The Daily Workshop Report
by Robert Sheard (TMF Sheard)

LEXINGTON, KY. (January 31)

Technology stocks got unplugged today, wires sparking and circuits frying throughout the day. Late yesterday CISCO SYSTEMS <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: CSCO)") else Response.Write("(Nasdaq: CSCO)") end if %> reported earnings a penny better than estimates and offered an upbeat conference call afterwards, but it wasn't any help.

Today the entire sector came tumbling down, with analysts downgrading the bellwether stock in the sector, INTEL <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: INTC)") else Response.Write("(Nasdaq: INTC)") end if %>, simply based on its recent price run-up.

Shortly thereafter, the whole technology sector began a gentle slide which accelerated late in the day as the overall market stumbled and fell on its keister.

Some of the stalwarts in our growth screens dropped as much as 8% to 10% today. Names like APPLIED MAGNETICS <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: APM)") else Response.Write("(NYSE: APM)") end if %>, 3COM CORP. <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: COMS)") else Response.Write("(Nasdaq: COMS)") end if %>, PEOPLESOFT <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: PSFT)") else Response.Write("(Nasdaq: PSFT)") end if %>, WESTERN DIGITAL <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: WDC)") else Response.Write("(NYSE: WDC)") end if %>, and MICROSOFT <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: MSFT)") else Response.Write("(Nasdaq: MSFT)") end if %> all joined the parade down Ugly Avenue.

A few bright spots existed today, however. Recent losers AMERICAN POWER CONVERSION <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: APCC)") else Response.Write("(Nasdaq: APCC)") end if %> and COACHMEN INDUSTRIES <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: COA)") else Response.Write("(NYSE: COA)") end if %> joined ANHEUSER-BUSCH <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: BUD)") else Response.Write("(NYSE: BUD)") end if %> on the winners' tote board with gains of roughly 2% each.

Need to lick your wounds? Want to commiserate with others? Want to gloat because you shorted the world yesterday? Stop by my Novice Investors chat tonight at 9:00 eastern. I'll answer what I can. If I can't answer you, I'll pass the buck shamelessly. See you there.

Monthly Growth Screens
     (Jan. 3 to present)
19.14%  Relative Strength  
17.92%  YPEG Potential  
  7.84%  Low Price/Sales  
  4.04%  S&P 500 Index  
  2.52%  Investing for Growth
 -6.76%  Unemotional Growth  
 -9.23%  EPS Plus RS

Annual Value Screens
     (Jan. 1 to present)
  4.72%  Dogs of the Dow  
  4.63%  Dow Jones Ind Avg  
  4.06%  Beating the S&P  
  0.39%  Dow Combo  
  0.00%  Unemotional Value  
  0.00%  Beating the Dow  
 -2.05%  Foolish Four