The World Is A Book. And Those Who Do Not Travel Read Only One
Page.... St. Augustine

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WEEK IN REVIEW :

Before the bell Monday, Citigroup (C) - the most influential
component within the most highly weighted economic sector
(financial) - reported Q2 earnings shy of analysts' forecasts due
primarily to sluggish fixed-income revenues... With the markets
having already factored in a lot of positive earnings news, as
evidenced in a two-week rally that lifted the S&P (+2.8%) back into
positive territory for the year and to its best levels since July
2001, Citigroup's disappointment became the catalyst that left
participants little choice but to lock in some hefty profits... As
all ten economic sectors closed in negative territory.

Tuesday was a very volatile trading day. Wall Street regained its
composure, marching higher after companies including Merrill Lynch &
Co. and International Business Machines Corp. beat earnings
expectations. Stocks maintained their momentum on the expectation of
strong earnings reports by Intel Corp., Amgen Inc. and Motorola
Inc., which reported after the close of regular trading. .Intel
reported in-line Q2 results; guides Q3 revs in-line; ups capex
guidance (INTC) Yahoo! reported in-line, ex items; guides in-line
(YHOO)

Stocks turned higher Wednesday after Federal Reserve Chairman Alan
Greenspan delivered an upbeat assessment of the economy and Wall
Street focused on the solid earnings reported by a growing number of
companies. The Nasdaq composite index and the Standard & Poor's 500
hit new four-year highs ,while the Russell 2000 closed at a new all-
time high.

Another series of attacks in London unnerved Wall Street Thursday,
sending stocks falling as investors looked past strong earnings and
China's decision to revalue its currency.NYSE internals were weak
all day .. down over 2 to 1. Now China's news that it would float
its currency against a basket of other currencies was seen as
positive possibly giving U.S. exporters more opportunities in China.
The move was also seen as a boon to blue-chip companies, many of
which have benefited from China's economic boom. Bonds fell sharply,
however, on fears that higher import prices could spur inflation.The
United States had pressured China to revalue its currency for some
time, accusing the country of keeping its yuan artificially low in
order to undercut U.S. manufacturers.

On Friday, the Dow managed to close positive at the close. The Dow
Jones industrial average was up 23.49 points, or 0.22 percent, at
10,651.26 and the Standard & Poor's 500 Index was up 6.64 points, or
0.54 percent, at 1,233.68. The Nasdaq Composite Index was up 1.14
points, or 0.05 percent, at 2,179.74. For the week, the Dow edged up
0.1 percent, the S&P 500 inched up 0.5 percent and the Nasdaq rose 1
percent.

Trading Tip for Monday Morning: On Friday The ES futures had an
INSIDE DAY candle. Look for a break of either the high or low of
that candle.... and trade in that direction.

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When it comes to manipulative tricks,the true professionals are in
Washington D.C.

One of the most blatant examples of government manipulation is the
consumer price index (CPI). This data is stretched, smoothed and
distorted in every conceivable way possible to dampen any sign of
inflation.

Some may not understand why data manipulation is a big deal. The
simple answer is that by pretending everything is OK now, we are
guaranteed to make everything worse later. The federal government,
in concert with Wall Street, is engaged in a long-standing fiction
to convince us that all is well. Meanwhile, this false assurance
leads us down a path of complacency, as the problem gets worse.

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Wal-Mart plans to sell cheap Chinese clothes in Japan's Seiyu stores

Cheap textiles 'Made in China' is Wal-Mart's concept for success in
Japan. The company has a large minority share in Seiyu. Currently it
owns 50% of this retail chain. It has plans expand to a 66.7 per
cent ownership stake.

Japanese press reports about plans to renovate between 10 and 15
Seiyu stores, which would then serve as Wal-Mart's entry route to
the Japanese market. These stores would focus on cheap Chinese
textiles, sold for prices up to 40 per cent below those that
competitors charge for similar Japanese made clothing articles.

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Utility stocks

Utility stocks traditionally have been popular with income-oriented
investors. Dow Theory Forecasts newsletter recently recommended 10
A-minus and B-rated utilities with average yields of 4 percent. To
weed out weak companies, DTF eliminated those with payout ratios
(dividends as a percentage of earnings) of less than 70 percent and
quality scores of at least 50.

The 10: Energy East, Exelon,Keyspan, National Fuel Gas, New Jersey
Res, Northwest Natural Gas, NSTAR, Southern Co., WGL Holdings and
WPS Resources.

I own ... Cohen & Steers Reit and Utility Income Fund Inc (RTU) It
pay 7.3% annually.



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As Heard & Seen in The Market Vu Show's "InnerVu"


rpcchart : MSFT just BROKE MAY HIGHS on Volume
Bestrades: GIVE ME RANGE OR GIVE ME DEATH Laughing out loud !

mike_leonardi86 : I know there was unfilled value down there at
122.2 from a few days ago, if the 80% rule guy is around.

alleyb : Still waiting for Warren Buffet Berkshire Hathaway
reporting date?

Thelascone : Where is Christine ? ... at the opening of Del Mar ...?

Market_"INNER_VU"} slept like a baby,,woke up every 10min crying

jctay96 : Hello, which are most buyable penny stocks in the market ?

CajunBoy : they are just setting the stage and practicing for US
cities, In MY very "humble" opinion... unfortunately for
everyone...........!

prestwickdrive : London's University College Hospital cordoned off
by police - Reuters

sicilian : I'm new, how do you get passwords for the different relay
channels?



Make sure you pass the word around about The Market Vu Show
Checkout the new changes www.themarketvushow.com

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