July 18, 2012 Comments

Today was a strong day for U.S. markets with the DOW up 0.8%. This was driven by some good earnings reports and by comments from Ben Bernanke that the U.S. is not likely going into another recession. And, notably due to stronger housing stats in the U.S.

On this occasion our Stock picks failed to get the good news memo. I personally got somewhat clobbered by Bank of America being down almost 5%. But certainly I know that is a volatile and more speculative holding holding. (But that does not mean it may not be a great investment, time will tell)

Somewhat surprisingly Toll Brothers fell today despite the higher housing starts.

Earnings season is now in full swing in the U.S. and will get going next week in Canada. Hopefully some good news here can carry the market along although there is always the specter of bad news that can come from Europe at any moment. (including the LIBOR mess)