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Does This Confirm a Bounce?

Friday Jan 26, 2007

Oil is up $0.60 this morning after yesterday's slight drop.

Merger Alert: This is the last day that you’ll be receiving Radar. But you will continue to receive Market Report every night as usual.

Instead of detailing opportunities in the early morning via Radar, we will be including them in the daily Dynamic Market Alert that you’ll also receive every early afternoon. This gives you a chance to hear many more opinions from our editors here at Taipan Financial News.

You can learn more about Dynamic Market Alert, and read past articles here.

http://www.taipanfinancialnews.com/dma_archive.html

Market Trends

In light of AT&T Inc.’s (T:NYSE) fantastic earnings release due to high-end numbers from its recent acquisition of Cingular Wireless, Verizon Communications (VZ:NYSE) is now under the microscope.

The company is expected to exhibit strength in its fourth-quarter earnings announcement on Monday. Most interesting to investors is how the company is progressing on the pay-television market.

Click here to continue reading.

VZ has a chance to make a big jump toward $40 per share.

The Telecom HOLDRS (TTH:AMEX) is already up to $36 after AT&T’s earnings reports, and the ETF isn’t even in overbought territory yet. It could rise to $38 in short order.

Material Profits

Oil is up $0.60 this morning after yesterday's slight drop.

Does this confirm a bounce at the ever-strategic $50 mark? Not yet, but I remain bullish. We've seen a very strong move higher over the past week, and with that move comes a lot of trading volume.

I'll explain the chart implications tonight in Market Report.