SEC litigation release for CHARLES PAYNE: sec.gov :
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FirstAlert 1/7: In Your Face, Bear, Says a Bull
Jan 7, 2005 (financialwire.net via COMTEX) -- (FinancialWire) Market guru CHARLES PAYNE says he wants to go on record as "still being very optimistic about 2005," noting that today's unemployment numbers, whicpered at less than 175,000, will yet show if there will be another bump on the way. "The market is oversold by many measures including common sense. That said, the Dow Jones has to find a way to close above 10,682, and then get north of 10,840 before jittery investors will have the nerve to jump in. One of the reasons I'm optimistic about the prospects for 2005 is that I see serious reemergence of the average investor. Yet, already, that assumption is being challenged, as it will take professional investors and the speculation crowd to do some heavy lifting from here to trigger the market higher. On the downside, an adverse reaction to the jobs data could land the Dow Jones around 10,440, which is a must hold support point," said PAYNE.
The Investrend Earnings Calendar reveals Great Atlantic & Pacific (GAP), expected at $(1.19) versus $(1.21) a year ago. Top advancers Thursday were VI Technologies (VITX), which exploded 69.57%, Aastrom Bioscience (ASTM), up 16.67%, and Western Wireless (WWCA), ahead 15.16%,
The Investrend Economics Calendar lists Employment Report for December at 8:30- a.m., and
Consumer Credit for November at 3 p.m.
The Investrend Events Calendar showcases TIVO, TXN, GTW at CEA 2005 International, and the US Fed's Ferguson speaking on Productivity and Job Growth at ASSA, and the US Fed's Santomero speaking to Allied Social Science Association today and on Banking Regulation tomorrow in Philadelphia.
The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE / NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session's trading showed 30 advancers versus 20 decliners. The advancers were led by VI Technologies (VITX), which exploded 69.57%, Aastrom Bioscience (ASTM), up 16.67%, Western Wireless (WWCA), ahead 15.16%, and Transmeta Corp. (TMTA), up 13%. Decliners were led by Symantic Corp. (SYMC), down 7.43%, and Veritas Software (VRTS), off 6.92%.
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