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by 9/22/2000 9:55 AM
Stocks quoted in this article:
After plunging to a 5-1/2 year low in late April, Parametric Technology (PMTC – 11-7/16) has managed to work its way higher. Since its April lows, the stock has appreciated over 50 percent.

Options players are apparently looking for the equity's recovery to end. Yesterday, 7,500 contracts were added to the October 10 put, making it the site of peak open interest on the shares at 10,761 contracts. This was one of the most-active puts on the PHLX on Thursday.
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by 9/22/2000 9:27 AM
Stocks quoted in this article:
Beleaguered office supply retailer Staples (SPLS – 14-7/16) has seen its value recede by 50 percent since mid-February. The stock is firmly in bear-market territory, closing 12 of the last 13 months below its 20-month moving average.

Call players liquidated positions on SPLS yesterday. The December 20 call saw its open interest decline by 13,780 contracts. This activity resulted in a significant spike in SPLS's already high Schaeffer's put/call open interest ratio (SOIR). The ratio went from a reading of 1.83 yesterday to today's reading of 3.62. For more information on SOIR, please visit Schaeffer's Daily Sentiment. <
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by 9/21/2000 3:15 PM
Stocks quoted in this article:
Ford Motor (F – 24-13/16) announced this morning that it plans to acquire the 18.5 percent of H.J. Heinz (HRZ – 31-9/16) it doesn't already own for $30 per share. In response to this news, the stock gapped 7-3/4 points higher at the open and is currently ahead by more than 30 percent on above-average volume. This dramatic upturn has lifted the shares back above both their 10-day and 20-day moving averages, trendlines they haven't closed a session above since August 18.

In HRZ's options pit this afternoon, the in-the-money December 30 call is leading the way on volume of 245 contracts. For the most part, these are likely new positions, as the option entered today's trading with open interest of just 16 contracts.


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by 9/21/2000 3:14 PM
Stocks quoted in this article:
Banking issues are struggling this afternoon, as the PHLX KBW Banking Index (BKX – 844.98) has subtracted nearly 19 points, or more than two percent. This decline has pulled the index poised to its lowest intraday level since August 4. Since tallying an all-time intraday high on September 11, the BKX has slipped back below its 10-day, 20-day, and 10-week moving averages. The 10-week trendline had held as flawless support on a weekly closing basis for the previous seven weeks.

Equities sending the BKX lower today include FleetBoston Financial (FBF – 38-7/8), down 3.7 percent; Comerica (CMA – 53-7/8), down 2.7 percent; Citigroup (C – 52-3/16), down 2.6 percent; Bank One (ONE – 34-5/8), down 2.6 percent; and J.P. Morgan (JPM – 160-5/16), down 2.6 percent.

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by 9/21/2000 2:39 PM
Stocks quoted in this article:
Online auctioneer eBay (EBAY – 70-3/8) rallied over 16 percent during Wednesday's session on heavy volume after predicting a 50-percent annual growth rate through 2005. Today, the shares are telling a different story, plunging eight percent. This decline was catalyzed by news that brokerage firm Credit Suisse First Boston downgraded the equity from a "strong buy" to a "buy" rating before the open. According to Zacks Online, prior to today, 11 analysts rated EBAY a "strong buy," 14 named the stock a "buy," and three Wall Street names listed EBAY as a "hold."
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