The stimulus package is passed by both branches of Congress now.  President Bush will probably sign it by sometime next week.  It is likely that these refunds will be in taxpayers hands by May, so the real difference this package will make will be in the summer.  This means we will start seeing the measurable effects in mid to late summer. We do believe that this level of stimulus will provide measurable GDP impact, potentially keeping us in a mild recession instead of dwindling into a major economic stall.

As far as the stock markets are concerned, the summer is usually a slow period.  If we bottom out at our current lows as we do our first retest of the bottoms, then this could set up a bottom to rally off of when we finally see the positive results of this package.  Keep in mind that consumers and companies are spending less right now, so we still have bad numbers and missed EPS results to go through, in droves potentially.

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