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To: MythMan who wrote (392720)8/17/2009 9:22:12 AM
From: Giordano Bruno  Read Replies (1) | Respond to of 436258
 
They can always manufacture good news short term.



To: MythMan who wrote (392720)8/17/2009 12:13:48 PM
From: Broken_Clock1 Recommendation  Respond to of 436258
 
It clearly is being monitored and supported.
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Obama selling out to the "healthcare" lobby over the weekend couldn't have anything to do with it?

U.S. stock investors slam everyone but insurers

By Kate Gibson
On Monday August 17, 2009, 11:14 am EDT

NEW YORK (MarketWatch) -- U.S. stock-market investors are following in the footsteps of billionaire investor Warren Buffett by rotating into health-care stocks, with that defensive sector the sole industry group not losing ground to Monday's sharp equity-market decline.

While the broad market was slammed, shares of large insurers rallied as the Obama administration apparently backed off its plan to give Americans the option of signing up for a government-run health-insurance option. See full story on prospects for a public health-insurance option.

Shares of Coventry Health Care Inc. (NYSE:CVH - News) rose 6%, while shares of Aetna Inc. (NYSE:AET - News) gained 4%, matching the advances of UnitedHealth Group Inc. (NYSE:UNH - News) and Cigna Corp. (NYSE:CI - News) .

On the Dow Jones Industrial Average (DJI:^DJI - News) , pharmaceutical giant Pfizer Inc. (NYSE:PFE - News) was the best-performing stock, up nearly 1%. The Dow industrials were off 187.42 points at 9,133.98. The S&P 500 Index fell 22.47 points to 9,131.71. And the Nasdaq Composite (COMP - News) declined 49.34 points to 1,936.18.