Howard W. Penney's  Instablog

Howard W. Penney
Send Message
Howard has been a restaurant analyst since the early 1990's, and has been recognized as the top analyst in his sector by both the Wall Street Journal and Institutional Investor. Prior to Research Edge, Howard was a Managing Director at both FBR and at SunTrust Robinson Humphrey, after starting... More
My company:
Research Edge LLC
    Apr 9, 2009 8:48 AM | about stocks: SPY

    Yesterday, the S&P 500 closed at 825.16, up 1.2%.  Yesterday it was important that the S&P 500 closed above the 822 TREND line; continue to manage risk around that line surgically.  The positive tone to the market was driven by: M&A in the housing sector, the potential for the Treasury to extend the TARP to the life insurers, upbeat earnings out of Consumer Discretionary (NYSEARCA:XLY) and a jump in mortgage applications to the highest level since January 9th.  The dollar ended the day basically flat and the VIX declined 3.8% yesterday; now down 22% over the past month. 

    Stocks: SPY
Back To Howard W. Penney's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • CPKI - Another casual dining company is beating EPS expectations on better cost saving initiatives!
    Apr 8, 2009
  • RT - SSS Dec Jan Feb FY3Q09 Co-Owned-9.0% -5.9%-5.1% -6.8% Franchise -9.9% -1.1%-2.8% -5.1%
    Apr 8, 2009
  • EAT guides Q3 Operating EPS to $0.44-0.45! Very nice!
    Apr 7, 2009
More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.