I have been extremely busy today with errands, surfing, moving furniture, and now this concert I have to run to. So I am going to just go over every data point that I noticed today and tell you what I think about it. Overall, I like this rally A LOT but I have a MAJOR problem with it, FOR NOW. The volume is simply not there.

When I emphasized the need to own infrastructure stocks on October 23, 2007 (“Subprime” NOT the headline from Honeywell’s quarter - Part 2: Strength in Energy, Construction, and Infrastructure), I made a mistake. I apologize to my portfolio’s performance, and to my readers, for recommending Flour Corp. (FLR) and Foster Wheeler(FWLT). Not that Flour Corp.

The prolonged slump in housing pushed construction of new homes in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.