This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Get Tech Insight From Latest Earnings

Traders can attempt to capture the technology sector's remaining upside momentum, but deciding whether to add to holdings in this group is a tough call if you are a long-term investor. That said, technology remains the cheapest sector in the market according to my model, at 13.2% undervalued. Its weekly chart profile would stay positive on a close this week above the five-week modified moving average at 2137. With my quarterly risky level at 2319, the upside to the end of the year appears to be limited to 6.4% above Tuesday's close of 2178.

Leading technology higher is the Nasdaq 100 Unit Trust (QQQQ), which tested $40.91, a level not seen since January 2002. The upside into year-end is my quarterly resistance at $42.51. Weekly support lags at $39.04.

Semiconductors generally lead the Nasdaq higher, a key sector represented by the Philadelphia Semiconductor Index. The group is showing some improvement, but that improvement looks limited. The SOX's weekly chart profile will shift to positive at Friday's close if it's above its five-week modified moving average at 451.25. My monthly pivot is 438.20 with my quarterly resistance or risky level at 487.90, which should curb upside for the SOX.

Soon, we'll have more insight not only into semis but computer manufacturing and software. Together these are my three focus industries, and this week's tech stock earnings reports include both undervalued and overvalued companies in all three groups. By Friday morning, we will know whether demand for semiconductors remains strong, and if that demand is leading to business for leading semi equipment maker Applied Materials (AMAT).

Will Marvell Semiconductor (MRVL) achieve yet another 52-week high despite being more than 20% overvalued? Is Network Appliance (NTAP) taking market share from storage leader EMC (EMC)? Does Autodesk (ADSK) have the momentum for new highs despite being 15% overvalued? Is the turnaround at Hewlett-Packard (HPQ) on track?

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs