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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (94729)	11/14/2007 4:59:17 PM
From: Smiling Bob	Respond to of 306849

Fear and doubt have returned. This could start a whole new trend. One that was only thought to have been forever locked up deep in the minds of mad cows. --- J US Stocks' Rally Doesn't Last, But Delta, Merrill Rise . By Karen Talley Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--As stocks resumed their downward bent after Tuesday's upward surge, UAL was able to show propulsion and Merrill Lynch rose as a new, high-profile, chief executive was named. But investors took a rapier to United Rentals and sliced away nearly one-third of its market value. Selling significantly accelerated as the session headed toward its close, showing that "investors are still not ready to commit even though there was decent economic news early in the day," said Ryan Detrick, senior technical analyst at Schaeffer's Investment Research. "This raises questions about whether Tuesday's rally was just a nice bounce in a downtrend." The Dow Jones Industrial Average fell 83.16, or 0.6%, to 13223.93, a day after rising 319.54, a respite as the average has now fallen during five of the last six sessions. Tech was again a target, with the Nasdaq Composite Index dropping 29.33, or 1.1%, to 2644.32. The Standard & Poor's 500 index fell 10.47, or 0.7%, to 1470.58. The New York Stock Exchange Composite Index dropped 53.18, or 0.5%, to 9807.80. Delta Air Lines gained 77 cents, or 4.1%, to 19.52, after being up as much as 13%; and United Airlines' parent UAL (Nasdaq) rose 67 cents, or 1.5%, to 44.17, after being ahead by as much as 14%. Delta formed a special board committee to evaluate strategic options including mergers, responding to pressure from a hedge-fund investor that advocated a merger with United. Merrill Lynch rose 1.03, or 1.8%, to 57.98. NYSE Euronext Chief Executive John Thain agreed to take the investment bank's top post. NYSE Euronext plans to name Duncan Niederauer, its co-chief operating officer and president, to take Thain's place, The Wall Street Journal reported. NYSE Euronext shed 23 cents to 86.74. United Rentals plunged 10.24, or 30%, to 23.76, the NYSE's biggest percentage decliner. The equipment rental provider said Cerberus Capital Management is not prepared to proceed with its purchase of the company. Cerberus had agreed to buy United Rentals for $34.50 a share, or about $7 billion. Volume on the New York Stock Exchange was 1.51 billion shares. Down volume exceeded up by 963 million to 528 million and stocks that fell in value exceeded those that rose, by 2,015 to 1,253. -By Karen Talley, Dow Jones Newswires; 201-938-5106; karen.talley@dowjones.com (END) Dow Jones Newswires November 14, 2007 16:47 ET (21:47 GMT) Copyright (c) 2007 Dow Jones & Company, Inc.- - 04 47 PM EST 11-14-07