Stocks rebounded, extending their winning streak to 2 days. Dow was up 108, advancers over decliners better than 3-2 & NAZ was up an impressive 44. Well, well. The tax rebate plan was ironed out & announced. Tax rebates will be $600 for singles & $1200 for marrieds plus extra for children. If all goes well, it is expected to be signed by Feb 15 (that's considered fast) with money reaching taxpayers starting in May. Sounds good if.......
The short term over-bought banks & REITs pulled back while MLPs continued their sharp rebound to 2 days (like the Dow). The VIX pulled back to "only" 27.78 (20+ is very high) and the Treasury bond sold off, increasing the yield to 3.64%. Dow is up a little on the week. If it holds at least tomorrow, this will be an up week.
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