Out Like A Lamb

At least for this week, the market was in like a lion on Monday and out like a lamb today.

Still, we closed above key supports and strong weekly returns. For the week, the S&P 500 gained +6.17%, Dow +6.84%, Nasdaq +6.03, and the Russell 2000 +7.22%.

To make big money this week you had to be long home construction (ITB), clean energy (PBW), industrials (UXI), financials (UYG), and basic materials (UYM). However, if it was your goal to lose money, being leveraged short was the clear choice as big losses were seen in financials (SKF), real estate (SRS), & telecom (TLL).

Next week the market will face a worthwhile challenge in the form of both economic news (including next Friday's jobs report) and potential for earnings warnings as we close out the first quarter of 2009. Have a great weekend!