North Korean Propaganda Video Imagines Attack on U.S.

SEOUL, South Korea — North Korea is not known for its subtlety, famous instead for its soaring patriotic rhetoric and threats to turn the capital of its rival, South Korea, into a “sea of fire.”

But even by those standards, the latest volley of North Korea propaganda is noteworthy. Posted recently on YouTube, a video by one of the North’s propaganda agencies shows an animated version of Manhattan in flames — part of a dream in which a young Korean man envisions a glorious future of rocket launchings and the reunification of the Korean Peninsula. The background music to the celebration of perceived military might: an instrumental version of “We Are the World.”

“I see black smoke billowing somewhere in America,” the text that scrolls across the screen says in what are, in essence, subtitles of the man’s dream. “It appears that the headquarters of evil, which has had a habit of using force and unilateralism and committing wars of aggression, is going up in flames it itself has ignited.”

By Tuesday afternoon, the video had been removed from YouTube after a copyright complaint from Activision, the maker of the video game “Call of Duty,” from which the fiery New York scene was lifted. Copies, however, were up elsewhere on the Web, including on Live Leak.

The three-and-a-half-minute clip — titled “On Board Unha-9” and posted on YouTube on Saturday by Uriminzokkiri, a North Korean government Web site — is the latest evidence of the propaganda mileage Pyongyang is extracting from its Dec. 12 launching of its Unha-3 rocket, which the West considers North Korea’s first successful test of long-range-missile technology.

North Korea has been trumpeting the success of the rocket, which put a satellite into orbit, to its people, saying it was proof that their country was advancing toward a high-tech future. But the latest video is part of a years-long effort by the North to reach South Koreans and Koreans around the world through the Internet. (North Korea keeps its people, except for a tiny portion of its elite, cut off from the Internet.)

This is not the first time North Korea has portrayed attacks on the United States. Propaganda posters have shown a missile striking what looks like Capitol Hill.

The latest propaganda assault comes after weeks of increasingly strident missives from the North, which is angered by a Washington-led United Nations resolution tightening sanctions as punishment for the rocket test. The country has since promised a nuclear test, its third, as it tries to build what it calls a deterrent against attack by the United States or others.

There is no evidence that the North has the ability to strike the United States mainland with missiles.

The launching of the Unha-3 has become a symbol of pride in impoverished North Korea, where the government has told its people the success came despite American plots to “strangle and stifle” North Koreans. Thousands of scientists and officials there who were involved in the rocket project have been awarded government medals, according to North Korean news media.

Another YouTube video, also uploaded on Saturday, showed the Unha-3 rocket blasting off while a narrator identified as a worker in a Pyongyang cosmetics factory compared the moment to “flame of love igniting at first sight.” She also likened South Korean diplomats who pushed for United Nations sanctions to “ugly things” and “confrontational maniacs.”

Uriminzokkiri has been running Twitter and YouTube accounts since 2010, uploading more than 5,470 songs, news reports and videos. Earlier pieces had called Hillary Rodham Clinton, when she was secretary of state, a “minister in a skirt” and South Korean officials “servile dogs.”

South Koreans are blocked by their government’s firewall from gaining access to North Korean Web sites, but they could watch Uriminzokkiri posts on YouTube.

The “On Board Unha-9” video shows a sleeping man dreaming of traveling in a space shuttle named Kwangmyongsong-21. (The suggestion is that the North has a bright technological future, since the country is apparently up to only the third version of the Unha rocket, and the satellite that North Korea put into orbit in December is named Kwangmyongsong-3.)

The shuttle circles the Earth, passing over the Korean Peninsula, where people are jubilant over a reunification of the two Koreas. The camera then zooms in on the cataclysmic Manhattan scene from “Call of Duty,” which features Russians invading New York.

Marc Santora and Robert Mackey contributed reporting from New York.

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Live action: Twitter grabs Super Bowl spotlight

NEW YORK (AP) — Beyonce’s splashy show, a freak power outage, and —oh, yeah— a captivating game of football combined to generate a record 24.1 million posts on Twitter during Sunday night’s Super Bowl.

That’s up from 13.7 million last year — and that doesn’t even include chatter surrounding the ads.

Twitter said in a late Sunday blog post that about half of the more than 50 national TV spots that aired during the game included a “hashtag,” a word or phrase preceded by a number sign that’s used to organize subjects on the short messaging site. During last year’s game, only one in five ads included one. Brands ranging from Oreo to Tide and Budweiser, meanwhile, captured online buzz by linking the blackout to their brands in humorous tweets.

Super Bowl XLVII, like the London Summer Olympics and the U.S. presidential election, was yet another moment in which Twitter became the platform for millions of people to share quick reactions and participate in a massive, public conversation. Though it’s not as popular as Facebook Inc. or its buttoned-up cousin LinkedIn Corp., Twitter’s surging popularity during big events is a testament to its reach and utility. The question is whether these moments can translate into revenue for the 7-year-old company.

The company makes money by charging advertisers to promote individual tweets, accounts or trends designed to spark a conversation. Research firm eMarketer estimates that Twitter will book advertising revenue of $ 545.2 million this year, up 89 percent from 2012. Next year, worldwide ad revenue is expected to hit $ 807.5 million, a 48 percent increase from 2013.

Tweetable events such as the 34-minute Super Bowl power outage are ripe with marketing potential, provided that brands act quickly.

“It’s really clear right now that Twitter has a lock on real-time conversation on the Internet,” says eMarketer analyst Debra Aho Williamson.

To capitalize on this, Twitter has to show advertisers that it pays to promote their tweets — even though fans are likely to spread the catchiest slogans on their own, free of charge.

That’s what happened with a certain cream-filled cookie on Sunday.

It took Oreo’s marketers roughly 10 minutes after the power went out to tweet a picture of an Oreo cookie in the half-dark with the words: “You can still dunk in the dark.” As of Monday afternoon, the image had been shared on Twitter more than 15,000 times. Tide followed suit with the slogan “we can’t get your blackout. But we can get your stains out” with more limited success. The message was re-tweeted about 1,300 times. Calvin Klein, meanwhile, tweeted a video of a shirtless, chiseled male model doing crunches “since the lights are still out…”

Such “real-time marketing” is still in its infancy, but Williamson expects this to change, as more companies develop the ability to respond to events immediately.”

“To do what Oreo did actually takes a lot of pre-planning,” she says.

Laurie Guzzinati, spokeswoman for Oreo owner Mondelez says the power outage was a natural moment to engage consumers. The cookie’s TV ad had a planned social media component asking people to follow Oreo on Twitter and post photos on Instagram. The company had set up a “social media command center” that included people from Oreo’s brand team, the ad agency 360i and other partners whose job was to follow the Super Bowl and interact with fans on Facebook, Twitter and elsewhere.

Mondelez likely spent the going rate of as much as $ 4 million on its Super Bowl television spot. But Guzzinati says the company didn’t pay Twitter anything for the “dunk in the dark” picture. Still, Twitter says advertisers moved quickly following the outage.

Matt McGee, editor-in-chief of the blog Marketing Land, counted 26 Twitter mentions in the 52 national spots that aired during the game. Facebook, meanwhile, got only four shout-outs, while Google Plus walked away with zero (though Google Inc.’s YouTube scored one mention from Hyundai).

“When it comes to second-screen advertising, it’s Twitter’s world now and there’s no close second place,” McGee wrote in a blog post late Sunday night. “Last year, brands split their focus on Twitter and Facebook with eight mentions each. This year, brands recognize that Twitter is where they need to try to attract the online conversation around one of the world’s biggest events.”

David Berkowitz, vice president of emerging media at 360i, which worked on the Oreo campaign, says Twitter has done a good job tying itself into major television events.

“If you look at (Twitter’s) trending topics any day especially during prime time or major events, they’re heavily fueled by television,” he says. “So TV is responsible for Twitter’s growth in general.”

He thinks Twitter has done a better job than other social media sites like Tumblr and Pinterest in proving it’s the place to be when it comes to talking about big events online.

“A large part of it right now is just showing this is where the conversation is happening and building their brand around that,” he says. “Even with other very successful social media sites, no one is better at conversation than Twitter.”

__

AP Retail Writer Mae Anderson contributed to this story.

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Which Star Admits To Wearing a Fluorescent Unitard With Doc Martens?

Stylewatch
Style News Now

02/04/2013 at 04:45 PM ET

Courtesy Women’s Health

It’s hard to believe that the star whose street style we most worship has ever made a wardrobe misstep. But rather than bury the evidence, Jessica Alba is sharing her biggest fashion fail with Women’s Health (proof that stars are not like the rest of us; we may or may not have burned our sixth grade class photos).

“What do I regret wearing? There’s so many, I don’t think I could choose just one,” she admits. “I definitely rocked a Lycra unitard-y thing … One fluorescent color on one side, another fluorescent color on the other side with keyhole cutouts all the way up the body. I rocked it so hard with my Doc Martens.”

These days, the actress and Honest Company founder prefers colored denim and moto jackets to full-body neon Spandex. On her must-have list: a denim jacket, a sharp coat, a great pair of jeans, a fitted blazer, neutral t-shirts and an LBD.

Check out an ab-baring exclusive photo from the Women’s Health shoot (below), and pick up the March issue of Women’s Health to find out more of Alba’s fashion and beauty tips, as well as details about her new book, The Honest Life. Tell us: What’s your biggest fashion regret?

Courtesy Women’s Health

–Jennifer Cress

PHOTOS: CHECK OUT MORE STARS WITH GREAT STYLE!

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Bullying study: It does get better for gay teens

CHICAGO (AP) — It really does get better for gay and bisexual teens when it comes to being bullied, although young gay men have it worse than their lesbian peers, according to the first long-term scientific evidence on how the problem changes over time.

The seven-year study involved more than 4,000 teens in England who were questioned yearly through 2010, until they were 19 and 20 years old. At the start, just over half of the 187 gay, lesbian and bisexual teens said they had been bullied; by 2010 that dropped to 9 percent of gay and bisexual boys and 6 percent of lesbian and bisexual girls.

The researchers said the same results likely would be found in the United States.

In both countries, a "sea change" in cultural acceptance of gays and growing intolerance for bullying occurred during the study years, which partly explains the results, said study co-author Ian Rivers, a psychologist and professor of human development at Brunel University in London.

That includes a government mandate in England that schools work to prevent bullying, and changes in the United States permitting same-sex marriage in several states.

In 2010, syndicated columnist Dan Savage launched the "It Gets Better" video project to encourage bullied gay teens. It was prompted by widely publicized suicides of young gays, and includes videos from politicians and celebrities.

"Bullying tends to decline with age regardless of sexual orientation and gender," and the study confirms that, said co-author Joseph Robinson, a researcher and assistant professor of educational psychology at the University of Illinois in Urbana-Champaign. "In absolute terms, this would suggest that yes, it gets better."

The study appears online Monday in the journal Pediatrics.

Eliza Byard, executive director of the Gay, Lesbian & Straight Education Network, said the results mirror surveys by her anti-bullying advocacy group that show bullying is more common in U.S. middle schools than in high schools.

But the researchers said their results show the situation is more nuanced for young gay men.

In the first years of the study, gay boys and girls were almost twice as likely to be bullied as their straight peers. By the last year, bullying dropped overall and was at about the same level for lesbians and straight girls. But the difference between men got worse by ages 19 and 20, with gay young men almost four times more likely than their straight peers to be bullied.

The mixed results for young gay men may reflect the fact that masculine tendencies in girls and women are more culturally acceptable than femininity in boys and men, Robinson said.

Savage, who was not involved in the study, agreed.

"A lot of the disgust that people feel when you bring up homosexuality ... centers around gay male sexuality," Savage said. "There's more of a comfort level" around gay women, he said.

Kendall Johnson, 21, a junior theater major at the University of Illinois, said he was bullied for being gay in high school, mostly when he brought boyfriends to school dances or football games.

"One year at prom, I had a guy tell us that we were disgusting and he didn't want to see us dancing anymore," Johnson said. A football player and the president of the drama club intervened on his behalf, he recalled.

Johnson hasn't been bullied in college, but he said that's partly because he hangs out with the theater crowd and avoids the fraternity scene. Still, he agreed, that it generally gets better for gays as they mature.

"As you grow older, you become more accepting of yourself," Johnson said.

___

Online:

Pediatrics: http://www.pediatrics.org

It Gets Better: http://www.itgetsbetter.org

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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S&P 500 posts worst day since November; McGraw-Hill shares sink

NEW YORK (Reuters) - Stocks slid on Monday, giving the S&P 500 its worst day since November, as renewed worries about the euro zone crisis caused the market to pull back from recent gains.

Shares of McGraw-Hill shed 13.8 percent to $50.30, their worst daily percentage decline since the October 1987 market crash, after news the U.S. Justice Department plans to sue Standard & Poor's, a unit of McGraw-Hill, over its mortgage bond ratings. It would be the first such federal action against a credit rating agency related to the recent financial crisis.

Chevron and Wal-Mart were among the biggest drags on the Dow after analyst downgrades, and all 10 S&P 500 sectors were lower. The losses follow Friday's market climb that left the S&P 500 at a five-year high and the Dow above 14,000.

"The market is extended and due for a pullback. I think people are looking for an excuse to make sales, and there (is) the concern coming from Europe," said Michael James, senior trader at Wedbush Morgan in Los Angeles.

Spanish and Italian bond yields rose, renewing worries about the euro zone's sovereign debt crisis. Spain's prime minister faced calls to resign over a corruption scandal, while a probe of alleged misconduct involving an Italian bank was expected to widen three weeks before a national election.

Adding to market pressure, data from the U.S. Commerce Department showed overall factory orders for December were below economists' expectations.

The Dow Jones industrial average <.dji> was down 129.71 points, or 0.93 percent, at 13,880.08. The Standard & Poor's 500 Index <.spx> was down 17.46 points, or 1.15 percent, at 1,495.71. The Nasdaq Composite Index <.ixic> was down 47.93 points, or 1.51 percent, at 3,131.17.

With 18.7 billion shares traded, it was the busiest day on record for McGraw-Hill shares. Shares of ratings agency Moody's Corp fell 10.7 percent at $49.45, their worst one-day drop since August 2011.

The benchmark S&P 500 rose on Friday, leaving it roughly 60 points away from its all-time intraday high of 1,576.09, while the Dow's march above 14,000 was the highest for the index since October 2007.

The S&P index remains up about 5 percent for the year, with nearly half of the gains coming after U.S. legislators temporarily sidestepped the "fiscal cliff" of automatic tax increases and spending cuts.

The CBOE Volatility index VIX <.vix>, Wall Street's so-called fear gauge, jumped 13.7 percent.

Chevron dipped 1.1 percent to $115.20 after UBS cut its rating to neutral, while Wal-Mart Stores Inc shed 1.2 percent to $69.63 after JP Morgan lowered its rating on the world's largest retailer and reduced its price target.

Shares of household products company Clorox rose 0.7 percent to $79.72 after quarterly profit beat analysts' estimates as a severe flu season boosted sales of disinfecting wipes.

According to Thomson Reuters data, of the 256 companies in the S&P 500 that have reported earnings through Monday morning, 68.4 percent have reported earnings above analyst expectations, compared with the 62 percent average since 1994 and the 65 percent average over the past four quarters.

S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent forecast on October 1.

In deal news, software maker Oracle Corp agreed to buy network equipment company Acme Packet Inc for $1.7 billion net of cash. Shares of Oracle were down 3 percent at $35.13 while Acme Packet shot up 23.7 percent to $29.59.

Shares of Herbalife Ltd ended up 1.3 percent at $35.54, recovering its losses ahead of the close. The New York Post reported the seller of weight loss products is facing a probe by the Federal Trade Commission.

Volume was roughly 6.3 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Decliners outpaced advancers on the NYSE by nearly 4 to 1 and on the Nasdaq also by about 4 to 1.

(Editing by Kenneth Barry and Nick Zieminski)

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Afghan Airline, Kam Air, No Longer Under U.S. Ban

KABUL, Afghanistan — The American military on Monday reversed a recent decision to blacklist one of Afghanistan’s main airlines, Kam Air, on suspicion of drug smuggling, and it agreed to share details of its accusations with the Afghan government.

The turnaround came after days of Afghan criticism and what some Western officials described as a disagreement between the military and the American Embassy on the prudence of the ban, which would have forbidden any American military contracts with Kam Air. The prohibition came to light in news reports last week, and it was an embarrassment after a positive meeting between President Obama and President Hamid Karzai in Washington in which Mr. Karzai stressed the importance of Afghan sovereignty.

According to a statement released late Monday evening by United States Forces-Afghanistan, the military said that senior officials met with senior Afghan officials at the Foreign Ministry on Saturday, explaining the reasons behind the blacklisting and offering information about the company that led to the ban.

In return, the statement said, the Afghan government agreed to investigate Kam Air and take further action, if needed. Afghan officials could not be reached for comment.

The statement noted deference to the Afghan government’s sovereignty as one reason that it had lifted the ban. The United States military does not directly contract with Kam Air, but the lines are somewhat blurry because the military pays for many activities by the Afghan government. Banning Kam Air from military contracts cast a shadow over the company and posed difficulties for Mr. Karzai’s travel plans. He frequently charters Kam Air planes for official visits abroad, but he was forced to make other plans for his current visit in Europe, officials said.

On Monday, he met in London with Prime Minister David Cameron and President Asif Ali Zardari of Pakistan to discuss halting efforts to restart the peace process with the Taliban. The leaders reaffirmed support for establishing an office in Qatar to aid in talks with Taliban delegates there, and set a six-month deadline for progress, officials said.

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BlackBerry Z10 Smartphone Already Going for $1,500 on eBay

The new BlackBerry Z10 smartphone won’t be out for weeks, but you can already get your hands on it via eBay for about $ 1,500.

BlackBerry — the company formerly known as Research In Motion (RIM) — announced the new smartphone at an event earlier this week and handed out samples to guests and members of the press in attendance. It didn’t take long for the Z10, which could potentially turn around the struggling company, to pop up on eBay.

[More from Mashable: BlackBerry’s Secret Weapon: Women]

One page notes “this particular device was given to all attendees of the Jan. 30, 2013 product launch.”

[More from Mashable: Don’t Hold Your Breath for More BlackBerry Tablets]

BlackBerry didn’t tell attendees what they can or can’t do with the device, which comes unlocked, according to the listing, and without a SIM card.

Four units are currently being sold on eBay, with bids starting at $ 800 and rising quickly. The auction for the one going for $ 1,500, which has eight bids so far, will end this afternoon.

Images by Mashable and via eBay, eBay

Click here to view the gallery: BlackBerry Z10 Review

This story originally published on Mashable here.

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Jennifer Hudson & Alicia Keys Deliver Powerful Super Bowl Performances

By Maggie Coughlan

02/03/2013 at 06:45 PM EST

And Super Bowl XLVII begins. Minutes before kickoff, Jennifer Hudson and Alicia Keys took to the field to deliver powerful performances of their own.

Accompanied by a children's chorus from Sandy Hook elementary school, Hudson sang "America the Beautiful." Then, Keys belted out her rendition of "The Star-Spangled Banner" while playing piano.

With Beyoncé's halftime show just a few plays away, the big game seems more like a concert than a football game.

Tell us in the comments which songstress stole your heart.

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New rules aim to get rid of junk foods in schools

WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.

For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.

Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.

The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.

Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.

"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.

Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.

The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.

The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.

Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.

"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.

Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.

The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.

Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.

Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.

"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.

The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.

A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.

___

Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick

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"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.

That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.

Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.

Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.

Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.

"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."

The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.

Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.

Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .

But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.

Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.

During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.

MOM AND POP STILL WARY

Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.

This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.

Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.

"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.

Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.

He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.

Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.

On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.

Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.

Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.

Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.

(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)

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