Update #3/ Week of October 5, 2009

Good Afternoon Everyone and Happy Wednesday! Today is quite a volatile day on Wall Street with another void in economic news releases. The upwardly mobile bulls have taken advantage of light news and light volume so far this week to eek out some gains and make up the losses from last week. It appears that they are going to have a tough time continuing their rally today. Meanwhile, credit markets are improving and we’ve made up some of the losses in pricing that we experienced earlier this week, too. So what could be better? Stock market gets some gains, and we get better pricing – fine.

The weak dollar has rebounded a bit this morning, putting pressure on stocks. Gold prices are poised to set a new record price again today. Oil inventories are down a bit, but gas inventories are up more than expected. As we mentioned yesterday, earnings season officially kicks off tonight, so the next few weeks are going to be wild. Companies are going to be putting the shine on as they deliver their earnings. Most companies are expected to have positive earnings reports, but those in the know realize that this is mostly due to cut backs and lay offs, not necessarily increased revenue.

Credit markets have already experienced the gains we had forecasted, and don’t expect rates to get significantly better from here. This is a great time to lock, and we are getting really busy again…thank Goodness! J

I will be in office all day today. Call me here or better yet email me if I can help you out in any way. Have a terrific Humpday!