Market Makes It Three In A Row

February 25, 2005
Brice Wightman

Stocks were higher in the
biggest three-day rally since November.
The S&P and Dow made year-to-date closing highs, helped by a blue chip upgrade
and good economic data. Q4 GDP was 3.8%, revised from 3.1%.Â January
existing home sales slipped 0.1%, but remained at the seventh highest pace on
record at a 6.80 million unit annual rate.

ExxonMobil
(
XOM |
Quote |
Chart |
News |
PowerRating) was upgraded at Prudential. The major oil
indices–XOI, OSX and XNG–all hit 52-week highs.

The Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating) closed above its 200-week
moving average–for the first time since March 2003.The SOX has gained about 10%
in the last month.

Kohl’s (KSS)
beat by a penny.

H&R Block
(
HRB |
Quote |
Chart |
News |
PowerRating) beat estimates. Profits fell 14%.

Party Gaming, the Gibralter-based owner of
PartyPoker.com, may plan an IPO on the London exchange this year. This,
according to Pokerpulse, an industry tracker, who says the company will generate
$2 billion in revenues this year.

Dow	+92.81	10,841.60
Nasdaq	+13.70	2065.40
S&P 500	+11.17	1211.37

The dollar was -0.24 at
82.65

Crude Oil was +0.21 at
51.60

Gold was +2.00 to 454.80

ce=”Arial” size=”2″ face=”Arial”>Volume was 1.5 billion on the NYSE and
1.7 billion on the Nasdaq.

Market breadth was positive.

NYSE	Issues
Advancing	2520	Up Vol 1092
Declining	803	Down Vol 263
	3.13	4.15
Nasdaq
Advancing	1992	Up Vol 866
Declining	1126	Down Vol 738
	1.76	1.17

Stocks in the News

CV Theraputics (CVTX)
missed by 0.35.

Ingram Micro (IM)
beat by 0.05.

McData (MCDTA)
beat by a penny.

TiVo
(
TIVO |
Quote |
Chart |
News |
PowerRating) is rumored to be an acquisition target by Apple,
though the company says it’s not for sale.

Brice Wightman

Market Makes It Three In A Row

BUY THE FEAR, SELL THE GREED

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