We are thankful that market losses were only moderate on Tuesday, with the DJIA down just 37 points. Nevertheless we are at 12-year lows in the major averages.
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Psalm 105:1-6 — Oh, give thanks to the LORD! Call upon His name; make known His deeds among the peoples! Sing to Him, sing psalms to Him; talk of all His wondrous works! Glory in His holy name; let the hearts of those rejoice who seek the LORD! Seek the LORD and His str …
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The economic outlook continues to be bleak, with the DJIA giving up another 119 points on Friday to finish at 7062.93, down 4.1% for the week and reaching 11-year lows. So much for investors who bought and held index funds.
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Psalm 104:10-13 — He sends the springs into the valleys; they flow among the hills. They give drink to every beast of the field; the wild donkeys quench their thirst. By them the birds of the heavens have their home; they sing among the branches.
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Stocks rebounded strongly on Tuesday in reaction to Fed Chairman Bernanke's assurances that the recession could finish by the end of 2009. The DJIA climbed 236 points and finished at 7350. Gold stocks fell and short positions began to unwind.
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Psalm 103:11-14 — For as the heavens are high above the earth, so great is His mercy toward those who fear Him; as far as the east is from the west, so far has He removed our transgressions from us. As a father pities his children, so the LORD pities those who fear him.
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US equities suffered another devastating week this past shortened trading week as the major averages lost more than 6%. The DJIA fell 100 points on Friday alone to settle at 7365 after falling as low as 7249, a five-year low.
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Psalm 102:11-17 — My days are like a shadow that lengthens, and I wither away like grass. But You, O LORD, shall endure forever, and the remembrance of Your name to all generations.
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US equity markets continue to be challenged. Tuesday was another major down day, with the DJIA losing 297 points. We are now retesting the lows of November 20.
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Psalm 101:6,7 — My eyes shall be on the faithful of the land, that they may dwell with me; he who walks in a blameless way, he shall serve me. He who works deceit shall not dwell within my house; He who tells lies shall not be established in my presence.
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Tuesday saw US equities take a nearly 5% dramatic downturn. The DJIA alone gave up 382 points. Most of the losses came as the new Treasury Department secretary spoke of his plan to stimulate the troubled economy.
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Psalm 100:1-5 — Make a joyful shout to the LORD, all you lands! Serve the LORD with gladness. Come before His presence with singing. Know that the LORD, He is God; it is He who has made us, and not we ourselves; we are His people and the sheep of His pasture.
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This past week US equities saw some relief. The DJIA gained 217 points on Friday and nearly 300 points for the week. This came in spite of record high unemployment insurance claims and disappointing corporate earnings.
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Psalm 99:1-3 — The LORD reigns; let the peoples tremble! He dwells between the cherubim; let the earth be shaken! The LORD is great in Zion, and He is high above all the peoples. Let them praise Your great and awesome name—it is holy.
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Thursday the DJIA climbed 106 points to take us back over 8000 again. This gain came in spite of word of further job cuts and record claims for unemployment compensation. As I write this, the US Senate is working towards a vote on a proposed massive stimulus package.
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Psalm 97:10-12 — You who love the LORD hate evil! He preserves the souls of His saints; he delivers them out of the hand of the wicked. Light is sown for the righteous, and gladness for the upright in heart.
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Over the past several weeks US equities have continued their downward spiral. Our Viable Acquisitions Index continues in the red danger zone with a reading of only 14 for Monday's open. We have just completed the worst January for stocks in recorded history.
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Psalm 96:11-13 — Let the heavens rejoice, and let the earth be glad; let the sea roar and all its fullness; Let the field be joyful, and all that is in it. Then all the trees of the woods will rejoice before the LORD. For He is coming, for He is coming to judge the earth.
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US equities retreated again on Thursday after solid gains on Wednesday related to news of efforts by the Federal Reserve to strengthen the banking industry. Unfortunately, the DJIA gave back 226 points on Thursday, which more than washed out the 200-point gain the day before.
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Psalm 95:1-7 — Oh come, let us sing to the LORD! Let us shout joyfully to the Rock of our salvation. Let us come before His presence with thanksgiving; let us shout joyfully to Him with psalms. For the LORD is the great God, and the great King above all gods.
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Our Viable Acquisitions Index for Monday's open stands at a dangerously low 18 on a scale of 0 to 500. Equity futures are also negative for tomorrow's open. The CBOE Volatility Index signal for the broader equity market has been negative since January 5th.
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Psalm 94: 12-15, 19 — Blessed is the man whom You instruct, O LORD, and teach out of Your law, that You may give him relief from the days of adversity, until the pit is dug for the wicked.
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The DJIA fell again on Thursday—this time by 105 points. Although our computer algorithm continues to make several recommendations from among the strongest stocks, it is currently our belief that the CBOE Volatility Index has signaled a continuing downturn.
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Psalm 93:1,2 — The LORD reigns, He is clothed with majesty; the LORD is clothed, he has girded Himself with strength. Surely the world is established so that it cannot be moved. Your throne is established from of old; You are from everlasting.
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Tuesday was a puzzling day in the market. At the same time that we witnessed an inspiring inauguration of a new president, our equity markets suffered another major correction—more than that of any inauguration day in the past.
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