Yesterday's onslaught was still on the minds of some investors as they took advantage of the early rally to exit positions. Our own James Cramer explained why he tries to take some money off the table on the way up.
After rising more than 100 points on the opening the
was recently in negative territory down 47 or 1% at 4860.92. The Comp topped the 5000 level, earlier reaching today's high of 5013.4, which was still below yesterday's high of 5027.73.
Losses in the biotech sector have helped weaken the rest of the tech sector.
TheStreet.com Internet Sector
index was up 5.31, or 0.4%, at 1298.28, though it would be in negative territory if not for
, which was up 19 1/4, or 10.2%, at 208 1/4 following its wireless announcement this morning. The DOT reached a session high of 1347.04 and saw selling as it approached the all-time high of 1350.16 from March 10.
TheStreet.com New Tech 30 was down 37.62, or 4.4%, at 823.18.
While traders have been eager to sponsor dips such as what was seen yesterday, they may be a little less reluctant to buy into a second straight day of weakness.
Among the stocks that have seen fluctuation was
. It was recently down 14 5/16, or 6.2%, at 217 after trading as high as 236 3/4. In case you missed it, our own
presentation at last week's
Chase H&Q plaNET.wall.street
Also on the downside was
after it dropped 8% yesterday on
news that it was buying
. i2 traded as high as 195 1/8 today, but was recently down 8 15/16, or 4.7%, at 182 1/4.
were down for the second straight session. It was off 27 1/2, or 9.6%, at 258. Losses likely were coming on profit-taking after the stock rallied from 249 on March 8 to 317 1/2 on March 10. Note also that the stock faces release of locked-up shares later this month and next month. According to
documents, around 1.6 million shares will come off lockup on March 20, but on April 20, 20.5 million shares will come off lockup. According to the company, the stock currently has a float of around 8.8 million shares, with 32 million shares outstanding.
Internet Capital Group
was down 9 11/16, or 7.5%, at 119 3/8 after trading as high as 134. According to
, 35 million shares came off lockup restrictions today.
also was seeing profit-taking after reaching a high of 296 3/4 on March 10. It was down 16 1/2, or 6.5%, at 237 1/2 after trading as high as 265. And
, which began trading at a post 3-for-1 split price today, was up 6 5/8, or 8.7%, at 83 1/8.