The Nasdaq (pictured below) successfully bounced off its support at 1600.  Another positive note is that the 50 day moving which has been descending since June of last year has turned and it’s currently trending upward.  Going forward if the market continues to go higher the 50 day moving average should act as support for the market if it is healthy.  Other major indices showed similar attributes.  The leading sectors today and recently have been materials, energy, builders and some select technology.

Allgen Financial Services, Inc. has been picking up some commodity stocks over the last couple of weeks, and most recently we started getting into a major infrastructure builder.  A lot of the stocks in these areas are trading at an extreme value and should benefit from the Obama stimulus package.

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The Nasdaq broke above it’s resistance of 1600. This is something it has failed to do four times in the last two months.  It also broke above its descending 50-day moving average.  Although the breakout was on low volume, it should bode well for the technical condition of the market.  Other major indices also followed suit.  Treasuries sold off today which is good indicator that investors are starting to take more risk.  The clear leaders were commodities, energy and technology all of which were down significantly last year.
Allgen has been selling out of some bonds recently in order to reallocate back into the stocks.

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Photo by: Amber Rhea on Flickr

Allgen Financial Services, Inc. (www.allgenfinancial.com) serves individuals, families, and businesses in Winter Park, Florida. Despite the economic downturn in 2008, Allgen continues to grow. In 2009, Allgen plans to have a greater presence in Winter Park, Florida. “We are excited to continue serving the Winter Park community,” said James Zimbardi a Senior Partner at Allgen Financial Services, Inc.

The business community in Winter Park is especially on Allgen’s radar screen. “Businesses are looking for solutions on how they can reduce cost in this economy. Company benefits and retirement benefits like a 401(k) is a business cost executives and HR directors should consider evaluating. For this reason, Allgen Financial Services, Inc. provides a complementary audit to determine if costs can be reduced, while not sacrificing quality of service or investment options. In many cases, when going through the audit process, Allgen’s financial team has found opportunities to increase the quality of service while decreasing cost,” said Paul Roldan Senior Partner at Allgen Financial Services Inc.

Investment advisory services tend to play a more important role when investors are uncertain about market conditions.  Since major institutions are making significant cuts and layoffs, a firm like Allgen is benefiting and demonstrating bigger is not necessarily better. More and more people are reaching out to Allgen because they have lost their advisor, or they are unsatisfied with the level of service they are receiving in these current market conditions.

Allgen specializes in retirement asset management for both individuals and businesses. It serves business owners, high-net-worth individuals, and individuals in career transition or planning for retirement.

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Definition
A traditional IRA is a personal savings plan that offers tax benefits to encourage retirement savings. Contributions are either deductible or nondeductible. Regardless of whether your contributions are deductible, earnings in a traditional IRA grow tax deferred.

A Roth IRA is another type of personal retirement savings plan. All contributions to a Roth IRA are nondeductible. If certain conditions are met, withdrawals from a Roth IRA, including earnings, are tax free.

Traditional IRAs and Roth IRAs can be used to accumulate funds for college. The 10 percent penalty tax that normally applies to withdrawals from traditional and Roth IRAs before age 59½ does not apply if the money is used to pay the qualified education expenses of you, your spouse, or the children or grandchildren of you or your spouse.

Prerequisites
•    You qualify to make contributions to a traditional IRA or Roth IRA
•    You, your spouse, or the children or grandchildren of you or your spouse have qualified higher education expenses

Key Strengths
•    Early withdrawal penalty is waived
•    The federal government does not consider the value of your traditional IRA or Roth IRA in determining your child’s financial aid eligibility
Key Tradeoffs
•    Your retirement nest egg is reduced
•    Colleges may consider the value of your traditional IRA and Roth IRA before awarding their own financial aid

Variations from State to State
•    States may vary in their tax treatment of traditional IRAs and Roth IRAs
•    States vary in their protection of traditional IRAs and Roth IRAs from creditors

How Is It Implemented?
•    Open a traditional IRA or Roth IRA with a bank, financial institution, mutual fund company, life insurance company, or stockbroker
•    Select actual type of investment (e.g., certificate of deposit, mutual fund)
•    Make contributions as desired up to the due date of your federal tax return for that year (usually April 15 of the following year)
Article Written By: Forefield Inc.
Neither Forefield Inc. nor Forefield Advisor provides legal, taxation, or investment advice. All content provided by Forefield is protected by copyright. Forefield claims no liability for any modifications to its content and/or information provided by other sources.

For professional investment advice on this topic contact:
Allgen Financial Services, Inc.
888.6ALLGEN (888) 625-5436
advisors@allgenfinancial.com
www.allgenfinancial.com