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by 11/9/2000 9:07 AM
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This morning, the Labor Department released the October Producer Price Index (PPI) results. Overall, October PPI rose by 0.4 percent, after rising by 0.9 percent in September. Analysts' estimates called for a more modest 0.2-percent advance.

Excluding the volatile food and energy sector, the core index decreased by 0.1 percent. This figure surprised many analysts, as they anticipated a 0.1-percent increase in core prices. Today's numbers aren't expected to have much of an influence on the broader markets, as we are still awaiting the outcome of the Florida vote recount. In response to the news, the December S&P 500 futures contract (SP/ZO - 1413.40) is up 0.10 points, which indicates a flat open.
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by 11/8/2000 4:32 PM
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Today's uncertainty about the outcome of the presidential election coupled with the recent fears arising from Cisco Systems' (CSCO-52 3/4) inventory situation has hit the semiconductor sector especially hard. The PHLX Semiconductor Index (SOX 668.8), which has already been experiencing weakness for months due to negative analysts' comments about its future, is down over six percent today.

One member of the group that has shown recent strength is QLogic (QLGC-108 5/16). This company produces integrated circuit controllers, adapter boards, and management chips for server and computer peripheral makers, including products used to interface between computers and their data storage. Late last week, the stock rallied on double its average volume after its CFO forecast continued steady growth. Now the stock is experiencing a normal pullback on lighter volume after hitting its highest price since early April (130 1/4) just two days ago. The shares are currently consolidating to the support of their 10-day moving average. Once the uncertainty in the market eases, it will be interesting to see if QLGC can continue its winning ways.
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by 11/8/2000 3:46 PM
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Online auctioneer eBay (EBAY – 52-1/4) is in the news today after announcing plans to lay off 15 percent of its staff, or about 32 individuals. Additionally, the firm's president filed to sell 100,000 EBAY shares today. In late-afternoon trading, the stock was off over eight percent, tumbling back below its 10-day and 20-day moving averages.

One EBAY option is notably active, as 1,663 contracts have traded on the November 60 call. These could wind up being liquidations on the stock's decline today, as this front-month strike is home to 3,395 open contracts. <
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by 11/8/2000 3:38 PM
Stocks quoted in this article:
Gadzoox Networks (ZOOX – 6-3/16) makes hardware and software for storage area networks. Nearly 20 percent of the company is owned by Seagate Technology (SEG - 71). Today, the stock has risen almost 33 percent on above-average volume. This rush higher was catalyzed by news that it will be the first company to show off a two-gigabit switch technology at a trade show later this year. This move boosted the stock above its short-term moving averages for the first time since September 7, but it remains just below resistance in the form of its 10-week moving average.
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by 11/8/2000 11:19 AM
Stocks quoted in this article:
Barnes & Noble (BKS – 19-1/2) operates almost 1,000 bookstores, making it the largest bookseller in the United States, with a 15-percent market share.

Today, the retailer has pushed two percent higher after announcing a positive earnings forecast for the third quarter. Ahead of the opening bell, BKS officials said that its third-quarter earnings should match Wall Street estimates. Additionally, same-store sales for the three-month period will likely show a 5.6-percent increase. The company is due to report its financial numbers on November 16 (next Thursday).

Since October 25, BKS has been muscling steadily higher, appreciating over 16 percent and overtaking its 10-day and 20-day moving averages. The stock is now butting up against its 20-week trendline, which has resided overhead since the last week of September. BKS is also flirting with resistance at its 10-month moving average. Both of these trendlines are perched around the 19-1/2-to-19-3/4 region. <
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