FirstAlert: 10 A.M. Investrend / Bestcalls
Conference calls are often impacted by market trends, geopolitical conditions, news coming from conferences and economic releases.
Markets Rally From Support (By Frank Kollar) -- The S&P 500 Index (SPX) traded to just above its prior January lows at SPX 804 and reversed to the upside. The Nasdaq 100 Index (NDX) declined to its rising trend support line and also rallied. Though the rally was enough to reverse midday losses nearing 3% and end the day with a slight gain, it did not result in a bullish reversal day, typically seen at the end of declines and resulting in a new sustainable rally. It is positive to see support levels hold, but whether or not this is the end of the current market weakness remains to be seen. We would not yet consider bullish positions.
The Investrend Earnings Calendar features Abercrombie & Fitch (NYSE: ANF), expected at $0.95; Enbridge (NYSE: ENB), expected at $0.49; PepsiCo (NYSE: PEP), expected at $0.88; Wyndham Worldwide (NYSE: WYN), expected at $0.41.
The Investrend Economics Calendar lists U. of Mich. Consumer Sentiment Index for Feb. (9:55 a.m.), Early close for bond market ahead of holiday weekend.
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 30 advancers versus 19 decliners and one unchanged. Advancers were led by Netapp, Inc. (NASDAQ: NTAP) up 7.89%, Sprint Nxtel Cp (NYSE: S) up 6.38%. Decliners followed La Jolla Pharmaceutical Company (NASDAQ: LJPC) down 91.34%, Us Bancorp (NYSE: USB) down 8.87%.
Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).
Investrend Website of the Day: http://www.pagat.com/eights/crazy8s.html
Quote of the Day: "Englishwomen's shoes look as if they had been made by someone who had often heard shoes described but who had never seen any." Margaret Halsey
Today is: Dream of Blame Someone Else Day.
Happy Birthday: Bess Truman, Grant Wood, Tennessee Ernie Ford, Chuck Yeager, Kim Novak, George Segal, Susan Oliver, Carol Lynley, Peter Tork, Stockard Channing, Jerry Springer, Peter Gabriel, Kelly Hu, Robbie Williams, Mena Suvari.
Today in History: Catherine Howard, the fifth wife of Henry VIII of England, was executed for adultery in 1542. William and Mary were proclaimed co-rulers of England in 1689. Aug.e and Louis Lumiиre patented the Cinematographe, a combination movie camera and projector, in 1894. In New York City the ASCAP (for American Society of Composers, Authors and Publishers) was established to protect the copyrighted musical compositions of its members in 1914. A jury in Flemington, New Jersey found Bruno Hauptmann guilty of the 1932 kidnapping and murder of the Lindbergh baby, the son of Charles Lindbergh, in 1935. Israel obtained four of the seven Dead Sea scrolls in 1955. The intense February 13, 1979, windstorm struck western Washington and sank a half-mile-long section of the Hood Canal Bridge. The Dow Jones Industrial Average closed above 7,000 for the first time, closing at 7,022.44 in 1997. The last original "Peanuts" comic strip appeared in newspapers one day after Charles M. Schulz died in 2000.
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