HOUSING DEAL, HOPE FOR INSURERS LIFT STOCKS- RSI HAS A SLUG OF PICKS
Posted on April 08, 2009 at 22:37 PM EDT
Today in the market, Wednesday, April 08, 2009 : Insurance and technology shares led the market higher in a volatile day Wednesday, breaking a two-day slide. But a dim view of the economy from the Federal Reserve and jitters over looming earnings reports kept buyers in check. The Dow Jones industrials rose 47.55, or 0.6 percent, to 7,837.11. Stocks got an early lift from a deal combining two major homebuilders and a report saying the government was poised to extend aid to battered life insurance companies, then wavered throughout the day before ending slightly higher. The Dow had fallen 3 percent over Monday and Tuesday, which analysts saw as a necessary breather following a powerful rally in March that gave the Dow its biggest four-week surge since 1933. (headline & commentary courtesy of AP via Yahoo Finance) ETF/CEF Low Volatility: BIL SPDR Lehman 1-3 T-Bill BIV Vanguard Intermediate-Term Bond BSV Vanguard Short-Term Bond GVI iShares Lehman Intermediate Government/Credit Bond Fund MUB iShares S&P National Municipal Bond Fund TIP iShares Lehman TIPS Bond Fund ETF/CEF Medium Volatility: EVG Eaton Vance Short Duration Diversified Income Fund LQD iShares iBoxx Investment Grade Corporate Bond Fund ETF/CEF High Volatility : BGR BlackRock Energy and Resources Trust EAD Evergreen Income Advantage Fund, Inc. EFR Eaton Vance Senior Floating Rate Trust HRP Hrpt Properties Trust ETF/CEF Discussion: Since I had a late meeting tonight I have to make this short and sweet and no charts tonight. Today’s picks ahe heavy with bond and income funds. Plus we have energy & resource CEF plus a real estate trust (not an ETF/CEF). So it’s your choice. FYI, I have been a long term holder of TIP and it just paid a nice interest payment. The bond funds in my portfolio have been a good, steady anchor that have weathered out this financial storm. Also I booked a nice 15%, short term gain with my position in SRS which was from my “falling knife strategy” that I mentioned recently. That system is still under development. Catch you tomorrow, but it could also be quite late AGAIN.