Indices
Dow - 4.88 at 10,791.13  -   Nasdaq + 6.25 at 2,082.91  -  S&P 500 + 0.84 at 1,206.14 

Market Wrap
(From Briefing):

Market showed little enthusiasm as split industry leadership, mixed breadth figures, very light trading volumes and a lack of market moving news left the indices relatively unchanged all day and closed the major averages in split fashion... Even confirmation that Verizon Communications (VZ 36.17 -0.14) will acquire MCI Inc. (MCIP 19.93 -0.82) for $6.75 bln in cash and stock - a formal bid that brought the total M&A activity in 2005 to nearly $160.0 bln and would on most days provide stronger support to the overall stock market - did little to spur broad-based buying interest... Investors were also left with little in the way of notable earnings reports and economic data to provide enough conviction to extend Friday's solid gains, as lower volume consolidation implied only minimal selling pressure and most of the day's news items were company specific... Computer hardware (+1.1%) surged after UBS upwardly revised their FY05 and FY06 EPS estimates on Apple Computer (AAPL 84.63 +3.42), negating weakness in Hewlett-Packard (HPQ 20.75 -0.55) which announced a $21 mln severance package for recently ousted CEO Carly Fiorina... Utility (+0.9%) was also strong following a Smith Barney upgrade on Duke Energy (DUK 27.39 +0.60) while pharmaceutical (+0.5%) got a healthy lift from Pfizer (PFE 25.48 +0.33) after a study showed its epilepsy drug Lyrica reduced seizures by more than 53%... Energy, following an upgrade on ConocoPhillips (COP 100.75 +1.71) and slightly higher crude oil prices ($47.44/bbl +$0.28) also posted modest gains while materials closed modestly higher at the expense of a weak dollar and subsequent strength in gold futures ($427.30/ounce; +1.3%)... The greenback sold off against both the euro (1.2963) and the yen (105.16) following a jump in Japan's trade surplus and possible concerns over Euro Zone inflationary issues... Homebuilding (-0.7%) extended Friday's sell off while modest weakness was also seen in transportation, disk drive and financial... The latter was weak after American International Group (AIG 71.46 -1.66) received subpoenas from NY Attorney General Eliot Spitzer and the SEC... Internet was also a focal point as the lock-up period on nearly 177 mln shares of Google (GOOG 192.99 +5.59) expired while General Motors' (GM 37.25 +0.11) $2.0 bln settlement with Fiat SpA kept auto stocks in focus... Meanwhile, treasuries also traded with a cautious tone all day as traders had no economic data or influential Fed-speak to aggressively push bonds in either direction...NYSE Adv/Dec 1791/1500...NASDAQ Adv/Dec 1534/1592.

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Today's Picks - February 15, 2005

1.   TXU - Txu Corp

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-15		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 78.40

2.   DPL - DPL

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-15		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 26.80 Exit this trade before the close Feb 16 due to pending earnings announcement.

3.   ADM - Archer-Daniels-Midland

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-15		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 24.60

4.   DOW - Dow Chemical

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-15		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 52.30

5.   CEG - Constellation Energy

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-15		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 53.55

6.   FDX - FedEx Corp

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
02-15		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 95.89

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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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