Indices
Dow - 79.95 at 10,405.70  I   Nasdaq - 18.64 at 1,973.88  I  S&P 500 - 8.92 at 1,165.36  

Market Wrap
(Briefing):

The market opened slightly lower ahead of consumer confidence data but closed sharply lower amid worries related to even more influential economic data... Broad-based selling pushed the Dow and S&P to two-month lows while the Nasdaq closed near levels not seen in five months... While March consumer confidence fell to 102.4 (consensus 103.0), the decline was widely anticipated as gasoline prices have continued to climb... More notably, was the fact that a slew of more significant economic releases - with particular interest being placed on Thursday's Personal Income and Spending figures and Friday's non-farm payrolls data - were forthcoming... Such uncertainty underpinned a sense of nervousness among market participants, amid ongoing inflation fears and higher oil prices, as all 10 economic sectors closed in negative territory... Even though crude oil futures only inched up 0.3%, to close at $54.23/bbl (+$0.18), the modest move higher was enough of an inflationary deterrent to erase modest intraday gains and keep buyers on the sidelines for good... Upbeat guidance from HCA Inc (HCA 51.95 +3.08) and Monsanto (MON 60.94 +0.84), coupled with steady oil prices early on and strength in Treasurys, prompted modest intraday buying interest... And news that Hewlett-Packard (HPQ 21.78 +1.99) selected current NCR Corp (NCR 31.40 -6.50) chief executive Mark Hurd as its new CEO and that former American International Group (AIG 58.20 +1.18) CEO Maurice "Hank" Greenberg will step down as chairman, provided a boost to blue chips... But gains were short-lived as investors' reluctance to own equities ahead of upcoming data mounted and a bearish bias remained firmly intact... Treasurys, however, held onto early gains amid a decline in consumer confidence and weakness in Asian markets after disappointing government reports in Japan raised concerns about an economic slowdown... The flight to quality lifted bonds to their best levels of the day, as the 10-year note finished up 13 ticks to yield 4.58%... Losses in excess of 1.0% were felt in Materials, Energy, Utility and Industrials while Consumer Discretionary and Consumer Staples were also influential economic sectors to the downside... However, the upbeat news from AIG, HPQ and HCA helped minimize losses in Financial (-0.4%), Information Technology (-0.6%) and Health Care (-0.3%), respectively, while news that MCI Inc. (MCIP 23.78 +0.84) accepted a sweetened $7.6 bln offer from Verizon Communications (VZ 34.86 +0.14) also prevented further deterioration in Telecom Services (-0.5%)... Meanwhile, the dollar was mixed following consumer confidence data, as the greenback weakened against the euro (1.2921) but traded higher against the yen (107.52)..NYSE Adv/Dec 1001/2295...NASDAQ Adv/Dec 793/2305.

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Trade system guidelines (edited):
Only available to Newsletter Subscribers.

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Today's Picks - March 30, 2005

1.   CMCSK - Comcast Corp

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
03-30		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 33.99

2.   NSC - Norfolk So

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
03-30		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 36.38

3.   KMG - Kerr Mcgee

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
03-30		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 76.40

4.   FST - Forest Oil

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
03-30		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 39.01

5.   TXT - Textron

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
03-30		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 71.55

6.   PRU - Prudential

Entry Date	Exit Date	Position	Entry Price	Target Price	Stop Price	Max P/L
03-30		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 56.40

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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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