We’ve now enjoyed seven consecutive weeks up, and we’re still optimistic that higher prices lie ahead. Granted, major challenges remain for the U.S. economy, particularly in the auto industry, the banking industry and the housing industry. But remember, the market is always looking ahead, and its actions in recent weeks convince us the worst has already been discounted. The theme of earnings reports in recent weeks has been “Not as bad as expected,” like Ford losing “just” $1.8 billion in the first quarter. (Man, that’s hard to write with a straight face.) So where do you invest? One area...
