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Upward March

February 11, 2011 – 6:43 pm

This morning President (dictator) Mubarak finally gave up power in Egypt which moved our market from being down a little to being up. Still this does not mean much when looked at through the lens of a world economy.

Just as important as Egypt is the U.S. consumer sentiment report that came out after the opening. It was higher showing that the economy is gaining strength because consumers are feeling a little better. Still this indicator is and has been difficult because sometimes the consumer feels good or bad but it is not reflected in actual pending and it’s the spending that matters to the stock market.

The market continues on an upward march and there is no reason that it should fall other than that it has gone in one direction far longer than is normal. The values are still good because earnings are very strong so overall stock prices are not out of line. Still, at some point a correction will happen. When it does it will be a correction
to buy not sell.

Good Trading
Steve Peasley

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