April 6, 2009
Good morning. The market, despite a bad start on Monday, had another strong week as the S&P finished at $84.26, up $2.65 or 3%. Friday’s close represents an amazing 26% rally from the lows set on March 6, and for the buy and hold types it gets you back to roughly where you were on Feb. 10. We are still down about 7% on the year, but it sure feels like up compared to the first week of March. Is this a real rally?