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by 8/10/2000 10:48 AM
Stocks quoted in this article:
Eastman Kodak (EK - 61-7/16) has stepped up fractionally this morning, as the blue-chip issue is poised to log its highest closing mark since April 17. Since its intraday bottom on July 26, the shares have risen by nearly 13 percent. This price action has prompted a bullish crossover of the equity's 10-day and 20-day moving averages, which can be an indication of near-term strength. EK has also retaken its 10-week, 20-week, and 10-month moving averages. The stock has not finished a month higher than its 10-month trendline since September. On the options front today, the September and October 60 calls have been active on volume of 3,600 and 3,037 contracts, respectively. Most of this activity is likely the creation of new positions, as the September 60 call has open interest of 669 contracts, while open interest on the October 60 call stands at 1,229 contracts.<
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by 8/9/2000 3:25 PM
Stocks quoted in this article:
Schering-Plough (SGP - 40-9/16) has dropped over 20 percent since its mid-July high under the pressure of its downtrending 10-day and 20-day moving averages. The stock is now trading below all its key intermediate-term and long-term moving averages as well. SGP's options pit is seeing some activity today. The August 35 call has seen a 5,446-contract block cross the tape near the ask, while a 6,500-contract block transacted on the February 40 call near the bid. Since these blocks crossed the tape at the same time, they are likely related. These are two of the most-active calls on the AMEX.<
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by 8/9/2000 3:25 PM
Stocks quoted in this article:
General Mills (GIS - 34-1/4) has lost nearly 18 percent of its value since a near-term peak on May 30. During this decline, the shares have encountered staunch resistance from their 10-day and 20-day moving averages. However, over the past two weeks, the equity appears to have found some support near the 34 area, a level that served as short-term support in late March. On the options front, the January 42-1/2 call and put and the January 2002 45 call and put have each seen volume of 6,000 contracts in what appears to be a related transaction. These are some of the busiest contracts on the Pacific Exchange.
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by 8/9/2000 2:18 PM
Stocks quoted in this article:
On Tuesday, Anaren Microwave (ANEN - 97-1/2) reported second-quarter earnings of 32 cents per share, exceeding brokers' forecasts of 28 cents per share. This morning, the stock's "strong buy" status was reiterated by Bank of America (BAC - 53-1/8). This combination of positive fundamental news helped ANEN gap more than 11 points higher at today's opening bell. Currently, the shares are in the black by 19 points, or over 24 percent. This surge has lifted the equity to its top intraday mark in two weeks and back above its 10-day and 20-week moving averages. According to Zacks Online, there are only four analysts currently covering the security. If ANEN is able to continue the momentum from today's advance, any new positive coverage could give it an extra boost. Options are not presently available on this long-term outperformer.<
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by 8/9/2000 2:17 PM
Stocks quoted in this article:
Circuit City Group (CC - 22-5/8) is currently sitting right on its 10-day moving average, as the shares are down by greater than three percent this afternoon. Since recording a near-term intraday high on July 11, CC has lost almost 42 percent of its value en route to dropping beneath all of its significant intermediate-term and long-term moving averages. On the options front this afternoon, investors are apparently showing their belief that this retail issue has more downside potential. The out-of-the-money October 20 put has seen volume of 1,930 contracts today. This strike has open interest of just 120 contracts, indicating that most of this activity should become new positions. This is presently among the most-active put contracts on the Pacific Exchange.
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