FirstAlert: 12-1 P.M. Investrend / Bestcalls
Conference calls are often impacted by market trends, geopolitical conditions, news coming from conferences and economic releases.
Stock Market Critically Injured (By Frank Kollar) Already the S&P 500 Index (SPX) has broken below not just its November 2008 bear market lows, but also the lows reached in the 2000-2002 bear market. This tells us the bear market has lower lows ahead. There is no guarantee this will occur, but now that these critical long term support levels have fallen, there is no bottom. There is no support. The likelihood of several more vicious down waves in coming months is very real and very dangerous to this country and the world. Last week we wrote, "This is the test of the bear market lows predicted by several market technicians including us. If 752.44 holds we could see a huge rally from near current levels. If 752.44 is surpassed to the downside with a decisive close below, the next support level is all the way down at SPX 697.00 a share." We stand at the precipice.
The Investrend Earnings Calendar features Aqua America (NYSE: WTR), expected at $0.19; Endo Pharma (NASDAQ: ENDP), expected at $0.58; Mirant (NYSE: MIR), expected at $0.51; Republic Services (NYSE: RSG), expected at $0.44.
The Investrend Economics Calendar lists Gross Domestic Product (GDP) for Q4 (8:30 a.m.), Chicago PMI for February (9:45 a.m.), U. of Michigan Consumer Sentiment Index for Feb (10 a.m.), Farm Prices for February (3 p.m.).
The Investrend Events Calendar showcases ADI, ARUN, WU, ELNK at Goldman Sachs Technology and Internet Conference; BRCM at Goldman Sachs Symposium; ELON at Pacific Crest Securities Emerging Technology Summit; HS 2009 Investor Day; IMGN Analyst Meeting.
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 23 advancers versus 27 decliners. Advancers were led by Las Vegas Sands Corp (NYSE: LVS) up 31.94%, Huntington Bancshares Incorpora (NASDAQ: HBAN) up 19.28%, Suntrust Banks (NYSE: STI) up 18.81%, Fifth Third Bancorp (NASDAQ: FITB) up 18.04%, Us Bancorp (NYSE: USB) up 16.85%, Powershares Db Crude (NYSE: DXO) up 10.50%, Weatherford Intl., Ltd. (NYSE: WFT) up 9.07%, Wells Fargo & Co New (NYSE: WFC) up 7.14%, Jp Morgan Chase Co (NYSE: JPM) up 6.07%. Decliners followed Psychiatric Solutions, Inc. (NASDAQ: PSYS) down 35.87%, Slm Corporation (NYSE: SLM) down 30.87%, Nii Holdings, Inc. (NASDAQ: NIHD) down 19.89%, Amgen Inc. (NASDAQ: AMGN) down 9.42%, The Directv Group, Inc. (NYSE: DTV) down 6.73%, Dryships Inc. (NASDAQ: DRYS) down 6.27%.
Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).
Investrend Website of the Day: http://www.smartphrase.com
Quote of the Day: "It takes less time to do a thing right, than it does to explain why you did it wrong." Henry Wadsworth Longfellow
Today is: Dominican Republic National , Rabi`I.
Happy Birthday: Edward Cave, Henry Wadsworth Longfellow, Hugo Black, William Demarest, Gene Sarazen, John Steinbeck, Peter De Vries, Ariel Sharon, Elizabeth Taylor, Ralph Nader, Howard Hesseman, Charlayne Hunter-Gault, Neal Schon, Adam Baldwin, Donal Logue, Chelsea Clinton, Josh Groban.
Today in History: The Treaty of Berwick, which expelledl the French from Scotland, was signed by England and the Congregation of Scotland in 1560. The Giles resolutions were introduced in 1793 to the United States House of Representatives asking the House to condemn Alexander Hamilton's handling of loans. Washington, DC was placed under the jurisdiction of the U.S. Congress in 1801. Poet Lord Byron gave his first address as a member of the House of Lords in 1812, in defense of Luddite violence against Industrialism in his home county of Nottinghamshire. The first Mardi Gras was celebrated in New Orleans, Louisiana, in 1827. A challenge to the Nineteenth Amendment to the United States Constitution, allowing women the right to vote, was rebuffed in 1922 by the Supreme Court of the United States. The Communist Party took control of government in Czechoslovakia in 1948. The Twenty-second Amendment to the United States Constitution, limiting Presidents to two terms, was ratified in 1951. The government of Italy asked for help in 1964 to keep the Leaning Tower of Pisa from toppling over. People magazine was published for the first time in 1974. While trying to circumnavigate the world in a hot air balloon in 1999, Colin Prescot and Andy Elson set a new endurance record after being in a hot air balloon for 233 hours and 55 minutes.
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