Indices
Dow - 32.95 at 10,597.83  -   Nasdaq - 16.62 at 2,091.24  -  S&P 500 - 4.33 at 1,183.72 

Market Wrap
(From Briefing):

Early momentum stalled for the third day in a row as the indices traded in mixed fashion most of the session with few upside catalysts to convincingly keep sellers on the sidelines... The Dow was positive until a renewed wave of selling in the last half hour of trading pushed it lower, alongside the S&P, Nasdaq and every other market average... Continued consolidation also pushed virtually every sector into negative territory as well... Investors tried to establish a foothold upon digesting the morning's weekly oil report from the Dept of Energy, but mixed results only created more uncertainty... Distillates, which were expected to come in unchanged, rose by 2.0 mln barrels while crude supplies fell 3.3 mln barrels (consensus -1.5 mln barrels), promptly sending crude oil futures lower... The commodity ($43.39/bbl -$0.52), which bounced around on the supply data early on, showed little follow through and closed 1.0% lower on warmer than expected weather reports in the Northeast through Jan 12... Even though the December ISM Services survey came in with a stronger than expected read of 63.1 (consensus 61.0), up from 61.3 in November, the market basically shrugged of the data as the more significant employment component came in at 54.9 versus 55.0 in November... Potential price wars stemming from Delta Air Lines' (DAL 6.80 -0.51) efforts to slash airfares sent airline stocks (-5.8%) into a tailspin while a Q3 (Dec) revenue warning from chipmaker Xilinx (XLNX 27.60 -0.84) added pressure to an already weak semiconductor group... Materials (-0.6%) extended Tuesday's 2.3% decline, as the dollar showed strength in the early going, while homebuilding, utility, financial, health care, retail, transportation and energy all lost ground as well... Closing higher, however, was drug retail (+2.3%), after CVS Corp (CVS 45.22 +0.73) raised its dividend by 9%, and multi-line insurance (+1.4%), after American International Group (AIG 67.54 +1.29) increased its dividend by 67%... Treasuries held fairly steady throughout the session, as the benchmark 10-year note closed up 3 ticks, yielding 4.27%...NYSE Adv/Dec 996/2319. ..NASDAQ Adv/Dec 963/2194.

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Today's Picks - January 06, 2005

1.   CMX - Caremark Rx

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-06		Long	Above 15 high	Sell 1/2 once risk covered	Below LOD at time of setup
	* Please Note: If the stock gaps down at the open do not enter the trade unless it trades above 40.80

2.   NLY - Annaly Mortgage

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-06		Long	Above 15 high	Sell 1/2 once risk covered	Below LOD at time of setup
	* Please Note: If the stock gaps down at the open do not enter the trade unless it trades above 18.15

3.   SPG - Simon Property

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-06		Long	Above 15 high	Sell 1/2 once risk covered	Below LOD at time of setup
	* Please Note: If the stock gaps down at the open do not enter the trade unless it trades above 60.45

4.   PLD - Prologis

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-06		Long	Above 15 high	Sell 1/2 once risk covered	Below LOD at time of setup
	* Please Note: If the stock gaps down at the open do not enter the trade unless it trades above 40.90

5.   PVN - Providian

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-06		Long	Above 15 high	Sell 1/2 once risk covered	Below LOD at time of setup
	* Please Note: If the stock gaps down at the open do not enter the trade unless it trades above 15.70

6.   CAG - ConAgra

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-06		Short	Below 15 min low	Cover 1/2 once risk covered	Above HOD at time of setup
	* Please Note: If the stock gaps up at the open do not enter the trade unless it trades below 28.82

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EOD = End of day.
LOD = Low of day.
PDC = Previous Day's Close.
S/R = Support/Resistance.
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