Gotta Love Wednesday

No slump for this mid-week trading day. GDP numbers looked solid, despite the continued slowdown in housing. Yes, there is a decline in the number of homes sold, and the median sales price is down 3%, but this is after tremendous gains in real estate over the last few years. We can give back a little and still have a good market. Sellers are finally coming down to earth, and this is being reflected in the numbers. With lower sales prices have come more interested buyers. It looks less like a burst bubble and more like a correction. GM announced plans to concentrate on hybrid cars. The announcement came with much pomp and ceremony... and a few hecklers. Finally, GM is responding to demand, but don't expect to see these cars on the lot for several years. See the heckling incident on CNN video. The sponsor for the piece? Honda! (They are years ahead of GM on that hybrid thing.) Markets had a nice bounce today. Ben who? Dow +90.28 NASDAQ +19.62 S&P 500 +12.76