Paul Shread

The Nasdaq (first chart below) is behaving very much like a broken index: a breakdown, a rally to retest the breakdown, and then a turn back down. Not a pretty picture. Support is 1856, 1853, 1846, 1838 and 1829, and resistance is 1861, 1870, 1878-1881 and 1894-1900. The S&P (second chart) has resistance at 1102, […]

After warnings from Orbitz , Priceline , and now InterActiveCorp , the online travel industry’s troubles are beginning to appear widespread. InterActiveCorp fell 15% in after hours trading Tuesday after missing revenue estimates and warning, matching Priceline’s 15% decline following its warning Monday night. IACI blamed competition and slowing bookings in its hotel business. Orbitz […]

A trendline that took almost two years to develop isn’t going to be precise within a point, but so far there’s no way to call the Nasdaq (first chart below) back inside the October 2002 uptrend line it broke down out of two weeks ago. 1894-1900 is first resistance, and 1910 is a biggie. Support […]

Priceline beat estimates after the close on Monday, but the company’s forward guidance was a little too cautious for investors. Priceline’s second-quarter earnings of 32 cents a share beat analysts’ estimates by a penny, and revenues of $259.4 million were also better than expected. But the stock fell 10% after hours after the company warned […]

HP has expanded its low-end storage offerings unveiled last year, adding what the company says is the first storage array to support either SCSI or Serial ATA (SATA) disk enclosures behind a single controller shelf. The new StorageWorks Modular Smart Array (MSA)1500 adds SATA support to the company’s previous SCSI offerings, giving companies that need […]

The Nasdaq (first chart below) has yet to make a convincing move back above its old 2002 uptrend line that was broken last week. That line will be quite a bit higher next week – call it 1910 for now – so the index will start next week below that line. It will take a […]

If there was a bright spot to Friday’s weaker than expected GDP report, it’s how far business investment has come in the last three years. The first reading of second quarter GDP came in at 3%, below the 3.7% economists were expecting. The culprit was a paltry 1% gain in consumer spending, the weakest since […]

The stock market correction that began in January claimed another victim this week: the long-awaited debut of LSI Logic spinoff Engenio Information Technologies. LSI Logic Storage Systems was renamed Engenio in May in preparation for the IPO, which was expected to be completed mid-year. Engenio would have traded on the NYSE under the symbol “NGE.” […]

The Nasdaq (first chart below) was stopped today at its old uptrend line connecting the October 2002 and March 2003 lows. This is a critical juncture for tech stocks; above 1885 tomorrow and the index could run. The next resistance levels above that are 1889 and 1894-1900, and support is 1860, 1856, 1853, 1846 and […]

KLA-Tencor reported strong results after the close on Thursday, but the stock slipped after hours on wide-ranging order guidance. KLAC’s earnings of 48 cents a share beat estimates by 3 cents, while revenues of $450.4 million came in under $451.9 forecasts. The stock traded higher after hours until the company said September quarter orders could […]

A nice recovery today, but we could have used a little more fear among option traders. Still, that was a straight shot off the lows today, with no overlap, so more upside remains possible. The Nasdaq (first chart) has support at 1856, 1846 and 1838, and resistance is 1860, 1868-1872 and 1883-1889. The S&P (second […]

AskJeeves and PeopleSoft gave jittery investors another reason to sell tech stocks on Wednesday. AskJeeves beat earnings and revenue estimates with 24-cent earnings and $60.3 million revenues, but the stock tumbled 10% after the company’s third-quarter guidance came in below Wall Street estimates. AskJeeves said it expects to earn 24 cents in the third quarter […]