Paul Shread

The indexes paused at resistance today; so is it a double-top, or just a breather? At the highs today, the market was as overbought on an intraday basis as it was oversold last week. Still, the market could make another attempt at the highs after a rest. Internals were bullish today – new highs actually […]

It’s come to this. America Online may officially become just a subsidiary of a traditional media conglomerate tomorrow. The board of AOL Time Warner may drop “AOL” from its name when it meets tomorrow, according to reports. The new stock symbol is expected to become TWX, Time Warner’s old symbol before the companies’ rocky merger […]

The indexes all closed right at or just under resistance today, and with rising volume and strong internals, including more than 80% upside volume on the NYSE and Nasdaq, the indexes may have the power to break through. The S&P (first chart) is back near 1033 resistance. If it can clear that, 1051 could be […]

IT spending may not be rebounding, but investors continue to act like it’s just a matter of time. The Nasdaq closed just below its recent high of 1888.7 on Tuesday, boosted by Federal Reserve comments that “spending is firming” and promises to leave interest rates low for a “considerable period.” IBM briefly touched a new […]

The rally attempt hasn’t gotten very far, which is a sign of potential weakness. However, there also hasn’t been any technical damage yet, so we’ll call the picture neutral at the moment. 1020-1022 and 1010 on the S&P (first chart below) look like good first levels for indicating direction. Levels to watch on the Nasdaq […]

Despite the broader economic recovery, IT spending remains flat, Goldman Sachs said in its latest IT spending survey. Technology capital spending is likely to end the year flat or slightly down, Goldman said. However, the firm still expects a 3.9% spending increase next year. Security hardware and software and storage and data networking remain top […]

Kashya has unveiled a data protection appliance that costs just a fraction of competing systems from EMC, Hitachi, and other top-tier vendors. As if that weren’t enough, the start-up also claims its KBX4000 appliance offers greater performance and features without locking the user into proprietary technology. Pricing starts at about $25,000 per site, while Kashya […]

Another bounce attempt today, but once again it came on lower volume than yesterday, so it looks like a bounce in a downtrend based on the volume pattern. Still, the market was very oversold at the lows today and absorbed some pretty bad news, so it’s possible the market could put together a rally from […]

Oracle fell Friday after missing revenue estimates and reporting lower than expected license sales. Earnings of 8 cents a share met estimates, but revenues of $2.07 billion missed $2.14 billion estimates, and license revenues fell 7% when they were expected to rise by as much. The company blamed short-term execution problems and seasonal weakness, and […]

As storage standards have begun to mature, EMC has decided its WideSky middleware program is no longer necessary. Executive VP Mark Lewis said recently that the company now favors SMI-S, the Storage Networking Industry Association’s Storage Management Initiative Specification, and API swaps. The SMI Specification is expected to be adopted later this year. The reason, […]

Today’s bounce came on lower volume and upside volume also could have been better, but the market has rallied off worse starts this year. On the plus side, new lows have yet to expand on any pullback in the Nasdaq, this one included. The S&P (first chart below) is trying to climb back above 1015-1018 […]

Adobe gave investors something to cheer about after the close on Wednesday when the company beat estimates and raised guidance. Adobe’s earnings of 28 cents a share beat analysts’ estimates by 3 cents, and revenues of $319.1 million also topped forecasts. The company’s fourth-quarter projections of 30-32 cents a share and revenues of $330-350 million […]