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by 8/18/2000 3:54 PM
Stocks quoted in this article:
WJ Communications (WJCI - 32-1/8) creates broadband products to aid in voice, data, and wireless transmissions worldwide. Today, the stock debuted on the Nasdaq Composite (COMP - 3931.8) in a 5.4-million share initial public offering led by Chase Manhattan/Hambrecht & Quist. The equity opened this morning trading at the $34 level, more than twice the $16 initial offering price set by the brokerage house. Just before the close, WJCI was boasting a 100-percent gain for the session. The stock is one of the most-active equities on the Nasdaq today.
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by 8/18/2000 3:49 PM
Stocks quoted in this article:
AT&T Canada (ATTC - 33-13/16) is benefiting from this morning's report that AT&T (T - 32-1/8) has held conversations with British Telecommunications (BTY - 127-1/2) to explore a possible union between the two companies. ATTC has pushed ahead by just more than four percent this afternoon, reaching its top intraday mark since July 10. Since tallying a near-term intraday bottom on July 28, the equity has advanced by over 16 percent, obtaining vigorous support from its upsloping five-day moving average. The security is also perched just below its 10-week moving average, which it hasn't finished a week higher than in about two months.

In ATTC's options pit today, a spread transaction apparently has occurred between the August 35 and October 30 puts. The in-the-money August 35 put has seen volume of 2,225 contracts on open interest of 4,700 contracts. As for the October 30 put, 8,000 contracts have transpired at this out-of-the-money strike. Open interest on this option, which is now the most-active put on the CBOE, is just 45 contracts. This suggests that today's volume will become new open interest.
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by 8/18/2000 2:13 PM
Stocks quoted in this article:
The S&P 500 Index (SPX - 1490.37) has continued its battle with the psychologically important 1500 level this afternoon. The index mustered a rally as high as 1499.47 before being turned back. Incidently, yesterday's intraday high was 1499.46 before the barometer eased lower to close at 1490.71.

Not only has the 1500 level been a source of key technical resistance, but the August 1500 strike is a site of heavy call open interest. After Thursday's trading, nearly 26,000 contracts of open interest resided at this strike. By comparison, the August call with the next highest open interest is at the 1600 strike, where only about 10,800 contracts reside.
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by 8/18/2000 2:11 PM
Stocks quoted in this article:
The September 30-Year U.S. Treasury Bond Futures contract (US/U0 - 100-4/32) is again moving to the upside in today's trading. The contract is back above the key 100 level. On August 10, the contract was able to close above this level for the first time, but it closed 13 ticks lower the following day. On Monday, the contract closed right on this key level. The rally in the US/U0 over the past month has been aided by technical support from the ascending 10-day and 20-day moving averages.
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by 8/18/2000 1:04 PM
Stocks quoted in this article:
Last night after the close, ADC Telecommunications (ADCT - 43-3/4) reported fiscal third-quarter earnings of 17 cents per share, two cents better than expected. This news prompted analysts' upgrades as well as one new "buy" rating. The stock bolted out of the gate, 2-5/8 points at the opening bell, but it has weakened throughout the session and has given up all of those early gains. On the options front, almost 5,000 contracts have crossed the tape on the September 40 call so far today. This option boasts open interest of 9,022 contracts.
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