February 21, 2009
The Dow Industrial Average took it on the chin all week, as shocked investors watched the downward marktet spiral continue. The U.S. Federal economic recovery package hasn’t slowed the depressed financial markets from free falling as yet, and investors are becoming impatient. They obviously haven’t seen any indication of a recovery or an end to the current bear market. Instead it appears the current recession may be longer and more severe than anticipated.
One U.S. Senator, announced on Fri. that two large American banks may have to be taken over by the Feds to remain solvent in spite of the $90 billion aid they received recently. Disgruntled investors reaction to this news was anything but enthusiastic and they began a day long sell off of their holdings.
Precious metals continued to rally this week and appear to one of the few safe haven investments one can count on at this time. Things will change of course, financial – real estate and other sectors of the marketplace will return to normal, and this recession will just be a bad memory, the big question of course is when?
| Weekly Market Wrap Up |
| MARKETS | This Week | 1 Week Ago | 1 Month Ago |
| Dow Jones | 7365 | 8240 | |
| TSX | 7949 | 8679 | 8628 |
| Nasdaq | 1441.23 | 1534.36 | |
| Venture | 882.90 | 925.64 | |
| S&P | 770.05 | 826.84 |
| METALS | This Week | 1 Week Ago | 1 Month Ago |
| Gold | $1002.50 | $941.50 | $854.60 |
| Silver | $14.49 | $13.62 | $11.16 |
| Platinum | $1,095.70 | $1,061.00 | $949.20 |
| Palladium | $216.00 | $213.25 | $184.55 |
| Oil & Gas | This Week | 1 Week Ago | 1 Month Ago |
| Oil | $38.94 | $37.51 | $34.65 |
| Nat Gas | $4.04 | $4.46 | $4.70 |
Best Performance Mutual Funds:
1 month: Precious Metals Equity Funds.
3 month: Precious Metals Equity Funds.
Worst Performance Mutual Funds:
1 month: Financial Services Equity Funds.
Real Estate Equity Funds.
3 month: Financial Services Equity Funds.
My Personal Portfolio Holdings.
50 percent investment – Creststreet Alternative Energy Fund.
50 percent investment – Money Market Funds & Cash.
Will possibly move some money market funds into equity this week.
.Changes will be posted.
…..Doug T
