Indices
Dow - 0.37 at 10,715.76  -   Nasdaq - 4.63 at 2,082.03  -  S&P 500 - 1.31 at 1,201.72 

Market Wrap
(From Briefing):

Consolidation following a two-week rally, coupled with mixed earnings and guidance, split industry leadership and a more cautious sentiment, were too much to fully benefit from plummeting oil prices... With earnings season slowly tailing off and no important economic data, investors had few catalysts to push the indices noticeably in either direction, as what few reports did make headlines came in decidedly mixed... S&P constituents like AGN, CLX, GR, TIN and WLP all turned in better than expected results, but the latter (WLP) issued Q1 EPS guidance below consensus, while HAS, LPX and HUM (but raised FY05 guidance) missed forecasts... Not even a 2.6% sell off in crude oil prices ($45.28/bbl -$1.20), due to milder weather in the Northeast and the possibility that OPEC may not adjust production levels before its mid-March meeting, was enough to reignite buying interest... While aggressive profit taking in the commodity proved healthy for airlines (+2.1%), lifting transportation modestly higher, energy (-0.5%) was less fortunate... Managed health care (-1.9%) was another area under pressure following mixed earnings/guidance from WLP (-3.2%) and HUM (-1.4%) while weakness in hardware and software offset solid gains in networking (+0.8%)... Telecom services, utility, homebuilding, biotech and brokerage also posted modest losses while the drug sector (+0.5%) enjoyed modest strength in the wake of arthritis drug updates from Pfizer (PFE 24.87 +0.64) and Merck (MRK 28.44 +0.09)... Separately, President Bush sent to Congress a record $2.57 trillion budget for 2006 that plans to slash spending for such domestic programs as agriculture, housing, transportation and environment... With the Bush Administration's proposed budget cuts somewhat mitigating concerns about continued deficits, the dollar extended its five-week rally against the euro (1.2760) while treasuries also climbed, albeit in quiet trade ahead of three days of auctions, to push the benchmark 10-year note up 6 ticks to yield 4.05%... The greenback also gained against the yen (104.87) after the Chinese central bank planned to hold off letting the yuan strengthen...NYSE Adv/Dec 1670/1664...NASDAQ Adv/Dec 1531/1604.

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Today's Picks - February 08, 2005

1.   ATVI - Activision

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-08		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 24.26

2.   CK - Crompton

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-08		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 12.55

3.   TRI - Triad Hospitals

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-08		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 43.40

4.   HLIT - Harmonic

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-08		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 12.40

5.   MAT - Mattel

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-08		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 20.79

6.   WLP - Wellpoint

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-08		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 120.27

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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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