| Bill Gates - You Asked The Questions
Over two hundred were seeking jobs, one gentleman was proposing himself as the next CEO of Microsoft, and another wondered whether the secrets of Windows software had been recovered from a crashed UFO. We did not ask that one, but managed to get through around fifteen questions during our allotted fifteen minutes. As ever, Mr Gates appeared very well briefed. Yes, Vista was a success, despite the frustrations expressed by Barry from London. Sure, he understood the anger felt by people like Daniel from Aberdeen about the reliability of the Xbox 360, but it was being sorted. Yes, Microsoft had missed some trends - the importance of search - and perhaps over-estimated others -the tablet computer, for instance. And no, Mr McInerney from Southampton, there isn't a single Mac to be found in the Gates household.
Tech Is Walking the Bear-Market Walk
WHEN THE MARKET LIMPED into the weekend after a dreary start to the new year, one of the biggest casualties was the computer hardware sector. Considering that the high-flying Apple is one of its more prominent members, that is saying something. Technology in general is starting to walk the bear-market walk. Computer hardware was thumped last week. Semiconductors have been sliding since July. And networking has confirmed a major technical topping pattern. Clearly, something is not well and risk levels remain high. In technical analysis and trading in general we are often advised to trade what we see and not what we think. While many still believe the economy is sound or at least not heading towards recession the tech sector is walking a different walk. I won't pretend to know where the economy is heading but if a growth-stock area such as technology is heading south then I've got to believe that the stock market is trying to tell us something.
Oil follows stocks higher on Fed cut
Oil futures followed stocks higher Wednesday after the Federal Reserve cut a key interest rate, raising hopes that rate cuts and congressional stimulus efforts will stave off a serious economic slowdown. Crude prices initially wavered when the Fed announced its half percentage point cut; many energy investors were hoping for more. But energy traders were also keeping an eye on the stock market and the dollar. When stocks rose, and the dollar fell, buyers jumped into the oil market. "Oil went up when the equity market rallied off the news," said Jim Ritterbusch, president of Ritterbusch and Associates in Galena, Ill. Energy investors often view stocks as a proxy for economic growth. Also, crude futures offer a hedge against a falling dollar, and oil futures bought and sold in dollars are more attractive to foreign investors when the greenback is falling.
Nasdaq Threatens To Lodge 9th Straight Loss
Stocks were following a by-now-familiar pattern: An early attempt at the upside was fizzling. The Nasdaq, which had climbed 0.9% early in the day, had fallen 0.1% by 12:55 p.m. EST. The Dow and S&P 500 each had whittled away all but 0.1% of their gains. Volume was running higher across the board. When the market falls into a correction, often the leading groups fall harder than most. Such is the case today in the solar-power family, a group of stocks that had been soaring for months. First Solar (FSLR), a leader in the industry, plummeted 17.80 to 212.70 and sliced through its 10-week moving average. SunPower (SPWR) fell 8.62 to 106.5. It had lost its 10-week line Monday. JA Solar (JASO) fell 6.72 to 65.55, but still stood above its 10-week line. Suntech Power Holdings (STP) slid 8.33 to 66.77.
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