Thursday, March 12, 2009

Markets Take Off!

TOM IN HIS COCKPIT during trading hours. Don't tread on him when he's captaining the ship.
Tom, right, and Jack, left, after hours and four straight up days. It simply doesn't get any better than these two money men (one could have played professional baseball, the other pro tennis). The big boys from all over come to them. Everything that's great about our country, free markets and conservative principles---that made America strong and prosperous--- are embodied in these two. Straight as arrows, imbued with integrity, calculated risk takers, yet knowing when NOT to pull the trigger, great fun and the best of family men, husbands and fathers. I'm blessed to know them. They've taken the time to teach me about the markets. Don't get me wrong, they have their imperfections and make mistakes. Still they can laugh at themselves, even when things are dark. They're consummate professionals and Godly men who don't take themselves or the world too seriously---especially after trading hours. And one other thing: these guys love to make money. But if each of them made a mil tomorrow, neither would change one thing about the way he lives his life, except maybe to give more money of it away to church or charities.

DJIA +0.75% 7223.98 +53.92
NASDAQ +0.38% 1431.50 +5.40
NYSE +0.77% 4721.00 +36.01
S&P 500 +0.77% 756.55 +5.81

3/13/2009 (Market Close) Updating... Indexes refresh every two minutes

FRIDAY: Former Oama Supporter Warren Buffet Concerned By What He Sees. While Larry Kudlow notes the hugely important upturn in retail sales. Finally, Mr. Obama confidence numbers are falling, falling, falling fast.

UP, UP AND AWAY! Yes! Sure there'll be some down days and plenty of volatility, but at the least we have a nice bear market rally as markets rise and volume goes green. Be there! And use fairly tight stops and raise as necessary.

The best news is the financials are rallying. And there's no possibility of a real rally unless the financials go along. This is good news. It appears word may be getting out about loosening rules for mark-to-market and maybe even uptick. Wrote about that here Monday.


marketdoc said...

Truly a great week for capitalism and the free markets! This follows a week when everyone (except for a few) seemed to be calling for the bottom to fall out. All of this before most of the stimulus spending package takes hold.. the same package Washington told us we can't do without.

Webutante said...

yes, the markets are more resilient than the Obama guys can understand. Still we should expect volatility and maybe even another shoe to drop for a little while....but we're getting there.