An NYSE Scalper's Tale - A Trader's Diary

Tuesday, April 04, 2006

What I'm Watching For Wed Apr 5, 2006

Citigroup (C) was up quite a bit today and cleared the $48 level on news that it's one-year ban on mergers and acquisitions has now been lifted. Now that's it's cleared the $48 level (which it has tried to test a few times in late March), let's see where it goes. Citigroup closed at $48.21.

Maxtor Corp (MXO) was down almost 5% in after-hours. This after it lowered guidance and expects to lose 39 to 40 cents a share vs. the analyst average of a loss of 18 cents a share. It stated that it's pending merger with Seagate Technology Inc (STX) had a negative impact on it's sales. On that note, Seagate Technology Inc (STX) was also down in after-hours. MXO closed at $10.08, STX closed at $27.69.

Advanced Micro Devices (AMD) has been downtrending, however since mid-March, it has tried (but failed) to close below $33. Could this be the support AMD is looking for? We'll see in the next little while where it goes from here. AMD closed at $33.43.


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