Commercial Bank of China to issue credit cards and leverage ICBC's 24,000 branches across the country.

  James Brown   3/30/200,  1:24:45 PM
Sears Roebuck Co (S) is trying to recoup its early morning losses but remains in the red and under short-term overhead resistance at its 10-dma. Goldman Sachs downgraded the retailer from "in-line" to "under perform" this morning. Sears gapped lower at the open and has almost filled the gap but I get the feeling that once it does it will continue lower again.

  Jeff Bailey   3/30/200,  1:19:21 PM
01:00 Internals at this Link

  James Brown   3/30/200,  1:14:05 PM
Shares of Dow component General Motors (GM) are up 1.26% and challenging overhead resistance at its 40-dma. The company recently said that they see March sales momentum picking up and total sales could rise 10%.

  James Brown   3/30/200,  1:09:07 PM
F5 Networks Inc (FFIV) is up 1.32% to $33.65 after Adams Harkness has upgraded the stock from "buy" to "strong buy" and lifted their price target for FFIV to $43. Shares of FFIV are up strongly in the past several days moving from $28 to over its 50-dma near $33.00. Bulls might want to look for a dip back to the 50-dma as a possible entry point (although the $32 level is probably stronger support).

  Jeff Bailey   3/30/200,  1:07:59 PM
TER $23.66 ... let's see if they smack it.

  James Brown   3/30/200,  1:01:36 PM
Sector Update

OSX oil service: +2.38%
OIX oil index: +1.68%
XNG natural gas: +1.11%
XAU gold & silver: +0.97%

SOX semiconductors: -1.85%
XAL airlines: -1.56%
BTK biotech: -0.76%
DRG drug index: -0.77%

noteworthy is the 1.25% drop in Copper futures

  Jeff Bailey   3/30/200,  1:00:11 PM
Teradyne (TER) $23.56 ... here's my 5-MRT at this Link

Day trade bear wants seller at $23.66.

  Jeff Bailey   3/30/200,  12:54:13 PM
Day trade lower stop alert .... Teradayne (TER) $23.48 -1.51% ... lower stop to breakeven. Still targeting $23.35 with RED #4 at $23.34.

  Jeff Bailey   3/30/200,  12:49:16 PM
SOX.X 478.81 -1.79% .... now making more of a move below DAILY S1.

Teradyne (TER) $23.55 -1.21% following, approaching morning low of $23.50.

  Jeff Bailey   3/30/200,  12:45:34 PM
Barbeques Galore (BBQZ) $8.01 +55.83% ... moves to top of today's % gainers at NASDAQ.

  Jeff Bailey   3/30/200,  12:42:46 PM
Semiconductor Index (SOX.X) ... here's 5-point box scale of SOX Link

I would think a INDU/DIA bear wants to see some similarity in weeks to come, after INDU just did trade 10,350. Link

  Jeff Bailey   3/30/200,  12:35:45 PM
Vascular Solutions (VASC) $9.91 +50% ... all be darned if session high of $10.69 didn't make it to BLUE #6 (10.66) of 5-MRT.

  Jeff Bailey   3/30/200,  12:34:10 PM
QQQ $35.68 -0.3% ... still above opening low of $35.60. Somewhat impacted by SOX.X 480.35 -1.48%, but not all that much.

  Jeff Bailey   3/30/200,  12:32:58 PM
Monster Worldwide (MNST) $24.60 -1.83% .... not a lot going on... is there?

  Jeff Bailey   3/30/200,  12:31:18 PM
12:00 Internals at this Link

  Jeff Bailey   3/30/200,  12:11:11 PM
Day trade short alert .... Teradyne (TER) $23.74 here, stop $23.90, target $23.35.

SOX.X making session low at 480.55. VERY close to DAILY S1, but if lower to 473, then TER might be a trade.

  Jeff Bailey   3/30/200,  12:02:19 PM
NEM question .... think we'll get a pullback on nem? i had my order in at 1.75 on may calls, but it passed me by.

I think a pullback is likely, maybe back to $46-ish. I will note that yesterday's lows "kissed the gap" on the backfill, but buyers seemed eager to buy that pullback into Friday morning's gap ($45.20). Almost to the penny it was!

I think Jonathan mentioned the late "surge" in buying for NEM on Thursday afternoon to its close of $45.20.

  Jeff Bailey   3/30/200,  11:57:01 AM
Bema Gold (BGO) $3.56 +2.29% ... reversing some of recent loss. "Gap traders" might be looking for a move back up into yesterday's gap from $3.63-$3.55.

  Jeff Bailey   3/30/200,  11:55:09 AM
Newmont Mining (NEM) $46.85 +1.73% Link .... "X" gets the square at $47 earlier this morning, with a session high trade at $47.01.

  Jeff Bailey   3/30/200,  11:48:28 AM
Semiconductor Index (SOX.X) Components ... where I've sorted by the last 5-day's percentage change. Link

Stock trader's might be able to use along with 11:00 AM Intra-day update at this Link

  Jeff Bailey   3/30/200,  11:40:39 AM
Fantastic! .... Thanks for the heads up on VASC Jeff. Monster volume surge in the last 20 minutes has taken it over $10. I got in at 7.68 after your post. Much appreciated, Mark

Just looked a little too thin for a profile, but was a smaller priced stock worth mentioning.

Can I add that to my weekly tabulations? (grin)

  Jim Brown   3/30/200,  11:32:10 AM
Earning After the Close:

ALOY Est for loss of -11 cents

Earnings for Wednesday morning

ATYT est + .16
BBY est +1.39
CC est +.36
MON est +.56

  Jim Brown   3/30/200,  11:28:33 AM
WRI just announced a 3:2 split.

  Jeff Bailey   3/30/200,  11:12:23 AM
Yahoo! Inc. (YHOO) $48.25 +1.17% ... was looking for some of this action yesterday.

  Jeff Bailey   3/30/200,  11:07:49 AM
11:00 Internals at this Link

  Jim Brown   3/30/200,  10:41:06 AM
Speech by Governor Bernanke on Trade and Jobs Link

  Jeff Bailey   3/30/200,  10:40:01 AM
Swing trade bullish stop alert ... MNST $24.70. (note that 60-minute interval chart would show MACD just crossing below Signal) see 10:11:56 chart.

  Jeff Bailey   3/30/200,  10:35:11 AM
Semiconductor Index (SOX.X) 480.98 -1.35% ... session low here, approaching DAILY S1 of 480.61. At this point, would be backfilling bulk of yesterday's gap higher.

  Jeff Bailey   3/30/200,  10:31:56 AM
10:00 Internals at this Link

Yesterday's Internals at this Link

  Jeff Bailey   3/30/200,  10:21:42 AM
QQQ $35.69 -0.27% ... here's 60-minute chart of QQQ, with WEEKLY/MONTHLY Pivot retracement and levels shown in last night's wrap. Link

BEARS would like to see lighter volume, MACD sell below Signal and trend toward zero, with QQQ slowly moving toward target of $35.10.

  Jeff Bailey   3/30/200,  10:11:56 AM
Monster Worldwide (MNST) $24.92 -0.55% ... not sure what that dip lower at the open was about. Here's a 60-minute intervals chart, where rounding lower of MACD has me raising a protective stop. Link

  Jonathan Levinson   3/30/200,  10:00:42 AM
We have a 4.25B net drain with the Fed adding 3.5B against 7.75B expiring for yesterday.

  Jeff Bailey   3/30/200,  9:58:18 AM
Vascular Solutions (VASC) $7.85 +18.75% Link ... percentage gainer after receiving FDA clearance for D-Stat Dry Bandage.

  Jim Brown   3/30/200,  9:57:32 AM
Consumer Confidence = 88.3 , (est 85.8, last 87.3)
Last months number was revised up to 88.5 from 87.3

  Jeff Bailey   3/30/200,  9:56:13 AM
Dow Industrials (INDU) 10,333.26 +0.03% .... AXP $51.58 +1.41% Link , GM $47.16 +1.2% Link , XOM $41.51 +1.02% Link

Weakness is CAT $78.99 -0.66% Link and INTC $27.45 -0.86% Link

  Jeff Bailey   3/30/200,  9:50:00 AM
Krispy Kreme Doughnut (KKD) $34.60 +0.34% Link ... Legg Mason initiates coverage with "buy" and $46 target.

  Jeff Bailey   3/30/200,  9:44:23 AM
Sector action mixed with fractional gains/losses scattered across the board. Airline Index (XAL.X) 54.99 -1.09% is the only sector I show changed by more than 1%.

  Jeff Bailey   3/30/200,  9:41:59 AM
QQQ $35.71 -0.22% .... session low/high so far has been $35.60-$35.72. Might look for QQQ to backfill is opening gap back up to $35.83.

SOX.X 485.05 -0.51% ...

  Jeff Bailey   3/30/200,  9:36:15 AM
Swing trade raise bullish stop alert .... raise bullish stop for Monster Worldwide (MNST) to $24.70.

Trading $24.86 -0.75% here, with early session low of $24.12.

  Jeff Bailey   3/30/200,  9:18:06 AM
09:00 Update at this Link

  Jane Fox   3/30/200,  9:15:22 AM
The NYSE may be facing civil charges from the SEC alleging that the NYSE failed to adequately police its specialist firms and could result in a variety of sanctions, ranging from a censure to the temporary suspension or revocation of the NYSE's self-regulatory status.

Senior officials at the SEC have signed off on a settlement where the five largest NYSE specialists, without admitting or denying the allegations, consented to civil charges that they traded for their firms' own accounts at inappropriate times during a three-year period, costing investors about $155 million. As part of the settlement, which will be announced as early as Tuesday, the firms will pay that amount to investors in restitution along with another $85 million in fines.

  Jane Fox   3/30/200,  9:00:23 AM
Last week spot prices for computer memory chips surged and some market watchers are forecasting the high prices may last through the historically weakest month of April. That means DRAM makers that depend heavily on the spot market, should report tidy profits for the first quarter because chip prices are far above production costs of about $3.50 each.

"The dramatic [price] rise shocked traders and buyers, given that March historically has represented one of the slowest months of the year for the DRAM market... The question on everyone's mind now is how DRAM pricing trends will shape up in April, which historically is the slowest month of the year," Nam Hyung Kim, an analyst at market research firm iSuppli Corp., said. This April should be better than past Aprils, he added.

  Jane Fox   3/30/200,  8:57:00 AM
Dateline WSJ U.S. companies sending computer-systems work abroad yielded higher productivity that actually boosted domestic employment by 90,000 across the economy last year, according to an industry-sponsored study.

The analysis, one of the few that attaches detailed dollar values to offshore outsourcing's costs and benefits, was conducted for a coalition of business groups working to combat a growing backlash on Capitol Hill and in statehouses against the loss of U.S. jobs.

Expected to be released today, the study's premise is that U.S. companies' use of foreign workers lowers costs, increases labor productivity and produces income that companies can use to expand both in the U.S. and abroad. It was commissioned by the Information Technology Association of America, an industry membership and lobbying group, which hired the economics consulting firm Global Insight Inc. of Lexington, Mass.

There is a debate among economists about whether productivity increases from the outsourcing of high-paying U.S. work abroad has translated into meaningful economic improvement in the current recovery, in which job growth has been slow.

...the study claims that twice the number of U.S. jobs are created than displaced, producing wage increases in various sectors. The report takes a rather narrow focus; tracking the outsourcing of computer-services jobs, but not other work increasingly being done abroad such as manufacturing, call centers or medical X-ray reading

  Linda Piazza   3/30/200,  8:30:14 AM
I have to make a short trip this morning, and so will be away from the MM until early afternoon. Here's my outlook, however. I'm still watching for a possible fulfillment or nullification of the scenario on this OEX daily chart: Link As the chart shows, sustained levels above 553 will likely nullify this formation, suggesting a move up to retest broken support currently in the 569 region, but rising sharply higher each day. A move below 539 would represent a fall below the likely right-shoulder level of this possible formation, also nullifying it. A fall below 539 would likely be a sell signal then while a climb above 553 would be a buy signal, particularly as that also represents a climb above both the 120-minute 100/130-pma's. A rollover beneath 552 might bring the OEX down to the right-shoulder level near 541.50-542, but remember that this is based on a possible formation that hasn't even begun to form a right shoulder yet, so it's pure speculation at this point. It's just a scenario against which I'm testing action, and not a foregone conclusion, and so trading on the idea that the OEX will retreat to form a right shoulder is a riskier-than-usual trade. So far, the OEX has been following that scenario admirably, but that doesn't mean it will continue to do so.

Daily oscillators are either already bullish or, in the case of the MACD, trying to make a bullish cross but from below signal. The 120-minute oscillators try to flatten, but haven't fully committed to the downside and may have only been impacted by yesterday afternoon's pause after the strong climb. Five-minute charts show the OEX in the middle of the upper half of its Keltner channels, not yet showing whether that mid-channel support is going to hold or whether the OEX is likely to retreat all the way to the bottom support, currently at 545.86. Yesterday's end-of-day action and five-minute oscillators indicate a possibility that the OEX may rise to test overhead resistance before falling again to test mid-channel support again, with the likelihood being that the resistance would hold. The futures refute that supposition, since they're down as I type, ahead of economic numbers to be released this morning. They suggest that the OEX may head down to retest that mid-channel support right away. That overhead resistance can be found closely layered from the OEX's ending level yesterday up to upper channel resistance at 551.67 while next Keltner support can be found at 548.74-549.00.

  Jonathan Levinson   3/30/200,  8:07:03 AM
We await the 10AM release of consumer confidence for March. est. 86.

  Linda Piazza   3/30/200,  6:54:13 AM
Good morning. Monday, all had looked rosy to investors in Japanese stocks, with the much-watched Bank of Japan tankan survey on Thursday expected to show a strong number. Tuesday, however, the Ministry of Economy, Trade and Industry released February's Japanese industrial production, with the number showing a greater-than-expected decline of 3.7%. This was characterized as the biggest drop in three years although production had risen 6.9% over the year-ago level. March and April's industrial production numbers are projected to show increases. Capacity utilization came in at 76% with factories gearing up to meet growing overseas demand, but some believe that the effect of the stronger yen against the dollar is being seen in a 1.4% decrease in exports. In addition, the statistics bureau announced that February's jobless rate remained at 5% with the number of unemployed rising and the number of jobs decreasing.

The Nikkei opened higher by more than 100 points in Tuesday's trading and climbed above 10,800 in the first few minutes of trading, but then fell more than 100 points, dipping into negative territory and then popping slightly higher by the close of the morning session. In the afternoon session, the Nikkei trended down, although it closed slightly off its low of the day. It closed lower by 24.56 points or 0.21%, at 11,693.68, with a day's range of almost 200 points. Still, the Nikkei is maintaining an ascending trendline that it began forming in early February, and it will take a fall below 11,350-11,400 to break that trendline.

Banking stocks traded lower, many tech stocks moved lower, chip equipment makers were mixed, and many auto stocks ended flat or slightly lower. Nissan bucked that trend among auto stocks, closing higher after a newspaper speculated that the company would report a record operating profit. A spokesperson labeled the report speculative, but did affirm that North American sales were expanding. Other gainers in Tuesday's trading were Fujitsu, Sony, Canon, and Tokyo Electron.

Other Asian bourses mostly traded higher. Although President Chen had reportedly agreed to a recount, quieting some of the political turmoil in Taiwan, his negotiator and the opposition party apparently could not agree on terms of a meeting to discuss the dispute. The Taiwan Weighted headed down in early trading, but then zoomed up, finally ending the day in the middle of its range, up 0.32%. With Samsung being the recipient of upgrades or raised targets, Samsung was rising in early trading, helping to send South Korea's Kospi into positive territory. The Kospi couldn't hold onto those gains, however, and closed down 0.14%. Singapore's Straits Times headed higher by 0.49%. Hong Kong's Hang Seng gained 1.72% and China's Shanghai Composite gained 0.27%.

European bourses trade mostly lower. Oil prices rise today as OPEC announced that it will cut production next month to avoid declining prices as demand slows seasonally. Energy stocks such as BP, Shell and Total SA gained. In addition, London police arrested eight people allegedly involved in terrorist activities, finding bomb-making materials, with that development sending many travel-related issues lower. Other news appeared to be stock-specific. Power station builder Alstom's CEO expressed his confidence that banks would renegotiate the company's loans since the company's orders have increased, and Alstom was seeing strong gains in early trading. Tire maker Continental declined strongly after reporting net income that disappointed. Swiss life insurer Swiss Life Holding dropped after plans to sell one of its units fell through and the company decided to keep the unit.

As of this writing, the FTSE 100 was up by 3.10 points or 0.07%, at 4409.80. The CAC 40 had fallen 17.29 points or 0.48%, to 3616.89. The DAX had dropped 19.77 points or 0.51%, to 3861.48.

  Jeff Bailey   3/30/200,  3:24:36 AM
Pivot Matrix for tomorrow at this Link

  OI Technical Staff   3/30/200,  3:24:27 AM
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