Techs uneven
The
triple-witch muddied Friday’s waters some, contributing to a
final-hour downdraft that left technology issues with an uneven look at the
closing bell.
The action came as the bond contract
inched down a tick two days ahead of the FOMC confab.
The rudderless climate notwithstanding,
bellwether techs displayed fortitude: Dell
[DELL>DELL] showed accumulation for the third day…EMC [EMC>EMC] and
Cisco [CSCO>CSCO] hung tough just a whisker beneath their all-time
bests…Microsoft [MSFT>MSFT] was a winner for the seventh session…Oracle
[ORCL>ORCL] remained under hot demand…3Com [COMS>COMS] stubbornly
refused to surrender any of the ground it grabbed on Tuesday’s gap-open
breakout…
As in Thursday’s session,color=#008000 face=”arial, helvetica” size=2> top-tier Internets
failed to impress…one exception
was Yahoo! [YHOO>YHOO], which is poised to attack its record best of a week
ago…
Among the color=#008000>speculative glamours, Affymetrix [AFFX>AFFX]
continues to set up…Answerthink [ANSR>ANSR] moved up 6% to stand near the
conclusion of a nine-month cup-with-handle base…CNET [CNET>CNET] piled on
13%–it’s at the top of an eight-month saucer base…Lernout [LHSP>LHSP]
poked its head out of an eight-month cup-with-handle on six times its average
trade…Liberate moved out of a short base on unimpressive volume…Netsolve
[NTSL>NTSL] followed through on its high-volume Thursday breakout, but closed
on its low, a minus…Qualcomm [QCOM>QCOM] followed through on its
lukewarm-volume Monday breakout…Razorfish [RAZF>RAZF] wasn’t as fortunate–it failed on its breakout from a seven-week cup-with-handle…Twenty-four/Seven continued to exhibit good accumulation as it recovers from a 10%-plus dent earlier in the week…
Not much to be deduced from the day’s murky
action, other than the obvious: Tech refuses to
splinter.