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by 12/18/2000 9:26 AM
Stocks quoted in this article:
This will be a key week for brokerage stocks, as a couple of the largest names in the industry will report quarterly earnings. Investors will pick through profit reports from Morgan Stanley Dean Witter (MWD - 68-7/8) and Goldman Sachs Group (GS - 86-11/16) on Tuesday to determine if the group still has "the right stuff."

The AMEX Securities Broker/Dealer Index (XBD - 519.63) currently shows a conflicting technical picture. The XBD continues to hold support in the form of its 20-month moving average, but was violently rejected by its 10-week moving average in last week's action.
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by 12/18/2000 9:25 AM
Stocks quoted in this article:
Drug giant Schering-Plough (SGP - 57-15/16) has benefited from the renewed interest in pharmaceutical shares on Wall Street this year. SGP has tacked on approximately 90 percent from its 52-week low logged in March. This rally has the stock approaching its all-time high of 60-13/16, achieved in April 1999.

SGP's 10-week moving average has staunchly supported the stock's rally since late September. In last Friday's trading, the January 55 call saw heavy volume. Just under 6,200 contracts crossed the tape, adding over 6,000 contracts to open interest. <
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by 12/15/2000 3:57 PM
Stocks quoted in this article:
Despite a substantial rally bringing the Nasdaq March futures (ND/H1 - 2620) back to breakeven for the day, bellwether Microsoft (MSFT – 48-1/8 ) is not joining the party. In fact, MSFT dropped to a 52-week low today and is currently trading down 13.2 percent, near its low for the day. <
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by 12/15/2000 2:00 PM
Stocks quoted in this article:
The bears are out in force today, attacking the market-leading names that had been holding up on a relative basis. The weapons of choice are rumors and downgrades. Here are some examples:

Sun Microsystems (SUNW – 28-1/2) made a new 52-week low today at 27-1/2 on persistent rumors of accounting problems. The stock is trading down 9.86 percent today.

International Business Machines (IBM – 88) was the lone box maker left standing until it got downgraded today. IBM is now testing the lows made October 25th, currently trading at 88, down 4.73 percent.

EMC Corp. (EMC – 66-3/8) also fell victim to an analyst downgrade today. The stock is getting beaten up on the news. EMC is now down 10.89 percent, a chip shot from making a new 52-week low. <
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by 12/15/2000 9:54 AM
Stocks quoted in this article:
This morning, the Federal Reserve released the November U.S. Industrial production numbers, which unexpectedly declined for the second straight month. The overall decline came in at a rate of 0.2-percent, compared to analysts' estimates of a 0.1-percent rise. The weakness was attributed to lower-than-expected figures from the auto-manufacturing sector.
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