Our current Federal Reserve Board took plenty of heat late last year, probably warranted. But their actions so far this year have done the job, in my opinion. Lowering the overnight rate several times, and not by just 1/4 point, will help spur borrowing. Raising the amount available from their Terminal Auction Facility will help liquidity. Now, their brilliant move of accepting the mortgage paper nobody wants as collateral, and allowing more borrowers, will spur more loan deals. Folks, M&A activity will rise soon.

What to do? A friend of mine told me the Fed is making it nearly impossible for banks to not make money. We have a healthy yield curve in the U.S. Sure, we have a weak dollar, but that will increase exports. Unemployment is low by historical standards, as are borrowing rates. Buy stocks. You know the ones I like, but I'm sure if there's one out there you like, it could easily be a bargain still.

As I write this, Leapfrog (LF) is ~$7.50. It's going to double within a year, minimum. Hot Topic (HOTT) has bad news priced, and a wicked low P/S ratio. Get in below $5 or $6. Apple near $130 is a steal; they keep innovating and are never, ever going to be married to a business model. Apple (AAPL) will be back to $200 by the end of summer. You know the others I like. Looks like a strong spring for stocks. Enjoy.