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Market Wrap
(From Briefing):

The belief that stocks may be oversold in the wake of solid earnings reports and encouraging corporate news was enough to shrug off early weakness, keep sellers on the sidelines and close the indices at their highs of the session... Led primarily by leaders in the financial sector (+1.5%), better than expected results from BAC, NCC, STT, SCH and AMTD helped offset in line earnings from MMM and ABT and an earnings miss from WFC, paving the way for buyers to extend Friday's gains and help ease the pain of two consecutive down weeks... Virtually every sector closed higher, ignoring an early 2% surge in crude oil prices which had hit a seven-week high amid freezing weather in the Northeast and supply concerns... The commodity closed unchanged at $48.38/bbl, but kept energy in positive territory, as investors remain relatively comfortable with oil prices between $40 and $50/bbl... Technology was strong across the board with disk drive (+2.3%), hardware (+1.6%) and software (+1.0%) gaining the most ground... Also surging more than 1.0% on the day was brokerage (+1.8%), banks (+1.7%), biotech (+1.4%), telecom services (+1.4%), consumer staples and retail... The latter was assisted by the resignation of May Dept Stores' (MAY 32.24 +4.40) CEO... The only major laggards were paper products (-2.1%), following MeadWestvaco's (MWV 32.05 -0.86) plan to sell its paper business for $2.3 bln, and industrial products (-1.1%), which felt pressure from Parker Hannifin's (PH 65.75 -7.68) Q2 earnings miss... Treasuries, which were lower most of the session due to several comments from the Federal Reserve, rebounded into the close to push the benchmark 10-year note up 4 ticks to yield 4.18%... Meanwhile, despite not having much of an impact on overall market activity, a weaker than expected Jan NY Empire State index (20.08 versus forecasts of 25.0) was still strong enough to suggest ongoing expansion in regional manufacturing activity....NASDAQ Adv/Dec 2036/1110.

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Today's Picks - January 19, 2005

1.   GENZ - Genzyme

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-19		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 61.05

2.   G - Gillette

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-19		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 45.15

3.   MYGN - Myriad Genetics

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-19		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 26.07

4.   AMT - Amer Tower

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-19		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 19.03

5.   CVS - CVS Corp

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-19		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 47.57

6.   USU - Usec

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-19		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 10.79

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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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