Portfolio down 0.05%, Dow up 0.09%, Nasdaq down 0.26%, S&P500 down 0.12%, Gilder up 0.1%, Meisler down 0.5%, J-Blimps down 0.6%, Fuel cells/Alt energy up 4.6%
NYSE Volume: 674 mln...Adv: 1420...Dec: 1329
Nasdaq Volume: 1.2 bln...Adv: 2137...Dec: 1760
Put/Call ratio 0.50 (Range 0.38 to 0.50) Bullish in the morning
Sector Watch
No sector mocved 2% either way. Indicative of the flatness today.
Portfolio Watch
BRZE up 3.81% No news. PTEN down 2.73%. Gas prices eased after run-up.
Other stocks.
PLUG up 18% to push the feul cell stocks higher. Plug loses pres. and CEO today and Chase H&Q reiterates coverage of PLUG at Buy. Hard to believe that this was responsible for the jump.
EMLX. The Angel of Alchemy thread is a good recap of the hoax of the year today.
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Short EMLX @ 111. KevinMark at 9:48
Yep saw that down 4th qtr earns revision ....good short too 2Mars 9:49
It's dead! But then again, maybe "sirauthurthomas" will take the other side and prop it up! Bwhaaaaahahahahaha! Kevinmark 9:52
EMLX is dead....;-) 2Mars 10:13
Yeau, their sticking it good, aren't they! Nice! Maybe sirauthurthomas' arzz is burning right now, because I'm the contrarian indicator! Hahahahaahahahahah! Kevin Mark 10:15
For those who missed the EMLX bad news here it is , great short:
Emulex Announces Revised Earnings
COSTA MESA, CA, Aug 25, 2000 (INTERNET WIRE via COMTEX) -- Emulex Corp.
(Nasdaq: EMLX), the world's largest supplier of fibre channel adapters, announced that last quarter's earnings will be revised and will fall short of previously announced Net income for the fourth quarter of fiscal will be revised to a loss $0.15 per diluted share, compared with net income of $3.0 million, or
per diluted share, for the same quarter a year Earnings for Q4 were reported as $0.25 per share, due to compliance with generally accepted accounting principles, revisions were made. Net Earnings for fiscal 1998 and 1999 will also be revised. A press release with more detail will be submitted today at 5:00 pm
EST.
Emulex is a leading designer, developer and supplier a broad line of Fibre Channel host adapters, hubs, and software products that provide connectivity for Fibre Channel storage area networks (SANs), network attached storage (NAS) and RAID. The products are based on internally developed technology, and are
deployable across a variety SAN configurations and operating systems, enhancing flow between computers and peripherals.
Emulex's products offer customers the unique combination of critical reliability, scalability and performance, and can be customized for mission-critical server and storage system applications. Emulex products have been selected by world's leading server and storage providers, including Compaq,
EMC, Fujitsu-Siemens, Groupe Bull, Hitachi Data Systems, IBM, NEC and In addition, Emulex includes industry leaders Intel, McData, Microsoft, Legato and VERITAS its strategic partners.
EMULEX -- the fibre channel company
``Safe Harbor'' Statement under the Private Securities Reform Act of 1995: With the exception of information, the statements set forth above forward-looking statements that involve risk uncertainties. The company wishes to caution readers that a number of important factors could cause results to differ
materially from those in the statements. Those factors include the the fact that the company's markets are characterized by rapidly changing technology, evolving standards and frequent introductions of new and enhancements, and the company's ability respond to such changes; maturation in the network server and printer server products; the fact the fibre channel market is at an early stage of development; the highly competitive nature of the markets for the company's products; the company's ability to attract and retain skilled personnel; the reliance on third party suppliers for components used in the company's products
and on manufacturing subcontractors that assemble anddistribute the company's products; the company's reliance on certain OEMs, distributors and key customers; and potential fluctuations in the company's effective tax rate. These and other factors which could cause actual results to differ materially those in
the forward-looking statements are also in the company's filings with the Securities Exchange Commission, including its recent filings Form 10-K and Form 10-Q.
Note to Editors: This news release refers to various and companies by their
trade names. In most, not all, cases these designations are claimed as or
registered trademarks by their respective companies.
CONTACT: Robin Schnug
Emulex Corp.
714-513-8152
Copyright 2000 Internet Wire, All rights reserved.
Posted by 2Mars 10:15
EMLX----------> it is dead dead dead ! down 37pts OooooooH My !!!!
cha cha ching! :-)) 2Mars 10:16
+35 and counting baby! Titanic 2, the sequal!!!!!!! LMAO!!!!!!!!! Kevinmark 10:21
Have to do this just once ----> Bwaaaaaaaahaaaaahahah!!! LMAO!!! down 45pts !!! 2Mars 10:22
QLGC-just fell off a cliff too-------sympathy play with EMLX Richard Busky 10:22
Couldn't of happened on a better day, after 9 straight up days on the Nasdaq!!!!!!!!!!!!!!!!!!!!! Kevinmark 10:23
emlx down 47 - I think it just filled it gap. 2mar$ do you have this guy short?? Wes Stevens 10:24
EMLX -- what was the news? Can't find anything on it. Don't have the stock, just curious how you guys knew it was going to tank. BarbaraT 10:25
EMLX -63 Unbelievable...there were so many momos in this stock past 9 up trading days ...they can't get off the ship fast enough covering here soon ....oh my o my o my!!! made my millenea! :-) 2Mars 10:25
Had it on my list to short due to it's run up. I shorted yesterday and saw that it was to strong, so I covered. Shorted this morning in pre-market. Caught wind of the revised earnings after holding for awhile. Would have held regardless due to the recent run up in the Naz! Kevinmark 10:28
I keep shakeing my head on the rise of emlx. I should have shorted. Smartmoney 10:28
EMLX halted. Smartmoney 10:29
You bet....caught that news and didn't hesitate ...that kind of news is death!!!!
called it in mIRC ------>EMLX – 68 2Mars 10:29
F#%#...they halted it!!!!!!!!!!!!!! 2Mars 10:29
I just tried to cover! Hopefully they'll open it lower! Hehehehe! Kevinmark 10:30
Holy Moly, I've been trading in and out of EMLX for the last several days. Just lucky to be out when the poop hit. How on Earth do they mistate earnings by that much and correct it this quickly?
I'm almost always look for a dead-cat-bounce entry on a stock down this much, but it's just too scary. It could easily go to the 20's. I think it's halted right now. Kevinmckenzie 10:30
that news is death for sure. but you have to be real quick. Congrats WesStevens 10:32
Thanks 2Mar ... it's not on any of my news services (guess they are all delayed). Where did you get this .. Yahoo? BarbaraT 10:33
Kevin, I think you're safe on EMLX. It was in the low 40's and dropping on 8/3, the day before they announced the inflated earnings. Kevinmckenzie 10:33
monster trade ...just a monster...2Mars 10:33
EMLX from Briefing....Announces resignation of CEO as SEC launches investigation. Smartmoney 10:33
This one is real strange. I thought it was only the software firms that could get caught in this??? With hardware there should be no issues. You ship the hardware and you book. Something really stinks here. Don't try and play the bounce on this one. WesStevens 10:34
EMLX...Well the news wasn't evertywhere ...and it was trying to follow the gap up....
it was perfectly set up a play as you could ask for ...9 days of going up and then they
warn right after the open....amazed! Kevin faster than me ....i got shares $109 <gg> 2Mars 10:35
Barb...you should seriously to purchase a news package, that particular release came over News Traders...2Mars10:42
What a brilliant call!!! <EMLX short at 111> Kevin, you are a master and have something money can not buy. Smartmoney 10:42
These guys are in big trouble. A friggin triple in the last month, so these arzzwhipes could get out on BS PR's! Can you spell.... L-A-W-S-U-I-T-SSSSSSSSSSSSSS! Kevinmark 10:42
Thanks for the news. I was kind of mad that I got out after taking 30% and missed the double. This is a mess. I see a lawsuit. Jackhartmann 10:45 (Slow as always)
EMLX single handed trashed the whole market. More money lost on the market than EMLX, for sure. I should sue them. Smartmoney 10:48
No kidding. Everything going red JackHartmann 10:50 (Note I sell PUMA then fearing the Nasdaq collapse imminent)
EMLX took attention away from the rest of the market. Sort of like a tractor trailer wreck on the side of the highway.....everyone slammed on their brakes to take a look. Spincity 10:51
Barbara, I shorted this am, because it was way overdone and then had a friend of mine alert me to the revised earnings. Kevinmark 10:52
here is what the problem with EMLX is going to be on the open--so many shares -sell orders-stop losses etc got taken out so fast -shares for sale may be hard to come by. This is thin on island. Use caution friends! Spincity 10:54
here is what the problem with EMLX is going to be on the open--so many shares -sell orders-stop losses etc got taken out so fast -shares for sale may be hard to come by. This is thin on island. Use caution friends! BarbaraT 10:54
Kevin, Congratulations ! I don't think I've ever seen a better call. :) Jo Ellen 10:57
I've been weighting for a pullback for 5 straight days now. People who are throwing money at any and every Fibre Optic should really rethink about that strategy, because your going to see a lot more of these type falls in this sector. This only the start for more to come IMHO! Kevinmark 10:58
WOW -- CNBC says EMLX news may have been a HOAX! Eom Vagabond 11:02
Yes , i was tooo....wait a minute, look here??---> Emulex Corporation-EMLX 'News was a hoax' from CNBC _ Stay tuned Rumors Oh that is terrible...someone is going to fry! 2Mars 11:02
The rest is history. Needless to say, I watched the story unfold and totally ignored anything else.
Jack |
