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Market Commentary: The Fickle Market

January 16, 2009 – 12:25 pm

This morning there is an upbeat feeling to not only the market but the economy. This, after just two days ago, when the feeling was for things to get worse. This swing demonstrates the delicate situation where investors and consumers are being whipsawed in both directions. 

The economic news, other than inflation, is not good but it is less bad. That does not sound like a reason for the stock market to rally but for as long as there have been investors and traders trying to beat each other in performance they have been anticipating the future. This morning that anticipation is all about the recession being at its worst, thus things are going to get better. Just two days ago that was not what they were thinking.  

The turn around in yesterday’s market in the middle of the day tells us that there is a lot of uncertainty. The market will stay that way (uncertain), but it appears the worst just might be over.  

Then again, let’s wait another day. 

Good Trading
Steve Peasley 

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