The Kirk Report |
Posted: 06 Feb 2009 03:56 PM CST After the worst January ever for the market, hope returned this week that Obama & Congress will soon fly to the rescue. This week the S&P 500 gained +5.17%, Dow +3.50%, Nasdaq +7.81%, and the Russell 2000 +6.12. To win big this week you needed to be long the market and especially technology (like semiconductors), basic materials (like steel), home construction, and metals & mining. It would also be helpful to be long both China & Brazil. Monday certainly points to an interesting day as bailouts and stimulus are revealed. Clearly, the market seems to think that good things are ahead while the skeptics will be looking for another sell the news reaction to unfold yet again while you already know my view. Have a great weekend! |
Posted: 06 Feb 2009 01:40 PM CST Before we close out another week, I'd like to take some time to answer a few questions on the following topics:
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Posted: 06 Feb 2009 07:53 AM CST Good morning. U.S. January payrolls fell a more than expected 598,000 and the jobless rate increased to 7.6%. Job losses were widespread across nearly all major industry sectors. However, premarket futures are climbing into positive territory in response and indicate a positive open. Beyond the fixation on today's employment data, corporate headlines are relatively light this morning with continued focus on next week's bank bailout plans. It also appears Congress will try again today to pass their $937 billion dollar stimulus plan. Have a great Friday! |
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