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by 12/1/2000 9:45 AM
Stocks quoted in this article:
Shares of electronic-components outsourcer Celestica (CLS - 52-1/8) lost nearly 14 percent on Thursday amid the downdraft in technology stocks. As a result, the shares undercut potential technical support at the 10-month moving average. Yesterday's finish represents the first monthly close below this important trendline in the stock's history. The December 60 call was active yesterday, as over 10,000 contracts changed hands, with virtually all of this volume translating into new open interest.
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by 12/1/2000 9:41 AM
Stocks quoted in this article:
Ericsson Telephone (ERICY - 11-3/8) was one of a select few tech-related issues able to muster a gain in yesterday's trading. ERICY finished fractionally higher on Thursday and was able to close above its declining 10-day moving average. Resistance in the form of its 20-day moving average still looms above at 11-7/8.

From a longer-term technical perspective, the stock has pulled back to test its 40-month moving average. This trendline acted as support for ERICY in the fall of 1998 and March 1999.

In yesterday's option activity on ERICY, over 18,000 contracts on the April 12-1/2 call changed hands, making it the most-active equity call option on the CBOE. As a result, open interest on this option rose from approximately 4,200 to about 21,400 contracts.
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by 11/30/2000 1:36 PM
Stocks quoted in this article:
We have previously noted strength in the healthcare and pharmaceutical markets. Here are two more pharmaceutical companies to consider. After trading in contained flat ranges for the last two months both appear to be breaking out of their ranges this week. Today Pfizer (PFE – 45-15/16) reached its highest point since August 13. Its 10-day moving average is about to overtake its 20-day moving average, generally a bullish sign. Eli Lilly (LLY – 96-1/8) broke out two days ago, gapping up at the open and continued on to close strong on heavy volume. LLY's advance has continued now for three days and has tacked on another two percent so far today.

The most significant options activity taking place yesterday was on PFE's December 40 call, where open interest increased from 1,600 to 5,500 contracts. It would appear that most of the 4,062 contracts traded yesterday were newly opened positions. Other December strikes with large open interest include the December 40 put, with 19,600 contracts open, and the December 45 call, with 20,800 contacts open. LLY options are less active, with open interest skewed toward the call side. In the December call series, there are 3,900 contracts open at the 90-strike price, 4,300 at the 95, and 2,400 at the 100. The most action in yesterday's LLY options was the trading of 734 December 100 calls. <
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by 11/30/2000 9:39 AM
Stocks quoted in this article:
Xilinx (XLNX - 43) is poised to gap sharply lower this morning in reaction to industry competitor Altera's (ALTR - 26) earnings warning yesterday afternoon. Ahead of the news, the December 50 put on XLNX was active. Altogether, over 10,500 contracts of this option changed hands on Wednesday with approximately 9,600 contracts of the volume translating into new open interest. In this morning's pre-market action, XLNX shares were trading down almost seven points in the 36 area.
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by 11/30/2000 9:37 AM
Stocks quoted in this article:
Barrick Gold (ABX - 14-9/16) shares have recently benefited from a spike in gold prices. On November 21, ABX was able to push convincingly above its short-term 10-day and 20-day moving averages. The stock proceeded to move as high as 15 on Monday and Tuesday before retreating.

Fifteen is a key level for ABX, as it is the site of peak call open interest in both the December and January series. At yesterday's close, over 17,000 contracts of call open interest resided on the January 15 call.
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