Market close Feb. 17, 2009

Wanted to update everyone, as I bought more shares of TNA at the close for $21.08/share. Market got nasty in last 15 -20 minutes closing at the lows of the day. Dow as off 298 to 7,552 and the S&P 500 closed at 789. This after President Obama signed the $787 Billion Stimulus package into law in Denver, Colorado.

The President, during his remarks before the signing, said that this was the beginning of the end of the loss of jobs. Buyers walked away from the stock market today but there was not panic selling. Volume was slightly higher today than there was on Friday.

The Dow did reach it's previous 52 week close which occurred in November. Major news still expected later this week and by all appearances it appears we may go lower. But I still feel confident we will not go below the 7,300 level as a close on the Dow. Can't promise obviously but it is a new day with the Obama Administration in control. No matter how bad the market appears right now, I am still thrilled we are not being led by former President Bush and the greedy Wall Street insiders and crooks of that Administration.