Memorial Day 2010- Remember Our Fallen Heroes

Residents in Southwest Florida hold a Memorial Day ceremony.


Ever wonder why veterans sell poppies for donations so close to Memorial Day? It is because of a popular poem entitled, "In Flanders Fields" written by a Canadian physician and Lieutenant Colonel John McCrae in May, 1915. McCrae was a surgeon in charge of a field hospital during the second battle of Ypres during World War I. McCrae wrote the poem after his friend, and former student, Lieutenant Alexis Helmer, age 22, was killed in battle. He noticed the poppies flourished over the disturbed earth of the battlefield days later. The term "Flanders fields" is a geographic region which includes parts of Belgium, France, and the Netherlands. McCrae wrote:
"In Flanders fields the poppies grow
Between the crosses, row on row,
That mark our place; and in the sky
The larks, still bravely singing, fly
Scarce heard amid the guns below.

We are the Dead. Short days ago
We lived, felt dawn, saw sunset glow,
Loved, and were loved, and now we lie
In Flanders fields.

Take up our quarrel with the foe:
To you from failing hands we throw
The torch; be yours to hold it high.
If ye break faith with us who die
We shall not sleep, though poppies grow
In Flanders fields."

-Lt.Col. John McCrae, MD, 1915


Formerly known as Decoration Day, this Federal Holiday is a time of remembering those men and women who died in military service. The name was officially changed to Memorial Day in 1967, and is celebrated on the last Monday in May. One of the longest standing traditions with Memorial Day is the running of the Indianapolis 500 which began in 1911. Many visit cemetaries and memorials. Flags are placed on the gravesites of veterans. Parades held. A moment of silence takes place at 3PM local time. Many people recognize Memorial Day as the unofficial beginning of summer.

Please take a few moments this Memorial Day weekend to remember those who have fallen for our country. They paid the ultimate price for the freedom which you and I enjoy. God Bless America!

Buying Opportunities in Uncertain Markets

As we continue to watch the dialogue taking place within the European Union concerning the crisis in Greece, we have seen very volatile action in the markets. The Dow Jones Industrial Average continues to test its intra-day low of May 6th. We saw this index briefly fall below 10,000 during the "flash crash" as it is now being called. Gold is rallying. The Euro is falling. Make no mistake, there is still uncertainty in the markets. But the reasons behind the panic in the markets are over old news. Europe is experiencing a crisis of confidence in their financial system. So far, the U.S. has not directly been involved in this mess. The positive effect of this is that it will continue to keep inflationary pressures in the U.S. under control. The U.S. economy continues to strengthen and looks even better when compared to Europe and the rest of the world. Could this change? Of course.

PERIODS OF UNCERTAINTY IN THE MARKETS ARE GOOD OPPORTUNITIES FOR BUYING!!

Whenever the masses are talking about the market going much lower, it usually will do the opposite. Yes, we did touch many technical support levels during those few minutes of trading on May 6th. And we continue to see volatile trading. But opportunities remain for buying in this market. Now is the time to accumulate those companies which you liked over the past year but didn't want to chase.

The time period May through November is usually a rough time in the market. The addage, "Sell in May, go away" is being played out. When Armageddon finally does arrive, it will find us when we least expect it-- not when everyone is looking for it.

Note: The above is for information purposes only. Any decision to buy, sell, or hold a specific investment for a portfolio should be reviewed with your own personal investment advisor.

Classic Panic in the Market (Again)

Today we saw the Dow Jones Industrial Average drop 998 points at the height of what can only be described as a classic panic in the market. The Official reason for this panic is concern about rioting which took place in Athens. The population there is unhappy with proposed measures to help rescue Greece from defaulting on their sovereign debt. Years of socialist spending programs with high taxes have taken their toll on this country known through the centuries for its intellectual enlightenment. Today the masses did not like that their pensions and welfare programs are being cut with even higher tax rates. The world markets responded by massive selloffs. Some speculate there was also a "trading error" at a major securities firm during the height of the selloff. (Side note: There may be a Congressional hearing three years from now investigating this issue to reassure us we are being protected from evil Wall Street.)

This comes at a time when the economic recovery in the U.S. is taking hold. Even the lagging unemployment number looked good today. Last week's Congressional hearings involving Goldman Sachs only helped erode confidence in our financial markets. So far the Greek crisis is limited to their European economic partners. Repeat: SO FAR THIS IS NOT A U.S. PROBLEM. There are many uncertainties in Europe right now besides the Greek crisis. Europeans were already holding their breath waiting for the outcomes of elections scheduled to take place in England and Germany. Markets never like uncertainty.

We are at a crossroads in the market. If uncertainty continues we could see the U.S. and other world stock markets continue to plunge. However, we did see a pretty good bounce off these intra day lows as bargain hunters stepped in. The market typically does not crash when everybody expects it. Regardless what happens in the near-term, we should see a retest of these intra-day lows as many technical indicators were breached today. This sell off could actually be good for the U.S. markets.

Until confidence is restored things could continue to be ugly. This ALWAYS leads to great buying opportunities.

Note: The above is for informational purposes only. Any decision to buy, sell, or hold a specific investment for a portfolio should be reviewed by your own personal investment advisor.