Well, another quarter has come and gone and the recession is still not over. While the month of March was the S&P’s 500′s best month since Ocober 2002 (Source: Reuters, April 1st, 2009), there is no assurance that we have see the bottom of this market yet. Still, I get a big smile on my face when I see the market going in the right direction.

For most investors, the first quarter was a case of one step forward, two steps back. On the one hand, the Federal Reserve, Treasure and various governments worldwide increased their efforts to resolve the current financial crisis, easing fears of a systemic collapse and increasing the willingness of some investors to take on a bit more risk. On the other hand, stocks posted their 6th consecutive losing quarter. Even the 20% 3-week rally in March faded in the final days of the quarter with the announcement of bad news from the auto industry.

Click here to see the full April 2009 Newsletter