Strong Gains Fade

A strong rally on positive war news faded for the third straight day on Monday.

The Nasdaq added 6 to 1389, the S&P 500 added 1 to 879, and the Dow gained 23 to 8300 – 220 points off its high for the day. Volume rose to 1.47 billion shares on the NYSE, and 1.51 billion on the Nasdaq. Advancers led 20-12 on the NYSE, and 19-12 on the Nasdaq. Upside volume was 63% on the NYSE, and 63% on the Nasdaq. New highs-new lows were 111-13 on the NYSE, and 129-27 on the Nasdaq.

After the close, Microchip and RF Micro warned.

During the day, CNT fell 28% on plans to acquire Inrange .

AOL surged 5% after taking its video IM case to the FCC.

Intel , up 1.7%, is readying for Windows Server 2003.

Yahoo lost ground despite major search upgrades. The company reports earnings Wednesday night.

Siebel gained 3% despite warning, while S1 fell 7% after warning.

Adobe rose 3% on sweeping changes to Acrobat.

Unisys climbed 0.7% after targeting the low end of the market.

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