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by 8/30/2000 12:19 PM
Stocks quoted in this article:
The Nasdaq-100 Trust (QQQ - 98-3/8) has quietly tacked on about 10 percent during August, using its 10-day moving average as support over the last three weeks. This week, the QQQ has become sandwiched between the support of its 10-day trendline and potential resistance in the form of the round-number 100 level. Not only could 100 be a tough psychological level to overcome, it is also the site of over 11,000 contracts of call open interest in the September series.
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by 8/30/2000 12:16 PM
Stocks quoted in this article:
Juniper Networks (JNPR - 211) is gracing the Nasdaq new-highs list again today. Aiding today's rally today is news that JNPR will join the Nasdaq 100 Index (NDX – 3939.24) and the Nasdaq-100 Trust (QQQ - 98-3/16) on September 7. JNPR will replace VISX (VISX - 27-3/16), which is being delisted from the Nasdaq market. JNPR shares have added over 50 percent in the month of August.
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by 8/30/2000 12:12 PM
Stocks quoted in this article:
Morgan Stanley Dean Witter (MWD - 106-3/16) has been pushed higher with the recent strength in the brokerage sector. Yesterday's intraday top of 104-13/16 equaled an all-time high for the shares that was previously reached on August 14. This morning, MWD entered uncharted territory, trading as high as 106-5/16. This push to new heights has taken the shares above the site of peak front-month call open interest at the 105 strike. At the close of yesterday's trading, over 4,300 contracts of open interest resided at this strike.

The brokerage sector is again strong today. The AMEX Securities Broker/Dealer Index (XBD - 678.93) is up over two percent and is once again achieving new highs. <
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by 8/30/2000 9:51 AM
Stocks quoted in this article:
Donaldson, Lufkin & Jenrette (DLJ – 81-7/8) is a major Wall Street brokerage firm. DLJ shares are presently halted but are poised to open higher. This activity was catalyzed by news that DLJ will be purchased by Credit Suisse First Boston for $13.4 billion in cash and stock. DLJ shareholders will receive $90 per share, a 10-percent premium over yesterday's closing price for DLJ. Yesterday, DLJ shares rallied nearly 30 percent on extremely heavy volume in anticipation of this announcement.

The company's Internet tracking stock, DLJ Direct (DIR – 8-11/16), will not be involved in the transaction. DIR is trading almost 15 percent lower in early-morning activity.


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by 8/30/2000 9:19 AM
Stocks quoted in this article:
In Tuesday's trading, insurance issue Conseco (CNC – 8-1/4) moved ahead by over nine percent to reach its highest intraday level since July 28. This upswing was supported by the stock's 20-day moving average. The shares are now trading just below their 10-week moving average, a trendline they haven't closed a week above in a month.

In CNC's options pit yesterday, investors showed their belief that the equity has more upside potential over the near term. Open interest on the out-of-the-money September 10 call increased from about 1,600 contracts to 2,678 contracts.

Schaeffer's put/call open interest ratio (SOIR) on CNC has decreased recently, another indication that traders are showing more optimism toward the security. On August 21, the shares' SOIR stood at 0.95. Today's SOIR for the stock is 0.77. Check out Schaeffer's Daily Sentiment to learn more about SOIR.

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