Dullsville
It was interesting to watch the Naz pull up to
the 50-day moving average, find resistance, then back off enough to close the
day down.
That was about the only interesting
thing to happen Tuesday.
Indecision ahead of Cisco’s earnings
number put a lid on activity.
In general, the better-performing
names kept their heads up.
Among the bells, EMC
(
EMC |
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Chart |
News |
PowerRating) jogged
to a fresh high on the third accumulation day in the last four sessions.
Elsewhere in the benchmark set,
proceedings were mundane.
In the glamours, Broadcom
(
BRCM |
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News |
PowerRating)
behaved well, pulling back on lighter volume amid a tighter range.
Ditto for Brocade
(
BRCD |
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PowerRating).
Check Point
(
CHKP |
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News |
PowerRating) cleared a
five-month high, though on unimpressive flow.
Extreme
(
EXTR |
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News |
PowerRating) poked into new
high ground out of a two-week range, going out below the lip.
Interwoven
(
IWOV |
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Chart |
News |
PowerRating) emerged from a
low-level cup-with-handle on decent volume, closing a millimeter or two above
the pivot.
Juniper
(
JNPR |
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Chart |
News |
PowerRating) rolled up its
fourth straight winner, a plus for the growth sector.
Macrovision
(
MVSN |
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Chart |
News |
PowerRating) paused after
five wins, perhaps beginning the construction of a handle.
Myriad Genetics
(
MYGN |
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Chart |
News |
PowerRating) is in the
third week of tracing a handle to go with its four-month cup.
Sanmina
(
SANM |
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Chart |
News |
PowerRating) pulled back to the
pivot of its two-week zone following Monday’s breakout.
Sapient
(
SAPE |
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Chart |
News |
PowerRating), after a two-day
pause, charged ahead anew.
Sonus
(
SONS |
Quote |
Chart |
News |
PowerRating) came under heavy
distribution, closing at its low following a 73% run in four sessions on an
intraday basis.
As mentioned Monday
in this space, there remain far fewer opportunities in the growth sector for
intermediate-term gain than a month ago.
Until this situation improves, the
only place for the intermediate player is a heavy cash position.