Two Bottoms in place?

OK, so I spoke to soon. I knew it was bad karma to comment on how well the market had performed since it's low in August. Oh well, so much for timing. For those of you not watching, the market retreated to it's August lows last week on renewed concerns of the credit markets. The past two days, we have rallied because of once again, the market's expectation that the Fed will lower rates. I do think the Fed will continue to lower rates and be the lender of last resort in the short term credit markets. You can't imagine what a huge market this is and how vital it is in companies' ability to do business. If you can't borrow in the commercial paper market, you may as well shut your doors--especially if you are a financial company.
Value stocks in general have come back to life somewhat--but for the year, the growth stocks still take the prize. Real estate and small cap value have negative returns year-to date. These two areas have performed phenomenally this decade--it was time for a breather.
It will be interesting to see how the market does into the end of the year, typically a good time for the bulls.
On an investment product note, more fund groups are coming out with products to help retirees spend down their nest-egg while keeping a solid portion of their portfolios invested for growth. Fidelity currently has a fund that pays out over the time period specified so that at the end , all of the assets have been paid to the investor. Vanguard has registered with the SEC for a similar type fund due out next year.
On a personal note, I will be beginning my term as President of the Financial Planning Association, Greater Hudson Valley chapter. I am really excited to be at the forefront of the financial planning community, one whose voice in politics legislative matters and education grows stronger every day.
I would love to hear your comments and questions!!