Paul Shread

Better than expected results from Dow components Procter & Gamble and McDonald’s sent stocks to strong gains on Monday. The Nasdaq gained 27 to 1462, the S&P 500 rose 16 to 914, and the Dow surged 165 to 8471. Volume declined to 1.27 billion shares on the NYSE, and 1.46 billion on the Nasdaq. Advancers […]

Adaptec has made a patent claim that could affect the iSCSI specification, although at least one key observer thinks the claim probably won’t have much effect on IP storage adoption. Adaptec posted a statement last month to the Internet Engineering Task Force (IETF) IP Storage working group that said the company “has made a patent […]

Disappointing earnings reports and a surge in weekly jobless claims sent stocks lower on Thursday. The Nasdaq lost 8 to 1457, the S&P 500 declined 7 to 911, and the Dow fell 75 to 8440. Volume declined to 1.5 billion shares on the NYSE, and 1.65 billion on the Nasdaq. Decliners led 19-13 on the […]

No major deterioration in internals today, and volume was low, both positives. However, sentiment continues to be too complacent, with the VIX (options volatility index, first chart below) down on a down day for the market. Again, higher prices remain possible, but sentiment levels suggest the potential for much lower prices when the market turns. […]

Lower-end SANs and storage management software appear to be the biggest spending priorities for storage professionals, according to TheInfoPro’s latest storage study. TIP’s study, based on 192 in-depth interviews with Global 2000 storage decision makers and 42 institutional investors, found that storage professionals are planning to spend less on Storage Area Networks (SANs) this year […]

Better than expected results from eBay and AT&T continued the market’s run on Wednesday. The Nasdaq rose 14 to 1466, the S&P 500 gained 7 to 919, and the Dow rose 30 to 8515. Volume declined to 1.61 billion shares on the NYSE, and rose to 1.82 billion on the Nasdaq. Advancers led 20-12 on […]

A nice growing number of new highs on both exchanges, but there still seems to be a leadership void here. Yahoo dropped off the new highs list today, but at least it was replaced by eBay. A remarkable number of leading stocks were missing from today’s rally, among them Yahoo, Microsoft, IBM, Cisco, 3M and […]

Stocks surged Tuesday after President Bush said he plans to reappoint Fed Chairman Alan Greenspan. The Nasdaq rose 26 to 1451, the S&P 500 gained 19 to 911, and the Dow surged 156 to 8484. Volume soared to 1.64 billion shares on the NYSE, and 1.6 billion on the Nasdaq. Advancers led 24-8 on the […]

Dojis – unchanged candlesticks – on the major indexes could signal a top if followed through to the downside tomorrow. Another down day for the VIX (options volatility index, first chart below), which remains in danger territory. The banks and the Nasdaq (second and third charts) could be forming bearish rising wedges here. The Nasdaq […]

Stocks lost ground in light volume on Monday, as European markets remained closed for the long holiday weekend. The Nasdaq declined 1 to 1424, the S&P 500 lost 1 to 892, and the Dow slipped 8 to 8328. Volume declined to 1.1 billion shares on the NYSE, and 1.26 billion on the Nasdaq. Advancers led […]

Technology stocks continued to outperform Thursday on better than expected results from Broadcom and Nokia, and blue chips gained on a manufacturing report that wasn’t as bad as feared. The Nasdaq surged 30 to 1425, the S&P 500 rose 13 to 893, and the Dow climbed 80 to 8337. Volume declined to 1.38 billion shares […]

Another big down day for the VIX (options volatility index, first chart below) coupled with a very low .41 reading in the equity put-call ratio suggests an almost complete lack of fear on the part of traders. As we said earlier this week, price may continue higher, but watch out when it turns. The bank […]