March 17th 2011

The Dow Jones Industrial Average slipped deeper into the red on Wednesday, falling 242.12 points
to 11,613.30, while S&P 500 index dropped 24.99 points or 1.95%. The tech-heavy Nasdaq
Composite also fell 50.51 points or 1.89% to 2,616.82.

Japan’s nuclear crisis remains the focus of the market while Middle East tensions also provide the
element of uncertainties in the market.

The Dow’s significant fall wiped out all but CAT’s WTD gains. CAT still gained 0.38% this week, but
all other Dow 30 members slipped into the red. IBM and GE were the top losers of the day, losing
3.79% and 3.37%, respectively. CSCO stays at the bottom as the worst performer this year, losing
15.72%, followed by MRK with 13.76% decline. CVX and PFE are the top gainers in March, gaining
6.58% and 6.34%, respectively.

Housing starts data was below the expected 570K, falling from 618K to 479K, while PPI jumped
1.6% in February, after it rose 0.8% in January. Initially, PPI was expected to rise 0.7% in February.
The core measure however, showed a slowdown from 0.5% gains in January to 0.2% gains in
February.

Today, jobless claims will due and is expected to be at 389K, falling from prior week’s count of
397K. CPI will also be released today and the market expected the index to edge higher by 0.5%
after it rose 0.4% in January. Industrial production, leading indicators, and Philly Fed are to be
released as well today.

1 .DJI 11,613.30 (-242.12 ● -2.04%) .SPX 1,256.88 (-24.99 ● -1.95%) .IXIC 2,616.82 (-50.51 ● -1.89%)
 March 17th 2011

Stock Focus: Boeing, Co.

BA
Last Mar 16th Resistances 68.98 70.00 70.81 71.64 72.65
$67.69 2.87% Supports 66.88 65.40 64.08 62.97 59.48
WTD MTD Outlook
5.51% 2.22%
NEUTRAL
YTD 12-Month
3.72% 6.78% Strategy BUY dips to 66.88, PT 76.00, risk < 61.84

2 .DJI 11,613.30 (-242.12 ● -2.04%) .SPX 1,256.88 (-24.99 ● -1.95%) .IXIC 2,616.82 (-50.51 ● -1.89%)
 March 17th 2011

Stock Focus: General Electric, Co.

GE
Last Mar 16th Resistances 19.77 20.13 20.48 21.65 22.30
$18.95 3.37% Supports 18.64 17.93 17.70 17.05 16.77
WTD MTD Outlook
6.93% 6.19%
NEUTRAL
YTD 12-Month
3.61% 4.12% Strategy ACCUMULATE, risk < 16.77, PT 22.30

3 .DJI 11,613.30 (-242.12 ● -2.04%) .SPX 1,256.88 (-24.99 ● -1.95%) .IXIC 2,616.82 (-50.51 ● -1.89%)
 March 17th 2011

Stock Focus: JP Morgan Chase & Co.

UTX
Last Mar 16th Resistances 80.25 81.25 82.25 83.47 84.25
$78.33 1.48% Supports 77.48 77.05 76.27 75.02 73.43
WTD MTD Outlook
3.63% 3.81%
NEUTRAL
YTD 12-Month
0.50% 6.41% Strategy ACCUMULATE, risk < 16.77, PT 22.30

4 .DJI 11,613.30 (-242.12 ● -2.04%) .SPX 1,256.88 (-24.99 ● -1.95%) .IXIC 2,616.82 (-50.51 ● -1.89%)
 March 17th 2011

Price Performance - as of Mar 16th 2011

Code Last Dy WTD MTD YTD 12-Mos
AA 15.65 -2.43% -2.37% -2.98% 1.69% 9.90%
AXP 42.36 -2.93% -4.34% -3.42% -1.30% 2.67%
BA 67.69 -2.87% -5.51% -2.22% 3.72% -6.78%
BAC 13.69 -1.93% -4.80% 0.66% 2.62% -23.31%
CAT 100.40 -0.35% 0.38% 4.93% 7.20% 59.75%
CSCO 17.05 -1.96% -5.01% -18.54% -15.72% -34.50%
CVX 99.51 -1.70% -0.42% 6.58% 9.05% 31.23%
DD 51.53 -1.66% -2.59% 2.47% 3.31% 38.37%
DIS 40.60 -2.45% -5.43% 4.50% 8.24% 16.30%
GE 18.95 -3.37% -6.93% -6.19% 3.61% 4.12%
HD 35.68 -1.68% -3.93% -2.78% 1.77% 10.29%
HPQ 40.14 -1.93% -3.81% -11.80% -4.66% -24.48%
IBM 153.00 -3.79% -5.81% -3.90% 4.25% 19.30%
INTC 19.81 -1.83% -5.08% -7.69% -5.80% -11.13%
JNJ 57.66 -1.40% -3.40% -3.92% -6.77% -11.56%
JPM 43.81 -1.79% -4.22% -1.64% 3.28% -2.10%
KFT 30.85 -0.90% -2.68% 1.05% -2.09% 2.02%
KO 61.60 -2.27% -4.95% -0.98% -6.34% 12.00%
MCD 73.38 -2.32% -4.37% 0.14% -4.40% 9.98%
MMM 87.55 -2.18% -4.43% 0.13% 1.45% 4.76%
MRK 31.08 -2.45% -5.04% -6.02% -13.76% -16.79%
MSFT 24.79 -2.36% -3.47% -10.70% -11.18% -15.36%
PFE 19.30 -2.33% -0.87% 6.34% 10.22% 12.54%
PG 59.73 -1.53% -2.86% -6.96% -7.15% -5.60%
T 27.33 -1.73% -3.97% -0.58% -6.98% 5.77%
TRV 58.05 -0.80% -1.41% 4.01% 4.20% 7.62%
UTX 78.33 -1.48% -3.63% -3.81% -0.50% 6.41%
VZ 34.30 -1.63% -4.32% -3.73% -4.14% 10.57%
WMT 51.38 -1.31% -2.30% -9.38% -4.73% -7.59%
XOM 79.31 -2.56% -3.42% 0.41% 8.47% 18.41%

5 .DJI 11,613.30 (-242.12 ● -2.04%) .SPX 1,256.88 (-24.99 ● -1.95%) .IXIC 2,616.82 (-50.51 ● -1.89%)
 March 17th 2011

Analysts' Upgrades & Downgrades

Ratings Price Target
Code House
Previous Current Previous Current
AXP Barclays Capital Overweight Overweight - $55.00
HPQ Credit Suisse - Outperform - $60.00
IBM Bernstein Outperform Market Perform $170.00 $173.00
IBM Credit Suisse - Neutral - $175.00
IBM Argus Buy Buy - -
MMM Barclays Capital - Overweight $105.00 $110.00
n Sector-wide n Upgrade n Downgrade n Initiation
US Economic Calendar
Date Time Report Period Actual Forecast Previous
15-Mar 8:30 AM Import price index Feb 1.4% 1.0% 1.3%
15-Mar 8:30 AM Empire state index March 17.5 18.3 15.4
15-Mar 10:00 AM Home builders' index March 17 16 16
15-Mar 2:15 PM FOMC statement - 0%-0.25% 0%-0.25% 0%-0.25%
16-Mar 8:30 AM Producer price index Feb 1.6% 0.7% 0.8%
16-Mar 8:30 AM Core PPI Feb 0.2% 0.2% 0.5%
16-Mar 8:30 AM Housing starts Feb 479K 570K 618K
16-Mar 8:30 AM Current account deficit 4Q -$113.3bln n/a -$126 bln
17-Mar 8:30 AM Jobless claims 12-Mar 389K 397K
17-Mar 8:30 AM Consumer price index Feb 0.5% 0.4%
17-Mar 8:30 AM Core Consumer price index Feb 0.1% 0.2%
17-Mar 9:15 AM Industrial production Feb 0.7% -0.1%
17-Mar 10:00 AM Leading indicators Feb 1.0% 0.1%
17-Mar 10:00 AM Philly Fed March 30.9 35.9

Disclaimer: This report is provided for information purposes only. It is not an offer to sell or to buy any securities. This
report has been prepared based on sources believed to be reliable, but there is no assurance or guarantee regarding its
completeness and accuracy. The author accepts no responsibility or liability arising from any use of the report.

6 .DJI 11,613.30 (-242.12 ● -2.04%) .SPX 1,256.88 (-24.99 ● -1.95%) .IXIC 2,616.82 (-50.51 ● -1.89%)