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Conference calls are often impacted by market trends, geopolitical conditions, news coming from conferences and economic releases.
Bull Market Blast Off? (By Dr. Joe Duarte) A nearly 900-point up day in the Dow Jones Industrial average is nothing to sneeze at, whatever the reason for the rally. To be sure, anything is possible, but let's look at a few details. For one thing, the volume of advancing stocks to declining stocks was 20 to 1. That's twice the 9 to 1 up/down ratio that traditionally is associated with big gains in the market six months down the line. More important, it came before a day that is almost certain to bring a decline in interest rates from the Federal Reserve. When the NYSE rises with a 9 to 1 ratio in close proximity to the Fed lowering rates, it's a very bullish scenario, as it shows that the market has both momentum and the impulse of lower interest rates going for it. The arguments against this being the start of a new bull market are also sound. After all, little has changed in the way of economic progress. Job losses are mounting, debt is rising, and the rest of the world is slowing down. And the uncertainty of the election is now starting to filter through the system into the Main Street side of things. Yet, two interesting developments should not be overlooked. One is that the Democrats are now certain that Obama has won the election and that they will rule the roost with a Double Barrel combination of a Democratic Congress and a Democrat president. The second is that the gloom and doom on Main Street and Wall Street are so pervasive that anyone who is bullish is being laughed at, especially on CNBC and other media outlets. Finally, you've got to wonder if the market hasn't already discounted all the bad news that can possibly appear. So, if the market is through discounting the end of the world, what you've got now are the three basic ingredients of a bull market: lower interest rates, gloom and doom, and what could be a grand send-off with a nearly 900-point rally in the Dow Industrials and a 20 to 1 up volume/down volume ratio, accompanied by lots of doubt. Remember, bull markets love walls of worry. Will it happen this time? Or is this another fake-out? Our guess is that we'll know in a few more days, as the rally will either gather steam or once again fade and make a beeline for the recent lows.
The Investrend Earnings Calendar features Aetna (NYSE: AET), expected at $1.12; Amkor Tech. (NASDAQ: AMKR), expected at $0.28; BorgWarner (NYSE: BWA), expected at $0.56; Cabot (NYSE: CBT), expected at $0.24.
The Investrend Economics Calendar lists Durable Goods Orders for September (8:30 a.m.), EIA Petroleum Status Report (10:30 a.m.), FOMC Meeting - Policy Statement (2:15 p.m.).
The Investrend Events Calendar showcases CEL, CYCC, RPTP, ELXR, GENR, MNOV at 7th Annual BIO Investor Forum; ED, RRC, APC at Platts Appalachian Gas Conf; MRCY 9th Annual Investor Conf.
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 49 advancers versus one decliners. Advancers were led by American International Group In (NYSE: AIG) up 35.56%, Fifth Third Bncp (NASDAQ: FITB) up 27.04%, Comcast Cp A (NASDAQ: CMCSA | Quote | Chart | News | PowerRating) up 24.52%, Ishares Tr Ftse Indx (NYSE: FXI) up 20.03%, Merrill Lynch & Co Inc (NYSE: MER) up 18.61%, National City Corp (NYSE: NCC) up 17.82%, Companhia Vale Do Rio Doce (NYSE: RIO) up 16.72%, Nvidia Corp (NASDAQ: NVDA) up 15.06%, Citigroup Inc (NYSE: C) up 14.83%, Time Warner Inc (NYSE: TWX) up 14.64%, Verizon Communications Inc (NYSE: VZ) up 14.63%, Petroleo Brasileiro S.A. (NYSE: PBR) up 14.56%, Qualcomm Inc (NASDAQ: QCOM) up 14.51%, Sprint Nextel Corp (NYSE: S) up 14.38%, Charles Schwab Inc (NASDAQ: SCHW) up 13.97%, Cisco Sys Inc (NASDAQ: CSCO) up 13.80%, Exxon Mobil Corp. (NYSE: XOM) up 13.27%, Starbucks Cp (NASDAQ: SBUX) up 13.24%, At&T Inc (NYSE: T) up 13.20%, Amazon.Com Inc (NASDAQ: AMZN) up 13.03%, Wachovia Corp (New) (NYSE: WB) up 12.72%, Bank Of America Corp. (NYSE: BAC) up 12.13%, Dell Inc (NASDAQ: DELL) up 12.01%, Wells Fargo & Co. (New) (NYSE: WFC) up 11.77%, Oracle Corp (NASDAQ: ORCL) up 11.73%, Intel Cp (NASDAQ: INTC) up 11.30%, Wal-Mart Stores, Inc. (NYSE: WMT) up 11.07%, Powershares Qqq Tr 1 (NASDAQ: QQQQ) up 11.05%, Morgan Stanley (NYSE: MS) up 10.71%, Jpmorgan Chase & Co. (NYSE: JPM) up 10.59%, Emc Corp. (Ma) (NYSE: EMC) up 10.59%, Procter & Gamble Co. (NYSE: PG) up 10.21%, Research In Motion (NASDAQ: RIMM) up 10.15%, Applied Materials (NASDAQ: AMAT) up 10.09%, General Electric Co (NYSE: GE) up 9.93%, Amgen (NASDAQ: AMGN) up 9.61%, Netapp Inc (NASDAQ: NTAP) up 9.41%, Flextronics Intl (NASDAQ: FLEX) up 9.33%, Ebay Inc (NASDAQ: EBAY) up 9.22%, Microsoft Cp (NASDAQ: MSFT) up 9.07%, Pfizer Inc (NYSE: PFE) up 8.72%, Nokia Corp. (NYSE: NOK) up 8.62%, Symantec Cp (NASDAQ: SYMC | Quote | Chart | News | PowerRating) up 8.57%, Apple Inc (NASDAQ: AAPL) up 8.49%, Broadcom Corp Cl A (NASDAQ: BRCM) up 8.30%, Marvell Tech Group (NASDAQ: MRVL) up 7.10%, Yahoo Inc (NASDAQ: YHOO) up 6.74%. Decliners followed E*Trade Finl Corp (NASDAQ: ETFC) down 6.98%.
Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).
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Quote of the Day: "People who commit adultery must die. Everyone knows that. Any movie tells you that!" Richard Dreyfuss
Today is: Hermit Day, Mars Day, Oatmeal Day.
Happy Birthday: Edmond Halley, Martin Folkes, Fanny Brice, Akim Tamiroff, Fredric Brown, Dominick Dunne, Bob Ross, Denny Laine, Richard Dreyfuss, Kate Jackson, Dan Castellaneta, Winona Ryder, Gabrielle Union, Brendan Fehr, Amanda Beard.
Today in History English adventurer, writer, and courtier Sir Walter Raleigh was beheaded in 1618 for allegedly conspiring against James I of England. Mozart's opera Don Giovanni was first performed in 1787 in Prague. Mount Hood, Oregon, was named in 1792 after the British naval officer Alexander Arthur Hood by Lt. William E. Broughton who spotted the mountain near the mouth of the Willamette River. Spain declared war on Morocco in 1859. Sixteen countries meeting in Geneva in 1863 agreed to form the International Red Cross. The ticker-tape parade was invented in 1886 in New York City when office workers spontaneously threw ticker tape into the streets as the Statue of Liberty was dedicated. The Harvard University football team lost to Centre College in 1921, ending a 25 game winning streak, one of the biggest upsets in college football. The New York Stock Exchange crashed in 1929 in what will be called the Crash of '29 or "Black Tuesday," ending the Great Bull Market of the 1920s and beginning the Great Depression. Muhammad Ali (Cassius Clay) won his first professional fight in 1960.Tanganika and Zanzibar joined in 1964 to form the Republic of Tanzania. The first-ever computer-to-computer link was established in 1969 on ARPANET, the precursor to the Internet. Space Shuttle Discovery blasted off in 1998 with 77-year old John Glenn on board, making him the oldest person to go into space. He became the first American to orbit Earth on February 20, 1962.
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