Volatility is becoming the market's new name. Much of yesterday's 700+ point drop in the DJIA was largely erased as the DJIA was up more than 400 points for most of the last hour today. The markets weren't driven by a bailout package. It was the BELIEF that a new passage would get passed by the weekend. Consumer confidence did come in stronger than expected, although the Conference Board noted that the data cut off date was September 23, before the last round of malaise hit.

Here were today's unofficial closing bell levels:
DJIA 10,862.61 (+497.16; +4.80%)
NASDAQ 2,082.33 (+98.60; +4.97%)
S&P500 1,163.93 (+57.54; +5.20%)
10YR T-NOTE 3.827% (+0.195)
52-WEEK LOWS
TOP UPGRADES, many moved here.
TOP DOWNGRADES

Abercrombie & Fitch Co. (NYSE: ANF) rose after an analyst upgrade this morning. The young adult clothing company was raised to an "Outperform" at FBR. With shares on a year low and having sold off nearly 60% and a P/E ratio of well under 10.0, that brought some interest from Wall Street. Shares were up over 11% at $39.70 in today's final minutes.

Huntsman Corp. (NYSE: HUN) was one monster mover today. A judge ruled that the private equity firms that walked away could not claim the material adverse change. Shares were up a whopping 70% at $12.59 in today's final minutes.

Intel Corporation (NASDAQ: INTC) rose on a call out of Piper Jaffray as one of several key technology upgrades. The firm raised its Neutral rating to a Buy rating with a $22.00 price target. Shares were up 6% at $18.36 in the final minutes of the trading day.

CMGI Inc. (NASDAQ: CMGI) is now ModusLink Global Solutions, Inc. (NASDAQ: MLNK). Shares actually rose over 12% to $10.00 by the final minutes of the trading day.

Conexant Systems Inc. (NASDAQ: CNXT) rose sharply after the communications chip company raised its guidance to EPS of $0.24 to $0.26 vs. $0.15 estimates. Imagine a chip company raising guidance in today's climate. Shares were up 42% at $4.10 in the final trading minutes today on more than 5-times volume.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• ADC Telecommunications Inc. (NASDAQ: ADCT) beat Q2 estimates and raised its full-year guidance.
• Alcoa Inc. (NYSE: AA) near-term earnings prospects led to an analyst downgrade.
• Banco de Chile (NYSE: BCH) earnings prospects after an acquisition led to an analyst's upgrade.
• Benihana Inc. (NASDAQ: BNHN) posted lower Q4 profits but still beat earnings estimates.
• Bob Evans Farms Inc. (NASDAQ: BOBE) reported solid Q4 results due in part to cost management.
• Brown-Forman Corp. (NYSE: BF.B) easily beat Q4 estimates and offered full-year guidance.
• CMGI Inc. (NASDAQ: CMGI) lowered its guidance, sending shares tumbling 25%.
• Coca Cola Hellenic Bottling Co. (NYSE: CCH) warned of weaker earnings due to economic conditions.
• Conn's Inc. (NASDAQ: CONN) reported solid Q1 results and issued in-line guidance for the year.
• Dick's Sporting Goods Inc. (NYSE: DKS) earnings prospects impress analysts despite recent guidance.
• Guess? Inc. (NYSE: GES) topped Q1 expectations due to strong international expansion.
• Krispy Kreme Doughnuts Inc. (NYSE: KKD) swung to a Q1 profit despite falling revenues.
• Lehman Brothers Holdings Inc. (NYSE: LEH) posted a bigger-than-expected loss on further write-downs.

Today was indicative of another mixed day for equities, and other markets were mixed as well. We saw a sharp rise in bond yields due to a more hawkish fear from Wall Street about the FOMC rather than the wider than expected trade deficit reported this month. Oils closed down again on increased production today, although we still sit north of $130/barrel. Here are the unofficial closes of major US index levels:

• DJIA 12286.18 (+5.86)
• S&P500 1358.10 (-3.66)
• NASDAQ 2448.94 (-10.52)
• 10YR T-NOTE 4.099% (+0.107%)
• Top 10 Analyst Calls

There were also many biotech stocks today (ACHN, CRXL, MNKD, SQNM, CYTR, CYTX, INGN, ATHX, MITI, GTOP) which saw mystery moves to the downside on either not big news or as a follow-on trading move after news from the last few days.

American Superconductor Corp. (NASDAQ: AMSC) saw a sharp rise and shares were up almost 20% to $43.25 in the final minutes of trading today. The company secured a follow-on order today from China worth more than two-year's worth of revenues for the company.

CMGI (NASDAQ: CMGI) is off almost 15% after posting poor earnings.

ArcelorMittal (NYSE: MT) is down about 4% after news that it will open new mining operations.

Alcatel-Lucent (NYSE: ALU) is off 2% without any obvious news.

Petro-Hawk (NYSE: HK) is up almost 3% after positive comments from Jim Cramer.

Stocks may trade differently in the pre-market than they do in the regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

CMGI Inc. (NASDAQ: CMGI) has sure seen shares come back down of late. Over the last 6 months after the incubator went through a bit of a transformation that started paying off for the stock at the end of 2006 and throughout much of 2007. The stock has recently gave back much of the 66% or more gain in its stock, but there is still quite a large following in the stock, and investors and traders still look for similar situations out there. The two most similar companies in the past were Safeguard Scientifics (NYSE: SFE) and Internet Capital Group (NASDAQ: ICGE). Internet Capital Group is still considered an internet incubator and investment vehicle, but Safeguard Scientifics has shed its 'incubator' activities and gone back to being a pure holding company.

Last week, I got the chance to interview Peter Boni, CEO & President of Safeguard Scientifics, Inc. Most CEO's are a bit reluctant to shoot for the stars on-record, but Mr. Boni gave me a goal that seems like quite a target: to re-become a $1 Billion company. That would imply a roughly 200% gain from today's $310 million market cap. Sure, that has a lot of stipulations; but the executive compensation depends heavily on the stock. Mr. Boni joined roughly 22 months ago and shares are up roughly 50% since that time. The comapny also feels it has an underlying "value play" associated with the stock because of its stock holdings in Clarient, Inc. (NASDAQ: CLRT) and cash equating to 80% of its market cap. The rest of the market cap could be considered its other 15 investments in private companies, physical assets, and a loss carry to offset gains that is larger than the current value of the company. It is always hard to call a $300+ million market-cap stock a value play because of the size and limited following, but, all in all, the long-term goals of the company and the current value of the holdings and 'hidden value' in other assets make this one quite impressive.

If we were in a bear market or if the IPO, venture capital, or private equity markets were dead, I might have a bit more caution. But in today's environment this one seems like an interesting play for aggressive growth and small cap investors that want some perceived value behind the investment vehicle they are in. Obviously, there is a large tie to the success in Clarient Inc. Shares have also been a bit volatile, but that is par for the course in small cap stocks like these.

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Short sellers are a strange breed when they are "only short sellers" in their approach. They may have different motivations than others, and they may have a different time horizon. Some of them are also gluttons for punishment and sometimes you would think they are purely out to stand in front of a freight train. They may fight over the valuations, but they are definitely standing in the middle of an ongoing trend.

The core internet stocks saw a mixed bag, but you'll be surprised when you see the short sellers are betting harder and harder against Amazon.com Inc. (NASDAQ: AMZN).

Can you believe short sellers were betting against the online advertisers? When I saw this I couldn't help but blurt out "What a bunch of dumb %$#@s!" Sorry to be rude, but if I saw an adviser or broker making those trades, they would be fired on the spot.

Betting against the online brokerage firms is a pure bet against the market and a pure bet against overall trading volume. Short sellers have been increasing their pact against these firms, so maybe they are thinking "sell in May and go away" is the right thing for this summer.

Short sellers are betting harder and harder against all of the internet incubators ... can you say CMGI (NASDAQ: CMGI)?

Internet security was a mixed bag. With "hacking season" starting, as college and high school kids have wayyyy too much free time on their hands, you might as well expect the hack reports to pick up by mid-July.

Online travel stocks didn't give very much insight, but there are still quite a few dollars betting against the sector.

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

CMGI Inc (NASDAQ: CMGI), one of the purest Internet plays from the 1990s, was mentioned in Barron's this weekend as a stock worth looking at again.

The other pure-play Internet incubator has also come back to life -- Internet Capital Group Inc (NASDAQ: ICGE). This stock was also a must-own incubator stock during the 1990s that followed CMGI's path and fell on hard times.

Internet Capital has a bunch of successful businesses, having sold or taken public a few for big profits, believe it or not.

Currently, Internet Capital has a number of businesses that might be ripe for being taking public. StarCite, an on-demand global meetings management company, recently merged with OnVantage, which should allow it to improve revenue growth and profitability.

Internet Capital also owns a majority interest in ICG Commerce, a procurement services business, which has had some big wins getting Kimberly-Clark as a customer along with contract wins with Microsoft, Alcan and other multinational companies.

Therefore, do not only look at CMGI, also give Internet Capital Group a look.

It seems like yesterday that CMGI Inc. (NASDAQ:CMGI) was one of the hottest stocks to own. These were the Internet days -- now seven years ago. The stock prices of companies that were internet -based went to the moon and "incubator" companies that invested in internet companies went even farther into the galaxy. CMGI was one of those stocks. The good news is that CMGI stayed alive and looks like it may finally be ready for a comeback.

CMGI consists of two divisions. One is ModusLink which, according to the company's website, "provides industry-leading global supply chain management services and solutions that help businesses market, sell and distribute their products around the world." CMGI's other business, @Ventures, founded in 1995, focuses on identifying, financing and fostering new companies -- especially those engaged in developing cutting-edge technologies.

CMGI announced this week that it invested in an alternative energy company, Earthanol, Inc., which builds and operates waste-to-ethanol production plants. Earthanol's website explains that the "most logical feedstocks to turn to (to produce ethanol) are the millions of tons per year of waste residuals from agricultural, industrial, and urban activities. Earthanol believes that the conversion of these feedstocks through acid or enzymatic hydrolysis and thermal conversion/syngas catalysis is the next big wave in renewable fuels development."

Although @Ventures' total investment is only $2 million, the investment did catch the eye of Wall Street last Friday. The investment consortium was one area of interest to all who saw this press release. The team of investors also includes Nth Power, Sail Venture Partners, and Calvert Funds. The total investment is approximately $7 million.

More importantly, this is not the first investment in clean energies. In February, CMGI invested in "H2Oil," a Utah-based cleantech company that specializes in the "reclamation of valuable hydrocarbons and fresh water from oil and gas exploration and production processes." To me, this is an even more significant venture. I believe that the future, in the near term, for clean technologies and alternative energy will be finding ways to assist traditional fossil fuel production in a way that is cleaner and safer for the environment -- until the day comes when we rely only on renewable fuels from the sun and wind and our agricultural production. CMGI has also invested in solar. Last year, the company invested in Advent Solar, a solar operation that develops photovoltaic technology to convert sunlight into electricity. The company's solar cells are focused on cheaper technology to achieve the same effective result as the more expensive competitors.

Type of Company: A well-managed and tenacious publicly-traded company that has a portfolio of investments in start-up technologies (originally internet-focused, and now cleantech, alternative energy and diversified technologies) and another division which works to help businesses sell, market and deliver their products and services throughout the entire order-to-supply-to-delivery process.

Stock Price Target: Don't be surprised if this $1.70 stock more than doubles and hits $4 in the very near future. I have seen many companies enjoy a second life and this management team is smart and committed. The former CEO, David S. Wetherell, brought in a top notch team to rebuild the business and hit profitability and receive shareholder return by making the right investments at the right time.

Hilary Kramer is a financial editor and money coach for AOL and an authority on investing. Visit her at www.hilarykramer.com.

It took nearly seven years, but during the trading day on Sept. 28, the Dow Jones industrial average briefly reached a new high of 11,725, surpassing the prior peak close of 11,723 set on Jan. 23, 2000.

Remember those days? That was during the height of the dot-com boom, when the economy was speeding ahead and technology shares were all the rage. My brother-in-law was holding CMGI, hoping for "one more double" and I was begging him to sell half and buy oil stocks instead (if only you'd listened, Bob!). I was very pregnant with my first child -- now a first grader. Time does fly.

Stocks fell for three painful years, first as the dot-com bubble burst, then Sept. 11 terrorist attacks pounded the economy, and finally, as corporate scandals like Enron and Worldcom gripped the nation. The Dow hit a low of 7,286 on Oct. 9, 2002. (a 38% decline from high).

Then, surprise, surprise, 2003 was a boom year for equities. But after that, the charts look kind of flat and bumpy on the road to Dow 11,000. I remember wondering in 2004 and 2005, would we ever get past that level? And this year, could we stay above it? Since August, however, stocks have had a very nice run up to today's close of 11,718.

What is fueling the stock buying now, my colleague Sarah Gilbert asked recently. It's certainly not obvious.

After all, the economy is slowing. The latest reading on gross domestic product came in even lower than thought. Today the Commerce Dept reported 2.6% growth in April-June, when 2.9% growth was reported as a preliminary figure a month ago. Growth in the first quarter was 5.6%.