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Two Ways: Obama Says Hope May Be Bad Idea


Strengthen your portfolio in good times and bad.

President Barack Obama said the US economy is showing signs of improvement, but warned that "by no means are we out of the woods just yet."

Obama gave a 45-minute speech at Georgetown University in which he reviewed the steps his administration has taken to reverse the economic downturn, now in its sixteenth month.

"History has shown repeatedly that when nations do not take early and aggressive action to get credit flowing again, they have crises that last years and years instead of months and months," Obama said rebuffing those who criticized his administration for excessive spending.

He said signs of recovery were beginning to slowly emerge, thanks to a $787 billion stimulus package and government intervention in credit, housing, and auto markets. But despite these "glimmers of hope," Obama still predicted more months of job losses - and more people losing their homes.

See related column by Professor Kevin Depew, Five Things: Put the Textbook Down and Step Away from the Economy.

From the Bull Pen: Johnson & Johnson (JNJ) likely helped the consumer-staples sector today. Bulls can still play this stock with a sell stop near $50-51.

From the Bear Cave: If you're bearish, consider a downside play in GameStop (GME). A tight buy stop can be set above its recent high (near $32.50).

Hope you had a great day, Minyans. See you in the morning.

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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