Tuesday, March 02, 2004

Tuesday Watch

Earnings Announcements
Company/Estimate
BIIB/.32
BJ/.65
CVC/-.45
PSUN/.42
PETM/.36
SEAC/.07
FL/.45
MVL/.17

Splits
BMS 2-for-1
HCSG 3-for-2

Economic Data
Total Vehicle Sales estimated at 16.6M for Feb. vs. 16.1M in Jan.
Domestic Vehicle Sales estimated at 13.3M in Feb. vs. 13.2M in Jan.

Recommendations
Goldman Sachs expects a very bullish tone from FLEX on their mid-quarter conf. call Thur. and thinks it has 20% upside by year-end.

Late-Night News
Jean-Bertrand Aristide, former President of Haiti, told CNN that he was the victim of a coup d'etat and would like to live in the United States. Advanced Semiconductor Engineering and other chip packagers are raising prices by as much as 20% on higher component prices and strong demand. IBM will spend $1B in an attempt to win over software developers and grab market share from MSFT, the Financial Times reported. Nigeria and Algeria have ordered intl. energy companies operating in the two countries to reduce oil output by 10 percent along with OPEC's plan to cut production quotas in March, FT reported. The Vietnamese government says it has contained the bird flu.

Late-Night Trading
Asian markets are mostly up, ranging from -.25% to +2.5%.
S&P 500 indicated +.01%.
NASDAQ indicated unch.

BOTTOM LINE: I expect tech to outperform the broad market tomorrow, as the leaders take a well deserved rest. The Portfolio is 110% net long and I will likely begin to pare positions into strength between tomorrow and Friday's employment report.

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