RECOVERY? – AT 11:16 A.M. ET:  There are no guarantees here, but the stock market is making something of a recovery this morning.  From CNBC: 

U.S. stocks rose on Monday as the major indexes rebounded from their worst weekly performances in two years.

The Dow Jones industrial average rose 213 points after gaining as much as 369 points. Cisco Systems and Apple were the best-performing stocks in the Dow, advancing 2.8 percent and 2.4 percent, respectively.

The S&P 500 gained 0.6 percent after rising as much as 1.4 percent, with energy and tech as the best-performing sectors. Utilities and real estate were the worst-performing sectors as interest rates climbed higher. The Nasdaq composite advanced 0.6 percent after rising as much as 1.4 percent.

The Dow and S&P 500 both pulled back 5.2 percent last week, notching their worst weekly declines since January 2016. The Nasdaq composite, meanwhile, dropped 5.1 percent, marking its biggest one-week pullback since February 2016. The indexes also dipped into correction territory.

The 30-stock Dow closed more than 1,000 points lower twice last week and rose more than 300 points in two other trading days. The S&P 500, meanwhile, posted moves greater than 1 percent in four-of-five trading days last week.

"This looks like a corrective phase rather than the start of a bear market," said Katie Stockton, founder of Fairlead Strategies. "The biggest risk to the marker prior to this sell-off was sentiment and we've seen that go from overly bullish to overly bearish."

COMMENT:  There are no serious signs of panic.  The economy is strong, and I sense that there is real trust in President Trump to maintain economic growth.

But, as we said, there are no guarantees.

February 12,  2018