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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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by 9/5/2000 1:19 PM
Stocks quoted in this article:
Drug giant Merck (MRK 67-3/16) gapped 2-3/8 points lower at the open this morning after a brokerage firm lowered its rating on the stock from "strong buy" to "market perform." The equity is now trading below all its key moving averages.

MRK's options pit is busy today with much of the activity slanted to the put side. In late-morning trading, it appears that a 1,000-contract spread was initiated between the September 70 and October 70 puts. So far today, these options have seen total volume of 2,229 and 2,172 contracts, respectively. The September 75 put is also active with over 1,000 contracts crossing the tape. <
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by 9/5/2000 10:30 AM
Stocks quoted in this article:
GoTo.com (GOTO 22-5/8) announced that it has entered into a multi-year, $50 million contract with America Online (AOL 56-7/16) to have its Pay-For-Performance listings on the search results pages of AOL, AOL.com, and Netscape Netcenter. GOTO gapped more than two points higher at this morning's opening bell in response to this development and is presently ahead by over three points, or almost 17 percent. The shares have reached levels not seen since May 10.

In GOTO's options pit today, 973 contracts have crossed the tape on the in-the-money February 20 call. This strike has open interest of just 138 contracts, so most of this volume should translate into new open interest.

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by 9/5/2000 10:29 AM
Stocks quoted in this article:
PSS World Medical (PSSI 4-11/32) has plunged two points, or nearly 32 percent, lower this morning on news that Fisher Scientific International (FSH 30-3/8) ended plans to buy the medical-supply distributor for $746.9 million. PSSI has dropped to an all-time low this morning, while FSH is trading at levels not seen since June 22.

FSH has stepped up by over eight points, or greater than 38 percent, so far today. The stock is trading above its 20-week moving average, which it hasn't finished a week above since late April. The shares are also above their 20-month trendline for the first time in three months.

Options are not available on FSH, while options activity on PSSI has been quiet.

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