« Quotes from Chairman Steve | Main | General Motors: The End Is Near »

Finally some good news! The market started off shaky today, but rallied as the day wore on. The S&P 500 gained 0.83%, but the really big winners were the small fries. The Russell 2000 Index of small-cap stocks jumped 1.58%. And our Buy List had a very nice day. Our 25 stocks gained 1.21%.

Woo Hoo!

**Happy Dance**

Only four of our stocks went down and 21 closed higher. The big winner was Progressive (PGR), which added 4.23% to close at another new high. Golden West (GDW), Respironics (RESP) and Frontier Airlines (FRNT) also brought home the Benjamins.

Brown & Brown (BRO) reached a new high today. The little insurer will report earnings on Monday. The current estimate is for 51 cents a share. Also from our Buy List, Commerce Bancorp (CBH) will report on Monday.

Some of the major stocks not on our Buy List that will report on Monday include IBM (IBM), Citigroup (C), Wachovia (WAC) and General Motors (GM). I’ll make a bold prediction: GM will lose One Gazillion Dollars. You heard it here first.

And finally, Macatawa Bank Corporation (MCBC) will report on Monday. I’ve never even heard of them, but I kinda like the name. The Street’s estimate is for 50 cents a share, so there you go.

One more thing. What do you get when you add a 24-year-old managing a 20-member trading staff, a phony offshore company and falsified records? Answer: A 42-month prison sentence!

Posted by edelfenbein at October 14, 2005 5:14 PM