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Dow ended up a very high 12,116.91 !!

Another record! If nothing drastic happens tonight, tommorow's stocks will definitely chiong!

 

The Dow Jones industrial average bounded to a new trading high Monday after Wal-Mart Stores Inc. said it will cut capital spending in order to drive overall returns.



Blue chips resumed a three-month rally after stalling Friday; the Dow reached a new trading high of 12,085.05, eclipsing the old mark of 12,049.51, set just last week.

 

That's good!

 

Dow is down marginally last night but still ended above 12,000!

 

Ford to report weaker than expected earnings next week

 

Wall Street pulled back as a lackluster profit report and forecast from Caterpillar Inc. curtailed investor enthusiasm.



Caterpillar warned increased operating costs and weaker-than-expected sales would cut into its full-year profits. Google jumped 6.6%, after its profit nearly doubled and revenue surged 70% during the third quarter, which is traditionally slower as people generally spend less time in front of a computer during the summer months

 

We are only three months away from the third year of George Bush's term. In the entire history of the S&P 500 there have been only two negative third years of any President's term. They were both long ago: in 1931, in the midst of the 1929--32 crash, and in 1939, as we entered World War II. Both very weird and unusual times.



All other third years were double-digit positive, except single-digit positives in 1947 and 1987. The average return in third years is 20%. In fact, there have been only five negative S&P 500 years in the back half of presidential terms. Market risk is highest in the front half of Presidents' terms, which is historically when most attempts at redistributive legislation have occurred. Once the midterms are over, it gets better. It will be no different in 2007. If the S&P 500 is up, the world market will be, too. Good times are close at hand. The time to buy is now, before the perception of political risk fades.

 

"What has yet to come, and we're confident it will, is the irrational enthusiasm of the individual investor," says Lutts. "We're very bullish on the next few months, partly because of the buying power we saw back after the bottom [in June], and partly because of the four-year presidential cycle.", says Timothy Lutts of Cabot Heritage in Salem, Mass.



Like Lutts, Murphy is also aware of the strong historical precedent for a market bottom after a substantial decline during midterm election years, followed by a strong gain to the next year's highs. The problem this year is that the market did not decline substantially.



"The four-year bottom is usually preceded by a fairly serious market decline, which was absent this year. That may be a warning that this is not a normal cycle," says Murphy. "That's why I advise basing one's decisions on current chart trends and their technical indicators more than anything else," he says, and he points out that other signs trouble him about the market's health, including the economic outlook.



"One of the symptoms of an early contraction economic phase is when basic materials and energy stocks peak, and money flows into consumer staples, financials and utilities. That appears to have happened," says Murphy. That's also a sign of an aging bull market.



"Money is still seeking the relative safety of blue chips, and it is by no means a sign of great investor confidence," says John Schloegel, an analyst at All-Star Fund Trader. "We are also concerned about lack of volume, which suggests that investors may not have as much bullish conviction as the price trends are suggesting."

 

NEW YORK (MarketWatch) -- U.S. stocks ended higher Thursday, with the Dow Jones Industrial Average closing above 12,000 for the first time after a raft of upbeat earnings reports led by Apple Computer Inc., eBay Inc and the Coca-Cola Co. eased concerns about a slowing economy.

The record close came on the 19th anniversary of the stock market crash of 1987, in which the Dow fell 508 points, or 22.6% to 1,738.40.

The Dow industrials rose 19.05 points to 12,011.73 led by gains for Coca-Cola and Altria Group while both AT&T and Verizon Communications rallied on upbeat commentary from broker Lehman Bros.

The Nasdaq Composite Index eked out a late-day gain to end up 3.79 points at 2,340.94 while the S&P 500 Index rose 0.94 point to 1,366.90.

"We're a little bit tentative around 12,000 because I do think the market is a little overdone in the near term," said Barry Hyman, equity market strategist at EKN Financial Services. "But a lot of companies are beating expectations giving us the likelihood of double-digit earnings growth in the third quarter, and possibly another quarter of double-digit growth in the fourth."

Hyman said his optimism is based on the recent performance of the bond market where benchmark yields have been rising.

"This suggests the economy is not weakening as much as people expected and that we may get something a little bit better than a soft landing which will help to power earnings."

At the same time, said Hyman, the market does seem to be hitting something of a wall after the gains of the last three months. "We are seeing some 'sell on the news' action rather than really rallying into the earnings."

The latest data appeared to confirm a slowing trend in the economy.

The factory sector in the Philadelphia region was flat for a second straight month in October, the Federal Reserve Bank of Philadelphia reported. The Philly Fed index fell to negative 0.7 from negative 0.4 in September. Readings below zero indicate most firms surveyed are contracting. Economists expected the index to bounce back to 7.8.

The details, however, were better than the headline.

The new orders index rose to 13.4 in October vs. negative 1.3 in September. The shipments index rose to 5.3 in October vs. negative 6.8 in September. The price paid index fell to 32.0 in October vs. 38.1 in September. See full story.

The index of leading indicators, a gauge of future growth, rose 0.1% in September after falling in July and August, the Conference Board said. The index has dropped in five of the past eight months, and is down 0.9% in the past six months.

"The behavior of the leading index so far suggests that economic growth should continue at the slow rate in the near term," the New York-based private research group said. See full story.

But there was better news on the employment front with an unexpected decline in jobless claims for the latest week. See full story.

On the broader market for equities, advancers outpaced decliners by 5 to 3 on the New York Stock Exchange, and by 17 to 12 on the Nasdaq.

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paiseh not really call triple top but three time it hit 12013 and bounce back down. hope it canbreak it this time round as at 1.44am

 

triple top formed at 12013. going to take some effort and luck to break the resistance.

 

Strong results from Dow component Coca-Cola Co. and Pfizer Inc. helped lift the index to 12,091.33 in morning trading. However, the broader markets were spooked by disappointing quarterly results from several large technology companies.



AMD. plunged after its results left investors worried about falling profit margins. Nokia Corp. dropped after its third-quarter profit disappointed, while Germany's SAP AG tumbled after it issued a cautious earnings outlook.



One bright spot was Apple which surged after reporting stronger-than-expected fiscal fourth-quarter results. Driving profit was sales of its iPod music players and Macintosh computers.

 

WASHINGTON (MarketWatch) - A gauge of future growth shows the U.S. economy should continue to expand at a slow pace, the Conference Board said Thursday.

The index of leading economic indicators rose 0.1% in September after falling in July and August. The index has dropped in five of the past eight months, and is down 0.9% in the past six months.

Economists expected the leading index to rise 0.3%, according to a survey conducted by MarketWatch.

The leading index fell 0.2% in August and 0.3% in July.

"The behavior of the leading index so far suggests that economic growth should continue at the slow rate in the near term," the New York-based private research group said.

Five of the 10 leading indicators rose in September: Consumer expectations, money supply, stock prices, jobless claims and core capital equipment orders.

Five others fell: Building permits, factory working hours, delivery times, the interest-rate spread and new orders for consumer goods.

In the past six months, 45% of the indicators have been positive.

The coincident index was unchanged in September, with falling industrial production offsetting gains in income, sales and employment.

The lagging index rose 0.2% in September.

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Now in positive territory!

 

Dow opened lower... now down 20 points.

 

Dow closed below 12,000 mark .... but still shiok!



NEW YORK (MarketWatch) -- U.S. stocks closed mixed Wednesday, with the Dow Jones Industrial Average failing to stay above 12,000, after the average smashed through that barrier in early trade as its components IBM and Intel posted strong gains.

The Dow industrials shot above 12,000 for the first time in the opening minutes of trade. It later traded as high as 12,049.51, before breaking stride and closing up 42.66 points at 11,992.68.

The Nasdaq Composite Index finished down 7.80 points at 2,337.15, pressured by weakness among some technology sector stocks, and the S&P 500 Index inched up 1.91 point to 1,365.96.

James Park, managing director at Rodman & Renshaw, said it's normal for the market to hit resistance at these levels.

"Since we're at highs across all indices, I think it was a natural reaction that sellers came into the marketplace to take profits. It seems to be a healthy retracement, but overall the sentiment seems to be to sell good news with stocks trading at their current valuations."

On the broader market for equities, advancers outpaced decliners by nine to seven on the New York Stock Exchange, but there were 15 decliners for every 14 stocks rising on the Nasdaq.

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if dow finished below 11950, it will be a nitemare coz it may means it formed a hammer... a sign of reversal..

 

dream no more...

 

Dow rose to a new record of 12,049.51, before pulling back as the market's initial wave of enthusiasm dissipated and investors cashed in some of their gains.



It took the Dow 7 1/2 years to make the trip from 11,000, having been pummeled during that time by the dot-com bust, recession and the aftermath of the 2001 terror attacks. That slow trek was a striking contrast with the Dow's sprint from 10,000 to 11,000 in just 24 days in the spring of 1999, during the heady days of the Internet boom.

 

Dow above 12,000 Shiokonli