It is clear that the economy is not booming. The stimulus programs are not creating an economic recovery right now. The US economy is still in recession and there are Democrats calling out for second stimulus program, Republicans opposed to it saying the first one has done more harm than good, and people nervous that a second one might cause debt problems.

President Obama officially declared a wait and see attitude yesterday, claiming that the first one just needs more time to work.

The stock market may not like this for an hour or two this week, but it is the best decision Obama can make right now. Blowing out the deficit even more runs a risk of causing foreign investors to lose more confidence in the dollar and demand higher interest rates for US bonds, which would do more damage to the economy and offset any positive effects of a second stimulus.

As far as stock trading goes don't get caught up in the hype about recovery. Keep your eye on the overall trend of the market and stay aligned with it and not analyst opinions and CNBC talking heads that get it wrong at key times.