March Madness continues for US markets … By Ken Mahoney

March Madness continues for US markets … By Ken Mahoney The markets bounced back on Monday as investors embraced ‘Monday Merger Mania’. AT&T announced a 39 Billion Dollar deal to buy competitor T-Mobile. Investors are also hoping that the crisis in Japan is stabilizing ‘a bit’, while the Libya conflict will be measured in ‘days’. Between situations in Japan and Libya, stocks faced some serious headwinds last week. The Dow declined 1.5%, the S&P 500 fell 1.9% and the Nasdaq dropped 2.7%. The Libyan cease-fire announcement temporarily calmed concerns about developments in the Middle East on Thursday and Friday, but ongoing uncertainty eventually caused the rally to slow and it wasn’t enough to recover from Wednesday’s thrashing. Recent events, including the nuclear disaster in Japan, international forces bombing in Libya, and the possibility of more currency market intervention will likely keep investors reacting to headlines in the weeks ahead. We are currently facing an extremely media-driven market that responds quickly to what is visible in the news. At times like this, it is more important than ever to avoid trading based on emotion rather than facts or fundamentals. Even when things are uncertain, there are often many promising opportunities to be found. Consider one example: Some people see huge opportunities in Japan. Since experts are optimistic that the earthquake's impact will have a relatively mild long-term effect on Japan’s economy, a cross-section of investors are watching the Japanese market with the intent to invest – viewing the Nikkei’s sharp drop as the best time to get in. In fact, a whopping $956 million flowed into Japanese equities in the week ending March 16 alone, according to data from Thomson Reuters Lipper service. While we are not necessarily advocating this strategy for you, it does highlight the importance of seeking out opportunities even when things look grim. Despite the complicated and unpredictable elements at play, these events remind us of the nature of the markets: ups and downs are to be expected. Although we've quoted him before, now is a good time to recall the words of billionaire investor Warren Buffet who said, “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”. And always remember, we’re monitoring the situation closely. ECONOMIC CALENDAR: Monday – Existing Home Sales Tuesday – Redbook Wednesday – New Home Sales, EIA Petroleum Status Report Thursday – Durable Goods Orders, Jobless Claims Friday – GDP, Consumer Sentiment HEADLINES: America’s top military commander says a United Nations-authorized no-fly zone over Libya has effectively been achieved. The Chairman of the U.S. Joint Chiefs of Staff, Admiral Mike Mullen, is calling the initial phase of a multi-national effort to take control of Libyan airspace a success. Mullen says Libyan command-and-control centers and air defense installations have been struck, and that leader Moammar Gadhafi’s forces effectively are grounded. The U.S. cost of living hit a record high (127.4) in February, according to the Chained Consumer Price Index. The previous high of 126.9 was reached in July 2008, before economic markers like unemployment and stock prices were affected. Simultaneously, states will be cutting back services this year at the same time they increase taxes in order to close enormous budget deficits. Japanese government officials say food and milk contaminated with radiation is being detected in a wider than expected area. Some shipments are now being stopped, although authorities stress that ingesting the items will not immediately harm people. Nissan Motor Co. said Sunday that it will start parts production and vehicle assembly operations this week in Japan, becoming the first car maker to restart its entire auto production process after a devastating quake brought the country's auto industry to a standstill. Share the Wealth of Knowledge! Please share this market update with family, friends, or colleagues. If you would like us to add them to our list, simply click on the "Forward email" link below. We love being introduced! Insert your broker/dealer disclosures here. i.e. Securities offered through “Your B/D Name Here,” Member FINRA/SIPC. Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. 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March came in like a lamb, and is leaving like a Bull by Ken Mahoney

March came in like a lamb, and is leaving like a Bull by Ken Mahoney

The bulls charged again last week, marking the 4th week of gains in a row for U.S. stock markets, and the longest streak of weekly wins since August. The winning run came even as daily gains largely dissolved on Thursday and Friday amidst continued jitters about a bailout plan for Greece and rising U.S Treasury yields which have highlighted concerns that the federal government is digging itself into a deep deficit hole.

In early trading on Thursday, the Dow flirted with 11,000 when it hit 10,995 – a new high for the bull market that began in March 2009 – but quickly retreated in a dramatic reversal when the day only closed with a 5 point gain. According to the standard definition, this is known as a “key reversal day” which generally has bearish implications for the stock market. At the same time though, signs of an impending bear market are negligible. Said Richard Bernstein, head of Richard Bernstein Capital Management, "To have a bear market, there are certain things you'd see: profitability start to slow, fiscal restraint. That's not really happening.

Profitability is ramping up and monetary policy is accommodative." Investors in general also feel optimistic about the future of the U.S. markets. Ned Davis Research reported on Wednesday that their so-called "Crowd Sentiment Poll," which is a composite of a number of separate sentiment indicators, has just risen into the "Extreme Optimism" zone. It’s good to see that some of the market’s skeptics are finally putting a portion of their sidelined cash reserves back to work.

In spite of mixed news, the markets have experienced wonderful momentum lately. With only 3 trading days remaining, it looks as if the first quarter of 2010 will be fondly remembered by the history books.

Key things we’ll be watching this week:

Tuesday – S&P/Case-Shiller Home Price Index, Consumer Confidence Wednesday – Factory Orders Thursday – Initial Jobless Claims, ISM Manufacturing Index, Construction Spending Friday – Stock Market Closed for Good Friday

HIGHLIGHTS: With projections of millions of foreclosures over the next five years, the Obama administration announced Friday it would make major adjustments to its $75 billion mortgage-modification program, aimed at assisting a greater number of unemployed and other troubled homeowners in modifying or refinancing their mortgages.

Regarding health reform: If your earned or investment income exceeds $200,000: In about two years, the Medicare payroll tax will rise nearly 1 percentage point to 2.35% on wages of individuals with earnings greater than $200,000 and married couples earning more than $250,000. A new 3.8% Medicare tax will be levied on investment income including interest, dividends and capital gains that exceed those thresholds.

Regarding health reform: If you itemize deductions for income tax: Starting in 2013, medical expenses have to reach 10% of your adjusted gross income to qualify for a tax deduction, as opposed to today's 7.5% standard. But seniors age 65 and older would be able to claim an itemized deduction at 7.5% of income through 2016. Congress passed a bill Thursday to make Washington the one-stop shop for cheap student loans and to boost need-based scholarships. Starting July 1, nearly all federally backed student loans, like Stafford loans, will come directly from the federal government.

Sources: Marketwatch The Wall Street Journal Online http://www.marketwatch.com/story/what-health-reform-means-for-you-2010-03-22 http://www.marketwatch.com/story/white-house-to-expand-mortgage-relief-program-2010-03-26 http://money.cnn.com/2010/03/25/news/economy/student_loans_senate/index.htm The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq. The DJIA was invented by Charles Dow back in 1896. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indexes from Europe, Australia and Southeast Asia. The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market. Google Finance is the source for any reference to the performance of an index between two specific periods. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. You cannot invest directly in an index. Consult your financial professional before making any investment decision.

March came in like a lamb, and is leaving like a Bull by Ken Mahoney

March came in like a lamb, and is leaving like a Bull by Ken Mahoney The bulls charged again last week, marking the 4th week of gains in a row for U.S. stock markets, and the longest streak of weekly wins since August. The winning run came even as daily gains largely dissolved on Thursday and Friday amidst continued jitters about a bailout plan for Greece and rising U.S Treasury yields which have highlighted concerns that the federal government is digging itself into a deep deficit hole. In early trading on Thursday, the Dow flirted with 11,000 when it hit 10,995 – a new high for the bull market that began in March 2009 – but quickly retreated in a dramatic reversal when the day only closed with a 5 point gain. According to the standard definition, this is known as a “key reversal day” which generally has bearish implications for the stock market. At the same time though, signs of an impending bear market are negligible. Said Richard Bernstein, head of Richard Bernstein Capital Management, "To have a bear market, there are certain things you'd see: profitability start to slow, fiscal restraint. That's not really happening. Profitability is ramping up and monetary policy is accommodative." Investors in general also feel optimistic about the future of the U.S. markets. Ned Davis Research reported on Wednesday that their so-called "Crowd Sentiment Poll," which is a composite of a number of separate sentiment indicators, has just risen into the "Extreme Optimism" zone. It’s good to see that some of the market’s skeptics are finally putting a portion of their sidelined cash reserves back to work. In spite of mixed news, the markets have experienced wonderful momentum lately. With only 3 trading days remaining, it looks as if the first quarter of 2010 will be fondly remembered by the history books. Key things we’ll be watching this week: Tuesday – S&P/Case-Shiller Home Price Index, Consumer Confidence Wednesday – Factory Orders Thursday – Initial Jobless Claims, ISM Manufacturing Index, Construction Spending Friday – Stock Market Closed for Good Friday HIGHLIGHTS: With projections of millions of foreclosures over the next five years, the Obama administration announced Friday it would make major adjustments to its $75 billion mortgage-modification program, aimed at assisting a greater number of unemployed and other troubled homeowners in modifying or refinancing their mortgages. Regarding health reform: If your earned or investment income exceeds $200,000: In about two years, the Medicare payroll tax will rise nearly 1 percentage point to 2.35% on wages of individuals with earnings greater than $200,000 and married couples earning more than $250,000. A new 3.8% Medicare tax will be levied on investment income including interest, dividends and capital gains that exceed those thresholds. Regarding health reform: If you itemize deductions for income tax: Starting in 2013, medical expenses have to reach 10% of your adjusted gross income to qualify for a tax deduction, as opposed to today's 7.5% standard. But seniors age 65 and older would be able to claim an itemized deduction at 7.5% of income through 2016. Congress passed a bill Thursday to make Washington the one-stop shop for cheap student loans and to boost need-based scholarships. Starting July 1, nearly all federally backed student loans, like Stafford loans, will come directly from the federal government. Sources: Marketwatch The Wall Street Journal Online http://www.marketwatch.com/story/what-health-reform-means-for-you-2010-03-22 http://www.marketwatch.com/story/white-house-to-expand-mortgage-relief-program-2010-03-26 http://money.cnn.com/2010/03/25/news/economy/student_loans_senate/index.htm The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq. The DJIA was invented by Charles Dow back in 1896. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indexes from Europe, Australia and Southeast Asia. The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market. Google Finance is the source for any reference to the performance of an index between two specific periods. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. You cannot invest directly in an index. Consult your financial professional before making any investment decision.

MTA CHAIRMAN TO SPEAK (AND LISTEN) IN ROCKLAND TUESDAY

MTA CHAIRMAN TO SPEAK (AND LISTEN) IN ROCKLAND TUESDAY

The Metropolitan Transportation Authority’s new chairman is coming to Rockland next week – to get an earful from the public. Jay Walder will appear Tuesday at a noon-time luncheon at the Rockland Country Club in Sparkill. It’s part of what’s being called a “listening tour” by Walder of the four counties that share a single vote on the MTA Board. What he’s likely to hear MOST are complaints about the recently-imposed Payroll Mobility Tax, a fee that will cost employers in the MTA region millions of dollars a year. The public is invited to Tuesday’s luncheon by reservation only, through the Rockland Business Association, the event co-sponsor.

UNEMPLOYMENT DOWN SLIGHTLY IN REGION

UNEMPLOYMENT DOWN SLIGHTLY IN REGION

New figures show October’s unemployment rate in the lower Hudson region including Rockland came in at seven-point-one percent. That’s well below the 10.2% national rate – and slightly below the region’s September rate – but it’s still well above last October’s 5% unemployment rate regionally.

HEARING ON PROPOSED HOSPICE SLATED FOR NEXT TUESDAY IN NEW CITY

HEARING ON PROPOSED HOSPICE SLATED FOR NEXT TUESDAY IN NEW CITY

Rockland County’s first hospice home may be coming soon. A public hearing is scheduled next Tuesday on United Hospice of Rockland’s request for a special permit to operate a home in New City. The hearing, at Clarkstown Town Hall, is the latest chapter in a five-year quest by United Hospice to bring Rockland a facility to care for terminally-ill patients in their final days. As it stands, the area’s closest hospice facilities are in Orange County and the Bronx

HIGH FORECLOSURE RATE SLAMS LOWER HUDSON REGION

HIGH FORECLOSURE RATE SLAMS LOWER HUDSON REGION

The region continues to be hit hard by economic woes, including unemployment and the resultant loss of homes. Monthly figures cited by The Journal News show a more-than two-fold year-to-year increase in initial foreclosure filings across the lower Hudson Valley. That includes an increase in Rockland from 94 filings in October, 2008, to 177 filings last month. The October increase in Westchester was even steeper, from 96 foreclosure filings in 2008 to 320 filings in 2009.