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Archive for May, 2009

May 28th, 2009

Obama Says Economy Getting Better

(Lee Siler) - Stocks took a significant hit yesterday, as news of the likely GM bankruptcy made its way through the investing public. The market started out with a slight rally before getting pelted late in the day. Although the Nasdaq went down less than its S&P 500 and Dow Jones counterparts, the Naz volume swelled to mark another distribution day, the fifth in recent weeks.

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May 27th, 2009

Should You Pay Off Your Mortgage or Invest?

(William Garrett) - Owning a home outright is a dream that many Americans share. Having a mortgage can be a huge burden, and paying it off may be the first item on your financial to-do list. But competing with the desire to own your home free and clear is your need to invest for retirement, your child’s college [...]

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May 27th, 2009

GM on Verge of BK

(Lee Siler) - Things at General Motors are getting bleaker by the minute, as the company pulled an offering that would convert its debt to equity. The bondholders revolted the offer and gave GM no choice but to cancel the deal. This event will likely be the straw that breaks GM's back and pushes them into bankruptcy. On the news GM is down 12% and probably on its way to zero.

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May 26th, 2009

Eleven Ways to Help Yourself Stay Sane in a Crazy Market

(William Garrett) - Keeping your cool can be hard to do when the market goes on one of its periodic roller-coaster rides. It’s useful to have strategies in place that prepare you both financially and psychologically to handle market volatility. Here are 11ways to help keep yourself from making hasty decisions that could have a long-term impact on [...]

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May 22nd, 2009

Stocks Drop on UK News

(Lee Siler) - First, I wanted to let you know that due to a miserable storm here in Florida, my internet was down for most of yesterday. But, you didn't miss anything. As I've been expecting, the market took another hit on news that S&P threatened to downgrade the United Kingdom's sovereign debt. This news rattled stocks, but for now the UK still stands at a AAA rating.

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May 20th, 2009

B of A Raises Capital Sells Shares

(Lee Siler) - Stocks are pointing to a higher opening, as investors are in relief that Bank of America was able to raise some capital with relative ease. Even though B of A is selling 1.25 billion shares to the market, diluting the stock by about 19%, the stock is trading higher in the pre-market. I believe this enthusiasm will wane as investors realize that these financial institutions are flooding the market with shares of their stock. It's your basic law of supply and demand. But, for now the market is looking past that. However, eventually you always have to pay the piper.

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May 19th, 2009

Housing Starts Tank

(Lee Siler) - Stocks had a great day, as the major averages rose around 3%. However, volume declined again for the fourth straight day, a sign that the buyers are starting to wane. While the Dow Jones and the S&P 500 continued to rally towards their respective 200-day moving average, the Nasdaq hit its head up against that resistance line unable to penetrate it. The Nasdaq's 200-day moving average has been a problem for the high tech index for several weeks now. Obviously, a break above that line would be considered very bullish. I do think that will happen, but the lack of volume tells me it may take a little while longer.

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May 18th, 2009

Economic Update for the Week of May 18, 2009

(Lee Siler) - The Reuters/University of Michigan consumer sentiment index climbed to 67.9 for May; it hasn’t been this high since before the credit crunch. The index’s consumer expectations gauge was 69.0, up from 63.1 in April.

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May 15th, 2009

Investing for the Times of Your Life

(Anthony Williams) - Wherever you are in your financial life cycle, starting a career, getting married, buying a home, raising a family, funding a child’s education or planning for a comfortable retirement, to be successful, you need to develop and maintain a disciplined approach to saving. Once a regular savings routine has been established, the next step is to decide how to invest the money you are saving. This decision will depend on many factors, including the intended use for the money, the time frame for when you’ll need the money and your comfort level with investment risk.

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May 14th, 2009

S&P Drops For 3rd Straight Day

(Lee Siler) - The S&P 500 dropped for the third day in a row, something it hadn't done since the March 9th low. The financials, which led the market higher over the past two months, continued to weigh on the major averages. As I previously mentioned, I believe the secondary offerings being issued by some of the big banks will take its toll on the averages in the short-term. It's your basic supply versus demand concept. In the upcoming weeks there will be a lot more supply of bank shares that will need to be absorbed before the stocks can move higher once again.

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