Weekend Reading: 1.27.2007

• On the American Association of Individual Investors website is an article titled Cutting Through the Bond Market Fog when Shopping for Munis by Annette Thau. Obtaining information on bond prices is not nearly as easy as accessing information on bonds--both taxable and tax-free. The article provides information and detail on a website containing bond information an investor may find useful: www.investinginbonds.com. A lead in to the article notes:
  

• "...this article discusses how to shop for municipal bonds, using the Internet both as a source of bonds for purchase, as well as for information. The focus is on pricing and comparison shopping."

• In an article on the optionetics website they discuss the implication of the recent increase in bearishness in a few sentiment indicators. One of the indicators highlighted is the AAII Sentiment Survey I note on this site on a weekly basis. The article notes:
  

• ...So, judging by the VIX, the put activity in the options market, and the AAII survey, there is convincing evidence that investor sentiment is turning bearish. As a general rule, it makes sense to remain cautious as bearish sentiment is rising because more stockowners might jump ship and move into the bear camp as stocks come under pressure. Selling begets more selling. However, it is also possible that Thursday represented a short-term period of capitulation or a situation where the market has been washed out of sellers. If so stocks can continue the long-term grind higher..."

• The Valueline website provides access to free research reports on the 30 stocks that comprising the Dow Jones Industrial Average.

• As tax time approaches, the Wall Street Journal, via a Yahoo link, recently noted investors should not be in a rush to file their 2006 tax returns. One reason is due to a change instituted by the IRS requiring providers of 1099 forms to break out tax free income subject to the alternative minimum tax. Some investment organizations, like Wachovia and Morgan Stanley, have been granted 30-day extensions from the IRS. This extension allows those organizations to delay mailing their 1099 forms by 30-days; thus extending the deadline to the end of February when the forms must reach their investors.