February 05, 2009
Marketplace:
•DOW 7956.66 -121.70 yesterday–Still believe 8,000+ is sustainable.
•TSX 8693.09 + 64.46 yesterday–Holding nicely and rising today.
•Gold still attractive as a safe haven and inflation hedge. Prices go higher on renewed buying.
•Silver prices also higher, tracking Gold on renewed buying.
•Platinum and Palladium prices remain strong.
United States of America:
•Yesterday the U.S. Senate approved a tax incentive for car purchases made this year. Today, an American home buyer $15,000 tax credit has been added to the economic stimulus package. The Feds are hoping these initiatives will stimulate consumer spending and get the economy rolling.
•Tomorrow Feb. 06, 2009 is Go Red for Women Day in America. Many aren’t aware of this movement to help raise awareness of Heart Disease. Amazingly, this disease accounts for 32 per cent of all deaths among American women. Financial & emotional costs of heart disease can’t be measured.
Canada:
•For what it’s worth, Bay Street economists predict economic growth in Canada to be 2.6 – 3.8 per cent in 2010. Historically, these boys are seldom correct with their economic forecasts. If these analysts really knew what was going on, wouldn’t they have told us sometime during 2007, we were heading for a severe economic crisis in 2008?
•From news that I read, Banks that received Federal stimulus package money are now paying out substantial amounts of cash to executives and maintaining dividend payments to stockholders. I thought the bailout money from the Government was to enable banks to start loaning money again, to assist small business, homeowners and create employment.
•Best Performance Mutual Funds:
1 Month: Precious Metals Equity Funds.
3 Month: Precious Metals Equity Funds.
Still waiting for China and Energy Funds to rebound.
…..Doug T
