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Week In Review


Let loose!


Market Recap

The "Four Sisters" edged higher this week behind the technology sector as volume picked up on the NASDAQ. The NDX was able to break out over the 1820 level mentioned in this week's 'Jo to multi year highs fueled by Apple's (APPL) release of its new iPhone. Large caps continue to outperform the small cap issues as evident by the DJIA extending its gains from the December highs while the Russell continues to remain underwater.

After a harsh sell-off last week, the precious metals caught a bid despite a stronger dollar and oil plummeted to levels we have not seen since May of '05 ($52 / barrel). This helped to lift the Transports, but the lack of leadership from the DJT during our latest market climb could signal trouble in the near future as indices get extended.

Investors will be on edge next week awaiting the start of earnings season and reports on inflation, housing starts, and consumer sentiment.

The Four Sisters Performance

ETF Watch

Top Headlines

In a prime time speech Wednesday evening, President Bush outlined a new strategy for Iraq which included deploying an additional 20,000 troops to the troubled region. The new plan has Capitol Hill divided over the handling of the Iraqi situation. (Thurs 11th)

In a surprising move, the Bank of England raised its key interest rate a quarter of a point to 5.25% amid concerns of uncomfortable wage inflation. Meanwhile, the European Central Bank left interest rates unchanged, but contested that inflation risks still remain high. (Thurs 11th)

AirTran Holdings (AAI) raised its bid for MidWest Air Group (MEH) by nearly 18% after MidWest Air rejected their first offer from AirTran in early December. (Thurs 11th)

The holiday shopping season turned out better than originally thought as retail sales jumped 0.9% in December, the largest increase in five months. (Fri 12th)

Chip maker Advanced Micro Devices (AMD) said its margins were getting squeezed over a continued price war with rival chip maker Intel (INTC) and lowered their forecast. (Fri 12th)

Crude oil continued to face pressure this week reaching a year and a half low over an inventory buildup attributed to a mild winter and the legitimacy of OPEC's supply cuts. (Fri 12th)

Consumer confidence soared to a one year high in January as oil prices continue to moderate and housing slowdown fears dissipate. (Fri 12th)

Earnings Snapshot

The first DOW component to kick off earnings season was aluminum producer Alcoa (AA) which reported strong quarterly results and lifted their outlook. (Wed 10th)

Shares of biotechnology company Genentech (DNA) jumped after the firm reported a 75% increase in quarterly profit and reaffirmed guidance for 2007. (Thurs 11th)

India's Infosys Technologies (INFY) quarterly profit continued to impress investors sending the stock near a new 52 week high. (Thurs 11th)

Market Movers: Winners and Sinners

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No positions in stocks mentioned.

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