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Two Ways: Bernanke's "Mission Accomplished?"


Strengthen your portfolio in good times and bad.

Top story yesterday, Ben Bernanke said the worst recession since the 1930's has "very likely" come to an end. But according to Bloomberg the Fed Chairman, while speaking at the Brookings Institution in Washington, also warned that growth will likely be weak for some time as the nation deals with a high unemployment rate.

The comments echo similar statements made by San Francisco Fed President Janet Yellen earlier this week who said that the summer likely marked the end of the recession that started in December 2007. She expects the economy to expand in the second half of 2009.

See Toddo's thoughts in Randoms: Question Conventional Wisdom!

From the Bull Pen: Whether or not the US recession is over, it doesn't really matter. What matters is that the US is still the last of the major economies in the financial funk. Bulls will look to "Stuff" stocks and those particularly with international exposure. The daily chart of Caterpillar (CAT) shows the stock breaking out to an 11 month high making it a very bullish picture. But remember to always have an exit plan such as a 2% sell stop.

From the Bear Cave: For dollar bears, consider the Ultra Euro ETF (ULE) which seeks daily investment results that correspond to twice (200%) the US dollar price of the Euro. Those playing it can set a near term sell stop below $31.

Quick Check Around the World

Asian trading closed with the Nikkei 0.52%, India 1.35%, Hang Seng 2.57%, Shanghai -1.12%, and Taiwan 1.28%.

Across the pond, we see the FTSE 1.42%, CAC 1.25%, DAX 0.83%

As of 7:45 a.m. EST, S&P Futures are trading +4.50 to 1050.50 and Nasdaq futures are +4.500 to 1699.50.

A Look at Commodities

Over in commodities, crude oil is -0.17 to 70.77 while gold is +12.7 to 1019.00 this morning. Silver is +0.34 to 17.34 and copper +1.750 to 284.60.

The dollar index is -0.2450 to 76.5400.

On the Radar


08:30 Core CPI (0.1% cons)
08:30 CPI (0.4% cons)
09:00 Net Long-term TIC Flows
09:15 Capacity Utilization (69.1% cons.)
09:15 Industrial Production (0.7% cons)
10:30 Crude Inventories

Click here for the full trading radar.

Good luck today!
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No positions in stocks mentioned.

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