Saturday, February 7, 2009

Great week after the worst January

on record. Dow was off 10% the S&P and nasdaq were not near as bad off. In fact the tech heavy nasdaq is up a bit for 2009. The dow recovered about 5% last week of the prior months loss.  Steve had the best week of all us. After jumping in monday and getting hammered for about 38% in DRYS they gave it back to him on tuesday plus a profit. He then rode the BAC train as it pulled out from a 25 year low to book a 65% gainer on the week. Nice! This is not just a traders market u can buy and hold from hear on. The bank bailout the stimulus the new face of America with Obama all make investing posable. The weight to the down side is minimal maybe 10% and thats a retest thats not going to happen as it looks now.  With the upside 20% this year and almost a double in 5 years. Daily this can change but the base thats being built over the last 3 months is strenth. 600,000 jobs lost friday and we rallied to 8300 dow about 210 points. The markets want to pop and if it goes as planed this week could see another 5% gain on the dow. Steves BAC went from 3.70 - 6.25 in a few days. My point is when the market index's move a little inside there is always some big movers one way or the other. Lets get this senate vote done. G/L all