• Markets are up a bit, as is gold; oil is down.
• The proof now rests with the bulls.  Short covering is being credited with yesterday’s rally.  We can expect more of that but unless we get side-lined money into equities this will be remembered as a bounce in a bear market.
• While oil prices seem to be backing off its assault on $50/barrel, the oils stocks are active and up.
• Banks stocks continue their roar and so long as regulatory changes (i.e.mark to market) continue to be discussed banks shares are likely to head higher.
• Treasuries got whacked yesterday as investors pulled money out for stocks.  This might be a good time to look at treasuries, in front of a possible Fed purchase of long dated bonds.  TLT, the bond ETF with an almost 4% yield could be a candidate.

Off to my tutor my third graders.  One of my charges has the wonderful name of Sage Gillen and I predict Sage will be a movie star.  Every Wednesday she tells me all about her family, especially her brother Rory who is in second grade.  When ever Sage and Rory meet in school they hug and kiss as if they haven’t seen other for days.

Make it a great day!