ORCL Moving Markets
Last
night, Oracle
(
ORCL |
Quote |
Chart |
News |
PowerRating)
reported better-than-expected Q4 profits. Initially, we bought and sold the
database company’s shares up only $.30, but they kept rising throughout the
after-hours session and basically finished where they are right now, higher by
$2 a share. The report has been a tonic for the battered Nasdaq, which had been
hit for seven consecutive sessions, but hasn’t helped the Dow. The
Industrials were up 100 points, but have sold off to negative territory and
are flirting with unchanged as up 11:20 CT.
That story helped pull analysts and investors back into tech stocks, as Salomon
Smith Barney raised their rating for Siebel Systems
(
SEBL |
Quote |
Chart |
News |
PowerRating) and shares traded up $3.40. SSB took SEBL to outperform from neutral
and CSFB upped Citrix Systems
(
CTXS |
Quote |
Chart |
News |
PowerRating) to
a buy, lifting shares of the application server software company by $2.19
a share.
Before I sound the all clear, I think
it’s important to note that Kraft
(
KFT |
Quote |
Chart |
News |
PowerRating)
is still $.56 under its IPO pricing and today’s IPO for Princeton
Review
(
REVU |
Quote |
Chart |
News |
PowerRating), isn’t even faring that well, as the company
that helps prep students for SAT, GMAT & LSAT exams came IPO at $11, but is
trading for just $9.65. My point of course, is that the market’s appetite for
new offerings is dismal at best. REVU wasn’t brought out by some lackey; J.P.
Morgan Chase underwrote it. If JPM and Goldman Sachs
(
GS |
Quote |
Chart |
News |
PowerRating) don’t have an interested following begging for hot offerings, how real
can any rally be?
Highest $ Weighted Put versus Call ratios (BEARISH):
| Symbol
|
Call
Volume
|
Put
Volume
|
$W
Call Vol
|
$W
Put Vol
|
| EMC
|
4,265
|
4,639
|
7,051
|
231,180
|
| CSCO
|
22,618
|
26,508
|
22,038
|
657,540
|
| GLW
|
5,210
|
4,533
|
6,726
|
187,402
|
| AMCC
|
1,887
|
16,680
|
3,266
|
70,926
|
| VOD
|
435
|
583
|
201
|
2,166
|
| MNX
|
3,328
|
8,551
|
23,169
|
226,526
|
| GE
|
14,869
|
37,360
|
24,113
|
136,432
|
(1010WallStreet.com has licensed
the use of Hamzei Analytics proprietary options analytics)