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by 2/13/2001 9:02 AM
Stocks quoted in this article:
The S&P Retail Index (RLX - 890.7) bounded back in yesterday's trading. The group added 3.7 percent in yesterday's trading, finding support from its 10-week moving average. The index has used this moving average for support a number of times over the past two months. The RLX has now added 27 percent since its October low during what looks suspiciously like an uptrend. The next key level for the RLX is 900. The level has provided resistance for the group on several occasions over the past year.
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by 2/13/2001 9:01 AM
Stocks quoted in this article:
The March 12-1/2 call on Humana (HUM - 13.45) was active in yesterday's trading. Nearly 3,500 contracts changed hands on the option with virtually all of the volume translating into new open interest. It appears that a portion of this activity may have been the work of traders rolling out positions in the front-month February 12-1/2 call. The stock added nearly nine percent in yesterday's trading en route to moving to its highest point in almost a month. The next challenge for the shares will be the 15 level. The area has acted as resistance for the stock on a couple of occasions over the past two years.
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by 2/13/2001 8:58 AM
Stocks quoted in this article:
Agricultural equipment manufacturer Deere & Co. (DE - 41.71) released first- quarter earnings this morning that missed Wall Street estimates by three cents per share. First-quarter sales came in at $2.68 billion versus $2.34 billion in the first quarter of 2000. In a bullish statement following the earnings release data, however, the firm stated that it still sees higher results for the year.

Technically speaking, DE sold off ahead of this morning's earnings release and closed back below its 10-day and 20-day moving averages. From a longer-term perspective, however, the equity is still trading above potential support at the site of its 20-week moving average. Going forward, it will be interesting to see how the market reconciles today's negative earnings data with the positive year-end outlook.
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by 2/13/2001 8:52 AM
Stocks quoted in this article:
Retail Sales numbers for January surprised the Street by coming in above consensus at 0.7 percent. Autos weighed down the figure as the ex-auto number was 0.8 percent. Analysts had been expecting the numbers to come in at 0.5 percent and plus 0.4 percent, respectively.

The December number remained unrevised at plus 0.1 percent.

This marks the sharpest advance in retail sales since last September and could be indicative of increased consumer confidence. However, one report does not construe a trend.

Both the Nasdaq and the S&P 500 March futures contracts spiked upward on the release, while the March 30-year bond future, which initially dropped, has since rebounded. <
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by 2/12/2001 3:50 PM
Stocks quoted in this article:
Pulitzer (PTZ – 54.20) released fourth-quarter earnings today, missing Street estimates by three cents per share. The newspaper publisher reported earnings of 43 cents per share, significantly down from the 52 cents per share the company reported for the same period last year. PTZ, which operates the St. Louis Post-Dispatch and the Arizona Star, cited slower revenue growth and higher newsprint costs from earlier in the year as the culprits for the lower-than-expected earnings.

The stock found support in its 20-day moving average in heavy trading today, climbing back to where it is now in good position to close back above its 10-day moving average. Since starting its climb in late November, PTZ has found solid support in these trendlines. <
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