Recession? What Recession?

All this talk about recession has been quited with the tremendous day for the markets today. The DOW bounced off support and broke areas that were questionable just two days prior, but is this a dead cat bounce or a real change in trend. Unemployment reports last month were at 5%, the highest in a long time. Consumer spending is slowing and retailers experienced one of the worst holiday shopping season in five years. Things that make you go HMMM? The FED chairman turned the market around by saying that the FED is willing to cut rates aggressively if needed. Is it a case that this band-aid cannot heal this wound, or is it helping. I guess we will just have to wait to see what will happen in the next few weeks.

Other news, CFC ran up over 20% today on possible Bank of America buy-out news. As we know Bank of America has already sinked a few billion in here, so I guess they may be loading up the truck. Will this buy-out be official or will it flop?? Who knows, but there are many call options out there if you want to speculate.

Get ready for earnings season. We will be sending earnings alerts as they come. Have a good weekend.

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