Make Or Break
Following Friday’s big, late session reversal that kept the Nasdaq at a
positive close after hitting a two-year low, stocks are looking at a positive
open in what is shaping up to be a crucial make-or-break week for the Nasdaq.
The Nasdaq futures are up 54 points, and the Dow futures are up 30 points.
The S&Ps look to open up 7.7 points while the yield on the 10-year
Treasury is 5.12%.
Monday Movers
Microsoft
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story this weekend, and that appears to be helping the software giant in Monday
trade. Microsoft closed Friday up 1 3/8 to 56 3/4 and is currently trading up to
57 3/4 in pre-market activity. Oral arguments will be made Monday and Tuesday
regarding Microsoft’s appeal of its antitrust ruling.
Qualcomm
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Friday that took it as low as 50 1/8 before reversing back to a 5 1/8 loss at a
closing price of 61 13/16. QCOM is currently trading up to 63 1/8 in pre-market
activity.
In the SOX, Applied Materials
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following its 7/8 gain on Friday to 47 15/16. AMAT, which held above its 50-day
moving average last week is currently trading up to 48 5/8 in pre-market
activity.
Juniper Networks
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PowerRating) is also looking at a jump Monday as well and is
currently trading up to 77 3/8 in pre-market activity.
It’s been said that turning points in market’s can occur when a widely
followed analyst turns negative, so for what it’s worth, it was interesting to
see that Prudential’s Chief Technical Analyst Ralph Acampora turned negative on
the Nasdaq on Rukeyser’s show Friday night. Stay tuned…