TUESDAY JUNE 15, 2010

Good News Continues

The Dow jumped 213 points today, continuing a rally that started on June 8.  Over the last six trading sessions, the S&P 500 is up 6.19%.  All while the world's problems continue.  The oil spill (day 60) remains uncapped and the the sovereign debt crisis in Europe remains, with Greece's debt being downgraded today to junk status (now there's a surprise!).

The catalyst for the rally are a continued signs of economic strength.  Yesterday, German industrial production was strong.  Today, the Federal Reserve Bank of New York announced that manufacturing activity in the region grew at a faster pace in June, surpassing economist's forecasts.

The market has had a nice correction.  Stocks are reasonable priced, interest rates are significantly lower than they were one month ago and energy prices have declined.  That's a nice foundation for stock buying!

POSTED AT 1899-12-30 16:27:00.0

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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