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Dow + 85.50 at 10,749.61  -   Nasdaq + 0.55 at 2,053.10  -  S&P 500 + 5.02 at 1,197.01 

Market Wrap
(From Briefing):

Stocks finished strong, despite mixed breadth figures, on the heels of solid earnings reports and encouraging economic data... While most of the market had Dell's (DELL 41.57 +0.58) widely anticipated earnings report on their minds, investors did not overlook the fact that the majority of notable earnings reports came in better than expected... Aetna (AET 133.77 +5.22) kicked things off, beating forecasts by $0.04, raising its FY05 EPS outlook and declaring a 2-for-1 stock split... Office Depot (ODP 18.30 +0.78), despite saying it will no longer provide guidance, also beat expectations while Waste Management (WMI 29.78 +0.09), which guided FY05 earnings at the lower end of analysts' current range, also beat estimates... Meanwhile, initial claims unexpectedly declined to 303K versus forecasts of 325K, hitting their lowest level in four years, while the Commerce Dept showed the Dec trade deficit narrowed to -$56.4 bln from Nov's record figure of -$59.3 bln... A 3.6% surge in crude oil futures ($47.10/bbl +$1.64), spurred by the IEA saying demand for oil was increasing faster than expected, limited gains early on, but investors remained comfortable with oil hovering in the $40-50/bbl range... Energy (+2.3%) took full advantage as several leading oil & gas stocks from the likes of XOM, BP, CVX and COP closed near historic highs... Also gaining ground were financial, drug, retail, biotech and materials, which took note of weakness in the greenback and a 1.0% increase in gold futures ($418.70/oz)... Taking some of the attention away from blue chips, however, was technology, which lost ground in every category but semiconductor (+0.6%), which was strong following positive comments from Banc of America and ThinkEquity regarding the analog chip sector... Concerns that the pending $13.5 bln merger between SYMC (-2.5%) and VRTS (-3.0%) may not come to fruition coupled with insider filings at ATVI (-15.0%) kept software (-1.0%) under pressure all day while hardware, disk drive and networking also traded lower... Also showing weakness was telecom services (-0.7%) despite an informal $6.3 acquisition bid from Verizon Communications (VZ 36.09 +0.03) for MCI Inc. (MCIP 20.46 -0.40)... Even interest-rate sensitive areas such as homebuilding and utility eked out modest gains despite a sell off in bonds that lifted the three-month low yield on the benchmark 10-year note (-22/32) from 3.98% to 4.07%... Treasuries tumbled following a $14 bln auction of 10-year notes that awarded investors 4.049% but only recorded measly indirect bidder participation of 28.5%... Also improving the underlying sentiment were dividend increases from AET, BDK, CL, MAY and UPS, which took the total number of S&P companies doing such so far in 2005 to 63...NYSE Adv/Dec 1830/1513...NASDAQ Adv/Dec 1436/1658.

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Today's Picks - February 11, 2005

1.   TOPT - Top Tankers

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-11		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 19.50

2.   WMB - Williams

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-11		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 17.95

3.   SUN - Sunoco

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-11		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 94.77

4.   AHC - Amerada Hess

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-11		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 94.95

5.   AES - AES Corp

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-11		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 15.40

6.   NOI - Natl Oilwell

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-11		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 39.65

7.   GSF - GlobalSantaFe

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-11		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 36.28

8.   PTEN - Patterson-Uti Energy

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-11		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 21.10

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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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