Comme Ci, Comme Ca
Nothing to
write home about, but not a bad day,
all things considered.
The Nasdaq went out with its eighth
win in nine outings, your garden variety trend day following a down open.
Volume, of course, was no great
shakes.
About twice as many glamours were in
the black as otherwise.
Among the names, Juniper
(
JNPR |
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Chart |
News |
PowerRating)
managed scant follow-through on above-average turnover after Tuesday’s breakout
of a five-week, V-shaped base.
Micrel
(
MCRL |
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PowerRating) appears to be
drawing a handle following Monday’s failed breakout of a five-month cup.
Network Appliance
(
NTAP |
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Chart |
News |
PowerRating) put in
the fourth accumulation day in the last nine sessions.
Sycamore
(
SCMR |
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News |
PowerRating) notched its
second straight inside day as it rests in the wake of a 70% runup over about two
weeks.
Ariba
(
ARBA |
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News |
PowerRating) closed well, and
within spitting distance of the top of its two-week triangle.
Internet software specialist
Interwoven
(
IWOV |
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Chart |
News |
PowerRating), which has one of the fastest sequential revenue growth
rates in the entire field of publicly-traded Web firms, cleared a two-week
congestion area on brisk trade.
Recent breakout Applied Micro
(
AMCC |
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News |
PowerRating)
steamed higher, though on volume slightly above average.
BEA
(
BEAS |
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News |
PowerRating) continued to show
good, constructive base-building.
Broadcom
(
BRCM |
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Chart |
News |
PowerRating) followed through
on Tuesday’s breakout, if on disappointing activity.
Brocade
(
BRCD |
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PowerRating) remains in idle
mode just beneath its record best.
Check Point
(
CHKP |
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Chart |
News |
PowerRating) is showing one
of the nicer bases in the growth complex, an ascending version…it’s tacked up
four accumulation days versus no distribution days over the past eight sessions.
A few stocks are acting well on the
tape…not great, but well.
Unfortunately, even if they were
acting great, there aren’t enough of them to get excited about, and surely not
enough to bring back memories of the February-March liftoff in tech.
More work needs to be done.