Tuesday, March 09, 2004

Tuesday Watch

Earnings Announcements

PII 2-for-1

Economic Data
Redbook Retail Average and ICSC-UBS Weekly Chain Store Sales

None of Note

Late-Night News
A recent survey by TEC Intl. found that 66% of the CEO's of small to mid-sized businesses plan to hire more workers, while only 6% plan on decreasing payrolls. Motorola said it is closing two semi design units in Singapore and Taiwan as it moves work to China, Hong Kong, Australia and India. Some insurance prices have started falling for U.S. businesses after almost three years of rising premiums, the Wall Street Journal reported.

Late-Night Trading
Asian markets are mixed. China and India are the standouts, up 1.24% and down 1.2%, respectively.
S&P 500 indicated +.07%.
NASDAQ indicated +.10%.

BOTTOM LINE: Not much in the way of important business news tonight. I will closely monitor the tech sector's reaction to TXN's positive conference call. I suspect tech opens a little higher and weakens throughout the day. The Portfolio is 50% net long and I will look to add shorts on any significant bounce tomorrow morning.

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