Paul Shread

The market tried to right itself today after Friday’s sell-off. So far, the internals are less than impressive, but since Thanksgiving week is historically up, we wouldn’t be surprised to see more upside over the next week or so. The Nasdaq (first chart below) has resistance at 2089-2093, 2100 and 2112, and support is 2066-2070 […]

Shares of Apple Computer soared 11% Monday after a Piper Jaffray analyst pounded the table on the stock. Analyst Gene Munster set a $100 price target on the stock — it closed Monday at $61.35 — after a survey by the firm found that 13% of iPod users were PC users who either bought or […]

Advanced Digital Information Corporation (ADIC) has updated its Pathlight VX disk backup solution to offer more performance and scalability for less. ADIC claims that Pathlight VX 2.0 is the first open system backup product to combine the capacity and characteristics of disk and tape in a single, unified system, using policy-based data management technology to […]

The indexes put in “inside days” today, staying for the most part within yesterday’s range. A break of yesterday’s range could tell us which way this little consolidation will break: that’s 2112 or 2089 on the Nasdaq, 1188 or 1176 on the S&P 500, and 10,602 or 10,481 on the Dow. The Nasdaq (first chart […]

An early sell-off on a warning from Applied Materials turned into gains Thursday after Intel CEO Craig Barrett said he expects “much improved performance” in the first half of 2005. “I am looking at a much improved performance in the first half of 2005 than what it was in the first half of 2004,” Barrett […]

ExaGrid Systems has unveiled what the company claims is “the first fully integrated storage and data protection solution.” The company’s Advanstor data storage and protection solution combines primary network attached storage (NAS) with a fully integrated suite of data protection capabilities, for a “cost-effective self-managing and self-healing solution” for mid-sized businesses and departments of large […]

The inventory glut that has plagued chip companies all year will continue at least another quarter. Applied Materials sharply lowered January quarter guidance after the close on Wednesday. AMAT said it expects a 35% sequential decline in orders for the quarter, a 20-23% drop in sales, and earnings of 15-16 cents a share. Analysts had […]

The indexes (see charts below) put in “evening star” topping patterns the last three days. HP had strong results after the close tonight, but a negative CPI report in the morning could counteract that. The Nasdaq (first chart below) has resistance at 2087 and 2095-2100, and support is 2050-2062 (2055), 2040-2041 and 2032-2034. The S&P […]

HP and Network Appliance gave investors some good news after the close on Tuesday. Shares of HPQ surged more than 7% in after-hours trading after the company posted a strong rebound from an earnings warning in August. HP’s fourth-quarter pro-forma earnings of 41 cents beat estimates by four cents, and revenues of $21.39 billion topped […]

IBM hopes to give a boost to large-scale public grid computing projects with the launch of the new “World Community Grid.” Such public projects — where computer users volunteer spare processing power to create a virtual supercomputer to solve complex problems — are nothing new, but having Big Blue’s weight behind such efforts will no […]

For the first time in some time, sentiment is looking a little toppy, with a very low reading today on the equity put-call ratio. With the market very extended (-DI, or selling pressure, is below 10 on all indexes; see charts below), a pullback is certainly overdue. The Nasdaq (first chart below) has resistance at […]

Earnings reports from HP and Applied Materials will headline a busy couple of days on Wall Street. Investors will be watching HP’s results closely when the company reports Tuesday after the close. Shares of HP tumbled in August after the company warned of disappointing results, and analysts were quick to criticize the company’s faltering execution. […]