Commentary for June 28, 2010

Monday, June 28th, 2010

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Stocks continue to trade in a range from around Dow 9,850 to 10,400 as investors weigh bullish numbers from corporations, consumer sentiment and the emerging market economies versus secular regulation as well as a weak housing and labor market.  The result is choppy, somewhat sideways trading that should persist for the remainder of the Summer.  What to do?  Be patient and look for opportunities.  This is what we have been stating for calendar year 2010 and thus far, have been spot on.

Regarding bonds, again look for opportunities.  We believe that interest rate moves up will be gradual.

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