Friday, October 07, 2005

Market Action/Weekend Preview

The Dow changed its tune on Friday after a better-than-expected employment report raised hopes about the economy's strength.

The Labor Department reported a moderate 0.2 percent increase in hourly wages last month, a signal that the economy is growing and not at risk of recession.

The makeup up the market is still dark, so we're not advising our readers to jump into the water just yet.

When the instituitons jump back into the market, you'll know.

With regards to stocks we either own or have derided in the past, I see that bearish sentiment for Pixar has dried up right in time for the holiday season.

The hot animation company was upgraded to outperform by CSFB.

The stock's been so badly beaten, a valuation-driven upgrade was inevitable.

Over the weekend, we're intitiating tons of coverage: Netflix, Overstock, First Data Corp, oven maker Middleby, and viable coal play Joy Global enter our coverage universe.

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