February 15, 2002
The Dow retreated 1% to close at 9903 on higher volume. The Nasdaq 100 closed down 2.5% at 1436, continuing the down-trend.
Concerns about accounting practices at IBM drag the tech sector down. (more)
Gold futures hold above $300, ahead of the Presidents Day long weekend. (more)
Australia - ASX
The All Ords failed to hold above the 3425 resistance level, closing down at 3420 on higher volume. The Slow Stochastic is below its signal line.
Analysts optimistic about Australian stocks
The risk of major earnings disappointments is lower than in the US and 2002 double-digit returns are within reach. (more)
Analysts believe that the ear implant developer will meet its' long-term 20% growth target - despite a first-half net profit rise of 8%. (more)
Scepticism over December-half results: boosted by the collapse of the South African rand. (more)
Short-term: The Slow Stochastic is below its signal line. Avoid further new entries.
Long-term: Wait for a correction on the secondary cycle.
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