FRIDAY FEBRUARY 26, 2010

Tough Week

While I continue to think that the economic recovery is intact, this week's news wasn't very good.  The economic statistics, from durable goods orders to sales of existing homes, were disappointing to say the least.  And the weather certainly hasn't helped either, with the east coast getting hammered once again.

However, the stock market has remained resilient, trading essentially flat for the week.  Perhaps because corporate earnings continue to show improving trends.  Anecdotally, it is encouraging to see companies such as Priceline.com, Tiffany and Coach posting strong earnings.  Let's face it, if people are making travel arrangements on Priceline, things are looking up.

POSTED AT 1899-12-30 15:18:00.0

KEN ENTENMANN, CFA
SENIOR VICE PRESIDENT AND
THE DIRECTOR OF INVESTMENT MANAGEMENT SERVICES

Ken is a Senior Vice President and the Director of the Trust and Investment Services at Alliance Bank, N.A. He has 23 years of investment experience and oversees the management of assets totaling $1 billion. He holds a B.S. in Applied Economics and Business Management from Cornell University and an M.B.A. from the William E. Simon Graduate School of Business Administration at the University of Rochester. He has also earned his Chartered Financial Analyst designation. He is a member of the Executive Committee of the Trust Division of the New York Banker's Association. He is also a director of the Central New York Community Foundation.

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