Market Comments April 14, 2009   TSP Fund share prices as of: 04/13/09 Fund - G Fund F Fund C Fund S Fund I Fund 12.8335 12.6338 10.0125 12.0423 13.1369 $  Change - 0.0036 0.0512 0.0260 0.0133 0.1512 % Chg day - +0.03% +0.41% +0.26% +0.11% +1.16% % Chg wk - +0.12% +0.54% +5.36% +7.98% +5.94% % Chg mon - +0.09% +0.30% +7.75% +10.17% +8.74% % Chg 2009 - +0.73% +0.42% -4.04% -1.35% -7.84%   L2040 L2030 L2020 L2010 L Income 12.0831 12.2925 12.6007 13.7607 12.7849 $  Change - 0.0529 0.0475 0.0424 0.0242 0.0176 % Chg day - +0.44% +0.39% +0.34% +0.18% +0.14% % Chg wk - +5.03% +4.42% +3.67% +1.74% +1.32% % Chg mon - +6.97% +6.10% +5.06% +2.36% +1.74% % Chg 2009 - -3.25% -2.62% -2.01% -0.52% +0.00%

Today's Comments (Short Term Outlook)                               Printer  friendly

Something is fishy Stocks were mixed yesterday as the Dow was down 25-points, the S&P and Nasdaq were up slightly, and the I-fund managed a 1% gain as the dollar lost ground. The S&P 500 opened in negative territory but climbed throughout the day before closing just above the break-even level.  The old resistance acted as support during the morning pullback.                   Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk The market rallied on Thursday because of some positive earnings comments from Wells Fargo.  Late yesterday there was some news that they may need to come up with $50 billion to pay back what they owe the government.     Also after the close, Goldman Sachs posted a huge earnings report well above analysts estimates.  They made over $9 billion during the first quarter, including $1.7 billion in profits.  All while they were taking $10 billion in TARP money.  Now they want to offer more stock to raise money to pay some of it back.                      Charts provided courtesy of www.decisionpoint.com, analysis by TSP Talk There have been something like 25 banks go under in 2009 alone, yet the stock price of Goldman Sachs has nearly tripled since November, while being given $10 billion in TARP money from ex-executive Henry Paulson, and then they made $9 billion in the first quarter.  Does this make sense to anyone?  I'm more of a technical analyst, but something seems wrong with this fundamental picture to me. The Smart Money / Dumb Money Confidence indicator from SentimenTrader.com saw a move down in the Smart Money to 46.  This level has proven trouble for the market during this bear market.                     Chart provided courtesy of www.sentimentrader.com, analysis by TSP Talk Granted this bear market rally seems to have a little more substance behind it with some indications of improvements in the economy, but the smart money is less enthusiastic than the dumb money at this juncture.  Something to consider.    That's all I have for today.  Thanks for reading!  See you back here tomorrow. Administrative Note:  Access to Scribbler's TSP & Economic Report premium service will be available free of charge during the month of April.  Please click here for more information.