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Market Commentary: Is there hope?

March 5, 2009 – 11:24 am



Depressing bear marketBad statistics permeate the financial news; there is no let up in the depressing numbers. That in itself is going to lead to a bear market rally. Every one knows it’s bad. We are in a deep recession so any hint of good news is going to spark the market. This morning there is talk of China expanding its stimulus spending and there was another report that layoffs in February were not as high as they were in January. Finally, we are getting some details concerning the foreclosure mitigation package. These bits of information are minor points and not market movers of any consequences but they are signs that the market might have a short term bounce. 

We still have plenty of bad news and we are going to have another bad payroll number reported on Friday for February. That kind of news will continue but the stock market is building much of that news into stock prices. At some point the bad news will cease affecting the market. At that point, whenever it might be, we wil

l begin the healing process for the stock market.  

That day is nearing but not here yet. Still we will get a short term oversold rally. 

Good Trading
Steve Peasley 


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