Paul Shread

It’s been a very long time since the Dow (first chart below) spent an entire day below its 50-day moving average. About the only solace for the bulls is that the S&P (second chart) is hanging on. On the plus side, the broader market is now oversold, and there was vigorous activity in puts today. […]

Bullish news from two of the world’s top chipmakers couldn’t stop the Nasdaq from slipping into the red for the year on Tuesday. Texas Instruments lost 1% despite raising guidance, and a 49% jump in sales at Taiwan Semi was greeted with a yawn by investors. As a result, the Nasdaq fell into negative territory […]

Texas Instruments raised guidance after the close on Monday, welcome news for the chip sector following Intel’s warning last week. TI said it sees first-quarter revenues of $2.84-$2.95 billion, compared to $2.85 billion estimates, and the company’s earnings guidance of 19-22 cents a share would beat analysts’ estimates of 19 cents a share. Cymer and […]

The storage industry closed out 2003 in fine form, according to new market research results from Gartner and IDC. Worldwide sales surged 18.7% sequentially in the fourth quarter, Gartner research VP Roger Cox reports. “The overall market did a little bit better in 2003 than what was expected, and the fourth quarter was particularly strong,” […]

The indexes ended the day at some interesting levels. The Nasdaq (first chart below) closed just below its downtrend line and 50-day moving average. A gap above 2060 would take care of both resistance levels. Will the jobs report give it the fuel it needs, or will the techs once again be turned back at […]

Chip equipment spending has been lagging the broader economic and technology recovery, but JP Morgan sees a silver lining to that. The Wall Street firm said Wednesday it is bullish on the chip equipment sector because historically low capital spending ratios over the last few years suggest that spending is too low, which could mean […]

The Dow (first chart below) looks like it could be forming a lopsided head and shoulders top over the last two months. A close below 10,550 could lead to a decent correction for the market. Resistance is 10,615, and a move above 10,705 is needed to lessen the bearish set-up. The S&P (second chart) is […]

At least that’s what investors in metasearch engine Mamma.com should be saying after today’s 150% gain. The site that bills itself as “the mother of all search engines” moved into profitability with a 9-cent profit on sales that were up 127%. The stock gapped up this morning on the news and kept running. MAMA usually […]

Alacritech has introduced an iSCSI accelerator that outperforms iSCSI HBAs from Intel and Adaptec . The San Jose, Calif.-based firm says its SES1001 iSCSI accelerator uses the company’s SLIC Technology, the basis of TOE (TCP/IP offload engine) solutions, and is the only iSCSI HBA to offer seamless hardware acceleration for the Microsoft iSCSI Software Initiator […]

The Dow (first chart below) is setting up to be the index to watch here. The index has held a rising trendline going back two months now. That line is at about 10,568 for tomorrow; a close below that line and then the 50-day moving average at 10,535 could signal a coming correction. Resistance is […]

A nice assault on some major resistance levels by the major indexes, although once again an up day came on lower volume, even odder when you consider first of the month inflows. We had some nice fear among options traders today, a positive. The Nasdaq (first chart below) cleared the tough resistance level of 2045-2055, […]

With its attempted takeover of PeopleSoft in jeopardy, Oracle may be eyeing other acquisitions, the Wall Street Journal reports. The Journal said that Oracle may interested in BEA Systems , among other possibilities, as the company continues to study ways to fill out its product portfolio. Oracle isn’t the only company that sees consolidation coming […]