Bulls Like MSFT And CSCO, Bears Looking At PMCS And MU

• May 7, 2001
• Jon Najarian

I’m fresh back from a seminar
and book-signing tour in Salt Lake City and Las Vegas. The opportunity to meet
and greet individual investors is always eye opening and fun, especially when it
occurs in cities that have as much to offer as SLC and Sin City! I don’t know
if I’ll be able to wait for www.TradingMarkets.com’s
big confab this October before getting back to Vegas, as the weather, outdoor
and indoor sports were just too good! Ah, now that I’ve got that out, let’s
take a look at what’s moving in the markets today.

On the bearish side, PMC Sierra
(
PMCS |
Quote |
Chart |
News |
PowerRating)
is only down $.80, but the puts are getting decidedly more action than the
calls, especially on our dollar-weighted scan. Likewise, Micron

(
MU |
Quote |
Chart |
News |
PowerRating) and Ariba
(
ARBA |
Quote |
Chart |
News |
PowerRating) are
heavier on the dollar-weighted put side of trade, but nothing is really so
compelling that we have to bail, or take short positions, so we’ll bide our
time waiting for short trading ops.

Symbol color:black”>

Call VolumePut Volume$W Call Vol$W Put Vol

PMCS color:black”>

color:black”>2,355 color:black”>5,191 color:black”>3,488 color:black”>19,577

ARBA color:black”>

color:black”>1,549 color:black”>207 color:black”>2,129 color:black”>9,340

MU color:black”>

color:black”>1,711 color:black”>9,936 color:black”>6,453 color:black”>25,544Action on the bullish side is a little clearer, as Microsoft ( MSFT | Quote | Chart | News | PowerRating), Brocade ( BRCD | Quote | Chart | News | PowerRating) and Cisco ( CSCO | Quote | Chart | News | PowerRating) are seeing more commitment by selected institutional traders. I particularly liked the action in MSFT and CSCO, as numerous large blocks are hitting on the call side, indicating the accumulations we noted last week are still going on in the networking giant’s and software kingpin’s shares. Symbol color:black”> Call VolumePut Volume$W Call Vol$W Put Vol MSFT color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> BRCD color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> CSCO color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> SPX color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> mso-fareast-font-family:”Arial Unicode MS”;color:black”> (1010WallStreet.com has licensed the use of Hamzei Analytics proprietary options analytics)