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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (10748)	4/12/2007 3:28:02 PM
From: Smiling Bob	Respond to of 19256

Another fine desciption of the market. "Onward and upward" A one day drop of 3/4% is considered an overdone sell-off? --- 3:00 pm : Onward and upward remains the driving mantra this afternoon as investors continue to subscribe to the notion that yesterday's pullback, albeit not all that surprising given the Dow's long winning streak, was overdone. It is worth noting, though, that much of today's broad-based advance is actually being driven by strong gains in a handful of heavily-weighted, large-cap names. Microsoft (MSFT 28.44 +0.33), the most influential stock on the S&P 500, is up 1.2% following upbeat analyst commentary. Fellow Dow components Pfizer (PFE 26.39 +0.35) and Merck (MRK 46.34 +0.69), two of the three largest components in Health Care, are up 1.4% on average. ..DRG +1.1%. DJ30 +65.99 NASDAQ +18.41 SP500 +8.21 NASDAQ Dec/Adv/Vol 1179/1784/1.45 bln NYSE Dec/Adv/Vol 1227/2000/1.04 bln 2:30 pm : Within the last 30 minutes oil prices have surged to their highest levels of the day. Crude for May delivery is now up 3.0% near $63.90/bbl heading into the close of trading on the NYMEX after Valero Energy (VLO 68.24 +0.86) said its fire-damaged McKee facility will not reach full capacity of 170,000 barrels per day this year. Oil was already up about 1.5% after the IEA said OPEC cut output in March to 30.1 mln barrels a day, the lowest level since January 2005. Fortunately for the bulls, oil's latest uptick finally woke up an Energy sector that had yet to take advantage of today's gain in crude. The sector's 1.0% advance so far is providing enough leadership to offset the inflationary potential of what may soon be $64 oil. DJ30 +46.24 NASDAQ +14.41 SP500 +6.14 XOI +1.3% NASDAQ Dec/Adv/Vol 1152/1800/1.34 bln NYSE Dec/Adv/Vol 1222/1972/970 mln