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by 9/27/2000 12:21 PM
Stocks quoted in this article:
VerticalNet (VERT – 33-11/16) gapped up over 12 percent at the open this morning on encouraging words from analysts and from the company's chairman, Mark Walsh. The stock is in need of a boost since losing 50 percent from September 5 to yesterday's low. The shares appear to have found support near the 30 area, a level that served as the top of a trading range for much of 1999 and acted as support in April and May of this year.

Schaeffer's put/call open interest ratio (SOIR) for VERT stands at a low reading of 0.3, which means that call open interest outweighs put open interest by a margin of over three to one. For more information on SOIR, please visit Schaeffer's Daily Sentiment.
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by 9/27/2000 12:21 PM
Stocks quoted in this article:
More bad news for Lernout & Hauspie (LHSP – 11-5/8) has sent the stock to its lowest level since early January 1998. Last night, the company said that its revenue and earnings for the third quarter will fall short of analysts' projections. The equity is off over 17 percent in midday trading. The shares have plunged over 45 percent since the close on September 20 after it was announced that the SEC would be investigating the company's previous financial statements.

It's no wonder LHSP's options configuration is slanted to the put side. For options expiring within the next three months, put open interest exceeds call open interest by 60 percent. Today, 1,100 contracts have changed hands on the October 15 put on open interest of 2,018 contracts. These options traded between the bid and the ask, making it difficult to guess the investors' intentions.
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by 9/27/2000 11:34 AM
Stocks quoted in this article:
On Tuesday, Tibco Software (TIBX – 88-3/8) posted third-quarter earnings of seven cents per share, topping analysts' forecasts by two cents per share. In reaction to this positive earnings surprise, the stock gapped nearly 10 points higher at this morning's open and reached as high as 96-3/4 before reversing. The shares are now in the black by nearly four points, or more than four percent, as they are trading back below their 20-day moving average. TIBX has not closed a session above this short-term trendline since September 8.

Short interest on the equity has soared since mid-April, rising from a mere 169,871 shares to August's reading of 2.53 million shares, an all-time high. If TIBX is able to maintain today's upward momentum, a short-covering rally could ensue, which might give the security an extra boost over the near term.


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by 9/27/2000 10:53 AM
Stocks quoted in this article:
The CBOE Internet Index (INX – 503.57) is down more than 12 points, or over two percent, in late-morning trading to fall to its worst intraday mark since August 15. Since logging a near-term intraday high on September 5, the index has stepped back by 16 percent. The INX is now trending below all of its significant moving averages.

Leading index underperformers so far today have been CMGI Inc. (CMGI – 28-1/4), down 6.7 percent to register an annual low; DoubleClick (DCLK – 33-15/16), down 6.5 percent; Yahoo! (YHOO – 96-3/4), down 5.6 percent; eBay (EBAY – 67-9/16), down 4.5 percent; and Amazon.com (AMZN – 38-7/16), down 3.3 percent.


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by 9/27/2000 10:03 AM
Stocks quoted in this article:
Amgen (AMGN – 71) has been confined in a trading range between 64 and 76 for the past two months. Yesterday, the stock pushed off its 20-day moving average to reach the middle of its range. The equity has gotten off to a sluggish start this morning with an early fractional loss.

Yesterday, open interest on the January 2002 60 put increased by 9,010 contracts, making it one of the most-active puts on the AMEX. This is now the site of peak put open interest on the shares. <
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