Paul Shread

Stocks ended a volatile week on a mixed note on Friday, as consumer confidence fell to new lows and diplomatic wrangling over Iraq continued into the weekend. The Nasdaq slipped fractionally to 1340, the S&P 500 tacked on 1 to 833, and the Dow added 37 to 7859. Volume declined to 1.54 billion shares on […]

Stocks soared Thursday on the heels of a strong European rally and hope that war with Iraq can be delayed or avoided. Investors ignored weak retail sales, high jobless claims and several earnings warnings to power stocks higher. The Nasdaq soared 61 to 1340, the S&P 500 surged 27 to 831, and the Dow soared […]

Quite a day. The Nasdaq (first chart below) made it all the way back to critical 1353-1355 resistance. If there’s a warning sign there, it’s the 92% upside volume – a little too much exuberance can make for a blow-off top (the flip side is that another 80% upside day on the NYSE tomorrow would […]

Microsoft says it will deliver Internet SCSI (iSCSI) support for Windows client and server environments in June. Microsoft’s iSCSI software driver will be provided by Web download at no charge for Microsoft Windows 2000 client and server versions, Windows XP, and the soon-to-be-released Windows Server 2003. The IP-based storage networking standard was adopted last month, […]

Stocks bounced back from a steep decline Wednesday, as investors awaited a UN vote on Iraq that could take place by the end of the week. The Nasdaq gained 7 to 1279, the S&P 500 tacked on 3 to 804, and the Dow climbed 28 to 7552. Volume rose to 1.54 billion shares on the […]

A nice reversal again – but for the third time in a week, the internals lagged, showing that buying remains selective. So will this rally be more than another one-day wonder? The rally was structured enough off the lows – with no overlap – so that there could be more to it. The Nasdaq (first […]

IDC’s Worldwide Disk Storage Systems Quarterly Tracker produced a number of statistical dead heats for the fourth quarter of 2002, allowing more than one company to claim that they were top dog. So claim they did. HP and IBM tied statistically for the number one position, with 25% revenue share each. So each put out […]

The Dow and S&P (first two charts below) are closing in on their lows of last year. For the Dow, 7450-7500 and 7200-7275 are support, and resistance is 7600, 7650 and 7725. The S&P has support at 800 and 768-775, and resistance at 817-818, 822 and 830. The Nasdaq (third chart) is still a long […]

Stocks continued to drift lower on Tuesday, as economic and international concerns remained front and center. The Nasdaq slipped 6 to 1271, the S&P 500 lost 6 to 800, and the Dow fell 44 to 7524. Volume rose to 1.4 billion shares on the NYSE, and 1.25 billion on the Nasdaq. Decliners led 19-13 on […]

The core specification for the convergence of Grid computing with Web services is on track to become a standard. The Open Grid Services Infrastructure (OGSI) version 1 specification, the basis for the Open Grid Services Architecture, went into “last call” within the OGSI working group at last week’s Global Grid Forum 7 in Tokyo. “In […]

Today was a 90% downside day on the NYSE, a sign that investors may be starting to throw in the towel. Remember, the average number of 90% downside days at a major bottom is five, according to Paul Desmond of Lowry’s Reports, and the bottom must be confirmed by a 90% upside day. However, a […]

Rising international tensions and fear of systemic problems in the U.S. sent stocks sprawling on Monday. Reports of an advanced nuclear program in Iran, another missile firing by North Korea, and a looming UN vote on Iraq provided the international drama. And comments by St. Louis fed President William Poole that mortgage giants Fannie Mae […]