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by 11/7/2000 2:31 PM
Stocks quoted in this article:
Rainbow Technologies (RNBO – 26-1/2) makes security software. Today, the stock has rallied nearly 16 percent to plant its flag at a new all-time high of 27-1/16. Following last night's close, Standard & Poor's announced that the software manufacturer would replace Chiquita Brands International (CQB – 1-7/16) in the S&P 600 Small-Cap Index (SML - 217.62). The ousted beleaguered banana issue has logged a 26-percent decline to register a 15-year low at 1-3/8. <
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by 11/7/2000 10:25 AM
Stocks quoted in this article:
Yesterday's volume on both the Dow Jones Industrial Average (INDU - 10,977.2) and the Nasdaq Composite (COMP - 3,416.2) were the lowest totals in nearly two months. In fact, despite the strong day on the INDU, the regular session volume total of 931 million shares was the second lowest total since September 11. Only the October 9 total of just 714 million shares was lower. Similarly on the COMP, yesterday's volume total of 1.583 billion shares was the second lowest since September 21 (bested only by a 1.402 billion-share day on October 9), a span of nearly seven weeks. The low volume may be attributable to investors staying on the sidelines ahead of both today's Presidential election and Thursday's release of the October Producer Price Index (PPI). If so, today's volume can be expected to be light as well.<
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by 11/7/2000 9:45 AM
Stocks quoted in this article:
A newswire reported this morning that storage-drive manufacturer Seagate Technology (SEG – 74-3/8)is in a supply pact with Microsoft (MSFT – 70-3/16). The company will reportedly provide hard drives for MSFT's Xbox video game system, which is due in stores in fall 2001.

SEG has been steeped in a long-term trend higher for the past year, nearly tripling in value since its October 1999 low. This consolidation higher has been contained at the equity's ascending 10-month moving average. From a shorter-term perspective, SEG gapped above its 10-day and 20-day moving averages on Friday. These short-term trendlines subsequently exhibited a bullish crossover.

In early-morning trading, both SEG and MSFT are exhibiting minor gains. <
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by 11/7/2000 9:19 AM
Stocks quoted in this article:
With the presidential race destined to go down to the wire, it will be interesting to watch the gyrations in the AMEX Pharmaceutical Index (DRG - 426.0) today as election returns become available. Currently, the index is positioned a chip shot from an all-time high. The DRG has receded in the past week but has found support from its 20-day moving average. Conventional wisdom holds that a George Bush win would benefit pharmaceutical companies, while an Al Gore victory may place pressure on the group.
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by 11/7/2000 9:14 AM
Stocks quoted in this article:
Starbucks (SBUX - 46-3/4) stealthily moved to an all-time high last Friday, moving above the 45 mark, a level that provided resistance in March. Yesterday the stock pushed to another new high of 48-3/16 before reversing to close fractionally lower for the day. From a longer-term technical perspective, SBUX has found reasonable support from its 20-month moving average since mid-1995. Despite the rally in the security, short-interest speculators remain willing to bet against the stock. Currently, the short-interest ratio stands at 4.8 times the average daily volume, the highest such reading over the past 18 months.
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