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by 1/19/2001 9:01 AM
Stocks quoted in this article:
National Semiconductor (NSM - 28-7/8) has already added over 43 percent so far in 2001, relying on the support of its rising 10-day moving average. Today, the shares will attempt to make their first weekly close above their declining 20-week moving average since June.

It looks like some institutional players may be betting that NSM will continue its winning ways. The May 35 call saw large block activity in yesterday's trading. A pair of 5,000 contract blocks crossed the tape, at 3 and 3-1/8 respectively, with nearly all of the volume translating into new open interest. <
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by 1/19/2001 9:00 AM
Stocks quoted in this article:
Brocade Communications (BRCD - 103) is a leading manufacturer of Storage Area Networking infrastructure. The shares have benefited mightily from the resurgence in the tech sector and have now added over 56 percent from their January 3 intraday low of 65-3/4.

From a technical perspective, it is interesting to note that BRCD's recent low marked a roughly 50-percent correction from its all-time high of 133-23/32, logged in late October. In addition, the pullback was supported by the stock's newly formed 20-month moving average.

In yesterday's trading, the February 85 call was active as traders added new positions. Over 22,000 contracts changed hands on this option yesterday, with virtually all of the volume translating into new open interest.<
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by 1/18/2001 3:29 PM
Stocks quoted in this article:
Following up on our market byte on IBM (IBM - 109-3/4) posted at 9:33 a.m. ET, it is interesting that the current 13-point advance in IBM accounts for 82 points of the 117-point advance in the Dow Jones Industrial Average (.INDU - 10,701.50). In other words, IBM's rally has accounted for 70% of the .INDU advance so far today.<
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by 1/18/2001 3:21 PM
Stocks quoted in this article:
While most major indices are enjoying a strong session, the Russell 2000 (RUT - 492.46) has not joined in the festivities. After being rejected by the key 500 level yesterday (the RUT hasn't closed a day above 500 since November 8), the index gapped lower today and has traded within a narrow range a point or two below breakeven. RUT decliners are leading advancers, 939 to 818, with 135 unchanged.

Leading the laggards is Interwoven (IWOV - 28-3/16), which is off 15 percent on heavy volume even though it was reiterated a "strong buy" today. Elsewhere, Metris Companies (MXT - 24-9/16) and Manugistics (MANU - 42-1/2) are down 14.6 and 6.7 percent, respectively.
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by 1/18/2001 2:48 PM
Stocks quoted in this article:
Albertson's (ABS – 26-1/8) is the second-largest grocery name in the country and the 24th name in the Fortune 500, according to Hoover's Online. Yesterday after the close, ABS officials announced plans to divide its regionally based operations into 19 separate divisions. Daily operations, marketing, and merchandising will all be focused on separately at each division level. The plan will begin going into effect immediately.

In late August, ABS suffered a pronounced 27-percent plunge over the course of two trading days following a series of brokerage downgrades. The stock has failed to completely recover as it has not traded above the 30 region since before its gap lower. In the last five months, the shares have been trending in a sideways range between the 20 and 26 levels. ABS is an optionable stock, but its options are fairly thinly traded.
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