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FOOL GLOBAL WIRE LEXINGTON, KY. (December 19) -- And you thought they spelled relief, R-O-L-A-I-D-S! Well, there's a new spelling today, R-A-L-L-Y. And a rally was on indeed. The Dow was up 2%, the Nasdaq up nearly 1%, and the S&P 500 up just shy of 2%. An impressive move for the overall market in anyone's book.
With the exception of Investing for Growth's telecom equipment makers, the portfolio enjoyed a fine day. It wasn't a typical day, though, as the portfolio's token heavyweight, Coca-Cola, led the way with more than a 6% gain. Also recovering after recent weakness was Nautica Enterprises, picking up more than 5%.
In terms of company news, the only real story was yesterday's release of fabulous earnings from Nike. The athletic-wear giant posted earnings of 60 cents a share for the quarter, compared to analyst expectations of 54 cents and last year's results of 34 cents per share. The stock soared yesterday in after-hours trading and again today, picking up an additional 3%.
Nevertheless, even though 1996 seems like it might close with a bang, the whole year for IFG has been more of a whimper, significantly lagging the market indices. I hope by now, however, most of you have discovered the other screens we've been tracking in the IFG Statistics Center, all of which have whipped their parent, Investing for Growth.
So as we get closer to the new year, we'll be starting a new season of screens and performance results, a movement we're developing on the fly in the file called the Foolish Workshop. Please join us there and on the message boards (if you're an AOL reader) as we work together to create the greatest amateur collection of stock researchers in the universe! Wha-ha-ha-ha (I gotta get out of the house more often.)
Also, don't forget to check out the game I designed to go along with our Foolish Workshop ideas, The Thoroughbred Stock Challenge. If you're an AOL reader, just add the URL to your favorite places folder. If you're a Web reader, bookmark it so you can return each day to check the standings and read what's new. Fool on!
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