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Oct 30, 2006 - Issue #030

Alcoa?

DJ-30: 12090.26 +87.89 +0.73%. In the Real World: 50.35 +0.37 +0.74%.

UP: 19 (+1), Down: 10 (-2), 1 n/c (+1).

Trends (weekly): This is the subjective part.

Rising 19 (+4):

+*AIG, +*DD, DIS, +*GM, HON, HPQ, INTC, JNJ, JPM, KO, MCD, +*MMM, MO, MRK, +*PG, T, VZ, +*WMT, +*XOM.

Consolidating 7 (-4):

-*AXP, C, GE, -*IBM, -*MSFT, PFE, UTX.

Declining 4 (n/c):

AA, BA, CAT, HD.

* denotes change of category.

+/- denotes change of direction.

The Dow seems to be acting as though it already knows the outcome of the election or it doesn't care. I can't believe it doesn't care.

When it comes to politics and business, even though they undoubtedly have their preferences, most major companies are careful to contribute enough money to both sides so that no matter who wins they have a friend on either side of the isle. It's simply good business to hedge their bets. There's too much at stake financially.

AA: Although it doesn't show on the weekly chart yet, in my opinion, the daily chart looks like it may have turned the corner.