--------------------------------------------------------------------------- ----- Market Update 3:30PM: Indices are off their highs, but holding on to the bulk of today's gains with the session nearing its end... The resilience of the tech stocks, and the strong showing from the cyclical shares, have been the highlights to this point... Within the tech sector, the semiconductor-related stocks have been among the best performers... At the moment, the SOX Index is up 3.5% and is just shy of its 50-day simple moving average at 608... The latter has proven to be a pivotal barrier over the last several months... Penetration on a closing basis bolsters the outlook for follow through buying interest... As a reminder, Novellus Systems (NVLS +2.00) will be providing its mid-quarter update after the close... NYSE Adv/Dec 1963/1084, Nasdaq Adv/Dec 2354/1420 --------------------------------------------------------------------------- ----- In Play� 3:53PM Sector Watch : Wave of profit taking seen in late trade in both semiconductor (SOX) and biotech (BTK) sectors. SOX failed to hold above 50 day simple ma after minor penetration and BTK fell just shy of 200 day simple ma before faltering. Thus far damage has remained limited in scope. Fiber optic also losing ground after less impressive rally today and appear more vulnerable on a short term basis. 3:31PM Earnings Calendar : Scheduled to report earnings after the close today are: FCEL, FNSR and ULCM. The only company expected to release earnings prior to the open tomorrow is PNY. 3:12PM Stock Splits : Both BJS and DGX previously announced 2-for-1 stock splits and will begin trading on a split adjusted basis tomorrow. --------------------------------------------------------------------------- ----- Disclaimer: To access any of our 1800ventures.com services, you need to be familiar and read our disclaimer first. 1800ventures.com is published as an information service for subscribers, and it includes opinions as to buying, selling and holding various securities. However, the publishers of 1800ventures.com are not brokers or investment advisers, and they do not provide investment advice or recommendations directed to any particular subscriber or in view of the particular circumstances of any particular person. The information provided by 1800ventures.com is obtained from sources believed to be reliable but is not guaranteed as to accuracy or completeness. Subscribers to 1800ventures.com or any other persons who buy, sell or hold securities should do so with caution and consult with a broker or investment adviser before doing so. At various times, the publishers and employees of 1800ventures.com may own, buy or sell the securities discussed for purposes of investment or trading. 1800ventures.com and its publishers, owners and agents, are not liable for any losses or damages, monetary or otherwise, that result from the content of 1800ventures.com. Securities discussed in 1800ventures.com should be considered speculative and contain a high degree of volatility and risk.
