Paul Shread

It hasn’t been the most convincing of rallies, but so far it’s holding up well, as stocks resisted selling and digested Friday’s gains today. On the Dow (first chart below) 10,629-10,664 is important support, and 10,750-10,775 and 10,868 are resistance. The S&P (second chart) is holding 1196-1200 support, and resistance is 1205, 1210 and 1218. […]

Cisco and Dell will give investors some good insight into the state of IT spending when they report their quarterly results this week. Cisco will release its results Tuesday after the close, and analysts are looking for 22% year-over-year jump in earnings to 22 cents a share. Revenues are expected to grow 13.5% to $6.13 […]

EMC on Monday announced general availability of its first 4 gigabit-per-second Fibre Channel offering, the Connectrix DS-4100B SAN switch solution based on Brocade’s SilkWorm 4100 SAN switches. EMC OEMs switches from the major storage switch vendors — McData, Brocade and Cisco — for its Connectrix offerings, and Brocade was the first to qualify. McData and […]

The Dow and S&P (first two charts below) blasted through resistance today after traders decided that a weak jobs report was good news for interest rates — that’s pretty bullish behavior. The Nasdaq (third chart) is still some distance from the same resistance level — the January recovery high in the 2100-2108 resistance zone — […]

Net stocks seem to be suffering from comparisons to Google lately. eBay , Amazon.com , AskJeeves , DoubleClick and Shopping.com are just some of the Net names that have faltered as Google’s shares have soared. It seems the Net’s newest star is making everyone else seem like old news. Even Yahoo failed to hitch a […]

The Dow and S&P (first two charts below) turned back at major resistance levels today (10,629-10,664 on the Dow and 1196-1200 on the S&P) ahead of Friday’s big jobs report. Both indexes managed to hold well above the important support levels of 10,510-10,532 and 1178-1180, however. The Nasdaq (third chart) fell a little deeper into […]

Merger mania in the telecom sector went into overdrive on Thursday, with reports that both Qwest and Verizon may be eyeing MCI . The Wall Street Journal reported that Qwest is in talks to buy MCI for $6.3 billion, while Verizon is in “exploratory talks” with the company, the paper reported. Late in the day, […]

The Dow and S&P (first two charts below) managed to push some more big resistance levels despite another Fed rate hike. On the Dow, 10,629-10,664 is a big level, and 10,510-10,532 is major support. The S&P faces a big test at 1196, with 1200 above that, and 1189 and 1178-1180 are support. The Nasdaq (third […]

Shares of Amazon.com tumbled more than 10% after hours Wednesday after the company’s earnings came in shy of Wall Street estimates. Amazon’s revenues rose 30% to $2.54 billion, beating $2.42 billion estimates, but pro forma earnings of 35 cents a share were a nickel shy of estimates, as earnings were pressured by rising costs and […]

Advanced Digital Information Corporation (ADIC) has overhauled the hardware platform and management software for its Scalar i2000 enterprise tape library, and also announced a new remote diagnostic tool for all its storage platforms. ADIC claims four industry firsts for the new Scalar i2000 iLayer management software: true hot swap drives, drive firmware auto-leveling, native SMI-S […]

The Dow (first chart below) finally broke through 10,510-10,532 resistance today, which should now be support. Stocks will now have to survive another Fed rate hike tomorrow, but at least we know where support is. 10,590-10,600 and 10,629-10,664 are the next resistance levels. The S&P (second chart) faces a big test at 1194-1200, and 1175-1180 […]

Shares of Google leapt 9% to a new all-time high after the close Tuesday after the company beat earnings and revenue estimates handily. Net revenue — or revenue before traffic acquisition costs — was $654 million, well above $589 million analyst estimates and up 30% sequentially. Net income was $204 million, up 655% year-over-year. Pro […]