Indices
Dow - 24.38 at 10,368.61  -   Nasdaq - 25.57 at 2,008.70  -  S&P 500 - 4.12 at 1,163.75 

Market Wrap
(From Briefing):

The market opened higher in the wake of solid quarterly results and worries over an oversold market, but traded in split fashion most of the day only to close at new lows for the fourth consecutive session... Overall sentiment, despite showing early promise yet again, remained cautious due to ongoing fears related to decelerating earnings growth which prompted further consolidation and pushed the market averages through key technical levels to their lowest levels of the day... Crude oil ($48.81/bbl +$0.28), closing at its highest level in nearly two months, also added pressure to equities throughout the session... The commodity climbed in response to higher demand for heating oil following heavy snowstorms across the Northeast as well as uncertainty ahead of the Iraqi elections and OPEC's meeting on Jan 30... Despite virtually every sector attracting buyers at the open, follow through from sellers kept gains minimal most of the day and closed most sectors in negative territory... Losing the most ground was airlines, which extended last week's 8.6% defeat with a 4.5% sell off, while technology was weak across the board... Losses greater than 1.0% were seen in software, networking, disk drive and semiconductor, with downbeat comments from chipmaker Infineon Technologies (IFX 9.00 -0.34) pressuring the latter... Biotech, retail and materials also lost in excess of 1.0% while health care and transportation relinquished early gains... Energy (+1.0%) bucked the bearish trend, however, following a sector upgrade from Banc of America and higher oil prices, while financial posted modest gains following record quarterly results from American Express (AXP 52.70 +0.77) and Legg Mason (LM 74.95 +4.25)... Also closing higher was telecom services, getting a boost from a rebound in Verizon Communications (VZ 36.87 +0.37), and utility, which took advantage of lower bond yields... Treasuries, which traded relatively unchanged most of the day with no economic data to digest, found some late-day buying interest which pushed the benchmark 10-year note up 5 ticks to yield 4.12%, levels not seen since mid December... Gold ($427.10/oz +$0.20) closed above $427/ounce for the first time since January 5, as the dollar held relatively steady against the euro (1.3063) and yen (102.55)...NYSE Adv/Dec 1314/2024...NASDAQ Adv/Dec 916/2219.

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Today's Picks - January 25, 2005

1.   CEG - Constellation Energy Group

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-25		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 45.33

2.   CCJ - Cameco Corp

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-25		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 36.50

3.   SO - Southern Co

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-25		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 33.47

4.   APH - Amphenol

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-25		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 36.83

5.   DD - duPont

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-25		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 46.01

6.   HIG - Hartford

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
01-25		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 65.98

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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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