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by 9/5/2000 3:01 PM
Stocks quoted in this article:
RF Micro Devices (RFMD 41-9/16) has stepped back by over four percent, or nearly two points, today to dip below its upsloping 10-day moving average. The security has not closed a session lower than this short-term trendline for the last three weeks. This retreat has the shares poised to log their third consecutive losing trading day.

In RFMD's options pit this afternoon, 5,910 contracts have traded on the September 50 put. Open interest on this in-the-money option stands at only 452 contracts, which means that almost all of today's volume should translate into new positions. This is presently among the most-active put contracts on the Pacific Exchange.

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by 9/5/2000 3:00 PM
Stocks quoted in this article:
One of the best-performing indices this afternoon has been the PHLX Utility Index (UTY 343.10), which has risen by over seven points, or more than two percent. This advance has taken the index to levels not seen since mid-June 1999. Since the UTY's near-term intraday bottom on June 30, it has stepped up by 22 percent, obtaining tenacious support from its uptrending 20-day moving average.

Leading the index higher today is Niagara Mohawk (NMK 15-11/16), which has elevated by 13 percent on news that National Grid Group (NGG 40-5/8) will acquire NMK for $19 per share, or about $3 billion. This development has lifted NMK to its highest intraday level since August 1994.

Other top UTY performers include Edison International (EIX 21-1/2), up 4.8 percent; CP&L Energy (CPL 38-13/16), up 3.1 percent; and TXU Corp. (TXU 36-3/8), up three percent.

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by 9/5/2000 1:54 PM
Stocks quoted in this article:
Citigroup (C 58-1/2) is holding on to a fractional gain this afternoon despite the broad-market sell-off. The equity has been steadily advancing along its short-term moving averages recently, rising 30 percent from its June 30 low. Currently, the shares are only one percent below their all-time high of 59-1/8 from August 28.

In C's options pit, a 1,900-contract spread trade was made between the January 41-1/4 call and the January 60 call. In addition, the December 60 call has seen two 1,000-contract blocks cross the tape between the bid and the ask. These three options are among the most-active contracts on the PHLX. <
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by 9/5/2000 1:54 PM
Stocks quoted in this article:
Wal-Mart Stores (WMT 49-15/16) is bucking the broad downtrend today with its two-percent advance. This move takes the shares above their downtrending 10-day moving average, but the stock is still staring up at its 20-day moving average, which it hasn't closed above since July 27.

The WMT October 55 call has seen volume of over 6,000 contracts today, making it the most-active call on the CBOE. Since this option has open interest of 3,157 contracts, much of today's activity should result in new positions. <
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by 9/5/2000 1:50 PM
Stocks quoted in this article:
The S&P Retail Index (RLX 817.7) has vaulted ahead by more than 15 points, or nearly two percent, this afternoon. This upward momentum has the index poised to close above its 10-day moving average for the first time since August 14. However, the RLX remains below its 20-day trendline as well as all of its significant intermediate-term and long-term moving averages.

Top RLX performers today include Home Depot (HD 50-1/4), up 3.4 percent; Target (TGT 24-15/16), up 3.3 percent; and Sears, Roebuck and Co. (S 33-1/8), up 3.3 percent. HD is also trading back above its 10-day moving average, while S is set to close at its top mark since July 20.


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