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Troubled Week

March 18, 2011 – 5:49 pm

With a little good news coming out of Japan about the still very uncertain developments concerning the nuclear power plant and the U.N. passing the no fly zone over Libya with the result that Moummar Gaddafi called for a cease fire, the stock market started off this morning on a strong note. Of course neither situation is even close to being resolved but at least it is moving in the right direction.

The week produced some good and not so good economic news. Some of the bad news regarding housing was to be expected. However, yesterday unemployment claims fell and the Leading Economic Indicator report showed a gain of .8%. Signs that our economy is still gaining strength continues to come in but that strength is slow in coming.

Next month earnings season starts again and the market will be watching the March jobs report that will be released in a couple of weeks. Of course for the time being all eyes are on Japan and the Middle East.
There is always something to watch and worry about.

Good Trading

Steve Peasley

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