New Year Rally Continues

TradingMarkets just released a proprietary stock rating method called PowerRatings. This method ranks stocks 1-10 and the higher the rating, the greater the one-week historical gain has been.

PowerRatings were created by Cesar Alvarez, Director of Research for Connors Capital, LLC. Cesar looked back at more than 5.5 million trades between Jan 1, 1995 and Dec 1, 2005. The results are based on the average 5-day performance.

To find out more about PowerRatings click here.

Dow Jones Industrial Average closes above 11,000 at 11,011.26; first time Dow has closed above 11,000 since June 7, 2001.

Nasdaq at five year closing high, up 13.07 at 2318.69; tech stocks lead the drive.

Consumer credit falls for two straight months; first such occurrence in over two years.

GM closes up 7.4% after being upgraded by Goldman Sachs; company also unveils new Camaro in Detroit.  GM's (PowerRating).

IBM down 1% after being downgraded by J.P. Morgan. IBM's (PowerRating).

Stocks On The Move

Saks (PowerRating) Appoints Stephen Sadove CEO; Reveals Strategic Alternatives For Parisian Department Store (full story).

Radio Host Howard Stern Makes His Debut On Sirius Satellite Radio (PowerRating) (full story).

Helen Of Troy (PowerRating) Q3 Profit Falls 27.2% On Lower Revenue And Gross Margin, Sees Q4 EPS Below Estimates, Cuts FY05 EPS Outlook (full story).

Boston (PowerRating) Scientific Q4 Preliminary Sales Decline 3.8% On Lower Stent System Sales (full story).

Triad Hospitals (PowerRating) Cuts Q4 EPS Below Estimates, Guides Q4 Revenues Above Consensus, Sees FY06 EPS Below Estimates (full story).

Celgene (PowerRating) Sees Promise In Blood Cancer Drug (full story).

Economic News

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