March 9, 2009 (FinancialWire) (By Genevieve Hawkins) Wall Street endured another brutal sell off last week, and with the possibility of more bank troubles there is a threat of a continued market decline. Last week news that unemployment had climbed to 8.2% capped off more stalled economic rescue attempts, sending the Dow down 6.2%, while the Nasdaq dropped 6.1% and the S&P 500 dropped 7%. With bargain hunters being swamped by bouts of panic as the economic system moves from bad to worse, it's difficult to envision what will finally snap the market's losing streak. With contrarian thinking being so heavily rewarded, however, stocks may notch a winning week just because so many things seem against that happening! For the coming week investors will be watching for news regarding GM's ability to survive outside of bankruptcy and reports on bank viability. Economic news for the coming week will include a survey on consumer sentiment and one on February retail sales. The markets are down an additional 20% since Barack Obama became president just seven weeks ago, and hope for change seems less likely to save the day now that the election is over. Bargain hunters may come back but it's difficult to work their strategy when stocks are consistently moving down in value. The Investrend Earnings Calendar features ABM Industries (NYSE: ABM), expected at $0.19; Central European Distr. (NASDAQ: CEDC), expected at $1.03; Conseco (NYSE: CNO), expected at $0.29; Franklin Electric (NASDAQ: FELE), expected at $0.38.

The Investrend Events Calendar showcases ANSW, ADEP, GSIC at Security Research Associates Winter Technology Conference; AZO, LTM at Stifel Nicolaus 2009 Consumer Conference; BWLD, DMAN, VZ, WLP at Raymond James Institutional Investors Conference; HUM at FTN Equity Capital Markets Investor Meetings; TXN mid-quarter update.

The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session's trading showed 20 advancers versus 30 decliners. Advancers were led by Genentech Inc (NYSE: DNA) up 11.29%, Dow Chemical (NYSE: DOW) up 9.89%, Schering Plough Cp (NYSE: SGP) up 8.03%, Marvell Technology Group, Ltd. (NASDAQ: MRVL) up 7.18%, Wells Fargo & Co New (NYSE: WFC) up 6.03%, Gen Electric Co (NYSE: GE) up 6.01%. Decliners followed Ford Motor Co (NYSE: F) down 6.08%.

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Quote of the Day: "A pin has as much head as some authors and a good deal more point." George D. Prentice

Today is: Napping Day, Get Over It Day.

Happy Birthday: Eddie Foy, Howard Aiken, Will Geer, Mickey Spillane, Yuri Gagarin, Mickey Gilley, Bobby Fischer, Aaron Boone, Julia Mancuso.

Today in History: Napoleon Bonaparte married his first wife, Josephine de Beauharnais, in 1796. Giuseppe Verdi's third opera Nabucco premiered in Milan in 1842; its success established Verdi as one of Italy's foremost opera writers. In a five-hour battle in 1862 near Hampton Roads, Virginia, the USS Monitor fought the CSS Virginia to a draw. The Barbie doll debuted in 1959. The first Ford Mustang rolled off the assembly line at Ford Motor Company in 1964. A strike in 1989 forced financially-troubled Eastern Airlines into bankruptcy. Dr. Antonia Novello was sworn in as surgeon general of the United States in 1990, becoming the first female and Hispanic American to serve in that position.

[FirstAlert" was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information (http://www.investrendinformation.com). The opinions expressed in FirstAlert" do not necessarily reflect the opinions of Investrend.]

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