Monday, July 27, 2009

Bulls

I have been out of town on vacation, visiting some old friends from high school at a reunion in Boston. We stayed in the Boston Financial District while we were there. A couple of observations. The recession does not seem to be hurting Boston. We saw plenty of tourists and the hotels, restaurants, and pubs in the area seemed to be doing some booming business. So while we hear that Ben Bernanke believes we are getting out of the recession and the economy will recovery, albeit at a slower pace, life moves on. The markets have responded well with the recent news of companies earnings for the most part being better than expected. There is a sense that with the markets doing better than some have hoped, that the bears may be heading back to their caves for a while as no one wants to miss out on the recovery. Of course, some pundits are now calling for a double-dip recession, but most expect better days ahead of us in the short term. Stay tuned on Twitter as I post updates during the day. Follow me @scottjwheeler and let's hope we see another good week in the markets!

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