Will February be the month to remember?

It was a great week followed by a great weekend. The market is correcting. I bought some more C and FNM shares. I am hoping that these two will increase by 15 to 20 percent this month. I also acquired more OPC shares at $1.95. The oil price is steady and looks very promising. I am hoping OPTI will take off anytime.

It was a great weekend in the poker room. I got lucky here and there and made a couple of grand. I am excited that maybe my bad run of cards is over. Gerald is progressing very nicely with the basement development. I am looking forward to the Steam shower which will be arriving here any time. I hope everything goes well with the shower and we can enjoy a nice steam bath every week.

NEW YORK (AP) -- Stocks rebounded from an early slide Tuesday as stronger consumer confidence boosted hopes for the economy. The market advanced after the Conference Board said its index of consumer confidence rose to 55.9 in January from 53.6 in December. It was the third straight increase and the highest level in more than a year. The Dow Jones industrial average rose 85 points in afternoon trading, boosted by a big gain in Travelers Cos. after the insurer said an absence of catastrophe costs and a recovery in its investment portfolios lifted profits 60 percent for the final three months of 2009. Concerns about the global economy had been holding the market lower. China moved ahead with a plan to curb bank lending to keep that country's economy from overheating. Investors in the U.S. and elsewhere are concerned a slowdown in China could destabilize a worldwide recovery. Meanwhile, Federal Reserve policymakers were beginning a two-day meeting on interest rate policy. The central bank is expected to keep rates at record lows, though investors will be looking at the Fed's assessment of the economy in a statement that will follow the meeting on Wednesday. Stocks broke a three-day slide Monday as Fed Chairman Ben Bernanke's prospects for confirmation to another four-year term brightened. His term ends Sunday. Doubts about his ability to get confirmed in the Senate last week helped destabilize the stock market.

- ROME (Reuters) – The late Pope John Paul flagellated himself regularly to emulate Christ's suffering and signed a secret document saying that would resign instead of ruling for life if he became incurably ill, a new book shows. The book, called "Why a Saint? was written by Monsignor Slawomir Oder, the Vatican official in charge of the process that could lead to Roman Catholic sainthood for John Paul. It includes some previously unpublished documents. John Paul, who died in 2005, was sick and suffering in several periods of his papacy. He was shot and nearly killed in 1981, he underwent several operations, including one for cancer, and suffered from Parkinson's disease for more than decade. The book, which was published Tuesday, reveals that even when he was not ill, he inflicted pain on himself, known in Christianity as mortification, so as to feel closer to God. "In Krakow as in the Vatican, Karol Wojtyla flagellated himself," Oder writes in the book, citing testimony from people in the late pope's close entourage while he was bishop in his native Poland and after he was elected pope in 1978. "In his closet, among his vestments, there was hung on a clothes hanger a particular kind of belt for pants, which he used as a whip," Oder writes.

- NEW YORK (AP) -- Verizon Communications Inc. on Tuesday posted an unusual loss for the fourth quarter, as a charge for layoffs in its shrinking landline business overshadowed the growing, and profitable, wireless business. And even the wireless business ran into trouble, as tough competition cut into Verizon's profit margins. Verizon CEO Ivan Seidenberg told analysts on a conference call that the company continues to feel the effect of the economic downturn, particularly in selling service to businesses. "We're facing some more significant headwinds than we thought we would face from the economy," he said. He is now expecting a more robust recovery in 2011. Verizon shares fell 58 cents, or 1.9 percent, to $30.10 in morning trading. The nation's second-biggest phone company lost $653 million, or 23 cents per share, in the last quarter. In the same period a year earlier it had a profit of $1.24 billion, or 43 cents per share.

- WASHINGTON (AP) -- The Senate Tuesday rejected a plan backed by President Barack Obama to create a bipartisan task force to tackle the federal deficit this year despite glaring new figures showing the enormity of the red-ink threat. The special deficit panel would have attempted to produce a plan combining tax cuts and spending curbs that would have been voted on after the midterm elections. The measure went down because anti-tax Republicans joined with Democrats who were wary of being railroaded into cutting Social Security and Medicare. The Senate vote to kill the deficit task force came just hours after the nonpartisan Congressional Budget Office predicted a $1.35 trillion deficit for this year as the economy continues to slowly recover from the recession. "Yet another indication that Congress is more concerned with the next election than the next generation," said Sen. Judd Gregg, R-N.H., a sponsor of the plan. The budget deficits facing Obama and Congress are large and intractable, and the CBO prediction for 2010 is roughly equal to last year's record $1.4 trillion ocean of red ink. That means the government is borrowing to cover 40 percent of the cost of its programs. The report predicts a sluggish economic recovery and continued high unemployment -- which presages big political problems for President Barack Obama and his Democratic allies heading into the midterm elections. The report sees unemployment averaging 10.1 percent this year as the economy grows by just over 2 percent. It would grow only slightly more next year with an unemployment rate of 9.5 percent. "CBO expects that the pace of economic recovery will be slow," said agency chief Douglas Elmendorf. The latest estimates also project that the deficit will drop to $980 billion next year and $480 billion in five years -- but only if a host of tax cuts enacted under President George W. Bush are allowed to expire. Most budget experts see deficits nearing or exceeding $1 trillion each year over the next decade once tax cuts and other policies are factored in.

- WASHINGTON (AP) -- Treasury Secretary Timothy Geithner drew sharp criticism from Democrats and Republicans alike Wednesday for his role in the $180-billion-plus taxpayer bailout of insurance giant American International Group, with some challenging his claim that he played no role in withholding information about AIG deals with business partners. When President Barack Obama picked the then-New York Fed chief on November 24, 2008, "I withdrew from monetary policy decisions...and day to day management of the New York Fed," Geithner told a congressional panel. But one member after another lit into Geithner, venting rising public frustration over bank bailouts and bonuses as Wall Street firms recovered from the recession but unemployment remains at 10 percent. Rep. Stephen Lynch, D-Mass., told Geithner: "It just stinks to the high heaven what happened here. The disclosure was not there at the proper time to tell the American people and tell this Congress what was going on." Rep. Marcy Kaptur, D-Ohio, told Geithner he was more beholden to banks than he was to taxpayers when he ran the New York Fed and cut him off abruptly when he tried to deny it. "The consequences would have been catastrophic," had the government not bailed out AIG, the nation's largest insurer, Geithner said. "It was in the best interest of the Fed and the incoming administration" for him to step down from day-to-day oversight of the Fed once Obama nominated him, he said. Geithner added: "I don't think there was a better alternative available." AIG eventually received an aid package from the government of more than $180 billion. At issue before the committee is the part of this money to repay banks that were its business partners, known as counterparties, and efforts by the government to cover up details of the payments. "I played no role in those decisions," Geithner said. "I will take complete responsibility for decisions I played a role in shaping," he said. But as to the AIG matter, he said, "I was not involved in decisions about what to disclose about the individual transactions or the names of counterparties. But I have enormous trust and confidence in the integrity and judgment of those who were."

- NEW YORK (AP) -- Stocks mostly fell Wednesday as investors remained skittish ahead of the Federal Reserve's latest announcement on interest rates and the state of the economy. The Fed is expected to keep rates at historic lows. Traders will be looking closely at the Fed's assessment of the economy later Wednesday for indications of when it will wind down more of its supports for the financial system. Meanwhile, a 7.6 percent drop in sales of new homes in December brought concerns about how fast the economy is recovering. Traders also paid close attention to a hearing on Capitol Hill where Treasury Secretary Timothy Geithner answered questions about the government's rescue of insurance giant American International Group Inc. last year. Geithner oversaw the bailout as head of the Federal Reserve Bank of New York. The hearing was the latest event in Washington to occupy investors. The U.S. market has been spooked by President Barack Obama's push to restrict trading by major financial institutions as well as concerns that Fed chairman Ben Bernanke might not get confirmed in the Senate for a second term. Stocks have fallen in five of the last seven days.

- WASHINGTON (AP) -- New home sales unexpectedly fell 7.6 percent last month, capping the industry's weakest year on record. December's sales fell to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000, the Commerce Department said Wednesday. Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December. The results were the weakest since March and indicated demand remains sluggish despite newly expanded tax incentives to spur sales. The report is likely to fuel concern that the housing market turnaround will falter when government support ends this spring. Tom Brown, co-owner of Summerville, S.C.-based Crown Home Builders, was not surprised that last month was so poor for the industry as a whole. Buyers are having trouble meeting tough criteria for mortgage loans, he said. And though builders are cutting prices, the shaky economy and weak job market are keeping home shoppers away. "People are holding on to what they have," he said. Housing remains one of the weakest links for the economic recovery, and is weighing on the minds of Federal Reserve officials who will issue a policy statement Wednesday afternoon at the end of a two-day meeting. No major changes in interest rates are expected. The big question is whether Fed will revise its strategy to keep mortgage rates low. The Fed has been buying $1.25 trillion in mortgage-backed securities, but has said it will phase out the program by the end of March. Only 374,000 homes were sold last year.

- WASHINGTON — By now, President Obama can hardly be under any illusions about the depth of the partisan divide as he seeks to reboot his presidency. Yet he still seemed surprised on Wednesday night when he could not get Republicans to applaud tax cuts. As he boasted in his first State of the Union address that his economic program had cut taxes for 95 percent of working families, Democrats jumped to their feet to cheer. Republicans sat quietly. Mr. Obama paused as he glanced over to their side of the House chamber. “I thought I’d get some applause on that one,” he said. If Mr. Obama thought he could take the rostrum in the House chamber and restore his image as the change agent who came to Washington to end the politics of division, he received another reminder just how hard that will be. Mr. Obama tried to recapture the magic of his yes-we-can campaign after a season of no-we-can’t governing, but conceded little if any ground to critics on either the right or the left. It was a confident performance, more defiant than contrite, more conversational than soaring. He appealed to and scolded both parties, threatened vetoes, blamed his predecessor and poked fun at lawmakers. The agenda was largely the same, dressed up in fresh packaging, as he offered point-by-point rebuttals to the litany of critiques he hears with increasing frequency. He acknowledged only a failure to explain his policies without retreating an inch on the policies themselves. His main message: “I don’t quit.”

- DEARBORN, Mich. (AP) -- Ford, the only U.S. automaker to avoid bankruptcy court, clawed its way to a $2.7 billion profit in 2009 and expects to stay in the black in 2010. It was the automaker's first annual profit in four years. Ford's full-year revenue of $118.3 billion fell nearly 20 percent from 2008, but the Dearborn-based automaker benefited from cost-cutting, a $696 million profit in its credit arm and popular cars and trucks like the Ford Fusion midsize sedan and Ford Escape small SUV. It gained market share in North and South America and Europe, despite the worst U.S. sales climate in 30 years. "While we still face significant business environment challenges ahead, 2009 was a pivotal year for Ford," Ford CEO Alan Mulally said in a statement. Ford shares rose 32 cents, or nearly 3 percent, to $11.87 in premarket trading. Ford's 2009 net income of 86 cents per share showed a significant improvement from the year before, when it lost a record $14.6 billion. Before severance payments and retiree health care charges, Ford made 43 cents per share. The profit surprised Wall Street, where analysts expected an annual loss of 31 cents.

- NEW YORK (AP) -- Stocks rose moderately Friday after the government's gross domestic product report showed that the economy grew at its fastest pace in six years. The Commerce Department said GDP grew at an annual rate of 5.7 percent during the fourth quarter, easily topping economists' forecast of 4.5 percent. The strong GDP report could get the market back on track after a 10-month rally stalled earlier this month. Shares have been falling since hitting a 15-month high last week. Concerns have been mounting that potential new regulations coming out of Washington could upend a fragile economic recovery. President Barack Obama's calls last week to restrict trading by big financial institutions helped spark the sell-off. He has provided scant details about the bank overhaul plan to help alleviate any concerns. The president is planning to announce further details about a plan to provide small businesses with tax credits that boost hiring. A high unemployment rate -- it remains at 10 percent -- is one of the biggest obstacles the country faces as it tries to recover from the worst recession since the Great Depression. In morning trading, the Dow Jones industrial average rose 68.54, or 0.7 percent, to 10,189.00. The Standard & Poor's 500 index rose 7.27, or 0.7 percent, to 1,091.80, while the Nasdaq composite index rose 20.01, or 0.9 percent, to 2,199.01. Analysts have been saying for months the market has been climbing too high, too fast. The uncertainty brought on by Washington could be giving investors a reason to pull back. The S&P 500 surged 60.3 percent during the 10-month rally.

- Oil prices rose slightly Friday, helped by a slight pullback by the U.S. dollar and optimism in European stock markets, but remained near a six-week low under $74. By early afternoon in Europe, benchmark crude for March delivery was up 14 cents to $73.78 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 3 cents to settle at $73.64 on Thursday, the lowest since Dec. 14 when crude dropped to $73.46. Oil has skidded about 12 percent since reaching $84 a barrel earlier this month as investors eye a stronger dollar and slumping equities. Traders often buy commodities such as oil as a hedge against inflation and a weaker dollar and sell them when the U.S. currency rises. On Friday, however, the dollar lost some ground to the main European currencies. The euro bought $1.3962, up from Thursday's low of $1.3938 -- the euro's weakest level since July 2009 -- while the British pound rose to $1.6151 from $1.6127. Despite the slight rise on Friday, oil prices still looked to be heading toward ending their third straight week lower, with a skeptical outlook seen prevailing. "A day of rising prices does not mean that perception is changing significantly," said Mike Fitzpatrick, vice president of energy at broker MF Global in New York. "A fall of $10 in a little over two weeks is probably just too tempting to resist." Investors are also looking at U.S. crude demand, which has so far not rebounded strongly from a slide last year.

- WASHINGTON (AP) -- President Barack Obama unveiled a multitrillion-dollar spending plan Monday, pledging an intensified effort to combat high unemployment and asking Congress to quickly approve new job-creation efforts that would boost the deficit to a record-breaking $1.56 trillion. Obama's new budget blueprint preaches the need to make tough choices to restrain run-away deficits, but not before attacking what the administration sees as the more immediate challenge of lifting the country out of a deep recession that has cost 7.2 million jobs over the past two years. The result is a budget plan that would give the country trillion-dollar-plus deficits for three consecutive years. Obama's new budget projects a spending increase of 5.7 percent for the current budget year and forecasts that spending would rise another 3 percent in 2011 to $3.83 trillion. "Until America is back at work, my administration will not rest and this recovery will not be finished," Obama declared in his budget message. Obama's budget offers tax cuts for businesses, including a $5,000 tax credit for hiring new workers this year, help for the unemployed and $25 billion more for cash-strapped state governments. All the temporary measures would boost the deficit over the next two years by $245 billion. The deficit for this year would surge to a record-breaking $1.56 trillion, topping last year's then-unprecedented $1.41 trillion gap, a number which had dwarfed the previous record of $454.8 billion set in 2008 under former President George W. Bush.

- WASHINGTON (AP) -- Personal incomes rose more than expected in December and consumer spending increased for the third straight month, helping the economy slowly recover from the worst recession in decades. Still, the increases were modest, reflecting the reluctance of many households to spend amid tight credit and high unemployment. Widespread joblessness is also limiting wage and salary growth, as firms find it easier to retain workers without raising compensation. "Consumers continue to save far more than in recent years and allocate their spending very carefully," Julia Coronado, an economist at BNP Paribas, wrote in a note to clients. The Commerce Department said Monday that incomes rose by 0.4 percent, the sixth increase in a row. That's slightly better than analysts' expectations of 0.3 percent growth. Income growth was spurred by a large, one-time social security payment, the department said. Wages and salaries rose by only 0.1 percent, or $9.1 billion, after increasing 0.4 percent, or $27 billion, in November. Consumer spending, meanwhile, increased by 0.2 percent, less than analysts' forecasts of 0.3 percent. The department also revised November's figure to show a 0.7 percent increase in spending, higher than the initial estimate of 0.5 percent. Consumer spending is closely watched because it accounts for about 70 percent of total economic activity. Spending has grown in the past six months but consumers remain cautious as they seek to rebuild savings battered by a steep decline in household wealth. Americans saved 4.8 percent of their incomes in December, the department said, up from 4.5 percent the previous month. That's up sharply from the spring of 2008, when the savings rate fell below 1 percent.

- BAGHDAD – A female suicide bomber mingling among Shiite pilgrims in Baghdad detonated an explosives belt Monday, killing at least 54 people, officials said. The bombing was the first major strike this year against pilgrims making their way to the southern city of Karbala to mark a Shiite holy day. It came as a security official warned of a possible increase in attacks by insurgents using new tactics to bypass bomb-detection methods. The bombing raises fears of an escalation of attacks as hundreds of thousands of Shiites head by Friday to Karbala to mark the end of 40 days of mourning following the anniversary of the death Imam Hussein, a revered Shiite figure. The bomber hid the explosives underneath an abaya — a black cloak worn from head to toe by women — as she joined a group of pilgrims on the outskirts of Baghdad's Shiite-dominated neighborhood of Shaab, said Maj. Gen. Qassim al-Moussawi, Baghdad's top military spokesman. The bomber set off the blast as she lined up with other women to be searched by female security guards at a security checkpoint just inside a rest tent, al-Moussawi said. A police official said 54 people, including 18 women and 12 children, were killed and 117 were wounded. A hospital official confirmed the casualties. Both officials spoke on condition of anonymity because they were not authorized to talk to the media.