Paul Shread

Rising oil prices and comments from former Fed Chairman Alan Greenspan that the U.S. economy could face a recession later this year sent stocks lower on Monday. After bucking a blue chip downtrend last week, tech stocks led the way lower Monday, losing nearly half a percent, but the major indexes climbed back to finish […]

The Nasdaq (first chart below) outperformed the NYSE just enough this week to register a buy signal under Gerald Appel’s 10-week Nasdaq/NYSE relative strength indicator (second chart). Combined with a big jump in put-call ratios and end-of-the-month buying just around the corner, stocks could be in for a good week or two. First they need […]

A three-day sell-off in blue chip stocks finally caught up with the tech sector on Friday, as the Nasdaq ended the day down 0.4%. Still, the Nasdaq ended the week up 0.75%, vastly outperforming the Dow’s 1% loss on the week. Microsoft was perhaps the biggest reason for the tech sector’s down day, losing 1.7% […]

FalconStor Software boasts solid success in the market for virtual tape libraries (VTLs), with high-profile OEM deals with the likes of EMC, IBM and Sun and 55 percent sales growth in its most recent quarter. According to CEO ReiJane Huai, the company is just getting started. In an interview with Enterprise Storage Forum today, Huai […]

The Nasdaq (first chart below) appears ready to close out the week with a buy signal, just in time for end-of-the-month inflows. The index barely has to keep pace with the NYSE tomorrow to register a buy signal under Gerald Appel’s 10-week Nasdaq/NYSE relative strength indicator (second chart). That’s a good sign for the market […]

An upbeat outlook from Analog Devices ignited chip stocks on Thursday, helping the Nasdaq eke out a modest gain despite a blue chip sell-off on worries about Iran’s nuclear ambitions. ADI shares soared 10% after reporting sales growth of 6% to $692 million, $40 million above Wall Street estimates. The company also said orders and […]

The Nasdaq (first chart below) continues to impress, and just has to keep pace with the NYSE for the rest of the week to register a buy signal under Gerald Appel’s relative strength indicator (second chart). The techs are bumping up against a rising trendline here, though, so they’ll need to power through that to […]

HP’s better than expected results failed to inspire investors, who sent shares of the company 5% lower on Wednesday. Rising inventories and concerns about pricing and competitive pressures weighed on the stock, which has enjoyed two stellar years under CEO Mark Hurd. But with the stock up 30% in six months, investors didn’t need much […]

The Nasdaq (first chart below) finally broke out today, and also gained on the NYSE in relative strength (second chart), two good signs for the market, which has been sorely lacking in tech leadership for months. The techs are bumping up a rising trendline here — call it 2518 for tomorrow — but if they […]

HP beating Wall Street estimates has become a given in the last couple of years, which perhaps explains why investors sent HP shares 1% lower late Tuesday after the company exceeded forecasts once again. HP’s first-quarter sales rose 11% to $25.1 billion, $800 million ahead of forecasts, while earnings of 65 cents a share were […]

Despite their best week in months, buyers didn’t quite have the strength to change the technical picture, as the Dow and S&P (first two charts below) remained within the rising channels that have dominated trading since November. For Tuesday, resistance is 1461 on the S&P and 12,800 on the Dow, and first supports are 1450 […]

Stocks managed to end the day unchanged Friday despite a warning from Microsoft and a steep slide in housing starts. Microsoft shares lost 2.5% after CEO Steve Ballmer told analysts that Vista sales estimates are too aggressive, but the surprise was that the rest of the market recovered after initially following Microsoft lower. Google shares […]