Two Ways: Obama Says Hope May Be Bad Idea
Strengthen your portfolio in good times and bad.
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.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter