STIMULUS AND BANK RESCUE HOPES BOOST WALL STREET – RSI GOES FOR REAL ESTATE, FOREIGN & TELECOM
Posted on February 06, 2009 at 19:11 PM EST
Today in the market, Friday, February 06, 2009 : Stocks rallied for a second day on Friday on hopes Washington's stimulus package and a bank rescue plan will bolster the ailing economy, even as data showed the biggest one-month job losses in 34 years. A nearly 12 percent surge in bank shares led Wall Street higher. Investors anticipate the plan scheduled to be announced on Monday by Treasury Secretary Timothy Geithner will shore up banks' balance sheets and spur lending. For the week, the S&P 500 was up 5.2 percent, the Dow rose 3.5 percent and the Nasdaq saw its best week since early December, up 7.8 percent. (headline & commentary courtesy of Yahoo Finance) ETF/CEF Low Volatility: TIP - iShares Lehman TIPS Bond Fund ETF/CEF High Volatility : DLN - Wisdom Tree Large Cap Dividend EWH - HongKong iShares EWJ - Japan iShares EWP - Spain iShares ICF - Realty Major iShares IXP - iShares S&P Global Telecommunications Sector Index Fund IYR - Real Estate iShares IYZ - Telecom iShares RWR - streetTRACKS Dow Jones Wilshire REIT Fund VNQ - Vanguard REIT VIPERs ETF/CEF Discussion: Nice weekly gains and RSI obliged by more picks in the telecom, foreign and real estate sectors. This is an impressive list in areas not normally mentioned in the popular media. So, consider yourself unique … you heard it first here . I have my eye on a few of these picks and may add them to my new buy list. Have a great weekend.