Addendum to Previous Blog

Today, two important points to mention:

1.  The office of the comptroller said that the re-default rate is 58% of those borrowers who had their mortgages modified in the first half of 2008.  These will go to foreclosure.

2.  Feds Kohn said that bank lending has dropped back in recent weeks, resulting from tightening terms and standards.

Yes, the market is up again today based on 'surface' news of president-elect Obama's job creation plan and an imminent rescue of the auto companies.

Keep looking at our underpinnings.  That is going to determine the lasting affects on this market.  

I think what Abraham Lincoln said when he took office and the colonies had separated from the group, when he mentioned having "patient confidence" is great advice for us to use to minimize the influence of our emotional selves when investing in this market.  That's the one thing you do have control over, how you respond to the events happening.  Actually, it's a prudent motto when dealing with life.