The humble mobile....
I would drive it with a bag over my head
not to be seen...hehe heh
I'm sure its somebody's cup of tea.
Combat pay for UPS & FDX pilots
Although the market averages extended the pullback off recently established 52-wk highs in early trade yesterday there was no technical damage done as the indices held at/near shorter term supports. The S&P and Nasdaq Comp held near their 10 day exp while the Dow tested and rebounded off the late Oct range highs. While the stabilization/recovery was constructive the premarket tone is in the bearish camp following the disappointing outlook from CSCO and market chatter about European debt issues and higher inflation in China. Short term, how the S&P performs in the early going in relation to initial support in the 1209/1208 area and more importantly 1204/1202 (Wed low/50% of Nov rally) will provide a read on the underlying strength of the downdraft off the highs.
Wednesday Summary: The market opened with a slightly firmer bias in the wake of the previous day's pressure as claims rolled in at better than anticipated levels (Initial 435 K vs. consensus 450 K; Continuous 4301 K vs. consensus 4350 K). However, the opening push was limited and short lived with the recent weaker tone resuming control as the Dollar Index advanced to a new two week high. The S&P held above support at 1203/1202 (congest/50% retrace of Nov rally) and with the Dollar backing away from resistance at its Oct highs, it allow the index to reach unchanged near midday. A bit of an intraday slip was noted following the disappointing 30-yr auction but a resumption of the Dollar pullback led to a fresh session highs in afternoon trade. Sectors pacing the way on the upside included: Gold Miners GDX +2.8%, Crude Oil USO +2.7%, Mining XME +2.2%, Reg Bank KRE +2.2%, Silver SLV +2%, Oil Service OIH +1.9%, Health Provider +1.9%, Bank KBE +1.6%, Housing XHB +1.4%, Energy XLE +1.3%, Gold GLD +1.2%, Coal KOL +1.2%, REITs IYR +1.2%, Internet HHH +1.1%, Finance XLF +1.1%, Networking IGN +1.1%, Restaurant +1%, Healthcare +1%. Weakness was noted in Solar TAN -1.3%, Utility UTIL -0.7%, Tobacco -0.7%, Airline FAA -0.6%, Defense PPA -0.5%.
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