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by 12/11/2000 9:13 AM
Stocks quoted in this article:
Last Friday, Emulex (EMLX - 179-15/16) moved higher to trade at levels not seen since March. Today the stock is likely to again move to the upside. This morning, a major brokerage house initiated coverage on EMLX with a "buy" rating. In pre-market trading, the stock has added nearly three dollars. Evidence of the volatility faced by EMLX this year is the fact that the shares are now trading approximately 400 percent above their April low, yet remain 20 percent off their all-time high logged in March. <
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by 12/11/2000 9:12 AM
Stocks quoted in this article:
Shares of Cypress Semiconductor (CY - 25-5/16) added nearly 13 percent in last Friday's strong tech market. That marked the first close above CY's declining 10-day moving average since November 15. CY's overhead 20-day moving average still looms above at 27. These two trendlines have acted in tandem to guide the security lower over the past month.

On the options front, the June 25 strike call was active on Friday. This option saw nearly 6,000 contracts change hands, with virtually all of the volume translating into new open interest. A 5,665-contract block trade that crossed the tape at 6-1/8 accounted for the majority of the activity.
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by 12/8/2000 10:38 AM
Stocks quoted in this article:
Adobe Systems (ADBE - 69-3/16) is currently rallying from 63, which has been an important level this year. In April and May it acted as resistance, while shares later found support at this level in mid-October and late November. Yesterday's intraday low was 62-5/16.

The December 65 call is somewhat active, with 365 contracts trading already today, compared to open interest of 927 at this strike. A 125-contract block crossed the tape near the open at 6-3/8, when the bid price was 6 and the offer 6-1/2.
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by 12/8/2000 9:59 AM
Stocks quoted in this article:
This morning, the Labor Department released the November unemployment rate, non-farm payrolls, and average hourly earnings figures. The U.S. unemployment rate came in at 4.0 percent, which matched analysts' estimates. Non-farm payrolls, however, grew 94,000 versus estimates of a 150,000 advance. Average hourly earnings rose at a 0.4-percent clip compared to consensus estimates of a 0.3-percent increase. As for the markets, the March contract of the S&P futures (SP/H1 - 1382.00) is up 25.5 points, indicating a strong positive open. <
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by 12/8/2000 9:36 AM
Stocks quoted in this article:
Apple Computer (AAPL - 14-5/16) stock has given back another 16 percent in this week's trading, largely due to the negative earnings guidance it offered the Street on Tuesday. In yesterday's trading, a 5,000-contract block changed hands on the July 10 put. The trade crossed the tape at 1-1/8 and may have been initiated as a put-write position. In a put-write, the trader is betting that the shares will close at or above the strike of the put sold at expiration (in this case, July 20.) . If this occurs, the trader is able to collect the entire premium sold. In this case this would be worth $562,500 ($1.125 X 100 X 5,000).
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