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by 9/1/2000 5:01 PM
Stocks quoted in this article:
Agilent Technologies (A - 61-11/16) gained over two percent on the day as it attempts to recover from its late-July sell-off. That drop, precipitated by A's third-quarter profit warning, dumped A from its August 19 close of 74-1/16 to 54 the next day. A fell as low as 38-3/16 on August 8 before recovering. A key event was the August 17 release of earnings that beat analysts' revised estimates by 70 percent. A announced earnings of 34 cents per share, an increase of 15 percent over the previous year's figure. Analysts had expected only 20 cents per share. The surprise helped A tack on 12 points. The stock has since consolidated into its uptrending 10-day moving average, a trendline that has supported A's recent 62-percent rise. The next resistance overhead may be the 20-week moving average at 68.
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by 9/1/2000 3:45 PM
Stocks quoted in this article:
Fresh from pocketing $380 million from the sale of seven radio stations to Cox Communications (COX 36-7/16), Clear Channel Communications (CCU 66-5/8) is exhibiting follow-through from Thursday's 4.62-point pummeling. Yesterday, the stock experienced a violent rejection at its overhead 10-day moving average on volume of over 10 times the average. The shares are currently lower by nearly five percent but off of their lows of the session at 66-5/8.

The 75 call options are active in both the September and October series. 1,801 September 75 calls have traded on current open interest of 6,047, while the October 75 call has seen 1,482 contracts trade on current open interest of just 609, indicating that new open positions will translate here. <
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by 9/1/2000 3:34 PM
Stocks quoted in this article:
MicroStrategy (MSTR 31-7/8) provides intelligent e-business software and related services that enable the transaction of one-to-one electronic business through web, wireless, and voice communication channels. The stock has been basing since April, with the exception of a 120-percent rally that took place in June when the stock ran from 28 to 62 on heavy volume. Volume has been picking up; MSTR has traded over 3.5 million shares today. The stock is currently up 14.5 percent. Option activity has been centered on the September 30 call, where over 1,300 contracts have traded.
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by 9/1/2000 2:56 PM
Stocks quoted in this article:
Yesterday, Micromuse (MUSE 179-9/16) fell 15 points to 151-7/8, resting directly on its 10-day moving average. Today, the stock is up over 17 percent, as it bounces sharply off this trendline. The 150 area is a key level, as the stock was able to break through resistance at this strike on August 24 and is now benefiting from yesterday's successful retest.

Many options players have ignored this stock. As of yesterday, front-month open interest held only 403 calls and 222 puts, and the most-active option today is the September 165 call with a volume of only 51 contracts.

A good contrarian indicator that this stock could continue to rise is that short interest has nearly doubled from mid-July to mid-August. <
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by 9/1/2000 2:02 PM
Stocks quoted in this article:
Nordstrom (JWN 18-11/16) operates upscale department stores throughout the United States. JWN shares seem to be experiencing the "sell on the rumor, buy on the news" phenomenon, as the equity has posted a nearly nine-percent gain following a slew of brokerage downgrades.

Last night after the close, the retailer held a press conference wherein officials announced the resignation of the firm's Chairman and Chief Financial Officer. Two members of the Nordstrom family were appointed to fill the roles. This morning, the stock's rating was lowered at Merrill Lynch (MER - 71-5/8), Bear Stearns (BSC - 68-5/16), and Credit Suisse/First Boston.

Despite this news, JWN has been trending higher throughout the session, although it is presently encountering resistance at its overhead 10-day moving average. The stock is still well below its significant intermediate-term and long-term moving averages. Even with today's rise, the shares remain 45 percent away from their annual peak reached in mid-April.
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