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| » Has the Market Bottomed? | |
| Bear market rally? The truth is we just don't know yet. It is not uncommon to have a 10% market rise in the midst of a bear market. A “bear market rally” is what many market watchers are saying we are currently experiencing. The Dow Jones looks like it may continue into its 5th day rally. Traders are pleasantly surprised by last week’s gains combined with a more optimistic tone from the white house. Bernanke commenting on CBS's 60 minutes that “the end is in sight” is also adding to confidence. Financial stocks are up sharply in morning trading and many analysts are starting to put out buy recommendations. “Cautiously optimimistic” is the best way to describe current trader sentiment this Monday morning March 16, 2009. | |
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| » Did we see the bottom in real estate? | |
| Did we see the bottom in real estate?
The Commerce Dept announced this morning that Housing Starts were up 22% for February.
Dow Jones Industrials are up slightly at mid day trading continuing positive market momentum.
Housing starts showed the first increase in 32 weeks to a seasonally adjusted 583,000 from 477,000 (revised) in Jan. Commerce Dept. announced “Biggest gain in 19 years” Single family homes were up 1.1 last month and building construction rose sharply by 80% to 212,000.
The big news is that housing starts are up dramatically showing signs of a bottom in real estate. This is showing up in positive moves in the financial stocks up nearly 50 percent since the March low.
March 16
Dow Jones looks like it may continue into its 4th day rally. Traders pleasantly surprised by his weeks gains. Broad based rally with every industry group showing good gains. China is expected to increase its stimulus package and talks of a change to mark to market rules add to market confidence. | |
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| » SEC Charging Stanford Financial Group, Alan Stanford and related parties $8B securities fraud | |
| SEC is charging Stanford Financial Group and Alan Stanford with a huge $8 Billion securities fraud. Inside the 25 page complaint alleges that Stanfor Financial Group lost money with Madoff as well as offering excessively high returns on CDs. | |
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