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Two Ways: Yellen About the Recession


Strengthen your portfolio in good times and bad.


Janet Yellen, president of the San Francisco Fed, says the US economy isn't out of the woods yet. In a report by Reuters, Yellen -- a voting member of the Federal Open Market Committee in 2009 -- said the aftermath of the credit-market collapse is making her reevaluate whether the Fed should take preemptive steps against developing asset bubbles.

Yellen noted that unemployment continues to creep higher as the US enters its sixth quarter of recession. Furthermore, "the negative dynamics between the real and financial sides of the economy have created severe downside risks."

For more on the economy, see Professor Kevin Depew's Where Next? or Professor Jack Lavery's Stabilization? What Stabilization?

From the Bull Pen: Bulls can continue to look to agriculture plays for upside exposure. The AG ETF (DBA) may be an option. A sell stop can be set near $23-24.
From the Bear Cave: Bears can consider a play in Huron Consulting Group (HURN); One can fade (read: sell) into the $40 level. A buy stop can be set above $41.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.12%, Nikkei 1.74%, India 0.69%, Shanghai -1.19% and Taiwan -4.03%.

Glancing towards Europe, we see the CAC 1.46%, DAX 1.00%, FTSE 0.99%

As of 8:10 AM EST, S&P Futures are trading +3 to 864.00, and Nasdaq futures are -2 to 1350.00.

A Look at Commodities

Over in commodities, crude oil is trading -0.12 to 49.86 while gold is -10.8 to 869.00 this morning. Silver is -0.365 to 11.890 and copper -1.80 to 215.15.

The dollar index is +0.0610 to 86.1100.

On the Radar


10:00 University of Michigan Sentiment 58.5

Happy Friday, Minyans! Good luck!

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.

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No positions in stocks mentioned.

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