Here I Stand

Here I Stand

Friday, December 17, 2010

Dow at a 2 year high

The Dow hit a two year high on Teusday - thats not saying much as we're still around two thousand points from the highs in late 2007, but it is something. the high didn't last long, when on Wednesday investors took their profits and ran, causing a slight slip, but things came back today. At just a point below 11500, may be looking better for the overall economy, but I would not get my hopes up just yet.

Things have been better this year than they were in 2008 and 2009, of course, and even significantly so, but that does not mean that the nation is on track for its full recovery. The GM IPO that I was following so closely for a while has come and gone, with brilliant results. I really wish I had been able to get in on that at the ground level, but it just wasn't in the cards. The company made exponentially more from the offering than they originally expected, and this will result in much needed jobs for the hard hit detroit area.

This one high point though, doesn't really hold it's luster when compared to the whole. Stocks may be up overall, but a lot of the change is seasonal, and increases, as a general rule, because of retail results over the Christmas shopping season. I am not blind, or unappreciative, to the trickle down effect of the increased spending over this season, and have directly benifited as a result of it, but I am concerned that this preceived prosperity may be premature, or unsubstantial - temporary even. The spendding this season may be overshadowing some technology and green energy companys that are not receiving the atttention or support that they deserve or need, and that may be detrimental to the development of the national job scene, and economy overall. Overall, the funds that I follow are at a wash since the Dow was at 11000. while some of the retail heavy funds have looked goods (and yes, will likely be paying dividends) others that I beleive are the real future for development in this country, have been waivering. 

Happy Holidays America. Keep spending, enjoy your families and friends. Have fun over the holidays, but don't sugar coat the situation, and don't view the world with idealism. Peace on earth and goodwill toward man is what this is all about, but when thats over and done with, we will need to get back to work, because there is still a lot to be done.