Going In With A Bias

July 5, 2001
Marc Dupee

It is always good to try to enter the
trading day with a bias. One way to do this is to look at the Market Bias
Indicators on the website. Going into the July Fourth holiday, we had six of our
market bias indicators pointing down, which indicates the momentum for the day,
initially, will be down.

Markets opened lower on earnings
warnings and continue to trade lower Thursday afternoon.

The Nasdaq is down 39.83 at 2100.97,
the Dow is down 80.05 at 10491.06, and the S&P 500 is down 11.16 at 1223.29.

The NAPM Services Index rose to 52.1
in June from May’s figure of 46.6. This is the first time since March the index
moved above the 50% level, or what the markets call boom or bust levels.

Precision Drilling
(
PDS |
Quote |
Chart |
News |
PowerRating) is
trading higher 1.22 at 32.10.

Dollar Tree Store
(
DLTR |
Quote |
Chart |
News |
PowerRating) is up 1.71
points after the company announced better-than-expected Q2
sales.

Integra Lifesciences Holdings
(
IART |
Quote |
Chart |
News |
PowerRating)
is up 1.57 points. The company received FDA clearance to market the NeuraGen(TM)
Never Guide, the company’s absorbable implant that is used to repair peripheral
nerves.

Also lower is Marconi Plc
(
MONI |
Quote |
Chart |
News |
PowerRating).
The company issued a profit warning for Q2 before the opening bell. MONI is
down 52.2 percent.

Parametric Technology
(
PMTC |
Quote |
Chart |
News |
PowerRating) is
down 2.30 points after the company announced that Q3 earnings will be less than
previously forecasted. The company is lowering their earnings forecast to be
between 2 to 4 cents from 6 to 10 cents. According to a survey conducted by
Thomson Financial/First Call, analysts’ expected earnings to be between 6 to 9
cents with a mean of 8 cents.

Going In With A Bias

BUY THE FEAR, SELL THE GREED

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