Pre-Market Feb. 18, 2009: Time to get back into the market!

It looks like Housing Starts were down more than expected, down 16.8%. However it did not have the negative effect on the pre-market as was expected. Many on CNBC this morning have said the market is very oversold. So expect a relief rally today. President Obama will announce some plans on stemming the home foreclosure problem and that should have a positive impact on markets.

The Dow is up about 60 points in pre-market and the S&P 500 is up about 8 points.

We aren't out of the woods yet so the market is trying to look up versus looking into the abyss. But many who have some courage are considering buying some real bargains. Apple for example dropped almost $5/share yesterday and to me is a god bargain here. I purchased more shares of the ETF Ultra Pro Shares of the Small Caps x 3, symbol TNA. Price paid was $21.08/share.

It's time we bounced off the bottom of this low range and headed up. Is this wishful thinking? No, this is the time to be buying back into the market. Three weeks from now you will regret not getting back into it. The stimulus package has been approved. Today we get a plan on helping stem foreclosures. And soon we get a plan to rescue the banks by Geithner. We are on the move and if you can't feel it you aren't in touch with what's going on around you.