Indices
Dow + 25.05 at 10,622.88  -   Nasdaq - 1.24 at 2,090.00  -  S&P 500 + 4.15 at 1,187.89 

Market Wrap
(From Briefing):

Stocks began with an upbeat bias but closed in split fashion as buyers found few upside catalysts on a day of choppy trading to keep all the major indices in positive territory... Blue chips showed resilience and closed a bit higher, with the Dow and S&P eking out modest gains, but renewed selling into the close, for the fourth straight session, closed the Nasdaq in negative territory... One underlying theme was Friday's vital employment report following the weekly jobless claims figures... But while initial claims for unemployment rose 43K last week, the market dismissed the data and remained more focused on hiring activity rather than jobless benefits... Another issue was rising oil prices, but with inflation under control in 2004, despite oil hitting record highs of $55/bbl, action warily showed that the market remains less sensitive to large swings in oil prices, as crude oil prices surged 5% to $45.56/bbl... Lending support to the fact that the economy can hold up just fine with oil in the $40-50 range were comments from Fed Governor Hoenig's noting that inflation is unlikely to become an issue in 2005 as well... Last but not least, December same store sales were out... While the results were relatively mixed, encouraging January comps guidance of 2-4% from Wal-Mart (WMT 54.03 +0.74) helped spur interest in blue chips even though the retail sector (-1.7%) as a whole trailed only airline stocks to the downside... Airline added a 2.3% decline after Continental Airlines (CAL 10.38 -0.83) announced potential liquidity concerns in relation to restructuring its wages and benefits... Telecom services also showed weakness as did most of technology, with a 1.6% sell off in software edging out networking (-0.8%), hardware (-0.6%) and semiconductor (-0.5%)... Showing strength, however, was disk drive (+0.6%) while heath care, financial and transportation also gained ground... Leading the way though was biotech (+1.7%), following the receipt by Genentech (DNA 53.60 +0.45) of an FDA-approved label warning... Materials also traded higher, despite another rally in the dollar against the euro (1.3171), as did homebuilding (+1.1%) on the heels of lower bond yields... The benchmark 10-year note closed up 3 ticks to yield 4.26%...NYSE Adv/Dec 1899/1405...NASDAQ Adv/Dec 1545/1570.

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Today's Picks - January 07, 2005

1.   ROV - Rayovac

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-07		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 36.94

2.   NSC - Norfolk Southern

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-07		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 36.49

3.   TYC - Tyco International

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-07		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 36.45

4.   CAL - Continental Airlines

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-07		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 10.37

5.   ERTS - Electronic Arts

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-07		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 58.34

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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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