Paul Shread

IBM on Tuesday unveiled two new storage systems for small and mid-sized businesses based on hardware and software from LSI. The new System Storage DS3000 series are entry-level disk arrays that include integrated management software that Big Blue says lets customers set up and manage their data resources in just six steps. The simple configuration, […]

The Nasdaq (first chart below) remains in solid breakout mode and has added to its outperformance over the NYSE since last week’s buy signal (second chart). All that despite a lack of participation from chip stocks the last couple of days. To the downside, support is 2493, 2488, 2481 and 2471. To the upside, it’s […]

A warning from AMD that it will miss Wall Street estimates sent its stock 10% lower on Friday, but the rest of the market hit fresh multi-year highs on stronger than expected December retail sales. AMD’s news did little to dent the Nasdaq, which closed above 2500 for the first time since Feb. 15, 2001. […]

A nice breakout for the Nasdaq (first chart below) today. Just based on the size of that pattern, the techs should see 2550-2590, although we’ll see how the index handles the big round number of 2500 first. 2471 should now be support. It would have been nice to see chip stocks (second chart) join the […]

Tech stocks continued to find favor with investors on Thursday. The Nasdaq hit a six-year high, and the Dow closed at a new all-time high on strength in technology components Microsoft , Intel and HP . Microsoft surged 3.5% on bullish comments from JP Morgan, while Intel gained 2% after Deutsche Bank said it expects […]

Tech stocks continue to be the best thing going for the market here. A move above 2471 and the Nasdaq (first chart below) could be off to the races. First support is 2450-2453. Options indicators were better behaved today, with ISE sentiment readings down in the double digits most of the day. With pre-holiday trading […]

iPhone mania lifted Apple’s shares to their second straight all-time high Wednesday, boosting technology stocks and helping the broader market overcome early weakness. Intel rose 2% on news that it will supply chips for Apple TV, but the chip giant told Reuters it won’t supply chips for the iPhone. Synchronoss soared 16% on news that […]

Stocks continue to struggle here, and one thing holding them back may be sentiment — we haven’t seen much of a spike in options indicators accompanying bouts of selling. Perhaps stocks have more work to do on the downside, but with the Nasdaq leading and pre-holiday trading generally favorable, the bulls could catch a break […]

Apple’s long-awaited move into the mobile device market Tuesday sent its shares soaring — and battered competitors like Research in Motion and Palm . The news was good enough to send Apple shares 8.5% higher and help the Nasdaq to a modest gain on the day, while investors remained cautious on blue chips ahead of […]

Brocade moved further outside its core Fibre Channel business late Monday with the acquisition of iSCSI acceleration startup Silverback Systems. “We are committed to providing customers a broad range and choice of high-performance networked storage solutions,” stated Brocade CTO Dan Crain. “Silverback’s technology and expertise in iSCSI environments will help us to deliver a new […]

With little in the way of news this week, save for retail sales data on Friday, stocks will have to look hard to find a catalyst ahead of next week’s earnings deluge. Still, while stocks have been in a corrective phase in recent weeks, the choppy, overlapping and shallow nature of the correction is potentially […]

A sector upgrade gave technology shares a modest boost on Monday, but investors remained jittery over the direction of interest rates and corporate earnings. EMC , Network Appliance and IBM were some of the beneficiaries of upgrades from UBS, which said that technology should begin to outperform as business investment picks up. But investors remained […]