Paul Shread

Shares of Dell soared 8.5% Friday to their highest level in more than four years, as investors cheered the company’s strong results and bullish outlook. Dell closed at $40.48, its first foray above $40 since early September 2000, when the Nasdaq was trading at 4000 and the S&P 500 at 1500. The company’s ability to […]

A strong trend; the market has been overbought for some time, yet it keeps pushing higher. The Nasdaq (first chart below) took out 2055 resistance today. 2079 and 2100 are the next resistance levels, and support is 2050-2055, 2040-2041 and 2032-2034. The S&P 500 (second chart) is pushing the major resistance level of 1173-1177, with […]

Dell reported yet another solid quarter after the close on Thursday. Dell’s third-quarter earnings of 33 cents a share met analysts’ estimates, while revenues of $12.5 billion came in slightly below $12.53 billion forecasts. For the fourth quarter, Dell forecast earnings of 36 cents on sales of $13.5 billion, again in line with estimates. The […]

Another day of indecision. We’ll give points to the bulls for resilience, but if they can’t move the market higher in the next day or two, the next move may be down. The Nasdaq (first chart below) stalled yet again below its June high of 2055. Support is 2030-2034, 2020-2025 and 1992-2000. The S&P 500 […]

Wednesday was a day for three-letter ticker symbols on Wall Street. Shares of Cisco Systems , which trade on the Nasdaq under the symbol “CSCO,” fell 6.6% after the company reported sales that were slightly below estimates and warned that January quarter revenues may also come in below forecasts. Computer Sciences , which trades on […]

With lukewarm results from Cisco after the bell and the likelihood of a Fed rate hike tomorrow, this could be the time and place for a correction. The Nasdaq (first chart below) stalled once again below its June high of 2055. Support is 2034, 2020-2025 and 1992-2000. The S&P 500 (second chart) is hesitating at […]

Cisco Systems slipped in after-hours trading Tuesday after the company met earnings estimates but reported sales that were slightly below forecasts. Cisco’s earnings of 21 cents a share were in line with analysts’ estimates, but revenues of $5.97 billion came in slightly under $6.02 billion expectations. Gross margins slipped a point to 67.2%, and inventories […]

EMC’s Documentum unit is moving its enterprise-class Records Manager technology down market, with a little help from EMC’s Legato unit. Documentum took over control of Legato’s ApplicationXtender product earlier this year, and Documentum is adding its Records Manager technology and retooling the product for midrange enterprise content management (ECM). The result is unstructured content management […]

With earnings from Cisco and Dell and a Fed rate hike coming this week, it’s no wonder stocks paused today. The Nasdaq (first chart below) is hesitating below its June high of 2055. Support is 2020-2025 and 1992-2000. The S&P 500 (second chart) faces major resistance at 1173-1177 and 1190-1200. Support is 1160-1163, 1157, 1150 […]

Earnings reports from technology bellwethers Cisco Systems and Dell promise to make this week an eventful one for investors. As if that weren’t excitement enough, the Federal reserve will likely raise short-term interest rates for the fourth time this year on Wednesday. Cisco will report its quarterly results after the close on Tuesday. Analysts are […]

Most stocks fell on the NYSE today, but that didn’t stop the bulls from throwing another party. We need a monthly chart to see where the S&P 500 (first chart below) could run into resistance next. Those levels are 1173-1177 and 1190-1200. Support is 1160-1163, 1150 and 1140-1142. 2055 is the next major resistance level […]

UBS took the ax to two of the Internet’s leading names on Friday, saying their shares had become fully valued. Google fell 8.3% to $169.35 after UBS initiated coverage of the recent IPO with a Reduce rating and $160 price target. Shares of Google have fallen 15% since the stock failed to take out the […]